Homebuilding Slow But Hopeful

While homebuilding is expected to remain slow through most of 2009, that doesn’t mean that consumers shouldn’t continue to search for land, purchase their dream house plans and research the latest home building products. In fact, with prices at an all time low, if you have the finances – now is the time to buy and build green, because everyone is negotiating their prices and fees to accommodate the falling market.

Robert Rivinius, president and CEO of the California Building Industry Association (CBIA), recently renewed his pitch for legislative relief to stimulate housing and the economy. Already the association has seen a 9 percent decrease in single-family homes being built from last year. The association wants state and federal lawmakers to enact a tax credit for new home buyers similar to the home buyer tax credit enacted by Congress during the 1970s when the housing market was going through a similar downturn.

“Within months of its enactment, home sales doubled, and within two years, new housing construction was back to normal levels nationwide,” Rivinius said. “We continue to believe that in today’s economic climate, a tax credit for new home buyers would provide a much needed jolt to the languishing housing market, and in turn, the entire economy.”





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