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Home    Education    Legislative    Publications    Calendar    Sunbelt Builders Show    Resources Jan. 17, 2013

TAB News Briefs
Jan. 17, 2013
TAB Quick Links >    Home     Education     Legislative     Publications     Calendar     Sunbelt Builders Show     Resources

Register for the IBS Texas Reception on Jan. 22
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If you are going to NAHB's International Builders' Show® in Las Vegas, be sure to come to the IBS Texas Reception in the London Club at Planet Hollywood Resort on Tuesday, Jan. 22 from 4:30–6 p.m. Our presenting sponsor StrucSure Home Warranty and select sponsor Morrison Supply Company will host the event along with TAB. Meet up with fellow Texans for some power networking before you head to the IBS House Party. Please register for the FREE event online.

US home builder confidence steady near 7-year high
The Associated Press via Fort Worth Star-Telegram    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Confidence among U.S. home builders held steady in January at the highest level in nearly seven years, but builders are feeling slightly less optimistic about their prospects for sales over the next six months. The National Association of Home Builders/Wells Fargo builder sentiment index released Wednesday held at 47, the same as in December and the highest reading since April 2006, just before the housing bubble burst. More

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Call it a recovery, but not a boom
Fox Business    Share    Share on FacebookTwitterShare on LinkedinE-mail article
U.S. housing markets are in a recovery. But the rebound from the depth is modest, and how long the housing recovery will last is anybody's guess. Evidence of an upswing is so plentiful that Rick Sharga, executive vice president of Carrington Mortgage Holdings, a real estate company in Aliso Viejo, Calif., says "virtually every metric" points to a housing recovery. More

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Editorial: State budget like Texas weather: It'll change
Austin American-Statesman    Share    Share on FacebookTwitterShare on LinkedinE-mail article
"Of the thousands of bills you will consider, the one that really matters is the general appropriations bill," William P. Hobby Jr. advised this year's crop of freshmen. "The bill decides how well Texas will be educated, regulated, imprisoned and medicated for the next two years. All the rest is just poetry." If there was somebody who knows something about governing, it is Hobby. More

Bill targets companies that misclassify workers
The Texas Tribune    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Construction workers who intentionally misclassify their employees as independent contractors would be subject to hefty fines under proposed legislation authored by a veteran Democratic lawmaker. House Bill 372, also known as the Workplace Fraud Prevention Act and filed by state Rep. Joe Deshotel, D-Beaumont, would levy fines of up to $5,000 on business owners for each employee not properly classified as such — a practice used often in the construction industry to avoid paying taxes, supplying fair wages or providing benefits to employees. More

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Tight credit, weak consumer confidence likely to blunt home construction
KUHF-FM    Share    Share on FacebookTwitterShare on LinkedinE-mail article
AudioBriefIt takes one-and-a-half to two new jobs to create one new household in Houston, according to housing economist Mike Inselmann. With Houston's booming job market, builders ought to be putting up 32,000 single family homes a year. But in delivering the GHBA's annual forecast, Inselmann said he expects fewer than 28,000 such housing starts in 2013. More

Lennar plans $1 billion of apartments in rental foray
Bloomberg Businessweek    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Lennar Corp., the largest U.S. home builder by market value, said it plans to diversify into apartments with the construction of $1 billion of multifamily properties as rental demand climbs. The Miami-based company plans to start building 3,000 apartments at a development cost of $560 million this year, Chief Executive Officer Stuart Miller said today on a conference call. The first projects are a $36 million, 316-unit community in Jacksonville, Florida, in partnership with Carlyle Group LP (CG), and a $32 million, 264-unit community northeast of Atlanta. More

HomeAid Houston President addressed Greater Houston Builders Association Forecast Luncheon
Fort Mill Times    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Ron Martin, incoming Board President of HomeAid Houston, addressed hundreds at the 2013 Greater Houston Builders Association (GHBA) Forecast Luncheon on Thursday, Jan. 10, to celebrate the success and tenth anniversary of HomeAid Houston. HomeAid Houston is a 501(c)(3) charitable non-profit organization which identifies homeless care providers in need of additional capacity, and pairs them with GHBA builders, vendors and suppliers to donate their time, materials and labor to help build transitional shelters. More

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2013 Southwest Beef Symposium focuses on drought, future of cattle production
Lubbock Avalanche-News    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Cattle producers from Texas and New Mexico met at the Overton Hotel and Conference center on Jan. 8-9 for a discussion about their industry. The 2013 Southwest Beef Symposium was sponsored by Texas A&M Agrilife Extension and New Mexico State Cooperative Extension Service. The event in its eighth year alternates between being hosted in Texas and New Mexico. This is the first time it has been held in Lubbock and about 100 attended. More

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El Paso economy: Modest growth forecast
El Paso Times    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The national and El Paso economies are expected to have modest growth this year, but El Paso's job market is expected to perform slightly better than the national market, economists reported at an economic conference in El Paso. Uncertainty about what Congress will do on federal spending and budget cuts, as well as uncertainty about global economic and political issues, is making economic projections uncertain and business leaders unsure about pending business decisions, speakers told El Paso business people and community leaders at the eighth Border Economic Forum at UTEP. More

Austin home prices up significantly
Austin Business Journal    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Austin home prices increased 7.3 percent between November 2011 and November 2012, according to a new report by CoreLogic. Prices appreciated just 0.3 percent from October 2012 to November 2012. Those numbers include distressed sales, which involve properties in some stage of foreclosure or mortgage delinquency. Excluding distressed sales, prices increased about 7 percent year-over-year, and almost 1 percent month-over-month. More

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Fort Worth business groups say impact fee hike's too much
Fort Worth Star-Telegram    Share    Share on FacebookTwitterShare on LinkedinE-mail article
A proposed increase in city fees on new development to help pay for arterial roads is too high and could endanger the nascent rebound in the local housing market and push construction to neighboring suburbs, real estate and business groups told the City Council. The groups supported raising the impact fees by less than the city staff has recommended, a level that was proposed by an outside consultant and endorsed by the city's capital improvements advisory committee. More

Bank of America's earnings shrink on mortgage settlements
The Associated Press via Bryan College Station Eagle    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Bank of America says its fourth-quarter earnings shrank as it cleaned up old problems from its mortgage unit. The bank made $367 million in the last three months of 2012 after paying preferred dividends, down from $1.6 billion in the same period a year ago. The earnings were equivalent to 3 cents per share. The bank had warned that it expected earnings to be only "modestly positive." It took big charges related to a settlement with the government-backed mortgage lender Fannie Mae and a separate agreement in which it and other banks settled government accusations of wrongful foreclosure practices. More

Proposed state budgets leave wiggle room to clean up accounting gimmicks
Austin American-Statesman    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Restoring the deep cuts made to the Texas budget two years ago will have to wait, as will any major new initiatives — at least for now. The top priority for the state House and Senate leaders who crafted the 2014-15 budget bills was to clean up the accounting mess left from 2011. Last legislative session, lawmakers used just about every trick of the trade to make the books balance without having to make even deeper reductions to basic state services in the 2012-13 two-year budget. More

Austin track to feature much more than just F1 in 2013
Austin American-Statesman    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Last year, Austin hosted the largest sporting event in its history, as more than 117,000 fans turned out to see the city’s first Formula One race and the debut of the Circuit of the Americas. The 3.4-mile circuit in southeast Travis County generally drew rave reviews, and more than one veteran observer proclaimed that it was already the best road racing course in the United States. More
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