Economics

IRS Releases New Form for Businesses to Claim Advance Payments

Filed in Economics by on April 1, 2020 0 Comments
IRS Releases New Form for Businesses to Claim Advance Payments

Any business who will be claiming the employee retention credit, sick leave credit, and/or family medical leave credit, to the extent these credits exceed their payroll tax liabilities, can file IRS Form 7200 to get an advance on their anticipated tax refund.

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NAHB Chief Economist Provides Economic Update on Impact of COVID-19

Filed in Disaster Response, Economics by on March 27, 2020 0 Comments
NAHB Chief Economist Provides Economic Update on Impact of COVID-19

NAHB Chief Economist Robert Dietz examines incoming data showing the negative effects of the sudden stop for the economy. NAHB is forecasting significant declines for second quarter GDP, followed by an additional drop in the third quarter and a rebound in the final quarter of 2020.

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Builders Report Coronavirus a ‘Major Impact’ on Buyer Traffic

Filed in Disaster Response, Economics by on March 26, 2020 0 Comments
Builders Report Coronavirus a ‘Major Impact’ on Buyer Traffic

A recent survey confirmed the coronavirus is having an adverse effect on home builders’ businesses. Among several key aspects, a drop in prospective buyer traffic was, by far, the most widespread issue caused by the illness.

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NAHB Podcast: Senate Passes Stimulus Package

Filed in Capitol Hill, Disaster Response, Economics by on March 26, 2020 0 Comments
NAHB Podcast: Senate Passes Stimulus Package

On this breaking news episode of Housing Developments, NAHB Chief Lobbyist Jim Tobin outlines the provisions in the $2 trillion coronavirus relief package passed by the Senate late Wednesday night.

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NAHB Wants to Hear from You

Filed in Disaster Response, Economics by on March 25, 2020 1 Comment
NAHB Wants to Hear from You

As NAHB continues to advocate for the needs of the housing industry during the coronavirus pandemic, we need to continue hearing how the crisis is impacting your business. Your feedback to this week’s survey will help us promote policies to keep the housing sector running with as little disruption as possible during this difficult time.

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Sales Data Shows Housing on Strong Footing Prior to Virus Concerns

Filed in Economics by on March 24, 2020 0 Comments
Sales Data Shows Housing on Strong Footing Prior to Virus Concerns

Sales of newly built, single-family homes fell 4.4% to a seasonally adjusted annual rate of 765,000 units in February, coming off a sharp upward revision in January, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The January and February readings mark the highest monthly sales paces since July 2007.

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Fed Takes Action to Keep Credit Flowing

Filed in Disaster Response, Economics by on March 23, 2020 0 Comments
Fed Takes Action to Keep Credit Flowing

The Federal Reserve announced today it is taking new action “to support the flow of credit to households and businesses by addressing strains in the markets for Treasury securities and agency mortgage-backed securities.”

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An Economic Update from NAHB’s Chief Economist

An Economic Update from NAHB’s Chief Economist

NAHB chief economist is forecasting an economic downturn in the second and third quarters. If social distancing and virus mitigation efforts are effective, the economy should begin the process of rebounding shortly thereafter.

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Tell Us How the Coronavirus Is Impacting Your Business

Filed in Disaster Response, Economics by on March 18, 2020 9 Comments
Tell Us How the Coronavirus Is Impacting Your Business

To help us most effectively advocate for the needs of the housing industry, we would like to understand how the coronavirus may be impacting your business. This will help us promote policy changes to keep the housing sector running with as little disruption as possible during this difficult time.

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Single-Family Housing Starts Up in February, but Challenges Lie Ahead Due to Coronavirus

Filed in Disaster Response, Economics by on March 18, 2020 4 Comments
Single-Family Housing Starts Up in February, but Challenges Lie Ahead Due to Coronavirus

Housing starts were strong at the outset of 2020, as builders started production of homes to meet consumer demand at the beginning of the year. However, challenges lie ahead due to broad economic weakening stemming from the coronavirus crisis.

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