Tag: COVID-19

IRS Not Extending July 15 Tax Deadline

Filed in Economics by on June 30, 2020 0 Comments
IRS Not Extending July 15 Tax Deadline

The Department of Treasury and IRS has announced the July 15 tax-filing and payment deadline will not be extended a second time due to the coronavirus pandemic. The IRS originally extended the April 15 deadline as a result of the pandemic. However, individuals taxpayers unable to meet the July 15 due date can request an automatic extension of time to file until Oct. 15.

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NAHB Leaders Call on Treasury Secretary to Expand PPP Eligibility for Builders

NAHB Leaders Call on Treasury Secretary to Expand PPP Eligibility for Builders

NAHB Chairman Chuck Fowke and CEO Jerry Howard held a virtual discussion with Treasury Secretary Steve Mnuchin today and urged the secretary to expand eligibility under the Paycheck Protection Program (PPP) to allow more workers in the residential construction sector to access the loan program.

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Fewer Builders Cutting Home Prices as a Result of the Pandemic

Filed in Economics, Housing Trends by on June 25, 2020 4 Comments
Fewer Builders Cutting Home Prices as a Result of the Pandemic

In a further sign that the housing rebound is gaining momentum, fewer builders are lowering home prices as a result of the COVID-19 pandemic. Last month’s HMI survey revealed that just 22% of builders nationwide cut prices in April 2020. This month’s survey reveals that the share of builders reducing prices to bolster sales dropped even lower in May, down to 15%. For historical context, 49% of builders cut prices in March 2008, in the midst of the last housing recession.

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FHFA and FHA Extend Foreclosure and Eviction Moratoriums Through August

Filed in Disaster Response, Economics, Housing Finance by on June 17, 2020 2 Comments
FHFA and FHA Extend Foreclosure and Eviction Moratoriums Through August

The Federal Housing Finance Agency (FHFA) announced today that Fannie Mae and Freddie Mac will extend their moratorium on single-family foreclosures and evictions until at least Aug. 31, 2020.  The foreclosure and eviction moratorium applies to Fannie Mae and Freddie Mac-backed single-family mortgages only. The Federal Housing Administration is also extending its foreclosure and eviction moratorium through the end of August for home owners with FHA-insured single-family mortgages.

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The Future of Multifamily Design

Filed in Design, Disaster Response, Multifamily by on June 3, 2020 8 Comments
The Future of Multifamily Design

The COVID-19 pandemic has forced residents to look at a number of their everyday experiences — including the way they live. In multifamily developments, the areas of real changes will occur based on two components: health and safety protocols, and consumer demands.

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Coronavirus Likely to Add Momentum to Increased Home Building in Smaller Markets

Coronavirus Likely to Add Momentum to Increased Home Building in Smaller Markets

The COVID-19 pandemic is likely to hasten a housing trend already taking place across the nation – residential construction activity that is expanding at a more rapid rate in lower density markets such as smaller cities and rural areas. Multifamily development is also proceeding at a brisk pace in areas where education and health services dominate. These are among the findings of the latest quarterly NAHB Home Building Geography Index (HBGI).

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Most Vulnerable Housing Markets

Filed in Construction Industry, Economics by on June 1, 2020 0 Comments
Most Vulnerable Housing Markets

Which housing markets are most vulnerable during this downturn brought on by the COVID-19 pandemic? Based on current unemployment trends brought on by the outbreak, an analysis by the American Community Survey (ACS) sheds light on which states are likely to lag when the housing recovery takes hold.

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How the Multifamily Industry Is Adapting to COVID-19 Compliance Challenges

Filed in Education, Multifamily by on May 27, 2020 0 Comments
How the Multifamily Industry Is Adapting to COVID-19 Compliance Challenges

The COVID-19 pandemic has affected multiple facets of both business and day-to-day life. Multifamily properties experience a unique challenge in that they combine both under the same roof — business operations as well as residential life — along with a host of other components, such as common areas and amenities, as well as the compliance requirements to operate the facility. On Wednesday, June 3, NAHB will host a webinar to highlight best practices in property management and compliance and provide action plans for the COVID-19 crisis.

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Economic Hopes and Concerns as States Reopen

Economic Hopes and Concerns as States Reopen

As many states move to a phased reopening of local economies, this is a key moment to prove that economic activity can occur while also limiting the spread of the virus through less intense mitigation efforts.

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House Passes Relief Bill That Would Allow HBAs to Access Business Loans

House Passes Relief Bill That Would Allow HBAs to Access Business Loans

House Democrats have passed a $3 trillion relief package that would allow trade associations that serve the home building industry — including the hundreds of home builder associations throughout the nation — to access small business loans under the next round of funding for the Paycheck Protection Program (PPP).

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