State & National Updates Archives for 2016-11
Monday Morning Briefing
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Labor
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Dec. 1 effective date pushed back until a final court ruling is made.
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Economics
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Fannie Mae, Freddie Mac to Raise Conforming Loan Limits in 2017 |
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This is the first increase since 2006.
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Still, sales have been trending upward since last year. |
Monday Morning Briefing
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Rules & Regulations
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In 10 days, the overtime salary threshold will double from $23,660 to $47,476.
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Measure would discourage employers from seeking legal advice on union concerns.
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Eye on the Economy
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Economic Impact of Trump's Victory |
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President-elect Donald Trump will undoubtedly have a profound and lasting impact on economic policy throughout his presidency. Costly business regulations are likely to be reduced or rolled back; rate-reducing, base-broadening, comprehensive tax reform will be under active consideration; and the leadership of the Federal Reserve will change in 2018.
The nation's low unemployment is placing pressure on the Federal Reserve to raise short-term interest rates, and those rates will influence many future policy decisions. The incoming Administration, in cooperation with a Republican-controlled Congress, will likely pursue policy that will boost GDP growth in the short run. However, if policy changes result in a growing deficit or overheating labor markets, interest rates will rise (faster) in response. Moreover, any policy changes that restrict trade will act as a drag on economic growth.
Interest rates are sure to grow in the years ahead. Smart policy is needed to identify economic efficiencies that will help limit how quickly those rate increases accelerate, thereby supporting housing affordability and improving business lending conditions in the longer term. –NAHB Chief Economist Robert Dietz
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Monday Morning Briefing
2016 Elections
What Does the GOP Sweep Mean for Housing?
Read NAHB's analysis for a more detailed look at the results.
Trump Announces 'Most Likely' Supreme Court Nominees
His pick will break a 4-4 ideological split.
Codes & Regulations
FEMA Provides Early Notice of 2017 Rate Hikes
Average flood insurance policies to rise 5.4%.
Help keep codes affordable with one quick call.
Economics
Housing Affordability Edges Lower in 3rd Quarter
Home price appreciation offsets a small decline in mortgage rates.
Recovery Continues at Modest Pace
Nearly half of markets are back to normal levels of housing and economic activity.
Monday Morning Briefing
Codes & Regulations
NAHB Challenges Flawed WOTUS Rule
First brief filed before the Sixth Circuit Court of Appeals.
A Call to Action as the Online Voting Process Begins
Members need to call their building code officials and send them this voting guide.
Where Do Your Impact Fees Really Go?
Misued impact fees can add up to millions of dollars.
New Clarity for Wetlands Permits
Guidance letter focuses on jurisdictional determinations.
Eye on the Economy
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Federal Reserve Holds Rates Steady
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At the conclusion of its November meeting, the Federal Open Market Committee chose not to increase the federal funds rate. The Fed's comments gave no definitive signal of when the next increase will come, though it is widely anticipated that the first and only rate hike of 2016 will occur in December. While national job gains have been "solid," according to the Fed, concerns remain about weak GDP growth related to soft business investment.
However, housing data continually indicates improving market conditions. The month of September saw:
At just a 4.8 months' supply, inventory of new homes for sale remains tight. Meanwhile, multifamily construction spending reached a historic high in September. And in the remodeling industry, NAHB surveys show 14 consecutive quarters of positive market conditions. –NAHB Chief Economist Robert Dietz
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