Decoding Pending Home Sales Data When the National Association of Realtors reported that its Pending Home Sales Index reached 97 in January 2012, the highest reading since April 2010, it sent a clear signal to the home building industry. The index, which tracks signed contracts on existing homes, climbed 2 percent from December 2011 and […]
Construction site safety is not just a regulatory requirement, it is a fundamental responsibility that every builder and contractor carries. When a California contractor ignored a stop work order issued by the city of Milpitas due to unsafe trenching conditions, the result was tragic: a 37-year-old carpenter working in a 12-foot ditch was killed when
When housing completions hit a record low of just 631,200 units in 2011, the construction industry faced one of its most challenging periods in modern history. This milestone, documented by Census Bureau data and analyzed by industry observers, marked the lowest point in a prolonged downturn that reshaped how home builders approach market planning. Understanding
Trench Collapse Prevention: Safety Standards and Contractor Liability in Residential Construction A preventable tragedy in Milpitas, California sent shockwaves through the industry. A 37-year-old carpenter working in a 12-foot trench was killed when the walls caved in, burying him under tons of soil. The contractor had been issued a stop work order but continued operations
In 2011, the United States housing industry reached a milestone no builder wanted to see. According to Census Bureau data compiled by housing blog Calculated Risk, just 631,200 homes were completed nationwide – the lowest number on record since modern data collection began. To put this in perspective, completions had peaked at more than 2
Worker misclassification has emerged as one of the most persistent compliance challenges facing the residential construction industry. When construction employers classify employees as independent contractors or pay workers off the books, they avoid payroll taxes, workers’ compensation premiums, and unemployment insurance contributions. A Tennessee task force recently recommended stiffer penalties for companies found to be
The federal Real Estate-Owned (REO) Initiative program has emerged as a significant mechanism in the housing market, offering home builders a unique pathway to participate in the conversion of foreclosed properties into rental housing. Originally conceived as a response to the foreclosure crisis that peaked between 2008 and 2012, this program continues to shape how
The Federal Housing Finance Agency Real Estate-Owned rental initiative marked a significant shift in how the housing market handled the wave of foreclosures that followed the 2008 financial crisis. By turning foreclosed Fannie Mae and Freddie Mac properties into rental housing, the program created new opportunities for home builders and investors while helping stabilize distressed
Three Policy Moves That Could Revive the Residential Housing Market The housing market has long been the engine of the American economy, yet recovery cycles often leave builders, buyers, and policymakers searching for effective levers to pull. John K. McIlwain of the Urban Land Institute has outlined three specific policy steps that could meaningfully accelerate
When Forestar Land Partners, a joint venture between the owners of Foremost Communities and an affiliate of Starwood Capital Group Global, acquired the final 300-acre parcel at the western edge of Corona, California through a public auction, it marked the closing chapter of a long-running master planned community development story. The acquisition represented more than
