Source: RISMEDIA, September 30, 2009—Nearly two-thirds of single-family home builders are reporting a severe lack of credit for housing production, threatening the fragile housing recovery before it has time to take hold, according to a new builder survey of acquisition, development and construction (AD&C) financing conducted by the National Association of Home Builders (NAHB).
“Across the country, home builders and developers are reporting a deterioration in credit availability and intensifying pressure on borrowers with outstanding loans,” said NAHB Chairman Joe Robson, a home builder from Tulsa, OK. “Lenders are cutting off loans for viable new housing projects and producing unnecessary foreclosures and losses on AD&C loans. With the pending expiration of the $8,000 first-time home buyer tax credit, these challenges threaten to halt any positive developments we have seen in the housing market in recent months.”
In the latest NAHB survey of AD&C financing conditions, 63% of builders stated that the availability of credit for single-family construction loans worsened in the second quarter of 2009.
Read more:
Subscribe to:
Post Comments (Atom)
BIENVENIDOS AL ÁREA DE ORANDO, AQUÍ SIEMPRE ESTARÁS DIVIRTIÉNDOTE. El centro de la Florida compuesto por cuatros condados, Lake,...
-
Escuela ofrece el primer video de repaso por Internet para la porción nacional del examen de bienes raíces en los Estados Unidos Tape Ed Rea...
No comments:
Post a Comment