Affordable Housing Income Limit in Northern Virginia Raises Eyebrows (The Examiner) - One Fairfax County supervisor is questioning a proposal that would let families who make more than $110,000 a year qualify for affordable high-rise units.

Freddie Mac Boss: Housing Worst Isn't Here Yet (MSNBC/Associated Press) - The number of home buyers starting subprime loans peaked in 2006, and interest rates for those buyers are due to rise in the next few years, which could cause foreclosures to spike further, Richard F. Syron claims.

Slump Isn't Slowing Vacation Home Sales (MSNBC/Associated Press) - Sales of second homes purchased as investment properties plunged in 2006, but demand for vacation homes remained strong, says the National Association of Realtors.

Fannie Mae Profit Rises for 2005 (Yahoo News/Associated Press) - Mortgage finance giant Fannie Mae reports its profit rose 26 percent in 2005, but expects to report a lower profit for 2006.

Amid Housing Bust, Some Markets Still Boom (MSNBC) - Buyers challenged as prices keep rising in Pacific Northwest, Texas.

Realtors' Chief Economist to Leave (Houston Chronicle) - David Lereah, chief economist of the National Association of Realtors, is leaving NAR to join Move Inc. as chairman and partner next month.

Home Builders Hammered by Housing Slump (ABC - The nation's large, publicly traded builders see profits plummet during challenging market.

Freddie Mac President Turns Down CEO Offer (San Diego Union Tribune) - Eugene McQuade, who has served as president since September 2004, will leave Freddie Mac when his contract ends Sept. 1.

Coming Next Week: BUILDER at K/BIS -- Watch for coverage from Las Vegas as BUILDER Online's Senior Editor Robb Crocker and BUILDER Magazine's Senior Editor Nigel Maynard report from the Kitchen/Bath Industry Show and Conference. For once, what happens in Vegas won't stay in Vegas.

Subprime lenders made record exceptions (Yahoo News/Reuters) - Subprime mortgage lenders created a surge in delinquencies in the past year by repeatedly breaking their own underwriting guidelines to capture business, analysts said while participating in a panel of an information management network asset-backed securities conference in Miami.

Special Report: The Mortgage Mess - (

BUILDER Business Update (BUILDER Online) - A weekly e-mail newsletter with breaking industry news on the business of building homes. Sign up for the BUILDER Business Update and other Hanley Wood Newsletters.

Take the BUILDER Poll (BUILDER Online) - When a prospective buyer contacts you on the Internet with a request for information, what is your standard response time?

From the Pages of BUILDER: Prime Suspects (BUILDER Online) - Credit-challenged borrowers -- a substantial portion of many builders' customer bases -- could be left out as mortgage companies tighten their lending standards.

Check out more from the current issue of BUILDER.

Robb Crocker is the Senior Editor for BUILDER Online. Please e-mail any comments, questions, suggestions, and news tips to

Learn more about markets featured in this article: Houston, TX.