Good News The NAHB was glad to hear President Bush's response to the subprime mortgage crisis. In a statement of support, Brian Catalde, NAHB president, said, “We applaud the president's efforts to help keep families in their homes by allowing the Federal Housing Administration (FHA) to insure refinance loans for some struggling subprime mortgage borrowers and calling on Congress to pass legislation that would modernize the FHA, give the agency updated tools to respond to the needs of borrowers, and provide a viable alternative to the volatile subprime market. By calling for an immediate administrative action to allow the FHA to guarantee loans for borrowers who have fallen behind on their mortgage payments, the president is moving quickly to address the problems of homeowners who are facing foreclosure. The NAHB has been a long-time proponent of FHA revitalization and testified before Congress this spring in support of FHA reform bill H.R. 1852 that is now pending in the House. Our association is ready to work with the White House, Congress, and federal regulators to seek solutions to alleviate the mortgage credit crunch, provide stability to the markets, and help a rising number of homeowners avoid default.”
Just Rewards The NAHB named Robert C. Moss, senior vice president of Boston Capital, the 2007 recipient of its Daniel B. Grady Memorial Award in recognition of his 22-year commitment to affordable rental housing. The award was presented to Moss at a dinner held in conjunction with the association's Fall Board Meeting. “This award was named in honor of the memory of a long-time NAHB member who advocated tirelessly for quality housing for those who can least afford it, and Bob Moss truly demonstrates the meaning of this award,” said Granger D. MacDonald, president of the MacDonald Cos. and chairman of the NAHB's multifamily board of trustees. “Bob has devoted the majority of his career to the affordable-housing industry and has done so with a true sense of integrity and social responsibility.”
We're No.1 The metropolitan area encompassing Indianapolis-Carmel, Ind., retained the title of most affordable major U.S. housing market for the eighth consecutive time, according to the NAHB/Wells Fargo Housing Opportunity Index (HOI) in the second quarter of 2007. On a nationwide basis, housing affordability remained well below the levels recorded prior to the price acceleration that accompanied the 2004–2005 housing boom, although there was at least some improvement from a year ago.
Learn more about markets featured in this article: Indianapolis, IN.