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You Bring the Jobs, We'll Bring the Workers
Bloomberg - "Construction employment in the U.S. is poised to rebound as a swelling pipeline of projects prompts companies to expand" [read the article].
NAHB - "Data suggests increased employment levels for the construction sector in the months ahead" [read the article].
Spread the word. BATC's Job & Career Fair has come at a good time. If you know someone who's looking for a job in the construction industry, or if you have jobs to fill, the February 6th Job & Career Fair is the place to be. Already over 200 jobs!
Register for a table, February 6th from 1 - 6 PM at the Roseville Skating Center. The cost is $100/table.
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Introducing Beltway Perspectives
We're excited to add Dr. Elliot Eisenberg to The Voice on a semi-regular basis. He'll keep us updated on the national economic and housing scene. Enjoy his first report:
Builders & Buyers Bypass Budget Bullet
Elliot Eisenberg: Economist, GraphsandLaughs, Inc
The mortgage interest deduction (MID) cost the US Treasury $88.8 billion in 2011, making it the second largest tax break for individuals. That is precisely why the Congress has its sights set on it. However, there is much debate about how to reduce its costs to the Treasury and by how much.
No matter what happens, reducing the MID will lower some house prices. That being said, how the Congress reduces the MID will determine how much and how many houses lose value. And since so many of us own a home, sell homes or build homes, the MID will not be singled out for special treatment. Rather, the Congress will cap or phaseout the value of all deductions, and in that way avoid favoring one deduction over another.
While there are several possible approaches, the fiscal cliff compromise bill passed into law on January 2nd of this year phases out itemized deductions for households with incomes over $300,000. While at first blush this may appear to be quite damaging, I think homeowners, realtors, builders, and the entire housing industry have all dodged a bullet and should sleep well for quite a while, or at least until the Congress reopens debate on the tax code sometime in the future [keep reading].
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MN Health Insurance Exchange Begins its Journey
The opening week of the legislature was accompanied by the usual ceremonial pomp and circumstance. The legislature stayed largely on script with minimal drama as the legislators were sworn in, caucus leadership elected, and housekeeping measures passed. The few dust-ups were fairly minor with GOP minorities squabbling with the new DFL leaders over perceived slights on committee assignments and staff compensation.
The biggest business item surfacing in the first week is undoubtedly the creation of the state-run health insurance exchange. To be in compliance with the federal Affordable Care Act, better known as Obamacare, Minnesota must legislatively create a marketplace exchange by the end of March. The good news is that there is bi-partisan support for getting this done. The bad news is that it is complex, controversial, on a tight deadline, and must pass through at least seven committees in both bodies. This gives the legislature about 10-weeks to create the exchange and agree on several provisions including the composition of an oversight board, fee for premiums purchased through the exchange, how many restrictions to place on the insurance plans that can be sold in the exchange, among others.
Health care is a big deal for all BATC members. We’ll continue to monitor closely and will be surprised if this is completed before the 11th hour at the end of March.
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More Efficient Permitting on the Way?
Governor Dayton’s Chief of Staff, Tina Flint Smith, announced last week that the Dayton administration is attempting to improve upon their previous commitment to expediting environmental permit applications.
“Governor Dayton has directed both the Minnesota Department of Natural Resources and the Minnesota Pollution Control Agency to issue or deny permits within 90 days or 150 days, depending on the nature and complexity of the permit,” said Smith. “This new measure of efficiency will be good for business, good for our environment, and just plain good government.”
Ninety-day permits will typically be issued for activities such as construction storm water projects, which are relatively easy to expedite. The 150-day permit window will be designated for more complex permits such as those issued to a mid-size manufacturer or an ethanol producer, permits which require more back-and-forth information exchanges between the applicant and the regulating agency.
Kudos to Governor Dayton and agencies for their commitment to greater efficiency in the permitting process.
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New Housing Regulations in Edina
Edina is tightening its housing regulations once again. After nearly 100 tear downs in 2012, unhappy neighbors, city officials and building firms are relooking at housing rules for this desirable suburb. Read the article.
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Now Taking Images for Free Social Media Promotion
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Get on our social media calendar. We'll be posting, tweeting, pinning and blogging heavily during the Spring Parade of HomesSM tour, March 2 - 24, 2013 and Remodelers Showcase®, March 22 - 24, 2013. Contact Katy Ervin at 651-697-7594 with questions.
View Social Media Form >>
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How the Fiscal Cliff Changes will Impact your Business
NAHB is calling the fiscal cliff changes a net positive for housing and homebuilders. There are positive tax provisions in the fiscal cliff agreement that could help homebuilders, but future fiscal policy debates could still threaten the future of housing. Read the article.
Finance & Commerce - "The fiscal cliff fix passed on New Year’s Day includes a measure that could allow some businesses to claim tens of thousands of dollars-worth of extra deductions related to equipment purchases in 2012" [keep reading].
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Our Neighbors Celebrate Huge Storm Water Victory
The Wisconsin Home Builders Association has reason to celebrate.
"In a victory for the environment, affordable housing and the nation's energy infrastructure, the National Association of Home Builders (NAHB), Utility Water Act Group (UWAG) and Wisconsin Builders Association have settled a longstanding lawsuit against the Environmental Protection Agency after the agency agreed to withdraw the numeric limit it developed to control stormwater runoff from construction sites and to pursue additional improvements to the 2009 rule.
The lawsuit had noted that the EPA's numeric limit would have cost stakeholders up to $10 billion a year in attempts to comply" - keep reading.
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View the January Builders' Digest E-Magazine
Inside the January Edition:
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Awards of Excellence Winners & Photos
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Updates from the BATC Foundation
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Introducing BATC's 2013 Board of Directors
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MN Green Path
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Home Builder Day on the Hill
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Company Profile: Kolbe Gallery
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Remodelers Corner
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Member News
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Event Calendar
DOWNLOAD THE BUILDERS' DIGEST >>
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Double Digit Growth in Mpls; Now's the Time to Buy
The Burns Home Value Index is projecting 23 percent growth in Minneapolis housing between now and 2016 – which places the Twin Cities market 9th highest in the country. Read the full report.
Assuming continued economic growth and mortgage rates that stay below 4.5%, Burns' thinks some markets are poised for a lot of appreciation through 2016:
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Las Vegas: 48%
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Phoenix: 45%
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Atlanta: 38%
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Chicago: 34%
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Riverside - SB: 32%
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Tampa: 28%
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Orange Co.: 26%
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San Diego: 26%
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Minneapolis: 23%
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San Francisco: 22%
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13 Years, the Lucky Number for Home Buyers
According to a recent study by NAHB, the average homeowner will live in their house for 13 years. View mobility rates.
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BATC-University Starts Today
BATC University is proud to be a leading source for contractor credits for builders and remodelers in the Twin Cities area. Classes start today and run through March.
View the 2013 BATC-U Schedule >>
Classes include free lunch, free parking, a comfortable and convenient facility, first-rate builder training instructors and classes that are approved for both Contractor and Real Estate credit.
Watch Video from Instructors >>
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More Good News
Economic Recovery Possible through a Housing Renaissance
The Washington Post - "A housing renaissance has begun. This may be hard to believe after the dizzying, six-year-long crash in home sales, construction and house prices. But housing turned the corner last year, and it will take off in 2013" [keep reading].
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