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Homebuilders want incentives to aid more buyers

Posted January 13, 2009
Updated March 9, 2009

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— Wake County homebuilders are traveling Wednesday to Washington, D.C., to speak with lawmakers. They don't want a bailout, but more incentives for people to buy.

"What we are asking is to give money to consumers, so they will buy houses,” said Tim Minton, executive director of the Home Builders Association of Raleigh-Wake County.

Wake County homebuilders to talk with lawmakers Wake County homebuilders to talk with lawmakers

At 5:45 a.m., 86 homebuilders will board two buses at the Home Builders Association facility, 5580 Centerview Drive. From there, they will travel to the nation's capital to make their case to lawmakers.

"A home buyer that might easily qualify to buy one of my homes two or three years ago now struggles to buy one of my homes today,” said John Brewer, with Bluepoint Homes Inc.

Brewer said he would normally have nearly 10 homes under construction but he only has one. Despite the slow down, he said he is optimistic the housing market can bounce back.

"We need Congress to take action and kind of move housing out of the slump it is in nationally," Brewer said.

"I am hoping we will see something from our meetings,” Minton said.

The homebuilders plan to ask lawmakers for lower interest rates and tax credits for buyers. Wake County needs incentives badly, Minton said. Homebuilding permits are down around 50 percent over last year.

The homebuilders have meetings scheduled with Republican Sen. Richard Burr, Rep. Brad Miller, Rep. Bob Etheridge and Rep. David Price.

There are about 600 members of the Home Builders Association of Raleigh-Wake County. In past trips to D.C., only around 15 members have gone.

"This is the first time we have done it at this scale," Minton said of Wednesday's trip to D.C.


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  • Read Everything. Jan 16, 2009

    Mostly uneducated comments here. Seems most people like to say "supply and demand" but don't really understand what that means.

    The reality is, our homebuilders, your homebuilder, are/is caught up in a mess they didn't create. Wallstreet secondary mortgage market speculators and democrat induced laxed regulations on mortgage qualifications caused a higher demand for homes to be built. So they built those houses, just like American consumers asked for. Now they need help... not a bailout.

  • donna7 Jan 14, 2009

    deedeedee, the point is demand for homes is active. Home builders still have plenty of willing buyers. The problem is the funding Congress made available to rescue banks'(home lenders') balance sheets, reconcile their bad loans, stop a total meltdown of lending, and make mortgage lending viable again isn't working as planned. Home building is a high risk, speculative business. The government's failure to plan/make lenders accountable for the taxpayers' purpose-driven funds is not the mistake of the home building industry.

  • really02 Jan 14, 2009

    they don't need any money.

    Suck it up

  • ++Ajax++ Jan 14, 2009

    Hey justyour, if they are so supply and demand how come they can't sell the houses they have already built? According to your theory the houses would have already been sold. duh.

  • ridgerunner Jan 14, 2009

    Jeannacoffee2drink is the only one so far to have the right idea on this problem. Everyone does not need a huge house that cost a bundle to heat and cool and maintain. The original goal was affordable housing, not subsidized mansions.

  • bs101fly Jan 14, 2009

    "You blame the home builders for growth?"

    SURE DO! Every single last Tim Minton out there!

    Especially when they go to Washington and whine about needing a bailout!

  • Life-goes-on. Jan 14, 2009

    Supply = Demand. Pretty basic. When you over build the homes, over crowd the schools and roads, all the government incentives you can muster aren't going to make people buy what they don't want or need.
    Some are just slower than others to get the picture.

  • superman Jan 14, 2009

    Buyers would have to be desperate to purchase a home now or a car. They are worried that they may not have a job at the end of the week or the end of the month. It does sound logical that the only way to get the economy rolling again is to spend money. The bail out money is not free- taxpayers are going to have to pay. Why not just give stimulus checks to the taxpayers. Let them get the system moving again! Everyone would benefit from that. If I have to help pay it back the least they could do is allow me to benefit from it. My house is paid for and so are my 3 cars. Dont owe anyone a dime!

  • wrx44 Jan 14, 2009

    Hey Homebuilders...I have a revolutionaly incentive plan for people to buy your houses.


  • whatelseisnew Jan 14, 2009

    It does not matter what the Government does. I would rather they quit spewing money they do not have and keep piling up more debt. Home prices are going to continue to recede, the economy is going to get worse, and unemployment is going to continue to rise. At some future point it will hit bottom and then a recovery will start. At that point, I will be jumping into the property and stock market full force.