PRO Group Inc., PROflash December 23, 2099

CASH FOR CAULKERS

President Barack Obama’s plan to help homeowners pay for energy improvements, nicknamed “cash for caulkers,” would also aid companies such as insulation makers and home improvement retailers. Rebates for residences that are made more energy-efficient were proposed by Obama in a speech calling for new spending to cut the U.S. jobless rate. Lawmakers and business executives suggested the project, and the term “cash for caulkers,” as a way to replicate this year’s “cash for clunkers” auto rebate program. “I’m calling on Congress to consider a new program to provide incentives for consumers who retrofit their homes to become more energy-efficient, which we know creates jobs, saves money for families and reduces the pollution that threatens our environment,” Obama said at the Brookings Institution in Washington. The president didn’t use the program’s nickname or provide specifics, such as the amount of the rebates or cost. It would have to be approved by Congress. Read the Full Story Here

AHMA CONFIDENCE INDEX

The AHMA Home Improvement Industry Confidence Index in November found the “current situation” component increasing slightly to 54.1 from 45.8 in October. For the third consecutive month, the ‘future expectations component improved, rising to 241.4 from October’s reading of 201.7. In comparing current sales levels to year-ago levels, 13 percent of respondents said sales were higher in November versus year-ago levels, up from 11 percent in October. For November, 30 percent reported sales were even, and 57 percent said sales were below year-ago levels. Looking forward six months, 57 percent of November respondents said they expect sales to be above current levels, up from 48 percent in October. In November, 32 percent of respondents said they expect sales to be even in six months and 11 percent expect sales to be below current levels. Looking forward one year, 83 percent of respondents project sales will be higher, up from 69 percent who felt that way in October. Thirteen percent of November respondents project sales will be even one year from now and just four percent project sales will be below current levels. See the Full Report Here

LIGHT IN SIGHT FOR U.S. HOMEBUILDERS

With various macroeconomic housing and related statistics bottoming about mid-year 2009 and subsequently moving forward in fits and starts, a four-year downturn has evidently come to an end for U.S. homebuilders, according to Fitch Ratings in its outlook report for the sector. While Fitch maintains a Negative Outlook for U.S. homebuilding in 2010, the expected conclusion of the national housing credit has positively influenced housing data over the last few months. Pending home sales, existing home sales, single family housing starts and single family new home sales have been generally showing improvement after bottoming out earlier this year. The same holds true for new home inventories, home pricing and consumer and builder sentiment. Importantly, the U.S. economy apparently moved from recession to expansion in third quarter-2009 (3Q'09). However, challenges remain, especially the expected upcoming surge in delinquencies and foreclosures for both Alt-A and option adjustable-rate mortgages. Read the Full Story Here

BUILDING PERMITS

Privately-owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 584,000. Read the Full Story Here

Privately-owned housing starts in November were at a seasonally adjusted annual rate of 574,000. Read the Full Story Here

Privately-owned housing completions in November were at a seasonally adjusted annual rate of 810,000. Read the Full Story Here

“And the Grinch, with his Grinch-feet ice cold in the snow, stood puzzling and puzzling, how could it be so? It came without ribbons. It came without tags. It came without packages, boxes or bags. And he puzzled and puzzled 'till his puzzler was sore. Then the Grinch thought of something he hadn't before. What if Christmas, he thought, doesn't come from a store. What if Christmas, perhaps, means a little bit more."