St. Joe Co. housing starts down in '08
St. Joe Co. housing starts down in '08 Save Email Print
Some see need for federal stimulus
Posted: 6:12 PM Jan 7, 2009
Last Updated: 6:49 PM Jan 7, 2009
Reporter: Mark Peterson
Email Address: mpeterson@wndu.com

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Another economic crisis is vying for the attention of Congress.

The National Association of Home Builders has descended on Washington D.C. in search of a helping hand.

Some local home builders think that 2009 is bound to be the year things start looking up for the industry, if only because it’s hard to imagine things getting any worse.

“You know, I don’t think we can honestly go lower,” said Kim Baker with Weiss Homes. “As far as that is concerned, the market never goes to zero, I’m confident in that.”

The market in St. Joseph County appears to have come dangerously close to zero, in 2008.

The City of Mishawaka had just 44 housing starts in 2008, compared to 112 the year before. In South Bend, there were just 55 housing starts in 2008, down from 103 in 2007. In St. Joseph County a total of 183 single family homes were built in 2008, compared to 287 the year before. Housing starts in the county had topped 500 back in 2004.

“Our national group is going before the capital to promote a stimulus package there,” said Andy Place of Place Builders. “It’s not a bailout, it’s definitely not a bailout.”

The plan is more a series of suggested tax incentives for people who buy new homes.

Last summer, Congress did pass a tax credit for home buying, but that was limited to first time home buyers and it had to be paid back over a 15-year period.

The Home Builders Association would like to see a true tax credit extended to all buyers of principal residences. The group has also proposed that the credit amount be increased to as much as $22-thousand.

Some believe that the incentives would carry benefits well beyond those who wield power tools.

“If home aren’t being built, then the electrician might be out of work, or not have as much business, or the plumber might not have as much work,” said Kim Baker.

“Let’s look at carpeting, let’s look at appliances, landscaping, all that is part of it,” said Andy Place.

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Posted by: Bob Location: Mishawaka on Jan 8, 2009 at 07:11 AM
Of the 44 buildt in Mishawaka how many of them are specilative condos along the river that no one can afford even without this crisis?

Posted by: Stan Location: SB on Jan 8, 2009 at 06:41 AM
Too Alan:What about people who barely make over80.000 combined? are,nt they entitled to the same help you want?

Posted by: JR Location: SB on Jan 8, 2009 at 06:13 AM
Let,s bail everyone out. Everythings free!

Posted by: Anonymous on Jan 7, 2009 at 11:21 PM
Hey, let's raise taxes, huh, Steve Luecke?

Posted by: JT Location: SB on Jan 7, 2009 at 11:12 PM
When was the last time these home builders built a home that was under $70,000.00 to $90,000.00? And don't say they can't be built. More and more people are looking at the older homes in that price range.

Posted by: Brian Location: Mishawaka on Jan 7, 2009 at 08:17 PM
Might i ask, who didn't see this coming ? At least people are getting smarter and not building houses they can't afford. Whats really shocking is South Bend has more houses being built then Mishawaka. That is the shocking part.

Posted by: Mary Location: sb on Jan 7, 2009 at 08:06 PM
We'll be in the market to build in about 2-3 yrs. We need time to catch up from the last year's financial issues.

Posted by: Alan Location: Mishawaka on Jan 7, 2009 at 07:37 PM
About that tax credit Congress passed, everyone fails to point out it only helps out those making less than $75K per year. I make just over that and I am certainly not rich (I drive a 10 year old car have credit card debt, never go out, never buy anything fancy) and still barely cover my proprty taxes, insurance, utilities, and other basic expenses. Since when is $75K so weathly in this country that you get no benefits from programs like that? I think that is still middle class and that is who needs the help-those making $40-$80K.

Posted by: Anonymous on Jan 7, 2009 at 06:52 PM
Duh.


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