Real Estate - October 5, 2007
Home builders' association chief wants action on economy
Urges Feds to help restore consumer, investor confidence
Brian Catalde, president of the National Association of Home Builders, told his association's Board of Directors this week that the country's August employment figures show that the national economy suffered a decline in payroll employment for the first time in nearly four years, including a large drop of 23,000 jobs in residential construction:
"In light of the significant decline in employment reported (for August), NAHB and its 2,800 board members call on the administration, Congress and federal regulators--along with stakeholders in the private sector--to work in concert to prevent further deterioration in the housing market and erosion of growth in the nation's economy," Catalde said.
"Today's job report jolted Wall Street, demonstrating the paramount importance of restoring consumer and investor confidence in the U.S. economy and housing market," he added.