The National Association of Home Builders (NAHB) told Congress that inappropriate appraisal practices and the acquisition, development and construction (AD&C) have contributed to the lending crisis that has choked off credit for home builders threaten to prolong the current housing and economic downturn. Testifying before the House Small Business Subcommittee on Finance and Tax, NAHB Chairman Joe Robson, a home builder from Tulsa, Okla., said these two issues “are placing enormous pressure on home builders’ bottom lines and, for many, endangering their ability to surviRead more
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