NCBIA July/August 2024 BUILDER Newsletter

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North Coast Building Industry Association (NCBIA) BUILDER newsletter is the official newsletter of the NCBIA and is published monthly by the NCBIA. The NCBIA is an affiliate of the Ohio Home Builders Association (OHBA) & the National Association of Home Builders (NAHB).

Advertising Policy - The North Coast Building Industry Association reserves the right to reject advertising in the Builder newsletter based on content. Acceptance of advertising does not imply endorsement of the product or service advertised.

NCBIA Office

5321 Meadow Lane Court - B Suite 23

Sheffield Village, OH 44035

Phone: 440.934.1090 info@ncbia.com | www.ncbia.com

NCBIA Staff Executive Officer

Judie Docs | judie@ncbia.com

Executive Assistant

LaBreeska Bellan | labreeskancbia@gmail.com

Marketing Associate Ashlyn Bellan-Caskey | ashlynncbia@gmail.com

2024 NCBIA Officers

President

Tim King, K. Hovnanian Homes

Vice President

Mike Meszes, DRC Construction Co.

Associate Vice President

John Toth, Floor Coverings International Treasurer

Melanie Stock, First Federal Savings of Lorain Secretary

Jon Sherer, Paraprin Construction, LLC

2024 NCBIA Board of Directors

Sam Hudspath, All Construction Services

Joey McCormick, Bumble Bee Blinds

Dave Linna, Linna Homes & Remodeling

Sara Majzun, Majzun Construction Co.

John Eavenson, Perpetual Development

Theresa Riddell, The Nelson Agency

Jason Rodriguez, The S.J.R Building Co.

Kevin Walker, Walker Wealth Managements & Great Lakes Properties & Investments

NCBIA Life Directors

Jeremy Vorndran, 84 Lumber

Tom Caruso, Caruso Cabinets

Bob Yost, Dale Yost Construction

Liz Schneider Dollar Bank

Mary H. Felton, Guardian Title

Jack Kousma, Kousma Insulation

Jeff Hensley, Lake Star Building & Remodeling

Chris Majzun Jr., Majzun Construction Co.

Chris Majzun Sr., Majzun Construction Co.

Jim Sprague, Maloney + Novotny, LLC

Randy Strauss, Strauss Construction

Tom Lahetta, Tom Lahetta Builders, Inc.

2024 NAHB Delegate

This member represents our local industry in Washington DC

Tim King, K. Hovnanian Homes

NAHB Senior Life Delegate

Randy Strauss, Strauss Construction

Ohio’s State Rep. to NAHB

Randy Strauss, Strauss Construction

OHBA 2024 President

Enzo Perfetto, Enzoco Homes

OHBA Past President

Randy Strauss, 1996

2024 OHBA Trustees

Tim King, K. Hovnanian Homes

John Eavenson, Perpetual Development

OHBA Area 2 Vice-President

Ric Johnson, CAPS Builder & Right at Home Technologies

per hour

Contact Ashlyn Bellan-Caskey at ashlynncbia@gmail.com

Blueprint/Drawing

“Another

great golf outing in the

books.”
“ “
“I

always look forward to your golf outing – it is one of the best.”

“ “

Copies Training Room

Dr. Dietz’s presentation will help our company plan for the future.

“ “

$10 each (plus shipping, if applicable) Your New Home

Design Services Warranty Books

Ashlyn Bellan-Caskey at ashlynncbia@gmail.com

Verizon Wireless

$10 each (plus shipping, if applicable)

1. 22% off Verizon monthly access fees on Corporate liable lines. $34.99 or higher, 2 corporate lines required.*

2. For a limited time, save $5/month for a year on two UNLIMITED plans by Verizon Wireless: Business Unlimited Pro 5G and Business Unlimited Plus 5G.1

Verizon 5G Business Internet

1. 10-year price guarantee, one month free, and prices as low as $69/month.2 Restrictions apply.

Save the Date!

Want to be a sponsor for any of these events? Let us know! Sponsor early to get maximum exposure!

Call or email Judie at judie@ncbia.com for marketing opportunities to help your bottom line!

Thursday, August 22, 2024

Night at the Crushers

6:30 PM

Lake Erie Crushers Stadium

2009 Baseball Blvd.

Avon, OH

Wednesday, August 28, 2024

Clambake Committee Meeting

11:30 AM - 12:30 PM

NCBIA Office

5321 Meadow Lane Court - B, Suite #23

Sheffield Village, OH

Wednesday, August 28, 2024

Elected Officials Reception

4:30 PM - 6:30 PM

Parkers Grille & Tavern

32858 Walker Road Avon Lake, OH

Wednesday, September 11, 2024

Executive Committee Meeting 3:30 - 5 PM

Board of Directors Meeting 5 - 6:30 PM

NCBIA Office

5321 Meadow Lane Court - B, Suite #23

Sheffield Village, OH

Saturday, September 14, 2024

Annual Softball Game & Family Picnic

2 - 5 PM

Amherst Township Park

44786 Middle Ridge Road, Amherst

Thursday, September 26, 2024

Member Mixer

5 - 7 PM

Hosted by Granite Works Stone Design 875 Crocker Road, Westlake

Saturday, October 12, 2024

2024 Annual Clambake

5:30 - 10 PM

Amherst Eagles 1161 Milan Ave, Amherst

Thursday, November 7, 2024

Build PAC Wine Pairing Dinner

5 PM

Cole’s Public House

209 South Main Street, Amherst

Check the website at www.ncbia.com for up-to-date changes, additions, and corrections to these events!

Do you have some business news to share?

Business anniversaries, accomplishments, awards, publications, etc.? Send to judie@ncbia.com. We want to hear from you!

Huber & 84 Lumber Lunch & LearnContinuous R-Value [In-person]

Wednesday, September 11 11:30am – 1:30pm

Location:

84 Lumber Store 0303 - 34457 East Royalton Rd. Columbia Station, OH. 44028

If you haven’t responded for the Sept 11th Lunch & Learn with Thomas King from Huber Engineered Wood Products at 84 Lumber, please do so. They will go over changes to the building code in regard to continuous R-values. Touching on requirements for continuous R values on exterior wall assemblies and possible solutions with Huber’s Zip-R . Please send back an RSVP letting advising who will be attending, no later than Wednesday, September 4th . Lunch will be provided. Thanks Mark McClaine NE Ohio Market Manager 84 Lumber Company 440-823-4713

We are sad to announce that Mike Schmitt, current owner and operator of our member builder, Bob Schmitt Homes has passed away after a long illness.

LOOKING FOR 2025 Leadership

Leadership is vital to our association. It helps to direct our achievements of goals. Providing clarity of purpose, motivating and guides the association to realize our mission.

We will be having our annual elections on October 16, 2024, at the general membership meeting. If you are interested in getting more involved in the NCBIA regardless of your level of knowledge and experience you can still add value to leadership. Leadership from a variety of members foster an atmosphere of creativity and can help produce new insights on how to perform tasks, make decisions and deliver on project, improving efficiency and productivity.

Why is leadership for the NCBIA important:

• Vision - Provides guidance, purpose and helps others understand long-term strategies.

• Communication - Leaders help to communicate the vision and mission and encourage members to act to meet objectives.

• Passion - Being enthusiastic and infecting others with energy to achieve their goals.

• Commitment - Remain focused on long-term goals and do not allow temporary setbacks to dampen their spirits. When facing a setback, being able to motivate others and help them see beyond the problems preventing them from reaching the common goal.

• Integrity – Do the right things to achieve goals. Integrity, truthfulness, and fairness are core attributes to see in relations with other members.

• Confidence – Help members to excel at their work and every aspect of life by expressing confidence in their abilities.

• Growth – Create an environment where others can grow. Open to new ideas and methods of achieving results.

I ask all of you to think about taking the next step in our association and industry. If you have the desire to improve a cause, connect with other leaders, learn leadership skills, help with special projects, enhance your personal or professional reputation or for whatever reason, please contact myself or Judie Docs. We look forward to discussing this opportunity with you.

Tim King, K. Hovnanian Homes

CALLING ALL Builders & Remodelers

October 16th General Membership Meeting & Election Night: Tabletop Night

Join us on October 16th for our General Membership Meeting and Election Night, where we will also host a Tabletop Night for all our Associate members. This is a fantastic opportunity to showcase products to our builders and remodelers in a trade show setting and connect with other members who share the same values and goals.

At the NCBIA, we believe in the power of networking and supporting one another. Membership is not just about getting more business; it is about what you put into it. By participating in events like this, you are not only breaking the ice with fellow members, but you are also reinforcing our shared commitment to each other's success.

Our associate members are a vital part of our organization, making up a significant portion of our membership. When an associate member company is willing to join a Builder's association, it is a testament to their dedication to the industry. In return, we should appreciate and reciprocate that commitment by doing business with them. It is good business to do business with a member, and by doing so, we are all raising each other up.

One of the key benefits of NCBIA membership is the ability to easily network and collaborate with others in the industry. As small businesses, we depend greatly on our trade contractors and associate members to succeed. We view them as an integral part of our company because, in the end, it is a team effort to keep our industry strong.

Highlighting the importance of doing business with fellow members reinforces the idea that membership is not just about gaining business but about being part of a supportive network. It is true that the value you get from membership is proportional to the effort you put in, and events like this provide a perfect platform for members to engage and build stronger relationships.

Throughout September, the federation will celebrate Associate Member Appreciation Month, recognizing the countless contributions of our Associate members. These members, who make up 65% of our organization, come from a wide variety of specialties that are essential to the industry, including subcontractors, financial services, retail, wholesale, sales, and marketing.

Recognizing Associate members, who make up a significant portion of the membership, is crucial. Their contributions, across various specialties, are vital to the industry, and reciprocating their commitment by doing business with them is a powerful way to show appreciation and strengthen the community.

Overall, this event seems like a fantastic way to celebrate and harness the collective strength of our members, helping everyone to succeed together.

We encourage all our members to take advantage of this opportunity to connect, network, and grow together. Let us continue to support one another and build a stronger industry.

More information to come in the next couple of weeks.

EVENT SPONSOR

Member: $2000

Non-Member: $2500

Event Sponsors:

Everything on Supporting Sponsor list, PLUS radio interview, booth space, logo on staff t-shirts and all printed advertising, mention in radio advertisements and option to have your company’s banner hung at show entrance!

Saturday, March 15th 9-5 Sunday, March 16th 10-3

Spitzer Conference CenterLorain County Community College 1005 North Abbe Road, Elyria

My company would like to sponsor the 2025 NCBIA Home Show. (Please select below)

Event Sponsor($2000) Member Supporting Sponsor ($300)

Event Sponsor ($2500) Supporting Sponsor ($500)

SPONSOR INFORMATION

SPONSOR

Member: $300

Non-Member: $500

Includes: mention in radio ads, your logo in event program, Facebook event page, slideshow during event, option to put promotional items in swag bag, and recognition in BUILDER newsletter.

PAYMENT METHOD:

Please Indicate how you would like to pay for your sponsorship.

QUESTIONS? CONTACT THE NCBIA www.ncbia.com (440) 934-1090 judie@ncbia.com

Supporting Sponsors:

Bag Sponsor: ___Invoice ___Check Enclosed ___VISA/MC/AMEX/DISC* *If you select credit card, our office will call for your card information.

HOUSE SIZES: Demand versus Supply

The share of new single-family homes built in the 1,600-3,000 square-foot range closely matches the share of buyers who want homes of that size, according to recent surveys from NAHB and the U.S. Census Bureau. The surveys show that 21% of buyers want homes with 1,600 to 1,999 square feet, and 22% of new single-family homes started in 2023 have that much floor space. In the next tier up, 38% of buyers want homes with 2,000 to 2,999 square feet, and 40% of new single-family homes fall within that size range.

Results on the square footage buyers want in their next home were published in the 2024 edition of What Home Buyers Really Want , based on a representative sample of 3,008 recent and prospective home buyers conducted in 2023. The size of homes started comes from NAHB tabulation of the recently released 2023 data file from the Census Bureau’s Survey of Construction .

Outside of the 1,600-3,000 square-foot range, the match between what buyers want and what builders provide is not as close. While 26% of buyers want homes under 1,600 square feet, only 16% of single-family homes started in 2023 were that small. And while 22% of new homes have at least 3,000 square feet, only 14% of buyers are looking for homes that large.

Part of the reason for the apparent mismatch, of course, is that builders are compensating for the existing stock of housing, much of which was built decades ago when homes tended to be smaller. According to the latest American Housing Survey (funded by HUD and conducted in oddnumbered years by the Census Bureau), a full one-third of existing homes in the U.S. have less than 1,500 square feet of floor space. Moreover, the median size of an existing single-family detached home is 1,800 square feet, compared to 2,200 square feet for single-family homes started in 2023 and the 2,067 square feet that home buyers say they want in the NAHB survey.

In other words, the median buyer wants a home that is 133 square feet smaller than the median new single-family home, but still 267 square feet larger than the median existing single-family detached home.

RESIDENTIAL BUILDING WAGES SEE Fastest Growth in More Than Five Years

Residential building workers’ wage growth accelerated to 9.0% in June. This marks the fastest year-over-year (YOY) growth rate since December 2018. After a 0.3% increase in June 2023, the YOY growth rate for residential building worker wages have been trending upward over the past year.

The ongoing skilled labor shortage in the construction labor market and lingering inflation impacts account for the recent acceleration in wage growth. However, demand for construction labor is weakening as interest rates remain elevated. As mentioned in the latest JOLTS blog, the number of open construction sector jobs shifted notably lower from 366,000 in May to 295,000 in June. Nonetheless, the ongoing skilled labor shortage continues to challenge the construction sector.

According to the Bureau of Labor Statistics report, average hourly earnings for residential building workers* was $32.28 per hour in June 2024, increasing 9.0% from $29.62 per hour a year ago. This was 16.2% higher than the manufacturing’s average hourly earnings of $27.79 per hour, 10.6% higher than transportation and warehousing ($29.18 per hour), and 11.1% lower than mining and logging ($36.33 per hour). Looking deeper, five of the nine divisions saw a greater share of newly-built two or more stories homes. Among these, New England and the Middle Atlantic had significantly higher proportions (83% and 78%) of two or more stories homes. This proportion increased notably in New England, from 75% in 2022, jumping eight percentage points. In contrast, new homes started with two or more stories in the Mountain and Pacific division were at 52% and 57%, both lower than the previous year. By and large, the greatest concentrations of two-or-more story homes were in divisions along the coasts of the country.

New homes started in the Midwest and South generally showed a stronger preference for single-story homes, except for the South Atlantic division. In the Midwest (East North Central and West North Central), 52% and 59% of new homes started were one-story, while in the South (East South Central and West South Central), the shares were 60% and 58%.

Note: *Data used in this post relate to production and nonsupervisory workers in the residential building industry. This group accounts for approximately two-thirds of the total employment of the residential building industry.

THANK YOU SPIKES!

SUPER SPIKE (250-499 SPIKE CREDITS)

Terry

Dave

Chris

GREEN SPIKE (50-99 SPIKE CREDITS)

Jim

Chris Mead Maloney & Novotny, LLC

Aaron Kalizewski ........ Grande Maison Construction....................

Jeremy Vorndran ......... 84 Lumber ....................................................

Liz Schneider Dollar Bank

Tim King K. Hovnanian Homes

LIFE SPIKE (25-49 SPIKE CREDITS)

Steve Schafer ................ Schafer Development .................................

John Daly ...................... Network Land Title ....................................

BLUE SPIKE (6-24 SPIKE CREDITS)

Mark McClaine 84 Lumber

John Toth Floor Coverings International 18.50

Chris Collins Carter Lumber

Dave LeHotan .............. All Construction Services ..........................

Ken Cassell ................... Cassell Construction...................................

John Blakeslee Blakeslee Excavating, Inc 11.50

Ashley Oates 84 Lumber 10.00

Scott Kosman Lakeland Glass 9.50

Mike Meszes DRC Construction 7.00

Tim Hinkle Green Quest Homes 6.50

Jim Tipple ..................... Maranatha Homes ...................................... 6.50

Lindsay Yost Bott......... Dale Yost Construction .............................. 6.00

Thanks for Renewing!

John Marcelli, Apollo Supply

Mark Bennett, Bennett Builders & Remodelers

Tim Bennett, Bennett Builders & Remodelers

William Butchko, Butchko Electric, Inc.

Steve Ross, CBRE, Inc.

Kenneth Cassell, Cassell Builders & Remodelers

Irene Berlovan, Dollar Bank

Don Foster, E.H. Roberts Company

Jenny Prelipp, E.H. Roberts Company

Daryl Wolfram, Electrical Accents, LLC

Michael McCourt, Erie Shores Design-Build, LLC

Chris Bartish, First National Bank

Chris Igielinski, Henkel Corporation

Mike Johnston, Homenik Door Company

Fred Westbrook, Lorain County Auditor

Michelle McClintic, Lorain County Joint Vocational School

Jerry Vessalo, Midwest Siding Company

Jason Mitchell, Mitchell Woodworking, Inc.

Terry Hawke, Network Land Title Agency

Jeremy Nichols, Nichols Construction, Inc.

James O. Barnes, O’Neal Tax & Bookkeeping, Inc.

Andrew Teetzel, Screenmobile of West Cleveland

Dominic Potina, Sedgwick

George Litten, See Thru Window Cleaning, Inc.

T.J. McAdams, Shamrock Development Company

Bill Sturgill, Sturgill’s Stucco, Inc.

FEDERAL TAX RETURN ITEMIZATION and the Mortgage Interest Deduction

Since the passage of the Tax Cuts and Jobs Act (TCJA) in 2017, tax returns that itemize Schedule A deductions, such as the mortgage interest deduction (MID) , have fallen significantly with only 9.6% of all returns using an itemized deduction in tax year 2021. In 2017, the share of returns claiming an itemized deduction was 30.9%. Taxpayers who do not itemize their tax returns claim the standard deduction instead, and thus do not directly benefit from deductions such as the MID.

Looking across different adjusted gross income — or AGI, which is a measure of total income minus adjustments, such as deductions — levels , the prevalence of itemizing has fallen for all AGI levels. In 2017, five AGI levels had over half of tax returns claiming an itemized deduction. In contrast, in 2021 (the latest published IRS Statistics of Income data) only the two highest AGI levels had over half of returns claiming an itemize deduction.

The TCJA significantly increased the standard deduction and placed a limit of $10,000 on the state and local income tax (SALT) deduction . These two factors contributed to the trend of fewer itemized returns since 2017. Moreover, these changes explain why the use of the mortgage interest deduction has grown less progressive since 2017. Namely, the mortgage interest deduction can only be claimed through itemizing. So fewer itemizing taxpayers has led to fewer home owners utilizing the mortgage interest deduction, particularly at lower AGI levels.

More Info on this Article Available HERE.

TWO DAY SHOW!!!!!

EXHIBITOR CONTRACT

Company Name (as it will appear in show) __________________________________________

Contact Person (print) _________________________________________________________

Primary Product(s)/Service(s) ___________________________________________________

Email address __________________________

Booth spaces are LIMITED and available on a 1st Come, 1st Served Basis! 2024 SOLD OUT - Act now to secure your booth!

BOOTH INFORMATION

Electric is optional and available on a 1st Come, 1st Served Basis!

Will you need electricity? _______ YES _______ NO ______# of Booth Spaces ____________TOTAL AMOUNT DUE

I understand that I have contracted for exhibit space by signing this contract and I am liable for the full cost of the booth space. I also understand that the final location of space will be determined by show management when payment is made in full. The undersigned represents that he/she is fully authorized to execute and complete this agreement. The undersigned also understands and agrees to the rules and regulations on the reverse side of this contract.

Authorized Exhibitor Signature

PAYMENT METHOD:

Please Indicate how you would like to pay for your booth space.

Printed Name ___Invoice ___Check Enclosed ___VISA/MC/AMEX/DISC*

*If you select credit card, our office will call for your card information.

Please send completed form to Judie@ncbia.com or 5321 Meadow Lane Court - B, Suite 23 Sheffield Village, OH 44035

Event Sponsors: **A $5.00 Convenience Fee will be charged for all Credit Card Payments

RULES AND REGULATIONS GOVERNING EXHIBITS

MANAGEMENT: The North Coast Building Industry Association (NCBIA) shall be deemed Event Management and shall have all rights thereto assigned. (From here on the North Coast Building Industry Association will be referred to as NCBIA).

CHARACTER OF EXHIBITS: NCBIA reserves the right to approve all exhibits. The exhibits and the distribution of promotional material shall be limited to the confines of the Exhibitor’s space. Under no circumstances shall any Exhibitor be permitted to attract attention to his/her exhibit in such a way as to distract or interfere with the other exhibitors.

REGISTRATION: Exhibitors and their employees at the Event should wear a registration badge and/or tag for proper identification.

SET UP/REMOVAL OF EXHIBITS: All exhibits must be placed and ready at the opening of the show and no movement of exhibits will be permitted until after the close of the show. Exhibits must remain intact until after closing of the show and be removed within such time as may be specified by the NCBIA. Strict compliance with move in and move out times is mandatory. A fine for late move in and/or early move out will be assessed at the discretion of the NCBIA.

RAFFLES: Exhibitors are encouraged to conduct games, lotteries and/or similar activities to increase patron participation, so long as it does not interfere with the other exhibitors.

CARE OF EXHIBITS/AISLES: Aisles must be kept clear at all times. Seating for buyers must be confined within the exhibitor’s space. Exhibitors are requested at all times to cooperate with the NCBIA in maintaining all exhibits in appropriate condition.

*In the event that the Exhibitor does not exhibit as provided herein or fails to comply in any respect with the terms of this agreement, the NCBIA management shall have the right without notice to the Exhibitor, to license the use of said space to any other company, enterprise, person or persons and the Exhibitor agrees to pay any deficiency, loss and/or damage sustained by the NCBIA as a consequence of such failure to occupy space as provided in this agreement. In addition, it is agreed that should the NCBIA be unable to license the use of said space as herein provided, it shall have the right to occupy said space for its own purposes without prejudice to its rights against Exhibitor pursuant to this agreement, including but not limited to the payment of a license fee.

*Exhibitor will not sub license any part of the space herein provided for without the express written consent of the NCBIA. In the event the exhibit premises are destroyed or rendered unavailable for any reason whatsoever (whether before or during the scheduled exhibition), the rights of the Exhibitor under this agreement shall be limited to a pro-rated refund of the amount paid for the space licensed.

DIRECT SALES: All direct sales vendors must make the payment for their space in full at the time of registration.

REFRESHMENTS: No sample food and/or beverage products may be distributed by exhibitors except upon written authorization of the NCBIA.

COMPLIANCE WITH LAWS: Exhibitors must comply with all federal, state and local laws, regulations and rules that may be in force during the exhibit.

INSURANCE: Exhibitors who desire insurance on their exhibits must procure same at their own expense. The NCBIA will not be responsible for any losses incurred by the Exhibitor or its employees because of theft, damage or for any cause whatsoever nor to any property of employee(s) or Exhibitor(s) while en route to or from exhibit. The Exhibitor agrees to make no claim for any reason whatsoever, including negligence, against the NCBIA or NCBIA management, its agents or employees while in the show quarters. Exhibitor agrees to indemnify and hold harmless the NCBIA against any loss, damage or expense (including reasonable attorney’s fees) act or omission of Exhibitor or its agents connected in any way with its exhibits.

DECORATIONS, SIGNS, ETC: All equipment in conjunction with the exhibit must be provided by the Exhibitor. However, only the sign of the firm covered by the Exhibitor’s agreement may be placed in the booth or upon printed list of exhibitors or program. All decorations must conform to fire regulations. No exhibit is permitted that is more than eight feet high, or that obstructs other exhibits due to its design or size or that presents a safety hazard to other exhibitors and/or attendees.

PAYMENT DEFAULT: Payment must be made prior to event set up.

REFUND POLICY: A partial refund will only be given with a minimum of 45 days notice prior to the event. The NCBIA retains the right to use their own discretion when deeming the reason for refund as a viable one to determine whether refund shall be granted.

*The NCBIA shall have the right to make such rules and regulations in connection with the Exhibition as it may deem proper and may amend them at any time, and the NCBIA shall have the full power in the matter of interpretation and enforcement thereof. The rules and regulations heretofore referred to are printed on this agreement and are incorporated herein by reference. Exhibitor agrees to abide by said rules and regulations.

*It is agreed that this instrument is a license, and not a lease, and that no leasehold or tenancy is intended to be or shall be created hereby.

*This agreement cannot be varied, modified or canceled by the Exhibitor without the express written consent of the NCBIA.

*IN WITNESS THEREOF, the Exhibitor has caused this application and agreement to be executed by authorized representative.

IMAGINE THE POSSIBILITIES

There has never been a better time to be a Carter Lumber customer in the Cleveland/Akron area. We now have even more resources to provide our customers with quality materials and exceptional service. We’re more than just a lumberyard!

Contact your nearest store location to see how having Carter Lumber as a part of your team can help you grow your business and your bottom line.

EYE ON THE ECONOMY

FED SETS THE STAGE for Future Rate Cuts

Weakening labor labor market data are placing future interest rate cuts from the Federal Reserve firmly in view. The question now is when, not if, lower shortterm interest rates will arrive.

GDP growth in the second quarter was solid. Accelerating from a modest 1.4% annualized growth rate at the start of the year, the economy grew at a robust rate of 2.8% during the second quarter. Housing’s share of the economy was 16.1% for the quarter. Within these numbers were clear signs of a consumer slowdown. For example, the personal savings rate fell to 3.4% in June, half the rate registered in 2019 and the lowest rate since November 2022. This decline for savings will ultimately lead to a slowdown for consumer spending.

The labor market is showing signs of a downshift as well. The unemployment rate continued its recent rise, increasing to 4.3% in July, which is nearly a three-year high. NAHB is forecasting the jobless rate to rise to near 5% in the quarters ahead as a result of tight financial conditions. Wage growth slowed to a nominal 3.6% rate in July, the slowest pace in four years. And the construction labor market has seen a recent retreat for the number of open, unfilled jobs due to the ongoing housing market slowdown. Overall, the slowing of the labor market suggests that inflation will continue to trend lower in the months ahead.

Slowing inflation and labor market data indicate the Fed is closer to reducing the federal funds rate. When enacted, this would be the first interest rate cut since March 2020, and positive news for both mortgage interest rates and AD&C builder and developer financing.

Indeed, while the Fed held its target rate constant at the conclusion of its July meeting, the central bank’s policy statement set the stage for loosening monetary policy in the near term. Specifically, the Fed noted that risks are now in “better balance” between its full employment and stable price mandates. For more than two years, the Fed’s bias has been to reduce inflation (stabilize prices) via higher interest rates. Thus, the term “better balance” indicates that the Fed’s next policy move will be to lower interest rates as the labor market weakens and inflation trends lower. The bond market is expecting the first rate cut to occur in September. The NAHB forecast conservatively estimates a rate cut coming no later than December with four to six more cuts occurring in 2025. This will lead to mortgage interest rates moving below 6% over the next six quarters.

For frustrated, prospective home buyers who face the most challenging housing affordability conditions in more than a decade, this policy change cannot come soon enough — especially for younger buyers. While the national homeownership rate was flat at 65.6% in the second quarter, the rate for those under 35 years old fell to just 37.4%, compared to 38.5% a year ago. Additional declines for most age groups are expected in the quarters ahead without notable improvements in mortgage interest rates.

TWO DAY SHOW!!!!!

EXHIBITOR CONTRACT

Company Name (as it will appear in show) __________________________________________

Contact Person (print) _________________________________________________________ Cell # _______________________________________________________________________

Primary Product(s)/Service(s) ___________________________________________________

Email address __________________________

Booth spaces are LIMITED and available on a 1st Come, 1st Served Basis! 2024 SOLD OUT - Act now to secure your booth!

BOOTH INFORMATION

Electric is optional and available on a 1st Come, 1st Served Basis!

Will you need electricity? _______ YES _______ NO ______# of Booth Spaces ____________TOTAL AMOUNT DUE

I understand that I have contracted for exhibit space by signing this contract and I am liable for the full cost of the booth space. I also understand that the final location of space will be determined by show management when payment is made in full. The undersigned represents that he/she is fully authorized to execute and complete this agreement. The undersigned also understands and agrees to the rules and regulations on the reverse side of this contract.

Authorized Exhibitor Signature

PAYMENT METHOD:

Please Indicate how you would like to pay for your booth space.

Printed Name ___Invoice ___Check Enclosed ___VISA/MC/AMEX/DISC*

*If you select credit card, our office will call for your card information.

Please send completed form to Judie@ncbia.com or 5321 Meadow Lane Court - B, Suite 23 Sheffield Village, OH 44035

Event Sponsors: **A $5.00 Convenience Fee will be charged for all Credit Card Payments

NCBIA Hall of Fame Members

Terry Goode Inaugural Class 2001

Bucky Kopf Inaugural Class 2001 Robert Nickoloff Inaugural Class 2001 Ernie Parsons Inaugural Class 2001

Calvin Smith Inaugural Class 2001 Dan Strauss Inaugural Class 2001 Randy Strauss Inaugural Class 2001

Inaugural Class 2001

Hall of

FAME

North Coast Building Industry Association Hall of Fame Nominating Form

The NCBIA Hall of Fame was established to honor individuals who have made a lasting contribution to the housing industry through their work in building and development, public service and housing-related areas. To nominate an individual for Hall of Fame induction, you must be a member of the NCBIA in good standing, complete this form on both sides and return it to the NCBIA office by November 29, 2024.

Hall of Fame Candidate Name:

Title:

Company Name:

Address:

City/State/Zip: Phone

Nomination Submitted by:

Company: Phone

Dale Yost
Jim Schmidt Class of 2002
Robert Yost Class of 2002
Chris Majzun Class of 2003
Bill Perritt Class of 2003
Mick Mackert Class of 2004
John Sarnovsky Class of 2004
Chris S. Majzun, Jr. Class of 2004
Gene Henes Class of 2004
Andy Kerchmar Class of 2005
LeRoy Forthofer Class of 2006
Ray Yunker Class of 2006
Larry Franklin Class of 2005
Mary Felton Class of 2009
Linda Kacher Class of 2009
Joe Scaletta Class of 2010
Rich Smothers Class of 2010
Jeff Hensley Class of 2020
Jeremy Vorndran Class of 2020
Jim Sprague Class of 2021
Terry Bennett Class of 2021
Tom Caruso Class of 2022
Liz Schneider Class of 2022
Dave Linna Sr. Class of 2023
Jack Kousma Class of 2023

NCBIA Hall of Fame Nominating Form (continued)

If you want to check on the criteria for your nominee, please contact the NCBIA office at (440) 934-1090.

Hall of Fame Core Criteria

- At least ten (10) years of NCBIA membership

- Served on committee(s) and/or councils during the time of membership for a total of seven (7) years

- Chaired one (1) committee and/or council- or - Served as President

- At least five (5) years as a board member

- Must have achieved Life Spike Status

- Involvement defined as something that takes a time commitment (not just a monetary one)

- Speaking engagements, home show participation, LCJVS or EHOVE liaison, use of logo in advertising, etc.

Other Criteria Considered

~OHBA and/or NAHB involvement

~Sponsorships (e.g. sponsorship program or event sponsorships)

~Task Force Involvement

~Special Stories/Circumstances

~Awards received (NCBIA & others)

~Complaints or lack thereof (NCBIA records will be checked for compliance)

List any OHBA and/or NAHB involvement

Use additional sheets as needed and please type information when possible.

Member from to .

List committees, councils &/or task forces that nominee has served on and indicate chair positions as they apply. year year committee/council/task force name

List NCBIA offices held office/directorship

Industry & Community Involvement

Awards Received (NCBIA and others)

Special Stories or Circumstances that are pertinent

Summary Statement: I believe that should be named to the NCBIA Hall of Fame because...

Ex. Clambake

POSITIVE DEVELOPMENTS ON THE Workforce Development Front

NAHB scored important victories this week on the workforce development front, with legislation introduced that is targeted specifically to increase job training in the residential construction sector and a Senate appropriations panel approving robust funding for Job Corps in fiscal year 2025.

NAHB commends Sen. Jackie Rosen (D-Nev.) for introducing the CONSTRUCTS Act , legislation that will ease the severe labor shortage in the home building industry that is causing co nstruction delays and raising housing costs. “In any given month, there is a shortage of roughly 400,000 construction workers,” said NAHB Chairman Carl Harris. “By supporting new and existing residential construction education programs, the CONSTRUCTS Act will help ensure we have enough workers to build the homes our nation needs.”

The same day that Sen. Rosen dropped her bill on Aug. 1, the Senate Labor-HHS appropriations committee approved funding for Job Corps in fiscal year 2025 at a level of $1.76 billion, the same amount that was approved in the previous fiscal year.

Job Corps is a vital source of skilled labor for the housing industry, and NAHB has lobbied aggressively to ensure this program remains fully funded after House appropriators last year proposed to abolish the program as part of a 30% reduction of the agency’s fiscal year 2024 budget. Thanks largely to NAHB’s efforts, congressional appropriators changed course and moved to fully fund Job Corps at $1.76 billi on in fiscal year 2024.

Last month, the House Labor-HHS appropriations committee approved language that will maintain Job Corps’ funding level at $1.76 billion in fiscal year 2025. With the Senate Labor-HHS appropriations committee following suit, this is a significant win for the housing industry.

Our message that a housing supply shortage is the primary cause of growing housing affordability challenges and ensuring we have enough workers to build the homes the nation n eeds is ringing loud and clear on Capitol Hill.

COSTLY ENERGY CODES AND RENT CAPS Will Harm Housing Affordability, NAHB Tells Congress

The National Association of Home Builders (NAHB) called on Congress today to address two key policies that will notably escalate costs for home buyers and renters: the federal push to mandate costly and restrictive national energy codes and the Biden administration’s recent proposal to cap rent increases at 5%.

Testifying during a House Financial Services subcommittee hearing on government regulations that impact housing, NAHB Chairman Carl Harris, a custom home builder from Wichita, Kan., told lawmakers that “increasing the inventory of new single-family and multifamily housing is key to improving housing affordability and that eliminating excessive regulations is essential to help builders to boost the nation’s housing supply.”

Reducing excessive regulations is a key component of NAHB’s 10-point plan to tackle the nation’s housing affordability crisis. The plan outlines sensible policy solutions at all levels of government and includes other key provisions such as adopting reasonable and cost-effective building codes, fixing building material supply chains and overturning inefficient local zoning rules.

Regulatory costs, which include complying with building codes, make up nearly 25% of the cost of a single-family home and more than 40% of the cost of a typical apartment development. Increased regulations, especially energy building code requirements such as the recent decision by the U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of Agriculture that requires them to insure mortgages for new single-family homes only if they are built to the 2021 International Energy Conservation Code (IECC) and HUD-financed multifamily housing be built to 2021 IECC or ASHRAE 90.1-2019, are making it much harder for home builders and multifamily developers to build housing that is attainable and affordable for American families.

According to Home Innovation Research Labs, compliance with the 2021 IECC can add $22,572 to the price of a new home, but in practice, home builders have estimated increased costs of up to $31,000. Furthermore, it can take as long as 90 years for homeowners to see a payback on this investment.

Harris noted how the 2021 IECC has already had damaging effects on the housing market near his home community. Kansas City, Mo., adopted the 2021 IECC on July 1, 2023, in hopes of receiving Inflation Reduction Act grant funds. “As a result of adopting these stringent energy codes, Kansas City has seen a 22% decrease in single-family construction permits in January and February of 2024 compared to last year while the Kansas City metro area, excluding Kansas City, has seen a 117% rise in permits,” said Harris. “This has regrettably paralyzed the housing market in Kansas City at a time when area housing markets are booming. The resulting decline in home building has had a domino effect on the rest of the economy, with fewer jobs, housing options, higher housing costs and a lower tax base.”

In addition to negatively impacting potential home buyers, these increased requirements and higher costs stemming from the stringent 2021 IECC can result in decreased production and longer permitting and construction times, further exacerbating housing affordability challenges.

NAHB is urging lawmakers to cosponsor a Congressional Review Act resolution of disapproval introduced by Rep. Warren Davidson (R-Ohio) to allow Congress to overturn this harmful energy codes rule. Rent Control

Harris also warned lawmakers that Biden’s plan to require housing providers with 50+ existing units to choose to either cap annual rent increases at 5% or lose accelerated depreciation benefits will worsen the housing affordability crisis by discouraging developers from building new rental housing units at a time when the nation is experiencing a shortfall of 1.5 million housing units.

“Rent control is the most harmful and counterproductive regulation that multifamily housing providers face,” said Harris. “Rent control jeopardizes the long-term financial solvency of the property, hamstrings the ability of apartment owners and managers to respond to sudden operating cost spikes and cre ates a disincentive for new apartment construction.”

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Application Terms: By signing this Application, the Authorized Representative represents, warrants, and agrees that: (a) he or she is authorized to apply to FLEETCOR TechnologiesOperating Company, LLC (“FLEETCOR”), a Louisiana limited liability company, for an unsecured, partially secured, or fully secured line of credit (“Account”) on behalf of the company identified above (“Client”); (b) FLEETCOR may obtain Client’s credit report and check Client’s credit standing when processing this Application or periodically evaluating any resulting Account’s creditworthiness; (c) this Application is subject to approval and acceptance by FLEETCOR; (d) if the Application is approved by FLEETCOR in Louisiana, the resulting Account: (i) will be governed by Louisiana law; (ii) will not be a revolving credit account and the Amount Due/Total Amount Due shown on each Account Statement will be due and payable on the Due Date shown on the Statement; (iii) will be used solely for commercial purposes and not for personal or household purposes; (iv) will be suspended, and the Client’s redit history may be reported to credit reporting agencies, if the Client’s unpaid balance ever meets the Account’s Credit/Spend Limit; and (e) acceptance, signing (in whatever form), or use of any of the Cards issued to Client will constitute Client’s acceptance of the Client Agreement available at www.fleetcor.com/terms/7-Eleven-mc or www.fleetcor.com/terms/7-Eleven-dn Equal Credit Opportunity Act Notice. The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided that the applicant has the capacity to enter into a binding contract); because all or part of the applicant’s income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The federal agency that administers compliance with this law concerning this creditor is the Federal Trade Commission, Equal Credit Opportunity Act, Washington, D.C. 2 0580. FLEETCOR considers your privacy important. View our privacy policy available at www.fleetcor.com/privacy-policy to find out more.

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To help fight financial crimes, the U.S. Department of Treasury require financial institutions to obtain, verify, and record information about beneficial owners of entities opening accounts. Beneficial owners are persons who, directly or indirectly, own 25% or more of the entity. We may use third-party resources to verify your identity. For questions about this regulation and how FLEETCOR uses and protects this data, please speak with your sales representative. Patriot Act Notice. Section 326 of the USA PATRIOT Act mandates that FLEETCOR verify and record certain information about you (the Client, Authorized Representative, or anyco-maker or guarantor) while processing this Application.

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