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CBIA says state new-home tax credit extension needed to bolster construction. SACRAMENTO, CA – California homebuilders pulled back on new-home production in July as homebuyers retreated from housing markets around the state following the discontinuation of the successful homebuyer tax credit early in the month, the California Building Industry Association announced today.

Funding will stimulate the production of 65 affordable housing units stalled by recession and create quality jobs. WASHINGTON - U.S. Housing and Urban Development Deputy Secretary Ron Sims today visited Cedar Gateway Developments in San Diego, CA, an affordable housing development that was under construction but came to a halt last March due to the loss of tax credit funding. HUD Tax Credit Assistance Program (TCAP) funding, provided through American Recovery and Reinvestment Act of 2009 (Recovery Act), will now allow the project's construction to restart in November, along with thousands of others throughout the country, creating quality jobs in the hard-hit construction industry.

CBIA says state new-home tax credit is generating demand for new homes and construction. SACRAMENTO, CA - June 24, 2009 - (RealEstateRama) — May single-family home starts held their own compared to April, offering additional evidence that the state new-home tax credit is generating demand for new homes and leading to a resumption of job-generating construction, the California Building Industry Association reported today

Homebuilders hope for a second round of the homebuyer tax credit. SACRAMENTO, CA - May 26, 2009 - (RealEstateRama) — Single-family home construction in California showed a significant increase in April when compared to March and was the largest monthly total since October of 2008, which the California Building Industry Association said provided more evidence that the homebuyer tax credit enacted in the beginning of March is helping to clear out inventory and generate new-home construction.

SACRAMENTO, CA - May 12, 2009 - (RealEstateRama) — Thanks in part to the California new-home tax credit that went into effect in March, the pace of home sales at California new-home communities has begun to show signs of stabilizing, California Building Industry Association reported

March 27, 2009 - (RealEstateRama) — On February 17, 2009 President Barack Obama signed the American Recovery and Reinvestment Act, commonly known as the stimulus package. Overall, the stimulus is a mixed bag for the real estate industry, as it provides some significant benefits but several provisions beneficial to the industry were scaled back significantly in the final negotiations between the House and Senate.

March 20, 2009 - (RealEstateRama) — The California Reinvestment Coalition, Woodstock Institute, Neighborhood Economic Development Advocacy Project and the Community Reinvestment Association of North Carolina are calling on Earvin “Magic” Johnson to stop promoting predatory tax refund anticipation loans this tax season as part of his partnership with Jackson Hewitt, the franchise tax preparer notorious for preying on low-income people.

Association says recent sales spurred by homebuyer tax credits may cause January to be bottom of cycle

SACRAMENTO, CA - February 23, 2009 - (RealEstateRama) — California homebuilders said the $10,000 tax credit for purchasers of new homes included in the new state budget will help jump-start the depressed industry, creating jobs and much-needed tax revenue for state and local governments.

Forecast Calls for Record-Low 63,400 Housing Starts; Association Urges Lawmakers to Take Quick Action on Stimulus Measures