HIRE Act of 2009 Would Help the Remodeling Industry

More help for the remodeling industry could be on the way in the form of a tax credit that would stimulate the purchase of kitchen cabinets and other remodeling and home furnishing improvements.

Congressmen Henry Johnson (D-GA) and Nathan Deal (R-GA) have sponsored the legislation called the Home Improvement Revitalize the Economy (HIRE) Act of 2009. The Act would give individual consumers and joint filers respectively a $2,000 or $4,000 tax credit for purchasing items that meet recognized environmental standards (LEED, NAHB, Green Globes, SFI/FSC and ESP). Retailers, contractors and building product resellers can receive up to $10,000 for covered purchases.

“Not only would this help stimulate the manufacturing market for home furnishings and buildings products, it would save retail jobs, generate billions in revenue and increase home values at the time when we really need a boost,” according to Johnson. “By creating this tax deduction, we will offer incentives for consumers who would otherwise forego spending in 2009 and 2010. We will encourage environmentally sound practices by doubling the benefits for the purchase of building products and home furnishings that meet nationally recognized environmental standards.”

Check out the recent article in Professional Remodeling online or the KCMA website to learn more.

What can you do to support this bill? Contact your representative and ask that he or she co-sponsor the bill.

Choose the right words

Why are some people “glass half empty” and some people “glass half full” kind of folks? Why do some see only the negative in a situation while others see opportunity?

The fact is we choose the words we use to describe our situation. So if we describe a situation as a problem or a disaster that is exactly what it is.

Describe a situation as an opportunity and that is what it is.

The language we use reflects a certain reality but it also deflects a competing reality. So the person who chooses negative words to see a situation as a disaster is unable to see it any other way. There are no opportunities in that situation.

And vice versa.

Start looking at your situation as an opportunity. It may not be the best situation you could want but look for the positives. Maybe you've cut your spending to bare bones and found yourself more appreciative of what you have. Or you've been able to devise some new low cost marketing strategies to reach your target market. Take action to move yourself toward those new opportunities.

This Week’s Key Indicator Report

This week’s Key Indicator Alert from Hanley Wood Market Intelligence is not a particularly positive report. Other than mentions of the slightly positive housing news from the last report, there is also mention of the higher unemployment rate (which I’m sure you have all heard about on the news). The positive spin is that we are losing fewer jobs. But the unemployment rate is still the highest it’s been since 1983. When I graduated from college in 1981, I remember looking in the Washington Post for a job in my field and finding one listing! What did I do? Stayed in the job I had during college until the recession was over.

The other news is that national average mortgage interest rates have declined this week. That may get more people into the housing market as fear of missing out on low rates could take hold. When rates were rising over the last couple of weeks, there were fewer refinance applications and fewer home purchases.

Be award that earnings season starts soon and the markets could show some volatility in the upcoming weeks.

Here's what you can do: Stay positive. And take positive action. I know it’s hard with all of the negativity surrounding us day in and day out. Take the time now to build your business skills. And keep moving forward.