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4 Builders at Groundbreaking

June 17, 2020 – The West TN HBA celebrated the 2020 Vesta Home Show at Spring Creek Ranch with socially distanced groundbreaking ceremony. A crowd of local dignitaries, board members, and HBA members spaced out and looked on as builders Dave Moore, Blake Grissom, Griffin Elkington, and Zack Mobley put shovels to the ground.

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Federal Reserve Bank Logo

The Federal Reserve held the federal funds rate at the current 0% to 0.25% range and said it intends to keep its benchmark rate near zero through 2022 as the central bank continues to deploy policy tools to underwrite an emerging recovery for the U.S. economy from the COVID-19 pandemic.

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Man taking class by computer

NAHB Education is offering a variety of dynamic webinars for industry professionals during the month of June. These webinars are specifically designed to help participants expand their knowledge on emerging trends and research, and develop valuable skills, all while learning in a safe environment.

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Touchless Themometor

As businesses in 89 of Tennessee’s 95 counties prepare to implement guidelines for safe reopen and operation, Governor Lee’s Unified-Command has partnered with Economic Recovery Group to secure special pricing on Touchless Thermometers for the state’s close contact businesses. Tennessee-based business owners will have the ability to order this critical piece of equipment through Friday at 4 p.m. CT (or until supplies last).

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Today, Gov. Bill Lee issued the first steps from the “Tennessee Pledge,” the state’s rollout of guidance and best practices for Tennessee businesses in 89 of the state’s 95 counties to keep employees and customers safe during the ongoing COVID-19 pandemic. The first industries to receive guidance through the plan include the restaurant and retail industries.

Lee underscored the Tennessee Pledge plan for safe economic recovery is supported by data showing Tennessee’s curve of novel coronavirus infections hitting a plateau. Lee also pointed to the unsettling economic reality COVID-19 has created in our state.

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OSHA revised its guidance on whether employers are required to record cases of COVID-19 in their Form 300 Logs for reporting occupational injuries and illnesses.

Until further notice, OSHA will not enforce its recordkeeping requirements to require these employers to make work-relatedness determinations for COVID-19 cases, except where: (1) There is objective evidence that a COVID-19 case may be work-related; and (2) The evidence was reasonably available to the employer.

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Inspection Graphic

Beginning Monday, April 13, 2020, the Memphis & Shelby County Office of Construction Code Enforcement will begin offering Remote Video Inspections (RVI). Previously, in-the-home inspections were suspended in response to the concerns regarding COVID-19. Beginning today, inspections for occupied single family residences will resume, but will now be conducted remotely by video only.

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Bounding back graphic

According to columnist, Logan Mohtashami, of housingwire.com, there are five signs that will indicate that the housing marketing is on the rebound:

1. Flattened Curve

2. End of Stay-at-Home Orders

3. 10-Year Yield Goes Above 1%

4. Decline in Credit Stress and Jobless Claims

5. Data from the hardest-hit sectors starts to trend upward

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Cares Act Graphic

In recent weeks, Congress has adopted three bills aimed at stabilizing the economy, with more to come. The most notable of these was the $2.2 stimulus package (the CARES Act) that President Trump signed into law on March 27. This law contains a nearly $350 billion federal small business loan protection program called the Paycheck Protection Program (PPP) that will provide significant loan forgiveness for small businesses with fewer than 500 employees if employers meet certain criteria.

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Stimulus Check graphic

New information from the IRS shines more light on what people can do to get the checks from the government as quickly as possible while many families worry about paying the bills and buying food during the coronavirus crisis that has cost millions of people their jobs.

For Americans eligible for stimulus cash under the new relief law, the fastest way to receive it is to make sure they’ve filed a tax return for 2019 or 2018 with bank information so the government can directly deposit the money.

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