NAHB, Like Its Members, Has To Make Budget Cuts

Washington, DC, Dec. 11, 2008-- The National Association of Home Builders is cutting $11.5 million from its operating budget to ride out one of the worst housing downturns in the country's history.

"In my 20 years at NAHB, including the past eight years as President and CEO, this is by far my toughest and most difficult decision," said Jerry Howard.

"The stark financial realities confronting our association and industry cannot be ignored. Projected income from NAHB's two principal sources -- membership and trade shows - will be down significantly in 2009."