KKOB RADIO - AUGUST 4 & 5, 2008
PETER ST. CYR

STORY ONE:

MONDAY: 1230p 4 PM

TUESDAY: 5AM

A LOT OF YOU HAVE HEARD THAT NEW MEXICO IS BETTER OFF THAN OTHER STATES WHEN IT COMES TO HOME SALES. THE VICE CHAIRMAN OF THE NEW MEXICO MORTGAGE FINANCE AUTHORITY AGREES. MIKE SIVAGE TELLS 770 KKOB NEW MEXICO , LIKE OTHER STATES, IS PULLING BACK ON HOUSING PERMITS.

SIVAGE SOUNDBITE [VERBATIM]: ALBUQUERQUE , OBVIOUSLY HAS BEEN HIT VERY HARD. WE'RE A VERY LARGE METROPOLITIAN AREA. WE'RE CURRENTLY BUILDING AT ABOUT 40 PERCENT OF OUR PEAK PERMITS. BUT, EVEN PLACES LIKE LAS CRUCES IS BUILDING AT 46 PERCENT OF IT PEAK PERMIT LEVEL, AND SANTA FE , EVEN WORSE TODAY, IS BUILDING AT 15 PERCENT OF IT'S PEAK PERMIT LEVEL.

SIVAGE, WHO ALSO A BUILDER, SAYS THE REASON HOME SALES IN NEW MEXICO ARE BETTER THAN IN OTHER STATES IS THE CREATION OF JOBS. HE SAYS MAINTAINING A HEALTHY HOUSING SECTOR IS DEPENDENT ON CONTINUED JOB GROWTH ACROSS THE STATE.

STORY TWO:

MONDAY: 3 PM 7PM

TUESDAY: 6AM

NEW MEXICO MAY NOT HAVE MAJOR HOUSING PROBLEMS LIKE OTHER STATES.

BUT, THE NEW MEXICO MORTGAGE FINANCE AUTHORITY SAYS WE HAVE OTHER CHALLENGES. FOR ONE, A LACK OF AFFORDABLE HOUSING IN CITIES LIKE SANTA FE HAS CONTRIBUTED TO A SHORTAGE OF COPS AND FIREFIGHTERS IN THE STATE CAPITAL. THE M-F-A'S VICE-CHAIR MIKE SIVAGE SAYS CONSTRUCTION FINANCING IS GETTING TIGHT. BUT HE TELLS US THE STATE'S FORECLOSURE RATE IS STILL IN GOOD SHAPE.

SIVAGE SOUNDBITE [VERBATIM]: WE ONLY HAVE, CURRENTLY, ONE IN EVERY 739 HOMES THAT'S ACTUALLY IN FORECLOSURE FILING, VERUS THAT NATIONAL AVERAGE OF 1 IN 71; SO, WE HAVE SOME BRIGHT SPOTS THERE."

SIVAGE SAYS ANOTHER BRIGHT SPOT IS JOB GROWTH ... WHICH HAS KEPT HOME SALES UP. BUT HE ADDS IT'LL TAKE CONTINUED JOB GROWTH TO KEEP THE HOUSING SECTOR HEALTHY.

STORY THREE: 5 PM 9PM

SO FAR ... SO GOOD FOR NEW MEXICO HOME SALES. THE NEW MEXICO MORTGAGE FINANCE AUTHORITY MET TODAY (MON) TO DISCUSS THE PROS AND CONS OF THE INDUSTRY HERE ... AND SAYS HOME SALES ARE STILL PRETTY GOOD BECAUSE THE STATE IS CREATING JOBS. MFA VICE CHAIR MIKE SIVAGE SAYS CONTINUED JOB GROWTH IS NEEDED TO MAINTAIN A HEALTHY HOUSING SECTOR. BUT HE TELLS 770 KKOB THERE'S STILL A SLOWDOWN ... AND IT'S MADE CONSTRUCTION FINANCING TIGHTER.

SIVAGE SOUNDBITE [VERBATIM]: BANKERS OVER THE PAST YEARS HAVE ADDED TO THEIR LOAN PORTFOLIOS THROUGH CONSTRUCTION FINANCING.

AND, AS THEY'VE SEEN THIS SLOWDOWN THEY'RE NOW CURTAILING THEIR INVESTMENT IN REAL ESTATE. SO, I THINK THAT'S GOING TO HAVE SOME IMPACT ON BUILDERS AS THEY DON'T HAVE THE CREDIT AVAILABILITY TO CONTINUE TO BUILD THE HOMES THEY WERE BUILDING."

SIVAGE ALSO SAYS BUILDING PERMITS ARE DOWN IN THE STATE'S BIGGEST CITIES: ABQ, LAS CRUCES AND SANTA FE .