The following are some of the highlights. Over the last 24 years, Habitat has built 100,000 homes in the United States and around the world, using volunteer labor, donations of money and materials, and the sweat equity of the homeowners. The first house will be built next year in Chicago at the NAR convention. The public awareness campaign, which features radio and TV spots, was extended for three more years, starting in 2002. The increased assessment takes effect in 2002.
Home ownership is at a record high and commercial vacancy rates are among the lowest ever seen.
America is experiencing its longest economic expansion and the Federal Reserve has been doing the right thing at the right time. With 25 million more new homes in the next 10 years, we have a major task ahead of us. We are pleased to announce our own Bill Malkasian was asked to sit on the REFormsNet Board. The consumer interface can be integrated seamlessly with brokers or franchises regional and national Web sites. As I mentioned last month, two main items this year will be technology and land use.