Augus t 2022 NEWSLETTER To promote, educate and advocate for the Residential Building & Remodeling Industry; providing resources that benefit industry professionals and consumers in the communities we serve. PWB SCHOLARSHIPS PRESENTED TO 5 AMAZING YOUNG LADIES ….more details inside WHATS INSIDE Check out the highlights from the Herschel E. Johnson Golf Classic! Pictured: Ambassador Floor - 1st Place Winner 2023 RAFFLE WIN $500 WEEKLY Upcoming Events: NEW 2023 Annual Raffle!  Sept. 16 Rocking On The River  2023 Home Show Information & Floor Plan New Home Starts Report Golf Outing Recap PWB Scholarship Recipient Highlights Belleville Infill Development Request Contractor Wage Theft Seminar Recap Pritzker’s Emergency Power NAHB Articles: Fed Lift Rates to Combat Inflation Housing Affordability Membership Renewals MORE INFO ON NEXT PAGE Page 1

ON THE COURSE SPONSORS Hole Sponsors 1st National Bank of Waterloo Allen Roofing & Siding BOS - Bank of Springfield Broadview Screen Busey Bank Carrollton Bank CertainTeed Chick Fritz Drake Construction Fairway Independent Mortgage Corp. FCB Banks First Mid Bank & Trust Fulford Homes Garrett E. & Herschel E. Johnson R.E & Dev Greater Gateway Association of REALTORS Goley Insulation Heartland Turf Farms JA Painting Johnson Home Contracting KB Contracting Light Brite Lombardo Homes REALTORS Association of Southwestern Illinois Red-E-Mix SCI Engineering Sherwin Williams Superior Home Products Wausau Supply Wells Fargo Home Mortgage Wilke Window & Door Golf Accessory Give-a-way Sponsors Exclusive Cart Sponsor Beverage Stand Sponsors Ambassador Floor Champion Waterproofing Doma Earthworks Guaranteed Rate Hallmark Building Supplies SLD Enterprises Wells Fargo Home Mortgage COURSE CONTEST SPONSORS Belleville Supply Company Chesley Fence Custom Marble Hallmark Stone Klein’s Brand Source Martin Glass Professional Women in Building Council RP Lumber Vogt Builders Wells Fargo Home Mortgage Exclusive Beverage Cart Sponsor Page 2

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2022 Professional Women in Building Scholarship Recipients Emily Reinneck has been awarded a $1,500 scholarship. Through her time at Mascoutah High School, Emily was the Student Body President, Class President, on High Honor Roll, participated in Student Council, Beta Club, Yearbook Productions, Future Business Leaders of America, Reading Across America, and a member of the National Honor Society. Emily participated in softball and golf where she was awarded a varsity letter for both. She also played for H2 Volleyball in St. Louis and Metro East Vortex Volleyball. Throughout her academic career, Emily amassed over a 4.0 GPA. She now pursues her childhood dream of becoming an Interior Designer at the Western Kentucky University. Allison Zaiz has been awarded a $1,500 scholarship. Through her time at Belleville West High School, she was a member of the National Honor Society where she served over 50 hours of community service. Allison was also a member of the National English Honor Society, National German Honor Society, National History Honor Society, & National Math Honor Society. She participated in Little Theater and is a member of the Thespian Troupe, an honor society which members have dedicated over 300 hours to theater. Allison received the Best Technician Award and IHSA Sectional Championship in Drama for multiple years. Throughout her academic career, Allison amassed a 5.0 GPA and ended high school ranked #1 in her class. She now pursues her dream by majoring in Interior Design at Maryville University while gaining experience with a summer internship at a local designer. Bailey Stambaugh has been awarded a $1,000 scholarship. Through her time at Freeburg Community High School, Bailey was an active member of the Saturday Scholars program, a math tutor, a member of the National Honor Society, and a member of the Varsity Academic Challenge team who won 4th place overall at the State level and 3rd in chemistry at the regional level. Bailey ended her high school career having amassed a 5.24 GPA, multiple varsity letters in softball, volleyball, and cross country as well as being an Illinois State Scholar and a Rotary Student of the Month. Bailey grew up surrounded by the construction life with her dad being a construction worker. This blossomed into the dream of becoming a civil engineer which is what she pursues now as she transitions to the University of Southern Indiana. Jackie Butler has been awarded a $500 scholarship. Through her time at Triad High School, Jackie was on Honor Roll, High Honor Roll, Vice President of Spanish Honors Society, awarded the Award of Excellence in English and a varsity letter for academics. Jackie was also apart of Triad’s Link Crew, were she helped incoming freshmen transition into high school as well as help tutor fellow students in all subjects. Jackie has spent the past couple years helping, parttime for the Home Builders and Remodelers Association. Here she had the opportunity to meet and learn from the local builders as well as the ins and outs of home building. This helped her receive the National Housing Endowment Student Scholarship, a $2,000 scholarship from the National Association of Home Builders. Jackie now pursues the next chapter in her life at St. Louis University where she will be majoring in biology. Virgie Jones has been awarded a $500 scholarship. Through her time at Cahokia High School, Virgie tutored other students, and was on the Honor Roll. She has participated in Introducing Girls Into Engineering at the Southern Illinois University of Edwardsville for multiple years as well as found amazing experiences in the Trio Upward Bound and SMASH programs. Virgie was also involved in Student Commerce, Interact, was a member of the National Honor Society, played softball, and was the treasurer of her class. Virgie amassed a 4.6 GPA throughout the years of high school, ending in the top 10% of her class. She now pursues her dream of becoming a civil engineer at the Southern Illinois University of Edwardsville. Page 4

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Fed Lifts Rates by 0.75% Again to Fight Inflation but Housing Already in a Recession Continuing its fight to rein in stubbornly high inflation, the Federal Reserve yesterday hiked the federal funds rate by 75 basis points to an upper bound target of 2.5% following a similarly aggressive move in June. The Fed rate hikes slow the economy by making business and consumer borrowing costs more expensive. This has already had an impact on the interest rate sensitive housing sector, which is now in the midst of a housing industry recession. In fact, just about every housing indicator is showing signs of weakness, including seven straight months of declines for home builder sentiment. Single-family starts and permits both fell below a 1 million annual pace and to a two-year low in June, and new home sales also plunged in June, marking the second time that sales fell below a 600,000 annual pace since Oct. 2018. Adding in declines for pending home sales and rising sales cancellation rates clearly paints a picture of a weakening housing sector. Indeed, there is also an open question whether the entire economy experienced a recession during the first half of 2022. Government data released this morning shows that preliminary gross domestic product fell 0.9% in the second quarter, marking the second consecutive quarter of negative growth. Some analysts define two consecutive quarters of negative economic growth as a recession but the National Bureau of Economic Research is usually the final arbiter. At a news conference yesterday, Fed Chairman Jerome Powell said he did not think the economy was in a recession and that preliminary GDP numbers should be “taken with a grain of salt” because they are often revised significantly. Powell also cited other areas of the economy that are performing well, including the low unemployment rate. However, he did acknowledge that the path to avoiding a recession has grown narrower than just a few months ago and that “it may narrow further” as the Fed continues to stand behind tough choices to curb inflation that climbed to 9.1% in June, a 40-year high. “Restoring price stability is something we have to do,” Powell said. “There isn’t an option to fail to do that, because that is the thing that enables you to have a strong labor market over time.” Following the largest two back-to-back rate hikes since 1994, market participants have reduced their expectations for future aggressive Fed rate hikes, which is perhaps a sign of renewed confidence in the ability of the central bank to bring inflation down (even if it means a recession in the so-called hard landing scenario). Higher interest rates and lower economic growth will eventually bring inflation rates down. The path of required additional tightening will depend on economic growth and inflation data, moving the Fed to a more data dependent stance. This is a signal that the Fed could slow the pace of its rate hikes in the coming months. NAHB Chief Economist Robert Dietz provides more analysis in this Eye on Housing blog post. Click here for more ——> Page 6

1st National Bank of Waterloo Ambassador Floor Ameren Illinois Bank of Springfield Busey Bank C.A. Jones C.A. Jones / Wausau Supply Co Carrollton Bank Crown C Supply (Arrowhead) FCB Banks First Mid Bank & Trust First Mid Bank & Trust Flawless Foundations Fulford Home Remodeling Fulford Homes Page 7

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Garrett E. & Herschel E. Johnson RE & Development Halloran Construction Helitech Henges Interiors Johnson Home Contracting Liese Lumber Liese Lumber Light Brite Lombardo Homes Red-E-Mix Midwest Block & Brick Roofer’s Mart Sherwin Williams / Wilke Window & Door Sherwin Williams / JA Painting Spencer Homes Timmerman Concrete Wells Fargo Home Mortgage Page 9 Yaekel & Associates

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2023 Home Show Floor Plan Page 11

Views from the Course Our annual Herschel E. Johnson Golf Classic was a huge success. Thank you all for showing up and showing out. We had a great time out at the Far Oaks Golf Course. Page 12

A Flight Winners: 1st Place = Ambassador Floor: 54 2nd Place = First Mid Bank & Trust: 57 3rd Place = JA Painting: 57 Cooler Donation Winner Joe Carson - Lombardo Homes B Flight Winners: 1st Place = Light Brite: 64 2nd Place = Sherwin Williams: 64 SPONSORED BY: Golf Club Raffle: 3rd Place - A Flight JA Painting 3rd Place = Wells Fargo Home Mortgage: 64 50/50 WINNER = Scott Jacob, Jacob Family Enterprises Skins WINNERS = JA Painting, Wausau Supply, Midwest Block & Brick Golf Club Raffle WINNER = Dave Benton, First Mid Bank & Trust Longest Drive Men’s = Tom Patton, Remington Properties Longest Drive Women’s = Julie Huelsmann, First Mid Bank & Trust Longest Putt = Jennifer Hays, C.A. Jones Inc. Straightest Drive = Mark Millay, Sherwin Williams Closest to the Pin Men’s = Aaron Hogan, C.A. Jones Inc. Closest to the Pin Women’s = Tricia Buehne, First Mid Bank & Trust On the Green = Richard Shemwell, Liese Lumber 3rd Place - B Flight Wells Fargo Home Mortgage Fling Shot = Adam Timmermann, Timmermann Concrete Chip Shot = James Johnson, Johnson Home Contracting Marshmallow Drive = JC Henry, 1st National Bank of Waterloo Page 13

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2022 MEMBERSHIP UPDATES RENEWING MEMBERS AUTCO Home Appliances - 12 years Authorized Appliances - 4 years Bank of Hillsboro - 11 years Belfor Property Restoration - 5 years Bank of Springfield - 7 years Busey Bank - 28 years C.A. Jones Inc. - 27 years Carrollton Bank - 3 years City of Trenton - 1 year Closet Factory - 13 years D & F Home Builders - 23 years Electro Door Systems - 41 years First Mid Bank & Trust - 6 years 1st National Bank of Waterloo - 14 years PROFESSIONAL WOMEN IN BUILDING COUNCIL RENEWALS Drake Construction Chesley Fence & Deck Srogus Construction Hallmark Stone - 14 years Jacob Sunroom & Exteriors - 40 years Klein’s Brand Source - 21 years Lantz Jones - 5 years Madison County Planning & Development - 6 years Negwer Materials, Inc. - 22 years New Tradition Homes - 18 years O’Fallon Electric Company - 35 years Osborn Homes, Inc. - 20 years PASS LLC - 30 years St. Clair Stairs, LLC - 2 years Timmermann Concrete - 2 years Town and Country Bank - 4 years Tyler Painting & Drywall Co. - 4 years REMODELERS COUNCIL RENEWALS Page 19

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OFFICERS P L A T I N U M President, Mike Lippert Liese Lumber 1st Vice President, Mike Needles C.A. Jones, Inc. 2nd Vice President, Steve Macaluso Halloran Construction, Inc. Associate Vice President, Jerry Yaekel Yaekel & Associates Treasurer, Richard Coolbaugh First Mid Bank & Trust Secretary, Jon Edler Henges Interiors DIRECTORS G O L D S I L V E R Allen Roofing & Siding B R O N Z Page 21 Jason Klein - Ameren Illinois Erik Huber - Bank of Springfield Matt Warren - Carrollton Bank Mary Ann Lopez Drake - Drake Construction Coy Mullenix - CMI Construction Michelle Rauk - Eagle Flooring Scott Gruber - First Mid Bank & Trust Mark Fulford - Fulford Construction Robert Dee, Jr. - Homes by Deesign Scott Blumberg - Huntington Chase Steve Dill - SLD Enterprises Josh McDermott - J.T. McDermott Remodeling Contractors Derek Brandmeyer - Light Brite Aaron Klemme - Klemme Construction Jason Huelsmann - New Tradition Homes David Padgett - Padgett Building & Remodeling Ron Padgett - Padgett Building & Remodeling Scot Lehr - Quality Installation & Home Improvement Jeff Schmidt - RLP Development Sue Schultz - Sandberg Phoenix & von Gontard P.C. Mike Rathgeb - Spencer Homes Mark Vogt - Vogt Builders, Inc.

6100 West Main Street Maryville, IL 62062 Phone: 618-343-6331 E-mail: tbutler@hbrmea.org Web: www.hbrmea.org Page 22

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