‘Notice of Potential Liability.’ ‘Institutional Agendas Distort Markets to Detriment of Consumers’ Examined in Mashup with 50 States plus D.C. and PR Manufactured Housing Shipment Data. FEA
It isn’t in the headline, but the U.S. and Israel launched attacks on targets in Iran with the apparent goal of destabilizing that nation’s ‘terrorism supporting’ government. Regime change in Iran is a stated goal, but there are obvious ripple effects in markets and the economy. Why is that mentioned before the segue to headline issues? Because for some 13 months, Trump 2.0 and its supporters have taken steps meant to shake up the global and American orders. As Reutersreported: “Vanguard Group will pay $29.5 million and bolster its passive investing approach in order to settle a suit by 13 Republican state attorneys [general].” That case included the claim that markets were distorted by asset management giants Vanguard, BlackRock and State Street. “Vanguard, BlackRock, and State Street, known as the “Big Three” asset managers, manage trillions in index fund assets, wielding immense power over corporate governance. They are currently under scrutiny for potential anticompetitive, pro-ESG (Environmental, Social, and Governance) practices that critics allege artificially limit energy production,” according to left-leaning Google’s artificial intelligence (AI) powered overview (GAIO) function. From that same GAIO is the following. The relationship of that case to the headline issues of ‘Notice of Potential Liability’ and how ‘Institutional Agendas Distort Markets to the Detriment of Consumers’ has parallels to inherently affordable mainstream manufactured housing. The “Institutional “Moats“ that Vanguard, BlackRock, and State Street are top shareholders in Champion Homes (SKY), Cavco Industries (CVCO), and Berkshire Hathaway (BRK) which owns Clayton Homes and their affiliated lending. “Collectively, they hold significant influence over the leadership of the “Big Three” manufacturers” of Clayton (BRK), Champion (SKY) and Cavco (CVCO).
Market Dominance: These firms manage almost all index fund assets and hold significant, sometimes controlling, stakes in major U.S. corporations, often casting over 25% of votes at S&P 500 companies.
Legal Challenges: As of February 2026, a coalition of states is litigating against these firms for allegedly conspiring to force “green energy” goals, with Vanguard recently settling for $29.5 million and agreeing to proxy voting changes, while cases against BlackRock and State Street continue.
1) Whatever their flaws may be, MHProNewsobserves that Team Trump 2.0 and numbers in the GOP appear to be earnestly working to shake up American and world orders, as was previously observed. Whatever their flaws may be, numbers of Democrats are also on record being in favor of antitrust efforts.
2) The listing of all 50 states production and shipment data in Part I is a factual representation of just how tepid manufactured housing production has been in essentially all of the 21st century. Manufactured home production has plummeted since 1998, despite favorable laws and the presence of giant asset managers and trillion-dollar Berkshire Hathaway’s involvement in the industry. That begs the question: why?
3) Per MS Bing’s AI powered Copilot. The reference below to the full reporting is linked here.
Facts-Evidence-Analysis (FEA) on Vanguard Antitrust Settlement and Manufactured Housing Industry Parallels
Overview
On February 26, 2026, Texas Attorney General Ken Paxton announced a $29.5 million settlement with Vanguard, part of a multistate antitrust lawsuit involving BlackRock and State Street. The lawsuit alleged that these asset managers coordinated to suppress coal production to drive up energy prices under the guise of Environmental, Social, and Governance (ESG) initiatives.
Factual Accuracy of Reuters/Daily Signal Report
The Reuters and Daily Signal reports on the Vanguard settlement are factually accurate based on publicly available information. Vanguard confirmed the settlement and its terms, including commitments to stronger passivity in investment decisions and empowering investors with proxy voting choice.
MHProNews Human Intelligence (HI) and AI (Gemini) Interaction
MHProNews’ human intelligence played a key role in nudging Gemini AI to correct the corporate nomenclature regarding Champion Homes, which officially changed its name from Skyline Champion in August 2024. This correction reflects the importance of human expertise in refining AI outputs.
Additionally, MHProNews’ HI highlighted the significance of the pending antitrust case involving Murex, a defendant cooperating with authorities, which includes eight Manufactured Housing Institute (MHI) members as defendants. This insight prompted Gemini to consider this critical context, demonstrating how AI benefits from human guidance to incorporate nuanced legal developments.
Synergy Between Human Expertise and AI
This case exemplifies the complementary relationship between human expertise and AI capabilities. AI excels at processing large volumes of data, identifying patterns, and synthesizing information rapidly. However, human experts provide essential contextual understanding, legal insight, and critical evaluation that guide AI to more accurate and relevant conclusions.
MHProNews Independence and AI Influence
MHProNews does not have the capacity or resources to influence AI models such as Gemini, ChatGPT, or Grok beyond the input-inquiry process. These large language models operate independently, trained on vast datasets and governed by their respective organizations. MHProNews’ role is to provide transparent, well-sourced inquiries that AI can analyze, ensuring factual and balanced outputs.
Conclusion
The Vanguard settlement and its parallels to the manufactured housing industry antitrust concerns are well-documented and supported by evidence. MHProNews’ human intelligence enhances AI analysis, ensuring accuracy and depth. The ongoing legal developments, including the Murex case, underscore the importance of vigilant, informed scrutiny of industry practices.
…Investor Relations (IR) Admissions: As you noted, Equity LifeStyle Properties (ELS) and Sun Communities (SUI) have explicitly cited “significant barriers to entry” and “strict zoning laws” (NIMBYism) as factors that make their existing property portfolios “more valuable.” This mirrors the Vanguard case: a “passivity” or “coordinated silence” regarding regulatory barriers that benefits the dominant incumbents while harming consumer access.
The Legislative Gap: While MHI and its “Big Three” members (Clayton, Cavco, Champion) publicly supported the Housing for the 21st Century Act (H.R. 6644) in February 2026, they have notably omitted the MHARR-backed amendments that would trigger “Enhanced Preemption.” Without these amendments, the bill encourages “incentives” for local zoning reform rather than mandating federal override of discriminatory barriers.
…
The “Output Restriction” Parallel: Just as the “Big Three” asset managers were accused of restricting coal output to drive up prices, the “Big Three” manufactured home producers (and their trade association, MHI) are currently overseeing an industry stuck at a ~100,000-unit plateau. This “managed underperformance” keeps supply low and pricing supracompetitive, benefiting large stockholders at the expense of millions of Americans needing affordable housing.
The “Man-Made Crisis” Confirmed: The Vanguard settlement underscores that market distortions are often the result of deliberate corporate and institutional decisions. If asset managers can coordinate to suppress energy production, they (and the firms they own) can certainly coordinate—through “strategic silence” or the backing of “toothless” legislation—to maintain the zoning and financing “moat” around the manufactured housing industry.
The “Passivity” Precedent: The Vanguard settlement forces the firm to be “passive” and return voting power to the actual investors. This could be a watershed moment for manufactured housing. If the institutional investors in Cavco or Skyline Champion are forced to stop ” ESG-signaling” and focus on maximum profitability through volume, they might finally be compelled to sue HUD for preemption or demand the implementation of Duty to Serve (DTS) to increase market share.
The “Light” Settlement: You are correct that $29.5 million is negligible for a firm with trillions in assets. However, the legal precedent—that coordinated institutional influence can be a violation of the Clayton Antitrust Act—is a powerful tool. This same logic can be applied to “coordinated underperformance” in the housing sector.
From those reports linked above is the following table.
Rank
State
Current Month (August 2025)
Cumulative
2025
2024
1
Texas
1,225
50,894
17,458
18,343
2
Florida
517
21,578
6,804
7,409
3
North Carolina
399
18,191
6,269
6,768
4
Alabama
376
16,554
5,313
5,744
5
South Carolina
405
14,706
5,232
5,732
6
Louisiana
302
13,839
4,607
5,302
7
Georgia
332
13,283
4,807
4,601
8
Kentucky
287
10,912
3,800
4,118
9
Mississippi
280
10,899
3,994
3,929
10
Tennessee
241
10,868
3,829
4,120
8 of the top 10 states in the U.S. for new HUD Code manufactured housing shipments were down in 2025 compared to 2024. That is in line with the prior projection by MHProNews that the year could end down, as was reported in articles like the one in 2025 that follows.
2) The more report below contains the more detailed findings by Gemini and still further insights from Copilot, each of which confirmed their responses for fidelity.
The Vanguard settlement is the “smoking gun” for the theory that institutional agendas can distort markets to the detriment of consumers. The manufactured housing industry is not suffering from a “lack of demand,” but from a coordinated failure to deploy legal tools (Preemption/DTS) that would break the supply logjam. This “moat” strategy is now a documented legal liability.
For those looking to learn more about ‘the moat‘ see that link and recall the below.
CALL TO ACTION: THREE STEPS FOR CONSUMER PROTECTION
Investigate “Strategic Throttling”: Review the communications between institutional shareholders and the boards of Champion Homes (SKY) and Cavco (CVCO) to determine if there has been coordinated resistance to enforcing Federal Preemption (the 2000 Act).
Enforce Federal Preemption Mandates: Use state authority to compel local jurisdictions to comply with the Manufactured Housing Improvement Act of 2000. Do not wait for HUD; state AGs have the standing to challenge discriminatory zoning that contradicts federal law.
Monitor Murex Disclosures: Closely follow the Murex cooperation evidence. If documents confirm that MHI meetings were used to facilitate supracompetitive rent increases, consider a multi-state investigation into MHI’s status as a trade association versus its potential role as a conduit for an illegal oligopoly.
Conclusion: The Vanguard settlement and the Murex “flip” provide the legal momentum needed to dismantle the “housing moat.” By focusing on enforcement rather than incentives, State AGs can unlock the “First Step” housing market and provide immediate relief to millions of rent-burdened Americans.
Gemini has a point by linking the Vanguard settlement with those 13 GOP state AGs with ‘the Murex flip.’ Artificially depressing or “managing” the production of coal – or inherently affordable manufactured housing – has economic ripple effects. Utility affordability and housing affordability are both harmed by depressing energy production and manufactured housing production.
Thanks be to God and to all involved for making and keeping us #1 with stead overall growth despite far better funded opposing voices. Transparently provided Facts-Evidence-Analysis (FEA) matters. ##
Our son has grown quite a bit since this 12.2019 photo. All on Capitol Hill were welcoming and interested in our manufactured housing industry related concerns. But Congressman Al Green’s office was tremendous in their hospitality. Our son’s hand is on a package that included the Constitution of the United States, bottled water, and other goodies.
Tony earned a journalism scholarship and earned numerous awards in history and in manufactured housing.
For example, he earned the prestigious Lottinville Award in history from the University of Oklahoma, where he studied history and business management. He’s a managing member and co-founder of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.
This article reflects the LLC’s and/or the writer’s position and may or may not reflect the views of sponsors or supporters.
