Although all three indexes are up seven to ten percent for the year, the U. S. stock market took a breather today after choppy trading on the big board. Some analysts speculate a pullback may be in the works, and that it would be a healthy thing for the market. […]
Investors Step Back; Most Housing Stocks We Cover Drop Read More
While MHProNews reported Jan. 21, 2013 that Seattle-based modular builder Greenfab would have two modular homes at Las Vegas’ National Association of Home Builders (NAHB) International Builders Show (IBS), JetsonGreen has provided pictures of the homes. Each was comprised of five modules, and required five hours to finish the initial
PRNewswire reports from Freehold, NJ, MHC owner operator UMH Properties, Inc. announces its financials for 2012 and the Q4 2012. Its Core Fund from Operations (FFO) grew from $9,218,000 for the year ending Dec. 31, 2011 to $10,010,000 year-over-year 2012. Total income increased from $39,313,000 in 2011 to 46,828,000 in
UMH Issues Financials for 2012 Read More
ConstructionWeekOnline reports from Saudi Arabia that Red Sea Housing Services Company, LTD has signed a (SAR120m) $31.9 million credit facility agreement with Al-Rajhi Bank, (SAR50m) $13.3 million of which is for the financing of special projects, and (SAR70m) $18.6 million to acquire building materials. The agreement will expire in one
Red Sea Housing Obtains Financing Read More
In their monthly report, the Manufactured Housing Institute (MHI) informs MHProNews the 4,190 MH shipped in Jan. is a 6.2 percent increase in production of manufactured homes in Jan. 2013 over Jan. 2012, representing a rise in both single-section as well as multi-section homes. Total floors shipped in Jan. 2013
Number of MH Plants and Corporations Remains the Same Read More
“The appetite among lenders and investors for commercial and multifamily mortgages grew during the fourth quarter,” said Jamie Woodwell, Mortgage Bankers Association’s (MBA) vice president of commercial real estate research. “The fourth quarter saw the largest increase in commercial and multifamily mortgage debt outstanding since 2008.” HousingWire informs MHProNews outstanding
Multifamily and Commercial Mortgages Increase Read More
CNNMoney tells MHProNews according to RealtyTrac 4.8 million borrowers have lost their homes to foreclosure since the housing bubble, and another 2.2 million let go of their homes in short sales. But many of them are coming back, and they are searching for a new place to live. Veterans Administration
Returning from Default Read More
According to originationnews, economists at Wells Fargo Securities have suggested that institutional investors account for 20 percent of existing home sales, but as the inventory of preferable distressed properties declines, investors may pull back from the market. Traditional homebuyers who need mortgages are not returning to the market in numbers
Wells Fargo: Caution; B of A: Full Steam Ahead Read More
Investors were spurred on by positive economic data and talk that a budget compromise will be reached before the March 27 deadline, leading the Dow to a fifth straight record day as all three indexes rose. CNNMoney reports the Dow Jones Industrial Average moved up +0.35 percent, +50.22 points, to
Dow Climbs Fifth Day; Housing Stocks Close Mixed Read More
WoodworkingNetwork informs MHProNews that Universal Forest Products, Inc. (NASDAQ:UFPI) has developed a “fiberized thermoplastic-mineral composite that replicates the fibrous structure of wood.” It’s durability, strength, stability, aesthetic, and workability are equal to or better than wood, and improves upon the strength of wood-plastic composites. Eovations, as it is called, can
New Composite Outperforms Wood, other Composites Read More
According to theaustralian, the Twynam Group of Sydney, Australia has acquired modular home manufacturer Quicksmart Homes and intends to produce 2,000 new homes per year in the next five years. Part of Kahlbetzer Investments, which has extensive agricultural and livestock holdings across Australia, as MHProNews has discovered, Twynam’s real estate
Kahlbetzer Adds Modular to Holdings Read More
U.S. employers added 236,000 jobs in February, including 48,000 construction jobs, reflecting the upswing in the housing market. As MHProNews has learned from CNNMoney, the unemployment rate dropped to 7.7 percent, its lowest level since 2008. In the last five months builders have added 151,000 construction jobs, the highest number
Construction Jobs Adding Up Read More
OregonLive informs MHProNews Method Homes and Skylab Architecture have partnered on the modular HOMB House, a series of 100 square foot triangular modules that fit together like a honeycomb. With four bedrooms, three-and-a-half baths, the house in Portland, OR has 2,700 square plus an excavated basement of 1,200 square feet.
Triangular Modules Create Sharp-angled Modern House Read More
MHProNews has learned from beachcarolina the Onslow County Manufactured Home Demolition Assistance Program (MHDAP) offers financial assistance in the demolition of abandoned manufactured homes. Funded by a combination of Onslow County and applicant contributions in cases where a home needs to be removed because it poses a public health hazard,
Program Demolishes Abandoned MH Read More
A better than anticipated jobs report and drop in the unemployment rate pushed the Dow to another new high. All three major indexes are now up between seven and nine percent on the year, and two percent this week. CNNMoney reports the Dow Jones Industrial Average moved up +0.47 percent,
Dow Sets another Record; Skyline Flying High Read More
The brenhambanner from Brenham, Texas. reports a variance that would have allowed the construction of a 106-site manufactured housing community has been voted down by the Brenham City Council. As MHProNews has learned, Adolph Wehmeyer had requested the variance. Brenham is just northwest of Houston. (Image credit: Wikipedia)
MHProNews has learned from the National Modular Housing Council (NMHC) shipments for Q4 2012 rose 4.3 percent from Q4 2011 to 3,206 homes. Compared to the fourth quarter of 2011, state shipment totals show 11 states had increases of shipments, 12 states indicated a decline, and 11 states experienced insignificant
Modular Shipments Rise Read More
According to capegazette.villagesoup, Delaware State Representative Ruth Briggs King, whose race we covered last Nov. 2, 2012, represents District 37, which consists of 25 percent manufactured home residents. In response to a letter to the editor in the capegazette, Rep. King writes of the legislation she intends to introduce that
Legislator Outlines MHC Agenda Read More
The American Banker informs MHProNews the Federal Housing Administration (FHA) is issuing its own QM rule because the Consumer Financial Protection Bureau (CFPB)’s may conflict with the FHA’s Single-Family Program. HUD spokesman Brian Sullivan states FHA has the authority under Dodd-Frank to create its own ability-to-repay rule, and will be
FHA Prepares Own QM Ticket Read More
As washingtonpost informs MHProNews, while Fannie Mae and Freddie Mac have been vilified for allegedly causing the financial meltdown, for being bailed out by the government to the tune of $131 billion, and for taking business from private firms, neither the Democrats nor the Republicans are actively doing much to
Overhaul Fannie and Freddie? Why? Read More
