Oil has suffered a historic dive as the first quarter of 2020 comes to a troubling close. Per right-of-center Fox Business News, “it’s only going to get worse.” “West Texas Intermediate crude oil, the U.S. benchmark, plunged 67 percent over the past three months to settle at $20.48. Brent crude, …
The Oak Ridger’s reporter Ben Pounds reported on 3.25.2020 that Clayton Homes spokeswoman Gail Rymer confirmed a case of coronavirus hit at their headquarters in Maryville, TN. “He self-quarantined and then sought medical advice,” Rymer reportedly told Pounds, adding that “They did a thorough cleaning of the [Clayton home office] …
Nasdaq, JP Morgan, and MarketWatch are among those market-focused services who have stated that they think that the stock market has already hit bottom. But the reality is that there are voices that are still talking down the economy, including from the St. Louis Federal Reserve. The headline from CNBC …
A longtime managerial-level member of companies engaged in the manufactured housing industry, specifically including firms that are members of the Manufactured Housing Institute, contacted MHProNews regarding a plan. That proposal was to recruit away the workers of manufactured housing producers into rival firms doing onsite work. If a HUD Code …
Spin, posturing, virtue signaling, and cheap shot artists are fairly commonplace in our era. Politicians, their spokespersons and surrogates do it. Something similar can occur with certain business leaders too. Recently, a message was received that led to a series of communications. That series was provided to MHProNews. At this …
“The epidemic goes faster than our bureaucracy“ – Angelo Borrelli Chief of the Italian Protezione Civile (Italy’s version of FEMA) March 23, 2020. The world that you knew 4 weeks ago has been upended. There is a scramble for insights, options, and possible solutions. While emotions – like fear …
According to an informed source, the steps being taken in Canada – which is in some cases are being established in the U.S. in the wake of the coronavirus outbreak has created new problems for the owner/operators of land lease manufactured home communities. A specific comment from a pro-industry professional …
“Finance of America [FAM] told brokers of its, “Temporary Suspension of the following products: Apex, Flex, HBX and Reveal. All loan activities under Apex, Flex and HBX products, including loan fundings, have been ceased. Only those wholesale loans in our pipeline that have final loan docs signed and dated on …
CNBC has usefully highlighted developing issues that dovetail nicely with manufactured home industry related topics raised by MHProNews sometimes several weeks ago. Tonight’s featured focus will be just such a spotlight report. If you are an ethically minded investor or professional, wonderful. If you have been harmed or have …
There is no denying that the construction industry has been as upended in several respects as other sectors of the American or global economies. The COVID19 pandemic has caused some states to close down construction by factory builders, while other states have permitted it. Furthermore, mortgage servicing, rental and an …
CNBC says that private equity firms have a record $1.5 trillion dollars in cash “ready to deploy” and that “they have been waiting for this” kind of market drop. Perhaps not this severe a decline, that source said, but ready for such an event should it come. A dramatic economic …
The world as we knew it knew earlier this year has changed dramatically. Roughly 1/3 of the nations have some form of lockdown in place. U.S. Senators in quarantine have floated the notion of appearing in protective gear in Congressional chambers that might resemble something the garb worn by Russia’s Vladimir …
“You never let a serious crisis go to waste. And what I mean by that it’s an opportunity to do things you think you could not do before.” – Rahm Emanuel, former Chief of Staff to President Barack Obama and former Mayor of Chicago. Source: per BrainyQuotes. The headline quote …
In a White House press conference on 3.23.2020, President Donald J. Trump assured Americans that the economically painful measures being taken won’t be a more harmful “cure” for the U.S. than the deadly and harmful consequences of the Coronavirus outbreak. The president took the opportunity to praise Asian Americans and …
The Mortgage Bankers Association (MBA) President and CEO Bob Broeksmit has issued a sobering warning that should be a wakeup call on both commercial and residential lending. We also have some interesting comments from a top executive of a Manufactured Housing Institute (MHI) member company that operates in the land-lease …
As longtime industry members may recall, Marty Lavin is a manufactured home industry success story. His career included manufactured home finance, communities, retail and more that was honored with one of the Manufactured Housing Institute’s (MHI) highest awards during a time when their awards were arguably less political. “My friend …
“In New York, which is becoming this nation’s epicenter of the virus outbreak, Gov. Andrew Cuomo ordered all nonessential businesses to close by 8 p.m. Sunday,” said MNPRNews. “California, Illinois, New York and New Jersey are among the growing list” of states that have ordered shelter in place emergency executive orders, said USA Today. …
It is no longer business as usual, and hundreds of millions of Americans have learned. The proverbial party is, at least for now, over. Professionals, investors, advocates and others should strive to know how this scenario has come to be. Our factory-built housing profession and most others face the most …
The ugliest week for the markets since the 2008 housing/financial crisis has closed. A Democratic and some Republican Senators are under scrutiny for purportedly selling stocks off based upon insider information, a claim they deny and Fox Businesses Charlie Gasparino says would be difficult to hit the technical legal standard …
The Washington, D.C. based Manufactured Housing Association for Regulatory Reform (MHARR) has told MHProNews that they are following a two-track approach in the battle against discriminatory placement of HUD Code manufactured homes. One of those tracks is the full enforcement of the Manufactured Housing Improvement Act (MHIA) of 2000, specifically, …
