CNNMoney reports that stagflation, recession and Euro-debt concerns are among the factors that caused investors to retreat, with a sharp decline on the markets today. The Dow closed down at 10,990.88, off -419.33 -3.68%. The Manufactured Housing Composite index dropped even more sharply, to 744.3, off -4.93%. Affiliated Managers Group …
Bears Back, Dow down over 400, Most MH dive, Nobility Homes bucks trend Read More
Forbes reports that the Sage of Omaha – billionaire investor Warren Buffett – believes that housing is the key to the economic recovery. Buffett, whose Berkshire Hathaway owns Clayton Homes, Vanderibilt Mortgage, and other factory built housing, lending and building suppliers, believes most banks and corporate profits are in good …
Signal reports that Sal Aranda and NAR’s chief economist Lawrence Yun have taken public stands against elimination of the mortgage-interest tax deduction. Aranda stated that “Realtors believe that changes to the mortgage-interest deduction now, or in the future, could threaten recent progress toward stabilizing the housing market…critically erode home prices …
Forums says Tax Break necessary for housing market, U.S. Economy Read More
HuffPost reports on a public exhibition of The Futuro House. Designed by Finnish architect Matti Suuronen’s Futuro House was created in the late 1960s. The prefab ‘kit’ style home was designed to be highly portable. First presented at an October 1968 fair in London, it met with considerable public interest. …
News-Journal reports that Michael Dunn’s third effort at getting an okay for a development for manufactured homes has meet with approval by the Planning and Zoning Commission. The proposal now moves on to the city council, where a simple majority on September 8 could clear the way for Dunn’s project. …
New manufactured housing development planned near Greggton Read More
CNNMoney reports that the Dow closed today at 11,409.91 up +3.98 (+0.03%). The Dow’s 52 week range has had a low of 9,937 and a high of 12,876. The markets are off -1.46% Year-to-Date. Yahoo! Finance Manufactured Housing Composite value closed at 783.0, up +0.12%. Affiliated Managers Group, closed down …
Dow continues steady recovery, Manufactured Housing Composite rises Read More
BlueRidgeNow reports that Roger King has been charged with two counts of obtaining property by false pretense. North Carolina Division of Insurance Commissioner Wayne Goodwin stated that authorities are looking for other possible victims of the accused manufactured home retailer. The Manufactured Building Division and the Department of Insurance received …
Marketwatch reports The National Association of Home Builders/Wells Fargo home market index remained at 15 in August. Readings over 50 are considered “good,” which the NAHB report hasn’t had since April 2006. Two of the three components, current sales conditions and traffic of prospective buyers, inched higher, but the component …
Builder confidence still near bottom, per NAHB report Read More
AnnistonStar printed a letter from Sherry Norris, executive director of the Alabama Manufactured Housing Association in Montgomery. Norris responded to Alabama Governor Robert Bentley’s proposal to use Community Development Block Grant funds for use in shelters for all forms of housing, not just in ‘mobile and manufactured home parks.’ “Rather …
Norris advocates balance responsing to Gov. Bentley’s Manufactured Home storm shelter plan Read More
SunJournal reports that Keiser Homes won half of $4 million contract to build homes for the Maine State Housing Authority (MSHA). The Oxford based modular home producer will be replacing pre-HUD Code mobile homes, as part of MSHAs pre-1976 Mobile Home Replacement Program. The program provides such home owners with …
TheHill reports a push back from the Treasury Department on an earlier Washington Post report that alleged that President Obama favored a plan retaining a major federal role in the housing finance market. Deputy Treasury Secretary Neal Wolin stated “In each of the three options we outlined in our report …
Mixed signals on Federal role, Fannie and Freddie Future uncertain Read More
RealEstateRama reports that U.S. Housing and Urban Development Secretary Shaun Donovan announced that HUD will be entering into an unprecedented purchase agreement to sell real estate owned properties (REO) to public housing authorities in the affected areas. By States and Counties, the locations this program will be available include: Alabama: …
HUD announces new plan, REOs selling to public housing authorities in disaster areas Read More
CNNMoney reports that the Dow closed at 11,405.93, off -76.97 (-0.67%). While the market is up modestly over the last 5 trading sessions, overall the market has declined significantly in recent weeks. The Manufactured Housing Composite Index Value: 782.1 up +3.43%. Affiliated Managers Group 87.44 -2.50 (2.78%). Clayton/VMF and other …
Dow Slides again, but Manufactured Housing Composite value rises Read More
HuffingtonPost carried a column by Ted Kaufman, former U.S. Senator from Delaware. Kaufman’s article questions if the Dodd-Frank reform; “Would it actually prevent another taxpayer bailout of a bank or banks to avoid a financial meltdown?” Delaware’s former senator briefly outlined the history of mortgage instruments, which in the 1960s …
Does Dodd-Frank really help with ‘Too Big to Fail?” Read More
WashingtonPost reports that despite near record low interest rates, the National Association of Home Builders (NAHB) is pessimistic about a housing market recovery. A Catch-22 exists. We need more spending, yet existing home owners watching their current values slump keep many in that large group from doing more spending. Against …
Eonline has likely done mainstream media, the RV and manufactured housing business a favor by visually depicting what a ‘trailer’ is in their recent story on Ashton Kutcher. Kutcher has replaced Charlie Sheen on the set of Two and a Half Men. The 1000 square-foot, two level luxury trailer is …
Ashton Kutcher’s luxurious Two and a Half Men ‘Trailer’ Read More
ConcordMonitor reports that federal funding is allowing the New Hampshire Community Loan Fund and various Community Action Programs to help weatherproof at least 425 ‘mobile homes’ statewide. A $2.6 million grant from the U.S. Department of Energy and the Regional Greenhouse Gas Initiative makes this possible. The program is geared …
‘Mobile home’ owners can get help with energy efficiency enhancement program Read More
CNNMoney reports the Dow closed today at 11,483 +214 +1.90%.The Manufactured Housing Composite closed at 756.0 -1.46%. Affiliated Managers Group 89.94 2.98 (3.43%) but moved lower in after hours trading. Berkshire Hathaway (parent to Clayton, VMF and other MH builders, lending and suppliers) 108,600.00 +1,000.00 (0.93%). Cavco Industries, 30.95 0.46 …
TandD reports the Orangeburg County Planning Commission gave unanimous approval to a new zoning classification proposal allowing single-section HUD Code home placement in areas which already have a mixture of site-built, single-sectional and multi-sectional manufactured homes. Commissioners voted to approve the proposal for creating the RS-2, Single-Family/Manufactured Home District and …
Zoning vote could ease locating single sectional manufactured homes Read More
USAToday reports compliance officer Alesia Harlan’s concerns about 300 pages of notices, forms and tax documents for a single home loan, double the tree-killing load prior to Dodd-Frank’s passage. 455 home loans in 2010 created 2 months of work for Harlan, at modest City State Bank in Norwalk, Iowa. “I’ve …
Small banks bruised by new mortgage regulations, giving edge to mega-banks Read More
