Author name: MHProNews

Record low mortgage rates, but weak economy keeps many buyers on sidelines

By / / Manufactured and Modular Housing News

Bloomberg reports that U.S. mortgage rates tumbled 4.12 percent, the lowest in at least four decades. “Homebuyers are not responding to these record-low interest rates,” said Patrick Newport, economist at IHS Global Insight in Lexington, Massachusetts. “The reason interest rates are dropping recently is that the outlook for the economy […]

Record low mortgage rates, but weak economy keeps many buyers on sidelines Read More

Ben Blows, investors froze, stocks close low, manufactured housing slides too

By / / Manufactured and Modular Housing News

CNNMoney reports that Fed Chief Ben Bernake’s address failed to impress investors, even though big Ben said the Fed could use certain “tools” to help stimulate the economy if needed.  The Dow fell 11,295.96 -118.90 (-1.04%).  The Yahoo! Finance Manufactured Housing Composite index value slipped even faster, to  821.6 (-3.12%).

Ben Blows, investors froze, stocks close low, manufactured housing slides too Read More

Canadian factory builder comes to the U.S.

By / / Manufactured and Modular Housing News

Fitsnews reports that Toronto Canada based Innovative Composites International, Inc. (ICI) has announced it will build a new production facility in Orangeburg County, SC.  The $9.3 million investment is expected to generate 300 new jobs over five years. “South Carolina has provided us with an excellent location for our new

Canadian factory builder comes to the U.S. Read More

Malibu and Maxey reminds us some ‘mobiles’ are worth millions

By / / Manufactured and Modular Housing News

CalgaryHerald reports on a story MHProNews.com has previously covered, that even ‘mobile homes’ (sic) on the Malibu, CA coast can be worth millions.   Two gated, ocean-view communities in Malibu – Paradise Cove and Point Dume Club – struggled during the downturn. “In 2008 and 2009 people were just scared to

Malibu and Maxey reminds us some ‘mobiles’ are worth millions Read More

Dow roars, Manufactured Housing stocks rises too

By / / Manufactured and Modular Housing News

CNNMoney reports that the Dow rallied today to close at 11,414.86. +275.56 (+2.47%). The Manufactured Housing Composite Value: 848.0 +4.67%. Affiliated Managers Group 85.31 +5.02 (6.25%).  Clayton Homes, Vanderbilt Mortgage and Finance and other MH builders, lending and housing suppliers parent company Berkshire Hathaway 106,120.00, +3,545.00 (+3.46%). Cavco Industries 35.71 +1.64

Dow roars, Manufactured Housing stocks rises too Read More

New March date attracting strong support for MH Show

By / / Manufactured and Modular Housing News

Sources tell MHProNews.com that momentum is building for the return of the 2012 Great Southwest Home Show.   “The Great Southwest Home Show gave us a great platform to introduce and sell our Rocky Mountain Series.” said Howard McGirt, General Manager  of Southern Energy Homes of Texas.  Kurt Kelly of Mobile

New March date attracting strong support for MH Show Read More

GE completes 8+ Mil Refi for Manufactured Home Community

By / / Manufactured and Modular Housing News

NewsJournalOnline reports that Florida-based Amicorp Inc. secured an $8.25 million dollar refinance on their 207 home-site manufactured home community, named The Oaks. Amicorp’s plans for The Oaks include having new homes built and installed on 7 vacant sites, as well as other improvements.  “We were able to get a better

GE completes 8+ Mil Refi for Manufactured Home Community Read More

McClellan says Housing downturn is masking true U.S. inflation rate

By / / Manufactured and Modular Housing News

BusinessInsider reports that the housing bust’s resultant weak home prices are actually masking the true rate of inflation in the U.S.. Editor Tom McClellan stated “I’ll bet you did not know that housing makes up 42% of the Consumer Price Index (CPI).  All the rest of it, food, energy, clothing,

McClellan says Housing downturn is masking true U.S. inflation rate Read More

Rent Control battle ground between some residents and MHCs

By / / Manufactured and Modular Housing News

MercuryNews reports on the ever-developing story of Capitola coast’s Sand and Surf manufactured home land-lease community. Bill Newman was featured, an 86 year old resident who protested a 250 page lease and its terms at the risk of going from from $285 to $2,500 a month on his site fees.

Rent Control battle ground between some residents and MHCs Read More

GCP wing buys Cheektowaga Manufactured Home Community for $6M

By / / Manufactured and Modular Housing News

BuffaloBizFirst reports the Parkside Village manufactured home community, one of the area’s largest has been sold.  The 156-site land lease community, located on Crabapple Lane in Cheektowaga, NY was sold by Shamrock Mill Co-Parkside LLC of Paradise Valley, Ariz., to GCP Parkside Village LLC, a Clearwater, Fla.-based investment group, affiliate

GCP wing buys Cheektowaga Manufactured Home Community for $6M Read More

Codray’s CFPB hearing heats as 44 Republican Senators demand change

By / / Manufactured and Modular Housing News

Politico reports President Obama’s new Consumer Financial Protection Bureau (CFPB) and its proposed director were held in partisan gridlock at Senate confirmation hearings Tuesday. Sen. Richard Shelby (R-Ala.) reiterated his plan to block former Ohio Attorney General Richard Cordray from leading the agency, unless the CFPB is restructured as a

Codray’s CFPB hearing heats as 44 Republican Senators demand change Read More

Economic stall drops Dow, MH Composite rises

By / / Manufactured and Modular Housing News

CNNMoney reports that the Dow Jones Industrial Average closed at 11,139.30,  -100.96 ( -0.90%).  While the initial fall was worse, stocks rallied later in the day.  The Yahoo! Financial Manufactured Housing Composite Index bucked that trend and rose today, 810.2 up +0.46%. Affiliated Managers Group, 79.01 -1.28 (-1.60%). Clayton Homes, Vanderbilt Mortgage

Economic stall drops Dow, MH Composite rises Read More

UMH presenting to Philadelphia Securities Association

By / / Manufactured and Modular Housing News

PRNewswire reports that UMH Properties will be presenting to the Philadelphia Securities Association on Wednesday, October 12, 2011.  The presentation will be at at the Union League of Philadelphia, PA. Eugene W. Landy, Chairman of the Board, and Michael P. Landy, Executive Vice President, will present an overview of the

UMH presenting to Philadelphia Securities Association Read More

Sun Communities shares tops residential REITs in Debt to EBITDA Ratio

By / / Manufactured and Modular Housing News

Zacks reports that among the following five companies in the residential real estate investment trust (REIT) industry, Sun Communities shares ranked the best in their Debt to EBITDA ratio.   The measure of a debt’s pay back is the the Debt/EBITDA.  According to this metric, the longer the payback period increases

Sun Communities shares tops residential REITs in Debt to EBITDA Ratio Read More

Opportunity Knocks via HUD’s Rural Innovation Fund

By / / Manufactured and Modular Housing News

HattiesburgAmerican reports that $5 million for Native American tribes who face unique housing and community development challenges has been set aside by the  Department of Housing and Urban Development (HUD).  The award was part of a total of 46 for the $28 million Rural Innovation Fund, a new initiative by

Opportunity Knocks via HUD’s Rural Innovation Fund Read More

Modulars media darlings? But panelizers have hotter stats

By / / Manufactured and Modular Housing News

Builderonline reports on the phenomenon of modular building being “a media darling.”  Builder’s internal statistics are said to show that modular building articles are among their best read.  Nevertheless, only 3.6% of new construction today is modular, according to the National Association of Home Builders (NAHB) Research Center.   Stick framers

Modulars media darlings? But panelizers have hotter stats Read More

Murrieta proposes new restrictions for Manufactured Homes

By / / Manufactured and Modular Housing News

MurerietaPatch reports the Murrieta City Council is set to vote Tuesday on amending its regulations for manufactured and pre-HUD Code mobile homes.  “The City now desires to limit the age of a manufactured or mobile home…to promote and ensure the aesthetic quality of neighborhoods, to minimize the devaluation of communities

Murrieta proposes new restrictions for Manufactured Homes Read More

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