“With our national debt well above $20 trillion, now is the time to reverse the trend of climbing government spending. The President’s federal budget commits to restraint while prioritizing funding to rebuild our national defense and strengthen America’s borders,” according to the White House website.
Our sister MHLivingNews site made the case during the Obama Administration that the federal government could in a fairly reasonable time frame significantly reduce federal housing spending, while creating new homeowners and good jobs in the process. That report was called “Reinventing HUDs Role in Quality Affordable Housing, Reducing Poverty and Dependency,” and is linked here. Think about that report plus others as you look at White House data provided to MHProNews today on just how much the federal government is spending on housing programs.
Regular readers please note there are a few tweaks to some of the standard portions of our evening market/investing report. Read carefully as some changes of the ‘standard text’ that follows before our left-right headlines and also in other features near the end of tonight’s reports.
Every evening our headlines that follow provide snapshots from two major media outlets on each side of the left-right news spectrum that reflect topics that influence or move investor sentiment. In moments on this business evening report, you can get ‘insights-at-a-glance.’
This report also sets the broader context for manufactured housing markets, in keeping with our mantra, “News through the lens of manufactured homes and factory-built housing” ©.
We begin with headlines left-of-center CNN followed by right-of-center Fox Business. We share closing tickers and other related data courtesy of Yahoo Finance, and more. 5 to 10 minutes reading this MHProNews market report every business night could save you 30 minutes to an hour of similar reading or fact-gathering elsewhere.
Perhaps more important, you will get insights about the industry from experts that care, but also dare to challenge the routine narrative that arguably keeps manufactured housing underperforming during an affordable housing crisis.
Headlines from left-of-center CNN Business.
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- In race for holiday shoppers, retailers promise speedy deliveries and tech in stores
- Honda plans to go all-electric by 2022, three years earlier than originally planned
- Analysis: The trade war is destroying American profit
- Stocks finish higher ahead of earnings
- Mark Zuckerberg grilled by Congress over Libra and political ads policy
- Opinion: If Facebook doesn’t launch Libra, someone else should
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Headlines from right-of-center Fox Business.
- Amazon accused of selling clothes from factories where workers are ‘trapped’
- Amazon is accused of selling clothes on its website from factories in Bangladesh and elsewhere where working conditions are unsafe.
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- WATCH: Trump says US energy was ‘under relentless assault’ from Obama admin.
- Energy Sec. Rick Perry: Trump is ‘doing what he said he would do’
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- Stocks finished little changed as Dow heavyweights Boeing, Caterpillar rise
- WATCH: Blacklisted Huawei still plans to work with US companies, SVP says
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- WATCH: Martha Stewart roasts Felicity Huffman’s prison look
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- Facebook CEO Mark Zuckerberg’s response when asked if he’s a capitalist
- Democratic senators look to repeal SALT deduction with special vote
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- Trump says Turkey will make Syria cease-fire ‘permanent,’ lifts sanctions
- Amazon selling clothes from Bangladesh factories where working conditions are unsafe: report
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10 Market Indicator Closing Summaries – Yahoo Finance Closing Tickers on MHProNews…
Tonight’s Business/Market/Political Impact Spotlight –
The data that follows is from the White House Office of Budget and Management (OMB), specifically, from Table 11.3—Outlays for Payments for Individuals by Category and Major Program: 1940–2024. That document is available linked here as a download. We highlighted in yellow the portion that deals with federal housing expenditures. Keep in mind that state and local governments may spend money on housing too.
For historical context, in 1971 and 1972, here were the totals. The spending shown below is in millions of dollars. So 1971 is $735 million dollars.
Note that those years pre-HUD Code mobile homes were on the rise, soon to hit their historic highs, prior to the enactment of the HUD Code for manufactured housing which occurred in 1974, and took effect on June 15, 1976.
Fast forward to 2015 and the last two years of the Obama Administration, noting that the 44th president’s administration was also responsible for the 2017 budget.
The spending shown below is in millions of dollars. So, 2015 is $46.745 billion dollars.
|2019 estimate||2020 estimate|
|2021 estimate||2022 estimate|
One may recall that there were protests against HUD Secretary Carson and the Trump Administration for the ‘cuts’ in spending, although they were within ½ a billion dollars of 2017 spending. In hindsight, some of those protestors were linked to organizations that had ‘dark money’ funding from Warren Buffett. Estimates for 2019 and 2020 indicate increases in spending, but there has still be pushback on spending levels that were higher than those of many, but not all, of the Obama years.
On March 19, 2019, MHProNews provided a snapshot of the views of manufactured home community owner Marge Clark. In a nutshell, she argues that manufactured housing is competing against federal spending on housing.
When someone looks at the historical trends, she has an interesting point.
There are 2020 candidates who are advocating a boost to spending on housing programs, which would arguably be a potential threat to manufactured housing independents, depending on how those programs are structured.
As some already know, there are several reasons why the 2020 political races could have serious ramifications for manufactured housing companies and investors. See the related reports for more.
Manufactured Housing Industry Investments Connected Closing Equities Tickers
Some of these firms invest in manufactured housing, or are otherwise connected, but may do other forms of investing or business activities too.
- NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services, a manufactured home industry lender
- NOTE: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).
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