“Whether we call it a housing bubble or not, the current situation is untenable. Prices are rising, homeownership is increasingly out of the reach of many Americans, and the alternative (renting) is also increasingly expensive, especially in the most job-rich parts of the country,” said left-leaning VOX on June 7, 2021. In a prior interview on CNBC, billionaire Jeff Greene made “a fortune” betting against the housing market in the runup to the 2008 housing/finance crash. In answer to the question, are we in a housing bubble now? Green said: “Absolutely. I think we’re in an omni-bubble. How long does it last? It depends. How long do you keep the faucet open and this money running?”
Per left-leaning CNBC:
- Billionaire Jeff Greene made a fortune betting against the housing market over a decade ago before it crashed.
- He told CNBC on Friday he believes the hot housing market is in a bubble once again.
- he believes the current housing market is in a bubble.
- “Absolutely. I think we’re in an omni-bubble. How long does it last? It depends. How long do you keep the faucet open and this money running?” billionaire Jeff Greene said
To be clear, there are those who insist that this is different than 2008. The toxic liar loans are not part of the current mix, some housing pros point out. There may be more voices in that camp than among those who say – like Greene – that we are indeed in a housing bubble already.
Per left-leaning MarketWatch: “As with the surge in demand, the rise in home prices isn’t artificial, unless you consider the coronavirus pandemic a temporary and/or artificial force fueling house prices. … Home builders have only ramped their operations back up in the last couple of years, experts say;” on April 21, 2021.
But what is a housing bubble?
Investopedia describes it this way. “A housing bubble, or real estate bubble, is a run-up in housing prices fueled by demand, speculation, and exuberant spending to the point of collapse. … At some point, demand decreases or stagnates at the same time supply increases, resulting in a sharp drop in prices—and the bubble bursts.”
In a July 8, 2021 article on Yahoo news about housing and the talk of a bubble, it opens like this. “In 2008, a housing bubble that had been inflating since 2004 inhaled its last breath and finally popped — and what a pop it was. The financial markets lost 30% of their value as foreclosure signs sprung up on front lawns across the country. The economy buckled under the weight of a credit crisis, mortgage crisis, banking crisis, employment crisis and housing crisis.”
Yahoo noted that there are concerns that the U.S. is in, or soon will be in, a housing bubble. It then explained a bubble in this segment of their report.
A “bubble” forms when an already hot housing market — like the one America has been experiencing for months — becomes inflated with artificially and unsustainably high prices.
It all starts when demand for housing increases and supply starts to dwindle, a dynamic that can only lead to rising prices. As inventories fall, desperate buyers start spending even more money on houses that by this point are selling well above market value. That’s blood in the water for speculators, who then flood the market with more money as they try to cash in on the trend. Eventually, buyers give up, demand craters and prices plummet back to Earth — that’s when the bubble bursts.
What remains is a landscape of people trapped in houses that are now worth far less than the amount of money they borrowed to pay for them, their equity negative, their mortgages underwater.” … ##
For emphasis, what Yahoo stated in those last two sentences merits repeating.
- “Eventually, buyers give up, demand craters and prices plummet back to Earth — that’s when the bubble bursts.”
- “What remains is a landscape of people trapped in houses that are now worth far less than the amount of money they borrowed to pay for them, their equity negative, their mortgages underwater.”
Is there something that might be done? Perhaps. This is where manufactured housing, and our industry’s politics, comes into focus.
For context, let’s recall what Mark Weiss, J.D., President and CEO of the Manufactured Housing Association for Regulatory Reform (MHARR) said in recent comments in a report to MHARR members on the underlying insight from a recent Freddie Mac report.
MHProNews has been saying for some time that elements of both opportunities and obstacles are lining up.
This should be viewed through the lens of the recent Q&A by Danny Ghorbani.
Connected to the evidence and logic of that report are the threats to MHI’s much ballyhooed, but apparently doomed CrossModTM plan.
Will MHI step up and do what’s necessary?
Based upon years of the most recent history, a change by MHI and their leadership appears doubtful, unless something compels them to do so. That said, if MHI wanted to make amends, so to speak, to millions of consumers and thousands of arguably betrayed industry professionals, this is the time.
Ironically, the case could be made that conventional housing owners ought to want a surge in manufactured homes. Why? Because only more supply is going to mitigate what many think is an overheating and “unsustainable” mainstream housing market.
The Business Daily Manufactured Home Industry Connected Stock Market Updates. Plus, Market Moving Left (CNN) – Right (Newsmax) Headlines Snapshot. While the layout of this business daily report has recently been modified, several elements of the basic concepts used previously are still the same. The headlines that follow below can be reviewed at a glance to save time while providing insights across the left-right media divide. Additionally, those headlines often provide clues as to possible ‘market-moving’ items.
Market Indicator Closing Summaries – Yahoo Finance Closing Tickers on MHProNews…
Headlines from left-of-center CNN Business = evening of 7.27.2021
- The fight for workers
- An employee gathers shopping carts at Walmart, July 22, 2020 in Burbank, California.
- Walmart will cover the total cost of college tuition and books for its workers at some schools
- Home prices can’t go straight up forever. But this probably isn’t a bubble
- Higher prices could be here to stay if the Fed doesn’t act soon
- Opinion: Higher prices will ease by this time next year
- These are the industries where jobs still haven’t returned
- There’s a jet fuel shortage at some US airports
- Vaccine shortage holds back developing world as rich economies roar ahead
- More than 140 business leaders urge lawmakers to pass infrastructure bill
- Goldman Sachs slashes US economic growth forecast over weaker spending on services
- Employees sign petition denouncing video game company’s ‘abhorrent’ response to lawsuit
- A surprising tech company could be next to join the Dow
- Philip Morris wants cigarettes banned in the United Kingdom by 2030
- Tesla vehicles at charging stations outside a store in Rocklin, California, U.S., on Wednesday, July 21, 2021. Tesla Inc. is scheduled to release earnings figures on July 26.
- How Tesla made more than $1 billion
- Campbell’s soup cans get first redesign in 50 years
- VAN HORN, TEXAS – JULY 20: Jeff Bezos speaks about his flight on Blue Origin's New Shepard into space during a press conference on July 20, 2021 in Van Horn, Texas. Mr. Bezos and the crew that flew with him were the first human spaceflight for the company.
- Jeff Bezos offers NASA $2 billion to get Blue Origin back in the moon race
- Quote search
- WEALTH COACH
- Got a job offer? There’s more to negotiate than just your salary
- How to invest as the Delta variant takes hold
- The best financial advice you ever got
- How to retire a millionaire
- 6 steps to avoid running out of money in retirement
- SUPPLY AND DEMAND
- Boxes of General Mills Inc. brand Cinnamon Toast Crunch cereal for sale at a store in White Plains, New York, U.S., on Friday, March 19, 2021. General Mills Inc. released earnings figures on March 24.
- Why your cereal boxes and ice cream cartons are shrinking
- Shrinkflation is the fad diet no one needs
- What it’s like working in a restaurant right now
- You may be waiting longer for your Domino’s pizza
- Taco Bell is facing a food shortage
Headlines from right-of-center Newsmax – evening of 7.27.2021
- Revised CDC Guidance: Resume Indoor Mask Use Where Cases Are Surging
- Newsmax TV
- Reschenthaler: Jan. 6 Probe Nothing but ‘Political Theater’
- Texas AG Paxton: Running on Experience With Trump’s Backing
- Babin: Block Grant Bill Allows States to Access Wall Money |
- Rubio: Biden’s Cuba Actions ‘Meaningless’ |
- Byron Donalds: Chicago Mayor Lightfoot ‘Should Step Down’ |
- ‘QAnon Shaman’ Attorney: Client Suffering Mental Issues Behind Bars |
- More Newsmax TV
- Twitter Suspends Accounts Linked to US Election Audits
- The silencing of conservatives by Twitter has extended to those seeking to audit the 2020 presidential election results, including the first of its kind in Maricopa County, Arizona……. [Full Story]
- Death of Legendary Pilot Dale Snodgrass Shocks Aviation Community
- Dale Snodgrass, a well-known figure in the aviation community, [Full Story]
- Judges Force Maryland, Indiana to Resume Additional Unemployment Benefits
- Judges in Maryland and Indiana have recently ruled that the states [Full Story]
- ‘Eric Bolling The Balance’ Debuts on Newsmax
- It’s a show for everyday Americans, covering the issues that truly [Full Story]
- Newsmax Crushes Fox in Key Ratings During Trump Rally
- Newsmax’s live coverage of former President Donald Trump’s Phoenix [Full Story]
- Poll: 6 in 10 Conservative Republicans Say Trump Should Have Lot of Influence in GOP
- More than 80% of Republicans want former President Donald Trump to [Full Story]
- Revised CDC Guidance: Resume Mask Use Indoors in US Where Cases Are Surging
- The Centers for Disease Control and Prevention announced new [Full Story]
- Reimposing Mask Mandates Could Backfire on Biden
- Mask mandates are reemerging across the country even for vaccinated [Full Story] |
- Florida Babysitter Charged With Murder 37 Years Later
- Babysitter Terry McKirchy got a light sentence 36 years ago after [Full Story]
- Side Effects, Antibodies, Personal Choice Fueling Vaccine Hesitancy
- Most Americans who haven’t yet been vaccinated against the [Full Story] |
- Classified Iran Plans For Cyber Attacks Against West Revealed
- Classified documents apparently revealing numerous secret Iranian [Full Story]
- Biden’s Hyper-Inflation, It’s Here!
- Newsmax Magazine special report reveals surprising facts … [Full Story]
- Top Skin Surgeon : Do This Everyday to Get Rid of Wrinkles and Dark Spots
- Trending Stories
- Modulated Light/Sound Therapy Slows Alzheimer’s: Two New Studies
- While efforts to develop Alzheimer’s medications have so far borne [Full Story]
- Two Koreas Agree to Rebuild Ties in Possible Opening for Biden
- North Korea’s Kim Jong Un and South Korea’s Moon Jae-in agreed in [Full Story]
- Marjorie Taylor Greene: ‘I’m Suing Nancy Pelosi’
- Marjorie Taylor Greene, R-Ga., says she is suing House Speaker [Full Story]
- McCain’s Legacy Initiative on Pentagon Waste Is at Risk
- The Senate Armed Services Committee wants to remove a mandated [Full Story]
- Cardinal in Vatican Fraud Trial: My Conscience Is ‘Tranquil’
- A fraud and embezzlement trial over alleged mismanagement of the Holy [Full Story]
- Schumer Says Ending Student-Loan Pause Would Risk US Recovery
- The U.S. economic recovery could take a major hit if the Biden [Full Story]
- Report: New Nuclear Missile Silo Field Being Built in China
- China appears to be building a new nuclear missile silo field, [Full Story]
- Ex-Airman Who Leaked Drone Info Gets 45-Month Sentence
- A former Air Force intelligence analyst was sentenced to 45 months in [Full Story]
- Mexico Homicides Continued to Soar During Pandemic
- The most authoritative count of homicides in Mexico was published [Full Story]
- CDC Set to Reverse, Recommend Masks Indoors for Vaccinated People
- The U.S. Centers for Disease Control and Prevention is expected to [Full Story]
- More Than One-Third of States Tightened Voting Laws This Year
- Republicans’ desire to increase voting integrity has resulted in new [Full Story]
- Arizona Senate Subpoenas Maricopa County Routers
- Arizona Senate Republican leaders have issued a subpoena to Maricopa [Full Story]
- Britney Spears’ Lawyer Seeks to Oust Singer’s Father From Conservatorship
- An attorney for Britney Spears on Monday asked a Los Angeles court to [Full Story]
- ‘A Bit Much’: Pressure Gets to Naomi Osaka in Olympic Loss
- It wasn’t the ending that Naomi Osaka – nor her fans across Japan and [Full Story]
- Police Who Defended US Capitol to Testify at Jan. 6 Probe’s 1st Hearing
- Four police officers who worked to defend the U.S. Capitol from a mob [Full Story]
- 1st Person Charged Under HK Security Law Found Guilty
- The first person charged under Hong Kong’s national security law was [Full Story]
- Former Wyoming Sen. Mike Enzi Dies After Bicycle Accident
- Former Wyoming Sen. Mike Enzi Dies After Bicycle Accident
- Retired Sen. Mike Enzi, a Wyoming Republican known as a [Full Story]
- Dem Ex-Sen. Boxer, 80, Assaulted, Robbed in Oakland
- Democrats have frequently panned Republican and conservative media [Full Story]
- More Newsfront
- Philip Morris to Stop Selling Cigarettes in UK Within 10 Years
- Philip Morris International’s chief executive told the Daily Mail on Sunday his company will stop selling cigarettes in Great Britain within the next decade. Jacek Olczak, who became the company’s CEO in May… [Full Story]
- Judges Force Maryland, Indiana to Resume Additional Unemployment Benefits
- Publisher Gannett Strikes 1st of Its Kind Deal With Sports Betting Outfit
- Biden Revives Trump’s Africa Business Initiative; Eyes Future Digital Project
- One for the Road: Glenfiddich Uses Whisky Waste to Fuel Trucks
- More Finance
- Cleaning Up the Air Could Help Prevent Alzheimer’s
- Air pollution causes you to gasp and wheeze. Smog puts strain on your heart and inflames your lungs. Could dirty air also be costing you your brain health? A trio of new studies finds that air quality appears linked to a risk of thinking declines and dementia, and bad air… [Full Story]
- Beware of These 8 Foods That are Toxic to Cats
- How to Choose the Best Blood Pressure-Lowering Drug For You
- Second COVID Shot Safe in People With Allergic Reaction to First
- Moderna Expanding Kids Vaccine Study to Better Assess Safety
Manufactured Housing Industry Investments Connected Equities Closing 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).
- NOTE: Deer Valley was largely taken private, say company insiders in a message to MHProNews on 12.15.2020, but there are still some outstanding shares of the stock from the days when it was a publicly traded firm. Thus, there is still periodic activity on DVLY.
MHProNews. MHProNews – previously a.k.a. MHMSM.com – has celebrated our 11th year of publishing, and is starting our 12the year of serving the industry as the runaway most-read trade media.
Sample Kudos over the years…
It is now 11+ years and counting…
Learn more about our evolutionary journey as the industry’s leading trade media, at the report linked below.
· For expert manufactured housing business development or other professional services, click here.
· To sign up in seconds for our industry leading emailed headline news updates, click here.
Disclosure. MHProNews holds no positions in the stocks in this report.
That’s a wrap on this installment of “News Through the Lens of Manufactured Homes and Factory-Built Housing” © where “We Provide, You Decide.” © (Affordable housing, manufactured homes, stock, investing, data, metrics, reports, fact-checks, analysis, and commentary. Third-party images or content are provided under fair use guidelines for media.) (See Related Reports, further below. Text/image boxes often are hot-linked to other reports that can be access by clicking on them.)
By L.A. “Tony” Kovach – for MHProNews.
Tony earned a journalism scholarship along with numerous awards in history. There have been several awards and honors and olso recognition in manufactured housing. For example, he earned the prestigious Lottinville Award in history from the University of Oklahoma, where he studied history and business management. He’s a managing member and co-founder of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com. This article reflects the LLC’s and/or the writer’s position, and may or may not reflect the views of sponsors or supporters.