Here’s the overview for this evening’s report. First, we’ll look at HUD and the U.S. Census Bureau’s November 2018 conventional housing data.
Then, compare that to the data that was just published today on HUD Code manufactured homes for November of 2018.
Finally, we’ll wrap this evening up with a brief, but relevant to industry pros, advocates, and investors commentary.
The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for November 2018:
Building Permits
Privately‐owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1,328,000. This is 5.0 percent (±1.6 percent) above the revised October rate of 1,265,000 and is 0.4 percent (±1.7 percent)* above the November 2017 rate of 1,323,000. Single‐family authorizations in November were at a rate of 848,000; this is 0.1 percent (±1.4 percent)* above the revised October figure of 847,000. Authorizations of units in buildings with five units or more were at a rate of 441,000 in November.
Housing Starts
Privately‐owned housing starts in November were at a seasonally adjusted annual rate of 1,256,000. This is 3.2 percent (±9.8 percent)* above the revised October estimate of 1,217,000, but is 3.6 percent (±9.4 percent)* below the November 2017 rate of 1,303,000. Single‐family housing starts in November were at a rate of 824,000; this is 4.6 percent (±8.4 percent)* below the revised October figure of 864,000. The November rate for units in buildings with five units or more was 417,000.
Housing Completions
Privately‐owned housing completions in November were at a seasonally adjusted annual rate of 1,099,000. This is 0.4 percent (±8.7 percent)* above the revised October estimate of 1,095,000, but is 3.9 percent (±11.5 percent)* below the November 2017 rate of 1,144,000. Single‐family housing completions in November were at a rate of 772,000; this is 5.4 percent (±7.6 percent)* below the revised October rate of 816,000. The November rate for units in buildings with five units or more was 314,000.
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Let’s put that data in the manufactured home perspective.
So, at the same time frame that manufactured homes dropped, conventional housing starts and permits – many times higher in retail price – were still rising.
Here’s is the latest from MHARR on the data.
Production Decline Continues in November 2018 | Manufactured Housing Association Regulatory Reform
Washington, D.C., January 3, 2019 – The Manufactured Housing Association for Regulatory Reform (MHARR) reports that according to official statistics compiled on behalf of the U.S. Department of Housing and Urban Development (HUD), HUD Code manufactured home production declined once again in November 2018.
A state association, Manufactured Housing Institute (MHI) cheer-leader, Amy Bliss-led Wisconsin Housing Alliance (WHA), are still putting out late this afternoon MHI propaganda. They did so even in the face of such disturbing numbers, as is linked in the report, above.
The WHA’s own newsletter is now projecting possible problems for 2019. Really? After months of MHI claiming all the good they are doing for building on the industry’s ‘progress’?
In defense of state executives in general, there are many who believe they have no choice but to put out MHI’s ‘stuff.’ Recall the Gold Rules report, which arguably still very much applies. See that by clicking the link below.
The industry’s fundamentals are sound.
- Product quality overall and customer satisfaction are good.
- Third-party reports that take a dive into the facts are often positive.
- Despite stormy stocks, the economy is overall good too.
The only common sense conclusion that an objective person who studies the issues can come to is that the so-called leaders of manufactured housing are failing the industry.
The Arlington-Omaha-Knoxville Axis (A-OK Axis ) can dress these failures up any way they want to. We are already hearing the whispers of what their spin is going to be when the MHI monthly report comes out, later this month. We’ll fact-check it for you.
But the Monopolistic Housing Institute (MHI) has been called out, Clayton Homes, 21st Mortgage and the Berkshire Brands have been called out for their BS.
Fertilizer is useful for growing certain things, but as a trained MD, let me say that consuming BS is not recommended for humans.
See related reports, further below. More on this in the days ahead.
Just remember, it has been MHARR that for years has warned the industry that a new post-production association is needed. Today’s data is more proof.
MHARR Recommending Independent Collective Representation for Post-Production
Washington, D.C., November 15, 2017 – The Board of Directors of the Manufactured Housing Association for Regulatory Reform (MHARR) has authorized the public release of a comprehensive internal study by the Association of the past, present and future representation of the post-production sector (PPS) of the federally-regulated manufactured housing industry.
It was MHI award-winner Marty Lavin that said that MHI was working for the interests of the big boys. Today’s data is more proof.
MHProNews has been alone in the industry’s trade media at giving warnings of what is to come, for some years.
As pro-industry trade media, we’ve been laying out the facts, while most others in the industry’s trade media are laying out happy talk that is just hot air.
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