It isn’t just Fannie Mae’s Home Purchase Sentiment Index (HPSI) that is telling the public and housing professionals that this is the worst time in a decade for buying a home. A review of housing headlines reveals a range of challenges facing renters, housing seekers, and others. Gas prices at the pump has dropped in recent weeks, but other costs are rising. With housing routinely being the largest single item on a individual’s, couple’s or family’s budget, cost pressures rising finance rates and still climbing costs in housing has put people in an apparently more sour mood. Fannie Mae’s latest HPSI data to MHProNews is below. It is followed by our Daily Business News manufactured home community REITs and manufactured housing connected equities (stocks) report.
Consumer Sentiment Toward Housing at Lowest Level in Decade
Latest HPSI Reading Shows Consumers Increasingly Concerned by Both Homebuying and Home-Selling Conditions
WASHINGTON, DC – August 8, 2022 – The Fannie Mae Home Purchase Sentiment Index® (HPSI) decreased 2.0 points in July to 62.8, its lowest level since 2011 and well below the all-time high set in 2019. Surveyed consumers continue to express pessimism about homebuying conditions, with only 17% of respondents reporting it’s a good time to buy a home. Meanwhile, the percentage of consumers believing it’s a good time to sell has begun ticking downward in recent months, falling from 76% in May to 67% in July. Overall, four of the index’s six components decreased month over month, including the component associated with home price growth expectations, which has fallen meaningfully over the past few months but remains positive on net. Year over year, the full index is down 13.0 points.
“The HPSI has declined steadily for much of the year, as higher mortgage rates continue to take a toll on housing affordability,” said Doug Duncan, Fannie Mae Senior Vice President and Chief Economist. “Unfavorable mortgage rates have been increasingly cited by consumers as a top reason behind the growing perception that it’s a bad time to buy, as well as sell, a home. Additionally, consumers appear to be indicating that selling conditions are softening, as the ‘Good Time to Sell’ component has declined meaningfully over the past two months, and, on net, fewer consumers expect home prices to go up. With home price growth slowing, and projected to slow further, we believe consumer reaction to current housing conditions is likely to be increasingly mixed: Some homeowners may opt to list their homes sooner to take advantage of perceived high prices, while some potential homebuyers may choose to postpone their purchase decision believing that home prices may drop. Overall, this month’s HPSI results appear to confirm our forecast for moderating home sales over the coming year.”
Home Purchase Sentiment Index – Component Highlights
Fannie Mae’s Home Purchase Sentiment Index (HPSI) decreased in July by 2.0 points to 62.8. The HPSI is down 13.0 points compared to the same time last year. Read the full research report for additional information.
- Good/Bad Time to Buy: The percentage of respondents who say it is a good time to buy a home decreased from 20% to 17%, while the percentage who say it is a bad time to buy increased from 75% to 76%. As a result, the net share of those who say it is a good time to buy decreased 4 percentage points month over month.
- Good/Bad Time to Sell: The percentage of respondents who say it is a good time to sell a home decreased from 68% to 67%, while the percentage who say it’s a bad time to sell increased from 26% to 27%. As a result, the net share of those who say it is a good time to sell decreased 2 percentage points month over month.
- Home Price Expectations: The percentage of respondents who say home prices will go up in the next 12 months decreased from 44% to 39%, while the percentage who say home prices will go down increased from 27% to 30%. The share who think home prices will stay the same increased from 23% to 26%. As a result, the net share of Americans who say home prices will go up decreased 8 percentage points month over month.
- Mortgage Rate Expectations: The percentage of respondents who say mortgage rates will go down in the next 12 months increased from 5% to 6%, while the percentage who expect mortgage rates to go up remained unchanged at 67%. The share who think mortgage rates will stay the same remained unchanged at 21%. As a result, the net share of Americans who say mortgage rates will go down over the next 12 months increased 1 percentage point month over month.
- Job Loss ConcernJ: The percentage of respondents who say they are not concerned about losing their job in the next 12 months remained unchanged at 78%, while the percentage who say they are concerned increased from 21% to 22%. As a result, the net share of Americans who say they are not concerned about losing their job decreased 1 percentage point month over month.
- Household Income: The percentage of respondents who say their household income is significantly higher than it was 12 months ago decreased from 25% to 24%, while the percentage who say their household income is significantly lower decreased from 16% to 13%. The percentage who say their household income is about the same increased from 58% to 61%. As a result, the net share of those who say their household income is significantly higher than it was 12 months ago increased 2 percentage points month over month.
To learn more about Fannie Mae’s Home Purchase Sentiment Index and National Housing Survey consumer attitude measures, please click here. ##
Additional Information with MHProNews Analysis and Commentary in Brief
While there has never been a time quite like this politically, economically, or socially in modern U.S. history, there have been prior phases of American history that had significant social and economic disruption. That noted, most Americans are naturally thinking about their own circumstances. It isn’t just the famous quip by former President William Jefferson “Bill” Clinton’s advisor, James Carville – “It’s the economy, stupid.” It is the specific circumstances for the individual, couple, household, or family that is struggling at their desk, kitchen table, bed or sofa with how they can best navigate troubling times. A steady diet of platitudes and promises that in practice comes up for short everyday Americans of all backgrounds helps explain why special and off-year elections often went against Democrats. When 3 short years ago, housing sentiment was at a high point, per Fannie Mae, is it any wonder why people are moving against the party in power when they are given a chance to vote? But the ‘votes’ are occurring in other ways too. Millions are leaving “blue” (i.e.: Democratic led) states for “red” (Republican governed) states.
Frustration over housing can be seen in a range of data and reports that MHProNews and our MHLivingNews sister site has faithfully provided in recent weeks and months.
These could – indeed have – provided a lift for manufactured housing production and sales.
But at some point, various sources say that manufactured housing could be negatively impacted too. There are already areas that reflect public-sentiment/market blowback.
If the industry’s post-production sector was doing its job effectively, there might be headlines and reports that read like the one below. Where are the attorneys for the Manufactured Housing Institute (MHI)? What are they doing with the millions of dollars collected and spent annually?
Manufactured housing may be ‘up’ relative to a decade ago, but it is still down some 70 percent from the last high of 1998.
That is the metric that independents should be holding their trade associations accountable for, because that is why smaller member firms pay dues.
One day after the FBI raid on deposed President Donald J. Trump’s Mar-a-Lago (MAL) residence occurred, voters handed Trump-endorsed candidates a string of victories. Per right-leaning Breitbart: “Candidates endorsed by former President Donald J. Trump had another immaculate night in statewide and federal races Tuesday, just a day after the Federal Bureau of Investigation raided Mar-a-Lago. His endorsement record now stands at 192-11.”
Is a voter and consumer revolution brewing? If so, how will that play out in MHVille?
Stay tuned to MHProNews reports that provide the details and insights needed to make sense of events.
Next up is our daily business news recap of yesterday evening’s market report, related left-right headlines, and manufactured housing connected equities.
The Business Daily Manufactured Home Industry Connected Stock Market Updates. Plus, Market Moving Left leaning CNN and Right-leaning (Newsmax) Headlines Snapshot. While the layout of this daily business report has been evolving over time, several elements of the basic concepts used previously are still the same. For instance. 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’ news items.
Market Indicator Closing Summaries – Yahoo Finance Closing Tickers on MHProNews…
Headlines from left-of-center CNN Business – from the evening of 8.9.2022
- Battle over bots
- FILE PHOTO: Tesla CEO Elon Musk leaves Manhattan federal court after a hearing on his fraud settlement with the Securities and Exchange Commission (SEC) in New York City, U.S. April 4, 2019. REUTERS/Brendan McDermid/File Photo
- Elon Musk cited this tool in his legal fight with Twitter. Here’s what its creator says
- Good inflation news: Online shopping prices are suddenly falling fast
- A third of Brits face poverty with energy bills set to hit $5,000
- Opinion: Americans are fed up with billionaires. Washington needs to get the wealthy to pay up
- Liz Cheney buys ad spots on Fox News to air viral ad featuring her father condemn Trump
- Analysis: How the extraordinary FBI search of Mar-a-Lago was covered across the media landscape
- Is inflation taking a summer vacation?
- Analysis: Corporate America needs to rethink its knee-jerk reaction to Democrats’ tax plans
- WhatsApp is going to stop letting everyone see when you’re online
- Wendy’s is adding a sweet new treat for breakfast
- Here’s how the Inflation Reduction Act could affect you
- Content by The Ascent
- It’s official: now avoid credit card interest into 2024
- Miami Beach, FL, USA – October 13, 2021: Ihop Restaurant Miami Beach now hiring sign posted
- Richer people are eating more at Applebee’s and IHOP
- Coinbase may have a savior in BlackRock
- Parents can now keep an eye on their teens with Snapchat’s newest safety feature
- SPORTS
- GREEN BAY, WISCONSIN – JANUARY 22: Aaron Rodgers #12 of the Green Bay Packers throws the ball as Jaquiski Tartt #3 of the San Francisco 49ers defends during the NFC Divisional Playoff game at Lambeau Field on January 22, 2022 in Green Bay, Wisconsin. (Photo by Stacy Revere/Getty Images)
- The NFL is debuting a streaming service — with some major caveats
- National Press Club blasts LIV Golf event
- Matthew Berry is leaving ESPN
- John Madden appears on first ‘Madden’ cover since 2000
- Vince McMahon retires from WWE amid hush money investigation
- AROUND THE WORLD
- UK Foreign Secretary Liz Truss listens during a Conservative party membership hustings at the All Nations Centre on August 3, 2022 in Cardiff, Wales.
- The frontrunner to become the UK’s next leader has a risky economic plan
- China posts record $101 billion trade surplus
- Europe gets more bad news as recession fears deepen
- ‘Drill, baby, drill’ is back in Europe as gas crisis looms
- Africa must cut reliance on food imports, says Nigerian billionaire
Headlines from right-of-center Newsmax 8.9.2022
- Pence: ‘Unprecedented’ FBI Raid on Trump Smacks of ‘Partisanship’
- Former U.S.Vice President Mike Pence expressed “deep concern” on Tuesday over the FBI raid on ex-president Donald Trump’s Florida home and said it smacks of “partisanship” by the Justice Department. [Full Story]
- Raid on Trump’s Mar-a-Lago
- NY’s Dem Ex-Gov Cuomo: DOJ Must Explain Raid
- FBI Search of Trump’s Fla. Home ‘by the Book,’ Ex-prosecutors Say
- Biden Was Not Briefed on Trump Raid: WH
- Judge Who Approved FBI Raid Was Linked to Jeffrey Epstein
- Oz: ‘Every Right to be Upset’ About Raid on Trump’s Estate
- Pence Expresses ‘Deep Concern’ About Raid
- Rudy Giuliani to Newsmax: Trump Raid ‘Worst Day’ in FBI’s History | video
- Rick Scott Wants Biden, DOJ, FBI to Explain Raid
- Trump: Time to Start Talking of Making America Great Again
- Trump Raid May Aim to Disqualify Him From Running
- Newsmax TV
- Doug Mastriano to Newsmax: Dems ‘Drunk With Power’ | video
- Marshall: Dems’ Spending Bill ‘Inflationary,’ ‘Job-Killing’ | video
- Dick Morris: GOP Could Pick Up 5-7 Senate Seats in November | video
- Stephen Moore: Senate Dems’ New Spending Bill a ‘Fiscal Atrocity’ for Americans | video
- Herschel Walker: Warnock Voted to ‘Cripple’ Ga. Manufacturing | video
- More Newsmax TV
- Newsfront
- Monmouth Poll: Jan. 6 Hearings Having Little Impact on Public
- The House Jan. 6 select committee hearings have done little to change people’s opinions surrounding the 2021 Capitol attack, a new poll found…. [Full Story]
- FBI Search of Trump’s Florida Home Was ‘by the Book,’ Ex-prosecutors Say
- The Justice Department’s silence about its search of former President [Full Story]
- Pelosi Extends Remote, Proxy Voting for House Members
- House Speaker Nancy Pelosi, D-Calif., on Tuesday extended remote [Full Story]
- Trump ‘Continues to Loom Large Over GOP’ After String of Primary Victories
- Former President Donald Trump’s enduring hold on the Republican [Full Story] | Platinum Article
- Biden Signs Ratification of Finland, Sweden NATO Bids
- President Joe Biden on Tuesday signed US ratification of bids by [Full Story]
- Russia Says It Destroyed HIMARS Ammunition Depot in Ukraine
- Russia’s defense ministry said on Tuesday that Russian forces had [Full Story]
- Related
- Ukraine: Shelling Hits Town Near Russian-Held Nuclear Plant
- US to Send Ukraine $5.5B in New Fiscal, Military Aid
- Russia Halts US Inspections of Its Nuclear Arsenals
- Trump Raid Is ‘Unprecedented,’ ‘Chilling,’ Legal Experts Say
- The FBIs unprecedented, unannounced execution of a search warrant at [Full Story] | Platinum Article
- Military Developing ‘Tactical Brassiere’
- The U.S. military is currently testing a new bra for female soldiers [Full Story]
- Biden Was Not Briefed on Trump Raid: WH
- President Joe Biden was not given advance notice of a raid on former [Full Story]
- DHS to End ‘Remain in Mexico,’ Asylum Seekers to Enter US
- The Department of Homeland Security announced it is preparing to [Full Story]
- Wyoming Dems Implored to Vote for Cheney in GOP Primary
- Dean Phillips, D-Minn., and Tom Malinowski, D-N.J., are asking [Full Story]
- Every School in N.C. District to Have Assault Rifle
- As part of measures to beef up security, a rural North Carolina [Full Story]
- Video: Biden Appears Ready for Handshake Already Received
- President Joe Biden was left standing at a White House ceremony with [Full Story]
- Biden Signs $280B CHIPS Act in Bid to Boost US Over China
- President Joe Biden on Tuesday signed a $280 billion bipartisan bill [Full Story]
- Gallup Poll: Large Majority of Republicans Want Immigration Reduced
- With a large majority of Republicans wanting immigration decreased [Full Story]
- Video Report: Trump Supporters Sound Off on FBI Raid
- Republicans are sounding off on the FBI raid at Mar-a-Lago. National [Full Story] | video
- Rasmussen Poll: Majority Expect to Be Paying Even More for Groceries
- Sixty-one percent of Americans expect to be paying even more for [Full Story]
- Church Gives Illegal Performance of ‘Hamilton’ With Unapproved Themes
- A Texas church stirred controversy after illegally performing a [Full Story]
- Video Report: Another Sign of Deteriorating US-Russia Relations
- Russia no longer is allowing the U.S. to inspect its nuclear [Full Story] | video
- Supreme Court Will Hear Harvard Race Case in October
- The Supreme Court on Oct. 31 will hear cases from Harvard [Full Story]
- Pentagon Confirms Radar Defense Missiles Sent to Ukraine
- The Department of Defense this week acknowledged that the U.S. sent [Full Story]
- Rubio: It’s Clear Jihadists Intend to Target US Again
- Marco Rubio, R-Fla., is warning Americans to pay close attention [Full Story]
- Olivia Newton-John Sold Massive Property Portfolio After Cancer Diagnoses
- Olivia Newton-John sold off most of her real-estate portfolio a year [Full Story]
- Video Report: America Perceived as Weak One Year After Afghan Withdrawal
- “Wake Up America” Jerusalem correspondent Daniel Cohen reports onthe [Full Story] | video
- Video Report: Secret Service Facilitated Trump Mar-a-Lago Raid
- On Tuesday’s “Wake Up America,” correspondent Leonardo Feldman [Full Story] | video
- Rudy Giuliani to Newsmax: Trump Raid ‘Worst Day’ in FBI’s History
- The FBI’s raid at former President Donald Trump’s Mar-a-Lago estate [Full Story] | video
- Poll: 70 Percent of Texas Teachers Considering Leaving Profession
- Dissatisfaction with teaching has hit a 40-year high in Texas, with [Full Story]
- Dems’ $800B Budget Reconciliation Bill Could Bring Big Medicare Changes
- The Democrats’ $800 billion reconciliation bill, known as the [Full Story]
- Pelosi: Taiwan Trip Was Worth It
- House Speaker Nancy Pelosi, D-Calif., is defending her trip to [Full Story]
- Serena Williams Says She’s Ready to Retire From Tennis
- Serena Williams says she is ready to step away from tennis after [Full Story]
- WW2 Bomb Revealed in Drought-Hit Waters of Italy’s River Po
- Heatwaves sweeping Europe this summer have brought not just record [Full Story]
- Finance
- Inflation Likely to Remain Elevated, Even as Gas Falls
- Americans may finally be catching a break from relentlessly surging prices – if just a slight one – even as inflation is expected to remain painfully high for months…. [Full Story]
- Michael Busler: Making Sense of the Mixed-Signal Economy
- Warren Buffett’s Big $47 Billion Bet on Oil
- Economy to Drive Power Use to Record High in ’22
- Walmart Explores Streaming With Disney, Comcast & Paramount
- More Finance
- Health
- The Amazing Health Benefits of Apple Cider Vinegar
- It’s said that Hippocrates, often called the “Father of Modern Medicine,” used apple cider vinegar to clean wounds and relieve coughs. … [Full Story]
- Ashton Kutcher Reveals Rare Disease Robbed Him of Sight and Hearing
- Try the Skin Pinch Test to See If You Need More Fluids
- Health Experts: Flu May Return With a Vengeance This Year
- Pandemic Fuels Sports Biking Boom in Cycling Nation China
MHProNews has pioneered in our profession several reporting elements that keep our regular and attentive readers as arguably the best informed in the manufactured housing industry. Among the items shared after ‘every business day’ (when markets are open) is our left-right headline recap summary. At a glance in two to three minutes, key ‘market moving’ news items are covered from left-of-center CNN Business and right-of-center Newsmax. “We Provide, You Decide.” © Additionally, MHProNews provides expert commentary and analysis on the issues that others can’t or won’t cover that help explain why manufactured housing has been underperforming during the Berkshire era while an affordable housing crisis and hundreds of thousands of homeless in America rages on. These are “Industry News, Tips, and Views Pros Can Use” © features and others made and kept us the runaway #1 in manufactured housing trade publisher for a dozen years and counting.
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.
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- 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.
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- 2022 …Berkshire Hathaway is the parent company to Clayton Homes, 21st Mortgage, Vanderbilt Mortgage and other factory-built housing industry suppliers.
· LCI Industries, Patrick, UFPI, and LP each are suppliers to the manufactured housing industry, among others.
· AMG, CG, and TAVFX have investments in manufactured housing related businesses. For insights from third-parties and clients about our publisher, click here.
Enjoy these ‘blast from the past’ comments. MHProNews. MHProNews – previously a.k.a. MHMSM.com – has celebrated our 11th year of publishing and have completed over a dozen years of serving the industry as the runaway most-read trade media.
- 2022 …Berkshire Hathaway is the parent company to Clayton Homes, 21st Mortgage, Vanderbilt Mortgage and other factory-built housing industry suppliers.
Sample Kudos over the years…
It is now 12+ 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 also 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.
