Economy

MHI’s Dick Jennison, CFPB’s Richard Cordray on Manufactured Home Loan Regulations

While governmental officials, industry leaders and financial executives agree that manufactured housing (MH) is a solution to the problem of affordable housing in the nation—Julian Castro, head of the U. S. Department of Housing and Urban Affairs (HUD) calls MH a “vital solution for folks of modest means”–regulations imposed by …

MHI’s Dick Jennison, CFPB’s Richard Cordray on Manufactured Home Loan Regulations Read More

Builder Confidence for Single-family Homes Remains at 58

Calling it “slow but steady progress,” the National Association of Home Builders (NAHB) reports to MHProNews that the Housing Market Index for March was unchanged at 58, after rising to 64 last October, which was a ten-year high. January saw sales of existing homes hit the second highest rate of …

Builder Confidence for Single-family Homes Remains at 58 Read More

Sunday Morning Recap-Manufactured Housing Industry News March 6, 2016-March 13, 2016

What’s New in public focused Manufactured HomeLivingNews.com Rancho El Mirage, new 55+ Manufactured Home Community Opening near Yuma, AZ What’s New in Manufactured Housing Industry Professional News New manufactured home community planned Down Under. Legacy Homes assumes building abandoned byRV/MH Hall home builder. Home show features MH. Ordinance to site …

Sunday Morning Recap-Manufactured Housing Industry News March 6, 2016-March 13, 2016 Read More

Inventory of Starter Homes Continues Diminished

Year-over-year as of Jan., 2016, the number of homes priced below $100,000 fell by 8.6 percent, as the less expensive homes got snapped up quickly, while the homes priced over $1 million grew by 15 percent, according to the National Association of Home Builders (NAHB), as mpamag informs MHProNews. The …

Inventory of Starter Homes Continues Diminished Read More

Longer Permit Processing Times Adding to Costs

According to constructiondive, developers are saying that building permit processing time has increased from four months in 2011 to seven months in 2015, reports the National Association of Home Builders and The Wall Street Journal (wsj). In more active markets, like California and Florida, the American Institute of Architects (AIA) …

Longer Permit Processing Times Adding to Costs Read More

Fannie Mae Survey Indicates Consumer Confidence Rising on Housing Market

According to the National Housing Survey questions that Fannie Mae asks consumers each month, the GSEs Home Purchase Sentiment Index rose to 1.2 percent to 82.7 in Feb. over Jan., as nationalmortgagenews informs MHProNews. Consumers who said their income was noticeably greater than 12 months ago increased three percentage points …

Fannie Mae Survey Indicates Consumer Confidence Rising on Housing Market Read More

Sunday Morning Recap-Manufactured Housing Industry News Feb. 28-March 6, 2016

What’s New in public focused Manufactured HomeLivingNews.com Rancho El Mirage, new 55+ Manufactured Home Community Opening near Yuma, AZ Tired of renting? Get the Scoop on Manufactured Homes What’s New in Manufactured Housing Industry Professional News American Dream lives. HUD Code production starts year strong. Patrick, Drew Industries acquire ancillary …

Sunday Morning Recap-Manufactured Housing Industry News Feb. 28-March 6, 2016 Read More

Minorities, Millennials Still Believe in American Dream

The semi-annual Housing Confidence Index poll survey conducted by Zillow reveals that 65 percent of Millennials (18-34) and almost 70 percent of Hispanics agree with the connection between homeownership and the American Dream. Millennials in Los Angeles-Long Beach-Anaheim agreed the most, 86.9 percent, while that same demographic in Philadelphia agreed …

Minorities, Millennials Still Believe in American Dream Read More

DNC Chair Switches Teams over Payday Lending

Democratic National Committee (DNC) Chair Rep. Debbie Wasserman Schultz has teamed up with conservative lawmakers opposing Consumer Financial Protection Bureau (CFPB) regulations about predatory payday lending, feeding into a rift in the party already fractured by a bitter presidential primary. The agency is trying to disrupt the cycle of debt …

DNC Chair Switches Teams over Payday Lending Read More

TRID Rule Continues to Hamper Mortgage Lending Industry

According to a survey by the American Bankers Association (ABA), the Truth-in-Lending/Real Estate Settlement Procedures Act integrated disclosures (TRID) that took effect Oct. 3, 2015, continues to leave a trail of vendor software problems, longer processing times, and closing delays that average eight days, although some have taken as long …

TRID Rule Continues to Hamper Mortgage Lending Industry Read More

Astounding Growth for Single-family Home Rental Company

American Homes 4 Rent, the “largest publicly traded single-family rental company,” has become larger as the result of its merger with American Residential Properties (ARP), a deal valued at $1.3 billion, and now owns 47,000 homes in 22 states, according to housingwire. Already on a fast track, from 2012 to …

Astounding Growth for Single-family Home Rental Company Read More

Home Prices Rose 6.9 Percent Year-over-Year

Compared to a year ago January, CoreLogic tells MHProNews home prices rose 6.9 percent as reported by nationalmortgagenews. January 2015 home prices rose 1.3 percent over the previous month. Both percentages account for distressed sales, which include short sales and real estate owned transactions. Washington and Colorado had the highest …

Home Prices Rose 6.9 Percent Year-over-Year Read More

Pending Home Sales Drop in January

Attributing the drop to tight housing inventories, which is limiting choices and increasing prices, the National Association of Realtors (NAR) says its pending home sales index fell 2.5 percent in Jan. to 106.0, the lowest level since Jan. 2014, as yahoofinance tells MHProNews. In percentages by region, only the South …

Pending Home Sales Drop in January Read More

Bills would Begin to Address the Shortage of Affordable Housing

Oregon Democratic legislators are trying to hurry through four bills dealing with affordable housing during the waning days of the short session of the legislature, according to an editorial in registerguard. While opponents of the bills may prevail, everyone agrees there is a definite shortage of affordable housing stock in …

Bills would Begin to Address the Shortage of Affordable Housing Read More

Sunday Morning Recap-Manufactured Housing Industry News Feb. 21-Feb. 28, 2016

What’s New in public focused Manufactured HomeLivingNews.com Discovering a 9 out of 10 “Mobile Home Park” Lifestyle What’s New in Manufactured Housing Industry Professional News MHC development on Pacific coast may wash out, while Hillcrest MHC in New Hampshire gets nod for expansion. UK modular plant to hire 400-500, modulars …

Sunday Morning Recap-Manufactured Housing Industry News Feb. 21-Feb. 28, 2016 Read More

Housing Market Recovery: Making Haste Slowly

A 32.1 percent drop in new home sales in the West led total new home sales across the nation to drop 9.2 percent last month to a seasonally adjusted annual rate (SAAR) of 494,000, less than the 501,000 in Jan. 2015, reports oregonlive. “With inventory still very tight, prices will …

Housing Market Recovery: Making Haste Slowly Read More

House Committee Seeks to Repeal Volcker Rule and CFPB

According to atr.org, Republicans on the House Financial Services Committee have set their sights for 2016 on repealing the Volcker Rule and the perpetually funded Consumer Financial Protection Bureau (CFPB). The Volcker Rule is named after Paul Volcker, the former Federal Reserve Chairman who was appointed by President Obama to …

House Committee Seeks to Repeal Volcker Rule and CFPB Read More

Demographics of New York not Reflected in Home Purchase Loans

According to an affordable housing advocacy group, nationalmortgagenews informs MHProNews, low-to moderate-income consumers and minorities face a rocky road when it comes to buying a home in New York. The Association for Neighborhood & Housing Development (ANHD) said these groups have a hard time finding credit to purchase a home, …

Demographics of New York not Reflected in Home Purchase Loans Read More

Stabilizing Home Prices could make Home-buying More Feasible for First-time Buyers

The S&P/Case-Shiller index of home prices in 20 U. S. cities rose 5.7 percent from Dec. 2014, while nationally prices increased 5.4 percent year-over-year, according to bloomberg. While gains in payrolls and low jobless claims may be making home buying more attractive, continuing low-interest rates and more affordable properties for …

Stabilizing Home Prices could make Home-buying More Feasible for First-time Buyers Read More

Chinese Buying U. S. Firms at Record Rate. Will housing Fall-ow?

MHProNews has learned from businessinsider that Chinese companies are buying foreign businesses at a record rate as their own economy slows to a pace not seen in 25 years, and investors are feeding on buying outside the country. The Chinese government has to approve these deals, plus they have to …

Chinese Buying U. S. Firms at Record Rate. Will housing Fall-ow? Read More

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