While noting that stocks for companies with strong ties to the housing market are doing well–homebuilder KB Home, Lowe’s, Sherwin Williams, Whirlpool appliances—CNNMoney tells MHPronews the refinancing impetus may be over. Despite high home sales last month, if mortgage rates start to move higher, as the Federal Reserve suggests, the […]
Could the Housing Bubble Burst Again? Read More
MHProNews has learned from Benzinga that 2015’s best performing real estate investment trusts (REITs) are manufactured home community owners. Equity LifeStyle Properties, Inc. (ELS), Sun Communities, Inc.(SUI) and UMH Properties, Inc. (UMH) averaged a 9.4 percent growth rate this year through mid-March. Sun owns and operates 242 MH and RV
Manufactured Home Communities Top the REIT Charts Read More
Edward DeMarco, former Federal Housing Finance Agency (FHFA) chief, says Congress’ failure to pass government-sponsored enterprise (GSE) reform and the current mortgage finance system promotes housing debt instead of home ownership. As nationalmortgagenews tells MHProNews, DeMarco says the Obama administration is trying to boost credit availability, a move that echoes
Former FHFA Head DeMarco Slams Congress and Obama Administration Read More
The Commerce Department reports housing starts fell 17 percent in Feb. to their lowest level since Jan., 2014, to a seasonally adjusted annual rate (SAAR) of 897,000, although the future bodes well as permits for housing construction increased by three percent in Feb. “A weak first quarter is now a
Harsh Weather in February Hampers Housing Starts Read More
This graph received by MHProNews from Rob Ripperda of the Texas Manufactured Housing Association (TMHA) depicts sales of new and used manufactured homes in Texas for 2013 thru 2014. Numbers may change slightly for December as we are just past the 75-day time reporting deadline. Texas leads all other states
Texas Leads the Way in Manufactured Home Sales Read More
The National Association of Home Builders (NAHB) informs MHProNews that builder confidence for for newly-built, single-family homes dropped two points in March on the NAHB/Wells Fargo Housing Market Index (MHI), hitting the lowest point in eight months. NAHB Chief Economist David Crowe and Chairman Tom Woods, noting the index remains
Builders of Stick-Built Homes Indicate Slight Confidence Drop Read More
In a sign that the home-building industry is set for a busy spring season, John Burns Real Estate Consulting Inc. reports a survey of home builders indicates Feb. 2015 sales were up 12 percent from the same month last year. Gains were strongest in the West and Northwest, he says
Indicators of New Home Sales Rise for 2015 Read More
A bi-partisan group of U. S. senators have reintroduced the Preserving Access to Manufactured Housing Act so fewer manufactured home loans are classified as high cost. Senators Joe Manchin (D-W.VA), Joe Donnelly (D-IN), Pat Toomey (R-PA) and Tom Cotton (R-AR) filed the bill that will alter the thresholds under the
Preserving Access to Manufactured Housing Act Reintroduced in Senate Read More
Financial Institutions and Consumer Credit Subcommittee Chairman Rep. Randy Neugebauer (R-TX), evaluating the five-year history of the Consumer Financial Protection Bureau (CFPB), informs MHProNews the agency does not perform in a sustainable manner, lacks transparency and accountability, and is “susceptible to political influence.” He sees value in the agency but
Rep. Neugebauer Questions Overreach of CFPB without Oversight Read More
The Manufactured Housing Association for Regulatory Reform (MHARR) informs MHProNews that HUD Code homes producers manufactured 4,969 homes in January 2015, a 12.8 percent increase over the 4,405 homes produced in January 2014. Statistics compiled by the Department of Housing and Urban Development (HUD) reveals this marks the sixth year
HUD Code Production Continues to Climb Read More
Luci Ellis, the Australian Reserve Bank’s head of financial stability, addressing a Sydney University urban planning forum, says housing crashes do not increase affordability. “Housing prices are lower, yes, but capacity to pay is also lower,” she notes. Professor Kirk McClure of the University of Kansas, while noting the U.
Australia Taking Lessons from U. S. Housing Crisis Read More
Commenting on The Atlantic‘s article about manufactured housing (MH), the CFPB and MH financing, Amy Bliss of the Wisconsin Housing Alliance, compliments the piece for citing facts such as: > energy efficiency, > less waste in the building process, > availability to middle-incomers, while acknowledging the difficulty in finding financing
The Atlantic’s article on Manufactured Housing Evoked Comments Read More
Seen lower prices at the pump lately? Saudi Arabia has enough petroleum reserves and funds to sustain itself for eight years with Brent crude at $83/bbl. – and they are now undercutting the competition to gain market share – to counter production increases in Canada and the U. S., businessincanada
Saudi Arabia Responding to Competition from North American Fracking Read More
The National Association of Realtors (NAR) reports homeownership for the under 35 year-old crowd has fallen from 43 percent in 2005 to 36 percent today, according to nationaljournal. Even with very affordable interest rates, the Millennial generation in many cases is saddled with student debt, putting a damper on their
Millennials Pushing Homeownership to a New Normal Read More
A growing trend for the last decade has been an influx of foreign buyers from Asia, Australia and Europe purchasing homes in the U. S., which is actually helping the real estate market price recovery. A report by the National Association of Realtors says $22 billion of the $92 billion
International Real Estate Buyers Spur U. S. Housing Market Read More
Moody’s Investor Services, a leading credit-rating agency, tells MHProNews that while the Canadian government has an AAA rating due to its improving finances and its strong regulatory and institutional framework, rising home prices and high consumer debt may pose a risk to the economy. Steven Hess, Moody’s senior vice-president, says,
Canada’s Economy, Housing Strong Despite Rising Debt and Home Prices Read More
The New York Times ‘ recent article on the MH/CFPB issue states that manufactured homes have become a crucial source of affordable housing in the South, West and northern New England, according to the Consumer Financial Protection Bureau’s (CFPB) report last month, with prices of less than half the $94 per square
New York Times on CFPB – Manufactured Homes Crucial to Affordable Housing Read More
In September, marking the third time this year, total housing starts hit the far side of the million mark, advancing 6.3 percent to a seasonally annual adjusted rate (SAAR) of 1.017 million, according to numbers released by the Census Bureau and the U. S. Dept. of Housing and Urban Development
Overall Housing Starts hit the Million Mark again Read More
While the Great Recession took the wind out of the sails of Elkhart County, Indiana’s two largest industries – manufactured housing (MH) and recreational vehicle (RV) – RV manufacturers are now cheering their great recovery while the MH industry continues to slowly move forward, locally as well as nationally. The
Indiana RV Industry Recovering Well; MH Industry Recovering Steadily Read More
While refinance lending in rural and small town communities fell by 23 percent in 2013 compared to 2012, purchase lending in the same areas rose 2.3 percent for the similar period, after hitting a ten-year low in 2011, according to what daily.yonder tells MHProNews. Just as rising interest rates and tighter
Rural Home Purchase Loans Still over 50 Percent Below Pre-Recession Read More
