Economy

Institutional Investors Form Organization for Single-family Rental Homes

By / / Business, Company News, Economy, home buyers, Manufactured and Modular Housing News, Trends

Large private-equity firms that own some 200,000 single-family rental homes across the country have formed the National Rental Home Council (NRHC) to represent to the public the benefits of professionally-managed rental homes. Rental demand in communities across the country is strong,” says Gary DeLapp, President of Invitation Homes. “Our members […]

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MHI Applauds Senate Banking Committee for Housing Finance Legislation

By / / Advocacy, Economy, Finance, home buyers, Legal, Legislation, Manufactured and Modular Housing News, Manufactured Homes

Noting the proposed bipartisan legislation introduced by Senators Tim Johnson (D-SD) and Mike Crapo (R-ID) that recognizes the importance of manufactured housing, Nathan Smith, Manufactured Housing Institute (MHI) chairman and partner at SSK Communities, says, “Gaining access to the secondary market for our home loans has long been a top

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New Home Sales fall in February

By / / Business, Economy, home buyers, Manufactured and Modular Housing News, Trends

The National Association of Home Builders (NAHB) reports sales of newly-built, single-family homes fell 3.3 percent to a seasonally annual adjusted rate (SAAR) of 440,000 units in February, 2014, based on data from the Census Bureau and the Department of Housing and Urban Development (HUD). “We still expect 2014 will

New Home Sales fall in February Read More

Consumer Confidence up for March

By / / Business, Economy, Manufactured and Modular Housing News, Trends

According to The Wall Street Journal, private research group Conference Board reported its index of consumer confidence, which measures how consumers feel abut the future of the economy, rose to 82.3 percent in March from 78.3 percent in February, bettering the 78.6 percent economists expected for this month. Although the

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Reform Legislation may Limit Access to Mortgage Market

By / / Advocacy, Economy, home buyers, Legal, Legislation, Manufactured and Modular Housing News

A bill by Senate Banking Committee leaders to overhaul the housing finance system may reduce access to the mortgage market for minorities and those with lesser means, according to a handful of housing advocacy groups. In a joint press release, the organizations allege the new legislation would make mortgages more

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NAR Survey: Home Sales Down, Home Prices Up, Student Debt a Hindrance

By / / Business, Economy, home buyers, Manufactured and Modular Housing News, Trends

The National Association of Realtors (NAR) reports total existing home sales—single-family, townhomes, condos and co-ops–fell 0.4 percent in Feb. to a seasonally annual adjusted rate (SAAR) of 4.60 million, down from 4.62 million in January. Lawrence Yun, NAR Chief Economist, suggests the severe winter weather likely contributed to the drop.

NAR Survey: Home Sales Down, Home Prices Up, Student Debt a Hindrance Read More

New Home Builder Confidence Struggles

By / / Business, Economy, home buyers, Manufactured and Modular Housing News, Trends

The National Association of Home Builders (NAHB)/Wells Fargo index of builder confidence rose to 47 in March from a reading of 46 in February. The gauge measures builders estimates of how the housing market is performing as it reflects the rising demand for new homes. Even as the traditional spring

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Delinquencies Fall, Foreclosures Rise

By / / Business, Economy, Finance, home buyers, Manufactured and Modular Housing News, Trends

Analysts at Barclays report more homeowners are staying current on their mortgages, thereby reducing the rate of delinquent loans, as housingwire.com informs MHProNews.com. The March Mortgage Credit Tracker says, however, the rate of foreclosure is rising, as is the foreclosure-to-REO (real estate-owned) hopper, bringing foreclosures back to the rate of

Delinquencies Fall, Foreclosures Rise Read More

National Association of Home Builders Welcomes Housing Finance Reform

By / / Business, Economy, home buyers, Manufactured and Modular Housing News, People

The National Association of Home Builders (NAHB) chairman Kevin Kelly, a homebuilder from Wilmington, Delaware issued a statement lauding the Senate Banking Committee’s announcement that they had reached an agreement on a housing finance reform proposal, as MHProNews.com has learned. He said: “NAHB commends Sens. Johnson and Crapo for reaching

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Many Seniors in Manufactured Homes Receive Food Stamps

By / / Economy, Manufactured and Modular Housing News, Manufactured Homes, People

In Rehoboth Beach, Delaware, where the median sales price has grown to $647,000 for a single-family home, the growth of food stamp usage has risen dramatically 324 percent, from 260 people in 2003 to 1,104 in 2013, while the population has only increased 23 percent, reports delawareonline.com. While beach vacationers

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Fracking Oils the Mortgage Industry in North Dakota

By / / Business, Economy, Finance, home buyers, Manufactured and Modular Housing News

In a survey that includes 41 million single-family mortgages across the country, accounting for 88 percent of all mortgages serviced, the Mortgage Bankers Association (MBA) reports oil boom state North Dakota has the lowest foreclosure starts rate in the country for Q4 2013 at only 20 basis points. The state

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Home Prices Continue Moving on Up

By / / Business, Economy, home buyers, Manufactured and Modular Housing News, Trends

According to CoreLogic, U. S. home prices increased in January by the strongest margin in seven years, up 12 percent from the previous Jan., marking the 23rd consecutive month of yearly increases, worldpropertychannel.com reports. Said Dr. Mark Fleming, chief economist for CoreLogic, “The last time January month-over-month and year-over-year price

Home Prices Continue Moving on Up Read More

Housing Market Not out of the Woods Yet

By / / Business, Economy, home buyers, Manufactured and Modular Housing News, Trends

While the housing market helped lift the U. S. economy out of past recessions in 1981, 1990 and 2001, according to fxempire.com, it is not happening this time. Historically, residential investment has averaged five percent of gross domestic product (GDP), but it has only returned to three percent since the

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Manufactured Home Production Continues Upward Trend

By / / Business, Economy, home buyers, Manufactured and Modular Housing News, Manufactured Homes

The Manufactured Housing Association for Regulatory Reform (MHARR) reports figures from the Department of Housing and Urban Development (HUD) indicate shipment of HUD Code homes hit 4,405 in January, a 3.8 percent increase over the 4,242 homes shipped in Jan., 2013. As MHProNews.com has learned, the top ten shipment states

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Young Adults may Finally be Moving into Own Homes

By / / Economy, home buyers, Manufactured and Modular Housing News, Trends

There is one number, often overlooked, that affects the growth of the housing sector as much as any other—the percent of the 25-to-34-year-olds who are working. Many of these young adults continue to live at home, which holds down household formation. As their employment numbers grow, they are more likely

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Perception of Market by Multifamily Builders Falls

By / / Business, Economy, Manufactured and Modular Housing News, Trends

The National Association of Home Builders (NAHB) reports the Multifamily Production Index (MPI) fell slightly in the fourth quarter 2013 to 50, which means half of the builders saw the market as good and the other half as poor. The survey measures builders’ perceptions of three aspects of the market:

Perception of Market by Multifamily Builders Falls Read More

New Home Sales Rise in January

By / / Business, Economy, home buyers, Manufactured and Modular Housing News

According to statistics released by the Department of Housing and Urban Development (HUD) and the Census Bureau, the National Association of Home Builders (NAHB) reports sales of newly-built single-family homes rose 9.6 percent in January to a seasonally-adjusted annual rate (SAAR) of 468,000 units, marking the strongest pace since July

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Existing Home Sales Drop in January

By / / Business, Economy, home buyers, Manufactured and Modular Housing News

The National Association of Realtors (NAR) reported existing home sales fell to the lowest level in January since July 2012 as low inventory sent home prices higher. Total existing home sales fell 5.1 percent to a seasonally-adjusted annual rate (SAAR) of 4.62 million last month from 4.87 million in December,

Existing Home Sales Drop in January Read More

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