Sam Zell, Chairman of Equity LifeStyle Properties, Inc. (ELS) tells Fortune magazine the stock market is riding high but the underlying fundamentals are weak and the market will fall. “The current euphoria in the stock market will be adjusted, and I hope that’s all that happens,” he says. Noting that …
The National Association of Home Builders (NAHB) reports while housing starts fell 16.5 percent to a seasonably-adjusted annual rate (SAAR) of 853,000 in April, housing permit issuance rose 14.3 percent to a SAAR of 1.02 million units, the highest rate since June of 2008. Based on data from HUD and …
MHProNews has learned from nationalmortgagenews that while the number of foreclosures is down, there are still many REO houses that have not seen the light of day in several years. CoreLogic reports foreclosure activity was down in March from the previous March 2012 by 17 percent, but April numbers show …
Foreclosure Activity Down, but the Shadow May Linger Read More
CNNMoney reports as home prices increase and inventories shrink, appraisers are valuing homes at or above their values, according to chief economist Lawrence Yun of the National Association of Realtors. A Seattle-based real estate agent says none of the appraisals for the homes he has sold this year have come …
HousingWire informs MHProNews first-time homebuyers are facing different circumstances than their parents’ generation. Whereas their parents were saving for a down payment on their first home, Generation Y is burdened with an average $27,000 in college loans which may take ten years to pay off. Housing research site Doorsteps has …
MHProNews has learned from HousingWire mortgage applications dropped 7.3 percent from the previous week, according to the Mortgage Bankers Association (MBA), and the refinance index fell eight percent from the previous week. Although the seasonally adjusted purchase index dropped four percent from the prior week, it was ten percent above …
The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) composite reports builder confidence rose from 41 in April to 44 in May, as all three indexes that make up the composite gained. The HMI is based on builders’ perceptions of current sales, sales expectations, and traffic of …
MHProNews has learned from nasdaq that Zacks Investment Research has issued a strong buy on Universal Forest Products, Inc. (UFPI) stock–“Rank#1” in their rating system–due to its strong performance in Q1 2013. A component supplier to the manufactured housing industry, net income for UFPI grew 25.7 percent year-over-year and earnings …
The National Association of Home Builders reports 73.7 percent of the new and existing homes sold in the first quarter of 2013 were affordable to families earning the annual median income of $64,400, down slightly from 74.9 percent in Q4 2012. The data for the NAHB/Wells Fargo Housing Opportunity Index …
While many call for the Federal Housing Authority (FHA) to reduce its presence in the mortgage market, it would not be a wise move with purchase loans as low as they are. MHProNews has learned from nationalmortgagenews, even though much of the housing market news is encouraging, only 2.3 million …
The National Association of Home Builders (NAHB) informs MHProNews their 55+single-family Housing Market Index (HMI) rose 19 points in the first quarter of 2013 to 46, the largest first quarter increase since the measurement began in 2008. Based on builders’ sentiments about the condition of the market for the coming …
Bloomberg reports Sam Zell, chairman of Equity LifeStyle Properties, Inc. (ELS), says multifamily is the only sector of the real estate market that is a smart investment, and says his real estate holdings are down to 30 percent, a record low for him. Noting stocks are overvalued (the S&P is …
HousingWire tells MHProNews that the most recent CoreLogic home price index spiked 10.5 percent nationally, the 13th consecutive monthly increase in home prices nationally. “For the first time since March 2006, both the overall index and the index that excludes distressed sales are above 10 percent year over year,” said …
According to cbsnews, a report based on recent data from the Census Bureau American Community Survey states that the percentage of renters paying over 50 percent of their income increased from 22.8 percent to 26.4 percent. The foreclosure crisis, falling home prices, and tighter credit drove former homeowners into rentals …
The U. S. Department of Housing and Urban Development (HUD) has announced it will sell approximately 20,000 severely delinquent mortgage loans insured by the Federal Housing Administration (FHA) in an attempt to reduce the shadow inventory and hone in on areas showing high foreclosure activity. Through its Distressed Asset Stabilization …
The National Association of Home Builders (NAHB)/First American Improving Markets Index (IMI) reports the number of U. S. housing markets experiencing sustained growth fell from 273 in April to 258 in May, representing all 50 states and the District of Columbia. The IMI measurement is based on areas that show …
The Manufactured Housing Association for Regulatory Reform (MHARR) reports the U. S. Department of Housing and Urban Development (HUD) says production of manufactured housing dropped slightly March 2013 over March 2012 by 4.3 percent, from 4,671 homes last year to 4,467 this past March. As MHProNews reported May 8, 2012, …
Overall MH Production Advances, but March takes a dip Read More
For the fifth consecutive week, according to what nationalmortgagenews tells MHProNews, the average 30-year fixed-rate mortgage (FRM) has dropped to 3.35 percent, and is now closing in on the record low of 3.31 percent set the week of Nov. 21, 2012. The fixed-rate 15-year mortgage set a new record low …
According to nationalmortgagenews, a survey of economists by Bloomberg reports Federal Reserve Chairman Ben Bernanke is expected to reduce the quantitative easing that has been used to bolster the economy from $85 billion monthly to $50 billion by year’s end. That would be followed by a second cut to $30 …
Federal Reserve’s Bond-Buying May End by Next Year Read More
MHProNews has learned the National Association of Home Builders (NAHB) Chairman Rick Judson, a home builder in Charlotte, NC, has issued a statement on the nomination of Rep. Mel Watt (D-NC) to head the Federal Housing Finance Agency (FHFA). “We applaud the nomination of Representative Watt to this important position. …
