PRWeb reports GDH Housing, LLC in Covington, Louisiana will construct, deliver, and assemble a modular 77 room hotel, comprised of 48 modules, to Williston, North Dakota to ease the rapidly growing need for quality accommodations in support of the oil exploration effort. Through an agreement with modular home builder Ritz-Craft […]
77-room Hotel Rising for Oilfield Accommodations Read More
Marcus & Millichap’s Michael Glass says for commercial real estate investors seeking to diversify their portfolio, the stabilizing housing market and resurgence in financing can make manufactured housing communities a good investment. In particular he notes age-restricted MHCs in prime markets are not increasing in number, leading to competition among
Commercial Real Estate Gamble: Bet on MHCs Read More
Financial columnist Craig Steiner sounded off on Townhall that conventional housing has far from recovered. He says recent headlines are an effort at media spin, just before the election, to make it sound like housing is on the rebound. Its not. The chart shows the reality of home prices. Steiner
Housing’s Lost Decade Read More
A mixed picture of the U.S. economy emerged, suggesting the economy is not growing fast enough to hasten much job growth, according to The Republic. The Commerce Department said orders for long-lasting goods fell by 13.2 percent in August, the biggest drop in over three years, largely influenced by a
U.S. Economy Improving in Fits and Starts Read More
According to data released by the federal government, CNNMoney reports consumers spent an average of 3.3 percent more on household expenses in 2011 than in 2010. The average for annual spending increased to $49,705, the first yearly rise since 2008. It must be noted that inflation, however, rose 3.2 percent,
Consumer Spending Rose in 2011 Read More
As HousingWire reports, the pending home sales index rose 2.7 percent from 115.8 in July to 118.9 in August even with available inventory levels falling, according to the California Association of Realtors (CAR). However, the pending sales index in Aug. 2011 was 121.4. The decline, says CAR President LeFrancis Arnold,
Pending Home Sales Rise in California Read More
CNNMoney reports consumer confidence rose in Sept. to 70.3, well above the 63 reading many economists expected, and higher than the 61.3 August number. The Conference Board, a business research firm, says consumers who expect more jobs in the days ahead rose from 15.8 to 18.5, and those saying jobs
Consumer Confidence: Moving Up Read More
HousingWire reports an increase in home prices June to July 2012 according to the Standard & Poor Case-Shiller 10-city and 20-city indexes. The 10-city composite reveals a 1.5 percent rise. The 20-city composite grew 1.6 percent, registering the third consecutive month of growth in those cities. Dallas and Washington, D.C.
Testifying before the office of the U. S. Trade Representative in Washington, D.C. the National Association of Home Builders’ (NAHB) CEO Jerry Howard urged the federal government to avoid involving the U.S.-Canada softwood lumber accord in the Trans-Pacific Partnership Trade Agreement (TPP) talks. “Reopening the U.S.-Canada softwood lumber agreement would
Trade Agreement could Harm Housing Recovery Read More
HousingWire tells MHProNews the shadow inventory dropped by 1.2 million troubled mortgages in the first six months of 2012. Although those numbers could double by the end of the year, four million underwater loans would remain, down from a high of six million in 2010. According to JPMorgan Chase, of
Underwater Loans Drop Read More
HousingWire reports Republican presidential hopeful Mitt Romney, in his housing plan, promises to shortcut Pres. Obama’s foreclosure prevention programs with private deals between banks and borrowers by providing alternatives to foreclosure, like short sales, deed-in-lieu-of-foreclosure, and shared appreciation. He has slammed the qualified mortgage rule and vowed to overhaul the
Romney Hammers Obama’s Housing Recovery Read More
CNNMoney reports foreclosure filings increased one percent in August over July as lenders slogged through a backlog of delinquencies and defaults. Scheduled auctions, default notices and bank repossessions were filed on 193,508 properties in August. Despite the increase, filings fell 15 percent from a year earlier. Foreclosures are rising in
Foreclosures Nudge up August over July Read More
The news-times says data from the Census Bureau shows 36.5 million people, 12 percent of the population, moved to a new home this year, up from a record low of 11.6 percent in 2011. The most mobile group, young men 25-29, are moving out of their parents’ home, either returning
Theolympian tells MHProNews Freddie Mac says the average on a 30-year fixed rate mortgage (FRM) fell to 3.49 percent from 3.55 percent last week, matching its lowest rate since long-term mortgages began in the 1950’s. The 15-year FRM dropped to its lowest rate ever, 2.77 percent, from 2.85 percent last
Historic Lows for Mortgages Read More
The National Association of Realtors (NAR) reports in the Christian Science Monitor its index of existing home sales contracts increased 2.4% in July of this year to 101.7, higher than June’s reading of 99.3. It is the highest number since April 2010 when the government’s home-buying tax credit ended. Even
Home Sales Slowly Climbing Read More
The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) reports builder confidence for new single-family homes increased for the fifth consecutive month to 40, bringing the index to the highest level since June 2006. (Any number above 50 indicates builders see conditions as good rather than poor.)
Housing Starts Increase Nationwide Read More
Marking the fastest sales pace since Dec. 2007, HousingWire reports home sales in Chicago’s seven county region in August picked up, with properties spending only 139 days on the for sale market as opposed to 165 days in Aug. 2011, according to REMAX. August 2012 home sales rose nearly 27
Chicago Housing Market Ticks Up Read More
nationalmortgagenews says, according to a new government report, servicers that work on delinquent FHA (Federal Housing Administration)-insured mortgages are shoring up the agency’s losses on insurance claims because they are becoming more adept at dealing with short sales. The FHA says its servicers completed 27,150 short sales for the first
Long Strides in Short Sales Read More
HousingWire reports the Obama administration’s August Housing Scorecard says the number of underwater borrowers fell from 12.1 million if the fourth quarter of last year to 10.8 million at the end of Q2 2012, a drop of 11 percent, according to data from CoreLogic. The most recent numbers show the
Administration’s Housing Scorecard Shows Modest Gains Read More
nationalmortgagenews (NMN) tells MHProNews the Mortgage Bankers Association (MBA) says mortgage applications jumped 11 percent for the week ending Sept. 7 after several weeks of decline. Noting the holiday may have given potential borrowers an extra day to apply online, the trade group says refinancings accounted for 80 percent of
