According to the National Association of Home Builders (NAHB), Hispanic homeownership rates are soaring, but African American home ownership rates – despite their record low unemployment rates – are near all time lows for data on record. On a general down day on the major market, but a more mixed one for manufactured home connected stocks, insights on home ownership rates by race will be our nightly featured report.
Headlines from CNN Business this evening.
· Disney heiress goes undercover
· Abigail Disney went to Disneyland to check on workers. She’s ‘livid’ about what she found
· Ikea is shutting down its only US factory
· Stocks mixed after hitting record highs on Monday
· The stock market is all about the Fed and FAANG. That’s a risky strategy
· How the Dow could pass 31,000 by the end of 2020
· Bitcoin falls 9%, tumbling below $10,000 after Libra hearing
· ‘Facebook is dangerous’: Big Tech’s rough day on Capitol Hill
· Oil prices sink on signs of easing Iran tensions
· Senator: It’s ‘delusional’ to trust Facebook with people’s money
· Nestle introduces a new kind of chocolate
· Lotus unveils a super powerful electric supercar for $2 million
· Amazon’s incredible, vanishing cardboard box
· Intense pizza competition is slowing Domino’s growth
· How pizza chains are using tech to win customers
· Pizza Hut is changing its pan pizzas
· Papa John’s is ready to stage a comeback
· Pizza Hut expands beer delivery service
· The hidden cost of America’s addiction to fast shipping
· OPINION Amazon exec reacts to criticism
· Why some workers are going on strike on Prime Day
· 9 challenges Amazon faces on its 25th birthday
· The high-risk, high-reward world of selling on Amazon
Headlines from Fox Business this evening.
· Amazon CEO Jeff Bezos wants to build vehicles for ‘next generation’ space companies
· Wall Street slips after Trump casts doubt on quick China trade deal
· US offshore oil production remains cut by 58%: Federal agency
· Powell warns of economic ‘uncertainties,’ paving way for July rate cut
· BIG TECH COMPANIES NEED TO BE BROKEN UP: STEVE HILTON
· “The Next Revolution” host Steve Hilton says big tech companies don’t have much competition.
· IKEA closing its only US factory, will move operations to Europe: report
· R. Kelly denied bail in sex trafficking case
· Disney heiress Abigail Disney says she was ‘livid’ about worker conditions at theme park after going undercover
· Why homeownership rates among Hispanics, African Americans differ substantially
· Former Idaho governor calls Mnuchin to investigate mining company with China ties
· A look at JFK Jr.’s net worth and will, 20 years after his death
· Varney: Can the ‘young radicals’ say anything nice about America?
· Rare Nike ‘Moon Shoe’ expected to snag more than $100G at Sotheby’s sneaker auction
· How to reach your retirement dreams
· Jeffrey Epstein finances revealed: Here’s how much he says he’s worth
· IRS releases new Form 1040 draft: What to know
· These 5 Democrats lead the 2020 presidential campaign fundraising race
· Best Amazon Prime Day deals on Apple products
· Prime Day is happening now, and Amazon said it’s offering more than a million deals during the 48-hour sales event.
· Amazon Prime plane starts to smoke after landing
· After landing at Thurgood Marshall Airport in Baltimore, smoke formed as a result of their landing gear.
· Amazon Prime Day strike organizer: We want management’s best
· The walkout will occur on Prime Day — one of the most important events of the year for the company
Just yesterday evening, we got a snapshot of the rental market.
As an upcoming report will reflect, conventional housing has bucked headwinds lately. With that brief backdrop, per Fox Business tonight, they noted that Hispanic homeownership rates is outpacing not only black Americans, but the pace of home buying among Hispanics has surpassed the pace of buying by whites too.
According to the National Association of Home Builders (NAHB) CEO Jerry Howard, “It’s really interesting…Hispanics really only make up about 18 percent of the total population, yet they’re 63 percent of all the new homebuyers since the recession ended in the last 10 years — it’s amazing.”
Howard said Hispanics tend to have more money, education, and they are often using cash to pay for homes.
“And what we are doing — we’ve been studying it a little bit and what we think we see is, like a lot of Caucasian America, Hispanic income has risen significantly since the recession. Also, we see an increase in education levels among Hispanics. And thirdly, for some of the newly arriving Hispanics, they are used to paying cash for big purchases — that helps them avoid the complexities of the mortgage system,” he explained.
“Hispanics seem to be reaping the benefits of the economy,” Howard said, “African American homeownership and housing, in general, seems to be still repressed.”
These points from the NAHB may shed light on an issue raised by Senator Kamala Harris, spotlighted in a recent report, linked below.
“They are not seeing the same increases in either education or income. Moreover, those African Americans who are homeowners are among the only ones who are not seeing an increase or as high an increase in their house values,” Howard said.
More insights on this topic – and opportunities for more manufactured home pros to reach out and serve more black or other Americans – can be found from the report linked below.
Manufactured Housing Industry Connected Closing Equities Tickers
Some of these firms invest in manufactured housing, or are otherwise connected, but may do other forms of investing or business activities too.
- NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services.
- NOTE: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).
- LCI Industries, Patrick, UFPI, and LP all supply manufactured housing.
- AMG, CG and TAVFX have investments in manufactured housing related businesses.
- Your link to an example of industry praise for our coverage, is found here and here. For the examples of our kudos linked above…plus well over 1,000 positive, public comments, we say – “Thank You for your vote of confidence.”
- For expert manufactured housing business development or other professional services, click here.
- Disclosure. MHProNews holds no positions in the stocks in this report.
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