It has only been some 2 weeks since an exclusive look by longtime Canadian manufactured home community trade advocate Al Kemp on the topic of rent control was published on MHProNews. There has been significant political, economic, immigration, and a lack of affordable housing drama on both sides of the Canadian-U.S. border. This report utilizes the annual letter for Canadian Killam Apartments REIT, which includes some commercial properties and land-lease manufactured home communities (MHCs) too. A REIT is an abbreviation for Real Estate Investment Trust (REIT). Investopedia says: “A real estate investment trust (REIT) is a company that owns, operates, or finances income-generating real estate. Modeled after mutual funds, REITs pool the capital of numerous investors. This makes it possible for individual investors to earn dividends from real estate investments—without having to buy, manage, or finance any properties themselves.” Per their data, Killam is 89 percent apartments, 6 percent manufactured home communities (MHCs), and 5 percent other commercial real estate properties. Given insights from the apartment sector to compare and contrast with information about housing in general and manufactured home communities too, this Killiam annual letter from Philip Fraser President and CEO of Killiam, along with their full annual report as a download are potentially useful to a range of professionals in a range of compare and contrast reflections and are hereby provided below.
Killam claims the following “core values.” They could be described as mix of ‘good old fashioned’ business principles that have been proven for decades in real estate, along with some modern terminology mixed in.
Build Community | Creative Solutions | Do the Right | Thing Curb Appeal | Strong Customer Relationships
Part I will include the Killam annual letter for 2022.
Part I will also include the full Killam annual report from their investor relations pitch deck. Note that in Canada, shareholders are referred to as unitholders.
In Part II there will be additional information with more MHProNews analysis and commentary in brief.
Part III is our Daily Business News on MHProNews graphical snapshots of the macro-markets in manufactured housing connected equities, along with our signature and insightful left (CNN) right (Newsmax) headlines recap.
Part I Letter to Unitholders from Philip Fraser President and CEO, Killam Apartments REIT.
I am pleased to report Killam’s financial and operating highlights for 2022. This year, Killam celebrated its 20th anniversary on February 21, 2022. During the year, we made progress on all our strategic targets, including growing our portfolio through new acquisitions and completing three developments in Ontario. We achieved 4.7% same property NOI growth and earned $1.11 per unit in funds from operations (FFO), a 3.7% increase from $1.07 in 2021. We recorded positive results across all business segments, including 6.0% same property NOI growth in our MHC portfolio and 7.9% same property NOI growth at our commercial properties. Our success would not be possible without our talented team operating across the country.
Notwithstanding our many achievements, Killam’s unit price declined in 2022 and unitholders’ total return was (28%). Killam’s performance was aligned with most Canadian real estate companies and real estate investment trusts (REITs), as the Canadian REIT Index delivered a (17%) return in 2022, due primarily to interest rate increases. This performance followed the REIT sector’s second-best year in 2021, a year in which Killam achieved a 41% total return for unitholders.
Adapting to an evolving economic landscape
Multi-family market fundamentals in Canada are the strongest we have seen in 20 years. Killam achieved its highest occupancy level in its operating history, ending the year at 98.3% occupancy, and recording the lowest tenant turnover rate at 22%, down from our pre-COVID turnover rate of approximately 33%.
In 2022, Canada welcomed 493,000 new immigrants, up from 226,000 in 2021 and 284,000 in 2020. Over the last three years, Canada’s population has increased by over 1.5 million after accounting for international students and seasonal workers. According to Statistics Canada, Halifax was the second-fastest growing region in the country last year at 4.4%, just behind Moncton’s impressive 5.4% population growth. Not only are Atlantic Canadian cities growing at record rates, but age cohorts are trending younger, as people move to the region from within Canada and internationally. Killam is experiencing unprecedented demand for apartments in all of its Canadian markets as a result of the increasing population.
Our manufactured housing business also reported strong performance during 2022. Killam’s seasonal resorts outperformed previous years as Canadians chose local and affordable summer vacation destinations, benefitting Killam’s communities throughout Ontario and New Brunswick.
Increasing the supply of housing and maintaining affordability for Canadians
While we recognize the strong industry fundamentals, we must acknowledge the looming housing supply and affordability crisis in Canada. As many suggest, it is imperative that we build “more housing of all kinds” to reduce the current supply and demand imbalance. Affordability is the other element that must be discussed in conjunction with the housing supply crisis; however, with the multi-family rental market at an unhealthy 2% national vacancy rate, rent control is not the solution. The majority of existing rental units in Canada are under rent control, with the three most populous provinces – Ontario, Quebec and BC – accounting for 75% of the Canadian rental market. Including Manitoba and PEI, almost 80% of the country is under rent control. Over the last three years, these provinces have averaged an allowable 1.4% rent increase per year for tenants remaining in the same apartment unit. This means the rent for tenants who have remained in their units has increased less than the cost of inflation. Conversely, for those looking to move to a new or existing building, rents are substantially higher due to the supply and demand imbalance and the rising cost of construction.
With property taxes increases, government-owned water utilities and regulated electric utilities continuing to rise at the rate of inflation, and HST applicable to multi-family housing, all expenses associated with all three levels of government now account for more than 62% of Killam’s operating costs and negatively impact housing affordability in the country.
Killam’s average rent per unit at the end of 2022 was $1,289 per month for our 19,500 units. We have 52% of our units with monthly rents under $1,200. Moreover, 64% of our portfolio meets the Canadian Mortgage and Housing Corporation (CMHC) definition of affordability, with monthly rents less than 30% of the respective markets’ median household income.
This includes 850 deeply subsidized apartment units that we provide through partnerships with non-profit organizations. In addition, we have recently increased our commitment to provide affordable units by utilizing the CMHC MLI select program, adding an additional 310 units as long-term affordable units.
The development of new housing is a key factor in solving the housing crisis and remains a fundamental component of Killam’s growth strategy. Killam’s commitment to new developments distinguishes us from our peers and allows us to grow our portfolio in strong markets, while adding new energy efficiencies and smart building technology. In 2022, we completed three developments in the Ontario region: The Kay, a 128-unit property in Mississauga; Latitude, a 208-unit building in Ottawa; and Luma, a 168-unit building also in Ottawa. These developments are exceptional additions to Killam’s portfolio and will contribute positively to our earnings growth.
We finished the year with three developments under construction. The Governor, in Halifax, and Civic 66, in Kitchener, are both expected to be completed in mid-2023. The Carrick, in Waterloo, is expected to be completed in late 2024. Killam is also working on planning entitlements for a number of infill development opportunities associated with properties purchased specifically for that purpose, as well as on existing rental properties where additional density can be achieved through the planning process. We are currently working on long-term planning for large redevelopment sites in Halifax and Waterloo to build between 3,000 and 4,000 units. We are also designing and working on near-term planning approval for several 100 to 200-unit developments in those same markets. This pipeline will provide many years of internal growth for Killam.
Inclusive and sustainable growth
At Killam, our Environmental, Social, and Governance (ESG) priorities are embedded in our business strategy and reflect our commitment to a more inclusive and sustainable future.
During the year, we continued to invest in Killam’s greatest asset – our employees. We prioritize employee retention and talent development, invest in employee mental health and wellness support, and focus on creating a diverse and inclusive workplace where our colleagues can thrive. Our core values emphasize the importance of sustainable practices, corporate social responsibility, and the overall well-being of employees and residents. We are committed to these values in all aspects of our business.
Our energy efficiency investments totaled $8.5 million in 2022. This includes 12 additional solar photovoltaic installations, 114 Level II electric vehicle charging stations, boiler and heat pump replacements, electricity and water conservation projects. We are proud this investment also includes geothermal heating and cooling installations at two of our developments, The Kay and Civic 66. These advanced green initiatives will reduce Killam’s environmental impact and mitigate our exposure to volatile energy costs.
In 2022, we continued to strengthen our public disclosure reporting under the Task Force on Climate-Related Financial Disclosure (TCFD) framework. We are performing a holistic assessment to identify Killam’s exposure to climate-related risks and opportunities, and we continue on our journey to be TCFD-aligned by 2024. This analysis is essential for Killam to transition to a net-zero economy in the future, and will drive targeted action and decision-making.
Our ESG accomplishments for the year are highlighted on page 21 of this report.
Killam forward
Killam is in a solid financial position as a result of the strength of our stable income-producing portfolio and our team of experienced professionals.
We are committed to being an ESG leader, nurturing a culture of diversity and inclusion, developing quality purpose-built rentals, and investing in initiatives to improve operating efficiency. As we move forward, we remain committed to delivering clean, safe, quality housing to tenants who are proud to call our properties home. I want to thank our Killam team across the country for their hard work, our residents for choosing Killam for their home, and our unitholders for their continued support.
We recognize that Canadians will rely on us more than ever, and Killam will be there for our residents and communities as reputable and responsible corporate citizens.
Killam’s annual unitholders’ meeting will be held on May 5, 2023, at 9:00 AM Atlantic Time at the Courtyard by Marriott, 5120 Salter Street, Halifax, Nova Scotia.
Thank you for your support and investment in Killam.
Yours truly,
Philip Fraser
President & CEO
The entire investor relations presentation is found at this link here.
Part II – Additional Information with More MHProNews Analysis and Commentary in Brief
On both sides of the U.S.-Canadian border, it is fair to say that there is a struggle between those on the political left and those more conservative types on the right. In some respects, Canada led the U.S. in adopted certain concepts only later embraced by south of the border, such as socialized medicine. Inflation is a vexing issue in much of the world, and no less so in Canada or the U.S. As the above made clear, a lack of affordable housing is a challenge too.
Here in the U.S., there is a growing push-back against so-called ESG standards. ESG, of course, means: “Environmental, Social and Governance.”
That pushback over ESG exists in Canada too.
To illustrate that point, MHProNews asked Bing’s AI Chat function this question:
> “Is there growing pushback in Canada over ESG standards in investing?”
On the other hand, a Harvard Law School Forum on Corporate Governance article states that eight leading Canadian pension plan investment managers have joined forces to issue a joint statement calling on companies and investors to provide “consistent and complete” ESG information in order to “strengthen investment decision-making and better assess and manage their collective ESG risk exposures” 2.
In addition, McMillan LLP reports that companies and financial institutions had to move quickly to adapt to the fast-growing focus on sustainable finance in capital markets 3. The report also mentions that this growing private sector momentum was complemented by new actions from governments, regulators, and non-governmental organizations that are mandating new sustainability focused requirements 3.
Overall, it seems that while there is some pushback against ESG standards in investing in Canada, there is also a growing interest in sustainable finance among investors and companies alike.
Learn more:
Manufactured housing is 6 percent of their portfolio, but in the annual letter drew only this one mention in the Fraser letter. “Our manufactured housing business also reported strong performance during 2022.”
That said, the context is nevertheless of interest. Recapping to save readers having to scroll up, Fraser said the following.
In 2022, Canada welcomed 493,000 new immigrants, up from 226,000 in 2021 and 284,000 in 2020. Over the last three years, Canada’s population has increased by over 1.5 million after accounting for international students and seasonal workers. According to Statistics Canada, Halifax was the second-fastest growing region in the country last year at 4.4%, just behind Moncton’s impressive 5.4% population growth. Not only are Atlantic Canadian cities growing at record rates, but age cohorts are trending younger, as people move to the region from within Canada and internationally. Killam is experiencing unprecedented demand for apartments in all of its Canadian markets as a result of the increasing population.
Our manufactured housing business also reported strong performance during 2022. …”
Note that rent control, as MHProNews previously reported, is perhaps a bigger issue in Canada than it is in the U.S. in this respect. Rent control is more widespread north of the border.
It can be useful and eye opening to ask Bing AI Chat some rhetorical questions.
> “Is rent control a big issue in Canada and the U.S.? If so, why??”
In Canada, rent control is a provincial matter, and each province has its own rules. A compilation of numerous academic research studies about rental housing and rent controls from across Canada, the US, and abroad can be found on the website of the Urban Development Institute 2.
It is difficult to say whether rent control is a big issue in Canada and the US because it depends on various factors such as location, housing market conditions, and political climate. However, according to an article by Bungalow, rent control laws are one way cities regulate the housing market 3.
Learn more:
The politically correct phrasing by Bing’s AI is but one thing to keep in mind, as that technology is obviously subject to bias by programmers in its algorithms.
That question posed to Bing’s AI Chat function by MHProNews last May was followed up this morning. The top response (shown below) when asked specifically about 2023 pointed to the following from the Manufactured Housing Association for Regulatory Reform (MHARR).
Now, though, these longer-term obstructions to industry growth have been joined by another more immediate short-term shock to the market – specifically the threat of draconian U.S. Department of Energy (DOE) “energy conservation” standards that will significantly increase the acquisition price of manufactured homes. Those standards, as noted by a May 9, 2023 Wall Street Journal editorial, deserve to be “killed.” But while the enforcement of the DOE standards has been temporarily delayed, it is no coincidence whatsoever that new manufactured home sales began to show signs of weakness in the immediate aftermath of the publication of the May 31, 2022 final DOE rule and entered negative growth territory a few months later.”
But when asked like the following inquiry, below is the Bing AI reply to:
> “Why is manufactured housing underperforming in the U.S. during an affordable housing crisis?”
- Financing challenges: The report highlights that financing for manufactured homes is often more expensive and less accessible than financing for site-built homes. This is due to several factors, including the lack of secondary market support for manufactured home loans and the higher risk perception of lenders 1.
- Energy efficiency regulations: The Department of Energy (DOE) has introduced new energy efficiency regulations that have increased the cost of manufacturing and installing manufactured homes. This has made them less competitive with site-built homes 1.
- Zoning and placement barriers: The report identifies zoning and placement barriers as a significant challenge for manufactured housing. Local zoning laws often restrict the placement of manufactured homes in certain areas, making it difficult for low-income households to find affordable housing 1.
- Perception issues: Manufactured homes are often perceived as being of lower quality than site-built homes, which can deter potential buyers from considering them as an option 2.
It is important to note that these factors are not exhaustive and that there may be other reasons why manufactured housing is underperforming during the current affordable housing crisis.
Learn more:
- einpresswire.com 2. housingmatters.urban.org 3. bing.com 4. manufacturedhomepronews.com 5. einnews.com 6. manufacturedhomepronews.com 7. multifamily.fanniemae.com“
The media releases linked above are from either MHARR or MHProNews/MHLivingNews. When it comes to manufactured housing industry connected sources, oddly missing is MHI. Why hasn’t MHI’s website substantively addressed an issue that their own incoming chairman and then vice-chair William “Bill” Boor spoke to Congress about last July 14, 2023? Why is a sensible explanation similarly lacking from MHI linked trade media and bloggers?
Despite whatever search bias and financial considerations are involved at Google or Bing with MHI linked firms, the reasons why MHProNews/MHLivingNews apparently dominates based on all the known data is simple. We provide the facts, research, and analysis that others don’t. We provide it in greater detail and depth than others do too.
There are insights from Canada that Americans in the U.S. should consider, and vice versa. Our circle of friends and contacts on both sides of the border are useful in better understanding the slowly boiling issues that could erupt if serious efforts aren’t undertaken.
Killam’s Fraser noted the need for more construction. That’s a simple application of the principle or “law of supply and demand” being put to its logical work. Left-leaning Bloomberg and the Washington Post both made clear as 2023 loomed that manufactured housing is an important part of the affordable housing crisis solution.
While some on the left, like Professor Fran Quigley, claim that there is plenty of new construction being built, they do so by hastily adding the point that the new housing is not sufficiently affordable for millions of Americans.
As the report and analysis above from August 29, 2023 made clear, once more the solution that should come into focus is the need for more affordable manufactured homes. The following question was put to Bing:
> “Why hasn’t the Manufactured Housing Institute sued to compel enforcement of the Manufactured Housing Improvement Act of 2000 (MHIA) enhanced preemption provision?”
Note that every single page one response on the left in answer to that inquiry are found on MHProNews or MHLivingNews. On the left, MHARR is mentioned, but nowhere does MHI, nor its trade media allies and bloggers are listed as giving any insight into that obvious question.
Note: to expand this image to a larger or full size, see the instructions
below the graphic below or click the image and follow the prompts.
Absent from that search inquiry are any information from MHI itself and/or from MHI linked bloggers and trade media.
There are no known efforts by MHI to sue to enforce federal enhanced preemption under the MHIA.
Note: depending on your browser or device, many images in this report and others on MHProNews can be clicked to expand. Click the image and follow the prompts. For example, in some browsers/devices you click the image and select ‘open in a new window.’ After clicking that selection you click the image in the open window to expand the image to a larger size. To return to this page, use your back key, escape or follow the prompts.
Killam’s report indicates similar dynamics for Canada as in the U.S. But Canada doesn’t have a precise equivalent of the HUD Code for manufactured housing and enhanced preemption, the U.S. does. But like the U.S., there is nearly no new development of manufactured home communities up north. There are developments of apartments and other forms of multi-family housing.
Note. To illustrate the point about the lack of a Canadian equivalent to the HUD Code is the following inquiry to Bing’s AI Chat:
> “Does Canadian manufactured housing have an equivalent to the HUD Code and its enhanced federal preemption provision?”
However, there is no equivalent to the HUD Code in Canada. The HUD Code is a federal building standard that regulates the design and construction of manufactured homes in the United States 2. It is enforced by the U.S. Department of Housing and Urban Development (HUD) and provides uniform standards for manufactured home construction, quality, durability, safety, and energy efficiency 2.
The enhanced federal preemption provision of the HUD Code ensures that manufactured homes are treated as housing rather than vehicles or personal property 3. This provision prevents state and local governments from imposing discriminatory zoning regulations on manufactured homes that are not imposed on site-built homes 3. There is no equivalent provision in Canada.
I hope this information helps!
Note that once more the Bing results reveal that MHProNews and MHARR dominate on the facts – where is the larger and better funded MHI and their blogging/trade media allies? The top result on Bing’s regular search was also MHProNews, citing an interview with a Canadian involved in their manufactured housing industry. Note too that there is a wide disparity between Bing and Google, which goes in part to the issues that are being explored in a big antitrust suit against Google. Perhaps more on that developing issue another time.
For more on Canadian housing issues with a focus on rent control, see the exclusive below.
The recent remarks by HUD’s Regina Gray noted how other nations are looking to the U.S. and its manufactured home program.
The latest on manufactured housing production data, see the post linked below.
Part III – is our Daily Business News on MHProNews stock market recap which features our business-daily at-a-glance update of over 2 dozen manufactured housing industry stocks.
This segment of the Daily Business News on MHProNews is the recap of yesterday evening’s market report, so that investors can see at glance the type of topics may have influenced other investors. Thus, our format includes our signature left (CNN Business) and right (Newsmax) ‘market moving’ headlines.
The macro market move graphics below provide context and comparisons for those invested in or tracking manufactured housing connected equities. Meaning, you can see ‘at a glance’ how manufactured housing connected firms do compared to other segments of the broader equities market.
In minutes a day readers can get a good sense of significant or major events while keeping up with the trends that are impacting manufactured housing connected investing.
Reminder: several of the graphics on MHProNews can be opened into a larger size. For instance: click the image and follow the prompts in your browser or device to OPEN In a New Window. Then, in several browsers/devices you can click the image and increase the size. Use the ‘x out’ (close window) escape or back key to return.
Headlines from left-of-center CNN Business – from the evening of 10.4.2023
- Kaiser Permanente workers are on strike. Here’s what makes it such a unique health care company
- Abercrombie & Fitch says it’s ‘appalled’ by allegations against former CEO, begins investigation
- Did your cell phone make a screeching noise today? Here’s why
- Former U.S. President Donald Trump appears in the courtroom with his lawyers for his civil fraud trial at New York State Supreme Court on October 03, 2023 in New York City. Trump may be forced to sell off his properties after Justice Arthur Engoron canceled his business certificates and ruled that he committed fraud for years while building his real estate empire after being sued by Attorney General Letitia James, who is seeking $250 million in damages. The trial will determine how much he and his companies will be penalized for the fraud.
- Trump gets kicked off Forbes 400 list of richest Americans
- Sam Bankman-Fried sits with his defense team during his fraud trial over the collapse of FTX, the bankrupt cryptocurrency exchange, at Federal Court in New York City on October 4, 2023, in this courtroom sketch.
- Sam Bankman-Fried’s crypto empire was ‘built on lies,’ US prosecutor says
- People walk past the New York Stock Exchange (NYSE) on Wall Street on September 27, 2023 in New York City.
- Why Wall Street investors are freaking out
- The US Treasury Department building is seen in Washington, DC, on January 19, 2023.
- Why you should care about the global rout in government bonds
- A woman holds a placard, as a coalition of Kaiser Permanente Unions representing 75,000 healthcare workers at Kaiser Permanente start a three day strike across the United States over a new contract, in San Diego, California, U.S. October 4, 2023.
- 75,000 Kaiser Permanente workers walk off the job. It’s the largest health care worker strike in US history
- Britain makes drastic cuts to giant HS2 rail project. Business warns of blow to credibility
- A Kaiser Permanente health care center is pictured in Anaheim, California, U.S., October 3, 2023 as more than 75,000 Kaiser Permanente healthcare workers could go on strike from Oct. 4 to Oct. 7 across the United States.
- Have you been affected by the Kaiser health workers strike?
- The private sector added just 89,000 jobs last month, far below expectations
- McDonald’s and Wendy’s win false advertising lawsuit
- Homes of journalists at India news site critical of government raided, fueling press freedom fears
- Powerball jackpot soars to an estimated $1.2 billion for tonight’s drawing. Here are your odds – and what you could buy
- Hate returning packages? Uber will now do it for you
- How America’s broken information environment birthed the chaos wrought by Matt Gaetz
- Capvision says it has addressed China’s concerns about national security
- SoftBank CEO says artificial general intelligence will come within 10 years
- Real estate insiders question how Trump fraud judge valued Mar-a-Lago
- McCarthy’s ouster could hurt the US economy
- Starbucks set to close seven stores in San Francisco
- Federal appeals court extends limits on Biden administration communications with social media companies to top US cybersecurity agency
- The fate of this consumer watchdog is in the hands of the Supreme Court
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below the graphic below or click the image and follow the prompts.
Headlines from right-of-center Newsmax 10.4.2023
- Poll: Majority Want Newt Back as Speaker
- Former Speaker of the House Newt Gingrich, R-Ga., is seen in the U.S. Capitol before entering the office of then-Speaker of the House Kevin McCarthy, R-Calif., in January. (Tom Williams/CQ Roll Call via AP)
- Newt Gingrich, who served as House Speaker from 1995-99, is the overwhelming choice of likely Republican voters for the seat after the ouster of Rep. Kevin McCarthy, according to a poll released Wednesday. [Full Story]
- Search for a New Speaker
- RNC Chair: House Infighting ‘Not Good’
- Rep. Gaetz to Newsmax: Want to Retaliate? ‘Get in Line’
- Poll: Majority Want Newt Back as Speaker
- Rep. Rosendale: ‘It Was Time’ for McCarthy to Go | video
- House Majority Leader Scalise to Seek Speakership
- Rep. Bill Johnson: ‘Group of Vandals’ Ousted McCarthy | video
- Rep. Lawler: Removing McCarthy an ‘Abomination’
- Rep. Hern: I Can Unite GOP as Speaker | video
- Christie: McCarthy’s Ouster Bad Look for GOP | video
- Dick Morris: Gaetz Destabilizing Republican Party
- Trump Won’t Rule Out Speakership: ‘I Would Do It’
- Trump Advisers: He Didn’t Back Gaetz Effort
- Jim Jordan to Run for House Speaker
- More Search for a New Speaker
- Newsmax TV
- Alina Habba: Fighting N.Y. Case ‘Very Important’ to Trump
- Rep. Tenney: ‘Ridiculous’ to Blame Border on GOP | video
- Napolitano: Trump’s N.Y. Lawyers ‘Didn’t Make a Mistake’ | video
- Ex-Rep. Collins: Rep. Bowman Must Face Consequences | video
- Sen. Johnson: Biden’s Open Border Profits Cartels | video
- Huckabee: Trump’s N.Y. Fraud Case ‘Is a Sham’ | video
- Grenell: WH ‘Behind the Eight Ball’ on Serbia-Kosovo | video
- More Newsmax TV
- Newsfront
- Trump Lawyers Target Accountant, Appeal Major Pretrial Ruling in Fraud Case
- Warned to mind his out-of-court comments, former President Donald Trump returned to his New York civil fraud trial Wednesday as his defense lawyers closely questioned an accountant who prepared financial statements at the heart of the case.Outside the courtroom, Trump’s…… [Full Story]
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- Trump: This Is a ‘Railroading,’ ‘Does Not Allow Me a Jury’
- $1.2 Billion Powerball Drawing Nears
- A $1.2 billion Powerball jackpot will again be up for grabs Wednesday [Full Story]
- Senators Concerned Over Possible US-Israel-Saudi Deal
- Twenty Democratic U.S. senators on Wednesday expressed support for a [Full Story]
- Pope ‘Furious’ Over Anti-Christian Spitting Incidents
- Pope Francis was “furious” after learning that Jewish youths in [Full Story]
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- US Catholics Disturbed by Pope Francis on Same-Sex Unions, Synod Plans
- RNC Chair: House Infighting ‘Not Good’
- House GOP members taking time to find a speaker to replace Kevin [Full Story]
- British PM Sunak: ‘A Man Is a Man, A Woman Is a Woman’
- British Prime Minister Rishi Sunak in his closing speech at the [Full Story]
- Say Goodbye to the COVID-19 Vaccination Card
- It’s the end of an era for a once-critical pandemic document: The [Full Story]
- Abortion-Rights Group Endorses Sinema Challenger
- Sen. Kyrsten Sinema, I-Ariz., has lost the support of a prominent [Full Story]
- Russia Says It Shot Down 31 Drones Over Its Territory
- Russian air defenses shot down 31 Ukrainian drones during a concerted [Full Story]
- Related
- Global Red Cross Urges Ouster of Belarus Chapter Chief over the Deportation of Ukrainian Children
- EU’s Borrell: Fighting Ukraine ‘Disinformation’ High Priority
- Boston Globe Poll: Trump 30 Points Ahead in N.H.
- Former President Donald Trump is 30 points ahead of his closest rival [Full Story]
- Expelling Bowman Over Fire Alarm Incident Could Be Difficult
- Even if Rep. Jamaal Bowman, D-N.Y., winds up facing criminal charges [Full Story] | Platinum Article
- Transgender Swimming Races Canceled; No Entrants
- Swimming events created to include transgender and nonbinary [Full Story]
- Biden’s Energy Regulations Set to Fuel ‘Sky High’ Oil Prices
- Drivers shouldn’t get used to the recent reprieve at the fuel pump. [Full Story] | Platinum Article
- NYC Moves to Suspend ‘Right to Shelter’ for Migrants
- New York City is challenging a unique legal agreement that requires [Full Story]
- Swiss Writer Sentenced for ‘Fat Lesbian’ Remark
- A court in Switzerland sentenced a writer to 60 days in jail for [Full Story]
- Shorter, Intense Radiation Safe for Breast Cancer
- Breast cancer patients who undergo a mastectomy can probably benefit [Full Story]
- FTX Chief Stole $10B From Customers: Prosecutor
- Sam Bankman-Fried took more than $10 billion from unsuspecting [Full Story]
- Experts Push Back on TikTok 401(k) ‘Scam’ Video
- A TikTok viral video slamming 401(k)s as a “scam” is patently wrong [Full Story]
- Pa. School Passes Birth Gender Restroom Rule
- A Pennsylvania school district just north of Philadelphia has passed [Full Story]
- Host Sites Revealed for First 2030 World Cup Matches
- Host Sites Revealed for First 2030 World Cup Matches
- Alejandro Dominguez,head of South America’s soccer governing body [Full Story]
- Gallup Poll: Majority Says Business, Politics Bad Mix
- Companies are increasingly wading into political or social issues, [Full Story]
- Gallup Poll: Support for 3rd Party Highest Ever
- Democrats and Republicans have ruled and battled in Washington, D.C., [Full Story]
- Rep. Hoyer Loses Capitol Hideaway Office
- A second member of House Democrat leadership in the previous [Full Story]
- Moderna COVID/Flu Shot Combo Effective in Trial
- Moderna on Wednesday said its combination vaccine to protect against [Full Story]
- US Warns of Chinese Disinformation; China Blames US
- For much of the world, China’s Xinjiang region is notorious, a place [Full Story]
- Kari Lake Files for Arizona Senate Race
- On Tuesday, Republican Kari Lake officially entered the race for the [Full Story]
- Rep Luna: I’ll Only Support Speaker Who Backs Biden Impeachment
- Rep Luna: I’ll Only Support Speaker Who Backs Biden Impeachment
- Rep. Anna Paulina Luna, R-Fla., said she would only support a new [Full Story]
- FTX Founder Bankman-Fried’s Trial Begins
- Sam Bankman-Fried, the founder of the crypto exchange FTX and one of [Full Story]
- Rep. Burchett: McCarthy Was Condescending About My Faith
- Rep. Tim Burchett of Tennessee said a “condescending” remark from his [Full Story]
- Canadian Wildfire Smoke Engulfs Florida, Prompts Air Alert
- Hazy skies and reduced visibility enveloped Florida on Tuesday as [Full Story]
- Federal Court Limits Cyber Agency’s Contact with Big Tech
- A federal appeals court Tuesday barred the Cybersecurity and [Full Story]
- US Homeowners Ditching Solar Panels for This – Powers Your Entire Home [Watch]
- US Homeowners Ditching Solar Panels for This – Powers Your Entire Home [Watch]
- Easy DIY Power Plan
- More Newsfront
- Finance
- Gallup Poll: Majority Says Business, Politics Bad Mix
- Companies are increasingly wading into political or social issues, but Americans are less in support of it. Target, Bud Light, and Disney have all faced backlash over their support of the LGBTQ+ community… [Full Story]
- Biggest Bond Markets Steady After Heavy Selloff
- GM Locks in $6B Credit Line as Strike Costs Rise
- Google Pixel 8 Smartphones Feature AI Camera
- Fed’s ‘Soft Landing’ Hopes Likely Optimistic
- More Finance
- Health
- Even Short Bursts of Daily Activity Lengthen Life
- Good news for couch potatoes – bursts of activity as short as one to three minutes in duration can prompt a steep decrease in the risk of heart attack, stroke and early death, a new study reports. Researchers tracked the activity of more than 25,000 people in the United…… [Full Story]
- Yelling at Kids as Damaging as Physical, Sexual Abuse
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In instances such as Apollo, Berkshire Hathaway, Blackstone or others, manufactured housing may only be part of their corporate interests. Note: depending on your browser or device, many images in this report and others on MHProNews can be clicked to expand. Click the image and follow the prompts. For example, in some browsers/devices you click the image and select ‘open in a new window.’ After clicking that selection you click the image in the open window to expand the image to a larger size. To return to this page, use your back key, escape or follow the prompts.
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- NOTE 1: Chart above of manufactured housing connected equities includes the Canadian stock, ECN, which purchased Triad Financial Services, a manufactured home industry finance lender.
- NOTE 2: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).
- NOTE 3: Deer Valley was largely taken private, say company insiders in a message to MHProNews on 12.15.2020, but there are still some outstanding shares of the stock from the days when it was a publicly traded firm. Thus, there is still periodic activity on DVLY.
- Note 4: some recent or related reports to the REITs, stocks, and other equities named above follow in the reports linked below.
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2023 …Berkshire Hathaway is the parent company to Clayton Homes, 21st Mortgage, Vanderbilt Mortgage and other factory-built housing industry suppliers.
· LCI Industries, Patrick, UFPI, and LP each are suppliers to the manufactured housing industry, among others.
· AMG, CG, and TAVFX have investments in manufactured housing related businesses. For insights from third-parties and clients about our publisher, click here.
2022 was a tough year for many stocks. Unfortunately, that pattern held true for manufactured home industry (MHVille) connected stocks too. See the facts, linked above.
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Disclosure. MHProNews holds no positions in the stocks in this report.
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- Note 1: MHVille means manufactured housing industry, MHVille also means artificially smaller manufactured housing (MH) industry,
- Note 2: Manufactured housing, building, factories, retail, dealers, manufactured home, communities, passive mobile home park investing, suppliers, brokers, finance, financial services, macro-markets, manufactured housing stocks, Manufactured Home Communities Real Estate Investment Trusts, MHC REITs.
That’s a wrap on this installment of “News Through the Lens of Manufactured Homes and Factory-Built Housing” © where “We Provide, You Decide.” © (Affordable housing, manufactured homes, stock, investing, data, metrics, reports, fact-checks, analysis, and commentary. Third-party images or content are provided under fair use guidelines for media.) (See Related Reports, further below. Text/image boxes often are hot-linked to other reports that can be access by clicking on them.)
By L.A. “Tony” Kovach – for MHProNews.
Tony earned a journalism scholarship along with numerous awards in history. There have been several awards, honors and numerous public recognitions for his achievements in manufactured housing. For example, he earned the prestigious Lottinville Award in history from the University of Oklahoma, where he studied history and business management. Kovach is a managing member and co-founder of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com, which is ranked as the runaway most read trade media in modern manufactured housing history. This article reflects the LLC’s and/or the writer’s editorial views and may or may not reflect the views of sponsors or supporters.
