We also have some interesting comments from a top executive of a Manufactured Housing Institute (MHI) member company that operates in the land-lease community business sector.
Those will be our featured-focus tonight, beyond the evening graphics and other standard market snapshot fare.
Every evening our headlines that follow provide snapshots from two major media outlets on each side of the left-right news spectrum that reflect topics that influence or move investor sentiment. In moments on this business evening report, you can get ‘insights-at-a-glance.’
This report also sets the broader context for manufactured housing markets, in keeping with our mantra, “News through the lens of manufactured homes and factory-built housing” ©.
We begin with headlines left-of-center CNN followed by right-of-center Fox Business. We share closing tickers and other related data courtesy of Yahoo Finance, and more. 5 to 10 minutes reading this MHProNews market report every business night could save you 30 minutes to an hour of similar reading or fact-gathering elsewhere.
Perhaps more important, you will get insights about the industry from experts that care, but also dare to challenge the routine narrative that arguably keeps manufactured housing underperforming during an affordable housing crisis.
Headlines from left-of-center CNN Business
- Stocks slide, again
- In this March 21, 2020 photo, a lone pedestrian walks his dog past the New York Stock Exchange as COVID-19 concerns empty a typically bustling downtown area in New York. New York Gov. Andrew Cuomo announced sweeping orders Friday that will severely restrict gatherings of any size for the state’s more than 19 million residents and will require workers in nonessential businesses to stay home.
- LIVE UPDATES Markets end lower, after coronavirus economic relief package fails in the Senate
- The US is running two races against coronavirus. It has to win both
- LIVE DATA Track what stocks are being battered by coronavirus — and which are getting a boost
- Boeing shuts Washington state factories
- Fed takes emergency action to stave off a depression
- Scaramucci: Here’s what the government needs to do
- Opinion: The best way to help out-of-work Americans right now
- 30 days that brought the world to the brink of a depression
- Instacart plans to hire 300,000 more workers as demand surges for grocery deliveries
- Bonuses and pay hikes: How grocery stores keep workers on the front lines
- GameStop closes all stores
- Facebook has a coronavirus problem. It’s WhatsApp.
- 3M CEO: Our medical masks should not be showing up in stores
- This March 18, 2020, photo shows a funeral that was affected by new rules put in place due to the coronavirus outbreak in Milwaukee. Wisconsin Gov. Tony Evers restricted gatherings to less than 10 people the day before. The coronavirus that’s changed everything about our lives has dramatically changed the way we grieve for the dead, too.
- Funerals are the latest part of American life to move online
- Shoppers wait in line to enter a Stop & Shop supermarket during hours open daily only for seniors Thursday, March 19, 2020, in North Providence, R.I. This week grocery store chains and other retailers began offering special shopping hours for seniors and other groups considered the most vulnerable to the new coronavirus. The dedicated shopping times are designed to allow seniors, pregnant women and people with underlying health conditions to shop among smaller crowds and reduce their chances of acquiring the virus.
- Cops in the toilet paper aisle: Grocery stores add extra security
- STAYING AFLOAT
- What to do if you’re worried about paying your bills
- 5 ways small businesses are staying afloat
- How to help your favorite small businesses survive
- Social distancing is hammering these businesses
- How to prepare if coronavirus might cut your income
- YOUR PRIVACY
- A photo taken through thick glass shows passengers (C) wearing face masks as a precautionary measure against the COVID-19 coronavirus as they receive quarantine tracking wrist bands at Hong Kong’s international airport on March 19, 2020. – On March 18, Hong Kong authorities began ordering all arrivals from overseas to wear electronic bracelets, connected to an app to mark your location, and two weeks self-quarantine.
- In the battle against coronavirus, personal privacy is at risk
- US wants to use your location data to track coronavirus
- Israel deploys spy technology to track the virus
- Apple suspends controversial facial recognition app
- Facebook will pay you up to $5 to record your voice
Headlines from right-of-center Fox Business
- Dow on pace for worst month since September 1931
- The Fed will buy Treasury and mortgage-backed securities in ‘amounts needed to support’ the economy, but Congress still hasn’t passed a stimulus bill.
- Roughly 80 million US jobs at risk, analysts report
- Boeing suspends work at some facilities
- Scalise: Congress act quickly so banks can save customers
- Coronavirus stimulus plan pushed by Navarro, urges end to partisan bickering
- Famous beer maker to start producing hand sanitizer
- Zillow suspends home buying
- Ackman: US economy will ‘roar back’
- Coronavirus small business disaster loan relief: What to know
- Tensions flare as Senate coronavirus bill derailed again by Dem objections
- How Trump can use sweeping new powers to reshape the economy
- China may launch $7T coronavirus stimulus plan, including coalpower
- Fed survey reveals how bad US businesses hit by coronavirus
- Uber CEO wants drivers in on coronavirus stimulus plan
- Labor secretary: America ‘very strong’ but will shed tons of jobs
- Coronavirus crisis demands job protection, not progressive wish list
- Major drugmaker to delay new studies as coronavirus strains hospitals
- Supreme Court tosses Byron Allen discrimination case
- Kim Kardashian forced to shutter beauty line’s fulfillment center
- Tito’s Handmade Vodka working to manufacture hand sanitizer
- Theranos founder Elizabeth Holmes to face trial separate from ex-lover
- ‘Plague Inc.’ video game maker donates to response effort
- Blue Apron meal kit delivery surges with coronavirus demand
- As coronavirus hits New York, city jails let officers bring masks to work
- Carnival Cruises CEO defends coronavirus pandemic response
- Mnuchin ‘very hopeful’ US can beat coronavirus in 10-12 weeks
- Fed takes major action to support markets as coronavirus weighs on economy
- Cavuto: Coronavirus not right or left argument, it’s a ‘wrong phenomenon’
- Coronavirus response volunteers with these skills are most in demand
- Banks across US instituting changes
- Jails release thousands of inmates to curb coronavirus spread
- WATCH: More coronavirus testing drive-thrus open in NY as cases surge
- Cruise ship forced to dock in Hawaii because of mechanical problems, virus fears
- Papa John’s hiring 20,000 amid coronavirus demand surge
- Detroit landlord’s small-business survival plan: Free rent until July
- Honeywell to ramp up mask production creating at least 500 jobs
- PG&E to plead guilty to involuntary manslaughter charges in deadly California wildfire
- Medical workers being directed to reuse supplies
- IOC looking at postponing Tokyo Olympics; Canada, Australia pulls out
- WATCH: NYSE president says electronic trading operating normally
- Air Canada lays off 5,000 employees
- How coronavirus outbreak impacts funerals, memorial services
- Jeff Bezos: ‘Things are going to get worse’
- Apple scraps curbs on online buyers of iPhones amid virus outbreak
- Cellularity CEO: Testing ‘easily-administered’ coronavirus treatment
- Germany’s Angela Merkel in quarantine after doctor tests positive for coronavirus
- Cisco committing $225M to global coronavirus response
- Mike Pompeo arrives in Afghanistan to move Taliban peace deal forward
- Fed’s Neel Kashkari: Banks are safe
- Mnuchin reveals how much money average family of 4 could receive in virus stimulus
- Olympic swimmer describes his battle with coronavirus: ‘Worst I’ve ever endured’
- Tom Brady joins the Tampa Bay Buccaneers — Why you should consider Florida, too
- Rand Paul tests positive for coronavirus
- WATCH: CityMD medical director explains best way to fight off coronavirus
Featured Focus – Where Business, Politics and Investing Can Meet
The CNBC headline reads: “Potential wave of mortgage delinquencies could bankrupt the payment system”
- The Mortgage Bankers Association estimates that if about a quarter of all borrowers request and are granted loan forbearance for six months or longer, demands on servicers could exceed $75 billion and could climb well above $100 billion.
- That would easily bankrupt the mortgage finance system.
- The MBA sent a letter late Sunday to Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin, asking for cash to support mortgage servicers.
In one of a series of messages, a Manufactured Housing Institute (MHI) member community operator said in part to MHProNews’ publisher that “we’re all working hard for the people who live in our communities and who are so at risk from being devastated by the economic impacts of this crisis, let alone the health impacts.”
That same community-sector corporate leader said, “…community residents are at risk in the current crisis because so many of their jobs are at risk, how these residents will need support from Congress, both directly and via support for the industries in which they work, and how community owners will need corresponding relief from lenders to be able to continue providing this critical form of affordable housing.”
Manufactured housing – along with the nation – has been upended, as our recent reporting and that of the mainstream media should make clear.
During this evening’s press conference with President Donald J. Trump and the coronavirus task force, the president said that the team was not going to let the cure going to be worse than the disease.
The president also stressed that Asian Americans should not be blamed for virus. That seems to be a reference to a flap that occurred over the term “China virus.”
There are clearly tensions that have run high in the nation’s capital and around the country. That is underscored by outbreaks of violence that have occurred over high-demand items that are often being hoarded, ranging from certain grocery items like bread and milk, hand-sanitizer and work, toilet paper, medical items and more.
As upcoming reports on MHProNews will reflect, there are waves of impacts on housing in general and manufactured home specifically that are looming. If you aren’t already on our industry-leading emailed update list, you can sign up in seconds at the link above.
Manufactured Housing Industry Investments 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, a manufactured home industry lender
- NOTE: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).
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Submitted by Soheyla Kovach, co-managing member of LifeStyle Factory Homes, LLC and co-founder for MHProNews.com, and MHLivingNews.com.
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