News Reports: Housing news updates and reports for Manufactured Home and Modular Housing Industry professionals and investors. Business – daily fact checks, market reports, and analysis.
A 40-year veteran of the manufactured home industry, serving most recently before his retirement as general manager of Friendship Homes of Montevideo, Minnesota, Dick Lance passed away at age 82 in Fergus Falls, MN Oct. 20. An inductee into the Hall of Fame of the Manufactured and Modular Home Association […]
Passages: Dick Lance Read More
Darryl Searer, chairman and president of the Recreational Vehicle/Manufactured Housing (RV/MH) Hall of Fame in Elkhart, Indiana has announced that a 12-year loan taken out to purchase the David Woodworth antique RV collection has been paid in full— in just 2½ years, saving the Hall $565,000. Searer successfully renegotiated the
RV/MH Hall of Fame Head saves over $600,000 Read More
In the news from CNNMoney: Ben Bernanke is no fan of Bernie Sanders, and the feeling is mutual. Manufacturing giant 3M cuts 1,500 jobs. Skechers is winning the sneakers war. 401K contributions will remain at $18,000 for next year. Obama administration interested in helping Puerto Rico with its $72 billion
Several Manufactured Housing Stocks Rise Three Figures; Dow Gains 320 Points Read More
Recalling a story MHProNews posted Sept. 5, 2014 regarding Mel Watt, then the new FHFA head, who said the “duty to serve” (DTS) rule as it impacts manufactured housing will be “revisited,” now says, “In 2016, we also plan to finalize a Duty to Serve rule, which will encourage Fannie
Final “Duty to Serve” Rule Planned; Average MHC Site Cost Nearly Doubles in 18 Months Read More
Intense sparring erupted at a meeting between residents of The Grove Manufactured Home Community and the MHC owner, Todd Green, of Hillsboro Properties, over new rules for the community, located in Modesto, California. to take effect May, 2016. Several residents said some of the rules are vague and open the
Residents React to New rules for Manufactured Home Community Read More
From Redlands, California comes word that manufactured home lender New Horizon Mortgage Concepts has posted record growth in recent years for manufactured home loans, according to pressreleaserocket. Never having experienced this amount of growth, the company’s Q3 2015 is $500,000 over their 2014 year end totals, and expects to hit
New Horizon Hits Record Levels in Manufactured Home Lending Read More
Catalina manufactured home community (MHC) in Middletown, Ohio, midway between Cincinnati and Dayton, has been acquired by Freehold, NJ-based UMH Properties, Inc., according to baystreet. Emphasizing community, safety, quality, and affordability, Catalina has a pool, playground and safety patrol, as part of UMH’s dedication to making its MHCs friendly and
UMH Acquires Ohio Manufactured Home Community Read More
MHProNews has learned from marketwatch that Drew Industries, Inc. (DW) will release its Q3 2015 financial results before the market opens on Tue., Nov 3, 2015, followed by a conference call later that same morning at 11 AM EST to discuss the results. The question and answer session will be
Drew to Release Q3 Results Read More
The new disclosure rule which combines the previous Truth in Lending Act (TILA) requirements with the Real Estate Settlement Practices Act (RESPA) into one Integrated Disclosure, called TRID, has not rolled out well due to mortgage software problems and Congressional inaction, said CFPB Director Richard Cordray to the Mortgage Bankers
Implementation of TRID Rough; Charges Fly Read More
In the news from CNNMoney: ESPN laying off several hundred people. Sales of Diet Coke plunge. Biotech is cutting jobs. Shares of Valeant Pharmaceuticals plummet amid charges of fraud. August home sales at highest level since 2008, while homebuilder confidence reaches ten-year high. Oprah buying ten percent stake in Weight
Skyline Corp. Rises 8.62%; MHCV Slips -0.65% Read More
Ingenia Communities in Australia has acquired Lakeside Lara, a manufactured home community (MHC) 38 miles from downtown Melbourne for $16.3 million AUD, just under $11.8 million U. S. dollars, as Ingenia moves away from tourism rentals and into owner-occupied MHCs, according to what smh.au tells MHProNews. The 8.3 hectares (20.5
Australia’s Ingenia Acquires Land Lease Community Read More
For the third quarter, 2015, MHProNews has learned from moneyflowindex that manufactured community owner Equity LifeStyle Properties (NYSE:ELS) reported earnings per share (EPS) of $0.77, beating analysts’ consensus estimate by $.01. For the same quarter in 2014 EPS was $0.69. Compared to the same quarter last year, revenue was up
Equity LifeStyle Properties Hits New High Read More
On May 14, 2015 MHProNews reported Tim Williams, Executive Director of the Ohio Manufactured Homes Association (OMHA), testified against objectionable EPA language in the Ohio state senate’s budget legislation that would require a manufactured home community owner to escrow 15 percent of the cost to update a water system if
Ohio MHA Succeeds in Removing Objectionable Legislative Language Read More
In the news from CNNMoney: 134 Americans each earned more than $50 million last year. Trump cancels appearance on Jimmy Kimmel live. Harley-Davidson to cut workforce. Warren Buffett’s hot stock picks did not do well this year. Chipotle has worst sales growth in two years. Fiat Chrysler workers vote on
Manufactured Housing Composite Value Gains Sharply Read More
According to financialtimes, the National Association of Home Builders (NAHB) reports homebuilder confidence rose to its highest level since October 2005, climbing three points to 64, two points above expectations. Any number above 50 indicates builder sentiment is positive. “The fact that builder confidence has held in the 60s since
Homebuilder Confidence Hits Ten-year High Read More
A manufactured home (MH) produced by Commodore Corporation was in transit from Goshen, Indiana to Rice Lake, Wisconsin when a dump truck ran a red light and damaged one of the sections of the house. The dump truck driver said his brakes were not operating correctly as he went through
Manufactured Home Damaged in Crash Read More
MHProNews has learned from azbigmedia that Westview Mobile Home and RV Park in Glendale, Arizona has been sold for $1 million by 6331 W Glendale LLC to Westview Park LLC, arranged by John Sheedy with Park Brokerage Inc. The 33 home site all-age manufactured home (MH) and recreational vehicle community
Land Lease Community Sells for $1 Million in Arizona Read More
A group opposing modular homes in Cape Coral, Florida, intends to state its opposition at the city council meeting, according to what fort-myers-beach-observer tells MHProNews, alleging that the lower cost and energy efficient homes will reduce the value of neighboring homes. Council member Richard Leon wants the state to allow
Modular Homes Challenged in Cape Coral, Florida Read More
Updating a storyMHProNews last posted Aug. 20, 2015, regarding the acquisition of six manufactured home communities (MHCs) by UMH Properties, Inc. of Freehold, New Jersey, prnewswire reports the company has closed on the second half of the deal. These three all-age communities, located in Indiana, are comprised of 1,254 developed
UMH Closes on Second Half of Acquisition Read More
In the news from CNNMoney: China produces half of the world’s steel. While China’s growth slows to 6.9 percent, its surplus of steel is flooding the world’s markets at reduced prices, putting thousands of steel workers in other countries out of work. While a strong dollar has made overseas travel
Skyline Gains Sharply; Strong Dollar Increases Overseas Travel Read More
