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.
Patty Hydock closed her modular home sales center in Egg Harbor City, New Jersey in 2006 on the eve of the housing bubble, but re-opened Jersey Coast Modular Homes eight years later following another disaster, Hurricane Sandy, that created a need for housing. Hydock had eleven good years of buying …
With investors’ concern that the market was undergoing a correction last week—defined as a ten percent or more drop from a recent peak—fading, all three major indexes rebounded in today’s trading, although not totally making up for last week’s losses. The Dow Jones Industrial Average gained +75.91 points, +0.46 percent, …
Drew, Skyline, UFPI Lead Advances; Dow, Nasdaq and S&P Move Up as well Read More
MHProNews has learned from the Manufactured Housing Association for Regulatory Affairs (MHARR), statistics released by the Department of Housing and Urban Development reveal production of HUD Code homes grew 5.3 percent in June 2014 over last June, 5,624 homes over 5,338. Industry production for the year now totals 30,675 homes, …
Rick Robinson, General Counsel in Governmental Affairs at the Manufactured Housing Institute (MHI), congratulates Brad Lovin, Executive Director of the North Carolina Manufactured and Modular Homebuilders Association (NCMHA), on working to reduce the sales tax on manufactured and modular housing by half in NC. The amendment is attached as a …
In South Africa a proposal for modular, affordable housing involves filling a recyclable, lightweight plastic mould shaped into the form of a house with a government-approved mortar for the walls after the plumbing and electricity are installed, and the windows and doors are configured. The mortar dries within one day …
The Holly Village Council in Michigan has voted unanimously to install a master water meter to service Holly Village and Hawaiian Gardens manufactured home communities (MHCs), both owned and operated by Sun Communities, Inc., as MHProNews has been informed. Sun is responsible for distribution to the individual homesites, each with …
Seven weeks after an EF-4 tornado tore through Pilger, Nebraska, destroying 80 percent of the town, the first home going up is a modular for town clerk Kim Neiman and husband Ted. Ray Stahla of Stahla Homes in Norfolk, NE says he has two or three others interested in putting …
Encore Wire Corporation (Nasdaq:WIRE) is building a 250,000 square-foot addition to its existing aluminum manufacturing plant at McKinney, Texas, at a cost of $40 million plus, which includes upgrades to the entire complex, according to wsj.com. Encore offers a broad range of interior wiring for manufactured housing as well as …
Although the stock market endured one of its most grueling weeks in several years, some analysts say the Dow Jones Industrial Average is overdue for a correction and it will bounce back like it always has. In today’s trading the Dow Jones Industrial Average fell -69.63 points, -0.42 percent, to …
Drew Drops, Cavco Climbs; Dow, Nasdaq and S&P Slip Again Read More
In reporting financial results for the first quarter ending June 28, 2014 of its fiscal year 2015, Cavco Industries, Inc. (CVCO) says net revenue for Q1 rose 3.9 percent, from $134.0 million year-over-year to $139.2 million this year. Net income for fiscal year 2015 Q1 was $5.8 million, up from …
UMH Properties, Inc. has announced the opening of a new Regional Manufactured Home Sales Center located in Belle Vernon, PA. The center is adjacent to Port Royal Village, one of the public traded company’s many communities. Bob VanSchuyver Jr., Assistant V.P. Sales for UMH Properties, Inc., said: “ The premier …
UMH Opens Regional Manufactured Housing Sales Center Read More
The 32 residents of M & W Mobile Home Park in Alta Vista, West Virginia may have to vacate the community if the town council upholds its ruling to deny renewal of the permit to operate. Neither the community owner nor the residents were aware the council was holding a …
Following damage from Tropical Storm Irene in 2011 and Superstorm Sandy in 2012, Peter and Lorraine Grader decided to replace their 74 year-old house in Groton, Connecticut with a modular home set on 10-foot pilings, out of the flood zone and constructed to better withstand severe storms. According to theday.com, …
According to kansas.com, the U. S. Census Bureau reports the overall homeownership rate dropped to 64.7 percent in Q2 of 2014 from 66.9 percent in the same quarter five years ago. For those under 35, the Millennial generation, homeownership has dropped from 39 percent in the second quarter of 2010 …
Elkhart, Indiana-based Lippert Components, Inc. (LCI) has signed a multi-year contract to supply custom school bus windows to Blue Bird Corporation, a long-time manufacturer of school buses, according to stonline.com. Phil Horlock, President and CEO of Blue Bird, says, “Through significant collaboration, we’ve developed a best-in-class window complete with a …
The Bank of America (BAC) has been ordered to pay nearly $1.3 billion for mortgage fraud committed by Countrywide before B of A bought out the mortgage broker during the financial crisis. The loans were initially made through a lending program called the “High Speed Swim Lane,” involving little or …
Bank of America Paying for Countrywide’s Mortgage Fraud Read More
In the worst trading day in three months on the stock market, the Dow Jones Industrial Average plummeted -304 points, -1.80 percent, to end the day at 16,576.36, while the Nasdaq dropped -93.13 points, -2.09 percent, to close at 4,369.77. Similarly, the S&P 500 fell -38.41 points, -1.95 percent, to …
Nobility Shines, AMG and Cavco Fall; Dow Drops over 300 Points Read More
MHProNews has been informed that Sun Communities, Inc. (NYSE:SUI) has agreed to acquire a portfolio (the “ALL portfolio”) of 59 manufactured home communities from Green Courte Partners, LLC (GCP) comprising over 19,000 homesites for approximately $1.32 billion, including the assumption of $560 million debt. Nearly 14,000 of the sites, 73 …
A proposal to allow recreational vehicles to occupy manufactured home sites in land lease communities until a manufactured home is delivered passed the Coaldale, Alberta, Canada Town Council, according to sunnysouthnews.com. Town officials will include in the ordinance that only the owner of the home site can place an RV …
MHProNews has learned that Oliver Technologies Inc. (OTI), which provides components for the manufactured housing (MH) industry has moved into the former Southwestern ColorGraphics building in Keene, Texas, just south of Fort Worth. Headquartered in Hohenwald, Tennessee, OTI develops, manufactures and distributes foundation products for MH primarily throughout the Southwest. …
Oliver Technologies Opens Facility South of Fort Worth Read More
