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.
While Berkshire Hathaway, Inc. (NYSE:BRKA) says its profit for the first quarter 2014 slipped nearly four percent from last year, at the same time its revenues shot up about the same amount. First quarter earnings hit $4.71 billion this past quarter versus $4.89 billion for the same period last year. […]
Berkshire Hathaway: Q1 2014 Revenues Up, Profit Down Read More
Updating a story we last posted May 1, 2014 regarding the temporary closing of Meadowbrook Park manufactured housing community due to water and sewage problems in Richmond, Maine, MHProNews.com has learned owner Russ Edwards claims he has no income from the community and could not afford repairs. He alleges former
Manufactured Housing Board may Impose Sanctions, Fines for Septic Leak Read More
Sixteen high school students and their carpentry teacher from a program begun at Walter W. Brown High School in Langham, Saskatchewan, Canada constructed a modular building that will provide housing for four low-income families in Saskatoon. The students constructed all of the 660 square foot units in eight months, from
Students Build Modular Housing for Habitat for Humanity Read More
In an urgent action alert from the Manufactured Housing Institute (MHI), Chairman Nathan Smith reports the House Financial Services Committee will consider HR 1779, the Preserving Access to Manufactured Housing Act, on Wednesday, May 7. Last week he was urging recipients to contact their senators regarding a concurrent measure in
Chairman Smith: Contact your U. S. Representative for Support of HR 1779 Read More
According to wilmingtonbiz.com in North Carolina, Charlotte-based Properties of Assurance LLC has closed on its acquisition of two manufactured housing communities in the Wilmington, NC area. Bavarian Pointe, a 22-homesite community and 48-homesite Carolina Pines were purchased from Freedom Property Investors LLC for an undisclosed price. MHProNews.com has learned the
Two Manufactured Home Communities Change Hands Read More
Despite a stronger than anticipated jobs report for April and a drop in the unemployment rate, the three major indexes all ended the week slightly in the red. The Dow Jones Industrial Average dropped -45.98 points, -0.28 percent, to end the day at 16,512.89, while the Nasdaq dropped minimally, losing
Deer Valley Advances 7.69 %; Dow, Nasdaq, S&P Slip Read More
Reporting on the RV/MH Heritage Foundation in Elkhart, Indiana, Hall of Fame President Darryl Searer says, “From August 1, 2013 through April 30, 2014, the Foundation has made significant improvements in its financial obligations and has made some major changes in its display area, gift shop and exhibitor booth area.”
Finances for RV/MH Hall of Fame Museum Improve Read More
Next Step Homes is the factory-built home distribution channel for parent company Next Step Network, which mobilizes nonprofit resources to provide affordable and ENERGY STAR homes for low income residents across the nation. Next Step couples its 25 nonprofit community housing development organizations with heavy hitters in the factory-built housing
Private, Public Alliance Provides Efficient Factory-built Homes to Low Income Americans Read More
Mission Trails Mobile Home Park in San Antonio, Texas may be closed to make way for a $75 million luxury riverfront apartment development, displacing some 200 residents who complain they discovered by accident about the possible sale and rezoning of their community when a resident happened to spot a rezoning
Manufactured Home Community Set to be Repurposed Read More
Updating a story MHProNews.com last reported on March 25, 2014 regarding the Life O’Riley Mobile Home Park in Lansing, Michigan condemned because of unsanitary conditions, State Representative Andy Schor introduced Bill 5513 to give local leaders more clout in dealing with problems at manufactured housing communities (MHCs). Lansing city officials
Measure would Empower Local Officials over Land Lease Communities Read More
Government-sponsored enterprise (GSE) Freddie Mac will begin purchasing and securitizing manufactured housing loans immediately, according to John Cannon, senior vice-president of the multifamily division. As globest.com informs MHProNews.com, Freddie sees manufactured homes as key to affordable housing. Cannon says, “It broadens our geographic footprint and creates a more balanced approach.”##
Freddie Mac Moves into Manufactured Homes Read More
Members of the manufactured and modular housing industries gathered at the 2014 National Expo and Congress for the National Industry Awards luncheon to honor those individuals and companies for outstanding achievements, as MHPronews has learned: Land Lease Community of the Year Awards (Northeast/Mid-Atlantic) – The Fairways at Mays Landing, Mays
National Award Winners Honored at MHI Expo Read More
Rebounding social networking stocks propped up the Nasdaq into positive territory in today’s trading, adding +12.89 points, +0.31 percent, to close at 4,127.45, according to CNNMoney. Other investors are playing hooky, anticipating the jobs report tomorrow, as the Dow Jones Industrial Average dropped -21.97 points, -0.13 percent, to end the
Patrick Industries Spike; Dow, S&P Slip Read More
Drew Industries, Inc. (DW) reports net sales in the first quarter of 2014 at $285 million, a 13 percent increase over the same period 2013, due to a 16 percent sales increase in the company’s recreational vehicle (RV) division. Net income nearly doubled from $8.4 million in the first quarter
Drew’s Sales, Profits Rise in Q1 Read More
The Cottonport (Louisiana) Town Council is being asked to change the ordinance that governs the distance between a manufactured home (MH) and the property line, according to avoyellestoday.com. Keith Ducote says more people are buying multi-section homes and the current ordinance should be changed from 25 feet to 20 feet
Change Requested for Siting Multi-section Manufactured Homes Read More
Updating a story MHProNews.com last posted April 25, 2014 concerning an MHC in Richmond, Maine that was ordered closed due to water and sewer problems because owner Russell Edwards allegedly said he could not afford repairs, residents now want to buy the community. According to wmtw.com, while Edwards is scheduled
Residents want to Buy their Land Lease Community Read More
The U. S. foreclosure inventory fell from 1.1 million in the first quarter of 2013 to 720,000 for the comparable period one year later, a drop of 37 percent. Based on CoreLogic’s National Foreclosure Report, worldpropertychannel.com informs MHProNews.com the foreclosure inventory as of March represented 1.8 percent of all homes
Foreclosures Continue to Drop Read More
In its first quarter, 2014 financials, manufactured housing community (MHC) owner Sun Communities, Inc. (SUI) reports funds from operations (FFO) of $38.3 million versus $31.7 million for the first quarter, 2013. Net income attributable to common stockholders in Q1 2014 was $7.8 million versus $5.7 million for the same period
Sun Communities Releases 1st Quarter 2014 Financials Read More
The Federal Reserve is reducing its bond buying activity by $10 billion monthly, as was expected, noting the economy is growing but the severe winter weather stymied growth. The Dow Jones Industrial Average edged up +45.47 points to a record high, +0.27 percent, to finish at 16,580.84. The Nasdaq advanced
Dow Hits New Record High as Federal Reserve Slows Stimulus Read More
Half of a multi-section Champion manufactured home being transported from Topeka, Indiana to Sioux City, Iowa broke free from its moorings on the flatbed truck as it was rounding a curve, causing the load to shift and land on Interstate 94 in northern IN, blocking two westbound lanes. The ramp
Manufactured Home Falls from Truck Read More
