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.
Manufactured housing community (MHC) owner Hometown America of Chicago has acquired age-restricted Saddlebrook Farms MHC in Grayslake, Illinois, an hour from the corporate office. The 700-acre community features nature preserves, wooded areas and over 100 acres of lakes stocked with fish, and the new owners intend to install a state-of-the-art […]
Hometown America adds Saddlebrook Farms to Portfolio Read More
The National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI) reports lower median prices and steady mortgage rates contributed to higher housing affordability in Q1 2014, rising from 64.7 percent of homes sold in Q4 2013 that were affordable to families earning the median income of $63,900, to
Housing Affordability Rises Slightly in First Quarter 2014 Read More
Retail sales, which account for one-third of consumer spending, rose only 0.1 percent in April, according to the Commerce Department, following an increase of 1.5 percent in March, which was the largest rise since March 2010. Furniture, electronic and appliance stores, as well as bars, restaurants and online retailers all
Consumer Spending Tepid in April Read More
The Dow Jones Industrial Average and the S&P both hit new highs, but settled down just below, as the Dow finished at 16,715.44 for the day, up +19.97 points, +0.12 percent, as CNNMoney tells MHProNews.com. The tech-heavy Nasdaq, however, slipped -13.69 points, -0.33 percent, to finish at 4,130.17, while the
Deer Valley Corp. Falls; Dow, S&P hit New Highs Read More
The Anson County Board of Commissioners in North Carolina has unanimously approved a conditional use permit to allow Davis Family Homes to locate a manufactured and modular home sales center in Peachland, in south central NC. Currently zoned R-20 residential, the variance will allow a change to HI, heavy industrial,
Property Rezoned for Manufactured, Modular Home Sales Read More
Responding to an article in the Clarion-Ledger newspaper in Jackson, Mississippi in which Mississippi Insurance Commissioner Mike Chaney says, “manufactured homes…are not built to any code,” Manufactured Housing Association for Regulatory Reform’s (MHARR) Danny Ghorbani strongly disputes that claim. He says, “Manufactured homes that are designed and built to be
Ghorbani Responds to Erroneous News Article about Manufactured Housing Read More
The Whitefish (Montana) City-County Planning Board, unable to conduct business last month because a quorum was not achieved, will consider a conditional-use permit request from the Whitefish Christian Academy to install four modular classrooms, MHProNews has learned. A growing student population will utilize the units until a permanent facility is
Christian Academy Requesting Modular Classrooms Read More
MHProNews.com has learned Newcastle Investment Corp. (NYSE:NCT) completed the sale of its manufactured housing portfolio that had a face amount of $222 million and was sold at 104 percent of par, $231 million. Part of the proceeds will go towards $152 million in debt expense, says businesswire.com. Newcastle received total
Newcastle Divests itself of Manufactured Housing Portfolio Read More
Following a story MHProNews posted April 29, 2014 regarding postponement of the mark up of the housing finance reform bill by the Senate Banking Committee, nationalmortgagenews.com reports the bipartisan legislation by Senators Tim Johnson (D-SD) and Mike Crapo (R-ID) will be voted on by the committee on Thursday, May 15.
Senate Panel to Vote on Johnson-Crapo Measure Read More
Writing in nationalmortgagenews.com, Brad Finklestein refutes the notion advanced by opponents that affordable housing caused the mortgage crisis. Borrowers in all income groups ran into problems, although those of more modest means got hit the hardest and likely have had a harder time recovering. But as MHProNews understands, the bottom
Affordable Housing Blocking Mortgage Reform? Read More
The Wisconsin State Legislature pushed thru sales tax breaks for three specific industries, according to the non-partisan Legislative Fiscal Bureau, as reported by beloitdailynews.com. One of them is the Wisconsin modular homes manufacturing industry, which will realize a savings totaling about $980,000 per year, MHProNews.com has learned. Without the tax
Sales Tax Removed from Wisconsin Produced Modular Homes Read More
Investors weighed in on the Big Board, kicking the week off swiftly as the Dow Jones Industrial Average steadily increased all day to close at a new high, 16,695.47, gaining +112.13 points, +0.68 percent. The tech-heavy Nasdaq posted a 71.99 point gain, +1.77 percent, to end the day at 4,143.86,
UFPI, Cavco Register Gains; Dow and S&P Post New Highs Read More
Since year one of the Obama administration, the number of businesses failing outnumber the businesses being created for the first time in recent memory, according to Ray Hennessey, writing in entrepreneur.com about data collected by the Brookings Institution. While Brookings does not point to any particular culprit, Hennessey says its
Brookings Institution reports Negative impact on Business Since 2008 Read More
Anchorage, Alaska’s comprehensive plan recognizes manufactured housing as an affordable option, but Anchorage 2020, as it’s called, does not protect manufactured housing communities (MHCs) from redevelopment, resulting in the loss of nearly 500 housing units since 2000. The replacement dwellings are less dense, and with the slowdown in production of
Affordable Housing Being Challenged in Anchorage Read More
The Manufactured Housing Institute (MHI) extends a welcome to the following new members this year: Advanced Distributor Products LLC Carefree Homes, Inc. CBRE National MHRV Team Mission Peak Capital Parkbridge Lifestyle Communities PayLease Pleasant Valley Homes, Inc. Purchasing Platform Steel Dynamic Structural Rail Division ##
New Members at the Manufactured Housing Institute Read More
MHProNews.com has been informed by the Manufactured Housing Institute (MHI) that the U. S. Department of Housing and Urban Development (HUD) has proposed to increase the label fee from $39 to $100 to help defray the program costs due to a reduction in production since the fee was last raised
HUD Raising Label Fee for Manufactured Housing to $100 Read More
The ReHome Oregon project has sited the first of what may be dozens of new manufactured homes (MH) to replace dilapidated, failing homes in Curry County where 604 of 3,876 MH are in poor condition. Recognizing the importance of social networking among the residents of the homes, officials did not
Oregon Replacing Old Manufactured Homes with New Ones Read More
The Manufactured Housing Institute (MHI) informs MHProNews.com the House Financial Services Committee adopted, by voice vote, the Preserving Access to Manufactured Housing Act (H.R. 1779). Although the measure will not be formally approved until a recorded vote is taken, which is expected to occur the week of May 19th, the
House Financial Services Committee Voice Votes “Yes” to H.R. 1779 Read More
The Dow Jones Industrial Average rose to a new all time high to end an up and down week on the Big Board. CNNMoney reports the Dow gained 32.37, +0.20 percent, to close at 16,583.34. The Nasdaq also ended the week on a positive note, gaining +20.37 points, +0.50 percent
Dow Hits New High; UMH Properties Edge up Read More
UMH Properties, Inc. reports total income for the first quarter of 2014 rose to $15,849,000 from $13,426,000 for the same period of 2013, resulting in income of $6,559,000 in 2014 over $5,695,000 in 2013, according to marketwatch.com. Based in Freehold, New Jersey, the company reports core funds from operations attributable
UMH Properties Reports Income Increase for First Quarter 2014 Read More
