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.
Updating a story MHProNews.com first posted Feb. 13, 2014 regarding a proposal for a modular housing community in Medicine Hat, Alberta, Canada, the city council remains divided on the project. While property owner representative John Hashem says the land has been vacant since 1976, other plans have not materialized and …
Modular Housing Development to be Voted on April 7 Read More
Following up on a post MHProNews published March 28, 2014 regarding raw sewage allegedly being dumped on the grounds of the Cortland MHC, the Illinois Department of Public Health (IDPH) has joined the Illinois Environmental Protection Agency (IEPA) in seeking legal action against the community owners for violation of the …
Illinois Dept. of Health Joins Legal Action over Manufactured Home Community Read More
A sell-off in tech stocks, especially Amazon and LinkedIn, set the Nasdaq back 2.60 percent and the Dow and S&P each fell around one percent, as investors retreated from the dance floor. The Dow Jones Industrial Average lost -0.96 percent, -159.84 points, to end the first week of the month …
Nobility Homes Plummets; Tech Stocks Drop Nasdaq 110 Points Read More
A carpet cleaner in Springfield, Virginia blames Yelp.com for a rash of alleged fraudulent negative reviews that owner Joe Hadeed claims reduced his business by 30 percent. He narrowed down the anonymous complaints to seven, based on time frame, sales data and location, and sued them in July, 2012 for …
Consumer Online Reviews: Fairness Colored by Free Speech? Read More
While MHProNews reported here April 1 that Universal Forest Products,Inc. (UFPI) acquired Upshur Forest Products, LLC in Gilmer, Texas, menafn.com says one of UFPI’s subsidiaries has purchased assets of High Level Components LLC in Locust, North Carolina, a deal that closed March 31, 2014. High Level will become part of …
The Manufactured Housing Association for Regulatory Reform (MHARR) informs MHProNews that official statistics compiled by the Department of Housing and Urban Development (HUD) reveal production of HUD Code homes in February grew five percent over February, 2013, 4,361 homes over 4,151. Cumulative totals for 2014 hit 8,766 homes versus 8,393 …
Manufactured Housing Production Continued Growing in February Read More
Aetrium Incorporated has acquired all the assets of KBS Building Systems, Inc. of South Paris, Maine for $5 million cash, a $5.5 million six-month promissory note and the assumption of approximately $1.4 million debt, according to marketwatch.com. KBS manufactures and distributes modular housing units for residential and commercial applications. MHProNews …
New England Modular Builder Acquired by Aetrium Inc. Read More
The Dow Jones Industrial Average and the S&P closed just across the line in negative territory while the Nasdaq fell -0.91 percent, -38.72 points, falling to 4,237.74. The Dow edged down -0.45 points, -0. percent, to end at 16,572.55. The S&P dropped -2.13 points, -0.11 percent to finish the day …
Patrick Industries Falls 3.54 %; Dow and S&P mostly flat Read More
A survey of Portland, Oregon by the National Low Income Housing Foundation of Washington, D. C. revealed that a breadwinner working a minimum wage job in the Portland area would have to work 78 hours to be able to afford a market rate two bedroom apartment. More and more people …
Modular Apartments Provide much needed Affordable Housing Read More
Similar to the same event in nearby Massachusetts, as MHProNews reported March 28, 2014, the Rhode Island Home Show will feature a 2,800 square foot modular home assembled on site inside the Convention Center in Providence beginning Thursday, April 3. The team began working at 6 AM Monday and worked …
Drew Industries, Inc. (NYSE:DW) Director and Chairman Leigh J. Abrams sold 5,000 shares of the company in a listing dated March 31, 2014, according to a filing with the Securities and Exchange Commission (SEC). Sold at an average price of $54.05 for a total of $270,250, leaving him with 61,236 …
The Mortgage Bankers Association (MBA) weekly survey of mortgage applications for the week ending March 28, 2014 reveal a drop of 1.2 percent, MHProNews has learned, while the Refinance Index fell three percent from the previous week. The refinance share of mortgage activity declined for the eighth consecutive week to …
Mortgage Market Sees Modest Movement in Loans and Apps Read More
Updating a post MHProNews last published May 27, 2013 regarding plans for a 55-unit micro modular apartment building in New York City, the project has begun, with M&T Bank putting up $10.3 million of the $16.6 million project, and the remainder from developer equity and a loan from the New …
State representative Marty Moylan of Illinois, after hearing residents of manufactured housing communities (MHC) in his Illinois district complain of water rates and leases that prevent them from suing community owners over disputes, introduced HB4123, which he calls a “bill of rights” for MHC residents. The measure would require residents …
“Bill of Rights” for Manufactured Home Community Residents Read More
While modular residential design has gone from tree houses to single-family on land to the 34-story modular apartments underway in the Brooklyn Navy Yards, architects at Atelier SAD have developed Port X, a modular home that can be sited on terra firma or put to sea as a floating home. …
The S&P hit a new high for the second day in a row, closing at 1890.90, up 5.38 points from yesterday, adding +0.29 percent. Meanwhile, the Dow Jones Industrial Average rose +40.39 points, +0.24 percent, to end at 16,573.00. The Nasdaq nudged up +0.20 percent, +8.42 points, to finish the …
S&P Reaches another High Point; UFPI Gains, Patrick Falls Read More
MHProNews.com has learned the board of directors of manufactured housing community owner UMH Properties, Inc. (UMH) has declared a quarterly cash dividend of $0.18 per share of the company’s common stock effective June 16, 2014 to shareholders of record May 15, 2014. Additionally, on April 1 the board declared a …
UMH Properties Declares Dividends for Preferred and Common Stock Read More
A new automation project for the rental industry allows tenants to unlock/lock their doors, set thermostats and lights and control appliances from anywhere with their smartphone. As 9news.com informs MHProNews.com, Denver-based Rentbits’ program, called Remotely, can also pay rent and arrange maintenance work. From the landlords’ perspective, the technology can …
According to seekingalpha.com, Berkshire Hathaway’s stock (BRK.A) (BRK.B), is undervalued by 15 percent as it continues to generate solid performance from its business units and its marketable securities. Having bought up many desirable investment opportunities in the marketplace, the company will not continue to garner the 19.8 percent returns it …
Updating a story MHProNews.com posted Nov. 18, 2013, regarding property specialist Ingenia Communities’ acquiring more manufactured housing communities (MHCs) in Australia, theage.com.au reports the company has doubled investors’ money. Ingenia’s head, Simon Owen, says, “We are targeting the lower to middle market, which is people reliant on the pension to …
Aussie Firm sees Big Returns from Manufactured Homes Read More
