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 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
MHProNews.com has learned from kwch.com in Wichita, Kansas that thieves broke into a model manufactured home in South Wichita and made off with the entire kitchen, including the sink. The side-by-side refrigerator, dishwasher, glass-top range, including the range hood and under counter microwave, cabinets and the sink were all taken
Clayton Homes Model Stripped by Thieves Read More
Sam Zell, chairman of Equity LifeStyle Properties (ELS) and Equity Residential (EQR), says homeownership may continue to fall as low as 55 percent because so many Americans are postponing marriage and having children. According to Census Bureau data, the homeownership rate dropped from 65.2 percent in Q4 2013 to 64.8
Sam Zell: Homeownership will Continue to Fall Read More
Tim Mander, Minister for Housing and Public Works of Queensland, Australia, attended forums at two manufactured home communities (MHCs) to discuss the Newman government’s review of the Manufactured Homes Act 2003 and the Retirement Villages Act 1999. Member of Parliament (MP) Andrew Powell hosted Mr. Mander at Maleny Grove Retirement
Aussie Housing Minister Addresses MH Community Residents Read More
Home Repair Loan and Grant programs under Rural Development of the United States Department of Agriculture (USDA) target low income families and individuals with low-interest loans, and can only be used to remove health or safety hazards for applicants’ homes. The program includes those living in manufactured homes (MH) providing
Low Interest Loans Available to owners of Manufactured Homes Read More
In a far-ranging interview with MHProNews publisher L. A. “Tony” Kovach, Clayton Homes founder Jim Clayton discusses his path from acquiring his first mobile home, when he initially realized the profits of manufactured homes over cars, to the concept of vesting company employees with ownership rights and responsibilities. Armed with
Jim Clayton Interview with L. A. “Tony” Kovach Read More
Stocks had a solid day today as investors anticipate what will come out of the two-day Federal Reserve meeting that ends Wednesday, regarding the Fed’s intentions going forward. The Dow Jones Industrial Average moved up +86.63 points, +0.53 percent, to finish at 16,535.37. The Nasdaq advanced +29.14 points, +0.72 percent,
Affiliated Managers Group Spikes over Nine Percent Read More
Following a story MHProNews posted yesterday regarding the planned markup Tue., April 28 by the Senate Banking Committee of housing finance reform that includes provisions supportive of the manufactured housing industry, that discussion has been postponed. In an Action Alert from Manufactured Housing Institute (MHI) Chairman Nathan Smith said, while
Markup of Housing Finance Reform on Hold Read More
Following a story we first posted Feb. 20, 2014, regarding plans for expansion, MHProNews.com has learned that Ashland Holdings, LLC of Wildwood, Florida has completed the renovation of its Great Plains Holdings Headquarters, which will also alleviate the $12,000 annual storage expense for its sister company, Lil Mark, Inc. In
Ashland Expanding into Land Lease Community Ownership Read More
North of the border in Saskatoon, in Central Saskatchewan, Canada, 27 modular homes built in 2010 by Lethbridge’s Triple M Housing are alleged to virtually all have water problems—either leaky basements, roofs, or windows, sometimes more than one. Having changed its name to Vantage Developments, the company says the warranties
Modular Homes have Leaky Problems Read More
