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 investors worry when the Federal Reserve may reduce it’s stimulus program, the government reports jobless claims dropped by 15,000 and the consumer price index rose only two percent, but the Dow Jones Industrial Average fell 225.47 points on disappointing earnings reports from Wal-Mart and Cisco. CNNMoney reports the Dow …
Cavco, Patrick Lead Stocks We Track, as Dow Drops Precipitously Read More
The owner of a manufactured housing community (MHC) in Mansura, Louisiana may be charged with violating ordinances governing communities. At a meeting of the Mansura Town Council, the city inspector said the violations include the lack of skirting and porches on the homes, and the absence of a fence around …
Ordinance Violations at Manufactured Housing Community? Read More
The National Community Council’s Fall Leadership Forum will be held Oct. 16-18, 2013 at the W. Chicago City Center Hotel. Titled “Building a Vision for the Future,” Sam Zell, Chairman of Equity Group Investments and Equity International, which own Equity LifeStyle Properties, will be the featured speaker at the conference. …
Zell to Speak at National Communities Council Forum Read More
Builder confidence for new, single-family homes rose three points to 59, according to the National Association of Home Builders (NAHB) Wells Fargo Housing Market Index (HMI), bringing the index to its highest mark in almost eight years. Any number over 50 is rated as “good”, MHProNews has learned. The index …
The city of Saco in southern Maine near the Atlantic Ocean is partnering with the Biddeford Housing Authority to develop modular homes on a donated three acre parcel of land for seniors who are seeking to downsize. Because the land has an industrial past going back to the 19th Century, …
It will more expensive for lenders to do business with the Federal Housing Administration (FHA) if a new method for determining lenders’ liability for poorly written loans that default is adopted. Currently, when defects are discovered lenders have to eat the losses on those loans. Under the new proposal, FHA …
According to Jim Gaines from the Real Estate Center at Texas A&M University, the population of Texas is anticipated to increase to 30 million by 2050, a gain of nearly 120 percent, which will require 10.5 million additional housing units. The Dallas-Fort Worth area is expected to grow 163 percent …
Updating a story MHProNews posted Tue., Aug 13, concerning the state house’s passage of a rent control measure for the four manufactured housing communities in Acushnet, Massachusetts, Rep. Robert M. Koczera (D-New Bedford) says, “I have every reason to believe it will become law.” It now goes to the Senate …
Investors were busy speculating as to when the Federal Reserve will taper its stimulus program and the three major indexes responded by sliding down. CNNMoney reports the Dow Jones Industrial Average dropped -113.35 points, -0.73 percent, to close at 15,337.36. The Nasdaq fell -0.41 percent, -15.17 points to end the …
Three Major Indexes Fall from Investors Neglect; Most Tracked Housing Stocks Fall Read More
Seven new members have been elected to the RV/MH Hall of Fame Board of Directors at their recent board meeting, according to Board Chairman Barry Cole. The new members are: Dick Jennison, Manufactured Housing Institute; Joe Stegmayer, Cavco Industries; Mark Wasson, Bluelinx Corp.; Mick Ferkey, Greenway RV; Dana Nelson, RV …
Nuclear power plant construction and building aircraft carriers utilize the same methods as modular home construction. Ron Jones, of South Carolina’s energy company SCE&G says, “When modules are built for a home assembly, the pipes, conduit, etc. are already in there. It’s not just walls and floors. It’s the same …
Modular Homes and Nuclear Power Plants have Common Building Techniques Read More
Residents of the Pan and Fork manufactured housing community in Basalt, Colorado, just northwest of Aspen will be compensated for relocating due to a redevelopment project slated for their community. The town, which co-owns the property with the non-profit Roaring Fork Community Development Corporation, needs to do flood mitigation and …
Manufactured Housing Residents to Receive Relocation Expenses Read More
Rapoza Associations reports nearly 30 percent of all rural households, which covers some 7.3 million families, are either unaffordable, overcrowded or substandard. Over 47 percent of all rural households are spending more than 30 percent of the their income on rent, which classifies them as cost-burdened; and almost 50 percent …
The momentum of the housing recovery, despite tight credit, rising prices and low inventory, is in its early stages of recovery, and panelists at the Bipartisan Policy Center’s conference say the Federal Reserve’s bond-buying program should continue. “There is a cyclical and structural nature to the problem,” reports Paul Weech …
Top managers of Greensboro, North Carolina-based Phoenix Housing Group (PHG), a manufactured and modular housing retailer in North and South Carolina, have been charged with selling more than 1,100 homes in North Carolina financed with fraudulently-secured government backed loans, resulting in millions of dollars in losses to federal loan programs. …
Carolina Lender Closed due to Fraudulent Activities Read More
All three indexes advanced modestly but the bigger stories concerned Apple, J.C. Penney and the suit field by the Justice Department to block the $11 billion merger of U. S. Airways and American Airlines. CNNMoney reports the Dow Jones Industrial Average nudged up +31.33 points, +0.20 percent, to close at …
Most Tracked Housing Stocks Fall; Three Major Indexes Advance Read More
Residents at Brookside Mobile Home Park complaining about rising rents in their community has led to a state bill authorizing rent and eviction control rules in Acushnet, Massachusetts. Town Meeting members approved a home rule petition in June, 2012 that established a rent control board to oversee the town’s four …
Housing affordability slipped nationwide as home prices in recovering markets rose during the second quarter, according to the National Association of Home Builders (NAHB) Wells Fargo Housing Opportunity Index (HOI). Of all new and existing homes sold in the first quarter of 2013, 73.7 percent were affordable to families earning …
Updating a story MHProNews posted April 17, 2013 regarding two Vermont schools competing in the U. S. Department of Energy’s Solar Decathlon in California October 3-13, a send-off event is slated at the Statehouse in Montpelier for the teams and their modular homes Sept. 10. Two of only 20 student …
In its National Delinquency Survey, the Mortgage Bankers Association (MBA) reports homes across the country in some type of financial distress fell in the second quarter to 10.1 percent from 11.6 percent a year ago. Nationwide the average foreclosure rate was 3.3 percent in Q2 2013, although Florida hit the …
