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.
The tri-parishtimes informs MHProNews that alleged overpayments to several staff members and other wrongdoing by the Morgan City Housing Authority (MCHA) in Morgan City, Louisiana may be investigated by the Dept. of Housing and Urban Development (HUD), which would likely forestall a planned modular public housing community. Federal civil service […]
Alleged Funds Mismanagement may Mar Affordable Mods Read More
MarketWire informs MHProNews the board of directors of Innovative Composites International, Inc. (ICI) has appointed Mark Rivers to serve as vice-chairman and interim CEO of the company, replacing Terry Ball, the previous CEO who has taken on the mantle of President and Chief Operating Officer (COO). ICI manufactures proprietary engineered
Innovative Composites International has New CEO Read More
MHProNews has learned from KRZK-FM the Forsyth Board of Aldermen in Forsyth, Missouri have been asked by city Fire Chief Nathan Bower to clarify the town’s manufactured housing regulations. The city attorney was directed to revise the ordinance so it will differentiate between a manufactured and a modular home. Forsyth
City Needs to Distinguish between HUD Code and Mod Read More
Responding to news that housing prices recorded the biggest increase since 2007 and a consumer confidence reading marking a five year high, CNNMoney reports the Dow Jones Industrial Average hit a new record, surging 106.29 points, +0.69 percent, to close at 15,409.39. The Nasdaq gained +0.86 percent, +29.75 points, to
Housing Market Rise Spurs Dow to New High Read More
MHProNews has learned from lincolnite.co.uk JR Pickstock Group and Elements Europe are building a 120 room modular student housing complex in Lincoln, United Kingdom, north of London. The seven-floored project will include studio apartments, cluster rooms and “buddy rooms” as well as a coffee shop on the ground floor. Modular
Modular Complex will Complete in 24 Weeks Read More
The Delaware Manufactured Home Relocation Authority (DMHRA) would be the agency to enforce legislation now pending in the state house, SB 33, that would require MHC owners to seek approval for rent increases beyond a certain limit. It is now the target of a class action suit brought by three
Lawsuit Contends State Lost Authority to Collect Fees Read More
From the Manufactured Housing Institute (MHI)’s newsletter MHProNews learns Rep. Blaine Luetkemeyer (R-MO), a member of the House Financial Services Committee, has introduced the Community Lending Enhancement and Regulatory Relief Act (CLEAR Act). H. R. 1750 is designed to help smaller financial institutions obtain capital and provide loans to their
Legislative Update—U.S. House of Representatives Read More
The washingtonpost informs MHProNews seniors whose income does not qualify them for a mortgage or refinancing a home under current tight credit, may now have more income for purposes of underwriting: Due to a rule change by the top home lenders, borrowers may now use retirement assets to improve their
Extending Loans to Boomers Read More
According to what Trulia tells MHProNews, based on housing starts, existing home sales, and the delinquency/foreclosure rate, the housing market is 54 percent back to normal. April housing starts dropped to an annualized rate of 853,000, down 16 percent from March to the lowest level since Nov. 2012, putting it
Housing Recovery Still on Track Read More
Following a story we first published March 21, 2011 concerning the possible closing of Sunset Village MHC in Glenview, Ill. by Capital First Realty, and its subsequent placing in the hands of a court-appointed receiver as we reported July 2, 2011, it has now emerged from federal bankruptcy, according to
Sunset Village on Track to Flourish Again Read More
The lancashiretelegraph reports from Great Britain four modular homes will be the first of their kind in the country when they are installed this summer in the city of Blackburn in Lancashire County. Commissioned by social housing firm Twin Valley Homes, and constructed at manufacturer Easybase Home Ltd’s factory, each
Affordable Modular Homes Hit the UK Read More
The stock markets are closed today in observance of Memorial Day. (Photo credit: Wikipedia)
U. S. Stock Markets Closed Today Read More
Allison Arieff says in The New York Times, in addition to the 1,500 modular apartment units at the 32-story Brooklyn Atlantic Yards and the ten-story micro modular apartments with 55 units being designed by nArchitects in Manhattan, GRO Architects is constructing over 300,000 square feet of modular housing in Baltimore
Modular Multifamily Housing Growing in Urban Areas Read More
Rep. Nathan Ramsey of the North Carolina House of Representatives has introduced a bill that would restrict counties from limiting the siting of manufactured homes, as natlawreview informs MHProNews, saying the measure is necessary to enlarge the inventory of affordable housing. House Bill 769 would allow MH to be located
Measure Supports MH as Affordable Housing Read More
The National Association of Home Builders (NAHB) reports HUD and Census Bureau figures show sales of newly-built single-family homes rose 2.3 percent in April to a seasonally-adjusted annual rate (SAAR) of 454,000 homes. “Today’s report is further evidence of the gradual, consistent improvement we have been seeing in housing market
New Home Sales Post Increase Read More
Investors stepped back from the market today, anticipating how life will be when the Federal Reserve ends its asset purchasing, which may happen later this year. Meanwhile, CNNMoney reports the Dow Jones Industrial Average nudged up +0.06 percent, +8.6 points, to close at 15,303.10. The Nasdaq lost -0.01 percent, -0.28
Three Indexes Just Budge; Tracked Housing Stocks Mostly Fall Read More
Updating a story MHProNews first covered Sept.16, 2011 and last covered Dec. 17., 2012 regarding modular housing for Canada’s Lake St. Martin First Nation which has been flooded out since spring, 2011, the brandonsun reports the Canadian government and tribal leaders have finally agreed on a site. Located just under
New Homesite Planned for First Nation People Read More
According to globenewswire, Cavco Industries, Inc. reports net income before taxes for the fiscal fourth quarter 2013 was $3 million, up from $2.9 million from the same period last year including a $1.2 million tax benefit from the acquisition of Palm Harbor. Net revenue rose 9.4 percent for fiscal Q4
Cavco Releases Quarterly and Annual Financials Read More
Following MHProNews story line from Wed, May 22 about legislation in Iowa, Joe Kelly of the Iowa Manufactured Housing Association (IAMHA) tells us the House has passed property reform tax bill SF 295 that will treat apartments, MHCs and nursing homes the same as residential property. Effectively, beginning with taxes
Legislative Update—Iowa Read More
The Wall Street Journal informs MHProNews three senior executives at Sam Zell’s Equity International (EI) real estate company resigned this week on the heels of the head of capital markets departure, as well as co-founder of the fund and CEO Gary Garrabrandt, who left last Sept. Chief Operating Officer Ira
Execs Depart Zell’s Equity International Read More
