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.
CNNMoney tells MHProNews some industry experts forecast the housing recovery may not last. While home prices have risen eight percent, investors are driving the surge, taking advantage of low interest rates and depressed home prices. When rates and home prices rise, the recovery may stall, especially as investors receive a […]
Housing Recovery? Perhaps Not Read More
MHProNews has learned from WWLP-22 in Northampton, Mass. one man was killed and two others were injured when one of two modular units shifted while the workmen were connecting the two modules, pinning two of the men. Alfred Cabiya died at the scene, but one of the other men had
One Man Dies when Modular Unit Shifts Read More
Wired tells MHProNews the Dutch city of Nijmegen is collaborating with over 20 architects to provide a range of 29 modular flat pack affordable homes for first-time homebuyers. Targeted to those with annual incomes of $40,000 to $60,000, the stylish designs are far better than the block homes that were
Modular Affordable Homes for the Dutch Read More
Stocks slid for a second consecutive day on tepid news from the technology and financial sectors, which some are terming an “overdue sell-off,” as all three major indexes nudged downward. CNNMoney reports the Dow Jones Industrial Average fell -0.56 percent, -81.45 points, to end the day at 14,537.14. The Nasdaq
UFPI Registers Significant Gain; Three Major Indexes Fall Read More
Following up on a story MHProNews posted April 17 concerning residential rental property in the Iowa legislature that would provide a tax break for manufactured housing communities, Joe Kelly of the Iowa Manufactured Housing Association (IAMHA) says the House rewrote SF 295 that the Senate had passed and returned it
Iowa Legislature Weighs MHC Tax Reform Read More
The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) survey reports builder confidence dropped two points to a composite score of 42 in March as concerns over rising material costs, tight credit, shortages of skilled labor and available lots nag at the market for newly built, single-family
Builders’ Confidence Wanes Read More
According to nationalmortgagenews, bankers were relieved when the Consumer Financial Protection Bureau (CFPB) released its qualified mortgage rule (QM) in January, which gives the lender protection if a borrower defaults. But now some bank executives are hesitant to make loans outside the QM rule, and worry they could be rapped
Are Loans Unsafe Outside QM? Read More
According to BusinessWire, Universal Forest Products, Inc. (UFPI), in noting the best first quarter profits since 2006, reports net sales of $554.5 million for the first quarter of 2013, up 21.3 percent over the same period 2012. Net earnings of $5.2 million for Q1 represent an increase of 25.7 percent
UFPI reports best 1st Quarter Profits in Seven Years Read More
A series of poor corporate earnings led to a broad sell-off by investors, as the Dow fell by over 100 points and the other two major indexes dropped as well. CNNMoney reports the Dow Jones Industrial Average fell -138.19 points -0.94 percent, to end the day at 14,618.59. The Nasdaq
Stock Sell-Off Drops Most Tracked Housing Stocks, Three Major Indexes Read More
Architectural Record notifies MHProNews on May 9 the magazine in conjunction with the Architectural League of New York will host a panel discussion about the most recent developments in the design of modular multi-unit housing. Set for 7:00 PM at the McGraw Hill Auditorium, 1221 Avenue of the Americas in
Symposium on Modular Housing Set for New York City Read More
Joe Kelly of the Iowa Manufactured Housing Association (IAMHA) informs MHProNews the Iowa Senate has passed SF 295, a property tax credit system comparable to how the homestead credit system works. Commercial tax payers have to make a one-time application. The fund begins at $50 million, and increases each year
Iowa Legislature Considering Property Tax Amendment Read More
SevenDaysVermont tells MHProNews two small Vermont schools will be competing against 18 mostly larger schools in the U. S. Dept. of Energy’s biennial Solar Decathlon to be held in October at Irvine, Calif. While this will be Norwich University’s first trip to the competition, Middlebury College placed fourth in its
Modular Homes from Vermont Schools in Solar Decathlon Read More
PrairieBizMag reports from Grand Forks, ND, not long after a Blue Ribbon Commission on Housing determined the city has a housing shortage, especially affordable housing, plans for new developments have been announced and a home-buyers assistance program has been created for the city. The commission determined the housing shortage was
Modular Homes to Meet Affordable Housing Needs Read More
The Texas Manufactured Housing Association (TMHA) informs MHProNews that the House Urban Affairs Committee of the Texas Legislature voted in support of HB 2954. Administered by the Manufactured Housing Division of the Texas Dept. of Housing & Community Affairs, the measure would establish a down payment assistance program for manufactured
Bill would Offer Down Payment Assistance for MH Buyers Read More
MarketWatch informs MHProNews manufactured and modular home builder Deer Valley Corp.’s wholly-owned subsidiary, Deer Valley Financial, Inc., (DVF) has entered an agreement to provide CIS Home Loans with a $2.5 million line of credit to increase its portfolio of retail mortgages for buyers of manufactured and modular homes. This will
Loans more Available for Factory-built Home Buyers Read More
MHProNews has learned from the National Association of Home Builders that House Resources Committee Chairman Rep. Doc Hastings (R-Wash.) has drafted legislation that would increase timer production on federal lands which in turn would help maintain healthy forests. Justin Wood, vice president of construction for Fish Construction NW Inc., based
Rising Wood Prices could Hamper the Housing Market Recovery Read More
As MHProNews has learned from CNNMoney, the seasonally-adjusted annual rate (SAAR) of housing starts topped one million in March for the first time since June 2008, 1.4 million, seven percent better than Feb. 2013 and a 47 percent improvement since last March, primarily attributable to the growth in multifamily construction
New Home Construction Tops One Million Read More
The stock market rebounded from the explosions at the Boston Marathon and the downturn in the Chinese economy that set the stage for the worst one-day sell-off this year, as each of the three indexes gained over one percent, in part on positive news from the housing industry. CNNMoney reports
Stock Market Bounces Back from Tough Day April 15 Read More
NationalMortgageNews informs MHProNews the composite index default rate for first time mortgages gained five basis points from February, 2013 and a 46 basis point improvement from March a year ago, according to S&P/Experian Consumer Credit Default Indexes. The composite index for first mortgage loans ended March at 1.41%, compared to
Mortgage Default Rate Falls Read More
MHProNews has learned from the National Association of Home Builders (NAHB) figures released by HUD and the Census Bureau indicate total housing starts—single-family and multifamily– rose by seven percent in March, propelled by a 31.1 percent increase in new multifamily construction. As we have reported several times earlier, the rental
Multifamily Starts Still Strong Read More
