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.
NapaValleyRegister informs MHProNews John Tuteur, assessor in Calistoga, Calif. clarifies the difference in how owners of manufactured homes pay taxes. Homes that were installed before June 30, 1980 are dunned $16 per year for an in-lieu property tax, much like an automobile registration. Approximately 405 of the 523 factory-built homes …
From HousingWire comes news that all 12 Federal Reserve districts indicate the economy is growing, at least moderately, in their areas, according to the Beige Book. Loan demand grew in New York, Chicago, Dallas, and Atlanta but fell slightly in St. Louis. While posting a modicum of growth in loan …
CNNMoney informs MHProNews the president of the Federal Reserve Bank of Minneapolis, Narayana Kocherlakota, says the Fed should do more to lower the unemployment rate. “I would say that my outlook for unemployment and my outlook for inflation both point to a need for more accommodation than is currently being …
NationalMortgageNews reports on a seasonally adjusted basis, purchase applications rose 13 percent over the week ending Jan. 4, but are up 47 percent on an unadjusted basis, their highest level since April 2011, according to the Mortgage Bankers Association (MBA). Noting home sales burgeoning in Calif. in Dec. because of …
Investors concerns about the debt ceiling and the global economy were reflected in U.S. stocks and the three major indexes which closed mixed today. CNNMoney reports the Dow Jones Industrial Average edged down -0.17 percent, -23.66 points, to end the day at 13,511.23. The Nasdaq gained +0.22 percent, +6.76 points, …
Most Tracked Housing Stocks Dip; Three Major Indexes Mixed Read More
According to phx.corporate, Southfield, Mich.-based Sun Communities, Inc. will release its quarter four 2012 earnings report prior to the opening of the market on Thursday, Feb. 21, 2013. A conference call to discuss operating results will be held that same day at 11:00 AM (EST). A replay will be available …
StreetInsider reports small-cap equity research provider Sidoti has upgraded Drew Industries (NYSE: DW) from neutral to buy with a price target of $47.00. With a 52-week range of 24.48 to 34.81, shares of Drew closed yesterday at 34.81. As MHProNews knows, Drew Industries supplies the manufactured housing and recreational vehicle …
The National Association of Home Builders (NAHB) reports the market for newly built, single-family homes remained at 47 on the Wells Fargo Housing Market Index (HMI) for Jan., following eight consecutive monthly gains. As MHProNews has learned, the HMI is at its highest point since April 2006, right before the …
According to Consumer Bankers Association CEO Richard Hunt, financial industry leaders and bankers are saying the Consumer Financial Protection Bureau’s (CFPB) bank examiners are inexperienced, inefficient and take up to nine months to score routine audits, which interferes with lending. As the olympian tells MHProNews, if lenders create a new …
The inyoregister reports the board of supervisors of Inyo County in eastern Calif. will consider repairing two modular homes the Inyo County Sheriff’s Dept. purchased to house resident deputies in the town of Shoshone, near the Nevada border. The Inyo County Public Works Dept. proposes to use the county building …
DigitalJournal informs MHProNews Chicago-based Zeman Homes has acquired the former Touhy Mobile Home Park in Des Plaines, Ill. and renamed it Blackhawk Estates. With over 30 communities in Illinois, Indiana and Michigan, Zeman has added 496 homesites with this acquisition. Normally the company offers homes for rent and for sale, …
Investors continue to stand on the outskirts of the dance floor, awaiting corporate returns, as the Dow moved up one-fifth of one percent in today’s trading, while the Nasdaq and S&P split the difference. CNNMoney reports the Dow Jones Industrial Average nudged up +0.20 percent, +27.57 points, to end the …
All but Two Housing Stocks we Cover Gained or was Unchanged Read More
The Nevada Division of Housing, which oversees affordable housing and provides low interest mortgages and down payment assistance to eligible candidates, has a new administrator. Jim deProsse, formerly the head of the Nevada Manufactured Housing Division, will assume his new position Jan. 22. As lasvegassun tells MHProNews, the division also …
Iowa Manufactured Housing Association (IMHA)’s Joe Kelly has informed MHProNews that Lincoln Homes of Ogden, Iowa brought a Redman manufactured home and a Skyline modular home to the Iowa Home Show in Des Moines this past weekend. While other manufacturers were there, only Lincoln brought homes. Held at the Varied …
HousingZone reports Professional Builder magazine is collaborating with Palm Harbor Homes, IronTown Homes and Greenfab to build three energy efficient model homes for display at the International Builders Show in Las Vegas, Jan. 18-24, 2013. The Aurora is an all-electric home; the Admiral is a Craftsman-style home that has a …
Two new Industry in Focus reports drew cheers from numerous industry business and association leaders from coast to coast. Sources close to George F. Allen and Danny Ghorbani whispered they met the reports with jeers – and in concert with their close knit group of cross-promoters – are already discussing …
Speaking at the University of Michigan’s Ford School of Public Policy, HousingWire reports Federal Reserve Chairman Ben Bernanke defended the Federal Open Market Committee’s open-ended quantitative easing, saying holding interest rates down keeps budget debts lower. Raising rates would complicate Congress’ upcoming budget negotiations. As MHProNews has learned, the committee …
According to HousingWire, CoreLogic offers the following housing scorecard for 2012: 4.2 million home sales, up from 3.9 million in 2011, a six percent increase; first year-over-year sales increase since 2005; REO (real estate-owned) house sales fell 20% to 600,000; new home sales rose three percent to 300,000; short sales …
NationalMortgageNews tells MHProNews Lender Processing Services (LPS) estimates 2.6 million Fannie Mae and Freddie Mac loans may yet be eligible for financing through the Home Affordable Refinance Program (HARP). 50 percent of these have credit scores of 720 or above, including 670,000 with interest rates above six percent. Since the …
Ten Million Borrowers Remain Eligible to Lower Rates Read More
The National Association of Home Builders (NAHB) reports framing lumber prices in random lengths hit $396 per 1,000 board feet Jan. 11, 2013, more than double the $193 price Jan. 23, 2008. As MHProNews has learned, this is substantially higher than the $316 price per 1,000 board feet recorded Oct. …
