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.
MHProNews has learned from BusinessWire, Universal Forest Products, Inc. (UFPI), component supplier to the manufactured housing industry, posted net sales for 2012 of $2.1 billion, 12.8 percent better than 2011. Net income for 2012 of $23.9 million more than quintupled the $4.5 million net in 2011. While net sales for […]
UFPI Income Quintuples over Prior Year Read More
In his take on the housing market, Benzinga reports billionaire real estate tycoon Sam Zell says there are 3-4 million houses in the market not for sale, not foreclosed on, and possibly unoccupied that need to be dealt with in order to have a strong housing market. Noting our society
Sam Zell on the Housing Market: It’s Going to be a While Read More
MHProNews has learned from RVBusiness that Sun Communities, Inc. has purchased ten recreational vehicle communities in seven states from Wis. to Maine for $111.47 million. Of the 3,700 sites, approximately 40 percent have RVs under annual rental contracts. Southfield, Mich.-based Sun—a real estate investment trust (REIT)–also acquired cottages and homes
Sun Shines on More Sun Read More
While investors focused on better-than-expected corporate returns, retail sales for January came in lower than expected, and some analysts do not think the market can go much higher without a break. CNNMoney reports the Dow Jones Industrial Average nudged down -0.26 percent, -35.79 points, to end the day at 13,982.91.
Major Indexes, Housing Stocks we Cover Rather Sluggish Read More
MyWestTexas reports plans for a proposed manufactured housing community for Midland, Tex. have been withdrawn by Brant Greathouse, co-owner of the planned Stone Bridge Estates after learning the Midland City Council was not planning on approving the zoning change request. Council members questioned whether a C-3 commercial district is appropriate
PRNewsWire reports CoveView Capital Partners, LLC has acquired all the assets of modular builder HandCrafted Homes, LLC of Henderson, NC. Paul Jarvis, the new President of HandCrafted Homes, says, “The infusion of new capital will allow us to fund growth initiatives as the housing markets begin to recover, and is
Modular Manufacturer Sold to Investment Firm Read More
The Ledger tells MHProNews residents of MHCs around Fla. are organizing to pressure the Florida Legislature into enacting legislation that would link rent hikes to the Consumer Price Index (CPI) in their communities when a home changes hands. Ed Green says the current system is a deterrent to people interested
Fla. MHC Residents Organizing to Change Rent Hikes Read More
InForum says Target Logistics’ fleet of modular man camps serving the Bakken oil field in western North Dakota are being sold for $625 million to Algeco Scotsman. The 3,400 units, located in Tioga, Williston, Watford City, and Dunn County, will continue with the Target name but a tag mentioning Algeco
Man Camps Change Hands Read More
PRNewswire informs MHProNews Drew Industries, Inc. has announced that President and CEO Fred Zinn will step down from his position effective May 10, 2013, and will be replaced by Jason D. Lippert, Chairman and CEO of Lippert Components and Kinro, Inc., Drew’s two subsidiaries. An executive officer since 1988, Mr.
Drew Draws New Leadership Read More
While U. S. stocks closed mixed for the day, investors were enough pleased with corporate earnings reports to send the Dow within 200 points of its all time high. CNNMoney reports the Dow Jones Industrial Average nudged up +0.34 percent, +47.46 points, to end the day at 14,018.70. The Nasdaq
Dow Nears Record; Drew and Patrick Move Up Read More
An article in NuwireInvestor refutes the charge in a Wall Street Journal piece from Dec. 11, 2012 that the manufactured housing market is declining while the site-built market is rebounding. Of the 50,000 MHCs in the nation, 45,000 serve as affordable housing for those who pay around $500 a month
The seattletimes reports with the 2012 median price of a house up seven percent since 2007, the Seattle Home Show will have its first full size home at the show in six years. Built by Fleetwood Homes, the 1,365 square-foot Rambler will take the place of 800 square-foot model homes
Home Show Features HUD & MOD Read More
the unionleader informs MHProNews an amended ordinance before the town board in Windham, NH would permit multi-unit housing, including duplexes, with less than seven units in Residence C district, which is currently zoned for manufactured housing. Another ordinance would limit boarding and rooming houses to the business district, while continuing
MH Will have Mixed Company Read More
TribLive tells MHProNews credit reporting agency TransUnion reports mortgage delinquencies have dropped to a four year low. The percentage of borrowers 60 days late fell to 5.19 percent in the last quarter of 2012, down almost 14 percent from the same period a year earlier. Prior to the housing downturn,
Mortgage Delinquencies Fall Read More
The National Association of Home Builders (NAHB) informs MHProNews builder confidence in the 55+ housing market for single-family homes grew by ten points in the fourth quarter 2012 versus the same period the year previous. NAHB’s Housing Market Index (HMI) measures builder sentiment based on current sales, prospective buyer traffic,
Senior Housing Market Looking Up Read More
AOLRealEstate reports a survey by Prudential Real Estate reveals 77 percent of the respondents 25-34 and 78 percent of those 35-44 see homeownership as very important as the recession fades into history. Eighty-five million Generation Xers and Millennials, many of whom were not impacted by the housing bubble, are generally
Home Ownership Sentiment Still Strong Read More
HousingWire reports the National Association of Realtors (NAR) says Q4 2012 witnessed the strongest year-over-year median home price rise in seven years. NAR’s chief economist Lawrence Yun says with the lowest unsold inventory of homes in 12 years, and the population growing faster than the housing stock, the existing median
Median Home Price Rises, Distressed Home Sales Drop Read More
With the Dow and S&P up nearly seven percent and the Nasdaq up almost six percent this year, investors stepped back from the trading table as the three indexes dropped slightly. CNNMoney reports the Dow Jones Industrial Average nudged down -0.16 percent, -21.73 points, to end the day at 13,971.24.
LPX, Skyline Rise; Major Indexes Nudge Down Read More
The rutlandjournal reports that Mountain View Modular Homes has relocated its office and showroom to a more visible location in downtown Rutland, VT. Owner Drew Pierce offers custom modular homes made by Ritz-Craft of Pennsylvania starting below $100,000, as well as log cabins and garages. As MHProNews has learned, Pierce
MOD Biz Moves Uptown Read More
FastCompany is reporting the tenth top most innovative architectural firm in the world is Lake|Flato Architects of San Antonio, Tex., reinvigorators of the Hotel San Jose in Austin and the Thunderbird Motel in Marfa, Tex. MHProNews has learned the company recently announced the design of a series of high end,
Deep in the Mods of Texas Read More
