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 U.S. stock markets are closed today in honor of Dr. Martin Luther King’s birthday. The New York Stock Exchange will reopen tomorrow at 9 AM for a regular day of trading. (Image credit: Wikipedia)
U.S. Stock Markets Closed Today Read More
CNNMoney informs MHProNews that first-time jobless claims fell to 335,000 for the week ending Jan. 12, falling to a near five-year low, and 37,000 less than the previous week, according to the Labor Dept. While economists had expected a reading of 370,000, they say it is a good sign but
First-time Jobless Claims Near Five-year Low Read More
According to nationalmortgagenews, a final rule from the Consumer Financial Protection Bureau (CFPB) asserts mortgage applicants must be provided with all appraisal and and other home-value estimates by the lender before closing. Says CFPB director Richard Cordray, “This rule will guarantee consumers can receive important information on how a lender
CFPB: Appraisal Transparency in Lending Read More
Although they did not win the competition sponsored by Alltech of Nicholasville, Kent., to create jobs in eastern Kent., students from the University of Louisville proposed mixed-income, single-family modular homes selling for $110,000 each that would create 122 jobs. Utilizing design work created by a partnership with the University of
Kent. Students Design Modular Homes Read More
As the nationalmortgagenews tells MHProNews, while the much-awaited Consumer Financial Protection Bureau’s (CFPB) Qualified Mortgage rule issued Jan. 10 covers rules to determine borrowers’ ability to repay loans and lenders’ protection from liability, it fails to address a required minimum downpayment. Regulators had originally proposed a 20% minimum, but need
Minimum Downpayment not Specified by CFPB Read More
The Manufactured Housing Association for Regulatory Reform (MHARR) reports the Dept. of Housing and Urban Development (HUD) has issued a final rule on the testing of roof trusses in high wind zones for manufactured housing, and is following some of the recommendations made by the Manufactured Housing Consensus Committee (MHCC).
MHARR: HUD’s New Truss Tests add Costs Read More
SeekingAlpha, noting trends in the global economy, picks out five stocks it says will be lucrative in the long run, and one of them is Berkshire Hathaway (BRK-A, BRK-B). As the housing market continues to recover, columnist Frank J. Constantino says Berkshire does has a broad range of investments, but
Got Time? Buy Buffett’s Brain Read More
Although the Dow and the S&P moved up just enough at the close of the day to hit five-year highs ending the week, the Nasdaq finished in the red. Meanwhile, investors were busy digesting corporate financial reports. CNNMoney reports the Dow Jones Industrial Average moved up +0.39 percent, +53.68 points,
Dow and S&P Spark; Many Housing Stocks Nudge Up Read More
MarketWatch reports that Calgary, Alberta Canada-based Black Diamond Group Limited has completed the acquisition of 90 percent of the modular rental business and 20 percent of the modular building manufacturing business of Australian Portable Buildings Pty. Ltd. MHProNews has learned Black Diamond is a remote lodging, modular building, and energy
Black Diamond Completes Shopping in Australia Read More
In a Meet the Media Morning at the Louisville Manufactured Home Show Thurs. Jan. 24, from 9-11 AM, the press has been invited to see the quality of factory-built homes for themselves to dispel the misconceptions about the industry and the product. Top-named officials in the industry, companies associations and
At Louisville: Industry Execs Meet the Press Read More
DailyMarkets reports from Freehold, New Jersey UMH Properties, Inc. (UMH) board chairman Eugene W. Landy said the board of directors declared a quarterly cash dividend of $0.18 per share payable March 15, 2013 to shareholders of record as of Feb. 15, 2013. In addition, the board declared a quarterly dividend
UMH Declares Common & Preferred Dividend Read More
CNNMoney says the Census Bureau reports new home construction rose 12 percent Dec. 2012 over Nov. 2012 to a seasonally-adjusted annual rate (SAAR) of 954,000, well beyond the 889,000 expected by economists at Briefing.com, and almost 37 percent higher than Dec. 2011. While applications for building permits in Dec. changed
New Home Construction Spikes Read More
Mark Bowersox of the Indiana Manufactured Housing Association (IMHA) reports Indiana witnessed a 6.6 percent decline in MH shipments Nov. 2012 over Nov. 2011, but for the year shipments have increased 21.1 percent. As MHProNews has learned, the state’s production of manufactured homes Jan. through Nov. 2012 rose to 4,386,
MH Gaining Strength in Hoosier State Read More
News from the government about a sharp rise in new home construction led to a three percent plus rise in the stocks of home builders Pulte Group and Toll Brothers, and helped push the three indexes higher, leading the Dow close to a five-year high. CNNMoney reports the Dow Jones
Most Tracked Housing Stocks Gain Read More
In a letter obtained by MHProNews addressed to members of the National Communities Council (NCC), Chairman David B. Lentz states members can overcome the challenges and embrace the opportunities presented to the manufactured housing industry, especially in light of the recovering economy. Noting the NCC is the only division of
NCC’s Lentz: Attend Legislative Conference to Show Support Read More
From north of the border ca.finance.yahoo reports Halifax, Nova Scotia-based MHC owner Killam Properties, Inc. (TSX: KMP) will announce it’s financial results for the year ended 2012 on Tue., March 5 after the market closes. A live audio webcast and conference call will be held the following day, Wed. March
Killam Announces 2012 Financials Read More
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
The Taxing of MH in Calistoga Read More
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
The Fed Says: Economy is Gaining Strength Read More
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
Fed Prez: Bring on More Stimulus Read More
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
Mortgage Apps at Highest Level in 20 Months Read More
