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.
Concerns over the fiscal cliff, double-dip recession in the Eurozone, and bombing of Gaza by Israel pushed investors away from stocks as all three indexes lost steam today. CNNMoney reports the Dow Jones Industrial Average lost -0.23 percent, -28.57 points, closing at 12,542.38. The Nasdaq dropped -0.35 percent, -9.87 points …
According to usgovinfo, a recent report from the Government Accountability Office (GAO) says the air quality in manufactured housing may be compromised by carbon monoxide entering the homes. GAO says the problem stems from fresh air intake and exhaust vents constructed too close together, which could allow CO2 and other …
Dr. Mark Dotzour, chief economist at Texas A & M’s Real Estate Center, proclaims tax credits to buy homes or cars represents a fake economic recovery. When people buy because they want to marks a real recovery, which he says is starting to happen now because there is so much …
WDAZ-TV reports from Grand Forks, North Dakota modular home builder Homark Homes is having trouble keeping up with demand for housing coming from the oil boom in western ND. Located just across the ND border in northwestern Minnesota, a strong Canadian dollar is bringing business from the north as well. …
OriginationNews says according to new figures compiled by the Mortgage Bankers Association (MBA), mortgage applications in New York and Connecticut shot up 60 percent for the week ending Nov. 9, while in New Jersey applications doubled. The first week of Hurricane Sandy apps dropped five percent nationwide, while they plunged …
According to the Fannie Mae October National Housing Survey of 1,000 Americans, 50 percent expect home rental costs to increase, providing more incentive to buy a home. RealtorMag tells MHProNews the survey revealed 72 percent of respondents say now is a good time to purchase a home, while only 18 …
U.S. stocks dropped over one percent as fears over the impending fiscal cliff and renewed fighting in the Middle East provoked a sell off of stocks by investors. CNNMoney reports the Dow Jones Industrial Average lost -1.45 percent, -185.23 points, closing at 12,570.95. The Nasdaq dropped -1.29 percent, -37.08 points …
RTTNews reports UMH Properties, Inc. (UMH) declared its funds from operations attributable to common shareholders (FFO) for the third quarter 2012 was $2.10 million, $0.13 per share, as compared to $1.68 million, or $0.11 per share for the same quarter 2011. Total income for the third quarter rose from $9.67 …
Global financial services firm Morgan Stanley and non-profit National Equity Fund, Inc. (NEF) have added $75 million to their joint Rebuilding Local Economies Fund to help provide replacement housing for victims of Hurricane Sandy, according to BusinessWire. Designed to jump-start economic activity with developmental assistance, the fund finances affordable housing …
For Profit and Non-profit Collaborate To Alleviate Storm Damage Read More
ConstructionDigital reports from the United Kingdom after many months of collaborative research, Larkfleet has developed low-cost, lightweight, energy efficient modular housing. The Startlink Lightweight Building Systems (SLBS) homes weigh less than half of what a comparable site-built home would weigh. Evaporative cooling in the summer flows from the water retentive …
CFTK-TV reports from northernwestern British Columbia (BC), Canada the residents of Telkwa, BC have just dedicated an eight unit modular housing project for seniors and persons with disabilities. Managed and operated by the Telkwa Senior Housing Society, the homes are outfitted with special needs features and fixtures. The $1.3 million …
Housing industry analysts are skeptical about whether the construction that will result from Hurricane Sandy will offset the property damage that occurred. NationalMortgageNews reports Ken Simonson, president of the National Association for Business Economics and chief economist at the Associated General Contractors of America, does not regard it with much …
Will Sandy’s Destruction Spur Re-construction on the East Coast? Read More
HousingWire reports Raj Date, deputy director at the Consumer Financial Protection Bureau (CFPB) will be leaving his post next year. As industry expert and consumer advocate, Date was the acting director from the inception of the agency in July 2011 until Richard Cordray took over the position. Mortgage Bankers Association …
4-Traders reports long-time insurance rating firm A.M. Best has conferred upon Standard Casualty Company a financial strength rating of A- (excellent), reflecting the company’s sufficient risk-adjusted capitalization, positive operating results, and excellent market smarts. A subsidiary of manufactured home producer Cavco Industries, Inc. (CVCO), Standard has historically adhered to strict …
Continuing concerns about whether lawmakers will do what it takes to avoid the fiscal cliff overshadowed trading today as all three indexes closed down less than one percent. CNNMoney reports the Dow Jones Industrial Average nudged down -0.46 percent, -58.9 points, closing at 12,756.18. The Nasdaq lost -0.70 percent, -20.37 …
CEO Philip Fraser of Killam Properties, who called Ottawa, Canada, the nation’s capital, “one of the strongest cities for long-term investment in Ontario,” says his company is on the prowl for more acquisitions there, reports the OttawaBusinessJaournl. Based in Halifax, Nova Scotia, Killam purchased a 25 percent share in a …
President Obama signed a disaster declaration—HUD No. 12-169–for the state of Rhode Island in the wake of Hurricane Sandy’s swath of damage. Fannie Mae and Freddie Mac are offering forbearance on loans to borrowers affected by Hurricane Sandy, and Freddie says its servicers can suspend eviction and foreclosure proceedings for …
MHProNews has learned from 24/7 Wall St. the median list price for homes in the ten most expensive zip codes range from $2.8 million to $6.7 million. The top six are Alpine, New Jersey 07620 median sales price (MSP) $6.7 million; Ross, Calif. 94957 MSP $5.3 million; New York City …
The median sales price of a home spiked 14.8 percent and sales rose 15.1 percent over year ago levels, says the Minneapolis Area Association of Realtors regarding a 13 county area. The number of houses on the market rose 7.5 percent from a year ago October, as HousingWire tells MHProNews, …
Reporting from New York City, observer says the return to normalcy in parts of the battered city, from the homes that burned to those that washed away, will be many months. Owners of one expensive high rise in lower Manhattan do not know when their units will be habitable, and …
