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.
Though not reflecting closings, the National Association of Realtors (NAR) tells MHProNews the Pending Homes Sales Index (PHSI) rose 5.2 percent Oct. over Sept. 2012 to 104.8, and 13.2 percent over Oct. 2011. Pending home sales have risen for 18 consecutive months, and are are at their highest level since …
Bloomberg reports Marilyn Cotterman of Brownsburg, Ind. put $40,000 in a self-directed IRA that allowed her to invest in manufactured housing, earning a multiple of the original investment in three years. As a Roth Ira, gains and income accrue tax free providing you do not benefit in any financial way …
As follow-up to a story Nov. 26, 2012 in which Staten Island (NY) Borough President James Molinaro said he would not accept “colonies of trailers” to house those displaced by Hurricane Sandy, a SRO crowd in a high school gym of survivors now in their fifth week of homelessness voiced …
The Province in Vancouver, British Columbia, Canada says the last of four seniors at Abbotsford’s Garden Village MHC, which once was home to 101 residents will be moving before the official closure of the community Jan. 15. While provincial law requires owners to give residents 12 months written notice plus …
The Cape Coral Daily Breeze tells MHProNews sales of manufactured homes and homesites have begun early in North Fort Myers, Fla. Margaret Black of Horizon Village Co-op, Inc. says this summer was the busiest she’s ever seen at Horizon, a resident-owned 55+ community of half shareholders and half renters. “Our …
TheDailyJournal reports from south central New Jersey that American Custom Modular of Millville, NJ will hire nearly 50 new workers as part of a project to build over 180 modular townhomes for Winslow Commons in Camden County, north of Millville. Founded last year by Jeffrey DiMatteo and Gino Ciancaglini, the …
According to the S&P/Case-Shiller Index, home prices registered the largest gain in over two years, moving up 3.6 percent in the third quarter over Q3 2011. CNNMoney reports the increase was the biggest since the second quarter of 2010 when the homeowner’s tax credit of up to $8,000 ended. A …
Investors stayed on the sidelines today as political gridlock gripped lawmakers in their attempts to resolve the fiscal cliff crisis. Economic data indicating spending fell 0.2% and personal income remained unchanged in October did not help matters any as the three major indexes barely moved. CNNMoney reports the Dow Jones …
Skyline Flies High as Most Housing Stocks Move Little Read More
MHProNews has been informed by attorney Robert Coldren about a 6-1 decision handed down by the California Supreme Court Nov. 28, 2012. The court held that an MHC being converted to resident ownership within the Coastal Zone (defined as within 1,000 yards from the mean high tide line) is considered …
The government’s Home Affordable Refinancing Program (HARP) saw a 75% growth over all of last year in the first nine months of 2012, amounting to 700,000 loans, according to nationalmortgagenews. Edward DeMarco, acting director of the Federal Housing Finance Agency (FHFA) suggested the numbers might hit one million by year’s …
Do not buy a home, a municipal bond, or invest capital in a state where private sector workers are outnumbered by people who receive government funds, whether as a government employee (local, state or federal) or recipient of Social Security or welfare, says William Baldwin in Forbes. Dividing the states …
U.S. stocks rose modestly today but fell back somewhat following news that negotiations over the fiscal cliff produced no substantive results. CNNMoney reports the Dow Jones Industrial Average managed a gain of +0.28 percent, +36.71 points, ending the day at 13,021.82. The Nasdaq moved up +0.68 percent, +20.25 points, to …
Harking back to a story that began in 2006 when Garden Homes Management Corp. first proposed a 124 site MHC in Oxford, Conn. that has been stymied by numerous hearings, commissions, courts, and studies, the Stamford, Conn. developer is appealing a ruling by the Inland Wetlands Agency that the development …
With a dividend yield of 1.07%, NASDAQ says Universal Forest Products, Inc. (UFPI) has declared a cash dividend payment of $.20 per share scheduled for Dec. 15, 2012 to shareholders of record prior to Nov. 28, 2012. UFPI has paid the same dividend for the last seven quarters. The company’s …
American author, salesman, and motivational speaker Hilary Hinton “Zig” Ziglar, who inspired millions, rubbed shoulders with U.S. presidents, and shared multiple stages other luminaries, died Nov. 28 in a Texas hospital of pneumonia at age 86, according to Wikipedia. A salesman for many years following his military service in World …
SmartCompanyAU tells MHProNews modular home builder Trade Fusion in Griffith, New South Wales, Australia has been placed in administration, similar to receivership in the U.S. Founded in 2004 on the basis of combining a traditional construction company with a factory making roof trusses, wall panels, and glass and aluminum components, …
With legislators looking for revenue sources to avert the fiscal cliff, the housing industry once again feels pressure that the mortgage interest tax deduction may be on the block, according to CNNMoney. Their lobbying expenditure has increased from $27 million last year to $30 million this year, according to the …
IndyStar reports sales of homes in the greater Indianapolis area hit 2,307 in October, a 33 percent increase over the 1,735 homes sold in Oct. 2011. While sales jumped 24 percent in Indianapolis’ Marion County, neighboring Boone County saw a 49 percent spike, while Hamilton County, the wealthy suburb to …
Government officials’ comments on fiscal cliff negotiations pleased investors as the Dow moved up over 100 points. CNNMoney reports the Dow Jones Industrial Average gained +0.83 percent, +106.98 points, ending the day at 12,985.11. The Nasdaq moved up +0.81 percent, +23.99 points, to close at 2,991.78, while the S&P advanced …
Three Major Indexes, Most Housing Stocks Post Gains Read More
Real Estate Weekly tells MHProNews groundbreaking for the first phase of developer Forest City Ratner Companies’ (FCRC) Atlantic Yards modular project in Brooklyn will be held Dec. 18 with completion set for 2014. Built in partnership with Skanska USA, a Swedish modular firm, and designed by architectural firm ShoP, the …
Forest City Ratner Moves Ahead with Modular Project Read More
