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.
Philly reports low-income housing in a section of Philadelphia called Logan rivals high-income housing elsewhere. The three modular rowhouses are stylish and modern, and among the most energy efficient homes anywhere, with solar paneled roofs that reduce the energy consumption level to near zero, crucial for the poorest of the …
According to mcall, Pennsylvania Gov. Tom Corbett signed into law House Bill 1767, a measure that amends the Manufactured Home Community Rights Act that requires written notice to homeowners of a decision to close a community. The law also prescribes relocation expenses when homeowners do not have the means to …
Since Garden Homes Management Corp. began its attempt to construct a 124 homesite MHC in Oxford, Conn. in 2006, it has endured numerous hearings, commission meetings, studies, court battles and appeals, always being told, like that old gospel tune, there is “One More River to Cross.” As MHProNews has posted …
In its survey of 284 chief executives in Oct. 2012 regarding the presidential election, ChiefExecutive reports 83.2 percent of CEOs intend to vote for Mitt Romney, nearly identical results to a survey of 334 separate CEOs in Sept. 2012. Additionally, if Romney is elected, CEOs say they are more likely …
Despite a drop in first-time unemployment claims, a rise in pending home sales, positive news on the sale of durable goods for Sept., and good news about Greece, the U.S. stock market moved little as a mixed batch of corporate returns and uncertainly ahead of the presidential election weighed on …
Investors Shy from Market; Patrick and Sun both Drop Read More
RVBusiness says real estate investment trust (REIT) Sun Communities, Inc. (SUI) reports an increase in sales for the third quarter 2012 of $83.1 million versus $74.7 million for the same period 2011. Sun incurred a third quarter net loss of $275,000 as compared to Q3 2011 when the company lost …
Fosters reports from Somersworth, New Hampshire students at Somersworth High School and Career Technical Center are putting the finishing touches on a 1,500 square foot modular home that will likely go to a local needy family. Many of the 30 modular homes built over the years have gone to non-profits, …
MH and RV component supplier Patrick Industries, Inc. (PATK) says third quarter 2012 net sales were up 45.9 percent to $112.9 million from $77.4 million in Q3 2011, a 13 percent increase of which was in the manufactured housing division. As sacbee tells MHProNews, net income from the third quarter …
CNNMoney informs MHProNews the tripling of short sales in the last three years has led to banks being overloaded with requests, which has spawned a mortgage fraud called “flopping.” An underwater borrower gets the lender to agree to a short sale. The seller then “doctors” the house with offensive smells, …
MHProNews has learned from CorrectionalNews a U.S. company built a modular 1,232-cell federal prison in Chiapas, Mexico using local workers for the project. Pennsylvania-based Rotondo Weirich’s Latin America arm, RW Antares, partnered with Arendal to establish an onsite facility making the 376 precast concrete modules. The extreme heat in Southern …
NationalMortgageNews tells MHProNews according to the Bankers Mortgage Association applications fell 12 percent for the week ending Oct. 19, 2012. Mortgage apps fell 4.2 percent the previous week, according to the trade group’s market composite index, which covers some 75 percent of residential retail lenders. Refinancings as a total of …
Investors stayed close to the wall today, concerned about mixed corporate earnings, the fiscal cliff, and European debt issues, as all three indexes edged down. The Dow Jones Industrial Average fell 25.19 points, -0.19 percent, to finish the day at 13,077.34. CNNMoney says the Nasdaq lost -0.29 percent, -8.76 points …
Most Tracked Housing Stocks Rise, Led by Nobility and Patrick Read More
Based on data from HUD and the U.S. Census Bureau, the National Association of Home Builders NAHB) reports new single-family home construction rose 5.7 percent in Sept. to a seasonally-adjusted annual rate (SAAR) of 389,000 units. This marks the best sales rate in 2 1/2 years. NAHB Chief Economist David …
JetsonGreen reports Los Angeles-based Connect:Homes has developed a patented system for delivering their modular homes to reduce the overall expense. Noting costs to ship a prefabricated home cross country can amount to $100,000, but to send a container with 64,000 pounds of goods around the world for $5,000, founders Jared …
NASDAQ reports in a TV interview this morning, Oct. 24, on CNBC, Warren Buffett says the housing market has turned a corner and home construction is improving, and he expects Berkshire businesses tied to that industry to pick up. Despite the global economy slowdown, the Oracle of Omaha says the …
CNNMoney reports the third quarter in Spain has seen a shrinkage of 0.4 percent in both government and household spending. The fourth largest economy in the Eurozone contracted 1.7 percent year-over-year for Q3 2012, compared to 1.3 percent in the second quarter. A 25 percent unemployment rate and the government’s …
HousingWire reports in the wake of the financial meltdown, the nation gained 4.8 million renters in the last six years while losing 1.7 million owner households, according to the Mortgage Bankers Association (MBA). In the housing finance sector, the MBA predicts mortgage originations will hit $1.7 trillion in 2012, an …
MBA Prognosis: Slow Crawl to Health with Potential Busted Knees Read More
NationalMortgageNews says the new Mortgage Bankers Association (MBA) Chairwoman Debra Still says the mortgage industry has to repair its image from top to bottom toward rebuilding the housing and residential finance sectors. Noting lenders have to be committed to do a better job, she says, “Nowhere do we have more …
Negative earnings reports from several big corporate hitters sent U.S. stocks reeling, as the Dow Jones Industrial Average fell 243.36 points, -1.82 percent, to finish the day at 13,102.53. CNNMoney says the Nasdaq lost -0.88 percent, -26.50 points to close at 2,990.46, while the S&P fell -1.44 percent, -20.71 points …
Equity LifeStyle Properties, Inc., (ELS) reports its Funds From Operations (FFO) rose from $33 million, or $0.76 per share in Q3 last year to $53.2 million, or $1.17 per share for the third quarter of this year. According to RVBusiness, for the nine months ending Sept 30, 2012 FFO hit …
