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.
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 […]
Mortgage Interest Tax Deduction in Jeopardy Read More
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
Home Sales Spike in Indianapolis Metro Area Read More
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
The Santa Fe New Mexican says as the city is preparing to annex land that includes MHCs, Santa Fe City Councilor Carmichael Dominguez wants to ensure that new manufactured housing developments comply with the same standards as other new neighborhoods, which includes sidewalks, drainage, landscaping and parks. Further, acknowledging the
MHCs Should have Amenities like other Neighborhoods Read More
OriginationNews informs MHProNews at $1,642 a month Washington, D.C. has the highest mortgage payment, accounting for 31 percent of household income, according to Lending Tree. Hawaii ranked second with a monthly average payment of $1,536, and California was third at $1,446 a month. Both Hawaii’s and California’s payments represented 30
D.C. has Highest Mortgage Payment Read More
A complaint filed last June by a Texas bank and two non-profit organizations challenged the validity of Richard Cordray’s recess appointment as head of the Consumer Financial Protection Bureau (CFPB) because the Senate was technically not in recess, according to HousingWire. The bank, State National, contends the CFPB’s Unfair, Deceptive
Challenge to Corday’s Appointment Lacks Standing Read More
NationalMortgageNews reports residential delinquencies unexpectedly fell almost five percent in Oct. after spiking eight percent in Sept., according to Lender Processing Services (LPS). While the national delinquency rate at the end of Oct. hit 7.03 percent, delinquencies have fallen over seven percent since Oct. 2011. LPS says when late payments
After Senate Majority Leader Harry Reid (D-NV) said Congress had made little progress in resolving the fiscal cliff that threatens to send the economy back into recession, a sell-off on the market caused U.S. stocks to close lower. CNNMoney reports the Dow Jones Industrial Average slipped -0.69 percent, -89.24 points,
Minimal Gains Dot Housing Stocks Read More
As follow-up to a story we posted June 12, 2012 concerning 2,000 manufactured homes the Federal Emergency Management Agency (FEMA) brought in to Minot, North Dakota to house survivors of the Souris River flooding in 2011, the homes may now become a permanent addition to the housing stock. The minotdailynews
FEMA Homes Still Needed in ND Read More
Benzinga informs MHProNews Universal Forest Products, Inc. (NASDAQ:UFPI) ranks second in revenue in the general building materials industry with a trailing-twelve-month revenue of $2.01 billion. UFPI’s operating margin for the twelve months is 2.01 percent. UFPI is a large manufacturer and distributor of wood and wood alternative components to the
UFPI Ranks High in Revenue Read More
James Oakley Lewer, 80, founder of Sunrise Housing in Iowa Falls, Iowa, passed away Nov. 22 in Des Moines, IA. He and his wife, La Donna, invested in Sunrise Mobile Home Park in 1969, and began selling manufactured and modular homes as Sunrise Housing. He was a longtime member of
In a New York Times op-ed piece, billionaire investor Warren Buffett says its ridiculous to think higher capital gains taxes will prevent the super wealthy from investing their money. He notes in the 1950s when the capital gains rate rose from 25 to 27.5 percent no one complained of not
Buffett: Wealthy Leaving Middle Class in the Dust Read More
As we have reported in numerous stories over the past two years, housing continues to be in short supply in western North Dakota where the Bakken oil formation has drawn thousands of workers, many of them oilfield workers living in modular man camps. As originationnews tells MHProNews, community banks in
Western ND Housing Shortage: Another Consequence Read More
Following up on a story we posted Nov. 22, 2012 about Sun Communities, Inc.’s acquisition of four MHCs from Rudgate in southeastern Michigan for $71.1 million, and its assumption of managerial responsibility for two additional communities, MHProNews has learned Rudgate shows ownership of six MHCs on its website. It could
Sun Buying out Rudgate? Read More
MarketWatch informs MHProNews White Plains, New York-based Drew Industries announced it has declared a special cash dividend of $2.00 per share common stock payable on Dec. 20, 2012 to shareholders of record as of Dec. 10, 2012. Drew’s president and CEO Fred Zinn says, “This special dividend reflects the board’s
Drew Declares Special Dividend Read More
As we reported here Fri. Nov. 23, the Stephen Siller Tunnel to Tower Foundation is purchasing up to 30 modular homes to be sited on land owned by Faith Church in New Milford, Connecticut to house refugees of Hurricane Sandy from Staten Island (SI) because of the foundation’s ties to
Islanders not Interested in Connecticut, says Official Read More
U.S. stocks closed mixed today as investors watched reports from the beginning of the holiday buying season amid concerns abut the fiscal cliff and the Eurozone debt crisis. CNNMoney reports the Dow Jones Industrial Average slipped -0.33 percent, -42.31 points, ending the day at just under the 13k mark at
Drew Gains, Patrick Stumbles, most Housing Stocks Move Little Read More
Under a program to combat poverty and hunger in rural areas, AllAfrica reports the provincial governor of Kwanza Sul, Eusebio de Brito Teixeirain, of Angola, has dedicated the first 12 of 50 modular homes to impoverished residents of Kassongue district. Beneficiaries of the new homes were identified with the help
Modular Homes Housing the most Vulnerable Read More
GooseCreekPatch reports from Berkeley County, South Carolina just north of Charleston, the Berkeley County Commission will hear a request to rezone property from Planned Development Mixed Use to R-2, Manufactured Residential District. The property is in Summerville, SC. As MHProNews knows, South Carolina has one of the highest percentages of
New MH Development Proposed Read More
