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.
In recent commercials on TV, Henry Winkler is promoting reverse mortgages, telling people they can continue to live in their homes without worry. Reverse mortgages permit homeowners 62 and older to borrow against the equity in their homes, and not repay the loan until they move or die. Homeowners still […]
Would the Fonz Have Approved? Read More
In reporting on the Manufactured Housing Consensus Committee (MHCC) meeting Oct. 23-25, 2012, the Manufactured Housing Association for Regulatory Reform (MHARR) says the federal manufactured housing program as administered by the Department of Housing and Urban Development (HUD) and the authority of the MHCC have deteriorated to a new low.
MHARR: HUD Continues to Downgrade MH Program Read More
MHProNews has learned Jeffrey W. Hallahan II of Garden Homes Estates has been elected president of the Massachusetts Manufactured Housing Association (MMHA), replacing Dave Piper, Jr., who served as president for many years and will continue as an associate member. George Peterson, Jr., assistant minority leader in the Massachusetts House
GlobeNewsWire tells MHProNews Cavco Industries, Inc. (Nasdaq:CVCO) will release its earnings report for the second quarter of fiscal 2013 Thurs., Nov. 1, 2012 after the close of the market. A live webcast conducted by senior management officials to discuss the results will follow the next day, Fri., Nov 2, at
Cavco to Release Financials Read More
Due to the approach of hurricane Sandy, the New York Stock Exchange (NYSE) will be closed today, Monday Oct 29, 2012 for the first time in 27 years for a weather related reason. A multi-state area along the Atlantic seaboard is expected to be impacted. Manufactured housing professionals in the
Stock Exchange Closed Read More
According to Chip Case, professor emeritus of economics at Wellesley College and senior fellow at Harvard’s Joint Center for Housing Studies, the mortgage interest deduction will be on the table after the election as well as other tax reform issues. As WindowFilmMag informs MHProNews, after 44 months housing starts finally
Industry Experts Forecast Modest Housing Growth Read More
As Melodika tells MHProNews, the National Association of Home Builders’ (NAHB) Building Systems Council (BSC) awarded Epoch Homes first place for the best 3,001-4,000 square foot modular home at their Jerry Rouleau awards Showcase. Epoch also won first place for Excellence in Design-Green Building. With numerous honors under its belt,
Modular Epoch Homes Honored Twice Read More
ABC-AU reports from Queensland, Australia Gateway Constructions has won a $4.5 million contract to build 12 new modular homes for the Cape York Aboriginal community in the far northeastern tip of Australia. According to Queensland Housing Minister Dr. Bruce Flegg, although the housing will be built in a factory in
Modular Homes Down Under Read More
RTTNews reports Freehold, New Jersey-based UMH Properties, Inc. has priced a registered offering of 1.25 million shares of its 8.25% Series A Cumulative Redeemable Preferred Stock at a price of $25.50 per share, which will total 3.66 million shares of Preferred A stock outstanding. The offering is anticipated to raise
UMH Registers Stock Offering Read More
With companies only lukewarm about the remainder of the year amid tepid corporate returns for the third quarter, investors shied away from the tables, as the Dow hit a choppy road, and the three indexes moved only .07 percent or less. CNNMoney says the Dow Jones Industrial Average gained +3.53
Stocks End the Week Sluggish Read More
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
High Income Residences for Low Income Residents Read More
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
New PA Law Affects MHCs that Close Read More
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
Garden Homes Denied Again Read More
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
Business Leaders Overwhelmingly Support Romney Read More
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
Sales Up, but Profits Fall Read More
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,
HS Students Build Modular Homes Read More
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
Patrick Industries Shows Gains Read More
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,
Flopping is the New Flipping Read More
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
Modular Prison Rises in Mexico Read More
