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.
The National Association of Home Builders (NAHB), while noting their prediction of a 21% rise in single-family housing starts this year to 528,000 units, and next year to 665,000, says the uncertainty of how the Dodd-Frank Act plays out is preventing lenders from loosening credit, and further constraining the housing […]
NAHB Cautiously Optimistic Read More
House Financial Services Chairman Spencer Bachus (R-Ala.) released a report in rebuttal to Dodd-Frank supporters who claim the new law ends bailouts. Entitled, “The Dodd-Frank Act, the Persistence of ‘Too Big to Fail,’ and the Institutionalization of Government Bailouts,” the analysis asserts Section 204 of Dodd-Frank allows the FDIC to
Congressional Report Punches Holes in Dodd-Frank Read More
Modular builder Red Sea Housing Services in Jubail, Saudi Arabia reports profits for the first nine months of 2012 rose 32 percent over the same period 2011, according to ConstructionWeekOnline. Year-over-year profits for the three months since June nearly doubled compared to last year. The company said the net income
Middle East Modular-Profitable Read More
Despite calls by analysts and policy makers following the recent crash to get the government out of the housing business, Kerri Ann Panchuk of HousingWire says the GSEs still account for 85-95% of the outstanding mortgage loans, securitized and unsecuritized. Plus there is a myriad of programs to help homebuyers—Home
Fed Housing Involvement Will Remain Read More
Universal Forest Products, Inc. (UFPI) reported an increase of 13.7 percent net sales Q3 2012 over Q3 2011, $533.4 million over $486.9 million. Due to a $2 million one time, pretax charge for a loss contingency, net earnings were $4.2 million in 2012 versus $5.6 million in the same period
UFPI Releases Q3 Financials Read More
U.S. stocks moved very little despite positive housing news and strong third quarter corporate reports. CNNMoney reports the Dow Jones Industrial Average rose +0.04 percent today, +5.22 points, to close at 13,557, while the Nasdaq gained +0.10 percent, +2.95 points to close at 3104.12. The S&P also edged up, +0.41
LPX, PATK, and SKY all Outperform the Three Indexes Read More
RVBusiness says White Plains, NT-based Drew Industries, parent company of MH and RV suppliers Lippert Components, Inc. and Kinro, Inc. will release its third quarter 2012 corporate financial report prior to the market opening Oct. 31. A conference call will follow that same day at 11 AM eastern time, although
Drew to Report Financials Read More
The National Association of Home Builders says statistics from HUD and the U.S. Census Bureau report new home construction shot up 15 percent to a seasonally-adjusted annual rate (SAAR) of 872,000 units. New single-family home construction accounted for 11 percent of the increase, 603,000 units, the best rate since Aug.
New Home Construction Hits Four-year High Read More
Following a story we last published Sept. 24, 2012, concerning a race between two women for House District Seat 37 in southeastern Delaware, Cape Gazette Village Soup has posed questions to the candidates. Republican Briggs King is the incumbent and vice president of the county realtors association. Democratic challenger Beth
Manufactured Housing Looms Large in House Race Read More
While the Mortgage Bankers Association (MBA) asserts the Consumer Financial Protection Bureau (CFPB) goes beyond Dodd-Frank in its proposed mortgage servicing guidelines by creating compliance barriers, it also calls the proposed exemption for smaller servicers too narrow. HousingWire tells MHPronews consumer groups say the servicing standards do not protect distressed
CFPB: Caught in the Middle Read More
According to HousingWire, FNC’s most recent Residential Price Index (RPI) shows real estate values have risen to a 20 month high, as foreclosure sales have fallen 23 percent from a year ago to 17.4 percent. In the second quarter FNC home prices increased 2.7 percent, marking the largest rise in
FNC: Housing Recovery Brightens Read More
NationalMortgageNews reports loan modifications completed under both proprietary programs and the government’s Home Affordable Modification Program (HAMP) rose to 76,000 in August, an increase over the 66,000 in July and 46,400 in June. Of the 59,459 proprietary loan modifications in August, Hope Now says 93 percent had fixed interest rates
Loan Mods Rise in August Read More
A strong batch of corporate earnings reports pleased investors today, sending stocks and all three indexes into positive territory. CNNMoney reports the Dow Jones Industrial Average rose +0.95 percent today, +127.55 points, to close at 13,551.78, while the Nasdaq gained +1.21 percent, +36.99 points to cross the 3100. mark and
Corporate Earnings Reports Lift Market Read More
MHProNews has learned the NAHB/Wells Fargo Housing Market Index (HMI) for newly-built single-family homes edged up one point to 41, its highest reading since June 2006. Any score above 50 indicates builders see sales conditions as good rather than poor. “Many builders are reporting increases in the number of serious
Builder Confidence Inches Up Read More
Following a story from May 21, 2012, PalmBeachPost says a plan to close the Whitewater Senior Adult Park MHC and develop the land into multifamily rental units and a commercial center will come to a final vote before the Jupiter, Florida Town Council. Arrangements have been made with Lakeshore Communities
MHC to Become Multi-family Homes Read More
We covered a story Oct. 4, 2012 concerning the federal court-ordered closing of Duroville MHC in Mecca, Calif. due to poor housing conditions, and the fate of those living there. MyDesert reports 41 of the manufactured homes of the 180 homesite Mountain View Estates in nearby Oasis, Calif. had been
Funds Reinstated, Build will Continue Read More
CNNMoney tells MHProNews while Citigroup reported a net profit of $468 million for the third quarter, including several significant losses, their mortgage originations, unlike other large lenders, fell 15 percent from a year earlier to $14.5 billion. Chief Financial Officer John Gerspach, admitting his company did not increase staff quickly
Housing Recovery, Not Read More
RVBusiness reports the RV/MH Hall of Fame in Elkhart, Indiana recently announced the launch of its website for the Northern Indiana Event Center to promote rentals for wedding receptions, meetings, company parties, shows and other gatherings. Previously, interested parties had to wade through the history and other features of the
Hall of Fame Website Promoting Rentals Read More
Citigroup’s strong quarterly report, better-than-expected retail sales and the improvement in Federal Reserve Bank of New York’s Empire State Manufacturing Index were welcomed by investors as all three indexes finished in positive territory in today’s trading. CNNMoney reports the Dow Jones Industrial Average rose +0.72 percent today, +95.38 points, to
Housing Stocks Mixed; Housing Composite Loses 1% Read More
In his review of Stanley Kurtz’s Spreading the Wealth: How Obama is Robbing the suburbs to Pay for the Cities, Eric Miller notes in Sustainable City News how the right has set up a straw man just to smash it down. Miller points out the suburbs were subsidized in the
Reviewer Skewers Book’s Political Bias Read More
