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.
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
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
Mortgage Applications Fall Read More
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
Modular Homes Built to Ship Inexpensively Read More
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
Warren Buffett Opines Read More
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
Spain’s Pain could Hit Here Read More
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
New MBA Chair: Repair Lenders Image Read 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
Dow Drops Big, Housing Stocks Mixed Read More
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
ELS Revenue, Income Rise over Last Year Read More
TheDailyStar tells MHProNews a modular project is under way in Sidney, New York, northeast of Binghamton, to provide housing for persons with developmental disabilities. Bought last year by the state Dormitory Authority for the Broome Developmental Disabilities Service Office, one of the six lots already has a modular home outfitted
Modular Homes to Serve Disabled Read More
Following a story we posted Oct. 12, 2012 concerning Salisbury, Mass.’ desire for the state legislature to permit manufactured housing to qualify as affordable housing, Town Meeting voted Oct. 22 to send a home rule petition to the legislature for the second year in a row. As newburyportnews tells MHProNews,
City Petitions Lawmakers to Amend Housing Law Read More
SmartPlanet informs MHProNews from Buenos Aires, Argentina prefabricated housing has meant low cost housing for years in Latin America. Additionally, labor is very low cost, so stacking bricks to make a home is relatively inexpensive. Sebastian Koltan has developed a galvanized steel-framed modular house with distinctive sustainability features: polyurethane foam-filled
Modern Mod in Latin America Read More
TheTimesNews tells MHProNews a Burlington, North Carolina man has been rebuilding manufactured homes in the neighborhood where his family has a business, which is contributing to the rebuild. Bill Mitchell established his roofing business in the 1960’s. His son, Jeff Mitchell, took over in the 1990’s and convinced the Burlington
Refurbishing Factory-Built One at a Time Read More
