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.
According to nationalmortgagenews all 12 Federal Reserve banks reported improvements in residential real estate in their districts, as noted in the Beige Book. Compiled on Aug. 20, the snapshot says the housing market is “positive with continued increases in activity expected.” While the Philadelphia and Kansas City banks remain cautious …
Federal Reserve District Banks upbeat on Housing Market Read More
Oak Tree Development of Cambridge, Mass. has been chosen by the Federal Real Estate Investment Trust to develop the residential section of a 222,000 square foot retail plaza in Reading, Massachusetts, according to PRWeb‘s story based on a Boston’s weekly Real Reporter article. Oak Tree tapped Keiser Maine, a division …
The Republic reports the Associated Press says the Three Affiliated Tribes (Mandan, Hidatsa, and Arikara Nation) of New Town, North Dakota developed a new manufactured housing community after the 45 site Prairie Winds Trailer Court was sold to oil development company United Prairie Cooperative for employee housing. The tribe invested …
Frontiersman tells MHProNews the Builders Choice, Inc. plant in Meadow Lakes, Alaska outside Anchorage goes through 5,000 board feet of lumber each day making trusses for man camps for the North Slope, six-plex housing units, and airplane hangars. While currently only 27 people work at the facility, Builders Choice opened …
In his annual speech at Jackson Hole, Wyoming, CNNMoney tells MHProNews Federal Reserve Chairman Ben Bernanke talked up providing more stimulus for the economy, saying the two previous rounds of asset purchases improved financial markets and led to two million jobs. Previously, the Fed intimated it would provide stimulus only …
In a speech at Jackson Hole, Wyoming Fed Chairman Ben Bernanke hinted that the Fed is ready to provide additional stimulus to the economy, which boosted the three indexes for the end of the week and month. CNNMoney reports the Dow Jones Industrial Average moved up 90.2 points, +0.69 percent, …
Housing Composite, Most Tracked Housing Stocks Gain Read More
The ChronicleHerald of Canada tells MHProNews 300 families in the Mountain View Estates manufactured housing community at Lake Echo in Nova Scotia have been without potable water since last December. MHC owner Killam Properties, Inc. of Halifax, Nova Scotia has issued monthly updates saying the boil-water order remains in effect …
ozarksfirst reports from Jefferson City, Missouri the Missouri Public Service Commission’s Manufactured Housing and Modular Units Program has received word from the United States Consumer Product Safety Commission (CPSC) that specific models of GE dishwashers are being recalled due to a problem in the heating element that can pose a …
SacBee reports from the unincorporated town of Thermal in California’s Eastern Coachella Valley, residents of the Sunbird Mobile Home Park filed a complaint with the California Public Utilities Commission claiming excessive water bills and arsenic-contaminated water, which resulted in a bill passed by the state legislature allowing residents in such …
nationalmortgagenews reports the National Association of Realtors (NAR) says July pending home sales rose 2.4 percent over June to a two-year high, after falling in June 1.4 percent from the previous month. The trade group is forecasting home sales will rise nine percent this year and eight percent in 2013, …
AnchorageDailyNews tells MHProNews consumer spending in July rose 0.4 percent over June, the best rate in five months, following no change in June and a small decline in May. Retail spending offset weak manufacturing. Income grew in July 0.3 percent, the same for May and June, and people earned 0.3 …
The Manufactured Housing Institute (MHI) announces Jenny Hodge has been selected Vice President, National Communities Council, with the responsibility for creating, managing, and developing programs to advance the interests of manufactured home land-lease community owners, managers, developers, lenders, brokers, and service/suppliers. Formerly Vice President of Marketing for the American Integrity …
MHI Selects Jenny Hodge as Veep of National Communities Council Read More
Positive economic indicators during the week, including signs that the economy grew faster than originally reported and that the housing market is improving, put the damper on investors hoping Ben Bernanke will offer more stimulus in his speech tomorrow, driving the three major indexes down. CNNMoney reports the Dow Jones …
Ronnie Richards of American Homestar Corp. tells MHProNews a report by HousingWire reveals while mortgage rates have hit record lows since the beginning of the year, the effective interest rate has not changed because the Federal Housing Administration (FHA) raised its insurance premiums due to its troubled emergency insurance fund, …
Rising FHA Insurance Raises Effective Interest Rate Read More
Gizmag tells MHProNews the Mini House from Sweden is a prefabricated modular home that arrives flat-packed and can be assembled in two days. Creator Jonas Wagell says all the modules can be recycled or combusted except the sliding glass door that opens on to the terrace, which gives a larger …
Stockhouse tells MHProNews the Canada Mortgage and Housing Corporation (CMHC) says the outlook for average rental apartment vacancies is not expect to change from the second quarter forecast of 2.2% for this year and 2.1% for 2012. Regionally for 2013 the lowest vacancy rates are forecast for Vancouver at 0.9%, …
In research that covers 75 percent of all residential mortgage applications, the Mortgage Bankers Association (MBA) reported applications fell 4.3 percent for the week ending Aug. 24. Meanwhile, nationalmortgagenews tells MHProNews refinancings accounted for 79 percent of all applications, as compared to 80 percent the previous week and 81 percent …
HousingWire says, according to the Federal Reserve Bank of New York, household indebtedness fell $53 billion from Q1 to the second quarter of 2012 to $11.38 trillion, $1.3 trillion below household debt from the third quarter of 2008. Delinquency rate for mortgages in the second quarter was at 6.9 percent, …
CNNmoney says in a complaint filed last month, the Los Angeles city attorney’s office accused U.S. Bank of contributing to crime, blighting neighborhoods, and harming property values by failing to maintain 170 foreclosed properties. With 3,000 branches in 25 states, the nation’s fifth largest bank is being called the largest …
Housing sales and prices are showing modest gains, according to RealtorMag, with economists saying the housing market will likely add to economic growth this year for the first time in seven years. July home sales rose to over ten percent better than July 2011, and prices increased 9.4 percent July …
