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.
loansafe reports from Billings, Montana, the city is experiencing a housing boom due to its proximity to the oil boom in western North Dakota. With wome oil field employees working a two-week on and two-week off schedule, Billings is a short plane ride away. The average price for a single-family …
As follow-up to a story we posted March 16, 2012, a developer, Dan Coen, had proposed two modular housing developments comprised of 31 four and eight-person living quarters to house oil and gas workers in the energy boom now hitting the Carrollton County, Ohio area. Land that leased for $5 …
LenConnect in Adrian, Michigan informs MHProNews.com Mid Star Home Builders of Cement City, MI has taken on a new owner. Shelly Saunders is joining her husband, Scott, in operating their Ritz Craft licensed modular home business, which also has a location in Coldwater in southern MI. Scott started the business …
RegisteredRep says, according to recent data from the Joint Center for Housing Studies at Harvard University, 80 percent of Americans over 65 are homeowners, and the Census Bureau notes 65 percent are mortgage free. At the same time, The Urban Institute has determined that 40 percent of those born 1956 …
According to a 2012 Thomson Reuters/University of Michigan survey for consumer sentiment, the index improved from 76.4 in April to 77.8 May 2012, the highest rating since Jan. 2008. RVBusiness tells MHProNews.com the drop in energy prices reduced U.S. producer prices which also eased inflationary pressure. Nearly twice the respondents …
WisconsinRapidsTribune says Ferkey Builders in Saratoga, WI just needs approval from the Saratoga Town Board to build an over-50 modular housing community of 40 homes clustered around seven cul-de-sacs. In order for this and another project to go forward, ordinances dealing with lot sizes had to be amended, which the …
A May 7 email from the Manufactured Housing Association for Regulatory Reform (MHARR) recounts a letter sent April 26, 2012 from the Housing and Urban Development (HUD) concerning an increase in design values for Southern Yellow Pine to take effect June 1, 2012. MHARR’s response to HUD says HUD needs …
The rise of consumer confidence to a four-year high and the stability of the inflation rate in April overshadowed the $2 billion trader loss at JPMorgan. CNNMoney reports the Dow Jones Industrial Average nudged down 34.51 points, just over a quarter of a percent, to end the week at 12,820.53 …
As follow-up to a story we posted May 3, 2012, after a very long debate, the Delaware Senate finally passed Senate Bill 205 that limits rent increases in MHCs to changes in the consumer price index (CPI). Higher increases would need to be approved by an advisory board to the …
TheChronicleHerald in Halifax, Nova Scotia, Canada says P.J.C. Land Developments Ltd., headed by Paul R. Norwood, has proposed a retirement village of 350 modular homes just northeast of Halifax in Lake Echo. Sited in 50 clusters of seven homes each, Maple Leaf Homes of Fredericton will manufacture the homes, which …
Reuters reports Standard and Poor’s Rating Services has assigned its senior debt rating of AA+ to Berkshire Hathaway Finance Corporation (BHFC) $1.6 billion note offering. The rating is actually based on parent company Berkshire Hathaway’s “extremely strong competitive position, very strong earnings, very strong liquidity position, and conservative financial leverage.” …
HousingWire reports the Labor Department says the number of Americans filing jobless claims fell to 367,000 the week ending May 5, 1,000 fewer than the previous week. This pales in comparison to the week ending April 28 when claims fell 27,000. The four week moving average hit 279,000, 5,250 fewer …
According to LegalNewsLine, a Ventnor, New Jersey couple charged with a fraudulent modular investment opportunity agreed to pay $35,000 in restitution and civil penalties by Aug. 31 as a settlement. As announced by NJ Attorney General Jeffrey Chiesa, if the defendants, Dennis and Maria Bracall, miss the deadline they and …
CNNMoney reports the Dow Jones Industrial Average edged up +0.16 percent on a drop in jobless claims but continuing problems in Europe, closing at 12,855.04 The Nasdaq dropped -0.04 percent to 2,933.64, while the S&P gained one quarter of a percent, to 1357.99. The Yahoo! Finance Manufactured Housing Composite fell …
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The SeattleMedium tells MHProNews.com the Puget Sound Skills Center (PSSC) in the Seattle, Washington area offers a Construction Technology course where students build a modular home that is then sold by the school system. Teacher Ken Pierson says the course is great for students who like to use their hands …
In reference to a story MHProNews.com posted, NorthCentralPA reports the Pennsylvania House of Representatives has passed House Bill 1767 which requires MHC owners to give 60 day notice to residents when a community is to be closed and the land used for an alternate purpose. The Pennsylvania Housing Finance Agency …
MarketWatch says publicly-owned REIT UMH Propeties, Inc. reports in its first quarter 2012 financials, funds from operations (FFO) fell from $0.25 per share in Q1 2011 to $0.17 at the end of March 2012—$3,512,000 down to 2,656,000, respectively. Net income for common shareholders dropped from $2,125,000, $0.15 per share, in …
NationalMortgageNews says new data shows the number of loans in foreclosure plus loans delinquent 90 or more days increased June 2011 to Dec. 2011 from 9.2 percent to 9.7 percent, following six consecutive quarters of decline. Foreclosure-Response.org notes, for the 100 largest metropolitan areas, the foreclosure rate has risen to …
David Stiff, chief economist at Fiserv, a financial analytics firm, forecasts housing prices will begin rising later this year and increase four percent a year for the next five years. CNNMoney says according to the National Association of Realtors (NAR), around half of 146 metro housing markets surveyed indicated a …
ReinforcedPlastics says MSP Property Management & Development Company, a real estate developer and manager in the Caribbean, has agreed to buy modular homes for a housing project in Antigua from Innovative Composites International (ICI). As we last reported April 6, 2012, at MHProNews.com, ICI’s new Ecoscape plant in Orangeburg, SC …
