Manufactured and Modular Housing News

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.

MHC Residents Upset with Insurer

Citizens Property Insurance Corp., created by the state to insure manufactured home owners not eligible for private insurance, is coming under fire from the homeowners for raising premiums while cutting coverage. FloridaToday tells MHProNews.com Citizens insures 4,500 of the 4,900 homesites in Barefoot Bay and is now the largest property …

MHC Residents Upset with Insurer Read More

Romney to Throw HUD and FHA Under the Bus?

Writing in the NationalMortgageNews, Paul Muolo says Mitt Romney has pledged to get rid of the Department of Housing and Urban Development (HUD), which likely would also dismantle the Federal Housing Administration (FHA). “It’s election season….and cutting big government is a red meat move,” writes Muolo. It would have to …

Romney to Throw HUD and FHA Under the Bus? Read More

Gov. Will Tout RV Recovery

RVBusiness says TheElkhartTruth reports Indiana Gov. Mitch Daniels will visit the RV/MH Hall of Fame and Museum in Elkhart, Indiana this Friday to meet with RV execs and publicize the industry’s recovery. Mark Bowersox, executive director of the Recreation Vehicle Indiana Council (RVIC), says Daniels will meet with company presidents …

Gov. Will Tout RV Recovery Read More

Congress to HUD: Where Have You Been Since 2000?

The Manufactured Housing Association for Regulatory Reform (MHARR) reports a joint letter dated April 17, 2012 from the chairmen of the House Financial Services Committee and the Housing, Insurance, and Community Development Subcommittee to HUD Secretary Shaun Donovan seeks follow-up from HUD regarding its implementation of the Manufactured Housing Improvement …

Congress to HUD: Where Have You Been Since 2000? Read More

Q1 ELS: Revenues Increase, Income Drops

SeniorHousingNews states Equity Lifestyle Properties, Inc. (ELS) reports a drop in net income available for common shares for Q1 2012 of 34 percent, from $19 million Q1 2011 to $12.4 million this past quarter. Revenues increased for the first quarter of 2012 to 181.3 million compared to $135.1 million for …

Q1 ELS: Revenues Increase, Income Drops Read More

Class Action Suit Settled

The largest mass settlement to date of claims over the FEMA travel trailers supplied to victims of Hurricane Katrina was agreed to by nearly a dozen manufacturers including Thor Industries, Recreation by Design, Play-Mor Trailers, Cruiser RV and Skyline. According to TheNewsStar, the $14.8 million was based on occupants sickened …

Class Action Suit Settled Read More

Wholesale Modulars Going to Booming ND?

PRWeb reports to MHProNews.com from North Dakota modular general contractor M Space is sponsoring the Bakken Housing Summit May 16-17, 2012 in Williston, ND. Bringing together lenders, developers, government representatives, and investors, the goal is to build 5,000 homes in two years to meet the demand for housing is this …

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CA City: Rent Control to Vacancy Decontrol

As follow-up to a story we have reported on nearly a dozen times since last May (the last time was March 29, 2012), KPBS radio tells us the Oceanside City Council passed an ordinance last year to eliminate rent control on the seventeen MHCs in Oceanside, once the current home …

CA City: Rent Control to Vacancy Decontrol Read More

Flat Loan Production This Year?

OriginationNews notes while some firms earned more in the first quarter of this year than all of last, disbelievers expect originations to fall 20 percent this year. But National Mortgage News and the Quarterly Data Report estimate production will be between 1.3 and 1.4 trillion dollars, comparable to 2011. The …

Flat Loan Production This Year? Read More

Tax Relief for MH Flood Victims

StateJournal in West Virginia reports Gov. Earl Ray Tomblin authorized tax relief to flood victims of two additional counties, bringing to eleven the number of counties included. The executive order suspends the consumer sales and service tax and the use tax on purchases that would “substantially improve efforts to provide …

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Median Home Prices Rise

According to RealtorMag’s survey of 146 metropolitan areas, MHProNews.com has learned median home prices nationwide rose five percent in March compared to Feb., to $189,900. Only five of the metro areas saw home prices decline including Minneapolis-St. Paul, Columbia, MO and Reading, PA. The areas that witnessed the largest month-over-month …

Median Home Prices Rise Read More

New Entry in Catastrophic Housing

SunHerald tells MHProNews.com a New Orleans firm has developed a structural steel-insulated paneled dwelling to house survivors of catastrophes. Designed with 22 solar panels so it can generate its own electricity, and with a water cachement system that can hold 6,000 gallons, the modular home can function independently of disaster-damaged …

New Entry in Catastrophic Housing Read More

European, Asian News Douses Dow; MH Stocks Follow Down

A slowdown in the Chinese manufacturing sector and news French President Sarkozy placed second in the first round of voting behind an opponent who does not favor European Union austerity measures kept investors along the wall as the Dow Jones Industrial Average dropped 102.97 points, -0.78 percent, to close at …

European, Asian News Douses Dow; MH Stocks Follow Down Read More

Two-thirds of CFOs say Revenue Will Increase this Year.

According to a General Electric (GE) Capital Survey of 495 Chief Financial Officers (CFOs) at firms with annual sales volume of $50 million to one billion, 67 percent are predicting revenue growth and 74 percent anticipate hiring workers this year. BloombergNews tells MHProNews.com 94 percent of the CFOs predict the …

Two-thirds of CFOs say Revenue Will Increase this Year. Read More

And the Successor is…..???

The Wall Street Journal states Warren Buffett’s announcement of having prostate cancer set the street buzzing with who may be his successor. Financial researchers culled the Oracle of Omaha’s annual letters to shareholders since 1977, some 400,000 words, and determined Ajit Jain, head of Berkshire’s reinsurance division, was mentioned the …

And the Successor is…..??? Read More

FEMA: “Canal Could Flood MHC”—Water Co. Employee: “No Way”

To comply with the 2010 FEMA (Federal Emergency Management Agency) guidelines declaring Magnolia Village MHC in Yuma, Arizona is in a flood plain, replacement homes for the over-55 residents will have to be elevated four feet. To satisfy the National Flood Insurance Program, homes that will cost more than 50 …

FEMA: “Canal Could Flood MHC”—Water Co. Employee: “No Way” Read More

Overall Delinquency Rates Decline

NationalMortgageNews tells MHProNews.com the American Bankers Association (ABA) reports delinquency rates fell across all the loan categories the ABA monitors in the fourth quarter of 2011, the first time that has happened since 2004. The ABA defines delinquency as being late 30 or more days. The report notes consumers made …

Overall Delinquency Rates Decline Read More

Congressional Support Growing for HR 3849

Noting a story we posted April 10, 2012, outlining the Preserving Access to Manufactured Housing Act, the Manufactured Housing Institute (MHI), fresh from its annual National Congress and Expo for Manufactured and Modular Housing in Las Vegas, announces in it’s newsletter the bi-partisan support it has gained for the legislation …

Congressional Support Growing for HR 3849 Read More

Mfg. Housing Composite and Dow End Week Upbeat

Business confidence rise in Germany and strong earnings from corporate America was enough to send the Dow Jones Industrial Average up one half a percentage point, +0.65, to end the week at 13,029.19. The Nasdaq lost -0.24 percent to close at 3000.45, while the S&P gained +0.12 percent, to 1378.53. …

Mfg. Housing Composite and Dow End Week Upbeat Read More

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