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.
All three indexes gained in today’s trading as hopes for more stimulus from the Federal Reserve took center stage over job market worries and mixed corporate earnings, sending the Dow Jones Industrial Average up 113.9 points, +0.87 percent, to end the day at 13,204.62. CNNMoney says the Nasdaq gained +0.69 …
MHProNews.com has learned from Reuters MH and RV community operator Sun Communities, Inc. reports net income for Quarter 1 2012 over Q1 2011 increased from $2.4 million to $5.4 million. Funds from Operations (FFO) rose from $18.8 million in the first quarter of 2011 to $25.7 million for the quarter …
According to NationalMortgageNews, Lender Processing Services (LPS) reports the national delinquency rate fell six percent from the previous month to 7.09 percent as of March 31, 2012. For the 40 million mortgages analyzed by LPS, March is the third consecutive month the rate has fallen, reaching a new low last …
Patrick Industries, Inc. of Elkhart, Indiana reports net sales for the first quarter of 2012 rose 47.8 percent over Q1 2011, to $102.7 million, reflecting a 36 percent increase from MH revenue and 57 percent rise from RV revenue. The company reports net income for Q1 2012 of five million, …
The National Association of Home Builders (NAHB) tells MHProNews.com sales of newly built, single-family homes dropped to a seasonally-adjusted annual rate (SAAR) of 328,000 units in March, a 7.1 percent decline from the 353,000 homes in February. NAHB Chief Economist David Crowe says, “The March decline is from a stronger-than-expected …
MarketWatch reports the value of U.S. homes rose 0.5 percent Feb. to March 2012, marking the largest increase since 2006 when home values also rose 0.5 percent, according to the Zillow Home Value Index (ZHVI). However, the Zillow Home Value Forecast predicts home values will fall nationally 0.4 percent during …
The VCStar in Ventura, California reports the Ventura County Supervisors have endorsed a measure that protects MHC residents who sign multi-year leases. AB 1938 is scheduled for a hearing in the California State Assembly before an Assembly housing committee. The bill would require MHC operators to provide a one-page summary …
CNNMoney reports a combination of strong corporate earnings from major players like Apple and Boeing, and Federal Reserve Chief Ben Bernanke’s words that the Fed is “entirely prepared to take additional balance sheet actions…should economy require additional support,” gave a strong boost to U.S. stocks. The Dow Jones Industrial Average …
DailyCourier reports from Prescott Valley, Arizona the town government will receive $300,000 from the Arizona Department of Housing to fix-up owner-occupied homes and replace aging manufactured houses. The program is designed to help low to moderate-income households remedy building code violations or health and safety issues. MHProNews.com has learned the …
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 …
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 …
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 …
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 …
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 …
Corporate earnings reports gave the Dow Jones Industrial Average a little bit of steam, as it gained +0.58 percent, +74.39 points, to close just over the 13,000 mark at 13,001.56. CNNMoney says the Nasdaq fell -0.30 percent to end the day at 2,961.60, while the S & P moved up …
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 …
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 …
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 …
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 …
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 …
