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.
HousingWire reports one definite sign of good news, and another likely source of good news later this week. The first is there were no bank failures over the weekend. At this time last year regulators had closed 68 banks, but only 40 have been shuttered so far this year. Secondly, […]
Bank Failures Down, Fed Stimulus Coming Up? Read More
Investors, hoping for some word of stimulus from central banks, shied away from much activity today, reflected in the three indexes which moved less than one quarter of a point in either direction. CNNMoney reports the Dow Jones Industrial Average fell -33.3 points, -0.25%, to end at 13,124.67. The Nasdaq
Nobility Active Moving Up, Most Everything Else Ho-Hum Read More
Tropical Storm Isaac entered the Gulf of Mexico early Monday staying on a northwesterly track away from the Florida peninsula, but eerily similar to Katrina’s in 2005. According to the National Hurricane Center Isaac is expected to be a hurricane in a day or so before it hits land fall.
Urgent Tips for Manufactured Housing Professionals in Isaac’s Path Read More
WaToday reports from Australia modular construction techniques have been used in mining camps and other remote areas to house workers, where materials and labor are expensive to import for onsite construction. Modular methods have also contributed to the development of public buildings and social infrastructure such as schools, hospitals, nursing
High-end Modular Hotels Down Under? Read More
The Brownsville Herald in Texas says the San Benito utility board will try to pass a $10 monthly fee on manufactured homes to help pay for a $17.7 million water and sewer plant upgrade in this city just north of Brownsville. Last year the city levied the fee on unmetered
City to Impose Fee on MH Read More
gobogolusa reports the Washington Parish Planning Commission in Louisiana is considering amending parish regulations that prevents any manufactured home made before 1988 from being sited in the parish. That ordinance was instituted to prevent decrepit homes from being sited in the parish and rented as substandard housing, but the Louisiana
Pre-1988 HUD Code Homes may Receive Variance Read More
As follow-up to a story we published Aug. 17, 2012 about loan originator compensation, the Consumer Financial Protection Bureau (CFPB) has issued a new proposal which gives management more control of pricing, and prohibits loan originators from leading borrowers into higher cost or higher risk loans as a means to
CFPB Amends LO Compensation Proposal Read More
Harking back to a story we have been following since Sept. 2011 and that we last covered July 13, 2012, Edgeway Mobile Home Park in Middleboro, Massachusetts has been under a cloud of violations, court judgments, and missed deadlines since it first opened in the 1990’s, and now, since original
Problem MHC on Block Read More
Investors reacted to a letter from Federal Reserve Chairman Bernanke stating there is more room for stimulus to help the economic recovery, pushing all three indexes up, although they still lost ground for the week overall. CNNMoney reports the Dow Jones Industrial Average gained +100.51 points, +0.77%, to end the
Nobility Leads Housing Stocks Charge, Gaining 8.37% Read More
Stockhouse reports T.J.T. Inc. of Emmett, Idaho announced the resignation of Shawn CJ Kling as President and CEO as of today, Aug. 24, 2012 to be replaced by Larry E. Kling, who has been on the board of directors since 2001. The new CEO served in that same role for
Exec Change at T.J.T. Inc., from One Kling on to Another Read More
sussexcountian reports from Georgetown, Delaware manufactured housing communities are becoming a hot topic in the race for the state representative seat in District 37. A “rent justification” bill that would have required approval from the Governor’s Advisory Council on Manufactured Housing for any increase in rent at an MHC beyond
MHCs are Issue in Delaware House Race Read More
nationalmortgagenews tells MHProNews research firm Zillow says in its “Negative Equity Report” 400,000 fewer mortgages fell into underwater loan status in the second quarter 2012 compared to the first quarter, dropping from 15.7 million to 15.3 million Americans. Percentage-wise, the numbers dropped from 31.4% of all homeowners with balances higher
Underwater Loans Fall Read More
As follow up to a story we posted Aug. 13, 2012 concerning Cameron’s Mobile Estates in Santee, California attempt to raise rents in their 303 site community by an average of $422. to $557, utsandiego says the Santee City Council unanimously upheld a decision by the Santee Manufactured Home Fair
City Council Rejects Site Rent Increase Read More
The Baltimore Sun tells MHProNews Habitat for Humanity Susquehanna partnered with Harford Technical High School in Bel Air to build a modular home for an alumna of the school to help her achieve the dream of homeownership. Work began on the home for Kimberly Johnson two years ago with students
Students Build Modular Home for Alumna Read More
According to a study published in RVBusiness, Indiana ranked as the best state in the Midwest and the fifth best nationwide in which to do business, as noted by the Polllina Corporate Top Ten Business States of 2012 in conjunction with the American Economic Development Institute. In its ninth year,
Indiana Ranks High in Doing Business Read More
A surprise jump in jobless claims, a slowdown in manufacturing growth in China, and disappointing sales and revenue forecasts from Hewlett-Packard pulled down the Dow Jones Industrial Average -115.3 points, -0.88%, to end at 13,057.46, according to CNNMoney. The Nasdaq dropped 0.66 percent to 3,053.40, while the S&P fell -0.81%
Dow Stumbles, while Nobility and Skyline Rise Read More
SeniorHousingNews says while Democrats lambast vice-presidential candidate Paul Ryan’s proposal to make Medicare a voucher system, Republican presidential candidate Mitt Romney points out President Obama’s Affordable Care Act garners a significant portion of funding by cutting Medicare $716 billion. The combination of reductions in reimbursements to hospitals and private health
Obamacare Cripples Medicare Read More
According to the nonpartisan watchdog the Congressional Budget Office, if Congress cannot act to avoid the current fiscal tightening, economic growth will shrink by 0.5 percent in 2013, and unemployment will rise to 9.1 percent from 8.3 percent today. As MHProNews has learned, the economic consequences of fiscal tightening in
CBO Projects Two Different Possible Economic Outcomes Read More
WFTV reports the city of Casselberry, Florida just north of Orlando wants to demolish vacant factory-built houses and replace them with Habitat for Humanity homes, which has a waiting list of 21 families in Seminole County and Greater Apopka wanting to buy Habitat homes. Casselberry has applied for neighborhood stabilization
City Plans to Demolish old pre-HUD Code Homes Read More
nationalmortgagenews reports the Mortgage Bankers Association (MBA) says mortgage applications fell 7.4 percent for the week ending Aug. 17, and the refinance share dropped from 81% to 80% to its lowest level in six weeks, while average interest rates for a fixed-rate 30-year mortgage (FRM) nudged up ten basis points
Mortgage Apps Fall, Interest Rate Rises Read More
