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.
Retail sales in June fell -0.5 percent from last month, resulting in a tepid day on Wall Street as all three indexes lost a little ground. CNNMoney tells us the Dow Jones Industrial Average dropped -49.88 points, -0.39%, to close at 12,727.21. The Nasdaq fell -11.53 points to 2,896.94, while …
Contributions to the RV/MH Hall of Fame and Museum have reached 90 percent of the $100,000 Ingram Family Challenge Grant. When Darryl Searer, president of the Hall, asked for a couple of angels to step forward on July 3, he got his wish: Roy Beck, retired co-founder of The Beck …
Noting the number of first-time home buyers has dropped 20 percent since 2009, the John Burns Real Estate Consulting firm tells Bloomberg’s BusinessWeek home ownership for 25 to 34 year-olds will continue to fall trough 2015. Staggering student loan debt—federal student loan debt has increased 360 percent since the beginning …
According to the Chicago Tribune, RealtyTrac reports of the homes sold in the first quarter of 2012 nationwide, 26 percent were foreclosed properties, an eight percent increase over 2011. While last year short sales accounted for nine percent of homes sold, this year that has increased to 12 percent in …
IstockAnalyst tells MHProNews.com Universal Forest Products, Inc. (UFPI) is anticipated by Wall Street to announce a $0.71 per share earnings report for second quarter, 2012 before the market opens Fri. July 20 with a conference by management immediately following. But iStockAnalyst‘s Rich Bieglmeier expects the report will be $0.84 per …
RVDailyReport says Kinro, Inc., a subsidiary of Drew Industries, Inc. and supplier of components for the recreational vehicle (RV) industry, announces that it has acquired the thermoforming design and production operation of Agile Vehicle Modifications, which produces plastic components for the original equipment manufacturer (OEM) and the aftermarket industry. Acquisition …
The Joint Center for Housing Studies at Harvard University says the echo boomers, those born between the late 70’s and early 90’s, while many live with parents, are no less interested in owning their own homes than past generations, and will drive the housing market in the near future. Numbering …
In addition to Atlanta’s Federal Reserve Bank’s president suggesting stimulus may be coming, JPMorgan Chase’s announcement of a stronger-than-expected earnings report sent all three indexes up well over one percent at week’s end. CNNMoney tells us the Dow Jones Industrial Average gained 203.82 points, +1.48 percent, to close at 12,777.09. …
Most Tracked Housing Stocks Rise Along with Indexes Read More
In its Washington Update, the Manufactured Housing Association for Regulatory Reform (MHARR) is seeking federal support for public and private chattel lending to expand capital, liquidity, and number of lenders for the low to moderate income manufactured home buying market. Noting it is not likely for any major policy change …
MHARR to HUD: You’re Not Hitting the Nail on the Head Read More
Lotwenterprise reports that modular builder Wincrief Homes of Kenora, Ontario, Canada received its certification from the Canadian Standards Association to supply municipalities and First Nation peoples with modular homes. Unlike the company’s ready-to-move (RTM) homes, modular homes are eligible for financing through banks. A subsidiary of Wincrief Forestry Products, the …
Arizona Daily Star says the median rice of homes in Tucson rose 11 percent from last June to $140,000, but was unchanged from May, according to the Tuscon Association of Realtors Multiple Listing Service. The number of days a house is on the market fell to 68 in June from …
Following up on a story we began covering Sept. 2011 that we last covered June 28, 2012, the Edgeway Mobile Home Park in Middleboro, Massachusetts, will be licensed for the first time since 2004, as SouthCoastToday tells MHProNews.com. The MHC was never completed according to the plan submitted to the …
MHC License Returns, but Residents Remain Skeptical Read More
Benzinga reports Warren Buffett has changed his tune from a year ago when he noted most everything in the economy was improving except residential housing, for which he now sees a demand in the rental market. He says although Europe is in worse shape now than six weeks ago he …
NationalMortgageNews reports RealtyTrac says foreclosure activity dropped eight percent in Q2 2012 from a year ago. 608,235 foreclosure filings—default notice, auction sale notice, or bank repossession—were reported on U.S. properties Q2 2011, as compared to 558,310 for this year’s filing. MHProNews.com has learned while banks repossessed 40,000 fewer properties in …
Foreclosures Remain a Threat to Stabilizing Prices Read More
Investors remained worried that the European summit last month will not produce a rescue plan for the euro currency union amid concerns about corporate returns in this country, as all three indexes lost a little more ground. CNNMoney reports the Dow Jones Industrial Average dropped -31.26 points, -0.25%, to close …
Most Tracked Housing Stocks Gain, While Indexes Fall Read More
Following a story we last published Sept. 19,2001 concerning the five year battle over a proposed development of two MHCs in Oxford, Connecticut, Garden Homes Management has resubmitted plans for the property, this time proposing 126 manufactured homes, reports the oxford-ctpatch. Opposition has come from the neighborhood and the Oxford …
Speaking for the Manufactured Housing Institute (MHI) at a hearing on the impact of Dodd-Frank mortgage requirements before the House Financial Services subcommittee on Financial Institutions and Consumer Credit Wed. July 11, Tom Hodges, General Counsel for Clayton Homes, suggested Congress create a secondary market for manufactured home buyers so …
Benzinga reports Wed. July 11 BMO Capital Markets downgraded Sun Communities, Inc. to market perform from outperform and repeated its $45.00 target. Benzinga compliments Sun on its balance sheet metrics, dividend coverage, and net operating income (NOI), and notes its affordable housing option continues to thrive. Sun (NYSE: SUI) closed …
Standard & Poor’s Case-Shiller Index showed slowing declines in home prices earlier in the year, and Zillow‘s survey of economists are expecting an 0.4% decline through this year, but JPChase analysts say the 4.8 million homes in the shadow inventory will drag prices down another two percent this year as …
Following up on a story we posted yesterday, July 10, yourdailyjournal reports the Rockingham (North Carolina) City Council denied a request from Charles Seago to rezone land from business to residential so he could site four additional manufactured homes on the property on which he already has five MH. Although …
