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.
StLToday says the Joplin Globe reports some homeowners in tornado-ravaged Joplin, Missouri are up in arms because modular homes are being sited next to more expensive houses. In one case a Habitat for Humanity low-income home was built across from a $280,000 house, and a modular home of lesser value …
In the biggest gain since Jan. 3 when the Dow rose 180 points, CNNMoney tells MHProNews.com the Dow Jones Industrial Average moved up 160.90 points, + 1.23 percent, to close at 13,241.63, as Fed Chairman Ben Bernanke indicated to a group of economists the interest rate will remain low for …
Dow Posts 2nd Biggest Gain of Year; UMH and Patrick Rise as Well Read More
Although it requires twice the manpower, takes three times longer, and nearly doubles the cost to deconstruct a home than demolish it, a Cleveland company, A Piece of Cleveland, and the Cleveland Institute of Art are conducting a test program to make furniture, mill work, and other items from the …
BloombergBusinessNewsweek tells MHProNews.com manufactured housing shipments rose in Jan. to a seasonally-adjusted annual rate (SAAR) of 60,000, up from 59,000 in Dec. 2011. The number of placements remained the same at 48,000, and dealer inventory was unchanged at 22,000, all SAARs. The average median sales price fell from $62,600 to …
In an rent vs. buy index of the 100 largest metropolitan areas in the nation, Trulia has determined it is a wiser decision to buy in 98 of them. The top ten cities where buying a home is a better deal: Detroit, Oklahoma City, Dayton Ohio, Warren-Troy-Farmington Hills Michigan, Toledo …
Building Code Commissioner for Iowa’s Department of Public Safety, William “Stuart” Crine passed away March 20 at age 51. He previously was a Tennessee State Fire Marshall. Joe Kelly, of the Manufactured Housing Association of Iowa, said Stuart was the only full time building code commissioner for many years. “Stuart …
Stocks ended the week higher and the Yahoo Finance Manufactured Housing Composite Index gained nearly three percent. The gain was recorded in energy stocks which offset a report showing purchases of new homes unexpectedly fell. Stocks related to the manufactured housing industry that ended the week on the upside include …
OriginationNews states according to the Mortgage Bankers Association (MBA), mortgage applications for the week ending March 16 fell 7.4 percent. The refinance share fell to 73.4 percent, the lowest reading since July, 2011, both attributable to the rise in the interest rate. Says MBA chief economist Jay Brinkmann, “With rate/term …
According to HousingWire, Freddie Mac says the 30-year, fixed rate mortgage (FRM) rose from 3.92 percent last week to 4.08 percent this week, the first time it has averaged above four percent since last October. One year ago it was 4.81 percent. The 15-year FRM edged up from 3.16 percent …
Despite unemployment claims hitting a four-year low, investors were more concerned about economic growth hitting a soft spot in China and Germany, causing alarm among investors. CNNMoney tells MHProNews.com all three markets lost ground today, as the Dow Jones Industrial Average dropped 78.48 points, -0.60 percent, to close at 13,046.14. …
NationalMortgageNews tells MHProNews.com Bank of America/Merrill Lynch Global Research analysts say home prices fell 3.2 percent in the second half of last year, but adds prices will bottom out this spring. Last Nov. B of A said housing prices would fall another 4-5 percent this year, but now says but …
B of A: Housing Recovery Happening, as it Heads for the Back Door Read More
In a short video, Baristanet informs MHProNews, Fredco Modular Homes of Passaic, New Jersey details the erection of an Excel four bedroom, two bath, two-story modular home in one day. Since 1979 the Fredco Group has been involved in site development, golf course/sports field construction, and landscaping/hardscaping, including the construction …
In an article by Reuters in the NYTimes, MHProNews.com has learned home building permits rose 5.1 percent in February, giving rise to economists predictions that home building could contribute to economic growth for the first time since 2005. The adjusted annual rate (AAR) of 717,000 units last month, the highest …
Housing Industry Continues to Remove Bandages of Bruising Market Read More
A legal debate is brewing in a Mississippi court regarding the distinction between a modular home and a manufactured home as it pertains to a restrictive covenant in a subdivision. In a case going back to 2006, developers Hudson Holliday and Darrin Harris filed a complaint to have home owners …
Stocks closed modestly lower Wednesday and the Yahoo Finance Manufactured Housing Composite Index remained unchanged. Those closing higher included Affiliated Managers Group, up .60 cents (.54 percent) to $112.19; Equity Lifestyle Properties, up .09 cents (.13 percent) to $69.14; Patrick Industries, up .41 cents (3.98 percent, making it the day’s …
According to The Wall Street Journal, the manufactured housing industry may be poised for a rebound. Noting the 42.1 percent increase in MH sales Jan. 2012 over Jan. 2011, and the corresponding six percent decrease of new single-family stick built homes in 2011, the article says home buyers may be …
WoodworkingNetwork informs MHProNews.com Universal Forest Products, Inc. (UFPI) has instituted a software system to document usage of 300 production tools. The new system, called Intooligence, and developed by an Elkhart, IN company of the same name, maintains a database of serial numbers of cutterheads, links to knife sets, keeps track …
The AtikokanProgress reports to MHProNews.com from just north of Duluth, Minnesota, in Canada, the Ontario Municipal Board (OMB) dismissed a homeowner’s appeal of a bylaw that would have restricted placement of modular homes. The town had approved the amendment requested by owners of a former MHC who want to build …
News that building permit requests had risen in the U.S. was not sufficient to counter investors’ fears that China might be entering a manufacturing slowdown, sending the Dow Jones Industrial Average down 68.94 points, -0.52 percent, to 13,170.19, according to CNNMoney. Nasdaq lost -0.14 percent to end at 3074.15, and …
Deer Valley Slides, Skyline Falls, Despite Rise in Building Permits Read More
As follow-up to a story we published Feb. 10, 2012, Joe Kelly, executive vice-president of the Manufactured Housing Association of Iowa (MHAI), tells MHProNews.com Iowa’s legislative bill HF 2013 will establish a fund for consumers to borrow money to purchase a manufactured home through the Iowa Finance Authority. The bill …
