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.
The Manufactured Housing Institute (MHI) newsletter reports an article in the Wall Street Journal says access to credit may be the key to U.S. economic recovery. Noting those who already have access are taking advantage of the low interest rates, while millions more with limited access cannot take advantage of …
NationalMortgageNews reports the Census Bureau released figures stating single-family housing starts rose 3.2 percent in May to a seasonally-adjusted annual rate of 516,000, above the saar of 500,000 for April. This marks the third consecutive monthly increase. Single-family starts are up 26% overall from a year ago. Meanwhile, multi-family starts, …
Sunday’s election in Greece that put a pro-bailout party into office gave investors room to breathe. Now the hope is a stimulus package will emerge from the current Federal Reserve meeting. CNNMoney says those two hopes fed U.S. stocks, as the Dow Jones Industrial Average gained +95.51 points, +0.75%, to …
LA Pacific, Housing Composite Move Up; Three Indexes Gain Read More
Gizmag says a Chinese company will construct the world’s tallest building in just 90 days using modular construction. The Broad Group says the 2,750 foot Sky City One will stand 33 feet taller than the current tallest building, the Burj Khalifa in Dubai, named after UAE (United Arab Emirates) President …
The Manufactured Housing Association for Regulatory Reform (MHARR) reports that despite the 2008 Congressional “duty to serve” (DTS) directive to the government-sponsored enterprises (GSEs) to establish a secondary market for manufactured housing, including chattel loans, the proposed implementation rule published by the Federal Housing Finance Agency (FHFA) two years ago …
Fannie Mae’s chief economist Doug Duncan, while noting home sales are up eight percent over last year, anticipates home prices will continue to fall through this year and bottom out in the beginning of 2013. Fannie’s Economic and Strategic Research Group cites the stagnation in the job market, sluggish income …
Because so much of the net worth of middle-class Americans is connected to home equity, the housing downturn led to household net worth falling from $102,844 in 2005 to $66,740 in 2010, as house prices have fallen 35% below their peak in 2006, according to Standard & Poor’s/Case-Shiller index. While …
Community development lenders and investors might be eligible for $200,000 grants each from the departments of Agriculture, Treasury and HUD to replace some of the worst housing in the nation—worse than urban slums or some Indian reservations: It’s the “colonias” areas of the U.S. border with Mexico. Likely to be …
MHProNews has learned from the National Association of Home Builders (NAHB) their Wells Fargo Housing Market Index (HMI) reports builder confidence in the market for new, single-family homes rose one point in June, to 29, the highest level attained since May of 2007. Based on a 25 year-old survey, the …
7th Space Interactive tells us time will expire June 20 to bid on the Federal Emergency Management Agency (FEMA) excess manufactured housing units for sale by the U.S. General Services Administration (GSA). The 25 Park Models, the smallest of the two sizes generally used by FEMA at disaster sites, are …
EnterpriseNews tells us 450 MHC homeowners from two different MHCs in Carver, Massachusetts, in the southeast part of the state, may soon become their own landlords. The nonprofit ROC (resident-owned communities) is assisting in the $23 million deal for Pine Tree Village and Cranberry Village to become community-owned co-ops, which …
While the election in Greece produced a pro-bailout party win, concerns remain regarding the overall debt crisis in Europe, leading U.S. Stocks to close mixed. CNNMoney says the Dow Jones Industrial Average lost -25.35 points, -20%, to close at 12,741.82. The Nasdaq gained +0.78% to 2895.33, and the S&P moved …
Apartment Realty Advisors (ARA) created National Manufactured Housing Group (NMHG) to focus on MH and RV communities. Their new division sealed the deal on 16 MHCs in the last 12 months. From the 236 site Pocono Park in Wilkes-Barre, PA to Fairway Villas in Acworth, GA with 225 home sites, …
KnoxNews says Clayton Bank and Trust of Knoxville, Tennessee will take over the assets and operations of all four branches of Farmers Bank of Lynchburg, TN that were shut down by regulators on Friday, June 15. According to the Federal Deposit Insurance Corporation (FDIC), Farmers had $156.4 million in deposits …
DanaPointTimes reports from California the Dana Point Planning Commission approved a coastal development permit to allow siting of a 2,352 square foot modular home in Monarch Bay Terrace. Some 30 residents opposed the home, protesting it would lower property values and that it does not fit in with the other …
MROMagazine (Maintenance, Repair and Operations), a publication in support of machinery and equipment maintenance, now includes a brief profile of manufactured housing in its Research and Markets edition. It says the U.S. manufactured housing market is dominated by eight manufacturers who account for 60 percent of the annual $3 billion …
The U.S. Air Force Academy in Colorado reports a 900 square foot modular home is being constructed through the Academy’s Field Engineering and Readiness Laboratory (FERL) by 75 cadets from the Air Force, five from the Navy, and four West Point cadets as part of their hands-on training. “They start …
CNNMoney reports investors, buoyed by European Central Bank President Mario Draghi’s remarks that the bank would provide more cash to deal with problems, especially Greece’s ongoing crisis, grew optimistic, pushing U.S. stocks higher as all three indexes gained. The Dow Jones Industrial Average gained +114.28 points, +0.90%, to end the …
MSNBC reports the Adversity Index from Moody’s Analytics says the economy improved in all regions of the nation, and though not one state remains in recession, 44 of the 50 are recovering at a snail’s pace. Two states, Alaska and North Dakota are in steady recovery, but five—Rhode Island, Wisconsin, …
Slovenian architectural studio Coodo has designed a series of modules that can be coupled horizontally or vertically to provide large household space, or used separately for a playroom or guest house. The thick polyester panels stretched over a galvanized steel frame provide thermal insulation. Two modules can comprise a two …
