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.
StateJournal reports from West Virginia Governor Earl Ray Tomblin has extended the executive order that suspends the consumer sales service tax and use tax on manufactured and modular housing purchases, as well as on certain building materials, in the wake of the flooding and wind damage that hit the state …
LasVegasSun tells us Mountain View Community MHC in Henderson, Nevada changed hands earlier this year when Hometown America Communities sold the property to Equity Lifestyle Properties, Inc. (ELS). Leases under Hometown America stipulated that rents could increase a minimum of 3.5 percent with 90 days notice. ELS has told residents …
KeystoneEdge in Pennsylvania reports Ben Franklin Technology Partners of Northeastern Pennsylvania invested $60,000 in high-end modular home builder Taylored Building Solutions in Taylor, Lackawanna County, to update a computer program for tracking financial functions. Ben Franklin Technology Partners (BFTP) is a venture capital investment company that partners start-up tech firms …
Investors gained hope that central banks, including the Federal Reserve, will provide additional liquidity to financial markets if necessary in the wake of elections in Greece on Sunday, as all three indexes registered gains. CNNMoney tells us the Dow Jones Industrial Average gained +155.53 points, +1.24%, to close at 12,651.91. …
Nobility Regains Crown; Most Tracked Housing Stocks Rise Read More
RealtyTrac tells NationalMortgageNews foreclosure filings for May 2012 numbered 205,900, the highest rate in three months, a rise of nine percent from April, but four percent lower than May 2011. Default notices and scheduled auctions increased to 109,000 in May, a 12 percent increase over April and 16 percent more …
Bloomberg News says following the burst of the housing bubble that put almost 25 percent of U. S. mortgages underwater, home equity in the first quarter rose to $6.7 trillion, its highest level since 2008, as homeowners refinanced their mortgages in droves, the biggest jump, percentage wise, in 60 years. …
Over a year has gone by since IBISWorld (infamously) predicted the demise of Manufactured Housing (specifically MH retailers) along with nine other industries, including print newspapers. The recent announcement that Advance Publications will cut 600 jobs among four newspapers underscores the valid concerns abut the weakening potential future for pring …
A Year later: IBISWorld, Manufactured Housing and Print News. Read More
Harvard University’s Joint Center for Housing Studies says the $2.8 trillion rise in household wealth last quarter, state revenues expecting to exceed pre-recession levels of five years ago, and the nation’s service sector continuing to grow all trump the static unemployment rate and Europe’s debt crisis, and indicate an economy …
Mortgage Bankers Association (MBA) says the low interest rates led to mortgage applications climbing by 18 percent on a sequential basis for the week ending June 8, 2012, according to NationalMortgageNews, a rate not seen since April 2009. MHProNews.com has learned the increase is seasonally adjusted. Although refinancings accounted for …
All three indexes lost under one percent as investors sold off near the end of the trading day, worrying about the continuing debt crisis in Europe and falling oil prices. CNNMoney tells us the Dow Jones Industrial Average lost -77.42 points, -0.62%, to close at 12,496.38. The Nasdaq fell -0.86 …
The MarionStar in Marion, Ohio tells MHProNews.com the 1,525 square foot modular house that students in construction technology at Tri-Rivers Career Center have been building since Jan. 2011 will be auctioned off June 18. The three bedroom, two bath home is based on a design from Unibilt Industries. The buyer …
The National Association of Home Builders (NAHB)/First American Improving Markets Index (IMI) states the number of metropolitan areas displaying sustained and measurable improvement for at least six straight months fell from 100 in May to 80 this month. Of the 100, 52 remain on the list, and the 28 added …
The State Journal-Register in Springfield, Illinois says Timber Creek Living MHC in Springfield won the Community of the Year Award for the Midwest at the 2012 Manufactured Housing Institute’s (MHI) National Congress and Expo for Manufactured and Modular Housing. The 55-and-older community is comprised of 200 residents living in 125 …
9and10news from Michigan reports Lippert Components, Inc. out of Goshen, Indiana announces Jeffey Few has been hired as the newly-created Director of Product Development to hone in on state-of-the-art technology and automation in design, machinery, and production. Few has experience in automotive and architectural design as well as a strong …
HousingWire tells MHProNews.com Zillow reports the 30-year fixed rate mortgage (FRM) dropped three basis points from 3.59 percent last week to 3.56 percent. The rate for a 15-year FRM hit 2.95 percent, while a 5-1 adjustable-rate mortgage (ARM) landed at 2.68 percent. Zillow Mortgage Marketplace Director Erin Lantz said she …
Berkshire Hathaway has offered to purchase the loan portfolio and mortgage division of Residential Capital LLC, known as ResCap, which filed for bankruptcy last month, according to Bloomberg BusinessWeek. A subsidiary of Ally Financial Inc., which make loans to auto buyers and finances auto inventories, and which itself is owned …
OriginationNews tells MHProNews.com primarily as the result of lost home equity, the median net worth of American families plummeted from $126,400 in 2007 to $77,300 in 2010, a drop of 38.8 percent in just three years. According to the Federal Reserve’s Survey of Consumer Finances in 2010, three-fourths of the …
All three indexes registered gains over one percent today despite continuing concerns of investors over the fate of Spain’s banking system, and now the possible bailout of Italy. CNNMoney tells us the Dow Jones Industrial Average gained +162.57 points, +1.31%, to close at 12,573.80. The Nasdaq rose +1.19 percent to …
Harkening back to a story we have covered several times, the last being May 29, 2012, the RapidCityJournal reports from Box Elder, South Dakota, the Box Elder Planning and Zoning Commission continues to have questions abut Bob Akers’ Wagon Wheel Estates MHC being converted from 125 factory-built homes to 175 …
Following the 2011 flooding of the Souris River in North Dakota, NorthDakotaRealEstateRama says the acute housing shortage due to the oil boom led to the Federal Emergency Management Agency (FEMA) bringing in over 2000 manufactured homes to house the survivors. Often after a catastrophe FEMA will locate rental housing/motels for …
