Manufactured and Modular Housing News

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.

California Ordinance Requires Sprinklers in MH

RedBluffDailyNews of Tehema County in north central California tells MHPronews.com an ordinance passed by the Tehema County Supervisors requires all manufactured homes produced after Jan. 1 to have a sprinkler system installed. The measure does not apply to existing manufactured homes. The ordinance also applies to multifamily homes with two …

California Ordinance Requires Sprinklers in MH Read More

New MHC Opens on Chesapeake Bay

MHProNews.com has learned that manufactured housing will be part of the Whitehouse Cove marina development project in Poquoson, Virginia, just north of Newport News on the Chesapeake Bay. Robert Brown and Associates had initially proposed building condominiums with the full service marina and the restaurant, but complications about setbacks and …

New MHC Opens on Chesapeake Bay Read More

CFPB’s Cordray Attempts to Allay Congressional Fears

HousingWire tells MHProNews.com Consumer Financial Protection Bureau (CFPB) Director Richard Cordray, appearing before a House subcommittee, says he is examining the exclusion of smaller banks from regulations targeted at larger firms responsible for the housing crisis. He says the bureau will analyze how the rules might impact banks with assets …

CFPB’s Cordray Attempts to Allay Congressional Fears Read More

North Carolina has Highest Percentage of Manufactured Homes

ConnecticutPost tells MHProNews.com Hawaii ranks at the bottom of the list in terms of manufactured homes as a percentage of all housing with only .02 percent, followed by Connecticut, Massachusetts, and Rhode Island with .08 percent, according to 2010 U.S. Census figures. The figure for Connecticut fell from .09 percent …

North Carolina has Highest Percentage of Manufactured Homes Read More

European Cloud Continues Gloomy, while Mfg. Housing Composite Gains

The Greek debt in particular and the ongoing debt crisis in Europe overshadowed trading on Wall Street, as CNNMoney reports the Dow Jones Industrial Average fell 33.07 points, -0.26 percent , to end the day at 12,675.75. The NASDAQ gained 0.09 percent, while the S&P fell -0.10 percent. Meanwhile the …

European Cloud Continues Gloomy, while Mfg. Housing Composite Gains Read More

Two MHCs Rank First and Second in Dividend Yield Among Residential REITs

FinancialNewsNetwork has informed MHProNews.com that two of the three top residential real estate investment trusts (REITs) that have the highest dividend yield in the industry are MHC owners. UMH is number one with a dividend yield of 7.9 percent. UMH has a portfolio of 39 manufactured home communities in New …

Two MHCs Rank First and Second in Dividend Yield Among Residential REITs Read More

Real Estate Appraisal Process Needs Repair

The National Association of Home Builders (NAHB) tells MHProNews.com the Government Accountability Office (GAO) reports the lack of government oversight of real estate appraisals has resulted in inaccurate home valuations. Both builders and realtors note 18-33 percent of appraisals have been inaccurate, resulting in cancellations and delays in contracts. A …

Real Estate Appraisal Process Needs Repair Read More

Developer Plans MHC in Santa Fe

SantaFeNewMexican tells MHProNews.com real estate developer Jeff Branch wants to turn his 40 acre tract on the southwest side of Santa Fe, New Mexico, into a manufactured home community. He purchased the property in 2006 and received approval for 222 site-built homes from the city but has been unable to …

Developer Plans MHC in Santa Fe Read More

MBA Wants the 20 Percent QRM Proposal Dropped

Mortgage Bankers Association (MBA) chief executive David Stevens, noting the current 20 percent downpayment requirement is “a direct attack on first-time homebuyers, African-American borrowers and Latinos”, says it will make it more difficult to attract teachers, firefighters, and healthcare workers to new jobs in communities. NationalMortgageNews tells MHProNews.com Stevens says …

MBA Wants the 20 Percent QRM Proposal Dropped Read More

Sun to Release Q4 Earnings Report

Reuters informs MHProNews.com that real estate investment trust (REIT) Sun Communities, Inc. (NYSE:SUI) of Southfield, Michigan will release its fourth quarter 2011 earnings statement on Thursday, Feb. 23, 2012 before the market opens. At 11 AM that same morning a conference call will be held to discuss the earnings statement. …

Sun to Release Q4 Earnings Report Read More

Greek Tragedy Haunts Dow, while Patrick Industries Nicely Rises

Still stymied by the specter of Greek debt, investors backed off as all three indexes registered minor movement on either side of break even. CNNMoney reports the Dow Jones Industrial Average fell 11.66 points, -0.09 percent, to close at 12,708.82. The NASDAQ fell -0.09%, while the S&P gained +0.05 percent. …

Greek Tragedy Haunts Dow, while Patrick Industries Nicely Rises Read More

Modular Homes Provide Relief for Flood Victims

CTV in Winnipeg, Manitoba, Canada tells MHProNews.com that people displaced by the flooding of Lake Manitoba eight months ago are finally getting a more permanent place to live. Manitoba Housing has brought in 15 modular homes to house flood victims in St. Laurent on the southeastern edge of the lake. …

Modular Homes Provide Relief for Flood Victims Read More

Modular Home Construction Compliance Found Lacking

CapeCodTimes tells MHProNews.com a couple in South Yarmouth, Massachusetts, purchased a modular home from a company in Pennsylvania and allege that it was fraught with manufacturing defects. Upon receiving delivery of the home and noticing problems, they contacted the Massachusetts Department of Safety who ordered the house gutted to evaluate …

Modular Home Construction Compliance Found Lacking Read More

Common Denominator for Six Massachusetts Towns May Soon Include Seventh

Easton, MA is poised to join six other southeastern MA communities by instituting rent controls in MHCs. By-laws that regulate rents, evictions, and minimum standards of operation are under the auspices of a town-appointed board. Boston tells MHProNews.com a 1994 referendum in MA eliminated most forms of rent control, but …

Common Denominator for Six Massachusetts Towns May Soon Include Seventh Read More

Plans for Once Denied MH Community Approved

As follow-up to an article we wrote Jan. 16, 2012 about a revived proposal shelved ten years ago to develop an MH community in Ormond Beach, Florida, the Volusia County Council approved plans for the community Jan. 19. OrlandoSentinel tells MHProNews.com the area, near the “Loop”, is a scenic route …

Plans for Once Denied MH Community Approved Read More

Ohio MH Tax Bills due March 1

TimesReporter tells MHProNews.com Tuscawaras County (Ohio) Treasurer Jeff Mamarella says all manufactured home tax bills for the first half of 2012 have been mailed and are due March 1, 2012. It is the responsibility of owners of manufactured homes to pay taxes and penalties even if they do not receive …

Ohio MH Tax Bills due March 1 Read More

Clinton’s Economic Fix

MHProNews has learned from NationalMortgageNews, former President Bill Clinton’s plan to resolve the housing crisis is for underwater borrowers to receive lowered principal and interest rates that match current valuations. Once the market recovers and the house is sold, the bank would get a portion of the sale. This would …

Clinton’s Economic Fix Read More

FEMA Response To Katrina: Unwieldy, says Report

A report from Homeland Security Department (HSD) office of inspector general (OIG) says a 2006 congressionally mandated program to quickly develop housing for victims of Hurricane Katrina was doomed from the start. FierceHomelandSecurity tells MHProNews.com the $400 million Alternative Housing Pilot Program was to design an alternative to typical Federal …

FEMA Response To Katrina: Unwieldy, says Report Read More

All Three Stock Indexes Gain 2% for Week; Mfg. Housing Composite Breaks 800 Mark

Despite ongoing talks about resolving the Greek debt, CNNMoney reports the Dow Jones Industrial Average rose 96.5 points, +0.76 percent, to close at 12,720.48. The NASDAQ fell -0.06%, while the S&P gained +0.07 percent. The Yahoo! Finance Manufactured Housing Composite gained +2.89 percent to close at 806.3. Tracked housing stocks …

All Three Stock Indexes Gain 2% for Week; Mfg. Housing Composite Breaks 800 Mark Read More

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