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.
NationalMortgageNews reports senior citizens, the primary target of reverse mortgages, do not fully understand its risks and features and the tradeoffs involved, leading the Consumer Financial Protection Bureau (CFPB) to plan stronger disclosure requirements. In a conference call with reporters, CFPB Director Richard Cordray said, “They may focus primarily on […]
CFPB to Require more Transparency in Reverse Mortgage Market Read More
Investors applauded the deal reached by European leaders to assist struggling banks, pushing the Dow Jones Industrial Average up by nearly 300 points. CNNMoney reports the Dow spiked 277.83 points, +2.20%, to finish at 12,880.09. The Nasdaq roared up a full +3.00 percent to 2,935.05, while the S&P gained +2.49
Stocks Roar into Second Half of 2012; Housing Stocks Respond Well Read More
MHProNews has just learned of the passing of George Goldman on May 6, 2012. Entrepreneur, real estate investor, and philanthropist, Goldman, 80, owned several MHCs in the Midwest as well as Woodall’s Guide, a comprehensive guide to RV campgrounds, parks, parts and service that he developed, and that originally listed
Passages: George Goldman Read More
MHProNews has learned that the HUD Multi-Family Staff pre-approves loan for refinancing and rehabilitation, in this case, of the first manufactured home land lease community. The new loan will provide $4.2m in funding from a private lender for a resident owned cooperative located on popular Bainbridge Island in Puget Sound. MHProNews.com
$4.2M 207M Loan Approval by HUD Read More
Benzinga asks if investors should buy stock based on what Warren Buffett’s Berkshire Hathaway purchases. Alex Shek reports that on May 15, Berkshire reported General Motors and Viacom were added to its portfolio as of March 31. The obvious first question is, can it be worthwhile to buy what may
Whale Watching May not be Good Investment Strategy Read More
Quad-Cities reports from Rock Island, Illinois, just across the Mississippi River from Davenport, Iowa, taxes for manufactured homes are due in the Rock Island County Treasurers Office July 9, 2012. Payments postmarked July 9 will not be considered late. State law imposes a fine of $25 per month, or any
Considered the toughest in the nation, Alabama’s immigration law requires state regulatory boards to check the residency status of everyone who is licensed to do business in AL. NECN reports the Alabama Manufactured Housing Commission (AMHC) is one of several that has not been compliant in enforcing the law. Jim
AL Regulatory Boards Lax on Enforcement Read More
The decision by the U.S. Supreme Court this morning to uphold the individual mandate and the Patient Protection and Affordable Care Act (PPACA) went against the National Federation of Independent Business (NFIB) and 26 states in their argument before the Justices challenging the constitutionality of the measure. Yahoo!News reports Dan
Supreme Court Decision Angers Many Read More
Following up on a story we published Sept. 23, 2011 concerning Edgeway Mobile Home Park in Middleboro, Massachusetts and the decade-long plus battle between the family owners and the Board of Selectmen over the construction of the community in 1995 that was never completed, the Superior Court judge who has
MHC May Finally be Completed Read More
Today’s U.S. Supreme Court decision upholding the ObamaCare health plan prompted a sell- off of U.S. stocks as investors fear it will cost the government more, thereby further delaying the economic recovery everyone wants. Nonetheless, CNNMoney reports the Dow climbed back towards the end of the day, losing -24.75 points,
Skyline Rises, Deer Valley Hits a Stump Read More
From Canandaigua, New York writing in MPNnow, Don Semifero offers percentages of differences between a site-built and a manufactured home to make his case to the Victor, NY assessor that they should be assessed at different rates. He ticks off the percentages MH owners lose: 2-3 percent for not owning
MH Should Assess Less than Site-Built Read More
Following a Daily Business News post from June 18, 2012 about two MHCs in Carver, Massachusetts being snatched from the jaws of Equity Lifestyle Properties and becoming co-operatives, MHProNews has learned from boston, according to MA law, MHC residents have the first right of refusal if their community is being
And Now for the Rest of the Story…….. Read More
Daily Mercury reports from Australia, housing solutions company Tektum has developed a modular house with two to four bedrooms, 80% complete when it leaves the factory in one and one half standard shipping containers, and occupancy-ready within several days. The homes feature solar water heating, double-glazed windows, rain water recycling
Aussie Modular for Residential or Industrial Housing Read More
In a New York Times article by John Markoff about Google’s “American Made” production of its wireless home media player, Harold L. Sirkin of Boston Consulting Group said in April one third of American companies with revenue over one billion are planning/considering returning their manufacturing operations to the U.S. The
Domestic Mfg: Rearing it’s Lovely Head? Read More
GoBogolusa reports the Bogolusa, Louisiana City Council voted 5-2 to permit modular homes in all residential districts of the city, although manufactured homes are not permitted. The state fire marshal has given its OK, but restrictions by the public works department include the houses must face the street and must
Bogolusa Allows MOD, Prohibits HUD Read More
The highest pending home sales rate in two years in May, and a rise in durable goods orders, trumped the fear wafting across the Atlantic from the troubled Eurozone, as all three indexes pushed higher on hump day. CNNMoney tells us the Dow Jones Industrial Average gained +92.34 points, +0.74%,
All Three Indexes and Many Housing Stocks Advance Read More
NJ reports from Pennsville, New Jersey township officials have unanimously voted to increase fess on manufactured homes in MHCs from $24 to $28 a month, collected by the MHC owner and then forwarded to the township. There are approximately 200 homes in the White Oaks and Southbridge communities in this
Monthly Fees Increased for MHC Residents Read More
OriginationNews reports, although it is down two percent from April 2011, Standard & Poor’s Case-Shiller housing price index (HPI) rose 1.3% in April in 19 of the 20 cities it surveys, the first increase since August. Detroit is the only city where prices fell, dropping 3.6% in April. Published by
Housing Price Index Finally Bumps Up Read More
MSNBC tells us Seth Jason at The Motley Fool says he judges company performance by comparing inventory increases to revenue increases: if inventory expands faster than sales, it could indicate a problem, one which he suggests may be happening at Cavco Industries. Trailing 12-month revenue rose 157.9% while inventory increased
Cavco’s Revenues Spiked Grandly, but…….. Read More
The WausauDailyHerald reports from Wisconsin complaints from MHC residents may be handled by a state agency or by a local or county body depending upon the number of people who have complained and the severity of the complaint. The Dept. of Safety and Professional Services handles some complaints, and sometimes
Responsibility for MHC Resident Complaints Varies Read More
