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.
While extending one of their stimulus programs, hopes that the Federal Reserve would announce a more aggressive bond buying plan to support the economy fell flat, as did U.S. stocks today. CNNMoney tells us the Dow Jones Industrial Average dropped -12.94 points, -0.10%, to close at 12,824.39. The Nasdaq rose […]
Dow Drops, Skyline Falls, Gains are Meager Read More
The KingmanDailyMiner says the Kingman City Council has entered into an agreement with the Arizona Office for Manufactured Housing to set fees for MH placements, inspections, and renewals. An MH placement permit with three inspections was set at $300. Additional inspections would cost $47 each, and a six month MH
Fees Proposed for MH Siting Read More
NewsTimes tells us one of the strongest wind zones in the Northeast is on lower Cape Cod in Massachusetts, where winds during hurricane season typically reach 120 mph. A vacation home now being built by Modular Architecture of Wilton, Connecticut, with a spectacular view of the ocean front will feature
Gorgeous Modular Fortress Read More
Harking back to a story we posted May 3, 2012, the Delaware House of Representatives was considering a bill that would require approval from the Governor’s Advisory Council on Manufactured Housing for any increase in rent at an MHC beyond the consumer price index. DelawareFirst tells MHProNews Senate Bill 205,
MHC “Rent Justification” Defeated Read More
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
Lack of Credit Access Hindering Recovery Read More
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,
Single-family Starts Rise in May Read More
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
World’s Tallest Building will be Modular Read More
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
Housing Recovery? Not So Fast Read More
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
Middle-class Americans Net Worth Falls Read More
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
Enter, Manufactured Housing? Read More
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
Home Builders Confidence Inches Up Read More
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
GSA Selling Excess FEMA Homes Read More
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
Set of MHCs Becoming Resident-owned Read More
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
Patrick Soars, Nobility Falls, Indexes Waffle Read More
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,
3 more MHC Contracts Closed Read More
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
TN Bank Snapped Up by Clayton Read More
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
Modular Home Approved Despite Objections Read More
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
MRO Now Includes MH Report Read More
