U.S. Markets Closed Today
In observance of Independence Day, U.S. stock exchanges are closed today. They will reopen tomorrow at 9 AM. Happy Birthday America! (Photo credit: Wikipedia Commons)
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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.
Housing Market Poised for Recovery
Bloomberg News states while construction shrank and mortgage approvals declined in May in the United Kingdom due to economic uncertainty there, 4.6 million homes changed hands in the U.S. in May at a seasonally-adjusted annual rate, according to a report from the National Association of Realtors (NAR). The average 30-year
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Debby Damages MHC in Florida
TBO reports Tropical Storm Debby swept through Suncoast Gateway Mobile Village in Port Richey, Florida, damaging the underside, insulation, under support, and air conditioning units of many of the homes. President Obama declared a major disaster area in five Fla. counties, making them eligible for federal funding including low-cost loans
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Oil Boom Repercussions
While business may be good for housing suppliers to the oil and energy field projects in north central U.S., increasing populations of mostly single men in North Dakota are drawing a mixed reaction, Ohio tells MHProNews.com. With a population grown from 12,500 to over 20,000 in four years, primarily due
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NY Funds to Replace pre-HUD Code Homes
The DailyNewsOnline reports a $400,000 New York state grant to replace pre-1984 factory-built homes with new MH will be directed by Genesee Counties’ Housing Initiative Committee in collaboration with the non-profit Pathstone Corporation. The goal is to replace eight owner-occupied homes in Genesee and Orleans Counties with energy-efficient units. There
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Dow and Most Tracked Housing Stocks Gain on Short Trading Day
An increase in factory orders and strong auto sales boosted investors’ confidence for a shortened trading day that ended at 1 PM in anticipation of the Independence Day holiday, as all three indexes closed on a positive note. CNNMoney tells us the Dow Jones Industrial Average gained +72.43 points, +0.56%,
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Over $62k has been Raised
RVBusiness reports the RV/MH Hall of Fame & Museum has garnered $62,740 since the initiative began May 1 in its fundraiser goal to meet the Ingram family’s $100,000 Challenge Grant. June donations totaled $6,800 including $2,750 in the Hall’s “Walk of Fame” Brick Program donations. Darryl Searer, president of the
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MH Shipments Rise Again
According to the Manufactured Housing Institute’s (MHI) monthly report, shipments of manufactured homes rose to 5,211 for May, an increase of 16.7 percent over May 2011, as well as an increase over the 4,630 manufactured homes shipped in April 2012. MHProNews.com has learned this marks the tenth consecutive month of
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Court Rules in MHC Owner’s Favor
DaytonaBizLaw reports the Fourth District Court of Appeals in Florida, in the case of Hanrahan vs. Hometown America, LLC, involving a property owner’s responsibility to protect a tenant from insects, ruled in favor of Hometown America. A resident was attacked by a swarm of red ants that evidently led to
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Sun Rises
SmarTrend tells MHProNews.com 63,000 shares of Sun Communities (NYSE:SUI) traded hands early today as the stock hit a 52-week high of $45.19. Trading in a range from $30.49 to $45.19 over the past year, the stock has risen 47 percent over the lowest share price. The 50-day moving average (MA)
Pace Quickens for New Home Sales
RealtorMag reports the Commerce Department says new, single-family home sales rose to 7.6 percent in May, the best pace since April 2010, and up 20 percent year-over-year. New home prices are rising as well: Prices increased 5.6 percent over last year, and are now at a median price of $234,500.
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Home Prices Nudge up in May
OriginationNews states the CoreLogic House Price Index (HPI) notched its third consecutive monthly increase as house prices rose 1.8% in May, an increase of two percent over May 2011, and is expected to rise another 1.4% in June. Anand Nallathambi, president and chief executive officer of CoreLogic says the limited
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All But One Tracked Housing Stocks Close Up
The drop in U.S. manufacturing activity in June for the first time in almost three years was tempered by investors’ hopes the Federal Reserve would provide some stimulus for the sluggish economy, as stocks closed mixed for the first day of the second half of 2012. CNNMoney tells us the
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Modular Plant Opens in Idaho
Following up on a story we published April 5, 2012 concerning ATCO Structures and Logistics of Alberta, Canada opening a modular production facility in Pocatello, Idaho, Manufacturing reports the Idaho State Journal says ATCO held a ribbon-cutting ceremony Wed., June 27 attended by Pocatello Mayor Brian Blad and company CEO
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FHA Loan Restrictions Eased
According to the Arizona Daily Star, the tough new Federal Housing Authority (FHA) loan restrictions that could have negatively affected one third of mortgage applications have been lifted to be replaced with a more lenient policy. Scheduled to have taken effect July 1, 1012, the original plan would have required
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Glitzy News from our Sister Industry
RV Business reports the 36 foot trailer that Elizabeth Taylor used for her dressing room during the filming of Cleopatra in 1963 sold at auction recently for $51,660. Twentieth Century Fox was said to have spent $75,000 to lavishly outfit the Aljo trailer with full columns mounted on the walls,
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Is the Gold Tarnishing at Golden Homes?
The NorthKitsapHerald reports from Poulsbo, Washington incorrect serial numbers on a house, an MH paid for but not delivered, incomplete contracts, purchase and sale agreements withheld, and uncompleted work on a manufactured home are all charges being leveled at Kelly Rohr, owner of Golden Homes of Poulsbo, just outside Seattle.
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Sun Announces Quarterly Dividend
REIT (real estate investment trust) Sun Communities, Inc. reports from Southfield, Michigan its board of directors has declared a quarterly dividend of $0.63 per share for the second quarter of 2012, payable July 20, 2012 to share holders of record July 10, 2012. According to RTT News, Sun reported a
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CFPB to Require more Transparency in Reverse Mortgage Market
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
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Stocks Roar into Second Half of 2012; Housing Stocks Respond Well
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
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