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.
UpdatedNews reports from Abbotsford, British Columbia, Canada residents of Garden Village MHC have been told their community will be closed and the land will be redeveloped. The owners have offered each homeowner $11,000, twice what the government requires, but some of the more recent arrivals say they have spent upwards …
OriginationNews tells MHProNews.com according to the Federal Reserve, single-family loans lending by the 25 largest banks has spiked this quarter, increasing $11.2 billion, at an annualized rate of 56 percent, to a non-seasonally-adjusted total of $4 trillion for the week ending May 9. Home mortgage lending was just below 40 …
RTTNews says while total revenues for Cavco Industries for the fourth quarter 2012 spiked 156% over the same period last year, from $38.8 million to $99.5 million, net profit for common shareholders was $1.65 million, or $0.24 per share, compared to $1.61 million or $0.23 per share for the same …
All three indexes gained one percent or better today as investors did not receive negative news from Europe, and hopes abound that China will support its economy. CNNMoney tells us the Dow Jones Industrial Average moved up 1.01 percent, 125.86 points, to close at 12,580.69. The Nasdaq gained 1.18 percent …
Following a story we wrote May, 8 2012 concerning a plan to replace 125 factory-built homes at the Wagon Wheel Village MHC in Box Elder, South Dakota with 166 modular units, we learn owner Bob Akers is returning to the Planning and Zoning Commission with revised plans, according to the …
The National Modular Housing Council reports shipments of new modular homes rose 18.7% compared to the first quarter 2011, hitting 2,922. Shipments by state relative to the first quarter last year indicate 16 states received more than last year, three received fewer homes, and 12 states experienced no significant change. …
The lights in the housing market in Phoenix suddenly became very bright, according to a report from Keefe, Bruyette, and Woods (KBW) that HousingWire picked up. Following discussions with home builders, banks, and developers, KBW says new home building permits are expected to rise 50 percent in 2012 , as …
Reporting on a story we have been following since May 2011, NCTimes says rent control supporters in Oceanside, California have been out in numbers demonstrating against Proposition E, a measure that will phase out rent control in all 17 of the city’s MHCs, to be decided by voters in a …
MHProNews.com reported in a story earlier today a Stone Creek Homes facility in Marshall County, Indiana south of South Bend abruptly closed its doors earlier this week, allegedly with no advance warning and without paying the 40 employees. Now word comes to us from WOWT-TV that the Stone Creek Homes …
SmartPlanet tells us graphic designer Michael McDaniel has developed a reusable, portable disaster relief shelter made of polypropylene, the same material used for soda bottles, that can sleep up to four people. The Exo Reaction Housing System has slots in the walls for attaching bunk beds that can convert into …
TahoeDailyTribune reports South Shore Capital bought Tahoe Shores Mobile Home Park near Stareline, Nevada in 2002 to develop the 17 acres into 143 condominiums. While the project awaits funding, South Shore has been buying the remaining homes and renting them out, telling residents the community could officially close at any …
WSBT-TV in South Bend reports employees of the Stone Creek Homes plant in Marshall County, IN say they were laid off this week without notice and did not get their final check. They were allegedly told to take their personal belongings, the layoffs were indefinite, and they would be called …
RVBusiness tells MHProNews.com a survey of Americans in May indicates consumer confidence rose to the highest level since Oct. 2007. The Thomson Reuters/University of Michigan index rose from 76.4 in April to 79.3 in May, the ninth consecutive increase. The study showed 63 percent of respondents may be considering making …
Earlier this month the Manufactured Housing Institute (MHI) contracted with noted legal experts SNR Denton to pursue statutory changes to the Dodd-Frank Act and the SAFE Act through the enactment of HR 3849, The Preserving Access to Manufactured Housing Act. The law firms other thrust will be to alter the …
If the House of Representatives fails to pass the 60-day extension for flood insurance that has already passed the Senate, the National Flood Insurance Program will not be able to issue new policies after May 31. The House did pass a 30-day extension of the bill earlier, but in gridlock …
CNNMoney reports continuing concerns about Greece’s financial crisis, added to fear of the possible failure of Spain’s banking system, led to the Dow Jones Industrial Average losing -74.92 points, -0.60 percent, to close at 12,454.83. The Nasdaq fell -0.07 percent to 2,837.53, while the S&P lost -0.22 percent, to 1,317.82. …
Nobility Takes Throne, MH Composite Gains, Dow Drops Read More
Moody’s Investor Service and Real Capital Analytics, basing their studies on the same commercial properties over time, say the recovery of commercial property slowed in the first quarter as prices rose only 1.8%, although they have risen 28 percent since the low point of the crisis in 2010. Apartment prices …
HousingWire tells us the government reports Americans filing jobless claims fell to 370,000 for the week ending May 19, down from 372,000 the previous week. The four week moving average hit 370,000 as well. For the week ending May 5, the total number of people claiming benefits from all the …
MarketWatch tells us from Toronto, Canada, Innovative Composites International, Inc. (ICI) the maker of EcoScapes modular homes, announces its financial results for the second fiscal quarter of 2012. Revenues of $1,042,704 were up $135,764 from $906,940 in the first fiscal quarter 2012. Cost of sales for Q2 2012 amounted to …
