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.
CNNMoney reports the Dow Jones Industrial Average bounced back from losses early in the day as investors sifted for the significance of leadership change in France and Greece. The Dow nudged down 29.74 points, -0.23 percent, remaining just above thirteen thousand at 13,008.53. The Nasdaq gained slightly, +0.05 percent, to …
Dow Recovers Early Losses; Louisiana Pacific Rises Nicely Read More
In the near future you will be able to know when your children receive visitors to your home in Tennessee while you are on a cruise ship in the Mediterranean. Applying rapidly evolving technology to home building, Honda Motor Co. is evaluating two test homes in Japan that run on …
Ruth Clayton, 97, the mother of Clayton Homes founder Jim Clayton, died Wed., May 2 at the University of Tennessee Medical Center in Knoxville, according to KnoxNews. Grandson Kevin Clayton, CEO of Clayton Homes, said his grandmother’s strong work ethic was an inspiration to the whole family. She is survived …
DoylestownPatch reports from the Pennsylvania House of Representatives, HB 1767, sponsored by Rep. Robert Freeman, D-Northampton, dictates the responsibilities of an MHC owner during the sale of an MHC under the Manufactured Home Community Rights Act. Up for second consideration this week, MHProNews.com has learned the measure also denotes the …
While the severest of weather cannot stop delivery of the U.S. Mail, residents of Airway Mobile Home Community in Oak Lawn on the south side of Chicago have learned cars or other obstacles that block their mailboxes may detour their mail to a post office for pick-up. SouthtownStarSun-Times reports a …
The United States Bureau of Labor Statistics (BLS) reports mortgage companies added 2,700 full-time employees in March and another 2,800 in April, bringing employment in the mortgage and brokerage sector to 267,600 in March, almost 3,000 more employees than in Feb. of this year. OriginationNews tells MHProNews.com while employment in …
A segment on National Public Radio (NPR) highlights the problem MHC residents may face if the MHC owner decides to sell his community, causing residents to lose a home that may no longer be mobile, and thus their financial investment. Where some people may see this as a huge boulder …
CNNMoney reports the Dow Jones Industrial Average dropped 168 points on news of tepid job growth for April, losing -1.27 percent, to end the week at 13,038.27 The Nasdaq lost even more, -2.25 percent to drop below the 3,000 mark at 2,956.34, while the S&P also closed down, -1.61 percent, …
BloombergNews reports non-farm employment grew by only 115,000 in April, according to the Labor Dept., just enough to reduce the unemployment rate by .01 percent, down to 8.1. That brought the three month average increase down to 176,000 a month, a drop from the 252,000 average in February. However, the …
Job Growth Shrinking, Congress Gridlocked, Federal Reserve to the Rescue? Read More
Following the $25 billion settlement reached in March with mortgage servicers, Ohio’s attorney general Mike DeWine has begun granting $75 million of Ohio’s $335 million to local governments for demolishing abandoned homes. According to what HousingWire tells MHproNews.com, Ohio’s 10,000 dilapidated homes are pulling down home prices and turning away …
In a letter to MPNnow, a resident of Gypsum Mills Estates in Victor, New York just south of Rochester states the 520 senior homeowners in the MHC are being unduly taxed by the town assessor. Stephen G. Poyzer says property assessments have increased an average of 24 percent. Noting that …
MarketWatch says Beazer Homes USA, Inc., one of the ten largest single-family home builders in the nation, announced its entry into the home rental market on a large scale in select markets. Beazer has contributed almost 200 single-family homes in Phoenix and Las Vegas to a newly-formed real estate investment …
In Freddie Mac’s weekly primary market survey, the average rate for a 30-year fixed rate mortgage (FRM) fell to 3.84% from 3.88% a week earlier, marking a new low, according to OriginationNews. The previous low was 3.87% for the week ending Feb. 9. The 15-year FRM also fell to a …
Sys-ConMedia reports 29,000 cooperative businesses nationwide will be represented when 150 leaders of the National Cooperative Business Association (NCBA) gather at the White House May 4 with top policy makers to discuss their roles in job creation and business development in their communities. Liz Bailey, CEO of NCBA says cooperatives …
All three indexes edged down on anticipated tepid news about the job market report due to be released tomorrow, and the downturn of the service sector of the economy for April. CNNMoney reports the Dow Jones Industrial Average edged down -0.47 percent, -61.98 points, to end the day at 13,206.59. …
MHProNews.com has learned from MyrtleBeachonline two South Carolina men were each sentenced to three years in federal prison for falsifying loan applications to banks to obtain mortgages on manufactured homes that were never delivered. Conway, SC MH dealer Glenn Vaught and mortgage broker Michael Fortenberry provided false documentation to obtain …
A bill in the Delaware Senate’s Small Business Committee would require MHC owners to justify rents that change more than the cost-of-living, with a decision rendered by the Governor’s Advisory Council on Manufactured Housing. Residents of Aspen Meadows MHC, many of them seniors, took 150 signatures in support of Senate …
In its report of earnings for first quarter 2012, Drew Industries, Inc.’s manufactured housing division registered $3.1 million operating profit on sales of $28 million first quarter 2012, versus profit of $2.2 million on sales of $23 million for the same period 2011. The company marked an MH sales increase …
OriginationNews says, according to the Census Bureau, the inventory of vacant homes for sale in Q1 2012 dropped to 1.65, 18 percent lower than one year ago. The number of vacant homes for sale was last below 1.6 million six years ago. MHProNews.com has learned from Census Bureau data the …
Zillow, Inc., the free online real estate site offering home listings, mortgage rates, and views of homes sold, notched total revenue of $22.8 million in first quarter 2012, 103% over the corresponding quarter a year ago. MarketWatch tells MHProNews.com this is the sixth consecutive quarter revenue growth quarter over quarter …
