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.
Berkshire Hathaway has offered to purchase the loan portfolio and mortgage division of Residential Capital LLC, known as ResCap, which filed for bankruptcy last month, according to Bloomberg BusinessWeek. A subsidiary of Ally Financial Inc., which make loans to auto buyers and finances auto inventories, and which itself is owned […]
Buffett’s Berkshire Shopping at Bankruptcy Court Read More
OriginationNews tells MHProNews.com primarily as the result of lost home equity, the median net worth of American families plummeted from $126,400 in 2007 to $77,300 in 2010, a drop of 38.8 percent in just three years. According to the Federal Reserve’s Survey of Consumer Finances in 2010, three-fourths of the
American Families’ Net Worth Drops Read More
All three indexes registered gains over one percent today despite continuing concerns of investors over the fate of Spain’s banking system, and now the possible bailout of Italy. CNNMoney tells us the Dow Jones Industrial Average gained +162.57 points, +1.31%, to close at 12,573.80. The Nasdaq rose +1.19 percent to
Despite Euro Woes, Dow, Housing Stocks Rise Read More
Harkening back to a story we have covered several times, the last being May 29, 2012, the RapidCityJournal reports from Box Elder, South Dakota, the Box Elder Planning and Zoning Commission continues to have questions abut Bob Akers’ Wagon Wheel Estates MHC being converted from 125 factory-built homes to 175
Not Enough Green Space for MOD Community? Read More
Following the 2011 flooding of the Souris River in North Dakota, NorthDakotaRealEstateRama says the acute housing shortage due to the oil boom led to the Federal Emergency Management Agency (FEMA) bringing in over 2000 manufactured homes to house the survivors. Often after a catastrophe FEMA will locate rental housing/motels for
FEMA Homes in ND Still Occupied Read More
EmergingMoney tells MHProNews.com the result of falling oil prices is cheaper financing and less expensive materials, which helps the global real estate market. Lower priced oil means: Lower transportation costs for material shipments and commuters; generally lower rate of inflation which helps keep interest rates down; lower costs of home
Falling Crude = Real Estate Recovery Read More
Moody’s Analytics says in HousingWire stagnant income growth and lack of adequate down payment is driving rental demand higher, with rents increasing five percent in the larger metropolitan markets, and climbing. Multifamily properties of five or more units saw vacancies fall from 12.5 percent at the start of 2010 to
Rental Market Growing Read More
ModularHomeCoach reports the United States Department of Agriculture (USDA) has instituted a program through its Rural Development Housing division to lower interest rates and monthly payments for thousands of borrowers who have loans made or backed by the USDA. The pilot program, designed to improve the housing market, is being
USDA Offering Refinancing to Homeowners Read More
Fears that the $125 billion bailout of Spain’s banking system will not be enough to stem the tide of the European debt crisis kept investors against the wall as all three indexes lost over one percent today. CNNMoney tells us the Dow Jones Industrial Average lost 141.83 points, -1.13%, to
Dow Falls, Most all Tracked Housing Stocks Follow Suit Read More
Core Logic tells MHProNews.com the reason the supply of homes dropped from a nine month average last June to 6.5 months April 2012 is because there are 11 million borrowers underwater who are unable to unload their homes, which restricts supply and increases the price of existing homes for sale.
Underwater Mortgages Drive Prices Read More
TheGlobeandMail in Toronto says a study by the National Association of Realtors (NAR) last year revealed 20 percent of homebuyers in the U.S. are single women. In Canada more than 15 percent of the homebuyers in British Columbia’s Lower Mainland are women, about the same percentage as couples without children,
Single Women Buying Up the Land Read More
SidneyHerald in Montana says the Sidney School Board is short of housing for faculty at West Side Elementary School and may lease or buy a set of nine modular apartments from M Space, a national modular general contractor. Each unit would have three apartments, and all apartments could be under
Modular Housing for Faculty? Read More
Madison reports one of the first modular homes built in the post-World War II years in Wisconsin is undergoing rehabilitation by a team of at-risk teens and young adults as part of Operation Fresh Start, a nonprofit that teaches life skills and helps them finish high school. Stripped down to
Young Team Rehabs Original Modular Home Read More
Writing in NationalMortgageNews, Paul Muolo says some industry officials are suggesting the Consumer Financial Protection Bureau (CFPB) exclude Fannie Mae, Freddie, Mac and Federal Housing Authority (FHA) loans from its loan origination compensation proposals. MHProNews.com has learned the National Association of Independent Housing Professionals says: “As an alternative to the
CFPB to Exclude GSEs from LO Comp? Read More
The Manufactured Housing Institute (MHI), responding to a request from the House Oversight and Government Reform Committee regarding regulations that negatively impact job growth in the manufactured housing industry, focused on three major areas of regulatory reform: Regulations authorized by Dodd-Frank; the Manufactured Housing Construction and Safety Standards Act; and
MHI Responds to House Committee’s Letter Read More
Hopes that Spain’s banking system will be bailed out by central banks in Europe led to the best week of the year for U.S. stocks as all three indexes registered gains. CNNMoney tells us the Dow Jones Industrial Average gained +93.01 points, +0.75%, to close at 12,554.20. The Nasdaq rose
All Tracked Housing Stocks Register Gains Read More
SooToday says the Federal Government of Canada has announced a $31,500 grant to the Missanabie Cree First Nation people to cover legal expenses for the establishment of a modular home building plant that will employ First Nation peoples building homes for their members in the Sault Ste. Marie area. The
Canadian Govt. Helping Fund First Nation Modular Plant Read More
The DailyTimes in Farmington, New Mexico tells MHProNews.com the owners of 2,650 of the 12,000 manufactured homes in San Juan County in northwestern New Mexico have yet to pay their county 2011 property taxes, totaling almost $400,000. Failure to pay 2010 taxes has resulted in MH owners owing $72,000 in
County May Seize MH for BackTaxes Read More
LoanSafe reports from Wichita, Kansas, the Wichita Eagle says six MHCs in the Wichita area owned by American Residential Communities, Inc. (ARC) will be auctioned off online June 26 and 27. The Denver-based owner is offering nearly half of its local portfolio, comprising 830 homesites, which are 40 percent occupied
ARC Selling Communities in Kansas Read More
The RV/MH Hall of Fame and Museum in Elkhart, Indiana announces anyone purchasing a brick in the Hall’s Walk of Fame before Aug. 31, 2012 will receive tax deductible status for the donation, and it will be matched by the Ingram’s family $100,000 challenge grant to reduce the debt. Vice
RV/MH Hall of Fame Invites You to Their Walk of Fame Read More
