Holiday for Stock Markets
The U.S. stock markets were closed today in honor of Memorial Day.
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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.
From Soda Bottles to Shelters
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
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Residents in MHC Live with Uncertainty
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
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HUD/MOD Plant Closes Abruptly
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
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Consumer Confidence Gaining
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
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MHI Hires SNR Denton
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
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Govt. Flood Insurance Program in Jeopardy
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
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Nobility Takes Throne, MH Composite Gains, Dow Drops
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.
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Multifamily Originations Buoying the Industry
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
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Jobless Claims Edge Down
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
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ICI, Inc. Announces Q2 2012 Financials
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
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Another HUD MOD Retailer Strikes Oil
KelolandTV from Aberdeen, South Dakota says Centennial Homes is cashing in on the oil boom in western North Dakota. Kevin Foss of Centennial says the company has been sending as many manufactured homes and modular homes as it can to the north. He expects business this year to increase 50
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Modest Gains and Losses Across the Board
CNNMoney reports continuing concerns about the possible fallout if Greece has to pull out of the Eurozone, and tepid domestic economic data produced mixed results in U.S. stocks. The Dow Jones Industrial Average did manage a very modest gain, +0.27 percent, 33.6 points, to close at 12,529.75. The Nasdaq fell
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Cavco to Release Financials
MarketWire states Phoenix-based Cavco Industries, Inc. (CVCO) will announce its fourth quarter fiscal 2012 earnings Tue. May 29, 2012 after the market closes. Senior officials will discuss the report in a live webcast the following day, Wed. May 30 at 12:00 noon Eastern time. Cavco is the second largest producer
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Down Under MOD
ArchitectureandDesign reports from Inverloch, Victoria, on Australia’s rocky southeast coast, Archiblox has created a modern, sustainable modular home that maximizes sea views to the south while minimizing the effects of the cold winds that also come from that direction. Electric awning windows at the top of the entryway stairs act
Clayton Supports TV Ad Blitz
KnoxNews in Knoxville, Tennessee, tells MHProNews.com the Partnership Initiatives Fund, a branch of the Knoxville Chamber of Congress, is promoting a TV ad campaign supporting the addition of $35 million to the mayor’s education budget. The schools had asked for the funding to improve the schools, but Knox County Mayor
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Village Updates Definitions
TheDailyReview of Towanda, Pennsylvania reports the Waverly Village Trustees in Tioga County, just across the border in New York, updated their definition of manufactured and modular homes. The previous legal definition written in 1988 for “mobile home” was a portable structure on wheels, but intended for long-term living. The new
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Mass. Real Estate Market Improves Slightly
BostonGlobe reports for the first time in seven months, prices for single-family homes in Massachusetts rose modestly, 1.1%, as the median price hit $275,000 in April, according to Boston real estate company Warren Group. The number of single-family homes sold in April rose almost 22 percent over April 2011, marking
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Housing Recovery?
NationalMortgageNews says there were 2.4 million homes for sale at the end of the first quarter, 20 percent fewer than a year ago, which has helped stabilize prices for now. However, the 2.2 million homes in the process of foreclosure, and another 1.7 million homes where the owners are three
New Homes Sales Rose in April
OriginationNews says the Census Bureau reports new home sales rose 3.3 percent in April following a 7.3 percent drop in March. MHProNews.com has learned sales of new single-family homes rose to a seasonally-adjusted annual rate (SAAR) of 343,000 in April from a 332,000 mark in March, besting Wall Street analysts
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