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.
WisconsinRapidsTribune says Ferkey Builders in Saratoga, WI just needs approval from the Saratoga Town Board to build an over-50 modular housing community of 40 homes clustered around seven cul-de-sacs. In order for this and another project to go forward, ordinances dealing with lot sizes had to be amended, which the […]
50 and Older Modular Housing Community Read More
A May 7 email from the Manufactured Housing Association for Regulatory Reform (MHARR) recounts a letter sent April 26, 2012 from the Housing and Urban Development (HUD) concerning an increase in design values for Southern Yellow Pine to take effect June 1, 2012. MHARR’s response to HUD says HUD needs
HUD Yields on Enforcing New Standard Read More
The rise of consumer confidence to a four-year high and the stability of the inflation rate in April overshadowed the $2 billion trader loss at JPMorgan. CNNMoney reports the Dow Jones Industrial Average nudged down 34.51 points, just over a quarter of a percent, to end the week at 12,820.53
Cavco Rises, Skyline Falls, Nobility Snoozes Read More
As follow-up to a story we posted May 3, 2012, after a very long debate, the Delaware Senate finally passed Senate Bill 205 that limits rent increases in MHCs to changes in the consumer price index (CPI). Higher increases would need to be approved by an advisory board to the
DE Senate Passes “Rent Control” Read More
TheChronicleHerald in Halifax, Nova Scotia, Canada says P.J.C. Land Developments Ltd., headed by Paul R. Norwood, has proposed a retirement village of 350 modular homes just northeast of Halifax in Lake Echo. Sited in 50 clusters of seven homes each, Maple Leaf Homes of Fredericton will manufacture the homes, which
Modular Home Retirement Village Proposed Read More
Reuters reports Standard and Poor’s Rating Services has assigned its senior debt rating of AA+ to Berkshire Hathaway Finance Corporation (BHFC) $1.6 billion note offering. The rating is actually based on parent company Berkshire Hathaway’s “extremely strong competitive position, very strong earnings, very strong liquidity position, and conservative financial leverage.”
Vanderbilt Mortgage Offering Read More
HousingWire reports the Labor Department says the number of Americans filing jobless claims fell to 367,000 the week ending May 5, 1,000 fewer than the previous week. This pales in comparison to the week ending April 28 when claims fell 27,000. The four week moving average hit 279,000, 5,250 fewer
According to LegalNewsLine, a Ventnor, New Jersey couple charged with a fraudulent modular investment opportunity agreed to pay $35,000 in restitution and civil penalties by Aug. 31 as a settlement. As announced by NJ Attorney General Jeffrey Chiesa, if the defendants, Dennis and Maria Bracall, miss the deadline they and
Couple Agree to Restitution Agreement Read More
CNNMoney reports the Dow Jones Industrial Average edged up +0.16 percent on a drop in jobless claims but continuing problems in Europe, closing at 12,855.04 The Nasdaq dropped -0.04 percent to 2,933.64, while the S&P gained one quarter of a percent, to 1357.99. The Yahoo! Finance Manufactured Housing Composite fell
Neither Tracked Stock Nor housing Composite Rock the Boat Read More
The SeattleMedium tells MHProNews.com the Puget Sound Skills Center (PSSC) in the Seattle, Washington area offers a Construction Technology course where students build a modular home that is then sold by the school system. Teacher Ken Pierson says the course is great for students who like to use their hands
HS Students Build Modular Home Read More
In reference to a story MHProNews.com posted, NorthCentralPA reports the Pennsylvania House of Representatives has passed House Bill 1767 which requires MHC owners to give 60 day notice to residents when a community is to be closed and the land used for an alternate purpose. The Pennsylvania Housing Finance Agency
New Law: 60 Days for MHC Owners Read More
MarketWatch says publicly-owned REIT UMH Propeties, Inc. reports in its first quarter 2012 financials, funds from operations (FFO) fell from $0.25 per share in Q1 2011 to $0.17 at the end of March 2012—$3,512,000 down to 2,656,000, respectively. Net income for common shareholders dropped from $2,125,000, $0.15 per share, in
UMH Announces Q1 Financials Read More
NationalMortgageNews says new data shows the number of loans in foreclosure plus loans delinquent 90 or more days increased June 2011 to Dec. 2011 from 9.2 percent to 9.7 percent, following six consecutive quarters of decline. Foreclosure-Response.org notes, for the 100 largest metropolitan areas, the foreclosure rate has risen to
Foreclosures Increased Final 7 Months of 2011 Read More
David Stiff, chief economist at Fiserv, a financial analytics firm, forecasts housing prices will begin rising later this year and increase four percent a year for the next five years. CNNMoney says according to the National Association of Realtors (NAR), around half of 146 metro housing markets surveyed indicated a
Different Takes on Housing Market Read More
ReinforcedPlastics says MSP Property Management & Development Company, a real estate developer and manager in the Caribbean, has agreed to buy modular homes for a housing project in Antigua from Innovative Composites International (ICI). As we last reported April 6, 2012, at MHProNews.com, ICI’s new Ecoscape plant in Orangeburg, SC
Composite Panels Form Affordable Modular Housing Read More
Killam Properties Inc. announces in its first quarter 2012 results, net operating income (NOI) for its same store MHC registered 4.7% growth versus the same store apartment building that generated only 1.5% growth. Overall, funds from operations (FFO) rose from 0.145 per share in Q1 2011 to 0.151 per share
Canadian MHC Owner Reports Gains in Q1 Read More
CNNMoney reports the Dow Jones Industrial Average dropped 97.03 points on continuing problems in Greece and Spain, at one time falling to 12,750, but finally rallying back to only losing -0.75 percent, closing at 12,835.06 The Nasdaq dropped -0.39 percent to 2,934.71, while the S&P closed down -0.67 percent, to
Cavco Climbs, Nobility Flat, Dow Drops Read More
While Michael Fratantoni, vice resident of research for the Mortgage Bankers Association (MBA) is predicting under $1.1 trillion in new loans this year, NationalMortgageNews, the article’s source, projects originations will be $1.3 trillion, 18% higher than MBA’s. As refinancings continue to slide, says Fratantoni, he is expecting purchase loans to
Originations for the Year? Read More
Factory Homes, Ltd (FHL) in Hull, England has received the Q-Mark Certification by BM Trada, one of the toughest standards for construction products, and will begin producing modular homes with a low-carbon footprint to meet the need for affordable housing. Based on automobile manufacturing, the cutting-edge technology focuses on high
English Company Expands Modularly Read More
Following up on a story concerning the flooding in Minot, North Dakota last spring, KFYR-TV reports the Minot City Council is relaxing zoning requirements to allow manufactured homes to be sited in areas not previously zoned for them, sometimes to the chagrin of neighbors. Working on a case by case
Zoning Eased to Allow MH for Flood Victims Read More
