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 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, […]
Mfg. Housing Composite Drops nearly Five Percent Read More
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
Ohio Demolishing Blighted Homes Read More
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
Assessment on MH Unbalanced, says Resident Read More
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
Beazer Bursts onto Rental Scene Read More
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
FRMs Drop to New Lows Read More
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
Co-ops Descend on White House Read More
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.
Most Tracked Housing Stocks Follow Dow Down Read More
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
MH Fraud Crime Results in Doing Time Read More
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
Bill Could Impede MHC Owners’ Net Read More
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
Drew Drew a Good Hand in Q1 Read More
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
Vacant Homes Sales Price Hitting Bottom? Read More
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
Real Estate Services Provider Marks Q1 Gains Read More
Discount merchandiser Costco is entering the mortgage and student loan business, OriginationNews tells MHProNews.com. Already into financial services with marine and recreational loans, credit cards, health and auto insurance, and investing services, Costco has partnered with New Jersey-based First Choice Bank and ten other lenders to offer full-service home loans.
Big Box Discounter Offering Mortgages Read More
Mostly positive corporate earnings reports were tempered by weak job growth data to keep investors wary, as CNNMoney reports the Dow Jones Industrial Average edged down -0.08 percent, losing -11.12 points, to end the day at 13,268.20 The Nasdaq managed a +0.31 percent gain to close at 3,059.85, while the
Dow Down, Patrick Rises, Skyline Falls Read More
As follow-up to an article we published Feb. 17, 2012, The New York Times reports the first MEDCottage will be delivered this month to a family in Alexandria, Virginia. As an alternative to placing aging family members in a nursing home, this 12-by-24 bedroom-bathroom-kitchenette modular unit, designed to fit in
Modular Unit to Keep Seniors Safe and Close Read More
The Department of Housing and Urban Development (HUD) has awarded $1.8 million in grants to improve housing and stimulate economic development among three Native American tribes in Nevada. KTVN-TV tells MHProNews.com each of the tribes will receive $605,000 under the Indian Community Development Block Grant (ICDBG) Program. The Ely Shoshone
HUD Funds to Rehabilitate Modular Homes Read More
In the wake of the deadly tornadoes that ripped through Alabama last year, WSFA-TV in Montgomery, AL, like many in the media and in the National Weather Service (NWS), does not distinguish between pre-HUD Code homes and those built after 1976. However, Tommy Colley, who trains MH installers for the
MH Destroyed during AL Storms Unusually Low Read More
NationalMortgageNews reports the Texas Association of Realtors says the volume of home sales increased the first quarter by 12 percent, including 45,502 single-family homes. The median price of the houses sold rose 2.7 percent over the same period last year, to $147,100. The inventory of houses on the market dropped
The Rising Star of Texas Read More
The American Association of Retired Persons (AARP) reports the Pew Research Center says over 20 percent of adults 25-34 live in a multigenerational setting, the highest level since the 1950s. The so-called Boomerang Generation are moving in with relatives due to economic necessity. The Washington Post says the recession cut
Household Growth Remains Slow Read More
