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.
CapeCodTimes tells MHProNews.com a couple in South Yarmouth, Massachusetts, purchased a modular home from a company in Pennsylvania and allege that it was fraught with manufacturing defects. Upon receiving delivery of the home and noticing problems, they contacted the Massachusetts Department of Safety who ordered the house gutted to evaluate …
Modular Home Construction Compliance Found Lacking Read More
Easton, MA is poised to join six other southeastern MA communities by instituting rent controls in MHCs. By-laws that regulate rents, evictions, and minimum standards of operation are under the auspices of a town-appointed board. Boston tells MHProNews.com a 1994 referendum in MA eliminated most forms of rent control, but …
Common Denominator for Six Massachusetts Towns May Soon Include Seventh Read More
As follow-up to an article we wrote Jan. 16, 2012 about a revived proposal shelved ten years ago to develop an MH community in Ormond Beach, Florida, the Volusia County Council approved plans for the community Jan. 19. OrlandoSentinel tells MHProNews.com the area, near the “Loop”, is a scenic route …
TimesReporter tells MHProNews.com Tuscawaras County (Ohio) Treasurer Jeff Mamarella says all manufactured home tax bills for the first half of 2012 have been mailed and are due March 1, 2012. It is the responsibility of owners of manufactured homes to pay taxes and penalties even if they do not receive …
MHProNews has learned from NationalMortgageNews, former President Bill Clinton’s plan to resolve the housing crisis is for underwater borrowers to receive lowered principal and interest rates that match current valuations. Once the market recovers and the house is sold, the bank would get a portion of the sale. This would …
A report from Homeland Security Department (HSD) office of inspector general (OIG) says a 2006 congressionally mandated program to quickly develop housing for victims of Hurricane Katrina was doomed from the start. FierceHomelandSecurity tells MHProNews.com the $400 million Alternative Housing Pilot Program was to design an alternative to typical Federal …
Despite ongoing talks about resolving the Greek debt, CNNMoney reports the Dow Jones Industrial Average rose 96.5 points, +0.76 percent, to close at 12,720.48. The NASDAQ fell -0.06%, while the S&P gained +0.07 percent. The Yahoo! Finance Manufactured Housing Composite gained +2.89 percent to close at 806.3. Tracked housing stocks …
All Three Stock Indexes Gain 2% for Week; Mfg. Housing Composite Breaks 800 Mark Read More
Following up on a story we published Dec. 2, 2011 concerning state felony theft charges against Jo Leigh Ares for allegedly receiving deposits on manufactured homes that were not delivered, MHProNews has learned her Park Girl Sales LLC has filed for bankruptcy. The petition, filed in the U.S. Bankruptcy Court …
Park Girl, Facing Fraud Allegations, Files Bankruptcy Read More
MhproNews has learned from the Register-News in Mt. Vernon, Illinois, the Mt Vernon City Council is set to approve a ban on mobile homes outside MHCs. Pre-existing manufactured homes outside designated areas would be grandfathered in, as long as they are not moved, according to city manager Ron Neibert. Zoning …
Southern IL City Likely to Limit MH to Communities Read More
Stocks rose Thursday as claims for jobless benefits last week dropped to the lowest level in almost four years. That’s one rung on the economic recovery ladder, but adding to the chorus of need for improvement in the housing market, former Alcoa CEO and Treasury Secretary Paul O’Neill tells Bloomberg …
Positive news from the housing market helped move stocks ahead Wednesday with the Dow closing nearly 100 points higher. The latest National Association of Home Builder’s index revealed a confidence level for the single family housing market not seen since 2007. The index is still half of what signals a healthy market. …
A private equity fund is betting $250 million on foreclosed homes. Menlo Park, California’s GI Partners is investing in WayPoint Real Estate Group, a company that buys foreclosed homes at discount prices and rents them. The Wall Street Journal tells MHProNews this investment is one of the largest by an …
NationalMortgageNews tells MHProNews in Q4 2011 the mortgage division of Wells Fargo & Co. wrote $120 billion of new home mortgages, triple the volume of JPMorgan Chase, its nearest competitor. In the third quarter it did almost double the volume of Chase. In the fourth quarter 2011 Wells’ mortgage banking …
HousingWire tells MHProNews that according to local MLS Realcomp, sales of homes and condos in the metropolitan Detroit area increased 2.2 percent in the last six months of 2011. This figure coincides with a drop in on-market inventory of 22.5 percent, Dec. 2010 to Dec. 2011, to a total of …
Detroit, Houston Home Sales Tell Different Stories Read More
The stock market began the week with positive news from global markets. The Chinese economy grew at an annual rate of 8.9 percent the last quarter, a German sentiment index showed positive results, and manufacturing grew in the New York region. CNNMoney tells MHProNews the Dow Jones Industrial Average gained …
MHProNews has learned from OriginationNews JPMorgan Chase chairman and CEO Jaime Dimon says the “turn” in the housing market is at least getting closer as the economy slowly improves. Noting the decline in the shadow inventory, he says it’s cheaper to buy than it is to rent in some markets. …
Omaha tells MHProNews modern-day homesteaders can get free land in Iowa and Nebraska providing they build a home on the land within five years. The lots are typically only available in smaller towns where not many employment opportunities exist. In addition, house construction costs are not cheap and credit continues …
MHProNews has learned from WBIRTV in Knoxville, Tennessee of a collaborative effort between the Tennessee Valley Authority (TVA)and Clayton Homes of Maryville, TN. Clayton’s total i-House production in the TVA region will have upgraded windows, thicker insulation, heat pumps, power saving lighting, and Energy Star appliances. TVA will offer a …
GreenValleyNews tells MHProNews 15 new modular homes courtesy of Habitat for Humanity have begun arriving in the greater Tuscon, Arizona, area, many still looking for owners. Applicants must be first-time buyers, and are chosen based on ability to pay, need, and willingness to invest 200 hours of sweat equity in …
In his address to a packed room at the Louisville Manufactured Housing Show Jan. 12, Jason Boehlert, Vice President for Government Affairs at MHI, said manufactured housing is a good fit considering the current economic conditions, because “it’s nice to have the home of your dreams, but it’s better to …
