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.
HousingWire reports Freddie Mac’s seriously-delinquent mortgage rate inched up 0.03 percent in October over Sept. to 3.54 percent. Meanwhile, the multi-family delinquency rate dropped to 0.31 percent from Sept.’s 0.33 percent. The overall mortgage portfolio at the government-sponsored enterprise (GSE) fell at an annualized rate of 5.22 percent last month. …
IndyStar reports existing home sales in Central Indiana rose 13.2 percent in October over the same month last year. The Metropolitan Indianapolis Board of Realtors (MIBOR), which covers a 13 county metro area, said the 1,735 homes sold last month mark the fourth straight month sales have grown. Sales of …
Sales of Existing Homes Climb in Indianapolis Area Read More
Omaha reports Rod Tompkins, who operates Heritage Homes in Wayne, Nebraska, in the northeast part of the state, says business is picking up and he plans to add 16 production workers to the current roster of 64. The maker of custom modular homes and apartments says the biggest demand is …
In a follow-up to our story Nov. 22, USAToday reports from Alabama a federal court struck down parts of Alabama’s HB 56 that forbids illegal immigrants from conducting any business transactions with the state, which would include manufactured housing permits. U.S. Judge Myron Thompson ruled illegal immigrants cannot be denied …
Bloomberg reports the U.S. Census Bureau says Sept. manufactured housing shipments rose to a seasonally adjusted rate of 54,000 units, an increase of 3,000 units over August 2011. Placements fell 3,000 from August, and dealer inventory gained 1,000 units, all seasonally adjusted figures. The average price of a manufactured home …
CNNMoney reports the Dow Jones Industrial Average slid again as investors continue to worry about the European debt crisis that only seems to deepen, as well as the drop in Chinese manufacturing numbers. The Dow lost 235.94 points, -2.05 percent, to close at 11,257.78. The Yahoo! Finance Manufactured Housing Composite …
Dow Drops, Euro Debt Threatens, Chinese Mfg. Lessens Read More
FinancialNewsNetwork reports, in what could be seen as a repeat performance from Sept. 23, 2011, UMH Properties ranks number one in dividend yield in the residential real estate investment trust (REIT) industry with a yield of 7.6 percent, just below the Sept. ranking of 7.7 percent. In second place, as …
The Manufactured Housing Association for Regulatory Reform (MHARR) and the Manufactured Housing Institute, acting jointly as the Coalition to Advance Manufactured Housing (Coalition), held a 30-minute follow-up conference call Nov. 22, 2011 with Federal Housing Authority (FHA) Commissioner Carole Galante, and Housing and Urban Development’s program manager, Henry Czauski, to …
HousingWire reports the Federal Reserve says the ongoing tepid housing market continues to suppress economic recovery. Minutes from the Nov. 1-2 meeting of the Federal Open Market Committee (FOMC) suggest more “policy accommodation” may be needed to spur the economy.Tight credit, lack of new household formation, and depressed job and …
NationalMortgageNews reports the Office of the Comptroller of the Currency (OCC) says the 12 national banks under regulatory orders to reform their mortgage servicing and foreclosure methods are making progress. Having agreed to the review in April, the banks have streamlined procedures for guiding struggling homeowners through the loan modification …
Cavco CEO and Manufactured Housing Institute (MHI) Chairman Joe Stegmayer’s exclusive statement to MHProNews.com last week sent the clear signal that no rapid appointment for a replacement to former MHI President Thayer Long should be expected. His message was underscored in a conference call with the Manufactured Housing Executive Committee …
Stegmayer’s Statement Suggests Slow Dance to Replace Long Read More
CNNMoney reports that the Dow is back in negative territory for the year, with the market closing at 11,493.72 -53.59 (-0.46%) and a year-to-Date decline of -0.72%. Yahoo! Finance’s Manufactured Housing Composite value also declined, closing at 789.90 or a drop of -2.92%. Affiliated Managers Group 85.56 -0.86 (-1.00%). Clayton …
CullmanSense reports that Gary “Burr-head” Don Allcorn, 57, of Addison, AL passed away on November 21, 2011 in Birmingham. Allcorn was born on August 31, 1954 in Addison. He attended Addison High School. He worked for Cavalier Homes, and most recently for Southern Energy Homes for the last 5 years. He is …
“Burr-head” dies, funeral planned for Industry veteran Read More
In a follow up to a story previously reported on MHProNews, ColumbiaMissourian reports that Columbia Regency mobile home park rezoning passed by a 5-2 vote of Columbia City Council. The Churchill Group expressed public interest last September in acquiring the property and redeveloping the location with 330 apartments for students …
Resident protests doesn’t stop manufactured home community closure vote Read More
WashingtonPost reports that the Prince Williams County, VA Board of Zoning Appeals reversed and rebuked a county decision to ban replacement of “mobile homes” in Holly Acres. Holly Acres Mobile Home park was effectively closed and many homes were ordered demolished in the wake of flooding from Tropical Storm Lee …
Zoning board reversal allows mobile homes to be replaced Read More
RecordNet reports on the first net zero development in Stockton California, which will consist of 22 modular homes built by Visionary Home Builders. California law has set the goal for all new home construction to be net zero by 2020, with commercial construction to achieve net zero by 2030. Nonprofit …
In a follow up report on a prior story in MHProNews, CourthouseNews reports that Congressman Mo Brooks of Alabama stated his position against undocumented immigrants by saying “As your congressman, on the House floor, I will do anything short of shooting them.” This statement is part of the rallying cry …
Congressman says: “I will do anything short of shooting them” Read More
FinancialNewsNetwork reports Cavco Industries has the second lowest enterprise value to EBITDA (EV/EBITDA) ratio in the homebuilding industry. This formula is valuable in measuring comparable companies, and the lower the ratio the more the company is undervalued. Cavco has a ratio of 29.70, well above NVR’s 10.48, but below DR …
HousingWire reports John Burns Real Estate Consulting says the excess housing vacancy level reached 3.2 million dwellings in 2009, and has fallen to 2.4 million units, but that will take 3-4 years to occupy. Despite the push by government and industry for more loan modifications, John Burns shows 72 percent …
