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.
NationalMortgageNews tells MHProNews.com the U.S. Census Bureau reports new home purchases last year totaled 303,000, declining 6.5 percent in 2011, the lowest number since the 1960’s. Sales of newly-built homes fell to a seasonally adjusted rate (SAAR) of 307,000 from 314,000 in November, a 2.2 percent slide after rising three […]
New Home Sales Fall in December; Economists See Growth in 2012 Read More
MHProNews.com has learned the housing downturn pushed rents to record highs in the metropolitan Boston area in the last quarter of 2011, while the vacancy rate dropped to four percent, a nine year low. Average monthly rents went from $1,600 in 2009 to $1,686 Dec. 2011. TheBostonGlobe reports economists expect
Boston Market Rents are Cooking! Read More
MHProNews.com has learned of a program in Montana to replace pre-HUD Code mobile homes with new, Energy Star-rated manufactured homes in the Great Falls area. The Sun Prairie subdivision outside Great Falls has 240 factory-built homes, many of them older models, where NeighborWorks Montana conducted an open house displaying a
Program Replaces pre-HUD Code Homes with New MH Read More
RedBluffDailyNews of Tehema County in north central California tells MHPronews.com an ordinance passed by the Tehema County Supervisors requires all manufactured homes produced after Jan. 1 to have a sprinkler system installed. The measure does not apply to existing manufactured homes. The ordinance also applies to multifamily homes with two
California Ordinance Requires Sprinklers in MH Read More
The Dow rose along with many manufactured housing stocks Wednesday as the Federal Reserve signaled low rates through at least late 2014. Futures began in the red but fortunes changed with the Fed announcement. The Yahoo Finance Manufacture Housing Composite ended hump day up more than five percent. Those stocks
Dow/MH Stocks Rise Wednesday Read More
MHProNews.com has learned that manufactured housing will be part of the Whitehouse Cove marina development project in Poquoson, Virginia, just north of Newport News on the Chesapeake Bay. Robert Brown and Associates had initially proposed building condominiums with the full service marina and the restaurant, but complications about setbacks and
New MHC Opens on Chesapeake Bay Read More
HousingWire tells MHProNews.com Consumer Financial Protection Bureau (CFPB) Director Richard Cordray, appearing before a House subcommittee, says he is examining the exclusion of smaller banks from regulations targeted at larger firms responsible for the housing crisis. He says the bureau will analyze how the rules might impact banks with assets
CFPB’s Cordray Attempts to Allay Congressional Fears Read More
ConnecticutPost tells MHProNews.com Hawaii ranks at the bottom of the list in terms of manufactured homes as a percentage of all housing with only .02 percent, followed by Connecticut, Massachusetts, and Rhode Island with .08 percent, according to 2010 U.S. Census figures. The figure for Connecticut fell from .09 percent
North Carolina has Highest Percentage of Manufactured Homes Read More
The Greek debt in particular and the ongoing debt crisis in Europe overshadowed trading on Wall Street, as CNNMoney reports the Dow Jones Industrial Average fell 33.07 points, -0.26 percent , to end the day at 12,675.75. The NASDAQ gained 0.09 percent, while the S&P fell -0.10 percent. Meanwhile the
European Cloud Continues Gloomy, while Mfg. Housing Composite Gains Read More
FinancialNewsNetwork has informed MHProNews.com that two of the three top residential real estate investment trusts (REITs) that have the highest dividend yield in the industry are MHC owners. UMH is number one with a dividend yield of 7.9 percent. UMH has a portfolio of 39 manufactured home communities in New
Two MHCs Rank First and Second in Dividend Yield Among Residential REITs Read More
The National Association of Home Builders (NAHB) tells MHProNews.com the Government Accountability Office (GAO) reports the lack of government oversight of real estate appraisals has resulted in inaccurate home valuations. Both builders and realtors note 18-33 percent of appraisals have been inaccurate, resulting in cancellations and delays in contracts. A
Real Estate Appraisal Process Needs Repair Read More
SantaFeNewMexican tells MHProNews.com real estate developer Jeff Branch wants to turn his 40 acre tract on the southwest side of Santa Fe, New Mexico, into a manufactured home community. He purchased the property in 2006 and received approval for 222 site-built homes from the city but has been unable to
Developer Plans MHC in Santa Fe Read More
Mortgage Bankers Association (MBA) chief executive David Stevens, noting the current 20 percent downpayment requirement is “a direct attack on first-time homebuyers, African-American borrowers and Latinos”, says it will make it more difficult to attract teachers, firefighters, and healthcare workers to new jobs in communities. NationalMortgageNews tells MHProNews.com Stevens says
MBA Wants the 20 Percent QRM Proposal Dropped Read More
Reuters informs MHProNews.com that real estate investment trust (REIT) Sun Communities, Inc. (NYSE:SUI) of Southfield, Michigan will release its fourth quarter 2011 earnings statement on Thursday, Feb. 23, 2012 before the market opens. At 11 AM that same morning a conference call will be held to discuss the earnings statement.
Sun to Release Q4 Earnings Report Read More
Still stymied by the specter of Greek debt, investors backed off as all three indexes registered minor movement on either side of break even. CNNMoney reports the Dow Jones Industrial Average fell 11.66 points, -0.09 percent, to close at 12,708.82. The NASDAQ fell -0.09%, while the S&P gained +0.05 percent.
Greek Tragedy Haunts Dow, while Patrick Industries Nicely Rises Read More
CTV in Winnipeg, Manitoba, Canada tells MHProNews.com that people displaced by the flooding of Lake Manitoba eight months ago are finally getting a more permanent place to live. Manitoba Housing has brought in 15 modular homes to house flood victims in St. Laurent on the southeastern edge of the lake.
Modular Homes Provide Relief for Flood Victims Read More
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
Plans for Once Denied MH Community Approved Read More
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
Ohio MH Tax Bills due March 1 Read More
