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.
Following up on a story we published Oct 21, 2011, about the oil boom and subsequent housing shortage in Williston, ND, ArgusLeader reports neighboring South Dakota is reaping benefits from the black gold rush driving the economy. Custom Touch Homes in Madison and Superior Homes in Watertown have contracts to […]
Oil Boom Creates other Gushers Read More
Yahoo!Finance reports A.M. Best Co. has upgraded Standard Casualty Company’s financial strength rating to A-(Excellent) from B++ (Good) and its issuer credit rating to “a-” from “bbb”. Standard had been downgraded Sept. 17, 2010 because of the financial uncertainly of its parent company, Palm Harbor Homes. Palm Harbor and five
Standard Casualty gets Credit Upgrade Read More
CNNMoney reports the Dow Jones Industrial Average gained for the second straight day, as leaders in Greece and Italy took measures to curb the debt crisis in both countries. The Dow gained 259.89 points to close at 12,153.68, or + 2.19 percent. The Yahoo! Finance Manufactured Housing Composite Value closed
Dow Regains More Lost Ground as European Debt Crisis Looks Better Read More
HousingWire reports the cost of the Troubled Asset Relief Program (TARP) has risen $10 billion in one year, to $28 billion, according to the Government Accountability Office (GAO). The $28 billion does not include the $29 billion committed to housing initiatives such as HAMP (Home Affordable Modification Program). Housing programs
Government Programs Costing More Read More
In the SantaMariaTimes, Ron Faas, lobbyist for the Northern Santa Barbara County Manufactured Homeowners Team, says Santa Barbara (CA) County’s long-planning division has drafted a manufactured-home park closure conversion ordinance that the Board of Supervisors had requested. Noting the importance of local ordinances to assure the availability of low cost
MHC Conversion Closure Draft Favors Residents Read More
CBSLocal reports from Van Nuys, California, the 89 year-old estranged father of actress Jodie Foster may be looking at cell bars instead of his daughter’s films. Lucius Fisher Foster III allegedly took $5,000 from 20 people in the San Fenando Valley and promised them a low cost modular home, stalling
Actress’ Father is a Bad Actor Read More
OriginationNews says according to RealtyTrac, foreclosure filings rose seven percent in October, but have declined by 31 percent from a year ago. However, the report indicates a backlog of foreclosures that have not been filed, that some megabanks are waiting for the pending robo-signing settlement. One attorney says he has
Multitude of Foreclosures Still in Pipeline? Read More
JournalSentinel reports from Milwaukee that a Lustron house, made of porcelain-covered steel panels, is not considered historic and may be torn down. The company made about 2,600 of these prefabricated homes from 1948 to 1950 for returning GIs following World War II before going bankrupt. Innovative for its use of
Prefab Postwar Steel House to be Disassembled Read More
NationalMortgageNews states Sen. Bob Corker (R-Tenn.) has introduced legislation to wind down Fannie Mae and Freddie Mac’s share of the mortgage market to ten percent in ten years. The bill would go into effect six months after its passage. It also calls for the credit guarantee the GSEs provide mortgage
Senate Bill Would Downsize Fannie and Freddie in Ten Years Read More
CNNMoney reports the Dow Jones Industrial Average gained some of the ground it lost yesterday as the Italian bond market was less of an ogre, and unemployment claims hit a seven month low. The Dow closed at 11.893.86, a gain of 112.92 points, or 0.96 percent. The Yahoo! Finance Manufactured
Dow Recovers Some Ground, Palm Harbor Stock Doubles Read More
CanadaWire reports Innovative Composites International,, Inc., of Toronto has inked a deal to supply Brazil S.A. with $160 million worth of EcoScape modular homes over the next three years. In the agreement with Brazilian contractor Millenium Brasil Limitada and consultant Green Intelligence Corporation, the large project homes will be shipped
Canadian Modular Builder Moving on Brazil Read More
The National Association of Home Builders (NAHB) announces the appointment of John Courson to head the Home Builders Institute (HBI), the non-profit workforce development division of NAHB. His focus at HBI will be in job placement, mentoring, training, and developing new revenue streams. Says Donald Pratt, chairman of HBI’s Board
Courson to Head NAHB’s Workforce Development Read More
CNNMoney reports 30 minutes into the trading day stocks began plummeting amid fears of Italy’s worsening debt crisis coupled with the European Union’s lack of a plan to rescue Europe’s fourth largest economy. The Dow Jones Industrial Average fell a whopping 389.24 points, losing 3.20 percent to close at 11,780.94.
Dow Drops a Bundle, Many Housing Stocks Tumble Read More
HousingWire reports mortgage applications spiked 10.3 percent last week on a seasonally-adjusted basis, according to the Mortgage Bankers Association (MBA) market composite index. On an unadjusted basis the index increase amounted to 9.9 percent. Mortgage refinance applications accounted for 78.6 percent of all applications, an increase from 77.1 percent last
Mortgage Applications Up, FRMs Drop Read More
MarketWatch reports Freehold, New Jersey-based UMH Properties, Inc., released its performance results for the nine months ending Sept. 30, 2011. Funds from Operations (FFO) amounted to $6,529,000, $.45 per share, as compared to $.62 per share on FFO of $7,813,000 for the same nine months of 2010. Net income attributable
Per Share Value for UMH Falls from Last Year Read More
GreenMuze reports a conceptual modular house featuring computer-controlled glass panels that control the amount of light entering the home is engineered for quick assembly, and is adaptable to harsh living conditions, including the desert. The California Roll House, created by designer Christopher Daniel, is engineered from fiber reinforced plastic and
Modular Roll House Made of Plastic Read More
The Manufactured Housing Association for Regulatory Reform (MHARR) says the Manufactured Housing Consensus Committee (MHCC) report in support of a “conditional sprinkler system” for HUD Code homes destroys the opportunity to debunk the myth that manufactured housing poses a fire risk worse than traditional one and two-family homes. The National
MHARR Decries Sprinklers; NFPA says MHI Statement Incorrect Read More
RealtorMag reports a study by Builder Magazine and Hanley Wood Market Intelligence says urban areas with large universities, military bases, and strong private sector employment will drive the eight healthiest housing markets in 2012. Based on expected price appreciation, population growth, income growth, and improving employment picture, and factoring in
The Top Eight U.S. Hot Spots for Growth Read More
ConnecticutCollege reports its steel prefabricated house in New London, CT, manufactured by General Houses, Inc., of Chicago will be disassembled and shipped to Milner + Carr in Philadelphia, where each panel will be cleaned and restored. Built in 1933 for Winslow Ames, founding director of the New London Lyman Allyn
Prefab Steel House Slated to be Shined Read More
CNNMoney reports U.S. stocks rose from a noon low to gain 101.79 points following news of the impending resignation of Italy’s Prime Minister Silvio Berlusconi. The Dow Jones Industrial Average closed at 12170.18, a gain of 0.84 percent. The Yahoo! Finance Manufactured Housing Composite Value lost 0.69 percent to close
Dow Rises, Patrick Jumps, Palm Harbor Slumps Read More
