Manufactured and Modular Housing News

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.

Australian Companies Bidding on Modular Units for Japan

The Wall Street Journal reports that construction of temporary housing is just beginning in the tsunami/earthquake ravaged north of Japan, with 4337 modular units having been built so far.  Australian companies have been meeting with officials of the Japanese Embassy to develop a plan to provide some of the 30,000 …

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Sancta Sending Modular Homes to Haiti

The Las Vegas Review Journal reports that the city with the highest foreclosure rate in the nation – Las Vegas – is supplying Haiti with steel modular homes for the one million who remain homeless following the earthquake last year.  Sancta, from the Spanish for sanctuary, shipped its first home …

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Board of Supervisors Denies Application for MH Community

From Virginia, the Daily News-Register says the Page County Board of Supervisors has rejected an application from Century Luray LC to develop a 232-homesite manufactured housing community in Luray, VA.  County attorney George Shanks said that the county code of 1989 did allow for manufactured housing communities in town, but …

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Irish Research Firm Now Includes MH in Industry Reports

BusinessWire reports that the Dublin-based Research and Markets firm has added manufactured housing (MH) to the list of industries included in its reports.  The article says the $3 billion MH industry comprises 200 companies, but is dominated by eight firms accounting for 60 percent of revenue.  Four of the largest …

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MHI Supports Petitioners in Supreme Court Case

Scribd reports that the Manufactured Housing Institute (MHI) filed an amicus curiae (friend of the court) brief in support of petitioners who are appealing a decision in federal court that denied their claim challenging a rent control ordinance in Goleta, California.  Petitioners bought a factory-built community in Goleta and had …

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New Risk Retention Rule Could Prolong Housing Agony

HousingWire says according to Standard & Poor’s, the new risk retention rule will produce more stable mortgages in the long run, but the immediate effect will continue to suppress the housing market.  Federal regulators are proposing banks maintain a five percent risk in all loans that do not meet the …

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Dow Nudges Up, Most Housing Stocks Gain as Well

The Dow overcame losses earlier in the day as the price of commodities and energy increased to end the day up 14.12 points, closing at 12,285.15.  Most housing stocks closed up, Deer Valley dramatically so, gaining 41.43 percent.  Cavco was up 1.82 percent, Skyline Corp. gained .16 percent, while Nobility …

Dow Nudges Up, Most Housing Stocks Gain as Well Read More

Housing Stock Prices Fluctuate Over One Year

The New York Times reports that the 52 week change in the price of stock for Nobility Homes was minus 12.50 percent.  That number for Skyline Corporation was minus 2.52 percent, but for Cavco it was plus 20.64 percent.  The 52-week percent change for Deer Valley was not available, but …

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Modular Dealer Closes Suddenly after Bank Calls in Note

LJWorld reports that modular home retailer Webster’s, Inc., in Lawrence, Kansas, is closing after 44 years in business.  Jonathan Becker, attorney for Webster’s, said that University National Bank called in its note on the company’s financing.  He said the bank has been under federal regulatory control to straighten out some …

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City in the Middle Between Residents and Owners

The Weekly Calistogan in Calistoga, California, tells of a battle going on between manufactured housing community owners and residents over rent control, and the city is in the middle.  The owners are raising rental fees beyond what local law allows, and the residents are getting financial help from the city …

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Canadian Modular Builder in Talks with Japan

Following up on a post from March 22, Daily Commercial News says Canadian modular builder Britco has begun talks with private and public officials to provide temporary modular schools, offices and hospitals following the devastation in northern Japan March11.  Vice-president Chris Gardner says people’s needs for food and shelter come …

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Foreclosure Filings Down, but May Be Temporary

Reuters reports that RealtyTrac says foreclosure filings in the first quarter fell to their lowest level since the first quarter of 2208, down 26.9 percent.  Filings rose in March over February 6.5 percent, but were down from March 2010 34.7 percent.  Lenders seized 6 percent fewer homes than in the …

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Senate Study Slams OTS, Wall Street, and Lenders

HousingWire says the U.S. Senate Permanent Subcommittee on Investigations released a report about the recent financial crisis targeting the Office of Thrift Supervision (OTS) for regulatory failures, conflicts of interest and lack of oversight regarding risky financial products.  Senators Carl Levin (D-Mich.) and Tom Coburn (R-Okla.) released the report, which …

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Price Target on Shares of Sun Communities Raised

American Banking & Market News reports that Sun Communities, Inc. (NYSE: SUI), which owns and operates 124 manufactured housing communities in the United States, reported earnings per share (EPS) of .78 cents for the previous quarter.  This is .08 cents per share better than the same quarter in the previous …

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MH Community Being Planned for Oklahoma

The Durant Daily Democrat reports from Calera, Oklahoma, that David Strickland has purchased 25 acres in town and wants to develop a manufactured home community.  He brought his preliminary plans to a Calera Council meeting in this southeastern Oklahoma town and addressed concerns of citizens about how it would look. …

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New Residents Bring Enthusiasm to MH Community

The Chicago Tribune reports that the Four Seasons manufactured home community in Belvidere, Illinois, has not been the same since Beverly and Richard Roeschel moved there 11 years ago.  After retiring from their jobs a few years ago, they turned their attention to the community, which has a number of …

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NAHB Chairman Refutes Limiting Mortgage Interest Deduction

Bob Nielsen, Chairman of the National Association of Home Builders (NAHB), responding to President Obama’s proposal in a speech today to limit the mortgage interest deduction (MID), said, “Home owners cannot afford higher taxes at a time when the housing market is struggling to recover and contribute to economic growth…. …

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County Supervisors Douse Sprinklers in MH

ChicoER reports the Board of Supervisors of Butte County, California, unanimously voted to not require manufactured housing to have fire sprinkler systems installed. Butte County Fire Chief George Morris said the systems are required under new state law to be installed in all new residences under the “state responsibility area.” …

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Partnership Behind Modular Housing Project in Brooklyn

NewYorkDailyNews says the Nehemiah housing program, shepherded by the East Brooklyn Congregations, is behind the development of 2,219 modular housing units being constructed in East New York, Brooklyn.  In partnership with the city and developer The Related Companies LP, the affordable housing is part of a working and middle-class community …

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