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.
BusinessInsider reports that the housing bust’s resultant weak home prices are actually masking the true rate of inflation in the U.S.. Editor Tom McClellan stated “I’ll bet you did not know that housing makes up 42% of the Consumer Price Index (CPI). All the rest of it, food, energy, clothing, […]
McClellan says Housing downturn is masking true U.S. inflation rate Read More
MercuryNews reports on the ever-developing story of Capitola coast’s Sand and Surf manufactured home land-lease community. Bill Newman was featured, an 86 year old resident who protested a 250 page lease and its terms at the risk of going from from $285 to $2,500 a month on his site fees.
Rent Control battle ground between some residents and MHCs Read More
BuffaloBizFirst reports the Parkside Village manufactured home community, one of the area’s largest has been sold. The 156-site land lease community, located on Crabapple Lane in Cheektowaga, NY was sold by Shamrock Mill Co-Parkside LLC of Paradise Valley, Ariz., to GCP Parkside Village LLC, a Clearwater, Fla.-based investment group, affiliate
GCP wing buys Cheektowaga Manufactured Home Community for $6M Read More
Politico reports President Obama’s new Consumer Financial Protection Bureau (CFPB) and its proposed director were held in partisan gridlock at Senate confirmation hearings Tuesday. Sen. Richard Shelby (R-Ala.) reiterated his plan to block former Ohio Attorney General Richard Cordray from leading the agency, unless the CFPB is restructured as a
Codray’s CFPB hearing heats as 44 Republican Senators demand change Read More
CNNMoney reports that the Dow Jones Industrial Average closed at 11,139.30, -100.96 ( -0.90%). While the initial fall was worse, stocks rallied later in the day. The Yahoo! Financial Manufactured Housing Composite Index bucked that trend and rose today, 810.2 up +0.46%. Affiliated Managers Group, 79.01 -1.28 (-1.60%). Clayton Homes, Vanderbilt Mortgage
Economic stall drops Dow, MH Composite rises Read More
PRNewswire reports that UMH Properties will be presenting to the Philadelphia Securities Association on Wednesday, October 12, 2011. The presentation will be at at the Union League of Philadelphia, PA. Eugene W. Landy, Chairman of the Board, and Michael P. Landy, Executive Vice President, will present an overview of the
UMH presenting to Philadelphia Securities Association Read More
Zacks reports that among the following five companies in the residential real estate investment trust (REIT) industry, Sun Communities shares ranked the best in their Debt to EBITDA ratio. The measure of a debt’s pay back is the the Debt/EBITDA. According to this metric, the longer the payback period increases
Sun Communities shares tops residential REITs in Debt to EBITDA Ratio Read More
HattiesburgAmerican reports that $5 million for Native American tribes who face unique housing and community development challenges has been set aside by the Department of Housing and Urban Development (HUD). The award was part of a total of 46 for the $28 million Rural Innovation Fund, a new initiative by
Opportunity Knocks via HUD’s Rural Innovation Fund Read More
Builderonline reports on the phenomenon of modular building being “a media darling.” Builder’s internal statistics are said to show that modular building articles are among their best read. Nevertheless, only 3.6% of new construction today is modular, according to the National Association of Home Builders (NAHB) Research Center. Stick framers
Modulars media darlings? But panelizers have hotter stats Read More
MurerietaPatch reports the Murrieta City Council is set to vote Tuesday on amending its regulations for manufactured and pre-HUD Code mobile homes. “The City now desires to limit the age of a manufactured or mobile home…to promote and ensure the aesthetic quality of neighborhoods, to minimize the devaluation of communities
Murrieta proposes new restrictions for Manufactured Homes Read More
ConcordMonitor reports that Epoch Homes, in collaboration with two Massachusetts colleges, will be part of the U.S. Department of Energy (DOE) 2011 Solar Decatholon 4D Home. Built to “Passiv Haus” specifications, the home is designed for affordability, comfort and will create more energy than it uses. Epoch CEO John Ela
Epoch’s MOD, the Solar Decathlon at the National Mall Read More
CNNMoney reports that black unemployment is at its highest level in 27 years, as ‘no’ jobs created in August and other negative economic/jobs news sent stocks reeling today. Gold rose to close at $1,880.40 +51.30 +2.80%, with some predicting September could see gold hit $2,000. The Yahoo! Financial Manufactured Housing
Dow drops on lousy jobs reports, manufactured housing slips too Read More
BusinessWire reports that Equity Lifestyle Properties (ELS) has closed on 7 more manufactured home communities as of Sept 1, 2011. The 7 land lease communities were part of a package of 75 that were announced on May 31st, 2011 and one RV resort, 31,167 sites on approximately 6,500 acres located
ELS closes on 7 Manufactured Home Communities Read More
MPR reports that the Norbord plant west of Bemidji is the last of the four oriented strand board facilities operating in Northern Minnesota. Jack Wallingford, the plant’s general manager, said they are struggling to keep jobs for some 140 employees, loggers and haulers. “We’ve been successful in that regard,” Wallingford
Minnesota lumber biz walloped by housing downturn Read More
NYTimes reports that The Federal Housing Finance Agency (FHFA), which oversees mortgage giants Fannie Mae and Freddie Mac, is ready to file suit against over a dozen major banks, alleging they misrepresented the quality of the mortgage securities. The FHFA legal actions will argue that banks failed to perform proper
Feds ready to sue major banks over mortgages Read More
Reuters reports that while quarterly profits looked good, gloomier times are ahead for Canada’s resilient banks. Canada’s banks stayed strong through the financial crisis which largely beat analysts’ expectations with their third-quarter results. Analysts expect narrow lending margins and increased caution by already overstretched borrowers in the months ahead. “The
Canada bank profits surprisingly strong in Q3, but are storm clouds ahead? Read More
InfoZine reports that Beth Phillips, United States Attorney for the Western District of Missouri, announced that an Independence, MO. woman was indicted by a federal grand jury today for her role in a conspiracy to violate the civil rights of a bi-racial person. Teresa Witthar was charged in a seven-count
Indictment obtained in an MHC plot to violate bi-racial person’s civil rights Read More
CNNMoney reports that the Dow slipped back into negative territory today. The Dow closed at 11,493.57 -119.96 -1.03%, off -0.73% year to date. Headlines included Goldman Sach’s slap on robo-signing, the White House’s ‘slower jobs recovery’ statement and the IRS giving a break to those impacted by Hurricane Irene. Yahoo!
Dow retreats along with most manufactured housing stocks Read More
SeattlePI reports green builder Sloan Ritchie of Cascade Built unveiled their latest single-family home project. It is the billed as one of Seattle’s first modern prefab modular LEED Platinum homes. In the the heart of Seattle’s Madison Valley neighborhood, and next door to the company’s acclaimed “Alley House” built in
Method/Cascade’s Platinum LEED modular home Read More
DailyTownsmen reports that Baker’s Garden officially opened with a ribbon-cutting ceremony for the 36 unit designed for seniors and the handicapped. Baker’s Garden is touted as the largest modular development to date in the British Columbia (B.C.) Senior Rental Housing Initiative. The project is the result of a partnership between
BC Modular development officially opens Read More
