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.
PRNewswire released Patrick Industries (PATK) second quarter results. The company is a major manufacturer and distributor of building and component products for the recreational vehicle (“RV”), manufactured housing (“MH”) and industrial markets. Patrick reported net income of $3.7 million or $0.36 per diluted share on net sales of $82.6 million, […]
Patrick Industries second quarter results released Read More
PRWeb reports that Harford Village, a manufactured home land-lease community of over 480 sites, opened a new residents recreational center. New amenities including a swimming pool and children’s playground. A new community center is also available for resident’s use. Sue Edgeworth, the community manager, said: “With all this record-breaking heat,
Maryland manufactured home community opens million dollar residents center Read More
IAMHA executive director Joe Kelly tells MHProNews.com that the Iowa Supreme Court decision has come down today in a case important to those seeking to transition manufactured home communities into resident owned communities. The Board of Review of Jasper County, Iowa, sought further review of the court of appeals decision
Supreme Court ruling benefits Communities seeking Coop Status Read More
As the debt ceiling issue rages on in DC, the Dow dropped just over half a percent to close at 12,240.11, off by – 62.44. Manufactured housing stocks had mixed results. Overall the Manufactured Housing Composite Index rose +0.82% to 1018.70. Clayton’s parent Berkshire Hathaway closed 112,336.00, up $286 or
Debt Ceiling Talks Drops Dow, Manufactured Housing stocks mixed Read More
LoanSafe reports a former mortgage broker and the owner of a defunct manufactured housing dealership in Conway SC pleaded guilty to felony mortgage fraud charges today in federal court in Florence. Michael Fortenberry, the mortgage broker, and Glenn Vaught, former owner of G&E Home Sales, pleaded guilty to one charge
Former Mortgage Broker and Manufactured Home Dealer Plead Guilty Read More
AgentBeat reports that National Association of Realtors (NAR) Chief Executive Officer, Dale Stinton planned to “reduce staff and employees” in the NAR by about 10 percent. This came as a result of the annual budget review process. Stinton added the NAR is the ahead of budget this year and will
NAR Reduce Staff and Employees By About 10 Percent Read More
The IndependentMail reports Stephens County (GA) Commissioners has approved the first readings of an amendment to county ordinances dealing with pre-owned manufactured homes being moved into the county. The ordinance is designed to comply with state regulations. Georgia state law passed in 2010 keeps someone from moving a ‘mobile home’
Stephens County amends manufactured home placement ordinance Read More
TruckTrend reports architects Craig Hodgets and HsinMing Fung have turned Hummer sheet metal parts into a modular home. The iconic image of wasteful consumerism from the 90s and 00s could now become an environmentally friendly recycled HummerHaus. Eight Hummer H2 body shells serve as the walls around a steel framed
Hummers becoming Modular Homes? Yup. Read More
HomeBuyerInstitute reports that the three biggest problems for the U.S. housing market are (1) excess inventory, (2) elevated unemployment and (3) tighter lending restrictions. Their report shows the inventory of bank-owned properties have the most impact on home prices. A report by Laurie Goodman, a mortgage and housing analyst with
Bank-Owned Properties Kill Housing Read More
PRNewswire states that global tax services provider Ryan reports Wisconsin’s Governor Scott Walker signed the Assembly 40 budget bill that will change certain tax laws. Included is a provision that specifically exempts manufactured and modular housing from sales tax when it is sold in Wisconsin but used beyond state borders.
New State Law Exempts HUD and Mod Homes from Sales Tax Read More
The New Haven Independent in Connecticut asserts that Garden Homes Management Corporation has plans to develop two manufactured home communities in Oxford. The filing with the Planning and Zoning Commission for the first proposal, called Oxford Commons, would have 99 multi-section manufactured homes on 32 acres. The second project, Donovan
Two New MHCs on the Drawing Board in Connecticut Read More
Slowdown in manufacturing and concerns about the stymied debt ceiling talks sends the Dow down 1.59 percent to close at 12,302.55. Housing stocks closed mixed, although several took a fall as well. Berkshire Hathaway (parent of Clayton Homes) lost 1.09 percent, Cavco nudged up .49 percent, Deer Valley closed flat.
Dow Loses Nearly 200 Points; Housing Stocks Mixed Read More
Bloomberg News reports that Bank of America (B of A), the nation’s largest mortgage servicer, has a solution for disposing of the worst abandoned and foreclosed homes. B of A will work with a local agency in Cleveland to demolish 100 homes. Gus Frangos, president of the Cleveland-based Cuyahoga County
Proven Method of Ridding the Market of Unwanted Foreclosed Homes: Bulldoze Read More
SanJuanCapistranoPatch reports a controversial plan to close the Capistrano Terrace ‘mobile home park’ has been placed on hold. Capistrano Terrace Ltd. filed for chapter 11 bankruptcy protection and owes the city of San Juan Capistrano $7,548 in administrative fees. “…due to the bankruptcy, funding is not available and cannot be
In Bankruptcy, Capistrano Terrace’s Closure Plans on Hold Read More
WCAX reports that a Windsor VT manufactured home community was saved from the threat of closure when 14 families became the new owners of the ‘park.’ Rockingham Area Community Land Trust, the prior owner, claimed high costs and threatened to close the location. “We have elderly people and people on
Vermont Manufactured Home Community residents prevent closure Read More
SignOnSanDiego alleged that owners of a “mobile home park” packed a meeting of the Chula Vista City Council meeting by paying activists to support rent decontrol. The City Council voted to allow rent to be raised when a home in the community is sold. The change in ordinance impacts future
Manufactured Home Community Rent Decontrol Activists Paid to attend Chula Vista meeting Read More
In a statement to MHMSM.com, U.S. Senator Jon Tester (R-MT) made the following statement. “In recent days we’ve all seen the arguments and disagreements back in Washington play out in the headlines. It’s easy to get caught up in the back-and-forth without focusing on the nuts and bolts that matter
Senator Jon Tester sounds off on Debt Battle Read More
The Dow dropped 91.50 or .073% to close at 12,501.30 today. The dip came on the heels of Moody’s and S&P’s renewed warning they may downgrade the U.S. Credit rating over the debt ceiling issue. Most manufactured housing stocks also fell. Berkshire Hathaway (parent of Clayton Homes) dropped -.0.49. Cavco
Dow Dips as Moody, S&P Warn of U.S. Credit Downgrade Read More
The Vancouver Sun reports the role of the Canada Mortgage and Housing Corporation (CMHC) has been reviewed by the CD Howe Institute, Fraser Institute and the Macdonald-Laurier Institute. Each provided recommendations, including privatization. Canadian taxpayers are on the hook for $500 billion to lenders. Some fear that Canadian government owned
Canadian Housing Mortgage Giant Scrutinized Read More
CTV reports the Canadian Real Estate Association (CREA) stated their members sold 10.8 per cent more homes last month compared with June 2010 and 2.6 per cent higher than in May 2011. CREA president Gary Morse said they are avoiding recession due to low interest rates, job growth, and home
Morse reports Canadian home sales surge Read More
