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.
The Dow fell .34 percent for the day, nudged down by industrial giant Caterpillar, closing at 12,681.16, but finished strong for the week. The Manufactured Housing Composite lost 3.22 percent to close at 1053.50, as housing stocks had a mixed day. Palm Harbor Homes gained 21.50 percent, Nobility Homes climbed […]
Dow Falls for the Day, but Gained 1.6 percent for the Week. Read More
Federal Criminal Defense Lawyers reports that Philip R. Lochmiller, Sr., has been convicted by a jury in Denver, Colorado’s Federal Court on charges of defrauding 400 people out of $30 million. Convicted of conspiracy, money laundering conspiracy, money laundering and mail fraud, Lochmiller engineered a Ponzi scheme using manufactured housing
Jury Finds Philip Lochmiller, Sr., Guilty as Charged Read More
Second Act says Harvard University’s Joint Center for Housing Studies predicts the number of houses headed by persons over 65 will jump 35 percent in the next ten years as Baby Boomers age. Most seniors prefer to age in their own homes, or downsize and move to be near family,
Aging in Place Boomers Will Require Home Modifications Read More
The Chicago SunTimes, Chicago Tribune, Journal Record and Des Monies Register have all reported in recent months on issues relating to resident complaints in manufactured home communities. A recent example is in Glenview, IL, where the Chicago Tribune reported on Sunset Village MHC, which is now in the hands of
Manufactured Home Communities Dogged by Resident Complaints Read More
LinkedIn reports Lawrence Yun, chief economist with the National Association of Realtors (NAR), projects previously-occupied homes sales will slowly rise through 2012. Yun says the rising path will be uneven. Speaking at the Realtors® Midyear Legislative Meetings & Trade Expo, he says, “If we just hold at the first-quarter sales
Economist projects rocky rise in Housing Recovery Read More
The Merced Sun-Star of California says a U.S. Department of Housing and Urban Development (HUD) program may assist eligible homeowners with mortgage payment relief. If 15 percent of their income has been lost because of the economic downturn or a medical emergency, they are three months delinquent, and the mortgage
HUD Mortgage Relief Plan Assists Homeowners Suffering Income Loss Read More
The San Francisco Chronicle reports that Mark Rothschild, an analyst at Canaccord Financial, Inc., has raised the rating on Canada’s Killam Properties (KMP:CA) (KMPPF:OTC US) from “hold” to “buy”. According to the 2011 Allen Report, Killam ranks as the 17th largest land lease community (LLC) operator in North America with
Canadian LLC Operator Gets ‘Buy’ Sign from Analyst Read More
The Dow registered a 152.50 point gain on news that Greece’s debt crisis may be resolved, to close at 12,724,41. Several housing stocks closed up as well. The Manufactured Housing Composite gained .42 percent to close at 1088.60. Drew Industries gained 3.09 percent, MSCI moved up 1.81, Berkshire Hathaway gained
Dow Energized by Positive News from Greece Read More
Trade Only Today reports that Dehco Inc., a supplier of parts for the manufactured housing, RV, spa, and marine industries, has begun a new division called Recreation Nation. As the parent company of Tristar Distributing and Cast Company, it originally only supplied original equipment manufacturers (OEMs), but now will provide
MH Parts Supplier will Now Sell to Aftermarket Trade Read More
The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) reports that builder confidence in July for newly-built, single-family homes rose two points in July over June. While the June number had dropped three points from the previous month, this marks the ninth time out of the last
NAHB says Builder Confidence Inches Up Read More
The Langley Advance in Langley, British Columbia, Canada, says modular builder Britco has been chosen for the tenth year to provide the prize home at the Pacific National Exhibition (PNE) Aug 20 through Sept 5. Unlike many of the disaster-relief and smaller dwellings the company makes, this 3,100 square foot
Britco Supplies Prize Home for Tenth Year Running Read More
From industry sources reporting to MHMSM.com and Housing Wire, as the Consumer Financial Protection Bureau (CFPB) opened for business July 21 with a budget estimated at $550 million, the debate in and out of Congress continues to rage over the authority one person will have over all mortgages and other
CFPB Opens its Doors to Cheers and Complaints Read More
In a notice titled “Pressure Continues for Federal Sprinkler Standard”, the Manufactured Housing Association for Regulatory Reform (MHARR) reports the Manufactured Housing Consensus Committee’s telephone conference July 20 did not result in any voting. Discussion centered on the the federal sprinkler standard which is still before the Technical Structure and
Sprinkler Debate Continues at MHCC Teleconference Read More
The Manufactured Housing Association for Regulatory Reform (MHARR) reports the House Financial Services Committee held a hearing on H.R. 1751 that would require all Housing and Urban Development code (HUD Code) manufactured homes be sold with a weather radio. During the hearing, Rep Barney Frank (D-MA.) proposed the establishment of
House Committee Seeks Relief for Manufactured Housing Read More
The Dow lost 15.51 points to close at 12,571.91, as investors observed the debt ceiling debate and housing stocks closed mixed. The Manufactured Housing Composite lost 1.03 percent to end the day at 1084. Nobility Homes gained 4.48 percent, Equity Lifestyle Properties was up 2.50 percent, Skyline Corporation added .82
Dow Loses a Little Steam as Housing Stocks Close Up and Down. Read More
Yahoo!Finance reports sales of previously occupied homes are at the slowest rate in 14 years, as sales fell in June for the third month in a row, according to the National Association of Realtors (NAR). Economists predict that low home prices and mortgage rates are not enough to attract potential
Home Sales Continue to Slide Read More
The Coshocton Tribune in east central Ohio reports that second half 2011 taxes are due for manufactured homes Friday July 29. Payment may be made at the Coshocton County Treasurer’s office or at the drive-up window. A drop-box is also available at the treasurer’s office for after hours. As long
Manufactured House Taxes due July 29 Read More
The Birmingham News reports the House Financial Services Subcommittee unanimously passed a bill requiring all new manufactured homes to be equipped with a weather alert radio. Rep. Spencer Bachus (R-AL), chairman of the subcommittee, reminded committee members that 100 people in his district died during the April 27 tornado, although
House Measure Requires Weather Radios in MH Read More
HousingWire says the Mortgage Bankers Association (MBA) reports its market composite index for the week ending July 15 saw mortgage applications climb 15.5 percent on a seasonally-adjusted basis from the previous week, as refinancing increased. On an unadjusted basis the index rose 44 percent. Of all mortgage applications, refinancing made
Refinancing Mortgage Applications Increase as Rates Fall Read More
PR Newswire reports that Drew Industries, Inc. (NYSE:DW), acquired certain assets of M-Tec Corporation (M-Tec) through its wholly-owned subsidiary, Lippert Components. A supplier of components to the manufactured housing and RV industry, Drew paid $6 million in cash, and may pay an added $0.6 million depending upon sales levels over
Drew Industries Acquires MH Chassis Producer Read More
