Manufactured and Modular Housing News

Dow Plunges 500 points in worst day since financial crisis Read More

Dow Plunges 500 points in worst day since financial crisis

By MHProNews / August 4, 2011 / Manufactured and Modular Housing News

Yesterday’s brief rally now looks like a pause, as 9 days out of 10 in market trading end in the worst finish in years. The close was at 11,383, as three indices plummeted 10%. CNNMoney reports over 45 million Americans are on food stamps, some 15% of the population. The

Manufactured Housing Industry growing market share? MHI says yes, pros question it Read More

Manufactured Housing Industry growing market share? MHI says yes, pros question it

By MHProNews / August 4, 2011 / Manufactured and Modular Housing News

RealEstateRama picked up a press release yesterday from the Manufactured Housing Institute (MHI), issued by their president and CEO, Thayer Long. The article was likely aimed at the public, and thus within the scope of the ‘protect and promote’ mandate that associations correctly hold dear. Comments to MHMSM.com from readers

Reshaping Financial System during Great Recession? Dodd-Frank Scrutinized Read More

Reshaping Financial System during Great Recession? Dodd-Frank Scrutinized

By MHProNews / August 4, 2011 / Manufactured and Modular Housing News

SFGate reports the debate taking shape over the Dodd-Frank Act and its impact on financing and American housing. Seven agencies working under twin Dodd-Frank mandates decide in months which mortgages will be labeled low-risk. “This is the first step in reshaping our housing finance system,” said Ethan Handelman, vice president

New manufactured home retailers have rebate program marketing opportunity Read More

New manufactured home retailers have rebate program marketing opportunity

By MHProNews / August 4, 2011 / Manufactured and Modular Housing News

FayettvilleObserver reports the North Carolina State Energy Office announced Wednesday a $1,500 rebate to home buyers who purchase energy-efficient manufactured homes through the end of 2011. An earlier rebate plan was for $500. “We’re making it even more attractive for consumers to buy energy-efficient manufactured homes,” said Nicole Dyess, residential

Top REIT stock? Manufactured home community giant Equity Lifestyle Properties Read More

Top REIT stock? Manufactured home community giant Equity Lifestyle Properties

By MHProNews / August 4, 2011 / Manufactured and Modular Housing News

Zacks reports that Equity Lifestyle Properties (NYSE:ELS) is the best performing REIT among the top five Real Estate Investment Trusts. Equity Lifestyle Properties (NYSE:ELS) gain of 1.77% makes them the current leader. Education Realty Trust (NYSE:EDR) ranked number two gaining 1.64%. Apartment Investment & Management (NYSE:AIV) ranks third, having lost

Declining mortgage rates may not boost housing Read More

Declining mortgage rates may not boost housing

By MHProNews / August 4, 2011 / Manufactured and Modular Housing News

CNBC reports that one outcome from the debt ceiling hike debate was a drop in the Treasury rate. This in turn moved mortgage rates to near new lows. 30 year rates are at 4.45 percent from 4.57 percent, and the 15 year rate made a new low of 3.52 percent,

Dow Ends Eight Day Slide as Many Housing Stocks also Gain Read More

Dow Ends Eight Day Slide as Many Housing Stocks also Gain

By Matthew Silver / August 3, 2011 / Manufactured and Modular Housing News, news-at-noon, Stocks

The Dow nudged up one-quarter of a percent (+29.82 points) for the trading day, closing at 11,894.44, as cautious investors turned to gold and bond stocks. The Yahoo! Manufactured Housing Composite index also rose, moving up 3.14% to finish at 1051.30. Several housing stocks regained lost ground for the day.

RV/MH Hall of Fame inducts 10 in ceremony Read More

RV/MH Hall of Fame inducts 10 in ceremony

By MHProNews / August 3, 2011 / Manufactured and Modular Housing News

Some 350 leaders from the RV and Manufactured Housing industries gathered at the RV/MH Hall of Fame in Elkhart to dine on surf and turf while honoring the class of 2011 inductees. Hodge Patel from U.S. Congressman Joe Donnelly office said: “Each year about 45 million vehicles travel the Indiana

La Quinta forced to amend affordable housing plan Read More

La Quinta forced to amend affordable housing plan

By MHProNews / August 3, 2011 / Manufactured and Modular Housing News

MyDesert reports a state mandated change compelled the La Quinta City Council to amend its affordable housing plan. The mandate requires construction of 2,585 low-to-moderate-income housing units by 2014, nearly triple what was previously planned. The amendment identifies vacant and underused land where housing can be built to meet Regional

Long abandoned Route 72 property OK’d for modular sales center Read More

Long abandoned Route 72 property OK’d for modular sales center

By MHProNews / August 3, 2011 / Manufactured and Modular Housing News

PressofAtlanticCity reports Circul Custom Builders received unanimous approval from the Land Use Board for a modular home sales center. “These are environmentally controlled construction, or EC2. We’ve sold three houses in the last month, and we don’t even have an office up yet,” developer Nicholas Garofolo stated. Circul Custom Building

“Mobile Home Park” site where Beyonce shoots music video Read More

“Mobile Home Park” site where Beyonce shoots music video

By MHProNews / August 3, 2011 / Manufactured and Modular Housing News

FoxNews reports that Millennium award winner Beyonce picked the Oakdale Mobile Home Park in South Brunswick NJ to film her latest music video. Residents watched the Grammy award winner shooting “Party” for her album entitled “4.” An Airstream was part of the backdrop, as well as a park themed mural.

Stocks tumbled again, Manufactured housing stocks follow Read More

Stocks tumbled again, Manufactured housing stocks follow

By MHProNews / August 2, 2011 / Manufactured and Modular Housing News

Concerns over the business impact of the freshly struck federal debt ceiling limit deal in DC sent stocks tumbling yet again. The Yahoo! Manufactured Housing Composite index followed the broad decline, dropping -2.81% to close at 1019.30. Berkshire Hathaway, parent of Clayton Homes, Vanderbilt Mortgage and Finance, and other manufactured

Palm Harbor Homes To File Plan this Week Read More

Palm Harbor Homes To File Plan this Week

By MHProNews / August 2, 2011 / Manufactured and Modular Housing News

BusinessWeek reports that Palm Harbor Homes Inc. plans to file a Chapter 11 plan by the end of this week. Palm Harbor sold assets to Fleetwood Enterprises Inc. in April for $83.9 million. Palm Harbor pleadings to the bankruptcy court to extend exclusive filing rights until Aug. 8. The company

Mortgage Bankers and National Association of Realtors push to modify Dodd-Frank Read More

Mortgage Bankers and National Association of Realtors push to modify Dodd-Frank

By MHProNews / August 2, 2011 / Manufactured and Modular Housing News

TheStreet and NuWireInvestor report that provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act set the stage for higher minimum down payment requirements. The National Association of Realtors (NAR) and 44 other organizations criticize changes that can raise down payments to 20% minimum or more. These fuels fears

Niche lender will include manufactured homes in their lending mix Read More

Niche lender will include manufactured homes in their lending mix

By MHProNews / August 2, 2011 / Manufactured and Modular Housing News

HousingWire reports that First Guaranty Mortgage Corp (FGMC) is moving more into correspondent lending. This is a lending arena hit hard following the housing bubble burst in recent years. FGMC plans wholesale and retail originations under one umbrella, dubbed the Correspondent’s Edge. This niche-focused lending initiative will include manufactured housing

Equity Lifestyle Properties closes on 16 more manufactured home communities Read More

Equity Lifestyle Properties closes on 16 more manufactured home communities

By MHProNews / August 2, 2011 / Manufactured and Modular Housing News

BusinessWire reports that on August 1, 2011 Equity LifeStyle Properties, Inc. (NYSE:ELS), closed on 16 more properties in the acquisitions from Hometown America. The purchase price on those properties is approximately $436 million. As previously reported on MHMSM.com, on July 1, 2011 the Company closed on 35 of the acquisition