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.
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
In a news release to MHMSM.com, MHARR announced they will ask Congress to review the HUD Manufactured Housing Program budget. The Manufactured Housing Association for Regulatory Reform (MHARR) asserts that HUD’s program budget has grown, while manufactured housing shipments have dropped 86% in 13 years. They suggest that Congress cut
Congress asked to Reduce HUD’s Manufactured Housing Program Budget Read More
NWITimes states that 75% of people polled recently by the National Association of Home Builders (NAHB) prefer home ownership. This is true even given perceived risks and market fluctuations. 95% of those who identified themselves as current home owners said they are happy with their decision to own a home.
Poll says most Americans still want to own, not rent Read More
Forbes reports that each new home built creates 3 new jobs and generates $90,000 in taxes, according to the National Association of Home Builders. Housing sales remain depressed, with last year being the worst on record for 50 years. Higher down payments, tougher credit standards and foreclosures are among the
NAHB report cites jobs and taxes created by home building Read More
Zacks Investment Research reports SmarTrend issued an uptrend for Sun Communities, Inc., (NYSE:SUI) June 20, 2011, and since then the stock has risen 3.3 percent. For the second quarter 2011, analysts expect a loss of .12 cents per share on sales of $53 million to be announced July 28, 2011.
Sun to Release Second Quarter Financials July 28 Read More
The Dow dropped 88.36 points as investors watched the debt ceiling debate rage on to close at 12,592.80. The Manufactured Housing Composite dropped 1.99 percent to 1032.50, as several housing stocks closed down. Palm Harbor Homes gained 38.46 percent. Drew Industries fell 3.26 percent, UMH dropped 2.86 percent, Skyline Corporation
Dow Closes Down Slightly, as Several Housing Stocks Follow Read More
The Rome News Tribune reports from Floyd County in northwestern Georgia that the Floyd County Board of Commissioners will pass an ordinance extending the time manufactured housing may be used in times of declared disaster. Following a disaster in the county, the amendment will permit a person to live in
County Approving Amendment to Allow MH Following Disaster Read More
Bloomberg reports a Washington, D.C. U.S. Court of Appeals ruling may forestall implementation of some Security and Exchange Commission’s (SEC) Dodd-Frank Act regulations, enacted over a year ago. Business groups had challenged a rule dealing with access to company board positions, and the costs associated with fending off investors’ attempts
Federal Ruling may Setback back Dodd-Frank implementation Read More
Sources tell MHMSM.com that organizers for the Great Southwest Home Show (GSWHS) are considering two key moves. One is a change of dates, the other a possible change of venue. One possibility mentioned is to have the GSHW Show in February. “That would take the show out of competition
Great Southwest Home Show may Move Read More
The Dickinson Press in Dickinson, North Dakota, reports a modular housing complex to house workers for an oil company will be constructed on the grounds of the old Fryburg School. Energy Resource Group received a special use permit from the Billings County Commission for the project that will house 200
Modular Housing for Oil Field Workers Rising in ND Read More
The Minot Daily News says engineers from Verendrye Electric Cooperative are working on a plan for 200 home sites east of Minot, North Dakota, for evacuees of the Souris River flooding in late June. Several of the Federal Emergency Management Agency (FEMA) manufactured homes have already arrived at a staging
FEMA’s Manufactured Homes arrive in Minot, ND Read More
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
