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 Daily Camera in Boulder, Colorado, says residents of Orchard Grove, a factory-built home community in Boulder, want to change five acres of empty land from medium-density residential to manufactured housing. The community of 450 residents is included in Boulder’s affordable housing quota. In 2008 the city rezoned the occupied …
The Dow dropped .20 percent on fears of the slowing U.S. economy and European debt issues to end the day at 12,356.21, while housing stocks closed mixed. Nobility Homes was up 4.99 percent, Cavco gained 3.53 percent, MSCI was up .17 percent, and Sun Communities moved up .05 percent. Palm …
Sluggish Economy Drops Dow, Housing Stocks Close Mixed Read More
With 19 years in the industry, Jay Hamilton has become the new executive director of the Georgia Manufactured Housing Association. In a conversation with MHMSM, he indicated he has held numerous sales positions, first with Champion Homes, and more recently with Fleetwood Homes as Regional Sales Manager until they sold …
Following up on a story we published here May 20, The Birmingham News says Cordova, Alabama, Mayor Jack Scott continues to refuse to allow Federal Emergency Management Agency (FEMA) homes to site in his town despite pleas from residents. Danny Banks’ single section home was destroyed by the tornado April …
Cordova, Alabama, Mayor Continues to Keep FEMA Homes Out Read More
The Langley Advance reports one of the largest modular and manufactured housing firms in Canada is being sold to Western One Equity Income Fund for $93 million. Britco, of British Columbia, which supplied the Winter Olympics with the Whistler Village modular units, will become part of a public company that …
Business Wire says T.J.T., Inc., is closing its Platteville, Colorado, operation which served manufactured housing plants in a tri-state area with recycled axles, running gear and tires. Many of the plants have either closed or reduced housing production. T.J.T., established in 1977, is moving its collection and distribution operation to …
The Birmingham News reports that the Federal Emergency Management Agency (FEMA) has approved nearly 250 FEMA manufactured homes for refugees of last month’s tornadoes in Alabama, but so far only 35 are occupied. Before a home can be sited, officials have to make certain the space is suitable, and that …
FEMA Homes Require Installation Effort to Be Habitable Read More
Bloomberg says that new home sales increased in April to a pace of 323,000 on the year, jumping 7.3 percent from last month, according to the Commerce Department, which followed February’s count of 278,000, the lowest monthly rate since record-keeping began in1963. The article attributes the increase to job growth …
The Dow skidded downwards 1.05 percent as news of Europe’s debt sent it to close at 12,381.26, and most housing stocks closed down as well. Palm Harbor Homes ended the day up 42.86 percent. Meanwhile, Cavco was down 4.61 percent, Skyline Corporation lost 3.72 percent, Sun Communities dropped 1.26 percent, …
Dow Falls on European Debt News, and Most Housing Stocks Follow Read More
HousingWire reports that rents rose in 21 out of 44 markets analyzed from a year earlier, indicating that investors are being dawn to commercial real estate. Commercial mortgage-backed securities (CMBS) amounted to nine billion dollars the first four months of the year, and expected to hit $40 billion by year’s …
Inside Business from Australia reports that there is a shift from modular home building in rural areas to inner urban, now accounting for 40-50 percent of the new modular construction, but lending institutions are skeptical about financing. Jan Gyrn, managing director for Modscape, says they have experienced 300 percent growth …
Modular Housing Growing but Facing Financing Challenges in Australia Read More
The Manufactured Housing Institute (MHI) responded favorably to the Department of Housing and Urban Development’s (HUD) revision of “Subpart I-Consumer Complaint Handling and Remedial Action.” MHI welcomes and agrees with many of the alterations made by HUD regarding the inspection, record-keeping and assignment of responsibility for any problems that occur …
The Palm Beach Post says the city of West Palm Beach, Florida, spent $3 million in federal stimulus funds to buy 60 lots and build 19 modular homes in an attempt to revitalize the Coleman Park neighborhood, spending between $105,000 and $230,000 on each home. The plan was to use …
WWLTV reports that the town once called Canadaville, Louisiana because it was built by a Canadian billionaire philanthropist to harbor evacuees of Hurricane Katrina, is now home to refugees from the effects of the rising Mississippi. The 49 modular homes were part of a five-year plan that was supposed to …
Modular Homes Once Again Refuge for Disaster Evacuees Read More
Origination News reports different lenders have creative incentives to help deplete the glut of affordable houses on the market. Fannie Mae is offering 3.5 percent closing cost assistance for Fannie’s Owned HomePath Property loan as long as the deal is sealed before June 30, 2011. The borrower must use it …
Lenders Offering Different Incentives to Draw Borrowers Read More
The Dow fell .74 percent, anticipating bad news from retailers and the rise of the dollar on continuing news of the Greek debt crisis, closing the week at 12,512.04, 36 points below where it started at the beginning of the week. Housing stocks all fell or remained even for the …
Michael Stoler reports in The New York Observer that a partnership led by The Carlyle Group and Crown Acquisitions is selling part of the first and second floor retail space at 666 Broadway in New York City that it bought in 2008 for $525 million. Valued at $6,187 per square …
The Crimson White reports from Alabama that 11,131 people in Tuscaloosa County have registered for assistance from the Federal Emergency Management Agency (FEMA), part of the 71,487 in the state who have signed up. An estimated 3.5 million cubic yards of debris litter the state, 1.5 million of it in …
Tuscaloosa Defies Law Allowing Modular Units in AL Cities Read More
HousingWire reports the Department of Housing and Urban Development (HUD) will accept a $1.2 million fine from U.S. Bank (NYSE:USB) for failing to meet Federal Housing Administration (FHA) underwriting standards for 27 mortgages issued in 2003 and 2004. U.S. Bank did not admit any wrongdoing. FHA prohibits including any type …
U.S. Bank Fined for Mortgage Underwriting Violations Read More
CityBizlist of Charlotte/Raleigh, North Carolina says that Horizon Land Company of Crofton, Maryland, has closed a $1.15 million sale of shares to 14 investors of Winston Salem Investments. Meanwhile, CityBizList of Maryland reports, according to a filing with the U.S. Securities and Exchange Commission (SEC), that Carolina Village MHP (Mobile …
