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.
Business Wire reports that Morgan Stanley is partnering with National Equity Fund (NEF) to establish a program to develop affordable housing and jobs in a 13-state area hit hard by recent storms and flooding. By using Low Income Housing Tax Credits (LIHTC), the $100 million program can finance new construction …
The Times Leader reports the Kuttawa, Kentucky, City Council in northwestern Kentucky is updating its zoning ordinance concerning manufactured homes. State law prohibits banning manufactured homes from inside a city, but the city council zoning proposal is requiring homes to have either brick or masonry skirting around the bottom. Another …
From Alabama, the Tuscaloosa News says one of the newest housing developments is a gated, affordable manufactured housing community in a hilly area of the county. Country Ridge offers refurbished homes from the low $20,000s to the high $40,000s, with quaint street lights, underground utilities, security cameras and large lots …
The Department of Housing and Urban Development (HUD)’s ManuFACTured Housing News Letter announces changes in personnel. Teresa Payne, the Associate Deputy Assistant Secretary (ADAS) for Regulatory Affairs has been with HUD for 15 years in various capacities with the Manufactured Housing Program. She worked on HUD’s administration of the Real …
Daily Commercial News says Intelligent Living Corporation (ILVC) (OTCBB: ILVC) of Vancouver, British Columbia, Canada, is working with First Nations communities in Western Canada to help meet their needs for 20,000 modular housing units. In addition, a recent government analysis determined that 50 percent of tribal housing needs major repairs. …
Canadian Firm Building Modular Units for First Nations People Read More
The Times and Democrat reports from Orangeburg, South Carolina, residential property that once held two factory-built homes that were demolished reverted to site-built construction, according to the zoning commission. It is located in an RS district, which means single-family site-built homes only. The owner died and his son now wants …
Dow closed up 42.84 points on news of falling oil prices to end the week at 12,004.36, while housing stocks closed mixed. The Manufactured Housing Composite lost 1.87 percent to close at 926.90. ELS gained 2.67 percent, Nobility Homes was up 1.67 percent and Sun Communities gained 1.09 percent. Skyline …
Yahoo! Finance reports Nobility Homes financials for the second quarter 2011 show a drop of revenue of nearly $480,000 from the second quarter 2010 to $3,229,214. The loss of $143,047 for Q2 2011 is less than the $236,928 lost in the second quarter of 2010. Nobility says it has a …
The Manufactured Housing Association for Regulatory Reform (MHARR) criticized the Manufactured Housing Institute (MHI), as we reported here June 16, for leaving a door open that might require sprinkler systems installed in manufactured housing. MHI says it has consistently opposed mandatory fire sprinkler systems in HUD Code homes, and has …
MHI Responds to MHARR’s Allegations about Sprinklers Read More
LinkedIn reports from Realty Trac that notices for mortgage payment defaults fell to their lowest level in five years. Foreclosure filings fell 33 percent from May a year ago, and bank repossessions are down nearly 30 percent from May 2012. Banks are expected to repossess 20 percent fewer homes this …
Good Signs for the Housing Recovery—but Good Enough? Read More
The Manufactured Housing Institute (MHI)’s weekly newsletter notes on June 16, the House Financial Services and General Government Appropriations Subcommittee approved a nearly $20 billion FY 2012 spending bill, two billion short of current levels. The bill includes provisions to limit the Dodd-Frank Wall Street Reform and Consumer Protection Act …
The New York Times notes that while the term prefab or modular has long conjured images of cheap and flimsy, today’s builders are learning that modular construction uses the same materials as traditional building, and can save 20 percent in costs as well as months of construction. In Philadelphia, an …
Modular Construction Preferred in Pennsylvania and New York Read More
Mother Nature Network reports that Zero Energy Technology and Architecture (ZETA) of San Francisco is building Tierra del Sol, a net-zero energy community of 22 modular homes in Stockton, California. Each 1,268 square foot home is designed to save the residents $2,000 annually on utility expenses. A project funded jointly …
The Dow gained 64.25 points in response to stronger than anticipated housing and employment news to close at 11,961.52. Most housing stocks also advanced. The Manufactured Housing Composite gained 1.06 percent to end the day at 944.50. Skyline Corporation gained 2.37 percent, ELS was up 1.40 percent, Cavco added 1.04 …
Dow Responds to Positive Economic News, Housing Stocks Mostly Gain Read More
RealEstateRama of Michigan says Creighton Weber, with 30 years of experience in the manufactured housing industry, has been appointed to the Michigan Manufactured Housing Commission (MMHC). Appointed by Governor Rick Snyder to a three-year term, Weber specializes in manufactured housing communities finance for Wells Fargo Multifamily Capitol Group. He earned …
The Chattanooga, Tennessee, Times Free Press reports tornado survivors in a six county area of Tennessee will not need temporary manufactured homes from the Federal Emergency Management Agency (FEMA). According to a joint study by the Tennessee Emergency Management Agency (TEMA) and FEMA, eligible applicants are receiving rental assistance checks …
National Mortgage News reports the Commerce Department says housing starts increased 3.5 percent in May, following a 3.4 percent drop for April, to a seasonally adjusted annual rate of 560,000 units. This figure includes single-family and multi-family units. Multifamily housing starts alone rose 24 percent over May of 2010, to …
Housing Starts, Building Permits Up, but Builder Confidence Languishes Read More
The Manufactured Housing Association for Regulatory Reform (MHARR) says the Manufactured Housing Institute (MHI) has issued a new proposal regarding sprinkler systems in HUD (Housing and Urban Development) code homes that MHARR says leaves the liability door open. MHI’s new suggestion states that sprinklers are federally preempted, but sets up …
The ADA Herald in Ada, Ohio, says real estate tax bills have been mailed this week, and the last day to pay manufactured home tax in Hardin County without penalty is July 27. In 2000, the county began taxing manufactured homes at the same rate as real property. In a …
The Chronicle Herald of Canada reports from Dartmouth, Nova Scotia, near Halifax, that a 1,500 square foot modular home has been termed the most energy efficient home in the Province by the designer, Axel Lerche. Before the house is sold in three to four months, it will be an educational …
