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.
One day before the House Financial Services Committee holds a hearing on the impact of Dodd-Frank on small business lending, the U.S. Chamber of Commerce, along with the Manufactured Housing Institute (MHI) and other business groups, proposed recommendations for the new Consumer Financial Protection Bureau (CFPB). According to MHI, the …
ABC News reports that in the far northern remote areas of Australia, called the “Top End,” it is 30 percent less expensive to have modular homes brought in to replace substandard ones than it is to build. The East Arnhem Shire Council’s Ty Johnson said the first of seven cement …
According to YAHOO! Finance, Warren Buffett had this to say in his annual letter to Berkshire shareholders, on the heels of acquiring railroad Burlington Northern Santa Fe: “Our elephant gun has been reloaded, and my trigger finger is itchy.” He acquired Burlington for $44 billion just over a year ago, …
PR Newswire reports from Tampa, Florida, that with tight credit and higher down payments required for home buyers, the rental market is increasing in factory-built communities across the Sunshine State, driving up their value. Because of the real estate boom, some communities have been converted to other commercial use, leaving …
As part of the Obama Administration’s Partnership for Sustainable Communities, which is encouraging cities across the country to develop more housing choices, Department of Housing and Urban Development (HUD) and National Endowment for the Arts (NEA) officials met in Miami Feb. 18 with representatives of 125 business and civic entities. As …
HUD Lays Groundwork to Develop Thriving Communities Read More
The Dow ended the day up 95.89 points to close at 12,226.34, the third straight month of gains. Most housing stocks closed up as well. Deer Valley was up 48.59 percent, Nobility Homes gained 2.63 percent, Cavco was up .67 percent. Skyline dropped 1.13 percent. The Manufactured Housing Composite gained …
In speaking at Cleveland State University in Ohio, Feb. 22, at a forum on entrepreneurship and the future of small business, President Barack Obama explained that large businesses are important to our economy because they employ thousands of people. As reported in the Cleveland Plain Dealer, he noted that they …
President Obama Says Small-business Innovation Is Key to Progress Read More
The Ogemaw County Herald in Michigan reports that a new county ordinance will not allow any manufactured home 20 years or older to be brought into the county. The new standards were approved unanimously by the Ogemaw County Board of Commissioners Feb. 24, and will take effect March 11. Homes …
County Ordinance Prohibits Older Homes Moving In or Around Read More
One bedroom modular units are being shipped from the former Olympic athletes’ village in Whistler to provide housing in Saanich, British Columbia for 36 homeless people, 55 and older, called Olympic Vista. The collaborative effort of several organizations, the units are trucked in and stacked on top of each other, …
A “Know Your Rights” workshop was presented by the South Coastal Counties Legal Services (SCCSL), Inc., to over 50 residents of manufactured home communities in Taunton, Massachusetts. Attendees learned about resident and owner responsibilities, rent control, eviction procedures, local ordinances, and the new Homestead Act. Funded by a grant from …
For utilizing environmentally friendly building practices, the Leadership in Energy and Environmental Design (LEED) Silver Certification has been awarded to one of the recently completed modular buildings at Fort Bliss, Texas. It is one of 34 two-story permanent structures, encompassing over 2,000 apartments, for housing enlisted personnel. Subcontractor Warrior Group …
If the residential finance market is fully privatized as outlined in the Obama Administration’s white paper, Walker & Dunlop’s CEO Willy Walker says lenders will loan only to top borrowers. This will shut down at least 20% of subprime borrowers, moving them to rental markets. “For multifamily, that is clearly …
Real Estate Conference Predicts Multifamily to Grow Read More
Bloomberg.com reports excerpts from billionaire investor Warren Buffett’s annual letter to Berkshire Hathaway Inc. shareholders Saturday. On the topic of home buying, Buffet urged the policymakers who are getting ready to overhaul the nation’s home loan policies to consider the example of Berkshire’s manufactured home unit, Clayton Homes, which also …
Warren Buffet Addresses Home Ownership in Annual Letter Read More
Despite oil prices surging more than 9 percent in one week, the Dow closed up just over one-half point at 12,130.45. Skyline Corp finished up 8.61 percent, and Cavco gained 2.97 percent. Nobility dropped .25 percent, and Deer Valley lost 32.69 percent. The Manufactured Housing Composite gained 3.25 percent to …
The Department of Justice revised a regulation for Title III of the Americans with Disabilities Act (ADA) that covers public accommodations. As reported in the Manufactured Housing Institute’s (MHI) Week In Review for Feb. 25, the revision refers to accessibility for swimming pools. If it is for the exclusive use …
As Swimsuit Season Approaches, ADA Issue Looms on MHI Radar Read More
According to IowaPolitics.com, a bill introduced in the Iowa State Senate would provide more rights for residents of manufactured homes, and make their overall dealings with community owners more transparent. Iowa Legal Aid testified to having received 500 inquiries from residents between January 2008 and October 2010. Senator Tom Courtney …
Two factory-built housing communities in Broward County, Florida, may be in the high decibel path of a new jet runway proposed for the Fort Lauderdale/Hollywood International Airport. They are not in the physical path, but the county nevertheless wants the land. Some residents have invested thousands of dollars enlarging and …
Jet Runway Proposed Near Two Factory-built Housing Communities Read More
From Globe Street.com, a Real Capital Analytics report says the value of distressed commercial real estate declined from $191.5 billion in October 2010 to $175.3 billion currently, the lowest level since June 2010. This year could prove telling for those stressed properties, ones with short-term problems, like notes coming mature, …
According to HousingWire.com, from an ongoing probe into alleged mortgage abuse tactics, Rep. Elijah Cummings (D-MD) sent letters to 11 well-known mortgage servicers, asking for documents that may support allegations by home buyers of fraud in lending, wrongful foreclosures, and robo-signing practices. A member of the House Oversight Committee, he …
Congressman Seeks Documents Pinpointing Mortgage Abuse Read More
The Dow ended the day down 0.31 percent to close at 12,068.50. Skyline Corporation gained 1.03 percent, Cavco closed down 0.46 percent, Nobility and Deer Valley were unchanged. The Manufactured Housing Composite lost 0.13 percent to close at 1096.02.
