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.
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 […]
New Director for Georgia MHA Read More
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
Britco Moves from Private to Public Hands Read More
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
Aftermarket MH Supplier Moving Closer to Market Read More
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
Housing Market Continues with Ups and Downs Read More
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
Commercial Real Estate Markets Improving Read More
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
MHI Responds to HUD’s Revisions of Regulations Read More
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
Sixteen New Modular Homes Stand Empty Read More
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
Dow Ends the Week Down, as Housing Stocks Fall Read More
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 Carlyle Group Has Eclectic Investment Mix Read More
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
Horizon Land Company Raising Millions Read More
WBRC MyFoxAL reports from northern Alabama that dozens of Federal Emergency Management Agency (FEMA) homes are available for victims of the tornadoes, but not in Cordova, Alabama, in Walker County because the city ordinance prohibits single section homes inside city limits. Mayor Jack Scott says double-sectionals are allowed in certain
City Ordinance Prohibits FEMA Homes, Despite Emergency Need Read More
The Bellingham Herald reports from Bellingham, Washington, that Puget Sound Energy (PSE) is going door-to-door to manufactured home owners, offering free energy-efficient devices valued at $500. Any PSE customer that has forced-air heating is eligible for upgrades that include energy efficient light bulbs, water faucet and shower head aerators, pipe
Power Provider Offers MH Customers Free Energy Upgrades Read More
