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 Manufactured Housing Institute (MHI) weekly newsletter reports the Tennessee Valley Authority (TVA) is increasing the rebate amounts for ENERGY STAR manufactured homes to $1,950 per home for customers in their seven state service area. Under the program, home manufacturing plants will receive $1,450 for each ENERGY STAR home sold […]
TVA Offers Incentive for ENERGY STAR Homes Read More
The auction of manufactured homes in Bourbonnais, Illinois drew attendees from states as diverse as PA, TX, LA and MS, as well as from IL, MI and IN. A source at the auction told MHMSM.com that the auction was well organized, and drew sums within 30% of original factory cost.
MH Auction in Bourbonnais Draws Multi-state Crowd Read More
The Times Press Recorder says San Luis Obispo County Sheriff Ian Parkinson states it’s only a matter of time until low-level offenders are released from California state prisons and lodged in local jurisdictional jails and halfway houses. Sheriff Parkinson says he has room for more men but would have to
Sheriff Shooting for Modular Units to Expand Jail Read More
Zacks reports that Equity LifeStyle Properties (NYSE:ELS) and UMH (AMEX:UMH) rank first and second, respectively, in return on equity (ROE) among residential real estate investment trusts (REITs). Investors are attracted to firms with high ROEs because it is generally considered to be a sign of efficiency. Equity’s ROE is 18.4
Two MH REITs High on ROE Ranking Read More
Realtor Mag, the National Association of Realtors (NAR) publication, says Harvard University’s Joint Center for Housing Studies, in its latest annual “State of the Nation’s Housing” summary, cites population growth and shifting demand driving the need for more homes. Household growth averaged 1.2 million each year from 2000-2007, then dropped
Harvard Study Asserts 16 Million New Homes Needed in Ten Years Read More
The Dow jumped back Thursday, June 9, after six consecutive days of closing down, buoyed by bank, utilities and energy stocks, to gain 75.42 points and close at 12,241.36. Housing stocks closed mixed. MSCI gained 1.62 percent and Equity LifeStyle Properties moved up .39 percent. Sun Communities lost 1.41 percent,
Dow Bolts Back Up June 9, Housing Stocks Mixed Read More
The Federal Emergency Management Agency (FEMA) held an “Industry Day” seminar June 8 concerning production and future use of small disaster-relief homes, called Temporary Housing Units (THUs). Over fifty industry representatives attended. The Manufactured Housing Association for Regulatory Reform (MHARR) says the small housing units, 350 to 550 square feet,
FEMA May Order More Homes from Factories for Disaster Relief Read More
WGRZ2 reports from Cheektowaga, New York, just outside Buffalo, that two modular homes built by seniors from area high schools will be auctioned off, and the proceeds will buy supplies for next year’s students to build homes. Thirty students, all interested in working in the home building field, spent two
High School Seniors Learn Modular Home Construction Read More
Yahoo! Finance reports that mortgage rates have dropped for an eighth consecutive week. Freddie Mac says the average rate on a 30-year fixed mortgage dropped to 4.49 percent from 4.55 percent the previous week, and the 15-year mortgage fell from 3.74 percent to 3.68 percent, and both are at year’s
Mortgage Rates and Home Prices Continue Falling Read More
Housing and Urban Development Secretary Shaun Donovan announced that specific counties in Illinois, Oklahoma and Minnesota have been declared disaster areas by President Obama. Homeowners and low-income renters who were forced from their homes during the storms and flooding last month in Oklahoma and Minnesota, and in Illinois in April,
Storm-damaged Counties Get HUD Relief Read More
East Atlanta Patch in Georgia says Resources for Residents and Communities (RRC) is a 501(c)(3) non-profit that offers free workshops on everything necessary to know about buying and maintaining a home, including foreclosure. There is a nominal $30 charge for the one-day event, but that includes individual counseling if necessary.
Workshop for New Home Buyers Read More
CNNMoney reports in an exchange between Federal Reserve Chairman Ben Bernanke and JPMorgan Chase CEO Jamie Dimon, that Dimon said the government is stifling the recovery with its reforms, including the Dodd-Frank Act (Dodd-Frank). Bernanke spoke in Atlanta at the International Monetary Conference and acknowledged the recovery is slow. Dimon
Wall Street Banker Blames New Regulations for Slow Recovery Read More
The Dow ended the day losing 21.87 points on fears of the economic slowdown to close at 12,048.94, and many housing stocks also closed down. Equity LifeStyle Properties gained 1.04 percent and Sun Communities moved up .03 percent. Palm Harbor Homes lost 31.67 percent, Deer Valley was down 8.86 percent,
Dow Falls as Investors’ Fears Rise, Housing Stocks Mostly Down Also Read More
The Toledo Blade says Springfield Township officials have established a partnership program with two area schools that will provide shelter to residents of five nearby communities of pre-HUD Code (mobile) homes. Residents of Royal Village would go to Dorr Elementary School, and Woodside Terrace residents would be sheltered at Springfield
Schools’ Emergency Shelter Plan Includes Residents of Pre-HUD Code Homes Read More
The Daily Comet reports from Thibodaux, Louisiana, just west of New Orleans, that the city council voted to permit factory-built housing in areas where it had been previously banned. There are four residential districts in the city. R-1 is the most restrictive and R-4 the least restrictive. The move allows
Council Lifts Ban on Factory-built Housing Read More
Origination News reports that unless Congress changes its mind before Oct. 1, mortgages insured by the Federal Housing Administration (FHA) will be more affected by the pending change in loan limits than those securitized by Fannie Mae and Freddie Mac. The FHA says 669 of the 3,334 counties will likely
Mortgage Limits to Fall Unless Congress Acts Read More
Alabama’s 13 says Cordova is not the only city in Alabama hit by the April 27 tornado that does not allow manufactured housing outside an existing community of factory-built homes. Fultondale, just outside Birmingham, has a similar ordinance that Mayor Jim Lowrey says will be enforced, while adding the city
FEMA Homes Restricted in Another Alabama Community Read More
The Reno Gazette-Journal in western Nevada reports the Lyon County Board of Commissioners has amended an ordinance that primarily affects manufactured housing. Any manufactured home over 15 years of age that has not been occupied for 12 consecutive months or more, according to electrical power records, may not be reoccupied
County Extends Reinstatement Time for Unoccupied MH Read More
Altos Research says the housing market is undergoing ‘The Catfish Recovery,” meaning housing prices will stabilize near the bottom, and stay there awhile, much like a catfish is a bottom feeder swimming around somewhat randomly, yet sustained. In noting the relative constancy of the median price of housing over time,
Housing Market in Volatile Times Read More
The Dow lost 19.15 points after hearing from the Federal Reserve Chairman, Ben Bernanke, that the government will not provide more economic stimulus, closing at 12,070.81. Several housing stocks ended the day up. Cavco gained 2.89 percent, MSCI rose 1.38 percent, Skyline was up .73 percent, Sun Communities rose .47
Dow Drops on Fed Chairman’s Words; Some Housing Stocks Climb Read More
