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 Dow closed slightly up based on positive corporate news, but watered down by a lowered credit rating for Greece. The Dow gained .01 percent to close at 11,952.97, while the Manufactured Housing Composite lost 3.02 percent to close at 957.10. Housing stocks closed mixed, with several taking a drubbing. […]
Dow Moves up Barely, Some Housing Stocks Fall Down Read More
WREGNews3 in Memphis, Tennessee, says Shelby County residents of factory-built homes who were flooded out recently will have to seek higher ground if they relocate or replace their homes. An ordinance passed in August 2010 requires the floor of a manufactured home to be one foot above the 100-year flood
Ordinance from 2010 Requires MHs to Be Above Flood Plain Read More
Following up on a post from June 10, Carthage Press, of southwest Missouri, reports that the Federal Emergency Management Agency (FEMA) has approved nearly $12 million in assistance following the May 22 tornado that devastated Joplin, MO. Nearly half of that has gone for housing assistance in Jasper and Newton
FEMA on the Ground in Joplin, Missouri Read More
InmanNews reports the modular house built on site at Chicago’s Museum of Science and Industry in 2008 has had another interior facelift. This year’s theme for the “Smart Home,” as it is called, is “green” and high tech. The upholstery on the couch is made of old automobile tires, and
Modular Home Combines Old and New Read More
Informed sources tell MHMSM that the final SAFE (Secure and Fair Enforcement for Mortgage Licensing Act) Act rule has left the Office of Management and Budget (OMB). The final rule is now back at the Department of Housing and Urban Development (HUD) going through the final clearance process. It is
Final SAFE Act Rule in the Wings Read More
The Greeley Gazette in Colorado states the Evans City Council has been asked by the Cave Creek land lease community (LLC) to relax their requirement that manufactured homes no older than four years old can site there. Tom Carpenter, representing the owner, Sun Communities, says changing the criteria from age
LLC Wants Accommodation in Allowing Older Homes In Read More
The Clark Fork Chronicle reports from Montana the Department of Commerce’s HOME Investment Partnership (CHIP) program is helping six low-income residents buy new manufactured homes in St. Regis, MT. The Mineral County Commissioners approved a grant submitted five years ago by District XI of the state’s Human Resources Council (HRC)
Program Helps Homebuyers Purchase Manufactured Housing Read More
The Dow dropped 172.45 points to fall below 12,000 for the first time in 3 months, closing at 11,951.91, as insurance and financial stocks and commodities took a beating. Several housing stocks closed down as well. Deer Valley gained 11.11 percent, MSCI moved up .19 percent. Meanwhile, Skyline Corporation lost
Dow Stumbles at Week’s End as do Several Housing Stocks Read More
KOAMTV7 reports from Pittsburgh, Kansas, that the Federal Emergency Management Agency (FEMA) is now bringing in manufactured homes for those who continue to be displaced by the May 22 twister that devastated Joplin, Missouri. 8,000 homes were destroyed in the storm. FEMA officials have been sending people to rental units,
FEMA Homes Coming to Joplin MO for Post-Tornado Housing Read More
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
