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.
Bloomberg reports that Lewis Ranieri says banks should offer debt-for-equity trades with homeowners facing foreclosure, or who owe more than their property is worth. The head of investment group Ranieri Partners LLC, he said many people of modest means were coached into putting down less than 10 percent on a […]
Mortgage Broker Offers Solution to Avoid Foreclosure Read More
The Dow fell 83.93 points to close at 12,723.58 as news of less than expected job creation in April took its toll, as housing stocks closed mixed. MSCI gained 2.29 percent, and Cavco was up 1.57 percent. Nobility Homes lost 2.77 percent, and Equity Lifestyle Properties fell .51 percent. Palm
Dow Falls on Job Creation News, While Housing Stocks Close Mixed Read More
The Manufactured Housing Global Network has issued manufactured housing production statistics for March, 2011. Of the 4,035 homes produced nationwide, 1,884 were single sections and 2,151 were multi-sectionals. Texas was the top producer with 893 total houses, followed by Alabama with 621 units produced, and Tennessee which manufactured 583 units.
Texas Manufactured and Received the Most Manufactured Homes Read More
New America Media reports that some of the Federal Emergency Management Agency factory-built housing originally designated for Hurricane Katrina relief is now slowly making its way onto American tribal lands. Estimates range from 90,000 to 200,000 for housing units needed to replace inadequate housing on the 565 tribal lands across
Native Americans Slowly Acquiring FEMA Homes Read More
The Gadsden Times in Alabama reports that U.S. Representative Spencer Bachus (R-Ala.) will introduce CJ’s Home Protection Act requiring manufactured housing producers to install weather alert radios in their new homes. Named for C.J. Martin, a young boy who died with his grandmother and great-grandmother during a tornado in Indiana
Bill Will Seek Weather Radios in Manufactured Homes Read More
The Manufactured Housing Association for Regulatory Reform (MHARR) issued a statement vehemently objecting to the Housing and Urban Development (HUD)’s involving the Centers for Disease Control (CDC) investigations of issues of fire, safety and health in the manufactured housing industry, issues already covered by HUD. MHARR sees it as another
MHARR Objects Strongly to Joint Federal Report Read More
From Texas, The Huntsville Item reports the Huntsville City Council is considering a measure to restrict pre-HUD code homes from locating inside the city limits, but will grandfather in ones already there. It will allow existing homes to move to other parts of the city. An amendment to the motion would
SE Texas City Bans Additional Pre-HUD Code Homes Read More
Leagle reports Manufactured Housing Communities of Arizona, Inc. (MHCA), an organization representing community owners, is suing Gene Palma, the Director of the Arizona Department of Fire, Building and Life Safety. MHCA seeks to overturn a ruling requiring the owners of Cherokee Village MH and RV Park to reimburse home owners
Arizona MH/RV Community Lawsuit Involves Wrangling Over Gas Lines Read More
The Dow just barely stayed in the plus column as energy stocks kept a damper on the market, gaining .15 percent to end at 12807.51, as housing stocks closed down or even. Palm Harbor lost 14.29 percent, Cavco was down 6.03 percent, Skyline Corporation dropped 2.87 percent, MSCI fell 1.10
Dow Stays Slightly in Plus Column as Housing Stumbles Read More
From The Seattle Times in Washington State comes word that the head of one of the city’s most prominent real estate investment companies has begun a start-up to build modular apartments, military housing, motels, and student housing. Dale Sperling, former CEO and president of Unico Properties, which manages 15 million
Conventional Commercial Builder Switches to Modular Read More
My North reports a Traverse City, Michigan, contractor offers a 725 square foot modular home he can assemble in a day. Drew Craven uses Structural Insulated Panels (SIP) for the sides, a corrugated metal slanted roof concealing a second bedroom, and sliding barn doors that seal the home’s windows, but
Contractor Offers Modular Homes Assembled in 12 Hours Read More
Housing Wire reports a Mortgage Bankers Association (MBA) official predicts the 4.5 million distressed properties on the market will prevent a full housing market recovery for four to five years. Michael Fratantoni, vice-president of economics and market research, says some areas may experience recovery sooner, like Washington, D.C. and Texas.
Bankers Group Says Housing Recovery Still Distant Read More
Globe Newswire says Cavco Industries, Inc. (NASDAQ:CVCO), one of the largest manufacturers in the U.S. of manufactured homes, is set to issue its fourth quarter fiscal year 2011 earnings report after the close of the market on Thursday, May 5. A live webcast will follow the next day, Friday, May
Cavco to Release Earnings Report Read More
Market Wire reports from Deer Valley’s corporate headquarters in Tampa, Florida, that their production facility in Guin, Alabama, was not damaged by the tornadoes last week, but they did lose communications and power for a day. All utilities were restored, and the facility reopened Monday, May 2, according to Charlie
Deer Valley’s Alabama Factory Unharmed by Area Tornadoes Read More
The San Diego Union-Tribune reports Jerry Kern, city council member of Oceanside, California, wants to phase out rent control in the city’s 19 land lease communities with the proposal applying only to new residents. The current ordinance is administered by the city and limits rent increases to a percentage of
Rent Control Challenged in San Diego County Read More
Stocks fell slightly .02 percent on news of economic reports, following news of Osama bin Laden’s death, to close at 12,807.36. Most all housing stocks closed down, except Palm Harbor, which gained 20.69 percent. Cavco dropped 3.74 percent, Sun Communities fell 1.51 percent, MSC dropped .31 percent, Equity Lifestyle Properties
U.S. Stocks Slip Slightly, Housing Stocks Mostly Stumble Read More
American Market & Business News reports Drew Industries, manufacturer of components for the manufactured housing and RV Industries, announced their quarterly revenue gained 15.80 percent for the first quarter 2011 over the same period 2010. The company said earnings for 2010 were .30 cents per share, as opposed to .42
Drew Industries Registers Gains Quarter Over Quarter Read More
The Daily News of Massachusetts reports that officials in Salisbury are trying to include pre-HUD code housing that has not been moved in 20 years in their housing stock in order to meet the requirements for affordable housing under Chapter 40B housing laws of 1969. The state has said in
City Wants to Include Pre-HUD Code Housing in Figures Read More
From Alabama, the Birmingham News reports that Rep. Spencer Bachus (R-Ala.) has initiated legislation that would require new manufactured homes to have weather alert radios installed in them by the manufacturer. The same bill passed in the House in 2007, but it did not make it out of the Senate.
Weather Radio in Manufactured Homes could Become Federal Law Read More
From Pennsylvania, Lancaster Online spoke with emergency management officials concerning tornado preparedness in southeastern Pennsylvania, in the wake of the devastating tornadoes in the southern U.S. The area has several land lease communities, and is the single area in the state where tornadoes historically have struck. The Lancaster County Emergency
Tornado Preparedness in Southeast Pennsylvania Read More
