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 lost just under a quarter of a point to close at 12,380.05, as oil spiked upwards and the threat of a government shutdown loomed. Cavco lost 1.97 percent, Skyline Corp. dropped 1.72 percent, and Nobility and Deer Valley remained unchanged. The Manufactured Housing Composite closed down 1.72 percent …
The Gaylord Herald Times reports that Goodwill Industries of Northern Michigan (GINM) will erect six modular buildings to house 24 self-identifying homeless veterans. With funding from the Veteran’s Administration (VA), a federal home loan and Goodwill, the two single-family modular homes and four duplexes are scheduled for completion by late …
Yahoo!Finance reports an Associated Press story from Los Angeles that a homeowner who applied for a loan modification under the Home Affordable Modification Program (HAMP) is suing Saxon Mortgage Services, Inc. for breach of contract and deceptive debt collection. The homeowner alleges she complied with all the requirements of this …
Homeowner Sues Mortgage Servicer over HAMP Loan Denial Read More
The Atlanta Journal-Constitution reports that as the federal government nears shutdown and hundreds of thousands of employees may be furloughed, only mail carriers, the military, and air traffic controllers would remain on the job. Federal Housing Administration (FHA) and Department of Housing and Urban Development (HUD) operations would cease during …
To follow up on a story we reported March 7, HousingWire reports Detroit has so many vacant houses it will bulldoze full blocks and turn the property into urban farming. Stephen Bancroft, executive director of the independent think tank Detroit Office of Foreclosure Prevention and Response (DOFPR), said once a …
The Scottish Business Insider reports the owner of Powerwall, after many years of testing, has developed lightweight steel frame and walls for building modular homes he intends to market internationally. Taking a page from the mass production of automobiles, Dominic Tedesco says building has changed little since the Roman days, …
The Wilmington News Journal (wnewsj) says elected officials in New Vienna, Ohio, are developing a zoning ordinance that would prevent single-section manufactured homes from being sited in town outside existing manufactured home communities. Debate continues over the option of a multi-sectional home inside town limits, and pre-existing homes inside town …
Ohio Town May Ban Single-Section Manufactured Homes Read More
The second Japanese earthquake and rising oil prices rattled Wall Street, causing the Dow to drop .14 percent to close at 12,409.49. Nobility Homes gained 2.51 percent, Skyline Corp. lost 1.96 percent, and Cavco fell .96 percent. The Manufactured Housing Composite dropped one percent to close at 1258.80.
Jetson Green reports HGTV has built a LEED (Leadership in Energy and Environmental Design) Platinum certified modular house, one of only 40 in Colorado, that it plans to give away. The exterior is a combination of brick and thin stone veneers, 50 percent recycled fiber-cement siding, with recycled blown-cellulose. The …
HGTV to Give Away Green, LEED Platinum Modular Home Read More
Zacks says Cavco Industries (NASDAQ: CVCO) is one of five companies in the home-building industry that offers the least risk and more stable return on investment. SmarTrend ranks Cavco second with a beta rating of 1.15, and says since it issued an upturn on the stock Feb. 17, its value …
HousingWire says mortgage rates rose by only one basis point to 4.87 percent for the average 30-year fixed-rate mortgage (FRM), the third straight week of increases, according to the Freddie Mac Primary Mortgage Market Survey. The average one year ago was 5.21 percent. Rates on 15-year FRMs moved up one …
The Contra Costa Times reports the 2008 Sayre Fire that tore through the foothills around Los Angeles destroyed 600 residences at the Oakridge Mobile Home Park. Coming on the heels of the housing crisis, only 20 percent of the residents have returned. As an incentive to bring people back, the …
City Helping Rebuild Wildfire Ravaged MH Community Read More
According to HousingWire, the falling of home prices for the seventh straight month represents the downward pull of distressed homes in the market. The statistics from CoreLogic show with that segment in the equation, prices fell in February 6.7 percent over February a year ago. Remove that segment and the …
Distressed Homes Lower the Price of Homes Nationwide Read More
According to the Manufactured Housing Association for Regulatory Reform (MHARR), the Housing and Urban Development (HUD) statistics show shipments of manufactured housing continued to fall through the first two months of this year by 15 percent over the same period 2010. Production numbers in their report from 2009 to 2010 …
MHARR Meets with Congressional Leaders, Express Concerns over Sagging Sales Read More
The technology sector was stronger than the weakness of the industrial and energy sectors to drive the Dow up just over a quarter of a point to close at 12,426.75. Housing stocks moved up, down, and not at all. Cavco gained 1.97 percent, Skyline Corp. moved up 1.91 percent, Nobility …
Technology Sector Moves Dow Up, Housing Stocks Inconsistent Read More
According to RV Business, RVPro magazine has responded to the cash-strapped Elkhart, Indiana-based RV/MH Hall of Fame Museum & Library, and will donate 25 percent of its June advertising revenues to the museum. Publisher Dana Nelsen said, “We want to help the museum, plain and simple, because it really is …
CNNMoney says mortgage rates are low and houses are cheap, but only the well-heeled borrowers qualify, and they typically need 20 percent down. The Federal Reserve says 25 percent of people who apply for financing are turned down, even good borrowers with one of two late payments are being denied. …
HousingWire reports the American Bankers Association (ABA) told the House Financial Services Committee that the new Consumer Financial Protection Bureau (CFPB) needs the checks and balances of a commission to head the massive agency instead of just the director. Speaking for the ABA, Leslie Anderson, of Bennington Bank in Nebraska, …
Bankers Say CFPB Should Be Directed by a Commission Read More
The Creative Coast reports that the Adaptable System for Universal Living (ASUL) was featured on the cover of the April 2011 issue of Builders News Magazine for its modular designs based on the Midcentury Home steel construction methods of Pierre Koenig. He designed the famed Stahl House in California with …
Modular Library Based on Modern Steel Buildings of Pierre Koenig Read More
The National Association of Home Builders documented the contribution of building 100 single family homes in a typical metro area for one year. The year impact includes $21.1 million in local income, $2.2 million in taxes, and 324 jobs. Half of the jobs are in construction, the other half extend …
