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.
HousingWire.com reports the House of Representatives voted to end the Emergency Homeowner Loan Program (EHLP) that was set to take applications beginning in the spring. EHLP, created under the Dodd-Frank Act, would provide up to $50,000 in interest-free loans for mortgage payments to unemployed homeowners for up to 24 months. …
The National Association of Home Builders (NAHB) says there is pent-up demand for apartment rental units. Although there is new construction, the ongoing credit crunch is making it difficult for developers to meet the demand, which could lead to higher rents. The report cites the Multifamily Vacancy Index (MVI), which …
The Lewiston Sun Journal of Maine reports the Maine Modular Housing Show will be held in Oxford Hills April 15-17. Scott Stone of Schiavi Homes in Oxford says he’s having a pretty good winter despite the downturn in the overall housing market. Last year he says he saw a lot …
Islandpacket.com says the small town of Bluffton, South Carolina, just west of Hilton Head, is moving forward with plans to build six modular homes to respond to the area’s affordable housing needs. The town has a $727,000 federal Neighborhood Stabilization Grant plus $150,000 from the Lowcountry Council of Governments. Habitat …
The Manufactured Housing Institute (MHI) reports that after leading efforts to put the Federal Housing Administration (FHA) back on more stable footing, as well as overseeing and managing the Office of Manufactured Housing, FHA Commissioner Dave Stevens will be leaving his position at the U.S. Department of Housing and Urban …
The Dow dropped 228.41 points to close below the 12 thousand mark at 11,984.68. Housing stocks also fell. Deer Valley lost 33.65 percent, Skyline lost 4.58 percent and Cavco fell 1.40 percent. Nobility Homes was unchanged. The Manufactured Housing Composite lost 5.04 percent to close at 1087.20.
CNNMoney reports that the largest drop in year-to-year foreclosures ever saw the rate fall 27 percent from last year, and 14 percent from a month earlier. RealtyTrac says, however, it may be a false positive in that the harsh winter may have prevented filings from being issued and notices going …
HousingWire.com reports that according to Freddie Mac’s Primary Mortgage Market Survey, the average 30-year fixed-mortgage rate (FMR) was up just one basis point to 4.88 percent for the week ending March 10. Rates broke five percent for the first time this year one month ago. Fifteen year FRMs remained at …
In a follow-up conversation with MHMSM.com, Wisconsin Housing Alliance (WHA) Executive Director Ross Kinzler responded to The Wausau Daily Herald report on the manufactured housing tax break, noting a definite example of double taxation. “The provision in the state budget to exempt manufactured homes shipped out of state has nothing …
Response to Charges of Political Favoritism in Wisconsin Read More
The Wausau Daily Herald reports Wisconsin’s Democratic Party has leveled charges at Gov. Scott Walker that his eliminating sales and other taxes on manufactured housing built in the state but sold beyond the border is politically motivated. Wausau Homes’ owners donated a total of $25,000 to Walker’s campaign over a …
Did Wausau Homes’ Support of Gov. Walker Elicit Tax Break? Read More
The National Association of Home Builders (NAHB) has scheduled a media teleconference March 16 concerning technical guidance in dealing with possible problems from new Chinese drywall. The event will be hosted by Barry Rutenberg, First Chairman, NAHB, Katherine Cahill, Global Product Risk Practice Leader, with Marsh Risk Consulting, and Dr. …
The Dow lost .01 percent to end the day at 12,213.09. Housing stocks reflected the same trend. Skyline Corporation was down .89 percent, and Cavco dropped .61 percent. Nobility Homes and Deer Valley did not change. The Manufactured Housing Composite lost two-thirds of a point to close at 1144.80.
HousingWire.com notes that on the heels of a bill passed by the House Financial Services Committee to end two programs aimed at foreclosure prevention, President Obama said he would veto both measures. As reported here last week, the Republican-dominated Congress wants to end the Short Refi program, which assists underwater …
President Obama Threatens to Veto Bills to Kill Foreclosure Programs Read More
The National Association of Home Builders (NAHB) told the Senate Banking Committee that Congress needs to take action to restore the availability of credit to home buyers and builders. NAHB Chief Economist David Crowe said, “Without access to credit, the residential construction industry will lose more small businesses and experience …
According to HousingWire.com, a new study by researchers at the Federal Bank of Cleveland says speculators who buy distressed housing in blighted urban centers may be doing more harm than good. Thomas Fitzpatrick and O. Emre Ergungor report if buyers do not buy through the banking system, liens, back taxes …
BostonSF reports residents of a Boston neighborhood are witnessing the first ever three-story modular home being put together in their area. Westchester Modular Homes of Greater Boston (WMHGB) supervised the assembly of the six-module unit. The 3,360-square-foot home sits on a lot only 20 square feet larger, and will feature …
Three-story Modular Home Rises in Tight Urban Setting Read More
Maryland’s law that requires sprinkler systems in manufactured and modular homes took effect Jan. 1. The Dagger News Service reports several families applied for permits for modular homes prior to that date in Harford County, but the state’s interpretation of the law is for the permit to take effect at …
Following a February letter sent to RV and manufactured housing industries asking for support to keep the RV/MH Hall Museum and Hall of Fame open in Elkhart, Indiana, a March 15 “summit” has been organized to discuss the financial plight of the museum. An $887,000 note due March 15 has …
As reported in the Knoxville News-Sentinel, Clayton Homes, in conjunction with five MBA students from the University Of Tennessee College Of Business Administration in Knoxville, conducted research to gain customer input in making their product. For 13 weeks, the students studied the industry and Clayton’s competitors, interviewed company officials and …
In its report of sales and earnings for fiscal year ending November 6, 2010, Nobility Homes reports sales increased over the last fiscal year 25 percent to $14,861,682. Sales for the previous year were 11,869,333. Net loss for 2010 after taxes was $795,130 versus loss of $1,051,843 for the same …
