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.
From Boston/SF comes word that people traveling to work on busy Route 1 in Saugus, Massachusetts, just north of Boston, may have been surprised returning home to see a house on what was a vacant lot that morning. Westchester Modular Homes of Greater Boston (WMHGB) installed a new 2,900 square …
Fear of rising inflation and the subsequent raising of interest rates by the Fed caused stocks to stumble at day’s end. The Dow lost .05 percent to end the day at 12,393.83. Nobility Homes gained 8.19 percent, Cavco was up 1.56 percent and Skyline Corporation moved up 1.30 percent. Deer …
The Duluth News Tribune in Minnesota reports the Arrowhead Home and Builder’s Show will feature a manufactured home brought into Pioneer Hall. Contractors will finish off the drywall and painting of the home for the several thousand visitors who are expected to tour the house. Craig Tobias, president of Bullyan …
Gulf Live reports from Ocean Springs, Mississippi that the Cottages at Oak Park, a 29-unit modular housing complex going up near downtown, will feature affordable one, two, and three bedroom homes, some two stories. The energy efficient homes will withstand 145 mile per hour winds, and will have steel roofs …
Statesman says Palm Harbor Homes announced it will close its Kyle, Texas, manufacturing plant in early June, idling 129 employees. The company filed bankruptcy last November, and was acquired by Cavco Industries through its Fleetwood subsidiary under a bankruptcy court auction in March for $84.9 million. Palm Harbor has eight …
HousingWire reports that while the House Financial Services Committee has proposed eight bills to revamp Fannie Mae and Freddie Mac, securities broker Keefe, Bruyette & Woods (KBW) say the legislation will do little to promote mortgages moving to the private sector from the GSEs (government sponsored enterprises). Instead it deals …
Yahoo!Finance reports that Nobility Homes (NASDAQ: NOBH) received a letter of non-compliance from NASDAQ because the company did not timely file its Quarterly Report on Form 10-Q. It failed to comply with NASDAQ Listing Rule 5250 (c)(1) with the Securities and Exchange Commission (SEC) for the period ending Feb. 5, …
HousingWire says the Obama administration’s housing scorecard shows gain, but not yet a win. Prime and subprime mortgage delinquencies, and Federal Housing Administration (FHA) delinquencies, all declined from a year ago. The Housing and Urban Development (HUD) and Treasury Departments, also said properties receiving a notice of default declined from …
The Dow registered a small gain of .09 percent to close at 12,400.03. In housing stocks, Skyline Corp. gained 2.38 percent and Cavco was up 1.36 percent. Nobility Homes and Deer Valley remained flat. The Manufactured Housing Composite gained 1.54 percent to end the day at 1134.60.
The 2011 Tunica Manufactured Housing Show wrap-up by our staff and guest bloggers features three blog posts with full-color photos and videos. Catch the feel of the Show and the magnificent homes and industry professionals that comprised this year’s event. Click the respective links to read The Masthead post by …
Tunica Manufactured Housing Show Takes Top Billing Read More
Zacks reports that Encore Wire Corporation (NYSE: WIRE) saw revenue increase in the fourth quarter of 2010 to $265 million from $177 million for the same 2009 period. Encore makes a variety of copper electrical wire for residential and commercial building, including manufactured housing. Although copper increased 31 percent for …
Word on the street coming to MHMSM.com says the first quarter manufactured home shipments in 2011 continued to slide. “It will be a rough first quarter,” a normally reliable source said.
The Santa Cruz Sentinel says a large water pipe that ruptured underneath a factory-built housing community, followed by drenching rains, damaged several homes and drove all 26 residents from the flooded community in Capitola, California. The March 24 drenching forced an elderly man to climb a hill behind his …
Rushing Waters Send CA Residents Streaming from Homes Read More
From Vermont, the Bennington Banner reports Barber’s Pond Mobile Home Park is being sold to settle two estates, and residents have 45 days to either buy it or find a non-profit to buy it. Come May 7, the owners must try to sell the Pownal, VT, property for no less …
HousingWire reports mortgages classified as seriously delinquent fell at the end of 2010 to a level not seen since the second quarter of 2009, according to the Office of the Comptroller of the Currency (OCC), and the Office of Thrift Supervision (OTS). Completed foreclosures decreased by almost 50 percent, and …
Seriously Delinquent Mortgages Fall, but Increased Foreclosures Likely Read More
The Estevan Mercury says a new subdivision being planned to meet the housing needs of Estevan, Saskatchewan, Canada, will have a mix of conventional and modular homes in various styles. Located just north of the North Dakota line, the initial phase of the Meadows of Estevan calls for 100 home …
The nation’s institutional investors are happy to see the latest wave of good economic news. The United States Bureau of Economic Analysis (BEA) reports that for the 4th quarter of 2010, the real gross domestic product (GDP), the value of all goods and services, increased 3.1 percent over the 3rd …
The Dow gained 56.99 points on the government report of job growth to close the week at 12376.72. Skyline Corp. gained .80 percent, but Nobility Homes dropped 13.22 percent, and Cavco was down .75 percent. The Manufactured Housing Composite also fell 1.12 percent to end the week at 1117.30.
Yahoo!Finance says that although manufacturing grew for the 20th straight month, it cooled off slightly in March compared to February. According to the Labor Department, 17,000 manufacturing jobs were added last month, part of the 216,000 overall jobs added in March. Factory employment has accounted for 200,000 jobs in the …
Manufacturing Sector Grows for Twentieth Straight Month Read More
The Manufactured Housing Association for Regulatory Reform (MHARR) issued a press release announcing that John Bostick has been elected at their annual meeting in Tunica, Mississippi, to serve as chairman of the association. The president of Sunshine Homes of Red Bay, Alabama, he has been a board member since 1994, …
