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 rose almost 200 points, to close at 12,258.20, as U.S. stocks recorded their best day in three months. Cavco gained 2.61 percent, Nobility Homes was up 1.19 percent and Skyline inched up .85 percent. Deer Valley remained unchanged. The Manufactured Housing Composite was up 1.83 percent to close …
According to The National Association of Home Builders (NAHB), members of the House of Representatives should be urged to show their support for homeownership and the mortgage interest deduction by co-sponsoring H. Res. 25. “This resolution acknowledges the importance of homeownership to individual households, the economy and the nation,” …
Builders Urge Support of Mortgage Interest Deduction Read More
KETV 7 in Omaha, Nebraska, reports that the Omaha Home & Garden Expo held in the Qwest Center has been turned into a production site for a modular home that will be displayed during the show, which begins March 3. Don Hansen, of Nu-Trend Homes, which has built a home …
The Federal Register of March 3 notes a directive from the Obama Administration for the Department of Housing and Urban Development (HUD) to review its regulations to determine if they are “outdated, ineffective or excessively burdensome.” President Obama’s Executive Order 13563, issued Jan. 18, 2011, “Improving Regulation and Regulatory Review,” …
Executive Order Calls for Public Comments on HUD Policies Read More
Forbes magazine says that Warren Buffett’s Berkshire letter to his shareholders did not garner much press coverage about his ownership of Clayton Homes, which is doing pretty well compared to other manufactured home producers. Despite the fact that Clayton’s customers generally have low credit scores, the percentage net loss for …
Buffett Says Clayton’s Careful Loans Maintained Solvency Read More
According to the Los Angeles Times, by the end of March, 20 prefabricated homes ranging in size from 400- 1000 square feet will take their place inside a community of factory-built homes. Los Angeles designer Marmol Radziner Prefab, Golden West Homes and the city of Santa Monica collaborated on this affordable housing …
Home Start was founded in 2004 to ensure affordable housing on Peak’s Island in the Casco Bay just east of Portland, Maine. The Inter Island News reports the organization bought a 16,000 square foot plot of land in 2007 and is set to erect three modular homes on the site. Architects …
Peak’s Island Modular Homes Reflect Colonial History Read More
GreenAnswers.com makes a strong case for the eco-friendly features that can comprise prefabricated home. In terms of time, energy, and materials used, this blueprint of production is more efficient than stick built. Highly efficient fixtures, appliances, and heating/cooling systems save money and energy. Reclaimed materials are utilized when possible, cachement …
Environmentalists Like Prefab Home Efficiency Possibilities Read More
The Dow was up 8.78 percent to finish the day at 12,066.80, despite oil prices jumping above the $100 mark. Cavco finished up 6.29 percent, Nobility Homes added 4.87 percent and Skyline Corp. finished up 3.57 percent. Deer Valley was unchanged. The Manufactured Housing Composite closed up 5.01 percent at …
As reported in Milwaukee’s The Business Journal, the loud news currently coming from Madison, Wisconsin, is the bitter debate in the legislature over collective bargaining. The good news in Governor Scott Walker’s budget proposal is the exemption from sales and use taxes of “modular and manufactured homes that are sold …
A real estate broker in Phoenix says he has sold three manufactured home communities in the last two months to out-of-state investors. Russ Warner says the growing senior presence and the stability of the investment are fueling demand across the country. He notes that investors who have left this portfolio …
Cavco Industries successfully pulled off its takeover of bankrupt Palm Harbor Homes through its subsidiary, Fleetwood Homes, for $83.9 million at a bankruptcy auction March 1. Fleetwood, which is 50 percent owned by Cavco and 50 percent by Third Avenue Value Fund, will acquire essentially all of Palm Harbor’s assets, …
In 1960, John and Charlotte Gunter arrived in Santa Rosa, pulling a 26-foot factory-built home from Kentucky, reports the PressDemocrat.com. They began GV Custom Modular Construction in their home in 1972, and over the next 40 years, developed a multi-million dollar business constructing modular homes, classrooms, and buildings for customers …
A rent control ordinance at a factory-built community in Coleta, California, may propel a lawsuit to the U.S. Supreme Court. The community’s owner, real estate tycoon Daniel Guggenheim, attempted to convert the land into condominiums, and told the residents they either had to purchase their home sites or eventually lose …
Oil prices nearing the $100 mark sent major markets down over 1 percent, as the Dow fell 1.38 percent to close at 12058.02. Cavco lost 5.68 percent, Skyline was down 3.88 percent and Nobility Homes lost 2.44 percent. Deer Valley, so volatile recently, was unchanged. The Manufactured Housing Composite lost …
From Arizona, the Hot Springs Star reports that with 32 homes under contract, the newest modular home manufacturer in the state expects to hire 50 to 70 people when their new facility opens. Mammoth Homes, in Fall River County, South Dakota, is taking advantage of recent changes in property tax …
One day before the House Financial Services Committee holds a hearing on the impact of Dodd-Frank on small business lending, the U.S. Chamber of Commerce, along with the Manufactured Housing Institute (MHI) and other business groups, proposed recommendations for the new Consumer Financial Protection Bureau (CFPB). According to MHI, the …
ABC News reports that in the far northern remote areas of Australia, called the “Top End,” it is 30 percent less expensive to have modular homes brought in to replace substandard ones than it is to build. The East Arnhem Shire Council’s Ty Johnson said the first of seven cement …
According to YAHOO! Finance, Warren Buffett had this to say in his annual letter to Berkshire shareholders, on the heels of acquiring railroad Burlington Northern Santa Fe: “Our elephant gun has been reloaded, and my trigger finger is itchy.” He acquired Burlington for $44 billion just over a year ago, …
PR Newswire reports from Tampa, Florida, that with tight credit and higher down payments required for home buyers, the rental market is increasing in factory-built communities across the Sunshine State, driving up their value. Because of the real estate boom, some communities have been converted to other commercial use, leaving …
