Dow Closed for Good Friday
The stock market was closed April 22 in observance of Good Friday.
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Manufactured and Modular Housing News
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.
Community Helps Family Buy Much-needed Manufactured Home
The Rapid City Journal in South Dakota reports a family, whose nine-year old son has a severe neurological disorder, has received a brand new manufactured home through the efforts of a local church and radio station. Tay-Sachs affects muscular control, preventing the boy from moving or speaking. Most children die
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Seattle Firm Has Its Eye on Multi-family Modular
From Washington, the Seattle Post-Intelligencer reports architectural firm CollinsWoerman has developed plans for a multifamily modular building above six stories with concrete floors and structural steel frame. The walls will be complete with electrical and plumbing fittings, water heaters, sheetrock and cabinetry, and will be assembled much like a Lego
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New Federal Program to Finance Energy Efficiency
According to the Department of Housing and Urban Development (HUD), and with backing by the Federal Housing Administration (FHA), HUD had chosen 18 lenders from across the country to participate in an energy upgrade program for qualified borrowers. Power Saver low-cost loans can offer up to $25,000 to credit-worthy homeowners
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Tornado Inflicts Heavy Damage in Raleigh, NC
The Raleigh Public Journal reports the tornado that tore through North Carolina April 16 destroyed 63 single-family homes in Raleigh, according to the Raleigh Department of Inspections. Fifty percent more stick built homes than pre-HUD code homes were destroyed. Major damage occurred at 184 dwellings, and 851 suffered minor damage
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Domestic Drywall Possibly Problematic
HousingWire reports there may be a problem with American-made drywall, not just drywall from China. The Consumer Product Safety Commission (CPSC), partnering with Environmental Health & Engineering (EH&H), tested 11 homes and found five of them had hydrogen sulfide emissions, as well as sulfur and copper sulfide buildup, which are
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Alleged Manufactured Home May Be in Violation of Ordinances
Gazettenet reports from Northampton, Massachusetts, that a structure on the property of now former city councilwoman Angela Plassman may be in violation of the city’s building code. City Building Commissioner Louis Hasbrouck says if it is manufactured housing rather than a recreational vehicle, it would be in violation of the
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Tulsa’s 2011 Great Southwest Home Show in the News
The 2011 Great Southwest Home Show in Tulsa has caught media attention, from state publications such as The Daily Oklahoman to national media such as MHMSM.com. A new Public Days website has been announced for general information at http://2011greatsouthwesthomeshow.com. Dozens of home and garden show style companies will be showcasing
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Dow Closes Near Three-Year High, Most MH Stock Down
Strong earnings reports propelled the Dow to gain .42 percent to close up at 12,505.99, almost a three-year high. Housing stocks mostly closed down for the day. Sun Communities was up .59 percent, but Skyline Corporation lost 2.80 percent, Cavco was down 1.43 percent, Nobility Homes dropped 1.00 percent, United
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RV/MH Hall of Fame Museum Making Way for Rentals
RVBusiness reports there has been no response from the GoRVing Coalition to the mid-April RV/MH Hall of Fame meeting that produced a plan for financial stability for the museum, located in Elkhart, Indiana. The coalition said it would end its $200,000 a year support unless a business plan was developed.
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Texas Housing Market More Stable than Elsewhere
HousingWire reports the Federal Reserve Bank of Dallas says the absence of large quantities of subprime loans in Texas may have kept the state from the depths of the housing crisis. Their percentage of foreclosures is half the level of the rest of the nation, and according to CoreLogic, the
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Factory-built Community to be Acquired by Non-profit
New Jersey reports that Mercer Mobile Home Park in Robbinsville, New Jersey, is being bought by a non-profit group, Allies Inc., with part of the funding coming from Robbinsville’s affordable housing public trust fund. The 140 homesite community will meet the city’s requirement for investing in affordable housing. Many of
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Wood Products Stock is Rising
Smallcap Network notes four suppliers of wood products have seen gains in their stock since last November. The Louisiana-Pacific Corporation (NYSE:LPX), which makes building products for manufactured housing, jumped from $7.90 a share to $9.45, a gain of nearly 20 percent. Leucadia National Corporation (NYSE:LUK) saw their stock price go
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Aging Factory-built Homes May Lose Coverage
From Texas, the Beaumont Enterprise reports State Farm Insurance canceled the homeowner’s policy of Jon and Beverly Nicholas, and not because of a claim or having done something wrong. Despite their 35-year relationship with State Farm, which gave them a discount for several policies, this couple’s factory-built home in Lumberton,
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Banks Swimming in Cash, Few Borrowers Getting a Drink
CNNMoney.com/Fortune report that while deposits increased at three of the four largest banks, loan balances dropped in what the banks called recovery from the housing crisis. Loans declined seven percent over the last year, while deposits at the four largest increased five percent. Citibank’s (NYSE:C) loans are down 13 percent
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Dow Surges Upward, Most Housing Stocks Follow
As good news emerged from earnings of the technology sector, the Dow gained 186.79 points to close at 12,453.54. Cavco surged up 7.57 percent, Skyline Corporation gained 4.32 percent and Nobility Homes moved up 1.35 percent. Deer Valley Corporation, often quiet, lost 19.19 percent. The Manufactured Housing Composite gained 5.20
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Texas Governor Makes Appointment to MH Board
The Office of the Governor of Texas reports that Anthony Burks of Fort Worth, Texas, has been appointed by Governor Rick Perry to serve on the state’s Manufactured Housing Board. Burks is president and co-founder of Vendigm Companies LLC, a founding board member of the Construction Industry Outreach Advisory Council,
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Devastating Tornado Brings Stories of Survival
The New York Times reports that while a number of factory-built homes were demolished, the series of tornadoes that swept through North Carolina flattened a Lowe’s home improvement store in Sanford, and knocked down the back wall and tore the roof off of a State Employment Security Commission brick building
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Longtime MH Dealer Honored at Tunica Show
The Atmore Advance in southern Alabama says Harold Allen, a 43-year veteran of selling manufactured housing, was awarded the number one dealership for Platinum Homes, Inc., for the fifth straight year. Joe Clark, zone manager for Platinum, presented the award to him at the Tunica Show last month. Established in
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Housing Supply Still Outweighs Demand
CNNMoney says although existing home sales increased 3.7 percent in March over February, sales were down 6.3 percent from March 2010. Compared to a year ago, the median home price fell 5.9 percent. New home construction permits increased slightly in March, but according to the National Association of Realtors (NAR),
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