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.
Business Wire says that Newcastle Investment Corporation (NYSE:NCT) of New York reported first quarter 2011 income applicable to common stockholders of $108 million, or $1.73 per diluted share, as opposed to Q1 2010 of $180 million that had diluted share value of $3.36. With a $4.2 billion investment portfolio, manufactured […]
Newcastle Investment Corporation Reports Earnings Read More
AZ Central reports that Phoenix, Arizona-based Cavco Industries, Inc., issued a positive earnings statement for the first quarter of the year, showing profits of $1.6 million versus a year ago when it lost $729,000 in Q1. The manufactured home producer’s net sales for the quarter rose seven percent over the
Cavco Profits Up for Quarter and Year Read More
The Republic says KBS-Building Systems of South Paris, Maine, is re-opening a manufactured housing plant in Waterford that it had closed in December, laying off 25 employees. According to General Manager Ray Atkisson, the facility was closed due to lack of work and the $700 a month cost to heat
Manufactured Housing Plant Re-opens Read More
The Dow dropped 139.41 points to end the day at 12,584.17 as worries of unemployment caused sell-off. Housing stocks ended the day mixed. Morgan Stanley Consumer Index gained 2.35 percent, Equity Lifestyle Properties was up .34 percent, United Mobile Homes gained .20 percent and Sun Communities was up .18 percent.
Fears Drive Dow Down, While Housing Stocks End the Day Mixed Read More
HousingWire reports mortgage rates fell to a five-month low last week amid news of more unemployment claims filed, and as higher gasoline prices ate up more consumer spending, according to Bankrate. Freddie Mac says the 30-year fixed rate mortgage (FRM) dropped to 4.71 percent, well below the five percent rate
Mortgage Rates Fall Again Reflecting Investors Fears Read More
Following up on a story from May 3, the San Diego Union-Tribune reports that the Oceanside California City Council voted 5-3 during a contentious three-hour meeting to phase out rent control for the residents of factory-built homes. The new ruling will only affect new residents to the communities, not current
California City Council Ends Rent Control in Land Lease Communities Read More
Pr Web reports from Africa that ZY Properties of Lagos, Nigeria has responded to the country’s housing shortage by offering manufactured and modular homes and cabins that can be built and assembled quickly. Noting that Nigeria is a developing country that is trying to catch up to Western and Asian
Nigerian Company Offering Modular and Prefabricated Housing Read More
From the eastern New Jersey shore, Toms River Patch says Ocean County will receive $1.2 million in federal HOME grant funds, part of which is designated for affordable housing rental units. At a public hearing, Freeholder (New Jersey designation for county legislator) Gerry P. Little says Housing and Urban Development
Modular Builder Says He Can Build For Less than Non-Profit Read More
In a communication from American Land Lease, Inc., MHMSM.com learned of the company’s newest community brand, Clearview Communities, an all-age community with many fitness and social activity opportunities and amenities that appeal to the higher-end manufactured housing resident. Operating out of Clearwater, Florida, this real estate investment trust (REIT) owns
New Community Springs from Large Land Lease Operator Read More
Bloomberg reports that Lewis Ranieri says banks should offer debt-for-equity trades with homeowners facing foreclosure, or who owe more than their property is worth. The head of investment group Ranieri Partners LLC, he said many people of modest means were coached into putting down less than 10 percent on a
Mortgage Broker Offers Solution to Avoid Foreclosure Read More
The Dow fell 83.93 points to close at 12,723.58 as news of less than expected job creation in April took its toll, as housing stocks closed mixed. MSCI gained 2.29 percent, and Cavco was up 1.57 percent. Nobility Homes lost 2.77 percent, and Equity Lifestyle Properties fell .51 percent. Palm
Dow Falls on Job Creation News, While Housing Stocks Close Mixed Read More
The Manufactured Housing Global Network has issued manufactured housing production statistics for March, 2011. Of the 4,035 homes produced nationwide, 1,884 were single sections and 2,151 were multi-sectionals. Texas was the top producer with 893 total houses, followed by Alabama with 621 units produced, and Tennessee which manufactured 583 units.
Texas Manufactured and Received the Most Manufactured Homes Read More
New America Media reports that some of the Federal Emergency Management Agency factory-built housing originally designated for Hurricane Katrina relief is now slowly making its way onto American tribal lands. Estimates range from 90,000 to 200,000 for housing units needed to replace inadequate housing on the 565 tribal lands across
Native Americans Slowly Acquiring FEMA Homes Read More
The Gadsden Times in Alabama reports that U.S. Representative Spencer Bachus (R-Ala.) will introduce CJ’s Home Protection Act requiring manufactured housing producers to install weather alert radios in their new homes. Named for C.J. Martin, a young boy who died with his grandmother and great-grandmother during a tornado in Indiana
Bill Will Seek Weather Radios in Manufactured Homes Read More
The Manufactured Housing Association for Regulatory Reform (MHARR) issued a statement vehemently objecting to the Housing and Urban Development (HUD)’s involving the Centers for Disease Control (CDC) investigations of issues of fire, safety and health in the manufactured housing industry, issues already covered by HUD. MHARR sees it as another
MHARR Objects Strongly to Joint Federal Report Read More
From Texas, The Huntsville Item reports the Huntsville City Council is considering a measure to restrict pre-HUD code homes from locating inside the city limits, but will grandfather in ones already there. It will allow existing homes to move to other parts of the city. An amendment to the motion would
SE Texas City Bans Additional Pre-HUD Code Homes Read More
Leagle reports Manufactured Housing Communities of Arizona, Inc. (MHCA), an organization representing community owners, is suing Gene Palma, the Director of the Arizona Department of Fire, Building and Life Safety. MHCA seeks to overturn a ruling requiring the owners of Cherokee Village MH and RV Park to reimburse home owners
Arizona MH/RV Community Lawsuit Involves Wrangling Over Gas Lines Read More
The Dow just barely stayed in the plus column as energy stocks kept a damper on the market, gaining .15 percent to end at 12807.51, as housing stocks closed down or even. Palm Harbor lost 14.29 percent, Cavco was down 6.03 percent, Skyline Corporation dropped 2.87 percent, MSCI fell 1.10
Dow Stays Slightly in Plus Column as Housing Stumbles Read More
From The Seattle Times in Washington State comes word that the head of one of the city’s most prominent real estate investment companies has begun a start-up to build modular apartments, military housing, motels, and student housing. Dale Sperling, former CEO and president of Unico Properties, which manages 15 million
Conventional Commercial Builder Switches to Modular Read More
My North reports a Traverse City, Michigan, contractor offers a 725 square foot modular home he can assemble in a day. Drew Craven uses Structural Insulated Panels (SIP) for the sides, a corrugated metal slanted roof concealing a second bedroom, and sliding barn doors that seal the home’s windows, but
Contractor Offers Modular Homes Assembled in 12 Hours Read More
