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.
On Feb. 11 the Obama Administration offered a plan to reform the mortgage finance industry. It would involve shrinking Fannie Mae and Freddie Mac at 10 percent per year, requiring a down payment of at least 10 percent for Fannie and Freddie loans, and making other changes to help increase …
Disappointing earnings news had stocks ten points lower Thursday, while the Manufactured Housing Composite Value rose 1.4 percent. Cavco closed higher by more than one percent and Skyline Corporation enjoyed a 3.6 percent gain. On the downside, Nobility Homes and Universal Forest Products were down more than three percent.
CNET News reports that modular classrooms for public schools may move beyond the temporary to a more permanent status. The Bolsa Knolls Middle School in Salinas, CA is made of almost entirely recyclable materials, and exceeds the California Title Energy Code by 30 percent. Built by American Modular Systems, the …
Modular School Buildings in California from Recyclables Read More
The Utah legislature is set to hear discussion on a proposed bill that would set up an arbitration mechanism between homeowners and community owners. This bill would charge community owners an annual $10 fee to fund a potential mediation process. Homeowners claim they are at the mercy of the community …
Delaware House Bill 392, enacted in July 2010, requires a manufactured housing community to have a community center available for its residents. As reported in the DelawareOnLine News Journal of February 9, in an August 2010 meeting with state legislators, a homeowners association (HOA) president claimed his community did not …
In a January, 2011 online poll of 2,079 adults over 18, conducted by Harris Interactive on behalf of Trulia, the real estate search engine, 70 percent still view home ownership as being part of their American Dream, and 78 percent think their home is the best investment they have ever …
The Small Business Jobs Act of 2010 mandates that as of Jan.1, 2011, independent landlords must file IRS Form 1099 for transactions totaling more than $600.00 in a year. In addition, according to a report from the National Association of Home Builders (NAHB), beginning in 2012 all businesses will be …
After a day in the red, the Dow managed to close up six points Wednesday, marking the eighth straight day of gains. The fate wasn’t the same for the Manufactured Housing Composite Value, which lost more than three percent. The largest losses were recorded by Cavco, which closed down more …
Net income for this provider of manufactured homes and RV’s jumped nearly 13 percent to $38.4 million over 2009 despite the economic downturn. According to Medill Reports, this Chicago-based real estate investment trust (REIT), which has a controlling interest in over 300 North American resorts comprising more than 10,000 home …
The Credit Union Times reports that San Antonio Federal Credit Union Chief Operating Officer Stephen S. Hennigan has been named president of the credit union. The Trade Journal says Hennigan has been credited with being integral in helping create Credit Union Factory Built Lending, a credit union service organization (CUSO), …
According to the Manufactured Housing Institute (MHI)’s Monthly Economic Report, just under 2,800 new single and double section HUD code homes were shipped in December 2010, down 22.2 percent from the previous December. On the year, total shipments numbered 50,046 as compared to 49,789 for 2009. Total floors shipped in …
In a letter to Treasury Secretary Timothy Geithner and HUD Secretary Shaun Donovan dated February 9, American Bankers Association (ABA)’s President and CEO Frank Keating suggests the government’s primary role be limited to ensuring stability in the event of market failure, and it should gradually exit the primary housing finance …
In an attempt to reduce the government’s role in the mortgage business, the Obama administration – according to a CNN Money report – is proposing to eventually shut down Fannie Mae and Freddie Mac, and will offer several options as part of its plan. In the pockets of taxpayers to …
Home values in the United States posted their largest quarterly decline since the first quarter of 2009, falling 2.6 percent as the temporary stimulus of the home buyer tax credits wore off, according to Zillow’s fourth quarter Real Estate Market Reports. The Zillow Home Value Index declined 5.9 percent year-over-year …
The Dow added more than 70 points Tuesday, logging the seventh straight day of gains, on good news from consumer companies like McDonald’s and JCPenney. The Manufactured Housing Composite Value added 2.6 percent. Manufactured housing and related stocks with strong performance include Skyline Corporation, Nobility Homes, Cavco and Universal Forest …
Consumer Companies, MH Stocks Have Good Day on Wall Street Read More
From Sunbury, Pennsylvania the Danbury Item ran a story this week about that state’s sprinkler mandate. The mandate went into effect January 1 and requires all new one- and two-family homes in Pennsylvania to have an automatic fire sprinkler system. Builders estimate the cost can range anywhere from $5,000 to …
Despite the acute housing shortage in England and the lengthy time required for a site-built home, modular construction remains opposed by the conservative home building industry from top to bottom. From The Independent comes the article, “Why is the property industry dragging its feet over prefabs?” While noting modular housing …
Tradition Stronger than Modular Housing in England Read More
From Canada, Karoleena Homes issued a press release this week focusing on the company’s concentration on urban areas and transition from site-built to modular construction. The release says Karoleena is moving toward sustainable construction, walkable communities and future-ready homes. The move to modular is credited as coming from the growing …
From Maine, the Kennebec Journal ran an article about last weekend’s manufactured housing show. The article focuses on attendees, including Deb Parry and John Harker who came looking for a smaller, more efficient retirement home that allows for low maintenance. They were also looking to save money through energy efficiency. …
CNBC reports the Obama administration may look to cut government support for the mortgage market to below 50 percent over time. Fannie Mae and Freddie Mac currently backstop more than 85 percent of the mortgage market. Key housing officials were expected to meet at the White House late Tuesday to …
Plan May Reduce Fannie and Freddie Role in Mortgages Read More
