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.
CNNMoney.com reports that during the housing boom, adjustable-rate mortgages (ARMs) comprised 70% of the housing market, but currently make up only five percent. Freddie Mac says it will be 10 percent by December. Now they are a bargain at 3.5 percent, while conventional 30-year fixed- rate mortgages are at five […]
ARMs Are Slowly Returning Read More
HousingWire.com reports Elizabeth Warren telling the Independent Community Bankers Association that the new Consumer Financial Protection Bureau (CFPB) will reduce regulatory costs for smaller financial institutions. Warren, the builder of the CFPB and likely first director, said the first order of business will be to combine the Trust in Lending
CFPB Set to Support Smaller Financial Institutions Read More
As reported in The Vancouver Sun, following the tragedy in Japan, British Columbia businesses that assisted in Indonesia following the tsunami in 2004 have similarly offered their assistance to Japan, but have yet to hear back. Britco, a BC manufacturer of modular homes and buildings, supplied 500 modular homes through
Canadian Builders Offering Assistance to Japan Read More
HousingWire.com says legislation that gives a homeowner the opportunity to go through a foreclosure mediation process before the default judgment is issued, passed out of the Connecticut Assembly’s banks committee. The homeowner would be given sufficient time to seek mediation assistance. Meanwhile, a bill introduced in Congress would provide HUD
Foreclosure Mediation Assistance in Connecticut and Congress Read More
Danbury Patch of Connecticut says Housatonic Habitat for Humanity in Danbury has the approval of the Planning Commission for five modular condos, the first time Housatonic has used modular methods. The project will be completed in 2011, and will cost less than conventional building. Habitat requires new owners to contribute
Habitat for Humanity Builds in Connecticut Read More
As the nuclear crisis in Japan comes under more control, the Dow gained 178 points to top the twelve thousand mark and close at 12,036.53. Cavco gained 3.69 percent, and Skyline Corp. was up 2.70 percent. Nobility Homes and Deer Valley were unchanged. The Manufactured Housing Composite gained 2.98 percent
Dow, Most Housing Stocks Advance for Third Day in a Row Read More
Indedpendentmail.com in Anderson, South Carolina, reports that the town of Seneca SC, in conjunction with Habitat for Humanity, installed two modular homes as part of a subdivision that will include 12 homes when the project is completed. The city installed the utility infrastructure for water and electricity. Each home will
Habitat for Humanity Building Modular Subdivision in SC Read More
The East Dubuque Register reports that effective Jan.1 of this year, the Illinois legislature has changed the method for taxing manufactured homes. If you remain in a licensed manufactured home community, you will continue to be taxed based on the square footage and the age of your home according to
Illinois Law Penalizes for Moving Manufactured Home Read More
Jerry Rouleau, 62, involved in the housing industry as an advocate, speaker, consultant, author, and builder for decades, died after a battle with cancer in Hartford, Connecticut, March 15. An active member of the National Association of Home Builders (NAHB), he spoke often at their International Builder Shows. In addition,
Longtime Home Building Advocate Dies after Battling Cancer Read More
Chicago, IL. Allegations circulated by email claimed a second Capital First Realty property, Sunset Village in Glenview, IL, may be closed as a manufactured home community. The email from an unidentified source alleged that letters were issued from the bankruptcy court to residents, giving them one year to vacate. While
Capital First Realty Denies New Rumor about Second LL Community Read More
News-press.com in Florida offers a legal Q & A column. Questioner lives in a manufactured home community six months of the year, pays for lawn maintenance, but has a rock garden instead of grass. They have to weed their own rock garden despite paying for lawn care, and have to
Does Yard Maintenance Include a Rock Garden? Read More
A post originally published here March 14 said Christchuch, New Zealand, would receive 500 modular homes to temporarily house people while their homes are repaired following the Feb. 22 earthquake. Now, Stuff.co.nz says the Department of Building and Housing is requesting 2500 modular homes, because housing for out-of-town work crews is
New Zealand Ups the Need for Modulars Read More
ShoreNewsToday.com reports that construction permits for new homes in Avalon, New Jersey, increased from 534 in 2009 to 591 in 2010. Borough construction official John Tracy said, “Modular homes are catching on. Ten permits were given for modular homes in 2010. This year, there are already 14.” Some question the
Modular Homes Going Up Near Beachfront Read More
Chicago, IL. Allegations have been circulating by email that Sterling Estates in Justice, IL will be closed as a manufactured housing community. The email alleges that letters have gone out from the bankruptcy court to residents, giving them 1 year to vacate. The email further alleges that residents were also
Capital First Realty Denies Rumors Read More
The Dow closed up for the second day in a row as a cease-fire in Libya began, but tempered by the turmoil in Japan. It gained 83.93 points to close at 11858.82. Housing stocks also closed up or even. Skyline Corp. was up 5.66 percent and Cavco gained 3.88 percent.
Dow Closes Up Friday, Down for Week Read More
The Tennessean reports that Lloyd D. Link passed away March 15, 2011 in Nashville, Tennessee. He was an entrepreneur involved in auto racing, manufacturing electrical safety equipment for punch presses, and installing safety equipment in factories. He also founded a real estate company and was an early developer of modular
Early Modular Home Developer Dies Read More
As reported in California’s St. Helena Star, the St. Helena City Council will meet March 22 to hear a presentation by Silver Crest Homes concerning modular homes and the city’s contribution to affordable housing. Also on the agenda is the status of the Affordable Housing Committee.
California City Council Considers Affordable Modular Housing Read More
RealEstateRama reports that the Manufactured Housing Institute’s (MHI) annual Legislative Conference in the nation’s capitol resulted in 20 percent more meetings with Members of Congress and staff than last year. Said Thayer Long, executive vice-president of MHI, “The message to Congress is simple. For the past two decades manufactured housing
MHI Annual Conference Attendees Lobby Congress Read More
Following up on a post from Feb. 21 from TheTandD.com, of Orangeburg, South Carolina, the Cope Town Council approved a final ruling to ban future locations of manufactured housing within the town limits. Current homes will be grandfathered in. A manufactured home sitting on property that is sold will be given
Final Ordinance Bans Manufactured Homes from Town Read More
Following up on a post from March 17, Bed-StyPatch.com reports that New York City unions are infuriated over developer Forest City Ratner’s plan for a steel modular building in Brooklyn’s Atlantic Yards. The company says modular construction could cut their costs in half for the 34-story project, the tallest modular
New York Unions Torched Over Proposed Modular Steel Tower Read More
