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 ended the week down, though it gained nearly half a percent (56.68 points) for the day on news of inflation and consumer sentiment to end the week’s trading at 12,341.83. Housing stocks were mixed, as Skyline Corp. closed up 4.11 percent, Cavco gained .07 percent and Nobility Homes […]
Dow Ends the Week Down, Housing Stocks Mixed Read More
The Wall Street Journal reports that construction of temporary housing is just beginning in the tsunami/earthquake ravaged north of Japan, with 4337 modular units having been built so far. Australian companies have been meeting with officials of the Japanese Embassy to develop a plan to provide some of the 30,000
Australian Companies Bidding on Modular Units for Japan Read More
The Las Vegas Review Journal reports that the city with the highest foreclosure rate in the nation – Las Vegas – is supplying Haiti with steel modular homes for the one million who remain homeless following the earthquake last year. Sancta, from the Spanish for sanctuary, shipped its first home
Sancta Sending Modular Homes to Haiti Read More
From Virginia, the Daily News-Register says the Page County Board of Supervisors has rejected an application from Century Luray LC to develop a 232-homesite manufactured housing community in Luray, VA. County attorney George Shanks said that the county code of 1989 did allow for manufactured housing communities in town, but
Board of Supervisors Denies Application for MH Community Read More
BusinessWire reports that the Dublin-based Research and Markets firm has added manufactured housing (MH) to the list of industries included in its reports. The article says the $3 billion MH industry comprises 200 companies, but is dominated by eight firms accounting for 60 percent of revenue. Four of the largest
Irish Research Firm Now Includes MH in Industry Reports Read More
Scribd reports that the Manufactured Housing Institute (MHI) filed an amicus curiae (friend of the court) brief in support of petitioners who are appealing a decision in federal court that denied their claim challenging a rent control ordinance in Goleta, California. Petitioners bought a factory-built community in Goleta and had
MHI Supports Petitioners in Supreme Court Case Read More
HousingWire says according to Standard & Poor’s, the new risk retention rule will produce more stable mortgages in the long run, but the immediate effect will continue to suppress the housing market. Federal regulators are proposing banks maintain a five percent risk in all loans that do not meet the
New Risk Retention Rule Could Prolong Housing Agony Read More
The Dow overcame losses earlier in the day as the price of commodities and energy increased to end the day up 14.12 points, closing at 12,285.15. Most housing stocks closed up, Deer Valley dramatically so, gaining 41.43 percent. Cavco was up 1.82 percent, Skyline Corp. gained .16 percent, while Nobility
Dow Nudges Up, Most Housing Stocks Gain as Well Read More
The New York Times reports that the 52 week change in the price of stock for Nobility Homes was minus 12.50 percent. That number for Skyline Corporation was minus 2.52 percent, but for Cavco it was plus 20.64 percent. The 52-week percent change for Deer Valley was not available, but
Housing Stock Prices Fluctuate Over One Year Read More
LJWorld reports that modular home retailer Webster’s, Inc., in Lawrence, Kansas, is closing after 44 years in business. Jonathan Becker, attorney for Webster’s, said that University National Bank called in its note on the company’s financing. He said the bank has been under federal regulatory control to straighten out some
Modular Dealer Closes Suddenly after Bank Calls in Note Read More
The Weekly Calistogan in Calistoga, California, tells of a battle going on between manufactured housing community owners and residents over rent control, and the city is in the middle. The owners are raising rental fees beyond what local law allows, and the residents are getting financial help from the city
City in the Middle Between Residents and Owners Read More
Following up on a post from March 22, Daily Commercial News says Canadian modular builder Britco has begun talks with private and public officials to provide temporary modular schools, offices and hospitals following the devastation in northern Japan March11. Vice-president Chris Gardner says people’s needs for food and shelter come
Canadian Modular Builder in Talks with Japan Read More
Reuters reports that RealtyTrac says foreclosure filings in the first quarter fell to their lowest level since the first quarter of 2208, down 26.9 percent. Filings rose in March over February 6.5 percent, but were down from March 2010 34.7 percent. Lenders seized 6 percent fewer homes than in the
Foreclosure Filings Down, but May Be Temporary Read More
HousingWire says the U.S. Senate Permanent Subcommittee on Investigations released a report about the recent financial crisis targeting the Office of Thrift Supervision (OTS) for regulatory failures, conflicts of interest and lack of oversight regarding risky financial products. Senators Carl Levin (D-Mich.) and Tom Coburn (R-Okla.) released the report, which
Senate Study Slams OTS, Wall Street, and Lenders Read More
The Dow moved up 7.41 percent to 12,270.99 on news of President Obama’s plan to trim the deficit by $4 trillion. Skyline Corp. lost 2.15 percent and Cavco was down .16 percent. Nobility Homes and Deer Valley remained unchanged. The Manufactured Housing Composite lost .78 percent to close at 1126.10.
Proposed Budget Cut Affects Stocks Differently Read More
American Banking & Market News reports that Sun Communities, Inc. (NYSE: SUI), which owns and operates 124 manufactured housing communities in the United States, reported earnings per share (EPS) of .78 cents for the previous quarter. This is .08 cents per share better than the same quarter in the previous
Price Target on Shares of Sun Communities Raised Read More
The Durant Daily Democrat reports from Calera, Oklahoma, that David Strickland has purchased 25 acres in town and wants to develop a manufactured home community. He brought his preliminary plans to a Calera Council meeting in this southeastern Oklahoma town and addressed concerns of citizens about how it would look.
MH Community Being Planned for Oklahoma Read More
The Chicago Tribune reports that the Four Seasons manufactured home community in Belvidere, Illinois, has not been the same since Beverly and Richard Roeschel moved there 11 years ago. After retiring from their jobs a few years ago, they turned their attention to the community, which has a number of
New Residents Bring Enthusiasm to MH Community Read More
Bob Nielsen, Chairman of the National Association of Home Builders (NAHB), responding to President Obama’s proposal in a speech today to limit the mortgage interest deduction (MID), said, “Home owners cannot afford higher taxes at a time when the housing market is struggling to recover and contribute to economic growth….
NAHB Chairman Refutes Limiting Mortgage Interest Deduction Read More
ChicoER reports the Board of Supervisors of Butte County, California, unanimously voted to not require manufactured housing to have fire sprinkler systems installed. Butte County Fire Chief George Morris said the systems are required under new state law to be installed in all new residences under the “state responsibility area.”
County Supervisors Douse Sprinklers in MH Read More
