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.
Cavco Industries successfully pulled off its takeover of bankrupt Palm Harbor Homes through its subsidiary, Fleetwood Homes, for $83.9 million at a bankruptcy auction March 1. Fleetwood, which is 50 percent owned by Cavco and 50 percent by Third Avenue Value Fund, will acquire essentially all of Palm Harbor’s assets, […]
Fleetwood Homes Wins Palm Harbor Bid in Court Read More
In 1960, John and Charlotte Gunter arrived in Santa Rosa, pulling a 26-foot factory-built home from Kentucky, reports the PressDemocrat.com. They began GV Custom Modular Construction in their home in 1972, and over the next 40 years, developed a multi-million dollar business constructing modular homes, classrooms, and buildings for customers
Industry Pioneer John Gunter Dies Read More
A rent control ordinance at a factory-built community in Coleta, California, may propel a lawsuit to the U.S. Supreme Court. The community’s owner, real estate tycoon Daniel Guggenheim, attempted to convert the land into condominiums, and told the residents they either had to purchase their home sites or eventually lose
Rent Control Issue May Get High Court Hearing Read More
Oil prices nearing the $100 mark sent major markets down over 1 percent, as the Dow fell 1.38 percent to close at 12058.02. Cavco lost 5.68 percent, Skyline was down 3.88 percent and Nobility Homes lost 2.44 percent. Deer Valley, so volatile recently, was unchanged. The Manufactured Housing Composite lost
Dow, Housing Stocks Decline Read More
From Arizona, the Hot Springs Star reports that with 32 homes under contract, the newest modular home manufacturer in the state expects to hire 50 to 70 people when their new facility opens. Mammoth Homes, in Fall River County, South Dakota, is taking advantage of recent changes in property tax
South Dakota Adds a Modular Homes Builder Read More
One day before the House Financial Services Committee holds a hearing on the impact of Dodd-Frank on small business lending, the U.S. Chamber of Commerce, along with the Manufactured Housing Institute (MHI) and other business groups, proposed recommendations for the new Consumer Financial Protection Bureau (CFPB). According to MHI, the
MHI and U.S. Chamber Suggest CFPB Guidelines Read More
ABC News reports that in the far northern remote areas of Australia, called the “Top End,” it is 30 percent less expensive to have modular homes brought in to replace substandard ones than it is to build. The East Arnhem Shire Council’s Ty Johnson said the first of seven cement
Modular Homes Coming to Remote Australia Read More
According to YAHOO! Finance, Warren Buffett had this to say in his annual letter to Berkshire shareholders, on the heels of acquiring railroad Burlington Northern Santa Fe: “Our elephant gun has been reloaded, and my trigger finger is itchy.” He acquired Burlington for $44 billion just over a year ago,
Warren Buffett Going Big Game Hunting—Again Read More
PR Newswire reports from Tampa, Florida, that with tight credit and higher down payments required for home buyers, the rental market is increasing in factory-built communities across the Sunshine State, driving up their value. Because of the real estate boom, some communities have been converted to other commercial use, leaving
Value of Florida Communities on the Rise Read More
As part of the Obama Administration’s Partnership for Sustainable Communities, which is encouraging cities across the country to develop more housing choices, Department of Housing and Urban Development (HUD) and National Endowment for the Arts (NEA) officials met in Miami Feb. 18 with representatives of 125 business and civic entities. As
HUD Lays Groundwork to Develop Thriving Communities Read More
The Dow ended the day up 95.89 points to close at 12,226.34, the third straight month of gains. Most housing stocks closed up as well. Deer Valley was up 48.59 percent, Nobility Homes gained 2.63 percent, Cavco was up .67 percent. Skyline dropped 1.13 percent. The Manufactured Housing Composite gained
Dow, Most Housing Stocks, Close Up Read More
In speaking at Cleveland State University in Ohio, Feb. 22, at a forum on entrepreneurship and the future of small business, President Barack Obama explained that large businesses are important to our economy because they employ thousands of people. As reported in the Cleveland Plain Dealer, he noted that they
President Obama Says Small-business Innovation Is Key to Progress Read More
The Ogemaw County Herald in Michigan reports that a new county ordinance will not allow any manufactured home 20 years or older to be brought into the county. The new standards were approved unanimously by the Ogemaw County Board of Commissioners Feb. 24, and will take effect March 11. Homes
County Ordinance Prohibits Older Homes Moving In or Around Read More
One bedroom modular units are being shipped from the former Olympic athletes’ village in Whistler to provide housing in Saanich, British Columbia for 36 homeless people, 55 and older, called Olympic Vista. The collaborative effort of several organizations, the units are trucked in and stacked on top of each other,
Olympic Village Modular Units Get Second Life Read More
A “Know Your Rights” workshop was presented by the South Coastal Counties Legal Services (SCCSL), Inc., to over 50 residents of manufactured home communities in Taunton, Massachusetts. Attendees learned about resident and owner responsibilities, rent control, eviction procedures, local ordinances, and the new Homestead Act. Funded by a grant from
Community Residents Learn Rights and Resources Read More
For utilizing environmentally friendly building practices, the Leadership in Energy and Environmental Design (LEED) Silver Certification has been awarded to one of the recently completed modular buildings at Fort Bliss, Texas. It is one of 34 two-story permanent structures, encompassing over 2,000 apartments, for housing enlisted personnel. Subcontractor Warrior Group
Army Base Receives Large Modular Housing Units Read More
If the residential finance market is fully privatized as outlined in the Obama Administration’s white paper, Walker & Dunlop’s CEO Willy Walker says lenders will loan only to top borrowers. This will shut down at least 20% of subprime borrowers, moving them to rental markets. “For multifamily, that is clearly
Real Estate Conference Predicts Multifamily to Grow Read More
Bloomberg.com reports excerpts from billionaire investor Warren Buffett’s annual letter to Berkshire Hathaway Inc. shareholders Saturday. On the topic of home buying, Buffet urged the policymakers who are getting ready to overhaul the nation’s home loan policies to consider the example of Berkshire’s manufactured home unit, Clayton Homes, which also
Warren Buffet Addresses Home Ownership in Annual Letter Read More
Despite oil prices surging more than 9 percent in one week, the Dow closed up just over one-half point at 12,130.45. Skyline Corp finished up 8.61 percent, and Cavco gained 2.97 percent. Nobility dropped .25 percent, and Deer Valley lost 32.69 percent. The Manufactured Housing Composite gained 3.25 percent to
Week Ends with Another Mixed Day Read More
The Department of Justice revised a regulation for Title III of the Americans with Disabilities Act (ADA) that covers public accommodations. As reported in the Manufactured Housing Institute’s (MHI) Week In Review for Feb. 25, the revision refers to accessibility for swimming pools. If it is for the exclusive use
As Swimsuit Season Approaches, ADA Issue Looms on MHI Radar Read More
