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.
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 […]
Equity Lifestyle Properties Rebounds Read More
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),
MH Lending Guru Names President of Credit Union Read More
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
Industry Shipments Up 0.5 Percent Read More
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
Bankers: Government Should Exit Finance Market Read More
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
Fannie and Freddie Could Be Phased Out Read More
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
Home Values Post Another Decline Read More
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
PA Groups Fighting Sprinkler Mandate Read More
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
Canadian Builder Moving to Modular Read More
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.
Maine Wraps Up Manufactured Housing Show Read More
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
Overall, Fannie Mae financing for multi-family rental properties dropped from $19.8 billion in 2009 to $16.9 billion in 2010, a 14 percent decrease. According to Housingwire, financing for manufactured housing communities dropped more than 50 percent, from $1.1 billion in 2009 to $540 million last year. Senior housing projects financing
Fannie Mae Registers Sharp Manufactured Housing Decline Read More
Several mergers announced Monday gave investors renewed confidence in the economy that sent stocks up nearly 70 points. The Manufactured Housing Composite Value rose nearly three percentage points. Several stocks had sizeable individual gains including Cavco, up more than four percent; Barnes Group, up more than three percent and UMH
Merger Monday Sends Stocks Higher Read More
Housingwire reports that the publishers of a Bank of America Merrill Lynch Securitization Weekly Overview say plans by Republicans to wind down the operations of Fannie Mae and Freddie Mac in next four years may be too ambitious, with a true transition expected to take up to six years. As
Bankers Say Republican Plan for Fannie and Freddie Ambitious Read More
The Press of Atlantic City ran a story recently encouraging readers to thing of manufactured housing as affordable rather than mobile. The newspaper calls the product “one of the few remaining means of comfortable yet affordable home ownership in New Jersey.” The article refers to Atlantic Gardens in Egg Harbor,
New Jersey Paper Says ‘Mobile’ No More Read More
Through the combination of government funding, and community donations and support, the modular homes that housed Olympic athletes during last year’s winter games will now be home to people with mental health problems who otherwise might be at risk for homelessness. According to British Columbia’s Coast Reporter, the $3.7 million
Olympic Housing Gets New Life Read More
The old adage that sold Packard automobiles for many years, “Ask the Man Who Owns One,” still rings true in Clayton Homes’ Abilene, Texas office. General manager Buddy Parish, a veteran of nearly thirty-five years selling manufactured homes, earned the company’s Five Star Service Award sixteen out of the last seventeen
Old Adage Holds True in Abilene Read More
The Manufactured Housing Institute (MHI) reports that on February 3, House Budget Committee Chairman Paul Ryan (R-WI) released a budget allocation for the remainder of fiscal year 2011— federal programs are currently operating a stopgap continuing funding resolution that expires March 4—that would cap spending at $1.05 trillion and trim
House Budget Plan Calls for $32 Billion Cut Read More
The Dow spent several days last week above the 12,000 mark, and ended the week 92 points above this milestone. Most manufactured housing and related stocks ended the day down. Cavco was off more than three percent and Skyline Corporation was down 2.45 percent. All American Group ended the day
Stocks End Week on a High Note Read More
