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.
After a day in the red, the Dow closed modestly higher Friday following a week of strong gains. News that the unemployment rate rose to 9.8 percent in November brought the blues to Wall Street for most of the day. Construction companies contributed to the lower numbers, slashing some 5,000 …
McMansions are rapidly becoming the housing equivalent of harvest gold appliances as more Americans are opting for smaller residential footprints, according to a new Relocation.com consumer lifestyle survey. Small homes in the suburbs? Sound like a market the manufactured home industry could tap into! In the survey, homeowners and buyers …
With plans to change the Mortgage Interest Deduction (MID) being presented to Congress in hopes of reducing the federal budget deficit, homebuilders, industry and realtor groups are urging the maintenance of the benefit in its full potency. National Association of Homebuilders (NAHB) Chairman Bob Jones recently said reducing the benefit …
MHI, Realtors, Home Builders Urge Action to Save Mortgage Interest Deduction Read More
Markets continued to rally Thursday with the Dow moving up more than 100 points on new U.S. home sales, and retail sales topped estimates. The Manufactured Housing Composite Value gained half of one percent. Top performers among manufactured housing and related stocks include Drew Industries, up more than four percent; …
Drew Industries, a leading supplier of components for recreational vehicles (RV) and manufactured homes, announced Thursday that its Board of Directors approved a special cash dividend of $1.50 per share of common stock. The dividend is payable on December 28, 2010 to stockholders of record at the close of business …
From Oregon, the Gazette Times ran a story indicating struggling Palm Harbor Homes won’t close despite bankruptcy filing. The report indicated a 120-employee plant in Millersburg, Oregon will continue operations as usual. It is one of five Palm Harbor facilities in Oregon. Officials said the filing comes after four years …
The Dow Jones Industrial Average rose just shy of 250 points on Wednesday as Goldman Sachs raised their forecast for U.S. economic growth. Manufactured housing and related stocks also closed mostly higher. Universal Forest Products was up nearly five percent, Drew Industries was up 3.6 percent and Cavco rose 2.6 …
A November 16 article in the Virginian-Pilot carried the headline Fast-moving fires pose special risk in mobile homes. At first sight, this headline would seem another instance where the media unfairly implies negative judgment on the quality and safety of factory-built housing. But the article then quotes fire officials who …
Experts Say Manufactured Homes Not More Prone to Fire Read More
Remember the debt crisis in Greece that brought down stocks for a while a few months ago? Now it’s a concern a European debt crisis is getting out of control that’s closing the damper on the market. The Dow closed down 46 points Tuesday and global stocks fell to the …
Down Down, Palm Harbor Slides with it, Cavco Gains Read More
While housing prices are still above their spring 2009 lows, the end of the tax incentives and still active foreclosures appear to be weighing down the market. Data through September, 2010, released Tuesday by Standard & Poor’s for its S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, …
Broad-based Declines in Home Prices in the 3rd Quarter of 2010 Read More
CNBC ran a story Tuesday on the RV Indicator. Sales of RV’s or recreational vehicles tend to tank first in a tough economy and rebound first in a recovery. RV shipments for 2011 are expected to be up 8.2 percent, a sign that recovery is at hand. Also …
The Courthouse News Service reports that people who live on an island in Oregon where the Columbia meets the Willamette River have sued the state, claiming the a plan to dump chemical-laden dredge fill near Hayden Island will hurt wildlife, plants and the elderly people who live there. The report …
Manufactured Home Community Sues Oregon Over Dump Site Read More
Shares of Palm Harbor Homes shot up Monday following a Chapter 11 bankruptcy filing and the announcement of an asset purchase agreement by Cavco. The Dow ended lower, however, but the 39 point decline was a marked improvement from losses earlier in the day. Palm Harbor Homes ended the day …
DQNews.com reported Monday that home sales in the Phoenix area dropped to the lowest level for an October since 1995. The real estate data service says the region’s overall median sale price fell below the year-ago level for the fourth consecutive month. The site also says last month foreclosure resales, …
HousingWire reports that Fannie Mae and Freddie Mac recently gave real estate agents the green light to resume selling foreclosed homes. Sales had been suspending as a result of the “robo-signing” debacle. The site referenced a Freddie Mac memo ordering the resuming of normal sales and marketing activity. Moratoriums issued …
CNBC Real Estate Reporter Diana Olick asked in a piece Monday whether rising rents will spur home ownership. Olick notes that apartment demand is rising, and supply has fallen to low levels. Echo boomers reaching prime renter age at a time when the employment picture is improving are expected to …
Real Estate Reporter Says Home Ownership Attitudes Have Changed for Good Read More
Cavco Industries announced Monday that Fleetwood Homes, Inc., a subsidiary owned 50 percent by Cavco and 50 percent by Third Avenue Value Fund, has entered into an agreement with Palm Harbor Homes to provide debtor-in-possession (DIP) financing to Palm Harbor and certain of its subsidiaries during the reorganization of Palm …
Cavco Announces Palm Harbor Asset Purchase Agreement Read More
Stocks closed down 95 points Friday, arriving at 11,092. Palm Harbor Homes managed to close up 20 percent, however, and arrived at 14 cents per share. Most manufactured housing and related stocks on the watch list were within one percentage point up or down from Wednesday’s close before the Thanksgiving …
EpicStockPicks.com named Palm Harbor Homes one of its Top Losers On NASDAQ November 23rd. The company slumped 16.11 percent to $0.28 after falling to its 52-week low of $0.13 in the opening session. The site also noted the stock has plunged 93 percent so far in the current year.
From Mississippi, the Picayune Item reports that county officials indicated recently that federal, state and local officials are tightening code enforcement of wind zone rating regulations. According to the report, Pearl River County carries a wind zone rating of two, and in order to connect to the power grid a …
Manufactured Homes in MS County Have to Meet Wind Zone II Ratings Read More
