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 Arizona Republic ran a story this week about the efforts by Cavco to purchase bankrupt Palm Harbor Homes. The article notes that sales are at their lowest level in 50 years and Cavco is seeking to grow through purchasing another competitor. In August, 2009, Cavco bought Fleetwood Enterprises for […]
Stegmayer Talks to Arizona Paper about Palm Harbor Read More
Investors were shedding shares Friday as the Dow dropped 165 points or 1.3 percent. The Manufactured Housing Composite Value fared much worse, dropping more than five percent. Cavco was down almost seven percent. Skyline Homes ended down more than five percent. Universal Forest Products was down more than four percent.
Friday Sell-off on Wall Street Read More
Business relocation coach Joseph Vranich says a record number of companies left California in 2010, including Fleetwood Enterprises. 204 companies left the Golden State in 2010, four times the 2009 level. Fleetwood Enterprises, Inc. had been headquartered in Riverside, went bankrupt, has been partially revived as Fleetwood RV Inc. and
Record Number of Companies Leave California Read More
The Manufactured Housing Institute (MHI) says it is urging Congress to support the use of a rental voucher for the full cost of purchasing a manufactured home sited on leased land, by permitting funds to be used for both the cost of leasing the land, and for the monthly home
MHI Supports Section 8 Rental Housing Program Read More
The Manufactured Housing Institute (MHI) reports that on January 26, Reps. Ken Calvert (R-CA) and Joe Donnelly (D-IN) began circulating a “Dear Colleague” letter urging members of the U.S. House of Representatives to support the manufactured housing industry and millions of American families that rely on a manufactured home as
A California state legislator is looking into a bill that would allow city and county governments, when successful in defending rent control ordinances, to charge the party who brought the challenge for the government’s legal expenses, according to the San Jose Mercury News. A representative of Assemblyman Bill Monning, D-Carmel,
California Bill Would Help Municipalities Defend Rent Control Read More
The latest National Association of Home Builders’ (NAHB) report says remodelers are starting to see an uptick in interest from consumers who are considering future remodeling projects. Remodeling Market Index (RMI) edged up to 41.5 in the fourth quarter of 2010, compared to 40.8 in the third quarter. An RMI
Remodelers Expect Market Gains During 2011 Read More
Cavco Industries announced financial results Friday for the third quarter and first nine months of its fiscal year 2011 ended December 31, 2010. Net sales for the third quarter of fiscal 2011 totaled $39,612,000, up 9 percent from $36,369,000 for the third quarter of fiscal year 2010. Net income attributable
CAVCO Moves Into Black Read More
While manufactured homes in the United States are somewhat distinct from other forms of both factory-built and site-built housing because they follow federal manufacturing and safety standards, Kathleen Maynard, Executive Director and CEO of the Canadian Manufactured Housing Institute explains in an exclusive interview with MHMSM.com that there is no
Maynard: Nothing Like the HUD Code in Canada Read More
Stocks remained essentially flat Thursday while the Manufactured Housing Composite Value lost nearly one percent. The biggest decliner was Deer Valley Corp., down nearly four percent. Sun Communities and Global Diversified Industries posted small gains.
MH Stocks Close Lower Read More
An Oklahoma Legislator is working with the Manufactured Housing Association of Oklahoma to help provide sample emergency plans for manufactured and mobile home communities to prevent deaths in the event of a tornado. Oklahoma State Rep. Pat Ownbey has made several legislative attempts to mandate the emergency plans, but has
Oklahoma Association Provides Tornado Emergency Outreach Read More
From California and NoozHawk.com, Santa Barbara County Superior Court Judge Denise de Bellefeuille issued a decision this week siding with the tenants of Rancho Mobile Home Park in a lengthy battle over rent control. After years of pricey legal battles, the city had approved an agreement with the community owner,
Judge Sides with Tenants in Rent-Control Case Read More
Pending home sales improved further in December, marking the fifth gain in the past six months, according to the National Association of Realtors®. The Pending Home Sales Index (PHSI) increased 2.0 percent to 93.7 based on contracts signed in December from a downwardly revised 91.9 in November. The index is
The Dow moved across the 12,000 line several times on Wednesday, then fell back, ending at 11,985. Many manufactured housing and related stocks outperformed the averages, however. Axle maker TJT Inc. was up more than eight percent; Universal Forest Products and Drew Industries were up more than three percent. Barnes
Dow Crosses 12,000, Pulls Back Read More
Fewer Americans are applying for mortgages. The Mortgage Bankers Association (MBA) released its Weekly Mortgage Applications Survey Wednesday for the week ending January 21, finding that a measure of mortgage loan application volume decreased 12.9 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the
Mortgage Applications Decrease in Latest MBA Weekly Survey Read More
From North Carolina, Chapel Hill News featured a story on the development of Clayton’s i-house. The article says the home, originally unveiled in 2009, was the result of Kevin Clayton’s goal was to bring sustainable and energy-efficient housing to those who typically could not afford it. The i-house comes in
NC Paper Features I-House Read More
The Los Angeles Times ran a story this week about the developing recreational vehicle industry in China. According to the Times, China is hungry for the kind of recreational vehicles built in Southern California, and entrepreneur Winston Chung has struck a deal with Riverside-based MVP RV to export $5 billion
China Hungry for California-Style RV’s Read More
MHI held a conference call with 37 member state association executives and their staffs on Thursday, January 20. During the call, MHI staff discussed new Congressional membership of the House Financial Services Committee and the Senate Banking Committee. Discussed were MHI actions related to the review and reform of Dodd-Frank
MHI Holds Conference Call with State Associations Read More
Industry members participated this week in a high-level briefing on Capitol Hill focused on high energy performance in manufactured and modular homes. Emanuel Levy, Systems Building Research Alliance, and Kevin Clayton, Clayton Homes, Inc., presented to a standing-room-only audience. Manufactured Housing Congressional Caucus co-chair Ken Calvert (R-CA) kicked off the
MHI Briefs Congress on Finance and Energy Issues for Manufactured Housing Read More
From Texas, the Seguin Gazette reports that a gas leak prompted a brief evacuation at a Cavco plant there. The report indicted a fork lift had hit an overhead gas line. Within 20 minutes, the gas was off and the workers returned.
Gas Leak Forces Evacuation at Cavco Plant Read More
