On a day when the markets were muted and down awaiting several developments on trade and other politically or macro-economic sensitive issues, we’ll look this evening at a promotion by one of the top ten states in manufactured housing industry shipments. Beyond our left-right news summary bullets, today’s market graphics, and our standard introductory information to enlighten our growing number of readers, that trade association promotion will be this evening’s focus report.
Longtime readers please note there are a few tweaks to some of the standard portions of our evening market/investing report. Read carefully as some changes of the ‘standard text’ that follows before our left-right headlines and also in other features near the end of tonight’s reports.
Every evening our headlines that follow provide snapshots from two major media outlets on each side of the left-right news spectrum that reflect topics that influence or move investor sentiment. In moments on this business evening report, you can get ‘insights-at-a-glance.’
This report also sets the broader context for manufactured housing markets, in keeping with our mantra, “News through the lens of manufactured homes and factory-built housing” ©.
We begin with headlines left-of-center CNN followed by right-of-center Fox Business. We share closing tickers and other related data courtesy of Yahoo Finance, and more. 5 to 10 minutes reading this MHProNews market report every business night could save you 30 minutes to an hour of similar reading or fact-gathering elsewhere.
Perhaps more important, you will get insights about the industry from experts that care, but also dare to challenge the routine narrative that arguably keeps manufactured housing underperforming during an affordable housing crisis.
Newsy, Peeling Back Media Bias, Manufactured Housing Sales, Investing, Politics, and You
Headlines from left-of-center CNN Business.
- Peloton shares plunge
- One investor called out the company’s ‘grandiose talk,’ and says the stock is worth only $5
- Why you won’t fly on a 737 Max again for quite some time
- Markets barely budge after trade news
- Here’s why the Fed may not be done cutting rates
- Verizon Media plans to lay off 150 people this week
- Luggage startup Away’s CEO is stepping down
- Ted Baker CEO resigns as profits slump
- CVS fined for not following California’s recycling laws
- What to do if you’re asked to sign a non-compete agreement
- Suspected Russian hand in UK election serves as warning to US for 2020
- Jeremy Corbyn will nationalize UK utilities in 100 days. ‘Simply huge’ changes loom if Labour wins the election
- The dirtiest UK election ever? Here are some of the lowest moments of the campaign
- Startup raises $28 million to tackle retirement industry
- Apple’s new Mac Pro could cost you more than $52,000
- Why Netflix may need to cut prices and run ads
- Opinion: Don’t hold your breath for 5G
- HOLIDAY TROUBLES – Christmas sweater with Santa and cocaine forces Walmart to apologize
- Peloton says you ‘misinterpreted’ its much-maligned holiday ad
- The Santa Claus business is booming, even as malls struggle
- Could this be the last holiday shopping season for Sears?
- Retailers are scrambling to find holiday help
- ANOTHER STARTUP STRUGGLES
- SoftBank invested $300 million in Wag. Now it’s giving up on the startup
- 5 other SoftBank investments to watch closely
- In 2018, Wag looked like tech’s next Big Thing
- Wag shuffles its CEO
- SoftBank’s Masa Son has been humbled but he’s not beaten yet
Headlines from right-of-center Fox Business.
- US investors may want to avoid world’s most valuable listed company: professor
- As oil giant Saudi Aramco goes public, should you invest?
- Saudi Aramco’s IPO a make-or-break moment for controversial prince
- Chevron slashes value of holdings by $10B in historic write-down
- Democrats launch new bid to overturn SALT cap, raise top tax rate
- Certain major US cities are unprepared for economic recession, Moody’s finds
- Andy Puzder: USMCA’s three biggest winners (you’re in for a surprise)
- Jersey City shootout leaves 6 dead, including police officer; others hurt
- How the Patriots’ latest videotaping scandal is likely to end
- WATCH: Megan Rapinoe slams Sports Illustrated while accepting its award
- Women sue after being denied access to strip club in constitutional battle
- Hunter Biden could be forced to disclose Burisma earnings
- Newspaper lashes out at Clint Eastwood, demands disclaimer in movie
- US and Chinese negotiators hint at trade deal breakthrough
- The world’s best airlines of 2019
- Trump pays court-ordered $2 million over alleged misuse of Trump Foundation
- Pilots, flight attendants say airline forces them to make ‘impossible choices’
- Netflix takes unusual step for ‘The Irishman’ as Oscar campaigning heats up
- BAD REVIEW: Wall Street pessimistic about future of Netflix
- Jets star won’t be disciplined for ‘sick day’ bowling trip
- WATCH: Husband in controversial Peloton ad confronts ‘sexism’ charges
- Nearly 175 Saudi military aviation students grounded in US after base shooting
- Stocks give up gains despite USMCA trade deal confirmation
- Chamber of Commerce CEO praises USMCA, predicts impact on US will be huge
- ‘Flasher’ costume sees school director demoted, pay cut
- Early morning ‘workout’? How a reporter caught her boyfriend cheating via Fitbit
- LUCK OF ‘THE IRISHMAN’: Netflix releases viewership data for mob flick amid Oscars push
- Pelosi: Historic USMCA deal is much better than NAFTA
- SEC won’t cap awards to whistleblowers
- SpaceX to update Starlink satellites over astronomer ire
- Nike Vaporfly: IAAF report on competitive fairness not expected until 2020
- How gold could be way to avoid a wealth tax, hedge against global recession
- Company to pay city $4 million for street light ’embarrassment’
- ‘Wheel of Fortune’s Vanna White steps up to hosting, ignites social media
- US deficit soars to $342 billion in two months
- Fannie Mae, Freddie Mac preparing for possible economic downturn
- CBD craze hits Dollar General as a customer favorite
- Fed enters chaotic election year at odds with Trump
- How to maximize your credit card’s value
- Apple, Facebook defend encryption under grilling from senators, law enforcement
- Nike’s building named after scandalized coach sparks employee protest firestorm
- Build-A-Bear transitioning into a place for family fun, company CEO says
10 Market Indicator Closing Summaries – Yahoo Finance Closing Tickers on MHProNews…
Featured Focus – Where Business, Politics, and Investing Meet
For those who may not be as into post-production focused trade associations, there are three words that summarize what a trade group is supposed to do. Protect. Educate. Promote. That’s “P.E.P.” for short.
First, let’s look at the media release via Yahoo, AccessWire and other sources to MHProNews. Then following their release, we’ll unpack some relevant points about this effort.
Add ‘New Manufactured Home’ to Your Holiday Shopping List
OKEMOS, MI. The holidays are fast approaching, and it’s the perfect time for … house hunting? “While you may hesitate to put a big-ticket item like a new home on your holiday shopping list, it may make sense for you,” says Michigan Manufactured Housing Association (MMHA) Director Darren Ing. There are some surprisingly smart reasons to let everyone else hit the mall, while you make the purchase of a lifetime: a new manufactured home to ring in the New Year. MMHA’s members offer these reasons and tips.
Reason #1: Holiday cheer is all around, homes and yards are decorated, and while you may not have as much daylight to explore the community, hopefully you’ll get to see more neighbors out and about enjoying time off with family and friends. Kitty Cole of Sherwood Forest suggests, “Try to make time to visit the communities you’re considering on a weekday morning and afternoon, or check out a special event to meet a few community residents.”
Reason #2: Get a true picture. Sure, any home can look great a warm and sunny spring day, but what about an overcast day in late fall? Jerry Ruggirello of AJR Home Sales says, “Shop now to truly see how much natural light you’ll have during this part of the year. It’s also a great time to check the interior of the home for cold drafts or air leaks. While today’s manufactured homes are well insulated with quality windows and doors, a cold blustery day is a great time to check for any minor air leaks.”
Reason #3: Take it slow. House hunting and moving during the holidays can actually help take the edge off of the usual hustle and bustle. If you’re already taking time off from work for the holidays, you can easily schedule in the time you need to make purchasing decisions, get financial info together, and pack at your own pace.
Reason #4: Quick move-in. Angelic Sponaugle of Michigan Home Zone advises, “There may be end of year incentives that would provide additional cost savings to prospective buyers. The salesperson may even be able to get you into your new home in time to host a New Year’s Eve party.” Most communities have model homes on display and already sited in your chosen community, so immediate occupancy is likely an option.
Reason #5: Avoid the spring rush. Let’s face it, there are good reasons so many people decide to buy a new home in the spring, but that shouldn’t stop you from shopping in the winter. According to Josh Schnakenberg of Sun Communities, “There be fewer people out and about looking at homes, but because new manufactured homes are typically at a consistent inventory level in communities, you’ll still have a great selection.”
MHProNews Analysis of Michigan Home Promo…
In no particular order of importance.
- Some effort is better than no effort.
- There are a significant proportion of the new HUD Code manufactured homes being shipped into Michigan that are bound for land-lease communities. A clear majority of those are for rental purposes.
- Michigan is one of the 8 of the top 10 states that is currently down year-over-year in new manufactured housing shipments.
- Zillow’s independent research has demonstrated that interest in manufactured homes declined during the 2 year period reported below.
- A good association’s mantra is supposed to be ‘protect, educate, promote.’
- Whatever reason one may wish to give, even though Michigan has been doing ‘promotions’ of various types for years, the industry is in retreat as measured by new home sales. Why?
While this is the P of promotion, where is the protection and education (PE)?
Why, for example, when there are good laws on the books, is Michigan not promoting enhanced preemption in a robust fashion, even if MHI doesn’t?
There are publicly traded firms based in Michigan or that are members of the Michigan state association. They are routinely Manufactured Housing Institute (MHI) members. ICYMI, see the ‘carrots and sticks report’ linked below.
Pendleton, Harper, Bowersox – Manufactured Housing Associations Carrots & Sticks Report – plus Sunday Weekly Industry Headlines Review 11.24 to 12.1.2019
On paper, MHI claims they support and want federal enhanced preemption enforced. So why are those messages found most commonly in emails to their own members, instead of readily found in public statements or easily found pronouncements?
- Follow the facts and evidence, ignore mere whim or emotion.
- Pay more attention to what people do than what they say.
- Follow the money.
Consolidation is occurring, which may make some happy. But the future of an industry is in independents and entrepreneurs – start ups or growing operations.
Be it incompetence, a scheme to consolidate the market into ever fewer hands, or whatever blank one may want to insert, that results are what they are, right? In an affordable housing crisis, the industry is down year-over-year.
There are insider insights on this specific trade group that we may reveal in an upcoming report. Stay tuned.
It’s a great industry that is much needed. But there are self-evident problems that MHProNews, MHLivingNews and a few others will continue to hammer away at until the powers that be in MHVille that want consolidation over-growth take their foot off the brakes.
Good laws exist. They are largely thwarted, underenforced or are diverted. Savvy investors should be among those that demand answers. It’s your money, and the lesson of Cavco Industries in 2018 should loom large, shouldn’t it?
Last but not least, MHVillage/MHInsider are based in Michigan. Their impact on the bigger picture is explored in the report below.
See the related reports for more.
SEC, Cavco Industries, Duty to Serve Lending, Investing and Claimed Manufactured Housing Institute Corrupt Practices – Facts & Analysis
More Mixed News on October 2019 Manufactured Housing Production, Shipment Data
Need for Workforce Housing Keeps Vacancy Tight and Rent Rising; Investors Eyeing Communities for Yield and Cash-Flow Potential, Says Marcus & Millichap Research, Analysis
HUD’s Brian Montgomery – William ‘Bill’ Matchneer Exposé – If the Shoe Fits, Affordable Housing, Manufactured Homes – Impacting American Dreams?
What Warren Buffett, Kevin Clayton, Tim Williams, Berkshire Brands and Manufactured Housing Institute Leaders Fear
Study in Contrasts-Lesli Gooch v Mark Weiss, Manufactured Housing Duty to Serve Presentations Spotlight Lack of Proper Lending
Manufactured Housing Industry Investments Connected Closing Equities Tickers
Some of these firms invest in manufactured housing, or are otherwise connected, but may do other forms of investing or business activities too.
- NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services, a manufactured home industry lender
- NOTE: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).
Berkshire Hathaway is the parent company to Clayton Homes, 21st Mortgage, Vanderbilt Mortgage and other factory built housing industry suppliers.
· LCI Industries, Patrick, UFPI, and LP each are suppliers to the manufactured housing industry, among others.
· AMG, CG, and TAVFX have investments in manufactured housing related businesses. For insights from third-parties and clients about our publisher, click here.
Enjoy these ‘blast from the past’ comments.
MHProNews. MHProNews – previously a.k.a. MHMSM.com – has now celebrated our tenth anniversary.
Learn more about our evolutionary journey as the industry’s leading trade media, at the report linked below.
Celebrating 10 Years of Goal- and Solution-Oriented Manufactured Home Industry Innovation Information, and Inspiration for Industry Professionals
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Disclosure. MHProNews holds no positions in the stocks in this report.
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Submitted by Soheyla Kovach, co-managing member of LifeStyle Factory Homes, LLC and co-founder for MHProNews.com, and MHLivingNews.com.
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