MHMSM.com presents Factory Built Housing Industry News at Noon with Erin Patla.
We begin with these stories:
A NEW SURVEY released Monday by the National Association of Business Economics finds the economy will grow this year and next at a slower pace than previously thought, weakened by governments and consumers spending less so they can pay down debt. The forecast for annual economic growth was reduced to 2.6 percent in 2010 and 2011 as reported by the Associated Press. That’s down from its forecast of 3.2 percent in May. Home prices are not expected to rise much in the period.
In Election News…
INDIANA REPRESENTATIVE JOE DONNELLY is the top recipient of contributions from the Manufactured Housing Institute Political Action Committee. According to Opensecrets.org, Donnelly received a $6,000 contribution during the 2010 election cycle. As of June 30, 2010, receipts totaled $89,984 with $97,157 cash on hand. Total spent amounts to $102,702. Sixty-five percent of contributions were made to Democrats and 32 percent went to Republicans, with specific Republicans receiving some of the largest contributions. Donnelly and several key members of the Manufactured Housing Congressional Congress are facing tight races. The biggest recipients include Blanche Lincoln (D-AR) with $4,000; Barney Frank (D-MA) with $3,000 and Bill Posey (R-FL) also with $3,000. In the Senate races, top recipients include Blanche Lincoln (D-AR) with $4,000 and Richard Shelby (R-AL) with $3,500.
FOX 28 IN SOUTH BEND, Indiana reports that a grim outlook for employment has Democrats on edge. A report detailing the current state of U.S. jobs shows 95,000 jobs were lost in September, putting the unemployment rate at 9.6 percent, a level that has not changed in 14 months. “I think they are scared,” Political Science professor Patrick Pierce of Saint Mary’s College said of incumbent Democrats in the report. One such Democrat is Joe Donnelly who is in a fight to save his District 2 seat from Republican opponent Jackie Walorski. Pierce says part of the question is just how powerful a force unemployment is going to be in driving down the Democrats’ vote totals.
Factory Built Housing in the News
FROM TANZANIA, The Citizen reports that although common in the developed world, factory built homes are still a rarity in East African countries, including Tanzania. That may soon change as a result of efforts by Jack Xu, the sales manager of Yafei Construction Company, a Chinese firm operating in Tanzania. Yafei began operations there in 2009 with the aim of assembling prefabs in Dodoma to beautify the county’s capital city, and building many low cost houses within a short period. According to the report, recent estimates indicate that in the United States more than 250,000 housing units of this type are sold annually. Before building a prefab house, its map and design is drawn and sent to China. Then the building materials are fabricated in China and assembled in Tanzania.
USA TODAY recently ran a feature on how modular homes can bring building a green home into financial reach. Showcased was a custom home in Saint Paul that arrived in several modules via truck and was quickly pieced together and finished on site. Designed by Hive Modular, a Minneapolis-based prefab company, and built by a factory partner, a three-bedroom, 1,778-square-foot house costs $105 a month to heat in winter’s coldest subzero temperatures and costs a little more than $200 a square foot to build. The article states the company is doing most of its work in Canada, where financing is more readily available.
FROM THE IOWA CITY PRESS-CITIZEN we learn that Regency of Iowa has been fined $7,500 by the Iowa Department of Natural Resources for air quality violations that officials from the DNR say occurred at their pre-HUD code mobile home parks in Iowa City and Huxley last year. The department alleged that six dilapidated homes in Iowa City and five in Huxley were demolished or in the process of being demolished without proper notification of the DNR. The homes also had not undergone the appropriate testing for asbestos. The DNR is able to issue fines of up to $10,000 for violating state regulations.
“Up next, Manufactured Housing in the News”
But first, this podcast of News at Noon is sponsored in part by:
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Tap into Excellence – visit on the Web at CommunityDASHinvestor.com or call 317-346-7156.
Now, back to our stories.
Manufactured Housing in the News
ELEVEN YEARS after the murder of two manufactured home salesmen, Corey Chernin and Kent Williams, South Carolina police are still looking for leads. Corey Chernin was found shot to death about 8 p.m. Dec. 5, 1999, in the kitchen area of a manufactured home on the Clayton Homes lot, then located behind the dealership’s business office on U.S. 301 North in Florence. Three weeks earlier, Kent Williams was found shot to death at a Clayton Homes dealership on U.S. 501 in the Conway area of Horry County. The victims were found in the same location inside the homes, located on the same spot on the two different lots. There was no sign of forced entry in either case. Forensics tests indicate the same weapon was used in both shootings. Anyone with information on either of these crimes is asked to call the Florence County Sheriff’s Office at (843) 665-2121 or Crime Stoppers of South Carolina at (866) 88-CRIME. Callers need not reveal their identities.
THE MIDWEST MANUFACTURED HOUSING FEDERATION sent out some news regarding the status of the Louisville Show and wants to encourage support for the event. The same business conditions that have impacted the industry have taken their toll on the Louisville Manufactured Housing Show. Reduced in size in 2009 and cancelled for 2010, a successful show in January, 2011 needs full support from the industry. Please call Dennis Hill at 770-587-3350 and make a commitment to display at the show. Seven manufacturers, 20 floors and 45 booths are already committed. Just six floors are needed to finalize contracts to make the 2011 show a reality.
In Market News…
STOCKS WERE MIXED Monday during the Columbus Day holiday. Investors are also looking ahead to quarterly financial statements from several major U.S. companies later this week. Manufactured housing composite values were down 1.2 percent. Big movers included All American Group, up 22.2 percent to 22 cents a share. Palm Harbor Homes was down 3.85 to $1.50 a share.
“On behalf of Production and IT Manager Bob Stovall, Editor L.A. ‘Tony’ Kovach, Associate Editor Catherine Frenzel, INdustry in Focus reporter Eric Miller, and the entire MHMSM.com writing and support team, this is Erin Patla. G’day!”