On Friday, 2.7.2020, Modular Home Builders Association (MHBA) Executive Director Tom Hardiman took public aim at the Manufactured Housing Institute (MHI) for its already controversial CrossModTM homes project. Tonight’s featured focus will take a fresh look at that topic, with added insights that have come in from informed sources.
Periodic readers of this business-nightly feature should note there are new 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.
Headlines from left-of-center CNN Business
- Elon’s big payday – Tesla CEO Elon Musk speaks during the unveiling of the new Tesla Model Y in Hawthorne, California on March 14, 2019.
- The Tesla CEO will soon get a massive payout if the automaker’s stock stays strong
- For the first time, US households now hold more than $14 trillion of debt
- Investing like Warren Buffett might not be a good idea right now
- Carnival warns of ‘material’ coronavirus impact on earnings
- com is hiring 20,000 people who can’t work because of the coronavirus
- Bernie Sanders would ‘ruin our economy,’ former Goldman Sachs CEO says
- Jamie Dimon: The key to making the economy work for everyone
- Facebook suspends dating service rollout in Europe after Irish officials search Dublin HQ
- Disney just raised one of its key ticket prices to more than $200
- Mobile World Congress canceled because of coronavirus outbreak
- This movie flopped. Now it’s getting a new name
- This pricey drink was sold by text message. Now it’s hitting Walmart shelves
- A worker collecting white button mushrooms at Buona Foods factory in Chester County, Pennsylvania.
- Move over, kale: Mushrooms are the new grocery aisle celebrities
- We tried out the Galaxy Z Flip phone. Samsung could be onto something
- WhatsApp hits 2 billion users
- Plastic surgery inspired by filters and photo editing apps isn’t going away
- Elon Musk: Delete Facebook. It’s lame
- Zuckerberg: Facebook’s goal is no longer to be ‘liked’
- TikTok accidentally verified a fake Kendall Jenner account
- UP IN THE AIR
- Boeing’s got bigger problems than the 737 Max
- Boeing posts first annual loss in 22 years
- 5 things you didn’t know about the 747
- Delta will ditch the uniforms many employees call ‘toxic’
- Air Italy stops flying and goes into liquidation
Headlines from right-of-center Fox Business
- Coronavirus treatment may come from an unexpected place
- Ampligen’s previous effectiveness with the deadly SARS means it may help with the fatal coronavirus.
- FINANCIAL CONTAGION: IMF chief on how virus outbreak will impact world economy
- Coronavirus has many US firms waiting for products to ship
- All 3 major indexes break records as markets rejoice Sanders’ narrow New Hampshire win
- US farmers’ optimism on the rise, most expect Trump to win 2020 election: Survey
- Illinois drivers may be banned from pumping their own gas
- US investigating Harvard, Yale over alleged China, Saudi Arabia secret funding
- Democrats are pushing for a wealth tax – that should really worry you
- Fans react to Disneyland ticket price increase: ‘I will not be going there’
- CA colleges to help students pay — if they’re willing to put in hard work
- Playboy prince’s intimate throne hits the market just in time for Valentine’s Day
- Boeing fires worker mocked in embarrassing 737 Max messages
- NASA astronaut Christina Koch dishes on record spaceflight
- Dumpster diving death highlights ‘freegan’ movement and its risks
- 2020 Democrats to shower a staggering dollar amount on this industry
- Bernie Madoff’s future: Where does Ponzi king go from here?
- Divorce rates are highest, lowest in these states: Report
- These are the most dependable vehicles of 2020, says J.D. Power
- Trump pulls Jessie Liu’s Treasury Department nomination: Report
- Where Harry and Meghan could end up living after fleeing the palace
- Cellphones don’t cause cancer, FDA says
- Kohl’s eliminates 250 positions
- Spring break’s cocktail of booze and debauchery too much even for this city
- Binghamton University to build $60M baseball complex with record anonymous donation
- Antonio Brown apologizes to Ben Roethlisberger: ‘Never realized how good I had it’
- How do you qualify for a student loan?
- Judge drops some charges against Theranos founder Elizabeth Holmes
- Trump signs order to test U.S. infrastructure’s vulnerability to GPS outage
- How coronavirus is hurting the golf industry
- Feds may make fisherman do more to protect Maine whales
- MGM Resorts CEO Jim Murren to step down
- Bank ordered to pay $2.4M to wealth manager molested by customer
- Elizabeth Warren jabs Sanders over ad spending, primary results
- Sweetgreen turns to the sea and David Chang for new menu offering
- Valentine’s Day revenge is on the menu at these U.S. zoos
- How thieves posing as rap titans stole thousands from some of the ritziest hotels
- Buying these foods ‘organic’ is a complete waste
- Carnival warns coronavirus outbreak could put big dent in business
- More than 25% of the world uses this app to keep in touch
- ‘MAGA stocks’ drive market higher as Trump fights for White House
- These stocks popping after Sanders barely wins New Hampshire
- NASCAR president says racing company ‘absolutely not’ for sale
- As Klobuchar surges in New Hampshire, a look at her economic policies
- Tulsi Gabbard defends Hillary Clinton suit: ‘Not just another political thing’
- Varney on New Hampshire primary: Trump benefits from Democrats’ growing divide
- How much money does Popeyes make?
- Trump, Cuomo to meet on New York Global Entry ban following memo leak
- Bloomberg or Sanders? Trump reveals who he’d rather run against
- Who’s behind Federal Reserve’s interest rate decisions?
- Wells Fargo ends mandatory arbitration for workers’ sexual harassment claims
- Miami’s Armani Casa luxury condos welcome millionaires fleeing high-tax states
- This Hockney painting just sold for eye-popping sum at Sotheby’s auction
- Are Prince Harry and Goldman Sachs getting cozy?
10 Market Indicator Closing Summaries – Yahoo Finance Closing Tickers on MHProNews…
Featured Focus – Where Business, Politics and Investing Can Meet
Per informed sources, the Modular Home Builders Association (MHBA) has not been contacted by anyone at the Manufactured Housing Institute (MHI) regarding the brewing controversy about MHI’s ‘new class of homes.’
Additionally, none of MHI’s key corporate members have responded to the controversy that arose when MHBA Executive Director Tom Hardiman launched a public broadside about what he termed a “deceptive” marketing tactic.
To see Hardiman’s full commentary, see the prior report linked below.
MHI and their ‘big boy’ members have in recent years taken a similar tact on several issues when asked about something problematic. Namely, they strive to ignore a given concern. Note that there are several terms floating around, including: ChoiceHome, MH Advantage, CrossModTM and the ‘new class of homes.’ From a marketing perspective, that confusion alone is problematic.
From a strictly dollars and measurable results perspective, CrossModTM has reportedly been a market failure. A lender involved in the program has said that appraisers are routinely not up to speed, which has reportedly caused ‘lost deals.’
Despite seemingly coordinated posturing by MHI, Clayton Homes, Skyline-Champion and Cavco Industries and their surrogates, at the St. Louis Federal Housing Finance Agency (FHFA) meeting in November, data was revealed that only 10 such loans were closed to that point in 2019 and 2018 between both GSEs.
Furthermore, based on the lack of traction, the GSEs were granted by the FHFA a lowering of the targets.
Such details are known by MHI, and presumably by the leadership of these publicly traded firms who have MHI and their own data to consider.
David Dworkin, National Housing Conference, Compared and Contrasted with Lesli Gooch, Manufactured Housing Institute on Fannie Mae, Freddie Mac Proposed Modifications to FHFA on Duty to Serve Finance Plans
Despite MHI’s claim that their surveys reveal market acceptance, the shipment data proves otherwise.
See the related reports below.
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).
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