The latest research by Manufactured Housing Institute (MHI) member and publicly traded Marcus & Millichap Inc. (MMI) is shown further below. MMI curiously opened their introductory paragraph with the words: “Manufactured home shipments to communities on the rise.” That seems to contradict what some manufactured home producers have told analysts, investors, and even Congress in 2023. Be that as it may, MMI’s brief post on their website that introduced their research then said the following. “In the first seven months of 2023, roughly 50,000 new manufactured homes were shipped. While this count was down year-over-year, strict zoning laws and other land-use preferences mean that fewer new manufactured home communities are being established, leaving these home buyers with limited rentable lot options outside of existing communities.” Then comes the apparent blindside of MHI, which has apparently limited research like Quick Facts and Industry Overview to members only that were previously made available to the public on their updated website.
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Under the MMI headline: “Manufactured Home Communities National Report 2H 2023” and the subheading: “National Housing Shortage Necessitates Non-Traditional Residential Options; Leased Community Lots Gain Popularity,” the balance of that opening paragraph quoted above continued as follows.
In 2022, roughly 59 percent of all new manufactured homes were placed in a community or subdivision, a figure that increased by 80 basis points year-over-year. Around 36 percent of these new homes were put in a manufactured home community, where lots are leased, demonstrating a growing demand for rentable lot space. Nearly 112,900 manufactured homes were shipped in 2022, translating to over 40,600 homes placed on leased land. The increasing competition will keep the national lot vacancy rate low.”
A Big Case Decided…
We are timing this report on MHProNews in the wake of what may be seen someday by historians as a pivot or turning point in modern history. While it may not seem at first to be directly related to manufactured housing or the affordable housing crisis, we have periodically made the case for years on how important antitrust and anti-monopoly issues are for America, for the affordable housing crisis, and for our specific industry. A recent judgment has been entered. Google has lost its case to aptly named Epic in its battle over the Android App store. Instead of a state or federal case, it is a private business that brought the first case to trial that has now concluded with the jury voting Google guilty on all counts. Google will appeal. That case is far from over. But on issues like tying, the jury brought a verdict in just a matter of hours after the case was handed to them.
For about 6 years, once ‘the light’ began to dawn on the leadership of MHProNews/MHLivingNews, we have increasingly brought evidence of apparent antitrust and market-manipulation violations involving manufactured housing to our readers. In the last roughly three years, we have brought reports on some of the largest offenders to our audiences, in reports like “The Case Against Clayton Homes – Years of Legal-Regulatory Claims.” That report and others were often wildly popular months or years after they were first published. Why?
Perhaps in part because virtually no one else in manufactured housing would publicly address the issues.
As apparently loyal MHI member Andy Gedo observed, “Tony: I agree with your [MHProNews/MHLivingNews] thesis that the MH [i.e. manufactured housing] industry needs devils advocates or contrarians. Any highly concentrated industry needs this. And you may have a point that since our industry lacks contrarians, it may be worthwhile to look to other industries for example[s]…”
With the recent jury ruling against Google in mind, consider the following.
In several respects, MMI obviously said the ‘quiet part’ – the forked tongue or potentially fraudulent aspects of MHI’s so called “advocacy” on behalf of “all segments” of manufactured housing industry professionals – out loud.
MHI’s updated website says on the home page on 12.11.2023 that: “The Manufactured Housing Institute is the only national trade organization representing all segments of the factory-built housing industry.” It also, apparently falsely claims that they are “your trusted partner, advocate and industry leader.” But if that is only true, as MHI award-winner Marty Lavin, J.D., claimed, for the ‘big boys’ at MHI and not the rank and file members and not employees or the broader public, then then that’s a problem. That’s the apparent meaning Lavin said when he shared the following to MHProNews. With no disrespect intended, Lavin is no longer a spring chicken. He was around during the industry first heydays, in the early 1970s, as well as during the more recent peak in the mid-to-late 1990s, before the problematic lending that presaged the broader U.S. mortgage-housing ‘financial crisis’ by years.
MHProNews has brought such news, evidence, and analysis that others who are generally in the MHI orbit will not touch, or if they did, it was often to deflect on behalf of those who have arguably manipulated the market in favor of what Lavin called the ‘big boys’ for years.
When, financing, retail and manufactured home production in the U.S. were upended, that inevitably impacted the land-lease community sector too. Former giants or once long secure smaller to mid-sized players vanished during the wave of failures and consolidations that followed the loss of lending. There are several possible signs that a similar ploy(s) have been underway. That these were not just disconnected events but were rather a part of a pattern. And MHI has been credibly accused in years of detailed reports like the one here and in other public forums with public officials listening and reading. MHI senior staff, their corporate leaders, and attorneys have once more declined last week to comment on that or other prior reports.
And now, major national antitrust litigation has been launched. Who else in MHVille has dared to bring such reports to their audiences? Is that why their audiences are smaller – perhaps dramatically so – than ours are?
With those notions in mind, let’s return to what MHI claims and what MMI had to say in their 2H 2023 research report.
Expanding Attainable Homeownership?
MHI claims without providing linked evidence an apparent slogan that they are: “Elevating Housing Innovation; Expanding Attainable Homeownership.” As MMI once again pointed out in their brief tee up to their 2H of 2023 research, which let’s note once more will be shown below, they have de facto debunked that slogan. Here is how, by saying: “In the first seven months of 2023, roughly 50,000 new manufactured homes were shipped. While this count was down year-over-year, strict zoning laws and other land-use preferences mean that fewer new manufactured home communities are being established, leaving these home buyers with limited rentable lot options outside of existing communities.”
Thus, MMI is arguably yet another MHI member which has apparently undermined MHI’s claims, as have high profile firms such as Cavco Industries.
MHProNews notes that Lavin’s contention, quoted above, is apparently supported by the quoted remarks that follow from high-profile community sector member of MHI, Marguritte Nader.
Nader is the president and CEO at Equity LifeStyle Properties (ELS), who said during an earnings call with investors: “…we are also working with our national association [i.e.: the Manufactured Housing Institute or MHI] to make sure our industry is represented.” Nader also said that despite rent control: “we are able to generate some — some very healthy growth rates even operating in an [rent control] environment.” (Emphasis added by MHProNews).
Given yet another opportunity last week for MHI leaders and attorneys to respond to any or all of our research, analysis, or reports they remain…silent. That’s their constitutionally protected right. But it also leaves our reports and analysis largely unchallenged. They keep pushing their narratives, while we keep reporting and providing facts, evidence, and the manufactured home industry expert analysis that others can’t and/or won’t give, perhaps because they have for too long been beholden to the very people that our articles expose?
In Part I below, are the balance of MMI’s research, with periodic observations and remarks by MHProNews woven in. Bracketed words are by MHProNews. Otherwise, the remarks are by MMI.
In Part II, is additional information with more MHProNews analysis and commentary.
Part III is our Daily Business News on MHProNews market/equities updates.
Part I – Per MHI member MMI
Manufactured home shipments to communities [are] on the rise. In the first seven months of 2023, roughly 50,000 new manufactured homes were shipped. While this count was down year-over-year, strict zoning laws and other land-use preferences mean that fewer new manufactured home communities are being established, leaving these home buyers with limited rentable lot options outside of existing communities. In 2022, roughly 59 percent of all new manufactured homes were placed in a community or subdivision, a figure that increased by 80 basis points year-over-year. Around 36 percent of these new homes were put in a manufactured home community, where lots are leased, demonstrating a growing demand for rentable lot space. Nearly 112,900 manufactured homes were shipped in 2022, translating to over 40,600 homes placed on leased land. The increasing competition will keep the national lot vacancy rate low.”
[MHProNews Note: In May 2021 MHI’s “Industry Overview” is this statement: “69% of new manufactured homes are placed on private property and 31% are placed in manufactured home communities.” By August 2022, MHI said: “49% of new manufactured homes are placed on private property and 51% are placed in manufactured home communities.” Yet, MHI member MMI said that in 2022 59 percent of manufactured homes went into a community or development and that about 36 percent went into a land-lease. Those are clearly contradictory data claims. Then note that at about the time that national class action litigation was launched against several MHI members, MHI changed their website and removed documents like “Quick Facts” and Industry Overview to members only status that were previously available to the public. That removal of information by MHI of content previously available to non-members may not be a coincidence. The possible significance will be examined in Part II, below.]
Population growth drives up single-family home costs. Metros with rapidly growing populations have noted compressing lot vacancy rates in manufactured home communities. The South and Mountain West regions are home to the five metros expected to grow the fastest in 2023. Dallas-Fort Worth, Houston, Phoenix, Atlanta and Austin each expect over 50,000 new residents this year. In the first half of 2023, all five markets noted lot vacancy below their trailing 10-year mean, and four were at least 200 basis points below that mark. This coincided with the median home price in each metro nearly doubling over the last decade. While manufactured homes have had similar upward pricing momentum, the absolute cost, at an average of just $127,000 in 2022, is still well-below that of the typical stick-built home.”
Number of Homes Shipped to Communities Rises
Manufactured Homes Shipped Percent Placed on Leased Land
Housing shortage spotlights manufactured home options. Freddie Mac estimates that the U.S. faces a housing shortage of roughly 3.8 million housing units, causing a re-evaluation of housing options beyond single- and multifamily homes.
[MHProNews Note: While MMI is correct that Freddie Mac used that 3.8 million estimate, that claim may have been wrong even at the time the estimate was made, as MHProNews then reported. Cavco Industries (CVCO), earlier this year, put the figure of home many housing units that shortage is at a 6 million unit. But that too may be low. Congressional research said that the shortfall may be as much as 20 million housing units.]
Manufactured homes have stood out for their lower production costs and quick assembly and, in 2022, they made up 10 percent of all housing starts. In June 2023, a new federal division, Office of Manufactured Housing Programs, was created to address inventory issues, recognizing the important role manufactured housing plays in the housing market. ”
[That remark about a new federal division is an apparent misstatement. the Office of Manufactured Housing Programs (OMHP) was established as part of the Manufactured Housing Improvement Act (MHIA) of 2000. This question was put to Bing AI on 12.11.2023: “Was the office of manufactured housing programs established as part of the Manufactured Housing Improvement act of 2000?” Bing AI replied: “Yes, that is correct. The Office of Manufactured Housing Programs (OMHP) was established as part of the Manufactured Housing Improvement Act of 2000 1. The OMHP administers the National Manufactured Housing Construction and Safety Standards Act of 1974, which authorizes the Department of Housing and Urban Development (HUD) to establish federal standards for the design and construction of manufactured homes to assure quality, durability, safety, and affordability 1. The OMHP enforces standards directly or through state agencies that have partnered with HUD, inspects factories and retailer lots, regulates installation standards for the homes, administers a dispute resolution program for defects, establishes and collects a fee for each home built, authorizes a certification label to be placed on each section of a home that meets the HUD standards, and pursues a civil or criminal action for violations of the Act 1.” Perhaps what MMI research-writers had in mind is the shift of the OMHP into a different part of the HUD regulatory structure. Either way, the statement by MMI was an apparent factual error. It is also a subtheme of MHI, part of the head-fake they apparently attempt to display as if they have done something, when upon closer examination, they have accomplished little or nothing.]
Updating housing regulations is a step in the direction of reducing current policy complications that come with zoning and production. This comes on top of Freddie Mac’s risk management assessment to potentially enter the personal property market and purchase those loan types. If this occurs, it would add liquidity to the personal property loan market, which includes the majority of manufactured homes.”
[MHProNews Note: while that is true that if Freddie (and or Fannie Mae) returned to chattel lending in a meaningful way it could add liquidity to the market, it also fails to mention that this lack of liquidity issue has been kicked around for much of the 21st century. Meaning, there is no known evidence that such a change is going to occur anytime soon. Indeed, earlier this year, MHI ‘gave a pass’ per MHARR on a key motivation for Fannie Mae and Freddie Mac to do chattel or home only lending. MMI is thus arguably mistaken to suggest it may change.]
Age-restricted communities [are] well-located for strong demand. As the baby boomer generation ages, demand for space in age-restricted communities has risen. Persistently high inflation over the last two years has eaten away at retirement savings faster than expected. In some cases, this has led to retirees rejoining the workforce or seeking out more affordable housing options. Age-restricted communities account for roughly one-third of the total U.S. inventory of community lots. The Southeast, Mountain and Pacific subregions are home to nearly all of these communities and account for 20 percent of the aged 55-plus cohort. Readily available affordable housing options could further inflate this segment of the population regionally.”
Manufactured home affordability keeps lot vacancy low. The national lot vacancy rate held below 6 percent through the end of 2022. Entering the second half of 2023, the majority of metros outside of the Midwest are on track to maintain this trend. In addition to manufactured homes being costly to move, it is estimated that only 43 communities have been constructed since 2010 due to zoning or other land-use preferences, shielding existing localities from major lot vacancy swings. The mean monthly mortgage payment on a single-family home has also crested 7 percent, due to the Federal Reserve’s series of interest rate hikes, and the heightened cost of homeownership further underpins demand for more affordable options.”
[MHProNews Notes. While some of that is relatively accurate, mortgage rates are over 7 percent. Manufactured home vacancy rates are not increasing as rapidly as some might think should occur due to relative affordability. That ought to beg the question, why isn’t growth in the manufactured housing sector more robust? Indeed, stock analyst Greg Palm asked such a question earlier this year. Perhaps the kinds of predatory behaviors and MHI’s National Community Council’s (MHI NCC) failure to enforce their so-called Code of Ethical Conduct is keeping manufactured home communities from filling faster? The case could be made that the vast majority of land-lease manufactured home communities (often errantly a.k.a. ‘mobile home parks,’ ‘trailer parks,’ etc.) may already be full if not for predatory behavior. Factors behind regional and national class action lawsuits are another reason why those land-lease communities may not already be at or near capacity. Ironically, the fact that some areas have ‘over 6 percent’ vacancies’ – see next segment from MMI – may be due to some extent to the steady drum beat of bad news.]
- Due to tight vacancy rates in the Pacific, the subregion has consistently retained the highest average lot rent in the country. At $1,116 per month by the end of 2022, lots in this area were nearly twice the monthly average found in the Mountain West
- Nearly all metros surveyed in the first half of 2023 logged rent increases. Out of all major U.S. markets, six of the top 10 greatest rent increases were located in Florida, highlighting the state’s growing demand for lower-cost housing. The Jersey Shore Area had the only double-digit rent gain outside of the South and West
- Atlanta was the only market in the Southeast that logged a decreasing annual rent in 2023. Florida metros aided the subregion’s metric as rents rose on average across the state
[MHProNews Note: we do not and have not subscribed to ELS owned Datacomp rent information, and thus will not comment on specific claims made by MMI or others based on that data of how much site fees have shifted. Where MMI makes other types of claims seemingly contradicted by other sources, as this analysis reflects, MHProNews is ready, willing, and able to clarify, question, or correct the record as needed. Note too that failure to comment on some item does not automatically imply agreement.]
Rent caps could be on the horizon in some states. Constrained supply additions, paired with rising demand, have facilitated record rent growth in recent years. At the end of 2022, the average lot rent was $646 per month. Several states have, however, taken action to cap rents in manufactured home communities. In June, the Delaware House of Representatives approved a proposal that would prohibit manufactured home community owners from increasing rent by more than 5 percent each year. This would replace a similar plan approved in the state last year that ties manufactured home rents to the consumer price index. Washington, Connecticut, Nevada and others have similar bills under review.”
[MHProNews note: ‘constrained supply’ is the type of language that ELS, Sun, Flagship, and others have used that arguably undermines MHI’s claims that they are in any way serious about pursuing an enforcement of the “enhanced preemption” provision of the Manufactured Housing Improvement Act of 2000 (MHIA). MHProNews was making that evidence-based argument years in advance of the 2023 class action litigation. Note too that in the next section of MMI’s research, “sales” means sales of manufactured home communities, not of HUD Code manufactured homes.]
Deal flow hindered by first half interest rate hikes. In the first two quarters of 2023, the transaction velocity of manufactured home communities slowed relative to the same period in the last four years. The Federal Reserve’s series of interest rate hikes hindered lending markets and encouraged many buyers to take a wait-and-see stance. The end of the year could see renewed deal flow, however, as the Fed begins to take a more data-driven approach when considering additional rate hikes. The Federal Open Market Committee opted to hold the rate steady in September as parts of the economy show signs of softening, keeping the federal funds rate between 5.25 and 5.5 percent. This is still the highest level seen in 22 years.”
[MHProNews Note: MMI’s use of the term “sales” here apparently does not mean the sales of individual HUD Code manufactured homes. That “transaction velocity” slowing is illustrated by major real estate investment trusts (REITs) and other consolidation-focused portfolio operators like Sun Communities, which said similar statements to MMI’s remarks above. Sun Communities stressed they have ‘stopped’ new deals and developing too. That may be good news for manufactured home residents, but it also begs its own set of questions that too many ‘reporting’ on MHVille have downplayed, distracted from, or ignored.]
The information contained in this report was obtained from sources deemed to be reliable. Every effort was made to obtain accurate and complete information; however, no representation, warranty or guarantee,
express or implied may be made as to the accuracy or reliability of the information contained herein. This is not intended to be a forecast of future events and this is not a guaranty regarding a future event. This is not
intended to provide specific investment advice and should not be considered as investment advice.
Sources: Marcus & Millichap Research Services; Bureau of Labor Statistics; Datacomp-JLT; CoStar Group, Inc.; Institute for Building Technology and Safety; Manufactured Housing Institute; U.S. Census Bureau; White House”
[MHProNews Notes: Datacomp was hit by multiple class action lawsuits (see links herein above and below). CoStar is another MHI member that has also faced its own litigation. as is Datacomp/MHVillage/MHInsider, and MMI itself. MHI touted the White House initiatives regarding manufactured housing is an apparent head-fake. Following that White House posturing about initiatives to promote manufactured housing, new HUD Code manufactured home sales declined. Their base document, plus graphics, are found at this link here.]
Part II – Additional Information with More MHProNews Analysis and Commentary
MMI’s research is useful, but not necessarily in the ways that the firm that the MHI member operation may have intended. With this report coming in the wake of national class action litigation, is it a wonder that greater care wasn’t taken to avoid possible contradictions between various MHI linked sources? See the remarks and linked items above and below. To help frame some of the issues, consider the following.
In a Q&A with Bing AI, this writer for MHProNews obtained the following response. “…The article [by Investor’s Business Daily] mentions that the stocks of manufactured homebuilders, including Cavco Industries and Skyline Champion, rallied from mid-June to mid-August 2023, along with other industries banking on a short rate tightening cycle from the Federal Reserve. However, hawkish signals from the Fed sent anything investors considered a rate-sensitive industry into retreat. Caught up in that selling, Cavco, Skyline, LCI and others saw their chart patterns collapse below key levels of technical support. The article also notes that the number of buildings with five or more units under construction is up almost 25% over year-ago levels, according to the National Association of Home Builders…” The same reply mentioned some factually problematic remarks, citing, for example “Allied Market Research” which MHProNews has previously debunked as a source that is apparently untrustworthy or reliable. Bing AI, at this point in time, appears to have a problem discerning problematic information from more reliable sources and data. MHProNews brought some of the problems in its reply to Bing AI’s attention. It provided the following response on 12.12.2023 at about 4:30 AM ET. Note, as is typical with MHProNews, we used Bing’s balanced or ‘blue’ response setting.
It is understandable, to a certain extent, why MMI would be a member of MHI. As a multi-year MHI member told MHProNews, ‘MHI is where the action is.’ Be that as it may, MHI is also where growing body of evidence is emerging that antitrust, RICO, fraud, and other allegations appear to be growing.
While MHProNews and/or MHLivingNews may be essentially alone in calling for accountability by MHI and/or their corporate leaders, that doesn’t mean that we are the sole source for concerns about the industry. Furthermore, our platforms and this writer have provided factually accurate information, data, evidence, and expert analysis that won praise from a wide spectrum of people within and outside of manufactured housing. While it is true that the praise was muted as we began to expose the problems within the industry, site traffic and other indicators have continued to support the notion that this platform is the runaway leader in manufactured housing “Industry News, Tips, and Views Pros Can Use.” ©
The past when this publication’s parent company was an MHI member for some 7 years and served on the MHI Supplier’s Division board was vexing but in hindsight, in some ways, it could prove to be useful. It is difficult for higher profile MHI members to hypothetically say, for example, that we do a sloppy job after they have praised us for doing a good job. That is true for operations near the heart of the antitrust issues that are brewing in the industry. Two of several possible quotable quotes that follow serve to illustrate. The first one comes from a source closely linked to the current antitrust issues.
“Tony, congratulations to you and your team on this significant milestone and much appreciation for the valuable (and often thankless) job that you do. You truly have become the preeminent news source for the manufactured housing industry and I wish you many more years of success.” – Darren Krolewski. Krolewski was then executive vice president (EVP) for Datacomp/MHVillage/JLT. He is now their co-president.
While 21st and Clayton Homes have not yet been hit by the type of antitrust case that they may someday face, it should be widely acknowledged that Tim Williams has led 21st Mortgage Corporation and for some time, the Manufactured Housing Institute (MHI) as their chairman of the board. 21st is owned by Berkshire Hathaway. While 21st may not recently have come under the type of fire that the financial/news site Barron’s hit them with when they said that Warren Buffett is risking his “good guy” image, they have been the topic from time to time of troubling news from mainstream media. Yet, oddly, manufactured housing industry bloggers and trade media routinely fail to mention the evidence against 21st, Clayton Homes, or MHI. With that brief backdrop, this previous quotable quote from Williams on the record has proven useful.
Per Williams: “MHProNews and MHLivingNews are both good communications resources for the Manufactured Housing Industry. I and many others at 21st Mortgage and at MHI logon to see the latest news, interviews, debates, videos, opinions and reports they publish. Having a trade publisher that presents thoughtful, respectful commentary independent of any association’s perspective – as important as an association’s view can be – can be a big asset to advancing the MH Industry’s cause. Let me explain why…”
We strive to be self-aware. We know that our weakness has been what might be politely called ‘typos.’ We have not hidden that from our audience. As a top-level corporate leader linked to MHI said, “You [MHProNews/MHLivingNews] seem to have a conceptual IQ that is more important than spelling ability.” When we find an apparent error, we report it. That’s what good trade, or other news media, is supposed to do.
Note that remarks by Williams, and Krolewski regarding readership arguably here still holds. While our research, reports, and related analysis have grown sharper, several sources have told MHProNews that some of the top people in manufactured housing are still among our readers. The fact that we may be critiquing them, often by name, has not stopped them or their colleagues from being readers. That doesn’t mean that there hasn’t been costs to this effort, there has.
Despite threats direct and indirect, often from attorneys and others linked with MHI, MHProNews and our MHLivingNews sister site have stayed the course of where the evidence has taken us. We are grateful to the sources that have given us tips and insights that helped in our ‘awakening process’ and has in turn allowed us to report and give the type of analysis that we do.
With such remarks in mind, let’s pivot back to what MMI did and did not say and possible reasons why. This inquiry below was made with Bing AI.
> “Does Marcus and Millichap Inc (MMI) provide brokerage services for those interested in commercial manufactured housing investing? Is that perhaps part of the reason why they produce reports like their Marcus and Millichap 2H 2023 Manufactured Home communities research?”
> “Does Marcus and Millichap have any reported legal issues at this time or recently?”
It is all but guaranteed that out of thousands of articles on MHProNews, that this one will be among the most read for several weeks or months. At times, an article like this so resonates with our audience that it stays popular (in the sense of well read, not necessarily popular because people like what it has to report and observe) for years. Curious minds, to borrow the expression, want to know. There is an affordable housing crisis. Manufactured housing is underperforming. Who says? Ironically, even MHI members have, and that is their core problem. What Lavin called “the big boys” have effectively painted themselves into a corner, so long as someone who grasps the nuances and broad facts is listening and/or reading.
Samuel “Sam” Strommen in his thesis for Knudson Law said as much. In footnote #40, “A huge debt of gratitude is owed by the author of this paper [which is on apparent antitrust violations occurring in the manufactured housing industry]to the author of the article linked, L. A. “Tony” Kovach…” But it isn’t just now attorney Strommen, there are an array of voices inside and outside of manufactured housing that have said similarly.
The apparent corruption at work in manufactured housing is possible because of clever paltering and posturing. An ‘amen corner’ was established to praise MHI and their corporate leaders. It creates the ‘illusory truth effect’ that MHProNews has previously reported on.
These allegations are not about mere financial or ‘victimless’ crimes. The harm done impacts thousands upon thousands of employees, who might be earning more money in the absence of market manipulations. It impacts small business owners and investors too. The ripple effects also impact taxpayers and others. As the interests in antitrust and anti-monopoly efforts rises in the population, as cases like Google-Epic are decided, the odds for substantial change in manufactured housing may be increasing.
By pitching their investors on the tremendous opportunities in factory-built manufactured housing, and they are arguably correct in making such a pitch IF they were sincerely pursing maximum organic growth.
But if they are merely posturing to keep the ‘retail’ investors mollified, attract a few others, and then hope that they don’t find our publications and being to notice what is actually occurring, well, an array of potential legal concerns arise. You can’t tell investors that the affordable housing crisis means a potential $2 trillion-dollar economic drag on the U.S., that 6 million new housing units are needed, and then you fail to deliver even 100,000 new HUD Code manufactured homes in 2023? The disconnects for the reasonable mind are apparent. And the reasonable person is a standard that applies in material breaches, per the SEC and other sources. The bait and switch is not something that many people want to be victimized by, is it?
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The disconnects grow the more that someone begins to understand the true nature of the opportunity in manufactured housing. But that also means that the flip side is that the harms are widespread too.
Sound arguments based on facts, evidence and applied common sense can be forged that span the left-right political, social, cultural divides in the U.S.
It isn’t just association malpractice, it is journalistic malpractice, and apparent corruption that has harmed millions of Americans.
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James A. “Jim” Schmitz Jr. is an NBER economic professional conversant with antitrust concepts. Yet, he frankly admitted it took him years to begin to unravel and grasp what was occurring in the manufactured housing industry.
Strommen comes from the legal world, and much of his research occurred on MHLivingNews and MHProNews. Other experts and professionals named in that report linked below help round out a picture of just how corrupted numbers – NOT ALL – in manufactured housing have become.
The latest MMI report is in that sense some more pieces of evidence in the puzzle that help shed light on why manufactured housing is underperforming during an affordable housing crisis.
The more that MHI and some of their members claim that manufactured housing is an important part of the solution to the affordable housing crisis – and it is – the more they are guilty of pointing a finger outward, while they have three fingers pointing back at themselves.
Programming notice. Another new corporate-specific topic is planned for later this week. The evidence-based case can be made that the significance of reports with expert analysis like this one is only growing. Stay tuned. ##
Part III – is our Daily Business News on MHProNews stock market recap which features our business-daily at-a-glance update of over 2 dozen manufactured housing industry stocks.
This segment of the Daily Business News on MHProNews is the recap of yesterday evening’s market report, so that investors can see at glance the type of topics may have influenced other investors. Thus, our format includes our signature left (CNN Business) and right (Newsmax) ‘market moving’ headlines.
The macro market move graphics below provide context and comparisons for those invested in or tracking manufactured housing connected equities. Meaning, you can see ‘at a glance’ how manufactured housing connected firms do compared to other segments of the broader equities market.
In minutes a day readers can get a good sense of significant or major events while keeping up with the trends that are impacting manufactured housing connected investing.
Reminder: several of the graphics on MHProNews can be opened into a larger size. For instance: click the image and follow the prompts in your browser or device to OPEN In a New Window. Then, in several browsers/devices you can click the image and increase the size. Use the ‘x out’ (close window) escape or back key to return.
Headlines from left-of-center CNN Business – from the morning of 12.11.2023
- How Harvard, Penn and MIT’s presidents made such a fatal error in their free speech defense
- Elon Musk’s welcoming of extremists puts a spotlight on the NFL’s mega-partnership with X amid renewal talks
- Why Claudine Gay still has a job after Penn’s Liz Magill ouster
- Harvard University President Claudine Gay attends a House Education and The Workforce Committee hearing titled “Holding Campus Leaders Accountable and Confronting Antisemitism” on Capitol Hill in Washington, U.S., December 5, 2023.
- Harvard Alumni Association ‘unanimously and unequivocally’ supports Claudine Gay
- Elon Musk, Chief Executive Officer of SpaceX and Tesla and owner of X, formerly known as Twitter, attends the Viva Technology conference in Paris on June 16.
- Elon Musk petitions US Supreme Court for more freedom to post on X
- Microsoft to include labor unions in discussions on AI’s impact to workers
- Many US teens ‘almost constantly’ using YouTube, TikTok, new Pew Research report shows
- The Macy’s Inc. flagship store in the Herald Square area of New York, US, on Monday, Nov. 13, 2023. US holiday sales will grow at a slower pace this year amid economic headwinds such as higher interest rates, the National Retail Federation said. Photographer: Bing Guan/Bloomberg via Getty Images
- Macy’s shares soar on report of buyout offer
- Homeless person sits on the pavement under a sleeping bag while people pass by on Oxford Street on 9th March 2023 in London, United Kingdom. The scene is illustrative of the social disparity in the UK with some people who live in relative wealth in comparison to others. Oxford Street is a major retail centre in the West End of the capital and is Europes busiest shopping street with around half a million daily visitors to its approximately 300 shops, the majority of which are fashion and high street clothing stores.
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