REITs beat the S&P 500 and could return up to 13% in the next year, MarketWatch informed MHProNews. Housing starts rise to second-highest rate since recession. Meanwhile the Fed’s Dudley says September rate hike ‘is possible’ as the CPI remained unchanged in July. Daily results place stocks at a lower close amid hawkish Fed talk.
Daily Business News Market Tracker:
The Dow Jones Industrial Average lost -84.03 points to close at 18,552.02.
The S&P 500 also closed down -0.55% to 2,178.15.
NASDAQ dropped -34.90 points ending at 5,227.11.
** Yahoo’s Manufactured Housing Related Index Components **
The Yahoo Manufactured Housing Composite Value (MHCV) lost 11.05 points to finish at 1,384.64. The MH-related stocks biggest loser was Skyline Corporation with -4.65% drop closing at $9.85 and the biggest gainer was Northstar Realty Finance Corp. inching upwards to $13.39.
*Note: the chart below includes stocks not included in the MHCV
Berkshire Hathaway is the parent company to Clayton Homes, 21st Mortgage, Vanderbilt Mortgage and other factory built housing industry suppliers. Drew, Patrick, UFPI and LP all supply manufactured housing, while AMG, CG and TAVFX have investments in manufactured housing related businesses. ##
(Image credits, MarketWatch.)
MH Industry Market Report by Frank Griffin, to Daily Business News for MHProNews.