For the thousands of readers who closely follow MHProNews reports, they already know about controversies that periodically arise regarding the true state of the manufactured home industry. A common question we probe is an obvious one to those who peer into manufactured housing.
- Given the value proposition, and the affordable housing crisis, why is the manufactured home industry underperforming?
Among the challenges that exist for outsiders looking into manufactured housing is the issue of reliable data. Even honest industry insiders seeking to navigate the various competing narratives can have challenges separating facts, opinions, spin, and sometimes wildly differing ‘information’ which is routinely presented by given sources as ‘genuine’ industry data.
Tonight we will look at an example of that on significant topics related to manufactured home communities and production.
For instance, as a possible report on this may be upcoming soon, a writer on Seeking Alpha recently made a statement about manufactured housing as if it were a fact. Unfortunately, on a key point, the case can be made that the claim the writer advanced simply was not so.
Seeking Alpha and other writers for specialized or mainstream media operations have made goofs recently too.
A common source of that misinformation? Regrettably, there is evidence that it comes from the Arlington, VA based Manufactured Housing Institute (MHI), and/or their related National Communities Council (NCC).
This evening’s report will be simple in this sense. The manufactured home industry is underperforming during an affordable housing crisis. The reasons given are many. But among the factors that influences investing is data. When sound information is lacking, that causes some investors to hesitate.
That purported lack of sound data and information may or may not be the goal of those who produce industry (mis)information, or who fail to promptly correct misinformation once it is publicly identified.
This evening’s featured focus will include part one of a planned multi-part report on Cavco Industries (NASDAQ:CVCO). Prior to the last two years, Cavco had a good strong run of growth and performance with minimal controversies. That began to change in November 2018 with the SEC subpoena issued to then Chairman and CEO, Joe Stegmayer.
In fairness to Cavco, let us note their following points of pride. Per their website: “Cavco Industries has been awarded the following accolades:
- MHI Manufacturer of the Year, for seven consecutive years
- Forbes Magazine 100 Best Managed Companies in the U.S.
- Forbes Magazine America’s 100 Best Small Companies
- 20% Women Directors- 2020 Women on Boards.”
Even with the drama of the past 2 years, Cavco still has respect in some circles.
That helps set the table for this evening’s featured focus. As regular readers know, the featured focus segment is found beyond tonight’s quotable quotes, left-right headline recap for tonight, and two of our three market summary graphics. The manufactured home connected equities snapshot at the closing bell for today follow the featured focus topic and our linked recent/related reports.
Quotes That Shed Light – American Social, Industry, National Issues…
Headlines from left-of-center CNN Business
- A fragile economic recovery
- People wearing protective masks wait in line to receive food at the Bay Area Rescue Mission’s Thanksgiving Giveaway in Richmond, California, U.S., on Tuesday, Nov. 24, 2020. Food banks across the country are dealing with long lines, as the the economic fallout of the Covid-19 pandemic has increased demand for food assistance. Photographer: David Paul Morris/Bloomberg via Getty Images
- Economists to Bernie Sanders: Don’t kill the relief bill over stimulus checks
- For the first time ever, investors can now trade water futures. Here’s why that’s a big deal
- Trump regulators leave a warning for the Biden team
- China’s trade surplus is now at a record. That’s great news for investors
- Americans used less gas this Thanksgiving week than any since 1997
- She’s an inventor and scientist, and TIME’s Kid of the Year
- A no-deal Brexit will destroy 300,000 jobs and push up food prices
- Kodak’s stock soars 70% after probe reportedly finds no wrongdoing
- Millions of Americans on food stamps can’t buy groceries online
- ‘Monster Hunter’ pulled from cinemas in China after ‘racist’ scene backlash
- This company struck gold delivering your favorite childhood food straight to your door
- The new Ford Bronco is delayed because of Covid
- 7 Mistakes You’ll Definitely Make With Financial Advisors
- LONDON, ENGLAND – JULY 12: Bob Dylan performs on stage at Barclaycard Presents British Summer Time Hyde Park at Hyde Park on July 12, 2019 in London, England. (Photo by Jo Hale/Redferns)
- Bob Dylan sells his entire catalog of songs to Universal
- Pizza Hut is selling a triple-decker pizza box
- The pandemic has led to an enormous spike in pet scams
- MARKETS
- IN SEARCH OF A PS5
- Customers dine at Wendy's outdoor seating near Union Square as the city continues Phase 4 of re-opening following restrictions imposed to slow the spread of coronavirus on August 26, 2020 in New York City. The fourth phase allows outdoor arts and entertainment, sporting events without fans and media production.
- Can’t find a Playstation 5 or the new Xbox? Try Wendy’s
- Why it’s so hard to find a PS5 or Xbox Series X
- PlayStation 5 is the exciting upgrade we hoped for
- Wait before buying Xbox Series X. Here’s why
- Next-gen consoles are here. So are the games
- THE BUSINESS OF FOOD
- NEW YORK, NEW YORK – MAY 23: A Grubhub delivery person can be seen from above riding a bicycle through an empty street amid the coronavirus pandemic on May 23, 2020 in New York City. COVID-19 has spread to most countries around the world, claiming over 343,000 lives with over 5.3 million cases.
- Why some restaurants are looking for alternatives to GrubHub and Uber Eats
- Food delivery companies may soon face a reality check
- Grocery stores are making it easier to order online
- Amazon expands one-hour grocery pickup
- A Dutch company is buying FreshDirect
Headlines from right-of-center Newsmax
- Speculation Aside, AG Barr Intends to Stay at DOJ ‘as Long as’ Trump Needs Him
- Election 2020
- Sidney Powell’s ‘Kraken’ Suits Fail in Michigan and Georgia
- Trump Questions GOP Gov. Kemp on Signature Verification
- Trump Legal Adviser: Arizona Speaker Using Giuliani Diagnosis to Delay Case
- Georgia Investigator: No ‘Mystery’ Ballots Counted After Poll Watchers Left
- Rick Scott: Democrat Senate Wins Mean ‘Control,’ Socialist Policies
- Newt Gingrich: GOP Has to ‘Turn Out More Votes Than Stacey Abrams Can Steal’
- 6 States Where Mail-In Ballots Cost Trump the Election
- Gov. Duncan: Georgia Election Not Rigged
- The Trump Presidency
- Congress Eyes Short-Term Funding Measure
- Barr Intends To Stay At DOJ ‘As Long As’ Trump Needs Him
- Cassidy: Bipartisan Relief Plan Will Pass ‘In Some Way’
- HHS Sec. Azar: Pfizer Vaccine Could Come Out ‘Within Days’
- Finance
- JPMorgan Sends Pandemic Relief Policy Recommendations to Lawmakers
- JPMorgan Chase & Co, the biggest U.S. lender, has laid out a set of policy recommendations for lawmakers, aimed at driving a swift recovery from the COVID-19 pandemic and reducing racial inequality. The paper, reported earlier by CNBC, suggests additional pandemic relief… [Full Story]
- Airbus Says It Delivered 64 Aircraft in November
- Nasdaq Jumps to Record High as Tech Stocks Back in Favor
- Sequoia Capital Enjoys 11-Fold Returns Despite Bleak Economy
- Water Futures to Start Trading Amid Scarcity Fears
- Gallup Poll: Americans’ Mental Health Ratings Hit New Low
- According to a new Gallup poll, America’s mental health has deteriorated to the worst point it has been in two decades. Only 34% of U.S. adults say their mental health is excellent, down from 43% last year.
Market Indicator Closing Summaries – Yahoo Finance Closing Tickers on MHProNews…
Featured Focus –
Where Business, Politics and Investing Can Meet
Tonight’s featured focus will be more graphics and illustrations and less text than normal, in order to make this point. Information in manufactured housing from ‘reputable’ sources is often self-contradictory and thus questionable at best or unreliable.
Above is an illustration from a new document from Cavco Industries. Notice that it shows the manufactured home land-lease community count at 40,000 properties. They cite the source as the Manufactured Housing Institute, or MHI. Stegmayer – Cavco’s prior chair, president and CEO – was also the previous MHI board chairman.
But a prior Cavco Investor relations (IR) presentation put the number of communities at 50,000. It also cites MHI as the source.
For detailed minded professionals, investors, advocates, and other interested parties, if they noticed that 10,000 communities’ difference, what would they think? Might they think that 10,000 land-lease communities were ‘lost?’
There are numerous examples of such problems, which are explore in more detail in the reports linked above and below. Both reports explore prima facie cases for incorrect, problematic, and potentially deceptive reports that arguably trace back to MHI and their key members.
Related, Recent, and Read Hot Reports
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).
Fall 2020…
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.
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Sample Kudos over the years…
Learn more about our evolutionary journey as the industry’s leading trade media, at the report linked below.
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Disclosure. MHProNews holds no positions in the stocks in this report.
That’s a wrap on this installment of “News Through the Lens of Manufactured Homes and Factory-Built Housing” © where “We Provide, You Decide.” © (Affordable housing, manufactured homes, stock, investing, data, metrics, reports, fact-checks, analysis, and commentary. Third-party images or content are provided under fair use guidelines for media.) (See Related Reports, further below. Text/image boxes often are hot-linked to other reports that can be access by clicking on them.)
By L.A. “Tony” Kovach – for MHLivingNews.com.
Tony earned a journalism scholarship and earned numerous awards in history and in manufactured housing. For example, he earned the prestigious Lottinville Award in history from the University of Oklahoma, where he studied history and business management. He’s a managing member and co-founder of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com. This article reflects the LLC’s and/or the writer’s position, and may or may not reflect the views of sponsors or supporters.
