The Daily Business News on MHProNews will take step back in time to January 19, 2019, when Andrea Riquier with MarketWatch reported on a noteworthy trend. This will tee up the first of a periodic series of reports on what Harvard’s Eric Belsky called the ‘life blood’ of housing, financing. On a day when the markets generally rose, as the stocks tracked here from MHVille were mixed, we’ll look at Riquier’s data to see what insights it offers for manufactured housing industry professionals, watchers, and investors.
If you’re new, already hooked on our new spotlight feature – or are ready to get the MH professional fever – our headline report is found further below, after the newsmaker bullets and major indexes closing tickers.
The evolving Daily Business News market report sets the manufactured home industry’s stocks in the broader context of the overall markets. Headlines – at home and abroad – often move the markets. So, this is an example of “News through the lens of manufactured homes, and factory-built housing.” ©
Part of this unique evening feature provides headlines – from both sides of the left-right media divide – which saves busy readers time, while underscoring topics that may be moving investors, which in turn move the markets.
Readers say this is also a useful quick-review tool that saves researchers time in getting a handle of the manufactured housing industry, through the lens of publicly-traded stocks connected with the manufactured home industry.
This is an exclusive evening or nightly example of MH “Industry News, Tips and Views, Pros Can Use.” © It is fascinating to see just how similar, and different, these two lists of headlines can be.
Want to know more about the left-right media divide from third party research? ICYMI – for those not familiar with the “Full Measure,” ‘left-center-right’ media chart, please click here.
Select bullets from CNN Money…
- America has too many stores
- 6,000 stores have already closed this year. That’s more than all of last year
- Millions of people globally can’t access the internet. Amazon wants to change that
- ANALYSIS Tech companies have a major ‘live’ problem
- ‘The Hunchback of Notre-Dame’ sales soar on Amazon France
- Casper has woken up the bedding industry
- Sony’s next PlayStation: Here’s what we know
- LIVE UPDATES Stocks close slightly higher, boosted by Qualcomm rally
- Huawei’s rise to the top wasn’t pretty
- Aston Martin unveils its first electric car
- How to job search without losing your current job
- Buttigieg campaign in talks with Fox News to host televised town hall
- Best Buy’s new female CEO will join a growing — but still minuscule — club
- Apple and Qualcomm drop all of their legal disputes
- Netflix is nearing 150 million subscribers
- France’s 3 richest families lead $700 million fundraising effort for Notre Dame
- Why I’m not quitting Facebook yet
- New Zealand’s privacy commissioner calls Facebook ‘morally bankrupt’
- AOC quit Facebook. Welcome to the club, Congresswoman
- Leaving Facebook makes people happier but less informed, study says
- The world is coming after Silicon Valley. Tech companies must evolve to survive
- How Best Buy’s outgoing CEO rescued the company
- Caesars takes a bet with new CEO
- Mattress Firm loses CEO
- Wells Fargo’s CEO is out. Here’s how the bank can end its crisis
- Netflix’s Reed Hastings to depart Facebook’s board
Select Bullets from Fox Business…
- T-Mobile, Sprint shares drop amid DOJ opposition to $26B merger
- Stocks up despite health care company worries
- Former Google CEO ‘absolutely convinced’ AI will create ‘huge jobs shortage’
- Apple, Qualcomm settle royalty litigation, Qualcomm shares soar
- FAA safety panel certifies training for Boeing Max software update as investors call for board revamp
- Netflix earnings rise in 1Q but pace of new US subscribers slows
- What 2020 Democrats want to fund by repealing Trump’s tax cuts
- Stop & Shop strike: What to know
- WATCH: Ocasio-Cortez suggests cutting Israel aid. Gen. Jack Keane says ‘It’s money well spent’
- Bernie Sanders wants to impose a Wall Street speculation tax: What to know
- Tiger Woods to earn Medal of Freedom after Masters win, joins star-studded list of athletes
- Apple joins Louis Vuitton, Gucci owners in pledge to rebuild Notre Dame after fire
- US, China making good progress ‘across the board,’ Larry Kudlow says
- NY congresswoman AOC refuses to meet with banks’ top brass
- illennials lie the most on resumes – here are the most common fibs
- Alibaba’s Jack Ma calls 12-hour days a ‘blessing,’ argues for 72-hour work week
- Here’s how much wealthy Americans pay in taxes
- What you need to know if you miss the tax deadline
- These taxpayers have extra time to file this year
- AT&T sells Hulu stake, values video service at $15B
- United joins American, Southwest in canceling Boeing Max flights
- Foxconn chair Terry Gou says he may run for Taiwan president, step back from daily business
- CBS-Viacom merger talks back on delaying Moonves replacement
- Charlie Kirk: Why China is America’s greatest enemy
- 5G race full-speed ahead: Misguided attempt to nationalize is over, for now
- Notre Dame fire strikes the heart of Paris: Varney
Today’s markets and stocks, at the closing bell…
Today’s Big Movers
For all the scores and highlights on tracked manufactured home connected stocks today, see the Bloomberg graphic, posted below.
Today’s MH Market Spotlight Report –
“Visiting a bank to get a mortgage? You’re in the minority,” wrote Andrea Riquier. “With earnings from three of the four biggest banks in, one metric stands in sharp relief. Mortgage lending just keeps plunging.”
Here are some key pull quotes.
- In the fourth quarter, mortgage originations at Citi were down 23% compared to a year ago. At Wells Fargo WFC, they were 28% lower, and at JPMorgan Chase JPM, they were down 30%.
- What’s going on? Here’s how JPMorgan CFO Marianne Lake described it in her prepared remarks to analysts Wednesday: “Home Lending revenue was down 8%, driven by lower net production revenue in a low volume highly competitive environment.”
- In other words, fewer people want to take out mortgages from us, and those who do aren’t as profitable for us.
This is relevant to manufactured housing on numerous levels. Let’s note first that Wells Fargo, which Berkshire Hathaway has a serious stake in, has routinely been among the top 3 lenders on manufactured homes for some time.
- First, it is outrageous that during an affordable housing crisis, that manufactured homes have been in a 6-month downturn. That’s an indictment on the industry’s big boy leaders, no matter how you want to spin it. When some 80 percent of the production is produced by three firms covered in our report below, that’s a financial finger wagging in their faces.
- While MHProNews has a report out of Michigan that suggests that the downturn might mitigate in the March shipment numbers, even if there is a rise, that will still be tepid compared to shipment levels from 20 years ago.
- Part of the issue that the Manufactured Housing Association for Regulatory Reform (MHARR) and others point to is related to financing of manufactured homes. See a recent MHARR report, linked here.
Back to what MarketWatch said then…
- Banks spent the early years of the post-financial crisis recovery fleeing the mortgage market. But more recently, it’s felt a little like the mortgage market is fleeing from banks. Mortgage lending is down, mostly because there aren’t enough houses for people to buy to sustain a healthy housing market – although rising rates aren’t helping either. Also thanks to those higher rates, the long refinance boom is over.
- Among those people who do find houses to buy or a reason to take out a different mortgage, more are using “non-banks” like Quicken Loans and LoanDepot than old-fashioned deposit-taking institutions. As of the end of last year, 59% of all mortgages were made by non-banks, according to Urban Institute data.
MHProNews’ publisher L. A. ‘Tony’ Kovach wrote a column called “The High Cost of Low Volume Sales.” The Texas Manufactured Housing Association (TMHA) were among those that reproduced that article. A flashback on that is linked here.
Here at MHProNews, we follow the money trail, the fact, evidence, and logic and ask the questions that no one else in our industry’s trade media are writing about. Perhaps that’s why sources indicate our readership is greater than the next 3 trade publishers combined. Bold claim? Perhaps, but it happens to have evidence to back it up.
The industry’s investors ought to be demanding answers from the Big 3, and their ‘big boy’ association, the Manufactured Housing Institute (MHI).
Why? To begin to answer that, consider the 4 linked articles, below. For investors that are looking for answers, you’ve arguably come to the right place.
HBO’s John Oliver on Last Week Tonight Mobile Homes Video, Manufactured Home Communities Fact Check – manufacturedhomelivingnews.com
” Mobile homes were perfected by humans, but invented by snails,” John Oliver on HBO’s Last Week Tonight, per Time. ” The homes of some the poorest people in America are being snapped up by some of the richest people in America.” Really?
Bridging Gap$, Affordable Housing Solution Yields Higher Pay, More Wealth, But Corrupt, Rigged Billionaire’s Moat is Barrier – manufacturedhomelivingnews.com
America woke up today to division. But perhaps 75 percent (+/-) of the nation’s people could come together on a plan that demonstrably could do the following. Increase the U.S. Gross Domestic Product (GDP) by some $2 Trillion Annually, without new federal spending.
Bloomberg Closing Ticker for MHProNews…
NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services.
NOTE: The chart below covers a number of stocks NOT reflected in the Yahoo MHCV, shown above.
NOTE: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).
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 all supply manufactured housing.
AMG, CG and TAVFX have investments in manufactured housing related businesses.
Your link to industry praise for our coverage, is found here.
For the examples of our kudos linked above…plus well over 1,000 positive, public comments, we say – “Thank You for your vote of confidence.”
“We Provide, You Decide.” © ## (News, analysis and commentary.)
(Image credits and information are as shown above, and when provided by third parties, are shared under fair use guidelines.)
Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.