Preface: something can have true remarks and nevertheless may be misleading. The Clayton Homes-Next Step white Paper headline, shown above and below, is an apparent example of that observation. “Off Site Built Homes Proven to Appreciate in Value.” That is an accurate statement. However, an apt response to that Clayton-NextStep statement should be ‘True, BUT...’ To understand why, one might begin with the university-level expert discussion: “The Magic of the Mind: Illusion, Misdirection, and Deception in Our Everyday Lives.” That topic is discussed by experts on the Think.ND.edu website. A brief on “The Magic of the Mind: Illusion, Misdirection, and Deception in Our Everyday Lives” is revealed below. Next, according to an Manufactured Housing Institute (MHI) generated membership list obtained from their website and linked here, Clayton Homes and the Next Step Network, LLC are both MHI members. Then note that MHI’s website homepage claims to have “over 1000” member companies on 2.16.2023. That remark has been used by them for some time. But a close look reveals that MHI membership document says that “Clayton Retailers” were then credited with having 357 locations. Titan Factory Direct Homes was shown with 10 locations. Palm Harbor Retailers are credited as having 20 locations. Those location counts have since changed, but the point that follows remains valid. Berkshire Hathaway owned Clayton Homes (BRK), Titan’s parent company Skyline-Champion (SKY), and Palm Harbor’s parent company Cavco Industries (CVCO) are apparently credited for each of their retail centers being an individual MHI member. Carefully look at the MHI generated document and member list to grasp that point. After Richard “Dick Jennison, when he was MHI’s president and CEO, used that apparent word-play to attempt to imply that MHI membership had suddenly surged by hundreds of members. But when MHProNews pressed Jennison on the point that each retail location is apparently being counted as a separate MHI member, what did Jennison do? Jennison ducked, dodged and finally declined confirming that reality in follow up messages in reply to MHProNews’ inquiry. Next, note that MHI has repeatedly declined providing, as the applicable law and regulations apparently require, the MHI bylaws and their other nonprofit organizational documents when requested. What are they hiding? Doing so would confirm that observation. But perhaps more important, the evidence noted and linked suggest that Clayton potentially has hundreds of ‘votes’ at MHI because each their own literature apparently reveals that every Clayton retailer is counted as an MHI member. SKY and CVCO similarly seem to have multiple votes too. When asked to confirm or deny that observation since it was first published, MHI and their outside attorneys have routinely declined doing so. Restated, those evidence-based observations and facts being the case, beyond the Clayton Homes funding that flows to MHI, Clayton also carries extraordinary weight through location votes too.
One could presume, as has been alleged, that MHI board of elections are ‘rigged’ through an apparent multiple collective votes’ mechanism.
Next Step
Additionally, beyond question, the Clayton Foundation is shown at the top of the list of major funders for Next Step in their 2021 annual report. Once more, top donors routinely carry more weight with a nonprofit than those who give much less, little or nothing.
ThinkND
Those points above noted, James Brockmole is listed as the Associate Dean for the Social Sciences and Professor of Psychology at Notre Dame University. Brockmole was part of a university-level presentation entitled “The Magic of the Mind: Illusion, Misdirection, and Deception in Our Everyday Lives.” It says in the introduction that “On stage, magicians create a fantasy of impossibility that audiences are willing to believe to be real. Using real-world examples and demonstrations, this talk [see video] explains why we are prone to see what isn’t there, miss what is right before our eyes, remember seeing things that didn’t happen, and nevertheless make it through a day of living unscathed.”
Brokmole, an expert, is explaining the process by which minds can be lured into believing things that aren’t as they seem in his: “The Magic of the Mind: Illusion, Misdirection, and Deception in Our Everyday Lives.”
That process of deception and misdirection has observably occurred in and beyond MHVille. That has been described and documented multiple times by MHProNews in numerous reports over the years, see a recent example, linked here. It includes examples of paltering, posturing, often creating an echo chamber that then repeats the propaganda or spin.
CRC
At the Capital Research Center’s (CRC), they are known for rigorously documenting how they follow the facts, money-trail, and other evidence in reports posted on their website. They source across the left-center-right divide. CRC has a section of their website dedicated to reports on examples of “deception and misdirection.”
“Deception and misdirection” can be deployed by public officials, nonprofit organizations, or corporate leaders, among others, per the numerous examples CRC research has documented.
How those Examples and Notions Shed Light on Clayton-Next Step’s White Paper
Each of those items above are useful in understanding the Clayton Homes-Next Step ‘white paper.’ Their statements are by two prominent MHI member firms.
While Next Step’s name is on their joint white paper, due to the power of their money, the reality is that Next Step is unlikely to say or do something that Clayton hasn’t requested or has otherwise broadly or specifically agreed to, based on Clayton’s donations funding the Next Step nonprofit.
To Professor Brockmole’s point, an apparent illusion is generated when MHI, NextStep, or other Clayton-backed fronts are engaged. At some level, the Clayton-Berkshire agenda is involved.
Recall that left-leaning actor Danny Glover (political left) made the pithy and insightful observation: “It’s not only a monopoly of wealth, it’s a monopoly of information as well.”
CRC’s about us description is more from the political right: “Capital Research Center (CRC) was established in 1984 to promote a better understanding of charity and philanthropy. We support the principles of individual liberty, a free market economy and limited constitutional government: These are the cornerstones of American society.” Some of CRC’s reports ‘follow the money’ in nonprofit’s funded by so-called Dark Money, including Buffett-connected Arabella Advisers.
Capital Research Center say they are “America’s investigative think tank.” They also said: “CRC has exposed how those organizations are “captured” by interest groups and used to undermine Americans’ freedoms.”
Per CRC: “Today, we study unions, environmentalist groups, and a wide variety of nonprofit and activist organizations. We also keep an eye on crony capitalists who seek to profit by taking advantage of government regulations and by getting their hands on taxpayers’ money.
We’re not afraid to take on the Washington Establishment—Republican, Democrat, or anyone else.”
We do have a specific point of view. We believe in free markets, Constitutional government, and individual liberty. But facts are facts, and our journalists and researchers go where the facts lead them.
CRC is tax-exempt and fiercely independent. We perform no contract work and we accept no government funds—not one cent.”
Simply put, CRC’s is stating that they are free of the kind of influences that NextStep or MHI appear to be subject to when it comes to Clayton Homes. When CRC reports, their research speaks for itself and doesn’t represent a hidden agenda.
With that preface in mind, new readers are hereby advised, and longtime readers are reminded, that Kevin Clayton seemingly glowed during his video interview with Robert Miles (see report and video linked here and below).
That Miles-Clayton video interview by an apparent promoter (Miles) of the wonders of Warren Buffett and Berkshire Hathaway (BRK). Buffett led Berkshire is the parent company that bought Clayton Homes and their affiliated manufactured home lending. Part of the ‘genius’ of Buffett, said Kevin Clayton while glowing about his boss’ creativity, are the use of moats, connections, information, and nonprofits. The interconnected web of influences and capital access can reveal the agendas that may not be openly proclaimed, but broadly support Berkshire interests.
The specific ways Clayton explained that are readily found in the Q&A with Miles. See video with transcript posted below on ManufacturedHomeLivingNews.com (MHLivingNews). That said, the pull-quote below illustrates the above and is therefore worth sharing from that video transcript.
In MHVille, Smiling Faces May Hide a Subtle-to-Bold Agenda(s)
It is Kevin who said in a video recorded remark in a softball interview by Miles that Buffett doesn’t like competition.
It is Clayton who said that he wants to make it hard on his MHVille independent competitors. See the evidence in the video/transcript linked here and below.
One might think that Clayton’s remarks could be considered in an antitrust or other legal action. A clever defense attorney might raise the question: ‘Where those comments by Clayton serious or not?’ in order to cast doubt on the obvious.
That noted, when one looks at what has occurred in the manufactured housing industry in the 21st century since the dawn of the ‘Berkshire era,’ regrettably, the evidence-based case can be made that Clayton’s market share and fortunes soared while scores of their competitors have crashed. See the evidence posted further below.
To grasp why there has not been a massive outcry over what has occurred in the manufactured housing industry (i.e.: MHVille), someone must keep paltering, illusion, deception and misdirection.
With those facts, expert views, evidence, and backdrop in mind, a reader is now better able to grasp the types of nuances – the truths, half truth’s, deception and misdirection – that will be identified in the so-called Clayton-Next Step ‘white paper.’ That will be explored in Part II of this report.
Left-leaning Wikipedia says: “A white paper is a report or guide that informs readers concisely about a complex issue and presents the issuing body’s philosophy on the matter.” Put differently, Clayton is making a pitch. When an organization that has used paltering, deception, misdirection, and posturing as part of their modus operandi (M.O.) says or writes something, the potential for ‘magical’ illusions are arguably best kept in mind.
All that said, Part I is the text from the Clayton Next Step ‘white paper’ on manufactured housing appreciating in value. Part II will be the analysis and commentary of Clayton and Next Step’s remarks.
Part I
OFF-SITE BUILT HOMES PROVEN TO APPRECIATE IN VALUE:
Providing Equity Building Opportunities & Reshaping Today’s Housing Market
Fortunately, there is a growing recognition of the need to rethink how we can make the housing market work for more people in the U.S. The off-site built housing industry, which refers to manufactured and modular homes, can present a ready-made, scalable solution that can help move the needle and give more people the opportunity to become homeowners. These modern homes can bridge the affordability gap for entry-level and middle-tier housing by merging the best of both on-site features and off-site construction efficiencies.
Home appreciation is a key way for homeowners to build wealth. A growing body of research shows that off-site built housing can appreciate at nearly the same rate as site-built housing, making it a smart investment for an individual’s future.
A new study from LendingTree shows off-site built homes are generally more affordable than site-built homes, and they have appreciated in value at the same rate as site-built homes from 2016 to 2021.
Furthermore, an analysis of the Federal Housing Finance Agency’s MH index by the Urban Institute shows the same appreciation pattern.
This appreciation has real benefits for families across the country, like the Woody Family of Western North Carolina.
The Challenges of Today’s Market
The lack of current affordable housing has made it nearly impossible for many people to realize the American dream of homeownership. Research from Freddie Mac shows a housing supply gap of 3.8 million housing units, and construction of entry-level homes is at a 50-year low. Traditional home builders have largely abandoned the construction of entry-level, or “starter homes,” that historically allow more first-time buyers to enter the market and begin to create equity.
The share of entry-level homes in overall construction declined from
40% in the early 1980s to 7% in 2019
| Helping the Woody Family Find the American Dream
In 2015, Robert and Chasity purchased a Clayton off-site built home and land parcel outside of Asheville, North Carolina for $179,500. Since then, the home and property have appreciated an estimated additional $135,500 to $315,000 in July 2022. Clayton and Next Step recently revisited the Woody family and learned how their home has become an investment in their family’s lives and future. [MHProNews note: the video posted below says the couple was paid to endorse the home, more on that and other insights, including that the family in question reportedly bought a modular home, not a manufactured home.] |
The median sales price of a newly constructed home in September 2022 was $470,600. Meanwhile, the real U.S. median household income in 2021 was $70,784. Housing affordability is typically defined by limiting housing costs to 30 percent of income. Based on an annual income of $70,784, a typical household can afford a $244,000 home (a little more than half that of today’s median home cost). As of January 2021, an estimated 41.1 million potential borrowers aged 45 and younger are considered “mortgage ready” but struggle to find a home due to limited supply at their price point.
The median sales price of a newly constructed home in September 2022 was $470,600. Meanwhile, the real U.S. median household income in 2021 was $70,784. Housing affordability is typically defined by limiting housing costs to 30 percent of income. Based on an annual income of $70,784, a typical household can afford a $244,000 home (a little more than half that of today’s median home cost). As of January 2021, an estimated 41.1 million potential borrowers aged 45 and younger are considered “mortgage ready” but struggle to find a home due to limited supply at their price point.
30% of Housing Cost by Household Income Levels
| VERY LOW HOUSEHOLD INCOME | LOW HOUSEHOLD INCOME | MEDIAN HOUSEHOLD INCOME | |
| Annual Income | $35,392 | $56,627 | $70,784 |
| Max Home Price w/o Additional Subsidy | $77,000 | $155,500 | $244,000 |
Why Homeownership Still Matters
In addition to the long-term financial gains that a household can make through homeownership, there are other benefits to individuals and families who own as opposed to renting.
According to a research summary prepared by Habitat for Humanity International, homeownership leads to improvements in graduation rates, children’s health, and overall net family wealth. Research shows marked decreases in behavioral problems in children, less reliance on government assistance, and reduction in asthma-related illnesses.
So how can we create more housing supply, but keep costs affordable for hard working Americans?
The Benefits of Off-Site Built Construction
Off-site built homes are uniquely positioned to bridge the affordability gap for entry-level and middle-tier housing. They can be more affordable for both housing developers and buyers for a variety of reasons:
- They are built inside climate-controlled home building facilities where construction is not impacted by weather that can cause delays.
- Sustainable building practices reduce the impact on the planet as energy use can be monitored, waste diverted, and materials recycled whenever possible, resulting in better efficiencies and lower home costs.
- Building materials and name brand appliances are purchased in bulk and distributed to the builder’s network of facilities nationwide, utilizing economies of scale to reduce costs.
- Close monitoring of building efficiencies inside the facilities, such as production line assembly and resource management, also aid in driving down the overall cost of construction.
- These homes are precision built with home energy efficiency in mind and typically include energy-saving features and appliances. This attention to detail translates to lower utility costs for the homeowner.
Builders of off-site housing have had a long-term focus on improving the efficiencies around constructing homes inside a facility environment. Today, innovations in building technologies, home quality, and floor plan options have continued to showcase these homes as a stylish and smart housing option for today’s buyer.
CrossMod® Homes: A New Path to Filling the Housing Gap
CrossMod homes are built to HUD-code and blend off-site construction and on-site features to produce an affordable home that looks, performs, and can be financed and appraised like a site-built home. CrossMod homes include many site-built features, such as an elevated roof pitch; drywall interior; permanent foundation; and garage, porch, or carport. CrossMod homes offer forward-thinking designs, energy-efficient features, and high-end materials without sacrificing the efficiency, quality, and construction speed that comes with off-site home construction.
For decades, homeownership has been the quintessential path to prosperity and upward mobility for millions of American families. However, the U.S. homeownership rate was only 65.8 percent in Q2 2022. In addition to the challenges in the current housing market, there have also been recent historical barriers that have hindered homeownership, such as rising student loan debt, inflation, and a lack of affordable housing developers.
The price of a CrossMod home is dependent on the market, homebuilding facility, and other factors. With the current average cost of a CrossMod home at approximately $300,000 nationwide, including the cost of land, they typically cost significantly less than traditional new home construction. At this price point, CrossMod homes are an attractive solution for both developers and home buyers.
For developers, it adds another housing tool in their toolbelt. With a CrossMod home, an off-site home builder constructs the home inside a facility, relieving some of a developer’s labor pressure (e.g., a smaller developer that builds 10-30 homes a year could add 5-10 more homes per year with CrossMod). For home buyers, this style of home offers all the same features, amenities, and styles of new site-built homes, but one that they can better afford.
[MHProNews Note: One of several reasons that MHProNews can’t endorse this white paper are due to apparently problematic claims made in this video, which was linked above and is provided here (as was the other linked video) for reader convenience and to allow for a more coherent critique of this Clayton-Next Step pitch. More on this below.]
|
Wealth and Equity Building Opportunities for Buyers
But, despite these hurdles, appreciation still remains one of the most important paths toward long-term wealth building for families across the U.S. Buying an off-site built home and placing it on a permanent foundation is arguably the most attainable option to start that journey – especially in today’s current market.
This is partly due to newer and enhanced financing options for CrossMod homes. Mortgage finance options from Fannie Mae and Freddie Mac (MH Advantage™ and CHOICEHome® respectively) offer conventional site-built financing for real-property facility-built homes, that are built to the HUD Code and have the features of a site-built home. These mortgage options also allow for site-built comps, meaning that when appraisers are assessing home value, they can get a better estimate of a home’s value based on the surrounding neighborhood or community.
| Appreciation is also driven by homeowners themselves. As with site-built homes, regular care and maintenance are more likely to increase any home’s resale value, as will desirable enhancements or additions made to a home. |
About 15 years ago, the Kentucky-based nonprofit organization Frontier Housing partnered with Clayton and the Ford Foundation to undertake a demonstration of high-quality manufactured homes, comparable to today’s CrossMod homes. The Community of Edgewood, a wholly new subdivision, featured a collection of ENERGY STAR®-rated homes. All the homes in the neighborhood were
placed on permanent foundations that met Federal Housing Authority Title II standards and financed with mortgage loans. Particular attention was paid to creating curb appeal and modern aesthetics identical to those of nearby site-built homes. These homes also included universal design features for improved accessibility, ensuring that homeowners can age in place comfortably. Over time, these homes have appreciated in value and blended into the neighborhood with site-built homes.
Both estimates and public data provided from the real estate website Zillow show that these homes have, in fact, appreciated comparably in value to other homes in the market. As an example, Zillow estimates that two homes in the Edgewood neighborhood that originally sold for $115,00 and $116,000 have increased in value to $164,200 and $172,500 respectively (a more than 40% increase). Zillow’s estimating tool shows the homes placed in Edgewood in 2007-2008 remain comparable in value to homes in that same market.
Building at Scale: The Possibilities for Off-Site Built Homes
One could pose the question: if all signs point to the potential for off-site built homes to help correct the affordable homeownership market, why hasn’t it already? While there may be no unifying answer to this course question, there are some factors that can be readily identified.
Exclusionary Zoning
The largest barriers that stifle expanded use of off-site built homes are restrictive zoning and outdated land-use policies.
Zoning is an inherently local issue, and many jurisdictions specifically exclude homes constructed in a facility (often using outdated terminology like “mobile homes” or “trailers”). According to Freddie Mac, local jurisdictions can also discourage use of off-site built homes in several other ways, including lot-size and parking-space minimums; architectural design standards; requirements around building materials; and onerous approval processes, permitting, and fees.
However, some states, like California and Oregon, have taken proactive steps to encourage the use of off-site built homes by superseding local zoning restrictions. Zoning for manufactured homes in California is governed by the state’s Department of Housing and Community Development. Additionally, the California State Senate convenes a Select Committee on Manufactured Home Communities that studies the needs for legislative changes as necessary. Similar to California, Oregon law requires that local regulations permit manufactured homes in zones where single-family dwellings are permitted.
Federal agencies are also beginning to take notice of the possibilities presented by off-site built homes. In May 2022, the White House released an action plan to help close the housing supply gap, and the use of manufactured housing solutions features prominently in the plan.
Additionally, the Department of Housing and Urban Development has been more proactive in educating policymakers and the public on the quality and advantages of off-site built homes, hosting a showcase of off-site built homes on the National Mall during the summer tourist season.
Developer Adoption
Currently, very few housing developers leverage offsite built construction as a method for their housing and neighborhood development projects. Multiple CrossMod® homes can be delivered to a developer site at one time. This means a developer can have multiple foundations ready and rent a crane for only one day. This saves time and money for a developer and helps increase the supply of affordable housing in an area.
As an example, Clayton strives to make CrossMod a supplemental option for lower volume developers. Clayton gives developers a PE certified foundation plan, and provides set-up contractor options and materials to complete the project. This hands-on approach is designed to remove any barriers for a developer to work with manufactured housing and more specifically, CrossMod.
Existing Stigma and NIMBYism
As Next Step and Clayton have explored in a previous publication, outdated perceptions of off-site built homes are still prevalent. Additionally, housing and community development efforts frequently encounter NIMBY-ism (which stands for Not-In-My-Backyard) with some community members and groups viewing most forms of more affordable housing as a negative.
Education is critical for helping the public and government leaders understand the facts about off-site built housing and making these homes more broadly available to American communities throughout the U.S. … [Closing website link and media contact omitted]. ##
Notice: the PDF of the Clayton-Next Step self-proclaimed ‘White Paper’ – including its illustrations – are linked here as a download.
Part II. Additional Information with More MHProNews Analysis and Expert Commentary
This segment will be composed of two segments.
- A) A quick list of bullets that reflect the misses, oddities, and apparent ‘deception and misdirection’ in the white paper above.
- B) Examples outlined in the preface above will be documented by facts, data, various graphics, evidence, applied common sense, and MHVille expert analysis.
With that plan, let’s dive into the bullet for Part II A.
A.
In no particular order of importance are the following omissions, observations, and agenda-driven concerns about the Clayton-Next Step White Paper.
- 1) Why didn’t Clayton-Next Step issue this white paper in 2021 or earlier in 2022? MHLivingNews waited several weeks before publishing the item below. That could have given Clayton, NextStep, or MHI plenty of time to highlight this. MHLivingNews published this on 1.8.2022. By contrast, much larger Clayton-Next Step published their white paper after LendingTree published their second report on the appreciation of manufactured housing topic, some 9 months later.
- 2) Where is the mention of the Manufactured Housing Improvement Act (MHIA) of 2000 in the Clayton-Next Step White Paper?
Not only does MHI’s website lack any mention of enhanced preemption, but so too does their apparent trade media surrogate, MHInsider.
By contrast, the MHARR website, younger than its larger MHI rival, has numerous mentions of enhanced preemption, which can be used to overcome zoning and placement barriers that Clayton-Next Step acknowledged in their ‘white paper.’
A use of the MHProNews and/or MHLivingNews search tool would reveal dozens and dozens of articles that reference enhanced preemption. So do press releases by MHARR, MHProNews, and MHLivingNews. So, why doesn’t MHI mention in on their website or in press releases? Why didn’t Clayton and Next Step mention enhanced preemption in their white paper? The apparent answer is tied to posturing an effort to present potentially useful third-party research, while leaving out some of the best points. It is classic paltering, posturing, deception and misdirection in action. See Part B and the linked items for more.
- 3. Note that LendingTree doesn’t mention CrossMods of modular homes. So, why did Clayton-Next Step mention those types of factory-built housing instead of focusing on manufactured housing?
- 4. With respect to CrossMods, several troubling realities emerge. The Kevin Clayton video linked from their ‘white paper,’ which was posted above for reader convenience, makes several odd claims and notable omissions. How many CrossMods (previously dubbed ‘new class of manufactured housing’) have been sold since 2017? Answer, few know, because MHI, Clayton, Skyline-Champion, and Cavco fail to SAY the total number of sales of those units. The best guess, based upon the known data from the Government Sponsored Enterprises is that the total number of CrossMods sold would be in the double digits. The total is so embarrassingly low, they don’t say. In the meantime, from 2017 to 2022, roughly half a million manufactured homes have been produced. That could be some 0.0002 of the total new HUD Code manufactured homes produced in the past 5 years (Perhaps at best 100 CrossMods by all builders divided by roughly 500,000 manufactured homes = 0.0002). Embarrassing. What kind of ‘white paper’ leaves out such key facts that they would have? The relevance is that this goes to the point that the White Paper is a thinly veiled push of CrossMods.
- 5. Without providing hard numbers (data), MHI itself finally admitted in writing that CrossMods were being eschewed by developers. The reasons, they said, was problems with appraisals.
- 6) Ignored by Clayton-NextStep are concerns raised about CrossMods by MHARR.
- 7) Also ignored by Clayton-NextStep on the problem plagued CrossMods scheme is the heads up linked below this publication gave to industry professionals not long after the project was announced. MHProNews flatly said that the ‘new class of manufactured homes’ could turn out to be a Trojan Horse for the industry. Years later, that prediction has proven to be true.
- 8) These examples and linked information make some of Kevin Clayton’s statements in that video to be deceptive at best, perhaps mendacious misdirection at worst. Calling his remarks paltering is to be polite.
- 9) Nearly a year after MHLivingNews published this report, Clayton and Next Step provided the ‘definitions’ which MHI says they are attempting to get the AP Stylebook to publish as guidance for reporters.
- 10). LendingTree doesn’t use modular homes as an example, yet the example given by Clayton-NextStep in their white paper is of a modular housing unit, not a manufactured home. Deception and misdirection anyone?
- 11). There are more points that could be made, such as about financing. But these 11 bullets, with numerous more examples found from linked reports, are sufficient to demonstrate that their White Paper is an apparent set of hits and misses that is arguably unreliable for the reasons shown, unless someone with expertise decodes the reality by sifting out the deception and misdirection from the realities. The hot linked remarks below on the federal FHFA Listening Session web page featured this writer’s comments provided live. It shows in a concise format just how pathetic the efforts are to ‘promote’ the industry by its so-called MHI connected ‘leaders.’
https://www.fhfa.gov/Media/Documents/Kovach-statement.pdf
Which brings us to Part II B.
B.
As was outlined in the preface, Clayton has in the Berkshire era has demonstrably deployed paltering, posturing, deception and misdirection. The reason for doing so is apparently to consolidate the industry without triggering antitrust action.
need to wait years for legislation that in the past has often led to little or no discernable benefit. https://www.wnd.com/2021/05/solution-big-tech-oligarchs/
In testimony to Congress, Kevin made the following remarks, per a document obtained from House Democrats provided to MHProNews. The document posted from that page is under the MHI letterhead. Recall that a Manufactured Housing Executives Council (MHEC) said the following about Clayton a few years ago.
When someone wonders why Clayton, ‘the Big Three,’ and a relatively modest number of large, manufactured home community (MHC) consolidators carry so much weight with MHI and/or state associations, keep the above and what follows in mind. It is a simple matter of following the money and all of the known evidence.
Clayton’s testimony to Congress included this statement. While the numbers of lost retailers is said to be significantly higher than Clayton said, the broad point that thousands of business locations were lost in the first decade of the 21st century must be kept in mind. Note those losses of businesses occurred well before the so-called Great Recession and the mainstream housing-economic crisis. That
Notice: the graphic below can be expanded to a larger size.
See instructions below graphic or click and follow the prompts.
What might be an apt example of ‘sabotaging monopoly tactics’ whose history in manufactured housing has been explored by James A. “Jim” Schmitz and his fellow researchers is apparently in evidence. Subtle to bold steps of action, inaction, or not doing some obvious step properly or timely might need to be carefully explored. When it is, what ought to be an environment for robust growth during an affordable housing crisis that Congress twice supported in about 23 years with favorable legislation must be examined. What emerges is an apparent result that industry underperformance led to consolidation that may have eluded the scrutiny of antitrust and other regulators. Underperformance, throttling access to capital, resulted in manufactured housing’s poor 21st century performance history. Lurking in the background are the fingerprints of Clayton, Berkshire, and some of their consolidation focused industry allies. When smaller firms can’t access competitively capital, those who have it tend to survive. Those who can’t, don’t survive. That said, the dramatic shift in market share from the 2003 graphic above to the one in 2018 shown below illustrates the fruits of this strategy.
After studying information such as the reports found linked from this report, Samuel Strommen came to the following conclusion.
Perhaps the most recent example of how deception and misdirection has operated in MHVille is the DOE Energy Rule issue.
Manufactured housing is demonstrably being steadily consolidated. Innovation is being eschewed as a partial result. That is a common outcome from oligopoly or other types of monopolization, be it outside of manufactured housing, or within.
This report began with this remark.
- Preface: something can have true remarks and nevertheless may be misleading.
The reason that matters, in or beyond manufactured housing, is paltering, deception, misdirection, and other forms of manipulative misinformation is deployed for specific purposes. It is routinely to keep someone out of trouble, or to get some party something they may not get if they were being honest. Don’t take this platform’s ‘word’ for it, look to the remarks by people like Warren Buffett. Buffett said it, bad guys no more games.
Enough said on this so-called Clayton Homes-Next Step ‘white paper’ for today. Note: MHProNews asked MHI’s outside media contact about their lawsuit. So far, no response. That same inquiry invited feedback on other topics. Again, no response. ##
Part III. Daily Business News on MHProNews Markets Segment
The modifications of our prior Daily Business News on MHProNews format of the recap of yesterday evening’s market report are provided below. It still includes our signature left (CNN Business) and right (Newsmax) ‘market moving’ headlines. The macro market moves graphics will provide context and comparisons for those invested in or tracking manufactured housing connected equities.
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 evening of 2.15.2023
- Hiring or firing?
- The confusing job market is making traders’ heads explode
- You’ve been laid off. Here’s what to post on social media, and what to leave out
- Charlie Munger still likes big banks and hates crypto
- Nissan recalling 404,000 vehicles for steering wheel badge that can fly off in a crash
- Airbnb shares soar as first annual profit is another sign of travel rebound
- Home builder sentiment sees biggest monthly jump since 2013
- Retail sales jumped by 3% in January, the biggest gain in nearly two years
- FAA chief gets grilled by Congress for recent airline groundings and safety concerns
- Elon Musk donated $1.9 billion of Tesla stock to charity last year
- Lufthansa says flight operations ‘stabilizing’ after IT outage
- Barclays shares plunge 10% as profit falls
- Senators blast Big Tech companies over kids’ safety amid renewed push for legislation
- Cleveland Clinic to open its third London facility as Brits flock to private health care
- FAA to conduct sweeping safety review after multiple incidents
- Tuesday Morning files for bankruptcy
- Turkey’s stock market soars as government steps in after earthquake
- Olaplex sued for allegedly causing hair loss and bald spots
- Elderly protest health insurance cuts in China’s Wuhan
- Elon Musk wants to find someone to replace him at Twitter by year-end
- Can frozen Russian assets be used to rebuild Ukraine? The EU is considering it
- Warren Buffett’s company sells major stake in Taiwanese chip giant TSMC
- National security warning now a part of Hong Kong land sales
- US regulator orders crypto firm to stop minting Binance stablecoin
- DirecTV blasts Newsmax for pushing ‘inaccurate and misleading’ attacks after the right-wing network was dropped
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Headlines from right-of-center Newsmax 2.15.2023
- House Judiciary Subpoenas Big Tech CEOs Over Free Speech
- S. House of Representatives Judiciary Committee Chairman Jim Jordan on Wednesday subpoenaed the chief executives of Alphabet, Amazon, Apple, Facebook and Instagram parent Meta Platforms, and Microsoft for documents and communications relating to free-speech issues. [Full Story]
- DirecTV Censors Newsmax
- Steil: DirecTV Censorship ‘Worthy of a Review’ | video
- Alina Habba: Newsmax Removal ‘Needs to Be Investigated’ | video
- Biden FCC Nominee: ‘Very Troubled’ by Newsmax Cut | video
- Spartz: DirecTV, Monopolies Will Turn US Into ‘Oligarchy’
- Sarah Palin: ‘Obvious’ Censorship From DirecTV | video
- John Moody: Dying DirecTV Can’t Justify Action | video
- Trump: ‘Disgrace’ For AT&T to Censor Newsmax | video
- Blackburn: Providers, Change Course on Censorship | video
- Guest: Conservatives, ‘Close Pocketbooks’ to AT&T | video
- Fred Fleitz: ‘Standing Up’ to AT&T | video
- Lawler: ‘Critically Important’ to Restore Newsmax | video
- Biggs: Authoritarian Govt Starts With Censorship | video
- More Stories on AT&T DirecTV Censorship
- Newsmax TV
- Ex-AG Whitaker: Too Late for Clapper to ‘Find Religion’ on Laptop
- Ex-AG Whitaker: Too Late for Clapper to ‘Find Religion’ on Laptop | video
- Mark Morgan: Biden ‘Shell Game’ With Border | video
- Ohio Resident: I Permanently Left Home After Train Spill | video
- Davidson: After Train Crash Silence, Buttigieg Must Go | video
- Lankford: WH Couldn’t Answer ‘Basic Questions’ About Aerial Objects | video
- Pollster: Haley Must Focus on Issues, Not Gender | video
- Bergman: Congress Demands Info on Downed Objects | video
- Newsfront
- Report: 500,000 People Left California in 2 Years
- California’s population dropped by more than 500,000 in the two years after the COVID-19 pandemic began, the Los Angeles Times reported…. [Full Story]
- Trump Blasts Nikki Haley on Medicare, Social Security
- Former President Donald Trump did not waste any time sizing up the [Full Story]
- Actress Raquel Welch, Sex Symbol of 1960s, Dead at Age 82
- Raquel Welch, the film actress whose sultry, curvaceous looks made [Full Story]
- Biden May Give Speech on Balloon, Unidentified Objects
- President Joe Biden and his team are considering him giving a speech [Full Story]
- Related
- Biden’s UFO Secrecy Fueling ‘Distrust’ |Platinum Article
- Why Have US, Canadian Forces Failed to Recover Downed UFOs? |Platinum Article
- Report: US Tracked Chinese Spy Balloon’s Unexpected Path From Launch
- Lankford to Newsmax: WH Couldn’t Answer ‘Basic Questions’ About Aerial Objects |video
- D. Gov. Noem Tests ‘Stop China Now’ Issue For GOP In ’24
- In what seemed to be a dress rehearsal for the issue of stopping [Full Story]
- Russia Reports Battlefield Advances as Ukraine Urges Faster Military Aid
- Russia said on Wednesday its troops had broken through two fortified [Full Story]
- Related
- Ukraine Claims It Shot Down Russian Balloons Over Kyiv
- Report: Russia Has Held 6,000 Ukrainian Children for ‘Reeducation’
- Switzerland: Confiscation of Russian Assets Unconstitutional
- Report: US Might Send Seized Weapons, Ammo to Ukraine
- UN Agencies Seek $5.6B to Help Ukraine, Its Refugees Abroad
- UK Defense Secretary: Russia Has 97 Percent of Armed Forces Deployed in Ukraine
- Death Toll of COVID Wave in China Debated
- Despite a recent viral surge that occurred after China ended its [Full Story]
- Gallup Poll: Half Say News Media Deliberately Mislead
- Half of Americans believe that national news media deliberately [Full Story]
- DOJ Declines to Charge Gaetz in Sex Trafficking Probe
- The Department of Justice will not charge Rep. Matt Gaetz, R-Fla., in [Full Story]
- Study: Improving Nutrition of School Lunch Can Reduce Obesity
- A 2010 federal law that boosted nutrition standards for school meals [Full Story]
- Musk Warns, AI ‘One of the Biggest Risks to Civilization’
- As artificial intelligence grows increasingly advanced but remains [Full Story]
- Justice Escalates Apple Probe
- Justice Escalates Apple Probe
- The U.S. Justice Department has in recent months escalated its [Full Story]
- DeWine: Norfolk Will ‘Pay’ for Train Derailment
- Ohio Republican Gov. Mike DeWine vowed to hold Norfolk Southern [Full Story]
- SEC Weighs Cryptocurrency Rules
- The Securities and Exchange Commission Wednesday adopted rules [Full Story]
- US Manufacturing Output Surges in January
- Production at U.S. factories rebounded in January, but output in the [Full Story]
- Home Builder Confidence Persists
- Confidence among U.S. single-family homebuilders improved for a [Full Story]
- COVID Infection Increases Risk for Diabetes in Unvaccinated
- A COVID infection appears to drive up diabetes risk, new research [Full Story]
- The Risks of Bird Flu to People and Animals
- Countries ranging from the United States and Britain to France and [Full Story]
- House Judiciary Subpoenas Big Tech CEOs Over Free Speech
- S. House of Representatives Judiciary Committee Chairman Jim Jordan [Full Story]
- WHO Maintains Public Health Emergency Alert for Mpox
- The World Health Organization (WHO) on Wednesday said mpox remained a [Full Story]
- Schumer to Visit Israel Over Judicial Overhaul Plan
- Amid the political upheaval in Israel over the judicial overhaul [Full Story]
- FDA to Vote on Making Opioid Antidote Available Without Prescription
- S. health advisers on Wednesday were weighing whether the [Full Story]
- West Virginia University Suspends Woke Tenure Proposal
- West Virginia University officials suspended a controversial proposal [Full Story]
- IRS Nominee: No Audit Boost for Households Under $400,000
- President Joe Biden’s nominee to run the Internal Revenue service [Full Story]
- Hageman Endorses Trump: ‘1 of Best Presidents’
- Harriet Hageman, R-Wyo., who defeated Liz Cheney in the [Full Story] | video
- Trump: DeSantis Would Be ‘Dead in Politics’ Without Me
- Former President Donald Trump insists he did not tell Ron DeSantis to [Full Story]
- Club for Growth Endorses Sen. Rick Scott for Reelection
- A leading Republican super PAC endorsed Sen. Rick Scott, R-Fla., for [Full Story]
- Retail Sales Jump as Americans Defy Inflation and Rate Hikes
- America’s consumers rebounded last month from a weak holiday shopping [Full Story]
- Obama’s Former Doctor: Expect WH to ‘Sugarcoat’ Biden’s Physical Report
- The longtime former doctor of 44th President Barack Obama said that [Full Story]
- Forecast: Streaming Tops Traditional TV in US This Year
- For the first time ever, U.S .adults will spend more time this year [Full Story]
- Philippines, US to Hold Biggest War Games in Years
- The Philippines and the United States will this year carry out their [Full Story]
- House Judiciary Subpoenas Big Tech CEOs Over Free Speech
- House Judiciary Committee Chairman Jim Jordan on Wednesday subpoenaed the chief executives of Alphabet, Amazon, Apple , Facebook and Instagram parent Meta Platforms, and Microsoft for documents and communications relating to free-speech issues.Jordan and other conservatives…… [Full Story]
- Stellantis Recalls 340,000 Ram Trucks
- Bryan Steil: Unleashing US Energy Best Way to Fight Russia
- Ford Extends F-150 EV Production Halt Through Next Week
- KPMG First Big Four Accounting Firm to Cut Staff
- More Finance
- Health
- The Health Benefits of Your Valentine’s Day Chocolate
- Giving dark chocolate to our sweetheart on Valentine’s Day may be a win-win situation both emotionally and physically. Chocolate with a high cocoa content is quite nutritious. It contains fiber, iron, magnesium, and copper as well as 98% of the manganese you need daily,…… [Full Story]
- How to Switch Off Your Work Brain
- Study: COVID-19 Infection Increases Heart Attack Risk in Young Adults
- Living Near Busy Road Increases Risk of Developing Eczema
- US Proposes Medicare, Medicaid Programs to Cut Drug Costs, Including $2 Generics
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Updated
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- NOTE 1: The 3rd chart above of manufactured housing connected equities includes the Canadian stock, ECN, which purchased Triad Financial Services, a manufactured home industry finance lender.
- NOTE 2: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).
- NOTE 3: Deer Valley was largely taken private, say company insiders in a message to MHProNews on 12.15.2020, but there are still some outstanding shares of the stock from the days when it was a publicly traded firm. Thus, there is still periodic activity on DVLY.
- Note 4: some recent or related reports to the REITs, stocks, and other equities named above follow in the reports linked below.
-
2023 …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.
Disclosure. MHProNews holds no positions in the stocks in this report.
· For expert manufactured housing business development or other professional services, click here.
· To sign up in seconds for our industry leading emailed headline news updates, click here.
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 MHProNews.
Tony earned a journalism scholarship along with numerous awards in history. There have been several awards and honors and also recognition 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.
