New conventional housing construction is reportedly rebounding in March 2023, even as manufactured home production and shipments have dropped sharply in February per the latest data. The nosedive of manufactured housing production and shipments have been transparently reported by the Manufactured Housing Association for Regulatory Reform (MHARR). By contrast, the Manufactured Housing Institute (MHI) has no visible monthly report on manufactured housing production or shipment on their website but do for “members only” behind a login. Of course, MHProNews have extensively reported the manufactured housing faithfully every month. MHLivingNews has periodically noted the trends too. A check of weeks of posts by ‘wannabe’ rivals to MHProNews/MHLivingNews on this date reveals only one site that mentions the declining sales of HUD Code manufactured housing among those apparently pro-MHI bloggers/trade publications. That will be the subject of a special report planned for later this week. With that preface and programming note, Part I of this article will provide a snapshot of the latest data from the National Association of Home Builders (NAHB), links up the update recently posted on facts from the National Association of Realtors (NAR), and gives a video overview by left-leaning CNBC. Part II of this report will provide more facts including an array of insights from others in manufactured housing trade media, plus related MHProNews editorial analysis and commentary.
Part I
According to the NAHB: “Sales of new single-family homes grew 9.6% in March to an annual rate of 683,000, 3.4% below the pace a year ago. The median price of new homes sold last month was $449,800 compared to $435,900 a year ago.”
Sales of new single-family homes grew 9.6% in March to an annual rate of 683,000, 3.4% below the pace a year ago. The median price of new homes sold last month was $449,800 compared to $435,900 a year ago.#realestate #economy #homesales pic.twitter.com/kUiZu1w3eZ
— NAHB 🏠 (@NAHBhome) April 25, 2023
Single-family built-for-rent housing provides an option to those seeking flexibility. To alleviate confusion about built-for-rent housing, NAHB’s Land Development Committee created “Renters by Choice: The Truth about Single-Family Built-for-Rent Housing.” https://t.co/oDmTa4ZN6S
— NAHB 🏠 (@NAHBhome) April 25, 2023
CNBC’s Diana Olick gave this pithy overview in her video report below.
MHProNews’ ‘read hot’ Sunday report and weekly recap gave the latest data from the NAR along with insights into a subject that ought to be banner news in MHVille reporting, but is stunningly not found elsewhere among rivals that seem to celebrate news about more consolidations and acquisitions, and the latest from MHI, as if those were the panacea to every industry woe.
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Part II Additional Information with More MHProNews Analysis and Commentary in Brief
Author Upton Sinclair insightfully noted that “It is difficult to get a man to understand something, when his salary depends on his not understanding it.” Sinclair’s insightful point is arguably not limited to salary, but also to other forms of income. Warren Buffett remarked that “Chains of habit are too light to be felt until they are too heavy to be broken.” An industry insider told MHProNews that this is ‘not a fighting industry’ in a still relevant report posted on MHProNews almost two years ago.
MHProNews also reported on MHI’s efforts to apparently dupe or mislead the industry on the paused DOE Energy Rule for manufactured housing.
The purportedly slippery, misleading, and deceptive remarks in a video and an interview of Kevin Clayton were exclusively unpacked here as others that claim to care about the industry and who assert that they report ‘news’ are seemingly ducking the hard realities of our profession.
One of those hard realities is, per a longtime insider with MHI, that the industry will never recover in our lifetimes. While that remark is not set in stone, it indicates that the powers that be are okay with the status quo for reasons indicated herein.
With those thoughts in mind, pivot back for a few moments to what Diana Olick reported in the video posted above on conventional U.S. housing trends. A few observations are warranted.
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- Note that CNBC’s Olick doesn’t even mention manufactured housing.
- A report by Olick on 12.21.2018 mentions manufactured housing – that reference was brief and near the end of that article. Based on the periodic spot-checks by MHProNews of her reporting on the U.S. housing market, mention of manufactured homes is an exception not the rule for her. Something similar could be said about many reporters handling of manufactured housing as part of the broader U.S. housing market discussion. Olick’s failure to routinely mention manufactured housing as part of a broader look at U.S. housing is commonplace.
- How can MHI, or pro-MHI bloggers and periodical publishers, claim to be ‘elevating the profile of the industry‘ – as MHI once more recently said – in the light of facts that demonstrate otherwise? How can they claim to “report” news – other than corporate or association cheerleading or remarks about mergers and acquisitions – when they fail to take a transparent public look at the cold, hard facts or trends such as production and shipments? How can an association that is supposed to represent “all segments” of the industry fail to engage mainstream media facts – such as monthly production data – are not reported by themselves or their apparent allies?
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- 4) A pro-manufactured housing researcher recently asked MHProNews to seek MHI’s engagement on an issue being problematically reported by mainstream media. That request by that researcher was declined by MHProNews for reasons given to that party. But it should be self-evident that MHI and their corporate board are at some level accepting or comfortable with the status quo of mainstream media coverage. After all, years have passed since MHI hired under Richard “Dick” Jennison a communications person that was supposed to engage the mainstream media. From time to time, Lesli Gooch, MHI’s CEO, and occasionally Mark Bowersox, MHI’s president will make some statement to the media or issue an op-ed via a third-party platform. But the metrics speak for themselves. When the industry is in its second extended downturn in 5 years, and each time that downturn followed an MHI announcement of “momentum” it is difficult to escape the conclusion that MHI leaders accept and/or desire the status quo. But why?
- 5) The answer appears to be consolidation, acquisitions, and mergers. There is more of that reported by publicly traded firms than there is organic growth. MHI does NOT make that statement openly. But some of their members have in their investor relations pitch decks or earnings calls. How MHI can ignore those facts is possible in part because the balance of what others self-describe as ‘industry news’ are little more than thinly veiled mouthpieces for MHI’s official narrative. That is stunning in the case of a platform that has several MHARR members, namely ManufacturedHomes.com. As attractive as their site is, a periodic check of their site seems to indicate that they given token attention to MHARR articles and seemingly more so to MHI. They are courting the big dollars and are willing to use the dollars of MHARR members to get them where they want to be. ManufacturedHomes.com has been listed as an MHI member.
- 6) The ejection of Tucker Carlson by Fox News has been attracting significant attention in recent days by mainstream media. The now former often top-rated cable news show, Tucker Carlson Tonight, does not yet appear to be due to some purported sex scandal as was alleged about the exit of Roger Ailes at Fox, or the departure of Bill O’Reilly, who was also the top man when he was shown the exit by that network. “The media is corrupt across the board. And I mean corrupt.” – So said bestselling author and now independent media star Bill O’Reilly to the Larry O’Connor Show on 4.26.2023. “The only ideology these corrupt moguls have is what is handed to the bank.” “My life is so much better than it was 6 year ago…[when Fox and O’Reilly parted] they did him [Tucker Carlson] favor.” No corporate BS. If that is true about much of what O’Reilly calls “corporate” media, why would Americans be surprised if there is a similar pattern at work in what passes for the manufactured housing industry trade media? The answer is obvious, but this report documents that pattern with evidence. The facts for years have revealed that there is an apparent “information war” or “info war” underway in America and in the manufactured home industry too. News is often more “narrative” than unbiased “news.” That narrative is routinely driven by an apparent or thinly veiled agenda.
- 7) It can’t be stressed enough that Warren Buffett led Berkshire Hathaway (BRK) owned dozens of publications. While those were sold, Berkshire still ‘holds the paper’ on those publications. Are we seriously to believe that if the industry wanted to be better understood that it could not have organized an educational and image campaign a decade or more ago?
Indeed, Kevin Clayton said over a decade ago that the industry was ready then to do an image and educational campaign. Which begs the question: why haven’t others in MH trade media hammered away at that same statement? Why is it that MHProNews/MHLivingNews stand alone on shedding light on these fact and evidence based concerns?
- 8) Put differently, there is evidence that shows that the industry’s leaders feign support for a better image but find the current environment useful to their actual objective. That objective is consolidation of the industry into ever fewer hands.
Note: This quote graphic was produced months ago, well before Robert F. Kennedy Jr.
announced as a candidate for the Democratic presidential nomination.
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How can MHI have the chutzpah to issue an antitrust statement when that ‘document’ is apparently more of a fig leaf?
- 9) The opposite of transparency is described by WordHippo as “opacity. cloudiness. opaqueness. turbidity.” The Capital Research Center (CRC) has a section of their website dedicated to the topic of “deception and misdirection.” A search for “deception and misdirection” on MHInsider, ManufacturedHomes.com, and George F. Allen’s self-described “Community Investor” site on this date each report non results. It is no surprise that MHI has “no results found” for a search for “deception and misdirection” as they are the apparent tip of the proverbial spear for corporate leaders to use in their campaign to often mislead the manufactured home industry through paltering, posturing, half-truths, and the like.
- 10) MHI leaders and attorneys were given an opportunity at the first of this week to respond to the report linked below. Some two days later, no known responses have been received.
Why This Matters to the Rank and File Members of the Industry
In an industry that is growing, opportunities increasingly abound. In an industry that is stagnant or in retreat, the opposite occurs, opportunities are often lost.
This isn’t just a matter of academic interest to the person who is getting a paycheck or earning commissions.
While manufactured housing is struggling, the recreational vehicle (RV) industry is several times the size it was in 1998. When the RV industry dips, it dips from a higher mark in most of the 21st century than manufactured housing.
RVs did their educational and market effort over two decades ago. They have kept it in place. Meanwhile, MHI leaders have talked about it off and on for decades. What do they have to show for it? The apparently failed fiasco known as CrossMods?
‘Lifetime achievement’ MHI award winner Marty Lavin’s name was not found on the MHI website on the date and time shown below. Why not? Is it because he is among the voices that said that CrossMods would go nowhere? Is it because he said that MHI’s failure with respect to the Roper Report was an embarrassment to MHI? But as the report linked below reflects, loyal MHI member Joanne Stevens is among those voices that have echoed remarks akin to Lavins, or those long reported by MHProNews/MHLivingNews – and virtually no one else in what passes for MHVille trade media.
That MHI leaders are still trying to push that rope up hill is arguably an insult to the intelligence of industry professional everywhere. It is a case study in “deception and misdirection.”
Why it Matters to Investors
Certainly, publicly traded consolidators have and can make the case that they are getting a good rate of return due in part to mergers and acquisitions. But the question must be asked. Could that rate of return be better still if more greenfield and organic growth was occurring?
There are indicators that the answer could – and should – be yes.
Frank Rolfe and Dave Reynolds are periodically providing commentary on mainstream news. That is worth a separate look. While they are not to be ignored in MHVille, they are not the focus of this report – because they are perhaps more transparently self-promoting than even George Allen is. Some insights on that follow.
The reason that antitrust legal departments exist at the state and federal level is because market manipulation is often harmful to consumers, investors, taxpayers, and the public at large. While the case can be made that the Biden regime’s antitrust efforts have proven to be more hot air than substance, nevertheless, the Biden White House Fact Sheet on competition presents some relevant insights on how throttling competition hurts many if not most Americans.
The case can also be considered if that is one of the reasons that Trump’s ouster was sought by the Civic Alliance and others in the corporate world. Whatever Trump’s faults, there were what looked to be serious antitrust efforts launched during his time in office.
“You Made Me, Promises, Promises…” Historic Iranian, American Lessons in Freedom
Added Facts and Summary
This vexing pattern of posturing, paltering, self-praise, circular-praise (one member of a group praising another), “deception and misdirection” has been increasingly apparent for the better part of a decade. MHI award winner Marty Lavin made the following still relevant remarks.
When Neal Haney and NAMHCO broke ranks with MHI they did so with these words.
There are likely good reasons why MHI, their attorneys, and several of their key corporate leaders decline remarks to MHProNews on such topics. What are they to say in the face of growing evidence? Can they effectively debate their success when the industry is in its 5th month of consecutive decline during an affordable housing crisis?
Go back to the Diana Olick video. Note that builders are finding ways to make their homes appear to be more affordable through buy downs. Olick indicated that some of those buydowns are temporary. The tone of her remarks suggested that some builders are expecting their homebuyers on temporary buydowns to refinance in the future when the rate goes up. But what if the rates go higher rather than lower? While the logic from a buyers vantagepoint may be flawed, those sellers are wiggling and jiggling to try to overcome drags on their market.
Where is the effort by manufactured housing industry leaders to expand the market?
There are several barriers to more manufactured housing.
- Zoning and placement. MHI claims to support the Manufactured Housing Improvement Act of 2000’s (MHIA or what MHARR calls the 2000 Reform Law) and its “enhance preemption” clause. Out of MHI, MHI ‘endorsed’ MHInsider, MHI member ManufacturedHomes.com, there are on this date ZERO references to “enhanced preemption” found on their respective websites, per their own site search tools. How can MHI claim to be ‘for’ implementation of “enhanced preemption” when they won’t mention it on their own website and won’t sue to get that aspect of federal law enforced?
- The same observation on no mention of “enhanced preemption” on the ManufacturedHomes.com or MHInsider website applies, per this check using their own site-search tool. The evidence for it is strong, but MHI and their media allies routinely have no reference to it at this time. By contrast, MHARR is consistent and persistent on this key issue that is limiting manufactured housing industry growth.
- While Allen’s blog does mention federal “enhanced preemption,” the most recent occurrence – per his site search tool – was over 6 years.
- By contrast, MHARR’s website has numerous references to it. MHARR mainstream media news releases routinely mention it.
- MHProNews and MHLivingNews have long led the charge for the full and proper enforcement of enhanced preemption since their respective founding. Hundreds if not thousands of mentions of it on our websites are but one example of what make us the undisputed leader in MHVille trade media accurate information, analysis and truly expert editorially commentary.
Restated, MHI and their surrogates are apparently engaged in a deception and misdirection campaign that fails to use its best and most logical tools to advance the industry. Their surrogates and leaders won’t publicly engage or debate these issues. How could they without being humiliated or embarrassed publicly?
That said, a special report is pending. It will shed fresh light on how the game of deception and misdirection is being played in MHVille. Watch for it, perhaps as soon as later this week. And as a closing note for this section, if MHI leaders opt to do what is correct, logical, and sincerely pivot, to the extent that they do what is right, they should merit that degree of praise. But until that time occurs, the status quo is arguably punishing investors, untold thousands of manufactured home industry employees working for MHI connected brands, the affordable housing seeking public, taxpayers, and others. If MHI’s leaders don’t change, there should be a series of state/federal formal investigation(s) and appropriate legal actions brought.
Part II began with the quote from Upton Sinclair: “It is difficult to get a man to understand something, when his salary depends on his not understanding it.” When someone applies “follow the money” trail to MHVille, insights emerge that might otherwise be missed. Additionally, Buffett’s remark about the “Chains of habit are too light to be felt until they are too heavy to be broken” apply as to why the industry is underperforming during an affordable housing crisis. Not to imply that Chris Stinebert was a perfect MHI president and CEO, but others have noted that since his departure, much has changed in the industry. See the linked and related reports to learn more. Watch for our planned new evidence-packed special report, coming soon. ##
PS: Kurt Kelley’s MHReview is not mentioned in the report above for several reasons. Among them? It is a quarterly publication, the others are more likely to publish once a week, or several times a month.
That said, among others in industry trade media, Kelley is the only one known to periodically present information in the form of news releases from MHARR as well as pitches by MHI. It is in that sense more ‘fair and balanced’ than any of the others, other than MHProNews/MHLivingNews.
Last for now, Kelley doesn’t claim to be about ‘news’ or accountability.
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.
Notice: MHProNews’ screen capture for Macro and Manufactured Housing Industry
Connected stocks failed on 4.25.2023. MHProNews regrets the error.
Headlines from left-of-center CNN Business – from the evening of 4.25.2023
- Growing pessimism
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2022 was a tough year for many stocks. Unfortunately, that pattern held true for manufactured home industry (MHVille) connected stocks too.
See the facts, linked below.
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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.
