Manufactured Home Industry Insider Trading Updates-Manufactured Housing Institute (MHI) Vertically Integrated Producers and Manufactured Home Community Operators; MHVille Facts-Evidence-Analysis
MHProNews uniquely spotlighted for some months in 2024 the insider trading that had been occurring among certain specific firms that happen to be publicly traded members of the Manufactured Housing Institute (MHI). What this report will do is update insider trading activities based on information from sources as cited, which are primarily from Nasdaq and Simply Wall Street. While questions can and should be raised, and will in part be addressed, in fairness there appears to be more of a mixed bag among several of these MHI member brands. Facts-Evidence-Analysis (FEA) will be approached as follows.
Part I will provide the snapshot from those sources.
Part II will provide additional information plus more MHProNewsAnalysis and Commentary.
Part I – Insider Trading Activities by Manufactured Housing Institute (MHI) Member Firms as Shown
1) Equity LifeStyle Properties (ELS) – click here or on the image below to see the image in a larger size. Note that during the months of 2025, there has been buying and selling by ELS insiders as shown.
2) Sun Communities (SUI) – click here or on the image below to see the image in a larger size. Note that during the months of 2025, there has been buying and selling by SUI insiders as shown.
3) Flagship Communities (MHC.U or MHCUF) – click here or on the image below to see the image in a larger size. Note that during the months of 2025, there has been buying by Flagship insiders as shown.
4) Cavco Industries (CVCO) – click here or on the image below to see the image in a larger size. Note that during the months of 2025, there has been selling and trades by Cavco insiders as shown.
5) Champion Homes (SKY) – click here or on the image below to see the image in a larger size. Note that during the months of 2025, there has been buying and selling by SUI insiders as shown.
Part II – Additional Information with More MHProNews Analysis and Commentary in Brief
1) MHProNews previously reported the following about Equity LifeStyle Properties (ELS). One may wonder if the reports below from 2024 had some influence on their insider purchases in 2025?
With respect to the first three MHI member firms (ELS, Sun, and Flagship) above. Two of the three (ELS and SUI or Sun) have been named in the multiple class action antitrust lawsuits that were launched in 2023. It is an open question why Flagship wasn’t named (see Frank Rolfe comment above), but more details on that may emerge as time moves on.
It should also be noted that William “Bill” Boor is one of those MHI board/corporate leaders that appears to be on both sides of key issues that are keeping the manufactured home industry underperforming. For example, Boor aptly said that HUD needs to routinely enforce the Manufactured Housing Improvement Act (a.k.a.: MHIA, MHIA 2000, 2000 Reform Act, 2000 Reform Law) and its “enhanced preemption” language. However, the logical follow up to those remarks are missing. See articles linked further below for examples.
As one of the apparently linked results, the consolidation of the manufactured home industry has continued at a steady pace. Who said? How about an AI powered analysis linked here that considered what numbers of MHI linked members, the evidence, and others had to say.
6) It is easier to peer into the remarks made by publicly traded firms such as vertically integrated Champion Homes (SKY), Cavco, ELS, Sun Communities, or Flagship than firms that are not publicly traded. The five firms above may be somewhat easier to discern their behavior that firms that are now part of a larger conglomerate, such as Berkshire Hathaway (BRK) owned Clayton Homes, 21st Mortgage Corporation, or Vanderbilt Mortage and Finance (VMF). But as the following articles detail, there is plenty of information available even for somewhat obscured information about those Berkshire owned brands.
7) There is an evidence-based argument to be made that the firms and their corporate leaders above pretty much control what MHI does or does not do. Not only have those 6 publicly traded firms shown have consistent representation on the MHI board of directors, but those firms’ public statements often seem to reflect the actual, as opposed to the posturing or lip service delivered, by MHI.
8) Anytime that something is boiled down to a few sentences or paragraphs, the risk is that nuance and important details are overlooked, downplayed or lost.
a) That said, for much of the 21st century, several (not all) key members the Manufactured Housing Institute (MHI) has behaved in an arguably duplicitous fashion that has been called a form of mendacity.
c) MHI has postured or paid lip service to getting the Manufactured Housing Improvement Act (MHIA, MHIA 2000, 2000 Reform Act, 2000 Reform Law) and its “enhanced preemption” provision.
d) MHI has posturedsupport for an image campaign that educates the public, investors, public officials, lawmakers, mainstream media, or others about the truths of modern manufactured housing.
e) MHI has postured opposition to predatory behavior by firms that are ironically often MHI members and/or MHI state association affiliate members.
f) MHI has duplicitously behaved and postured opposition to the manufactured housing energy rule as advanced by the Department of Energy (DOE).
g) While the Manufactured Housing Association for Regulatory Reform (MHARR) has led the charge in Washington, D.C. for consistent advocacy on such issues as are outlined above, and has so advised industry readers, MHARR is not strictly speaking a news platform, even though they carry their own news. Nor does MHARR claims, as MHI does, that they will give the industry the “full perspective” on “every aspect of the industry.” That’s pure nonsense, or BS as some might phrase it.
The latest news to give you a full perspective on the manufactured housing industry. From manufacturers to land-lease communities, retail to financial services, and suppliers to installers, we help you keep abreast of what’s happening in every aspect of the industry.
9)
from:
L. A. Tony K<latonyk@gmail.com>
to:
William “Bill” Boor @ Cavco.com (CVCO and MHI leader) investor_relations@cavco.com, Norman Ball @ cavco.com, Leo Poggione @ forahouse.com (Leo Poggione is the prior MHI chair and his location was purchased by Cavco-CVCO).
cc:
Gregory Palm @ craig-hallum (Palm has asked one of the few reasonably tough questions for Cavco Industries leaders during an earnings call. Per sources Palm and Craig Hallum monitor and read MHProNews. See linked report further below.) Lesli Gooch @mfghome.org (MHI CEO) David Goch @wc-b.com (long-time outside attorney for MHI).
Bill and others at Cavco and MHI,
You know the drill. Please email your reaction to the article involving Cavco and the Manufactured Housing Institute (MHI) published this morning. We plan to do a report on the Patch today, so a prompt response is valued.
Email your thoughts to my attention. No word limits. PDF attachments to document your statements are welcomed.
Thank you.
L. A. ‘Tony’ Kovach for MHProNews.
PS: While Cavco and MHI linked responses are welcome on any article we’ve published the specific article in question is the first one linked below.
Cavco’s Bill Boor has a fiduciary duty to both manufactured housing industry stakeholder and to CVCO shareholders too. They are arguably failing in both areas.
MHProNews Note depending on your browser or device, many images in this report and others on MHProNews can be clicked to expand. Click the image and follow the prompts. For example, in some browsers/devices you click the image and select ‘open in a new window.’ After clicking that selection you click the image in the open window to expand the image to a larger size. To return to this page, use your back key, escape or follow the prompts.
Note that in the emailed outreach above Greg Palm was included. See that report linked below. Will history repeat? Will Palm or a colleague of his ask tough, probing questions about MHVille and Cavco underperformance during an upcoming Cavco earning call? Time will tell.
10) MHProNews has documented time and again that it has repeatedly offered to discuss or debate these concerns. MHI’s response in recent years has been to posture more, spotlight some other item that seemingly deflects from the key issues that are discussed, outlined, or linked herein. MHI fails to be transparent via MHProNews despite the fact that MHI leaders for years praised MHProNews for accuracy, factual reporting, and sound analysis.
11) Candidly, MHI’s leadership, and that of several of their ‘leading’ members have a tough spot. Gemini was recently asked to create a plausible explanation for MHI’s behavior during much (not all) of the 21st century in the so-called Berkshire Hathaway era of the industry. Gemini did as asked. Gemini created plausible arguments, using MHI’s talking points, that might seem to superficially make sense. That said, Gemini concluded with these words.
Unambiguous Analysis:
It is a reasonable and evidence-based conclusion that the Manufactured Housing Institute (MHI) exhibits a pattern of stating its commitment to market growth while its actions and the business models of its dominant members, as reported and analyzed in the provided links, suggest a greater emphasis on consolidation and maintaining the existing market dynamics, which benefit from limited new supply due to regulatory barriers. The lack of significant progress in overcoming these barriers, despite the clear mandate of “enhanced preemption,” further supports the assertion that MHI’s efforts may be more focused on public relations and protecting the interests of its largest players within the current constrained market rather than actively pursuing the organic growth of the industry as a whole. This raises serious questions about whether MHI is truly fulfilling its stated mission to grow the market for manufactured housing.
12) The evidence that a proverbial legal noose is tightening around several of these corporate leaders that hold so much sway at MHI appears to be building and gaining momentum. As Blue Orca style reports and antitrust legal action seems to be building, it is a fair question if MHI’s leadership purported duplicity will have a legal reckoning.
IF MHI linked corporate leaders gain or find the cojones to address MHProNews/MHLivingNews raised concerns directly, count on this platform to so advise readers. Until then, it seems that MHI leaders may take certain behaviors as an indirect response to MHARR, MHProNews, MHLivingNews. See the linked reports to learn more on subjects that MHI has obviously not covered which means their claims about their news are clearly false.
Note: depending on your browser or device, many images in this report and others on MHProNews can be clicked to expand. Click the image and follow the prompts. For example, in some browsers/devices you click the image and select ‘open in a new window.’ After clicking that selection you click the image in the open window to expand the image to a larger size. To return to this page, use your back key, escape or follow the prompts.
Our son has grown quite a bit since this 12.2019 photo. All on Capitol Hill were welcoming and interested in our manufactured housing industry related concerns. But Congressman Al Green’s office was tremendous in their hospitality. Our son’s hand is on a package that included the Constitution of the United States, bottled water, and other goodies.
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.
