Nationwide housing starts rose 14.6 percent to a seasonally adjusted annual rate of 596,000 units in January, according to figures released by the U.S. Commerce Department Wednesday. The gain was entirely due to a 77.7 percent increase in the multifamily sector, where significant month-to-month swings in activity are not unusual …
Multifamily Construction Boosts Housing Starts in January Read More
Residents of Park Plaza Estates in Fridley, Minnesota now own and control their 90-home manufactured home community. The homeowners came together, formed a cooperative and purchased their community from the previous investor ownership entity. This group of homeowners will join the other 1,000-plus resident-owned communities across the United States. Of …
Minnesota Adds Resident-owned Manufactured Home Community Read More
Weak retail trade in January drove the Dow down 0.34 percent to close at 12,226.64. After dropping nearly 16 percent yesterday, Palm Harbor Homes rebounded to close up 37.50 percent. Cavco lost 0.38 percent and Nobility Homes was down 0.24 percent. The Manufactured Housing Composite Value lost 1.91 percent.
According to Bloomberg News, the U.S. Small Business Administration faces a 45 percent cut in funding under the President’s budget request. Bloomberg reports that while the budget would back $27 billion in loan guarantees for small business, administrative spending and funds for Small Business Development Centers would be cut.
Housingwire reports that thanks to the falling dollar, the recently formed State of Texas Real Estate Fund LP announced plans Tuesday to raise $150 million from international investors for the purpose of acquiring distressed office and industrial properties, as well as land. The fund is hunting for high-quality distressed properties …
Falling Dollar Helps Drive International Investments in Lone Star State Read More
The Manufactured Housing Association for Regulatory Reform (MHARR) sent out notice that the HUD proposed rule to amend Subpart I (Consumer Complaint Handling and Remedial Actions) of the Procedural and Enforcement Regulations was published in the Federal Register on February 15. MHARR says it is important to carefully review this …
According to the Manufactured Housing Institute (MHI) Week in Review, MHI-PAC will host a fundraising luncheon for Senator Olympia Snowe (R-ME) on Feb. 16. Representative Snowe is a key Member of the Finance, Commerce, Small Business and Entrepreneurship Committees and a friend of the industry. Senator Snowe has been a …
MHI-PAC to Host Senator Olympia Snowe of Maine Today Read More
Drew Industries, a leading supplier of components for recreational vehicles (RVs) and manufactured homes, recently reported net income for the fourth quarter ended December 31, 2010 of $3.1 million, or $0.14 per diluted share, compared to net income of $2.9 million, or $0.13 per diluted share in the fourth quarter …
Special interests may or may not prevail in the fight to end or limit the mortgage interest deduction, but it seems clear they’re ready for a good fight. In a recent article on CNNMoney, Jerry Howard, chief executive of the National Association of Home Builders (NAHB) called the effort an …
Nixing the Mortgage Interest Deduction Faces Strong Opposition Read More
Disappointing earnings news had stocks ten points lower Thursday, while the Manufactured Housing Composite Value rose 1.4 percent. Cavco closed higher by more than one percent and Skyline Corporation enjoyed a 3.6 percent gain. On the downside, Nobility Homes and Universal Forest Products were down more than three percent.
CNET News reports that modular classrooms for public schools may move beyond the temporary to a more permanent status. The Bolsa Knolls Middle School in Salinas, CA is made of almost entirely recyclable materials, and exceeds the California Title Energy Code by 30 percent. Built by American Modular Systems, the …
Modular School Buildings in California from Recyclables Read More
The Utah legislature is set to hear discussion on a proposed bill that would set up an arbitration mechanism between homeowners and community owners. This bill would charge community owners an annual $10 fee to fund a potential mediation process. Homeowners claim they are at the mercy of the community …
Delaware House Bill 392, enacted in July 2010, requires a manufactured housing community to have a community center available for its residents. As reported in the DelawareOnLine News Journal of February 9, in an August 2010 meeting with state legislators, a homeowners association (HOA) president claimed his community did not …
In a January, 2011 online poll of 2,079 adults over 18, conducted by Harris Interactive on behalf of Trulia, the real estate search engine, 70 percent still view home ownership as being part of their American Dream, and 78 percent think their home is the best investment they have ever …
The Small Business Jobs Act of 2010 mandates that as of Jan.1, 2011, independent landlords must file IRS Form 1099 for transactions totaling more than $600.00 in a year. In addition, according to a report from the National Association of Home Builders (NAHB), beginning in 2012 all businesses will be …
HousingWire reports that 30-year, fixed rate mortgages hit 5.05 percent last week, the highest they’ve been since April of 2010. The rate one year ago was 4.97 percent. According to Freddie Mac’s Primary Mortgage Market Survey, rates for a 15-year FRM increased from last week to 4.29 percent, up from …
After a day in the red, the Dow managed to close up six points Wednesday, marking the eighth straight day of gains. The fate wasn’t the same for the Manufactured Housing Composite Value, which lost more than three percent. The largest losses were recorded by Cavco, which closed down more …
Net income for this provider of manufactured homes and RV’s jumped nearly 13 percent to $38.4 million over 2009 despite the economic downturn. According to Medill Reports, this Chicago-based real estate investment trust (REIT), which has a controlling interest in over 300 North American resorts comprising more than 10,000 home …
The Credit Union Times reports that San Antonio Federal Credit Union Chief Operating Officer Stephen S. Hennigan has been named president of the credit union. The Trade Journal says Hennigan has been credited with being integral in helping create Credit Union Factory Built Lending, a credit union service organization (CUSO), …
According to the Manufactured Housing Institute (MHI)’s Monthly Economic Report, just under 2,800 new single and double section HUD code homes were shipped in December 2010, down 22.2 percent from the previous December. On the year, total shipments numbered 50,046 as compared to 49,789 for 2009. Total floors shipped in …
