CNN ran a story this week about a series of modular highrises that could go up beside Atlantic Station in the heart of Brooklyn. The resulting 32-story, 6,000 unit complex would be the tallest modular structure in the world. While modular construction is not new, it hasn’t been used on …
From Cronkite News and other sources, MHProNews.com learns of testimony provided by Manuel Santana, the director of engineering at Cavco, who told congressional lawmakers that failure to implement the Manufactured Housing Improvement Act of 2000 has weighed heavily on the industry. “Due to the inability of the HUD Code to …
MHI, Others Tell Lawmakers Slow Moving HUD Hurts Industry Read More
The Manufactured Housing Association for Regulatory Reform (MHARR) reports that a House of Representatives subcommittee, reacting to a nearly 90 percent decline in manufactured housing production over the past decade, recently questioned officials of the Department of Housing and Urban Development (HUD) at a February 1, 2012 hearing on the …
MHARR: Congress Zeros in on HUD’s Failure to Implement 2000 Reforms Read More
This week provider of manufactured home loans, Community West Bancshares, parent company of Community West Bank, reported a loss of $8.6 million in the fourth quarter ended December 31, 2011 (4Q11) compared to net income of $1.1 million in the fourth quarter a year ago (4Q10). The company says quarter …
Community West Bancshares Reports Fourth Quarter and Year End Results Read More
From Canada and Nunatsiaq Online, MHProNews.com has learned the business arm of the Kivalliq Inuit Association, Sakku Investments Corp announced this week the company has signed a joint venture agreement with ATCO Structure and Logistics, a firm that specializes in workforce housing. The new company, Sakku ATCO Buildings and Services, …
Mortgage applications decreased 2.9 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey. The Market Composite Index, a measure of mortgage loan application volume, decreased 2.9 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the …
Stocks closed higher Wednesday with positive data on manufacturing pushing the Dow up more than 100 points mid-day. The Yahoo Finance Manufactured Housing Composite Index ended the day up nearly three percent. Manufactured housing stocks enjoying hump day gains include Allied Management Group, up $2.90 (2.89 percent) to $103.41. Clayton …
From Politico we learn more about an effort by House Republicans to pass a 20 percent tax cut for small businesses that employ fewer than 500 people. The plan, Majority Leader Eric Cantor wrote to GOP lawmakers in a memo, “is focused on helping small businesses grow and giving all …
Economic activity in the manufacturing sector expanded in January for the 30th consecutive month, and the overall economy grew for the 32nd consecutive month, say the nation’s supply executives in the latest Manufacturing ISM Report On Business. The report was issued today by the Institute for Supply Management Manufacturing Business …
From Housingwire, MHProNews.com learns that the homeownership rate is now at 65.5 percent, a new low. The last time the rate was that low was 1997. Also from the report, vacant units that were held off market comprised 5.4 percent of the total housing stock. Of these, 1.7 percent were …
With the explosive growth in the demand for quarters and camps for the oil and gas industry, Ramtech Building Systems of Mansfield, Texas announced recently that the company is expanding their existing line of product offerings to provide additional modular buildings that will meet the rigors of working in remote, …
Ramtech Building Systems Adds New Breed of Modular Read More
A student-led team from the University of Calgary has been chosen to take part in the U.S. Department of Energy Solar Decathlon for the third consecutive time, pitting its unique housing concept against another Canadian team and entries from across the United States and around the world. Team Alberta’s concept …
University of Calgary Begins Work on Solar Modular Read More
The Dow finished the last day of the week 74 points lower, on news that the U.S. grew at a slower pace than expected in the fourth quarter. The Yahoo Manufactured Housing Composite Index added one percent, and most watched stocks fell in line. Among those manufactured housing and related …
From Ontario and the Daily Commercial News, MHProNews.com learns about a new modular housing complex utilizing shipping containers. Unlike many projects, the units here do not look like shipping containers. Toronto developer InvestorCentric Inc. used the containers as the basis for two multi-family buildings. According to the report, the containers’ …
Shipping Container Complex Could Rise in Just 11 Days Read More
From the Telegraph in Alton, Illinois, MHProNews.com learns that rezoning of a mobile home community there has been denied. According to the report, proponents said rezoning Stone Meadows Mobile Home Park from B-3 (highway business) to R-6 (manufactured home district) would have allowed developer USA Wealth Partners to make improvements …
A recent survey from MetLife provides some insight into generational views on housing and finance. According to the survey, Multi-Generational Views on Family Financial Obligations, most do not believe parents have a fiscal responsibility to help their adult children buy a home. Just 12 percent of Baby Boomer parents say …
From NorthJersey.com, MHProNews.com learns that residents of Finn’s Mobile Home Park are trying to raise their homes after last year’s floods, but the process is being held up by stop work orders from the township. The township requires surveyor’s reports and architectural drawings that are costing residents hundreds of dollars. …
The idea for an REO rental program could soon provide additional competition for the manufactured housing industry. Panelists at the recent American Securitization Forum expressed support for a government-led program to rent out foreclosed Fannie Mae, Freddie Mac and FHA homes. According to an article in Housingwire, the foreclosure pipeline …
The Dow rose along with many manufactured housing stocks Wednesday as the Federal Reserve signaled low rates through at least late 2014. Futures began in the red but fortunes changed with the Fed announcement. The Yahoo Finance Manufacture Housing Composite ended hump day up more than five percent. Those stocks …
In his State of the Union Address Tuesday, President Barack Obama proposed a mortgage refinance program to help homeowners take advantage of the current low interest rates. The president says he is sending Congress a plan that gives every responsible homeowner the chance to save about $3,000 a year on …
