A research note issued to investors by equities research analysts at Citigroup reiterated its “buy” rating for Drew Industries, Inc. stock, with a $51.00 target price according to intercooleronline.com. Shares of Drew traded down -0.78% on Thurs., Aug. 7, closing at $42.21. Drew has a one-year low of $40.38 and …
The Tennessee Republican state legislative races are pitting tea party activists against traditional conservatives in select districts, generating over $300,000 in super PAC spending, according to timesfreepress.com. “It’s a fight for the heart and soul of the Republican Party,” declared Rep. Tony Shipley, R-Kingsport, a tea party candidate who was …
Homeownership in the U. S. continues to fall, hitting 64.7 percent, a level not seen in almost 20 years, and according to housingwire.com, the trend is not expected to reverse any time soon. Home price appreciation has been driven by investors buying up homes, not owner-occupant homes. Usually, as MHProNews …
A record-breaking crowd of 444 witnessed the Class of 2014 being inducted into the RV/MH Hall of Fame in Elkhart, Indiana, beating the previous record of 434 attendees. The Class includes: Debbie Brunoforte, Little Dealer, Little Prices; Bob Livingston, Good Sam; Peter B Orthwein, Thor Industries; John D Roba, Roba …
RV/MH Class of 2014 Inducted at Record-breaking Ceremony Read More
Renewed fears that Russia may invade Ukraine, as Russian troops mass on the Ukrainian border, sent the three major indexes down in today’s trading, dropping the Dow Jones Industrial Average -139.81 points, -0.84 percent, to end the day at 16,429.47, while the Nasdaq dropped -31.05 points, -0.71 percent, to close …
LPX Falls over Six percent; Russian War Fears Drops Dow, Nasdaq and S&P Read More
Mortgage Bankers Association’s (MBA) Mortgage Credit Availability Index (MCAI) reports mortgage credit increased 0.5 percent from 115.8 in June to 116.4 in July, 2014, according to worldpropertychannel.com. Benchmarked at 100 in March 2012, an index increase indicates credit is loosening while a drop in the index notes tightening of credit. …
Net sales of $322 million (a quarterly record) for Drew Industries, Inc. in the second quarter of 2014 produced net income of $18.6 million, or $0.77 per diluted share, a 12 percent increase over net sales for the same period of 2013 which produced net income of $15.9 million, or …
While the Joplin, Missouri City Council continues to let contracts for onging infrastructure rebuild as the result of the horrific destruction of the May 22, 2011 tornado that took 158 lives, it also voted unanimously to approve historic designation for a Lustron house in the city. The metal-paneled modular homes …
Freddie Mac’s mid-year multifamily outlook reports vacancy rates are at a 13-year low, and that trend will continue through 2015, says Steven Guggenmos, Senior Director, Multifamily Investments and Research at the government-sponsored enterprise (GSE). He tells MHProNews the strong demand in part is due to employment gains among young adults. …
According to a new study by the National Association of Home Builders (NAHB), for every $1,000 increase in the cost of a new median-priced home, 206,000 more prospective buyers are forced out of the marketplace. Among the states, the number of households that would no longer qualify for a mortgage …
Each $1k Rise in Home Price Equals 200k fewer Buyers Read More
Patty Hydock closed her modular home sales center in Egg Harbor City, New Jersey in 2006 on the eve of the housing bubble, but re-opened Jersey Coast Modular Homes eight years later following another disaster, Hurricane Sandy, that created a need for housing. Hydock had eleven good years of buying …
With investors’ concern that the market was undergoing a correction last week—defined as a ten percent or more drop from a recent peak—fading, all three major indexes rebounded in today’s trading, although not totally making up for last week’s losses. The Dow Jones Industrial Average gained +75.91 points, +0.46 percent, …
Drew, Skyline, UFPI Lead Advances; Dow, Nasdaq and S&P Move Up as well Read More
MHProNews has learned from the Manufactured Housing Association for Regulatory Affairs (MHARR), statistics released by the Department of Housing and Urban Development reveal production of HUD Code homes grew 5.3 percent in June 2014 over last June, 5,624 homes over 5,338. Industry production for the year now totals 30,675 homes, …
Rick Robinson, General Counsel in Governmental Affairs at the Manufactured Housing Institute (MHI), congratulates Brad Lovin, Executive Director of the North Carolina Manufactured and Modular Homebuilders Association (NCMHA), on working to reduce the sales tax on manufactured and modular housing by half in NC. The amendment is attached as a …
In South Africa a proposal for modular, affordable housing involves filling a recyclable, lightweight plastic mould shaped into the form of a house with a government-approved mortar for the walls after the plumbing and electricity are installed, and the windows and doors are configured. The mortar dries within one day …
The Holly Village Council in Michigan has voted unanimously to install a master water meter to service Holly Village and Hawaiian Gardens manufactured home communities (MHCs), both owned and operated by Sun Communities, Inc., as MHProNews has been informed. Sun is responsible for distribution to the individual homesites, each with …
Seven weeks after an EF-4 tornado tore through Pilger, Nebraska, destroying 80 percent of the town, the first home going up is a modular for town clerk Kim Neiman and husband Ted. Ray Stahla of Stahla Homes in Norfolk, NE says he has two or three others interested in putting …
Encore Wire Corporation (Nasdaq:WIRE) is building a 250,000 square-foot addition to its existing aluminum manufacturing plant at McKinney, Texas, at a cost of $40 million plus, which includes upgrades to the entire complex, according to wsj.com. Encore offers a broad range of interior wiring for manufactured housing as well as …
Although the stock market endured one of its most grueling weeks in several years, some analysts say the Dow Jones Industrial Average is overdue for a correction and it will bounce back like it always has. In today’s trading the Dow Jones Industrial Average fell -69.63 points, -0.42 percent, to …
Drew Drops, Cavco Climbs; Dow, Nasdaq and S&P Slip Again Read More
In reporting financial results for the first quarter ending June 28, 2014 of its fiscal year 2015, Cavco Industries, Inc. (CVCO) says net revenue for Q1 rose 3.9 percent, from $134.0 million year-over-year to $139.2 million this year. Net income for fiscal year 2015 Q1 was $5.8 million, up from …
