Updating a story MHProNews published Aug. 13, 2013 regarding North Carolina-based Phoenix Housing Group (PHG) fraudulently selling over 1,000 manufactured and modular homes, several of the principals have been banned from the mortgage business and/or from the MH and modular industry, and fined, while others await sentencing. The charges involved …
Fraudulent Manufactured and Modular Home Sellers Brought Down Read More
Statistics compiled by the U. S. Department of Housing and Urban Development (HUD) reveal production of manufactured homes rose from 5,313 homes in April 2013 to 5,653 homes in April 2014, a 6.4 percent increase. Cumulative production of HUD Code homes for 2014 has hit 19,318, compared to 18,173 for …
U. S. Census Bureau statistics report only 36% of Americans under the age of 35 own a home, a drop from 42 percent in 2007, and the lowest level since 1982 when the Bureau began documenting the age of homebuyers, as MHProNews.com has learned. While 90 percent of Millennials would …
Wall Street turned cold in trading today as all three indexes slipped despite the 0.7 percent increase in factory orders in April. The Dow Jones Industrial Average nudged down -21.29 points, -0.13 percent, to end the day at 16,722.34, while the Nasdaq fell -3.12 points, -0.07 percent, to close at …
Patrick Edges Up, Skyline Falls; Dow, Nasdaq, S&P Slip Read More
Updating a story MHProNews.com last published May 7, 2014 regarding the owner of Meadowbrook Park manufactured housing community (MHC) in Richmond, Maine losing his license to operate because of ongoing water and sewage problems, new owner Rick Breton says he will spend $400,000 to upgrade the infrastructure and install 39 …
The St. Vincent de Paul Society of Lane County, Oregon purchased the 63-home site Oakridge Mobile Home Park in Oakridge, Oregon for $1.125 million, its fourth acquisition of a manufactured home community in ten years, according to registerguard.com. Aided by state and federal grants and a subsidized low-interest loan from …
Non-profit Acquiring Manufactured Home Communities in Oregon Read More
Marcus & Millichap (NYSE:MMI) has arranged the $875,000 sale of 55 and older community Colonial Four RV in Zephyrhills, Florida from the owner/operator to a well-known sports figure. A mix of manufactured homes and seasonal recreational vehicle home sites, the community is set on five acres and has 57 rental …
Cautious optimism surrounds the builders of manufactured and modular homes, according to ocala.com, as demand has led some producers to hire more employees and others to expand product lines. Christine Stump of Southern Structures, Inc. in Silver Springs Shores, Florida says before the housing bubble she and her husband had …
HUD Code and Modular Homes Reviving in Ocala, Florida Read More
Stocks did not move much in trading on the first day of June, but it was enough for the Dow Jones Industrial Average to post its sixth record close of the year, and for the S&P Index to notch its 15th record high of 2014. The Nasdaq fell slightly, pulled …
Dow, S&P hit new Highs; Affiliated Managers Group Edges Up Read More
Following a story MHProNews last posted May 13, 2014 concerning a conditional-use permit request by the Whitefish (Montana) Christian Academy for a variance to site four modular classrooms, dailyinterlake.com reports a public hearing will be held Mon. evening June 2 at 7:10 PM at Whitefish City Hall. The academy intends …
Updating a story MHProNews last posted May 21, 2014 regarding Bluffton, South Carolina’s effort to replace aging pre-HUD Code units with new manufactured homes (MH), the initiative has stalled due to concerns from the planning commission over replacing the 59 MH with new homes, but without the usual architectural review …
Plan to Replace pre-HUD Code Homes Hits Aesthetic Snag Read More
Following an article MHProNews posted May 28, 2014 regarding Boston Mayor Martin Walsh’s comment that more housing for those with moderate incomes needs to be available to maintain a healthy city, an editorial in bostonglobe.com begins by saying that many manufactured and modular homes are virtually “indistinguishable in looks and …
Boston Globe Extols Manufactured and Modular Homes for City Read More
National brokerage firm Marcus & Millichap, Inc. (NYSE:MMI) has announced that its chief financial officer (CFO), Marty Louie, and Hessam Nadji, Senior Vice President and Chief Strategy Officer, will present at the William Blair 34th Annual Growth Stock Conference, to be held June 10-12, 2014 at the Four Seasons Hotel …
Marcus & Millichap to Present at annual William Blair Conference Read More
Following a one percent spike in consumer spending in March, April saw a -0.1 percent decline, the first drop in spending in one year, according to the U.S. Commerce Department, as RVBusiness.com tells MHProNews.com. The surge in March marked the largest increase in four years. Consumer spending accounts for 70 …
Consumer Spending Falls for First Time in 12 Months Read More
Following a post MHProNews published Dec. 27, 2013 regarding the sales tax increase imposed on manufactured and modular homes in North Carolina that began Jan. 1, 2014, we have learned the N. C. House version of an omnibus tax bill reduces that levy, supported by Rep. Ken Goodman (D-Richmond). But …
Bill to Reduce Tax on Factory-built Home Sales in Danger Read More
On the last trading day of the month the stock market finished flat, but the Nasdaq added about three percent for the month and the S&P, in addition to setting a new high, gained almost two percent in May. Today, CNNMoney informs MHProNews, the Dow Jones Industrial Average inched up …
S&P Index Hits New High; ELS Edges up, while LPX slips Read More
The latest Multifamily Production Index (MPI) released by the National Association of Home Builders (NAHB) reports production of apartments and condominiums rose three points in the first quarter to 53, marking the ninth consecutive quarter with a reading of 50 or above. The MPI is derived from three key elements …
Mayor Senna Mosley and the Board of Aldermen of La Vergne, Tennessee voted 4-1 requiring all new homes to be built with a sprinkler system, according to dnj.com. The daughter, granddaughter, wife and mother of firefighters, Mosley, recalling seeing roofs fall on her father as a child, says, “ I …
Manufactured and Modular Housing Exempt from Sprinklers Read More
In a story MHProNews last covered May 19, 2014 regarding the opening of the modular The Stack, the 28-unit apartment building in the Inwood section of New York City, we have learned the 56 modules were made by DeLuxe Building Systems in Pennsylvania and trucked to the site. The units …
NYC Modular Apartments Will Take First Tenants in June Read More
For the second straight month, pending home sales rose in April to 97.8 from 97.4, according to the National Association of Realtors (NAR) Pending Home Sales Index (PHSI), an indicator based on signed contracts., reports worldpropertychannel.com. Although the index is 9.2 percent below April 2013, NAR Chief Economist Lawrence Yun …
