Following up on a story MHProNews posted Oct. 15 concerning The Carlyle Group’s acquisition of two Florida manufactured housing communities (MHCs), arabianbusiness.com reports Abu Dhabi’s Mubadala Development Group owns 7.5 percent of Carlyle. Based in Washington, this is Carlyle’s first foray into MHCs, and is paying $30.5 million for the …
U. S. Land Lease Communities attracting Foreign Investors Read More
Just as a property tax increase goes before voters to relocate manufactured housing communities away from Fairchild Air Force Base in Spokane County, Washington, the base commander issued a statement that the communities are in an “accident potential zone” that is incompatible with Air Force operations. The 188 homes are …
The owners of Hall Wines in Napa Valley, California purchased the 18 homesite Vineland Vista Mobile Home Park in 2008 with plans to redevelop the space, finally closing it in 2012 after legal wrangling with tenants, according to napavalleyregister.com. Providing the Napa Valley Planning Department approves a use-permit modification and …
Vintners Replace Manufactured with Modular Housing Read More
The Buena Vista Mobile Home Park in Palo Alto, California, currently home to 104 factory-built homes, and recognized in the city’s comprehensive plan as one of the largest sources of low-income housing, may be sold for over $30 million if owners Toufic and Eva Jisser’s plan is approved by the …
California Land Lease Community on Track to Convert Read More
With the government crisis in the rear view mirror, all three indexes ended the week on a positive note, as the S&P once again set a new high. CNNMoney reports the Dow Jones Industrial Average moved up +28.00 points, +0.18 percent, to end the day at 15,399.65. The Nasdaq advanced …
All Tracked Housing Stocks Gain except one; S&P Climbs to New High Read More
Drew Industries, Inc. (DW) will release its Q3 2013 financials on Fri., Nov. 1 before the market opens, followed by a conference call at 11 AM the same day to discuss the results. A question and answer session of the call will be limited to institutional investors and analysts. As …
The Mortgage Bankers Association (MBA) reports last year 2,083 multifamily housing lenders provided $146.1 billion in new loans to apartment buildings with five or more units, representing a 33 percent gain from 2011. The mortgages went to a variety of investors, the biggest dollar volume share, 40 percent, going to …
DJ Pendleton, executive director of the Texas Manufactured Housing Association, says on Oct. 1 the Consumer Financial Protection Bureau (CFPB) clarified the rules defining what is considered a mortgage loan originator and what is not. A retail employee can only provide general information about buying a manufactured home. A more …
Will the CFPB Please Stand for Affordable Housing? Read More
Doug Duncan, Fannie Mae’s chief economist, says the recent turmoil in the nation’s capital may impact consumer confidence but he does not anticipate it will have a lasting impact on the housing recovery. While Duncan sees consumer spending as being more modest in the third quarter, he says interest rates …
Canada’s Killam Properties Inc (TSX:KMP) reports its board of directors has declared a monthly dividend of $0.04833 per common share to be paid on Nov. 15, 2013 to shareholders of record Oct. 31, 2013. Killam’s Dividend re-investment plan (DRIP) allows shareholders the opportunity to re-invest their dividends in additional common …
The residents of King George Mobile and RV Park in Surrey, British Columbia, Canada are weary of the community deterioration and lawlessness that the owner allegedly ignores, and have begun a petition to have the Manufactured Home Park Tenancy Act altered so a percentage of rent monies go towards upkeep …
The S&P vaulted to a record high in today’s trading the day after lawmakers finally decided to reopen the government, but the Dow Jones Industrial Average was set upon by the weakness of corporate earnings by heavyweights IBM, Goldman Sachs and United Health, pushing down the Dow -0.01 percent, -2.18 …
When hearing of the need of older military veterans for housing, former Green Beret and successful home builder Richard Simonian took up the challenge and now has 7,000 homesites in 40 manufactured housing communities across the western U. S. that openly caters to veterans. As lakecountrysun.com reports, John Stryker Meyer, …
Builder Provides Manufactured Housing for Fellow Vets Read More
In the wake of Hurricane Sandy damaging or destroying 346,000 homes in New Jersey, for people who are replacing their homes, modular homes are some of the most popular “hurricane proof” choices. Ocean City, NJ-based Zarilli Homes built on average two homes a month, mostly large luxury homes, before Sandy’s …
Excel and Zarilli Site Modular Homes in New Jersey Read More
The chairman of the Putrajaya affordable housing agency PR1MA in Malaysia has announced a joint effort with Japanese modular home builder Sekisui Chemical to build 500,000 affordable homes within the next five years, which would help fulfill the promise of the Barisan Nasional government. Datuk Jamaluddin Jarjis says, “ The …
Malaysia Partners with Japanese Firm on Modular Homes Read More
Updating a story MHProNews posted Oct. , concerning Universal Forest Products, Inc.’s (UFPI) release of Q3 financials, the company’s earnings exceeded analysts expectations by.17 cents per share to .71, and gross sales grew by 22 percent over the same quarter last year, according to Zacks.com. UFPI manufactures and distributes a …
The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) reports builder confidence dropped two points to 55 in October due in part to continuing challenges in the marketplace coupled with rising interest rates and uncertainty in Washington. However, any score above 50 indicates builders see the market …
Investors cheered with their checkbooks as the U. S. Senate lawmakers struck a deal to reopen the government and avert a U. S. debt default, sending the three major indexes rising over one percent each in today’s trading. CNNMoney reports the Dow gained +205.82 points, +1.36 percent, to close at …
Three Major Indexes Spurred Upwards; Tracked Housing Stocks Close Modestly Mixed Read More
Sam Zell, chairman of land lease community owner Equity LifeStyle Properties, Inc. (ELS) will be the featured speaker at the Manufactured Housing Institute’s National Communities Council Fall Leadership Forum being held Oct. 16-18 at W Hotel City Center in Chicago. Titled “Building a Vision for the Future,” topics covered include …
Sam Zell, ELS Chairman, featured at National Community Council’s Fall Leadership Forum Read More
A 49-unit modular apartment building is rising in the Belltown area of Seattle, Washington. Calling itself the “future of in-city living,” NHabit is squeezing the 14 X 30 foot studio apartments between a high-rise apartment building and a grocery store. Each unit will have a balcony, kitchen, bath and an …
