IndyStar reports existing home sales in Central Indiana rose 13.2 percent in October over the same month last year. The Metropolitan Indianapolis Board of Realtors (MIBOR), which covers a 13 county metro area, said the 1,735 homes sold last month mark the fourth straight month sales have grown. Sales of …
Sales of Existing Homes Climb in Indianapolis Area Read More
Omaha reports Rod Tompkins, who operates Heritage Homes in Wayne, Nebraska, in the northeast part of the state, says business is picking up and he plans to add 16 production workers to the current roster of 64. The maker of custom modular homes and apartments says the biggest demand is …
In a follow-up to our story Nov. 22, USAToday reports from Alabama a federal court struck down parts of Alabama’s HB 56 that forbids illegal immigrants from conducting any business transactions with the state, which would include manufactured housing permits. U.S. Judge Myron Thompson ruled illegal immigrants cannot be denied …
Bloomberg reports the U.S. Census Bureau says Sept. manufactured housing shipments rose to a seasonally adjusted rate of 54,000 units, an increase of 3,000 units over August 2011. Placements fell 3,000 from August, and dealer inventory gained 1,000 units, all seasonally adjusted figures. The average price of a manufactured home …
CNNMoney reports the Dow Jones Industrial Average slid again as investors continue to worry about the European debt crisis that only seems to deepen, as well as the drop in Chinese manufacturing numbers. The Dow lost 235.94 points, -2.05 percent, to close at 11,257.78. The Yahoo! Finance Manufactured Housing Composite …
Dow Drops, Euro Debt Threatens, Chinese Mfg. Lessens Read More
FinancialNewsNetwork reports, in what could be seen as a repeat performance from Sept. 23, 2011, UMH Properties ranks number one in dividend yield in the residential real estate investment trust (REIT) industry with a yield of 7.6 percent, just below the Sept. ranking of 7.7 percent. In second place, as …
The Manufactured Housing Association for Regulatory Reform (MHARR) and the Manufactured Housing Institute, acting jointly as the Coalition to Advance Manufactured Housing (Coalition), held a 30-minute follow-up conference call Nov. 22, 2011 with Federal Housing Authority (FHA) Commissioner Carole Galante, and Housing and Urban Development’s program manager, Henry Czauski, to …
HousingWire reports the Federal Reserve says the ongoing tepid housing market continues to suppress economic recovery. Minutes from the Nov. 1-2 meeting of the Federal Open Market Committee (FOMC) suggest more “policy accommodation” may be needed to spur the economy.Tight credit, lack of new household formation, and depressed job and …
NationalMortgageNews reports the Office of the Comptroller of the Currency (OCC) says the 12 national banks under regulatory orders to reform their mortgage servicing and foreclosure methods are making progress. Having agreed to the review in April, the banks have streamlined procedures for guiding struggling homeowners through the loan modification …
FinancialNewsNetwork reports Cavco Industries has the second lowest enterprise value to EBITDA (EV/EBITDA) ratio in the homebuilding industry. This formula is valuable in measuring comparable companies, and the lower the ratio the more the company is undervalued. Cavco has a ratio of 29.70, well above NVR’s 10.48, but below DR …
HousingWire reports John Burns Real Estate Consulting says the excess housing vacancy level reached 3.2 million dwellings in 2009, and has fallen to 2.4 million units, but that will take 3-4 years to occupy. Despite the push by government and industry for more loan modifications, John Burns shows 72 percent …
CNNMoney reports the Dow Jones Industrial Average dropped sharply as investors worry that the European debt crisis may yet sail west to U.S. shores, falling 248.85 points to 11547.31, a loss of 2.11 percent. The Yahoo! Finance Manufactured Housing Composite Value followed the path, losing -3.43 percent to close at …
Euro Debt Crisis Sailing West? Dow Falls, but UFP, Inc. did the Best Read More
NLRTimes reports the North Little Rock (AR) City Council could not reach agreement on whether to change the zoning laws that would ban manufactured housing from an area called Crystal Hill. Crystal Hill residents have expressed opposition to becoming subject to zoning laws of North Little Rock, while Mayor Patrick …
Bill to Allow MH in Neighborhood Returned to Planning Commission Read More
LogCabinDemocrat reports Kevin Hawks, recently honored for twenty years of membership in the Arkansas Manufactured Housing Association (AMHA), was re-elected to the AMHA’s Board of Directors at the organization’s 40th annual meeting recently. Board leadership positions include: Lloyd Watson of Roy Borden Agency in Little Rock, Chairman; Sherman Price, Price …
JoplinGlobe reports since the devastating tornado of May 22 took out one third of Joplin, Missouri’s housing, as of Nov. 16, 559 households are being served through the Federal Emergency Management Agency (FEMA). This includes the 24 acres of meadowland sited with 375 Federal Emergency Management Agency (FEMA) manufactured homes, …
Joplin Housing Tornado Survivors, Rebuilding Homes Read More
TheMotleyFool uses the financials of Universal Forest Products, Inc. to demonstrate one measuring device that can be used to analyze the future value of an investment: Following trends in AR (accounts receivable) and DSO (number of days worth of sales owed the company). Problems with ARs and DSOs can spell …
CNNMoney reports the Dow Jones Industrial Average chopped up and down all day today as investors kept their finger on the European pulse while observing the debt committee. The Dow inched up 25.43 points, or +0.22 percent, to close at 11,796.16. The Yahoo! Finance Manufactured Housing Composite Value fell 1.85 …
After Choppy Day, Dow Gains 25 Points; Likewise, Housing Stocks Move Little Read More
GreenProphet reports that students at the American University in Cairo, Egypt, have designed a solar powered modular home to compete in the Solar Decathlon next year. However, the upheaval of the Arab Spring has led to new leadership in Egypt, and funding to enter the competition next fall in Spain …
HousingWire reports a bill reinstalling higher conforming loan limits for the Federal Housing Administration (FHA) was singed into law Friday morning, Nov. 18, by President Obama. Both the House and Senate had passed the bill by over a two-thirds majority on Thursday. The FHA can now insure loans up to …
