The Dow fell .55 percent on fears about the economic recovery to close at 12,479.58, while housing stocks closed mixed. Deer Valley gained 11.11 percent, Nobility Homes was up 2.74 percent, Sun Communities increased 1.68 percent and UMH moved up .90 percent. Palm Harbor Homes fell 23.33 percent, Skyline Corporation …
Dow Falls Second Day in a Row, Housing Stocks are Mixed Read More
Following up on an article we published March 2, the Los Angeles Examiner reports the U.S. Supreme Court has confirmed the December 2010 Ninth Court of Appeals ruling that rent control in California’s Land Lease Communities is constitutional. In Guggenheim versus City of Goleta, Guggenheim argued that rent control constitutes …
Forbes reports that A. Gary Shilling says avoid thinking the housing market is the key to economic recovery. The housing market continues to flounder because like any goods-driven sector of the economy, the supply outweighs the demand, which pushes prices downward. There is a surplus of 2 to 2.5 million …
Housing Analyst Predicts Turnaround Still Several Years Out Read More
According to HousingWire, the Commerce Department says on a seasonally-adjusted basis, housing starts fell nearly 24 percent from 687,000 in April of last year to 523,000 this past April. Month-to-month housing starts fell 10.9 percent, March to April this year. Analysts had expected a range of 530,000 to 583,000 homes …
Bartlesville Radio KWON reports the Dewey City Council in the northeast corner of Oklahoma held two public hearings seeking variance requests from two people for modular homes to be sited inside city limits. Neither presenter appeared, and since the council could not get any information about the size, number of …
Modular Variance Petitioners Fail to Appear, Requests Denied Read More
Following up on an article we published May 4, The Huntsville Item says the Huntsville City Council will hold its third hearing prohibiting the placement of factory-built homes built before June 1976 (a.k.a., pre-HUD Code) inside the city limits of this east central Texas town. The proposed ordinance also would …
Ban on Additional Pre-HUD Code Homes on Texas Agenda Read More
Benzinga reports Sam Zell, Chairman of Equity Group Investments, and parent company of Equity Lifestyle Properties (NYSE:ELS), the largest Land Lease Community (LLC) owner in the nation, says the Obama administration has deliberately hampered growth in the business community by sending mixed signals. Noting we are contributing to inflation in …
Sam Zell Sees Inflation Rising, Columbia as Good Growth Potential Read More
Investors lost confidence due to oil prices and the debt problem in Europe to fall 47.38 points and close at 12,548.37, while housing stocks closed mixed. Palm Harbor Homes gained 20.00 percent, Nobility Homes was up 1.74 percent, and ELS gained .20 percent. Meanwhile, UMH fell 1.1.58 percent, Cavco lost …
Dow Begins the Week Slightly Down, as Housing Stocks Close Mixed Read More
Blount Today reports that Jim and Kay Clayton have made a donation of $500,000 through the Clayton Family Foundation to the Second Harvest Food Bank in Maryville, Tennessee, where Clayton Homes and Clayton BanCorp are headquartered. The funds will be used to renovate a warehouse Second Harvest is buying for …
The Times Daily reports from Franklin County, Alabama, that Savannah Swinney and her family are the first in Alabama to move into a FEMA factory-built home. She and her daughter sought shelter in the closet of their apartment, which was heavily damaged by the tornado that carried winds up to …
First Alabama Tornado Victims Move into FEMA Homes Read More
In following up on stories published here May 3 and May 5 ,The Los Angeles Central Coast Democrat reports that California Assembly member Bill Bonning (D-Carmel) is delaying his Assembly Bill 579 (AB 579) that would reimburse local governments legal fees when their rent control laws, or other regulations regarding …
Bill to Reimburse Local Governments for Rent Control Challenges on Hold Read More
The Board of Directors of the Manufactured Housing Institute of South Carolina (MHISC) has developed a four-pronged approach to increasing sales of manufactured homes, according to Executive Director Mark Dillard. 1) Appraisals. Noting that appraisers are not always thorough in gathering comps for manufactured home sales, the association has been …
MHI of South Carolina Launches Marketing Initiatives Read More
The National Association of Home Builders (NAHB) says builders’ confidence in the market for new single-family dwellings has not changed in six of the last seven months, according to the NAHB/Wells Fargo Housing Market Index (HMI). Said NAHB Chief Economist David Crowe, “Asked to identify reasons that potential customers are …
Survey Says Builders’ Expectations for New Home Construction Flat Read More
In correspondence with MHMSM, Joe Kelly, Executive Director of the Manufactured Housing Association of Iowa, says state law requires each Land Lease Community (LLC) to file an annual report with the county treasurers by June 1 with the name of each home owner and the home mailing address. Says Kelly: …
MHMSM.com acknowledges with regret errors in an earlier story, Canadian Company Sending Temporary Modular Units to Japan on May 13th. A representative speaking for Viceroy Homes, Ltd., clarified that the company is providing 1000 temporary homes (not more), per order from the Japanese government. While they do hope and anticipate …
Errata on Report of Canadian Builder Supplying Modular Homes to Japan Read More
The Dow fell just over 100 points today to 12,595.75, ending the week 89 points lower than it began, as most housing stocks fell also. Sun Communities closed up .70 percent, but Skyline Corporation dropped 3.76 percent, MSCI lost 2.50 percent, Cavco dropped 1.98 percent, UMH lost 1.46 percent, and …
Dow Drops as Investors Step Back, and Housing Stocks Fall Read More
HousingWire reports two U.S. Senators have proposed legislation that would require mortgage servicers to discontinue pursuing foreclosure and loan modification at the same time. The Regulation Mortgage Servicing Act, introduced by Sen. Olympia Snowe (R-Maine) and Sen. Jeff Merkley (D-Ore.), would also require a third-party review of mortgage servicers’ activities …
More Legislation to Clean Up Mortgage Servicing Errors Read More
A group of MH Industry leaders is working with MHC (manufactured home communities) owners David Roden and Spencer Roane who are spearheading a plan for FEMA in disaster areas in the southern U.S. Some manufacturers, association leaders and businessmen are working on a plan that avoids FEMA’s past missteps, saves …
Industry Leaders Work on FEMA Plan Using MHCs in Tornado-ravaged States Read More
MHI Week-in-Review reports from the halls of Congress that Rep. John Lewis (D-Ga.) introduced legislation (H.R. 1632) that would re-authorize and improve Assets for Independence (AFI), a federal grant program to help people out of poverty. The bill offers funding to repair substandard homes or replace them as well as …
Legislation in the News From the Manufactured Housing Institute (MHI) Read More
Following up on a story we ran May 6, Bluffton Today reports that Beaufort Construction, Inc., got the nod for building the six modular homes planned for a Bluffton, South Carolina, affordable housing project, just west of Hilton Head. The town has also received bids for homeowner consultants to screen …
Builder Selected for Modular Units in South Carolina Read More
