The Press-Enterprise reports that the city of San Jacinto, California, is planning to annex some land that includes Country Lake Mobile Home Community. Country Lake residents are protected by a rent control ordinance in Riverview County, but San Jacinto does not have rent control, so any agreement could apply only …
Rent Control on the Table as City Plans Annexation Read More
Zacks says that the Berkshire-Hathaway first quarter 2011 operating earnings report shows a 49 percent drop from Q1 2010. Although total revenue gained 5.3 percent year-over-year, net income was .61 cents per share, dropping 59 percent from the same quarter last year. The loss was attributable primarily to insurance expenses …
Net Income for Berkshire-Hathaway Drops in Q1 2011 Read More
HousingWire reports the three largest cities in Ohio – Cleveland, Cincinnati, and Columbus – accounted for 45,000 foreclosures since 2009. A national network of community organizations, National People’s Action (NPA), in a survey of foreclosed properties over a 27 month period, determined that each foreclosure in the Buckeye state brought …
Study Shows Ohio Cities Hit Hard by Housing Crisis Read More
The Dow rose 45.94 points as oil and commodity prices rose from an early morning low to close at 12,684.68. In housing stocks, UMH was up .99 percent, Equity Lifestyle Properties gained .98 percent, Sun Communities rose .90 percent and MSCI gained .56 percent. Palm Harbor Homes lost 17.14 percent, …
Dow Rebounds from Early Sell-off as Housing Stocks Close Mixed Read More
The Times Daily reports from Northern Alabama that Federal Emergency Management Agency (FEMA) homes have started arriving in Franklin County to house victims of the April 27 tornadoes in areas where rental housing is limited. Eleven homes arrived over the weekend, and 30 more FEMA homes are expected by local …
According to Bloomberg, Zillow, Inc. reports that the number of homes with negative equity increased from 22 percent a year ago to 28 percent Q1 2011. There were 16.2 million homes worth less than the amount owed, compared to 13.1 homes in that situation one year ago. Home prices dropped …
The Fayetteville Observer writes that nearly 300 families will be uprooted when Fairlane Acres in Fayetteville, North Carolina, closes later this year. The Wellons family has had a 50-year lease since the early 1960s, which is near its end, and the land owners will no doubt take advantage of the …
Longtime Land Lease Community in North Carolina to Close Read More
The Knoxville News-Sentinel reports that Jim Clayton, founder of Clayton Homes and Clayton BanCorp, Inc., was one of nine recipients of the Pinnacle Award, presented by the Knoxville, Tennessee Chamber of Commerce recognizing the best in business leaders. He was awarded the “James A. Haslam II Leadership Award, which honors …
Clayton Founder Honored by Knoxville Chamber of Commerce Read More
The Manufactured Housing Institute’s (MHI) shipments report indicates that 4,035 new HUD-code homes were shipped in March 2011, down 10.7 percent from March 2010. Decreases were across the board with both single-section and multi-section homes shipments down compared with the same month last year. Compared with 2010, this year has …
New HUD Code Homes Shipped in March Fell 10.7 Percent from March 2010 Read More
HousingWire reports that Congressional Republicans have passed three bills out of subcommittee that will alter the role of the Consumer Protection Financial Bureau (CFPB) in its dealings with lenders. One of the proposals would replace the single director with a five member commission, legislation the American Bankers Association (ABA) supports. …
A stronger than expected employment report was tempered by a Euro sell-off that gave the Dow a modest advance of 54.57 points to close the week at 12,638.74, while housing stocks closed mixed. Cavco was up 3.53 percent and MSCI gained 2.21 percent. Meanwhile, Skyline Corporation dropped 1.22 percent, Equity …
Dow Registers Modest Gain, Housing Stocks End Week Mixed Read More
Bluffton Today from Bluffton, South Carolina, in the low country, says ground has been broken on a $10 million affordable modular housing community that will eventually contain 68 apartments. It is common in Bluffton to see million dollar homes right next to more modest dwellings, including manufactured homes. Said Mayor …
Digital Journal reports N2Care of Salem, Virginia, has developed a modular medical facility to allow seniors to age in place in their own backyard. The MedCottage is equipped with the latest medical technology, sensors and communications equipment via Internet and smart phone applications. The equipment monitors vital signs, filters the …
The National Association of Home Builders (NAHB) reports that Rep. Gary Miller (R-Calif.), and Rep. Brad Miller (D-N.C.) introduced HR 1755 to ease restrictions on credit available to home builders as a means to kick start home building activity. NAHB estimates three million jobs and $145 million in wages have …
Home Construction May Return with Congressional Assistance Read More
Business Wire says that Newcastle Investment Corporation (NYSE:NCT) of New York reported first quarter 2011 income applicable to common stockholders of $108 million, or $1.73 per diluted share, as opposed to Q1 2010 of $180 million that had diluted share value of $3.36. With a $4.2 billion investment portfolio, manufactured …
AZ Central reports that Phoenix, Arizona-based Cavco Industries, Inc., issued a positive earnings statement for the first quarter of the year, showing profits of $1.6 million versus a year ago when it lost $729,000 in Q1. The manufactured home producer’s net sales for the quarter rose seven percent over the …
The Republic says KBS-Building Systems of South Paris, Maine, is re-opening a manufactured housing plant in Waterford that it had closed in December, laying off 25 employees. According to General Manager Ray Atkisson, the facility was closed due to lack of work and the $700 a month cost to heat …
The Dow dropped 139.41 points to end the day at 12,584.17 as worries of unemployment caused sell-off. Housing stocks ended the day mixed. Morgan Stanley Consumer Index gained 2.35 percent, Equity Lifestyle Properties was up .34 percent, United Mobile Homes gained .20 percent and Sun Communities was up .18 percent. …
Fears Drive Dow Down, While Housing Stocks End the Day Mixed Read More
HousingWire reports mortgage rates fell to a five-month low last week amid news of more unemployment claims filed, and as higher gasoline prices ate up more consumer spending, according to Bankrate. Freddie Mac says the 30-year fixed rate mortgage (FRM) dropped to 4.71 percent, well below the five percent rate …
Mortgage Rates Fall Again Reflecting Investors Fears Read More
Following up on a story from May 3, the San Diego Union-Tribune reports that the Oceanside California City Council voted 5-3 during a contentious three-hour meeting to phase out rent control for the residents of factory-built homes. The new ruling will only affect new residents to the communities, not current …
California City Council Ends Rent Control in Land Lease Communities Read More
