As the debt ceiling issue rages on in DC, the Dow dropped just over half a percent to close at 12,240.11, off by – 62.44. Manufactured housing stocks had mixed results. Overall the Manufactured Housing Composite Index rose +0.82% to 1018.70. Clayton’s parent Berkshire Hathaway closed 112,336.00, up $286 or …
Debt Ceiling Talks Drops Dow, Manufactured Housing stocks mixed Read More
LoanSafe reports a former mortgage broker and the owner of a defunct manufactured housing dealership in Conway SC pleaded guilty to felony mortgage fraud charges today in federal court in Florence. Michael Fortenberry, the mortgage broker, and Glenn Vaught, former owner of G&E Home Sales, pleaded guilty to one charge …
Former Mortgage Broker and Manufactured Home Dealer Plead Guilty Read More
AgentBeat reports that National Association of Realtors (NAR) Chief Executive Officer, Dale Stinton planned to “reduce staff and employees” in the NAR by about 10 percent. This came as a result of the annual budget review process. Stinton added the NAR is the ahead of budget this year and will …
NAR Reduce Staff and Employees By About 10 Percent Read More
The IndependentMail reports Stephens County (GA) Commissioners has approved the first readings of an amendment to county ordinances dealing with pre-owned manufactured homes being moved into the county. The ordinance is designed to comply with state regulations. Georgia state law passed in 2010 keeps someone from moving a ‘mobile home’ …
Stephens County amends manufactured home placement ordinance Read More
TruckTrend reports architects Craig Hodgets and HsinMing Fung have turned Hummer sheet metal parts into a modular home. The iconic image of wasteful consumerism from the 90s and 00s could now become an environmentally friendly recycled HummerHaus. Eight Hummer H2 body shells serve as the walls around a steel framed …
HomeBuyerInstitute reports that the three biggest problems for the U.S. housing market are (1) excess inventory, (2) elevated unemployment and (3) tighter lending restrictions. Their report shows the inventory of bank-owned properties have the most impact on home prices. A report by Laurie Goodman, a mortgage and housing analyst with …
SanJuanCapistranoPatch reports a controversial plan to close the Capistrano Terrace ‘mobile home park’ has been placed on hold. Capistrano Terrace Ltd. filed for chapter 11 bankruptcy protection and owes the city of San Juan Capistrano $7,548 in administrative fees. “…due to the bankruptcy, funding is not available and cannot be …
In Bankruptcy, Capistrano Terrace’s Closure Plans on Hold Read More
WCAX reports that a Windsor VT manufactured home community was saved from the threat of closure when 14 families became the new owners of the ‘park.’ Rockingham Area Community Land Trust, the prior owner, claimed high costs and threatened to close the location. “We have elderly people and people on …
Vermont Manufactured Home Community residents prevent closure Read More
SignOnSanDiego alleged that owners of a “mobile home park” packed a meeting of the Chula Vista City Council meeting by paying activists to support rent decontrol. The City Council voted to allow rent to be raised when a home in the community is sold. The change in ordinance impacts future …
Manufactured Home Community Rent Decontrol Activists Paid to attend Chula Vista meeting Read More
In a statement to MHMSM.com, U.S. Senator Jon Tester (R-MT) made the following statement. “In recent days we’ve all seen the arguments and disagreements back in Washington play out in the headlines. It’s easy to get caught up in the back-and-forth without focusing on the nuts and bolts that matter …
The Dow dropped 91.50 or .073% to close at 12,501.30 today. The dip came on the heels of Moody’s and S&P’s renewed warning they may downgrade the U.S. Credit rating over the debt ceiling issue. Most manufactured housing stocks also fell. Berkshire Hathaway (parent of Clayton Homes) dropped -.0.49. Cavco …
Dow Dips as Moody, S&P Warn of U.S. Credit Downgrade Read More
The Vancouver Sun reports the role of the Canada Mortgage and Housing Corporation (CMHC) has been reviewed by the CD Howe Institute, Fraser Institute and the Macdonald-Laurier Institute. Each provided recommendations, including privatization. Canadian taxpayers are on the hook for $500 billion to lenders. Some fear that Canadian government owned …
CTV reports the Canadian Real Estate Association (CREA) stated their members sold 10.8 per cent more homes last month compared with June 2010 and 2.6 per cent higher than in May 2011. CREA president Gary Morse said they are avoiding recession due to low interest rates, job growth, and home …
In a news release to MHMSM.com, MHARR announced they will ask Congress to review the HUD Manufactured Housing Program budget. The Manufactured Housing Association for Regulatory Reform (MHARR) asserts that HUD’s program budget has grown, while manufactured housing shipments have dropped 86% in 13 years. They suggest that Congress cut …
Congress asked to Reduce HUD’s Manufactured Housing Program Budget Read More
NWITimes states that 75% of people polled recently by the National Association of Home Builders (NAHB) prefer home ownership. This is true even given perceived risks and market fluctuations. 95% of those who identified themselves as current home owners said they are happy with their decision to own a home. …
Poll says most Americans still want to own, not rent Read More
Forbes reports that each new home built creates 3 new jobs and generates $90,000 in taxes, according to the National Association of Home Builders. Housing sales remain depressed, with last year being the worst on record for 50 years. Higher down payments, tougher credit standards and foreclosures are among the …
NAHB report cites jobs and taxes created by home building Read More
The Manufactured Housing Association for Regulatory Reform (MHARR) reports the House Financial Services Committee held a hearing on H.R. 1751 that would require all Housing and Urban Development code (HUD Code) manufactured homes be sold with a weather radio. During the hearing, Rep Barney Frank (D-MA.) proposed the establishment of …
House Committee Seeks Relief for Manufactured Housing Read More
Inquiries about the 2014 Louisville Show to MHProNews serve as a good reminder to share updates about the manufactured housing industry’s best attended trade event in 2013. Website updates are complete, but tweaks and ongoing announcements will be added at the LouisvilleManufacturedHousingShow.com site in the months ahead. As previously …
More New Homes, Seminars and Exhibits at 2014 Louisville Show Read More
