According to Neal Gabler, writing an article entitled The Secret Shame of Middle-class Americans in the May issue of The Atlantic, a Federal Reserve study from a year ago reports that nearly half of Americans would be hard-pressed to come up with $400 in an emergency—and he includes himself in …
As More People Live on the Edge, Payday Lenders Provide Valuable Service Read More
Despite continuing inventory, affordability and student loan hindrances to homeownership, the National Association of Realtors (NAR) predicts 2016 will be the strongest year for existing home sales since 2006. Lawrence Yun, the NAR’s chief economist, speaking at the association’s Legislative Meeting,predicts pre-owned home sales will hit 5.4 million this year, …
NAR Forecasts Strong Existing Home Sales in 2016, Calls for more Starter Homes Read More
In the news from CNNMoney: McDonald’s testing fresh beef hamburgers at select outlets in Texas. Alcohol sales fall for first time in 20 years. Subaru tells drivers of recalled autos: stop driving now. Just ahead of the Olympics: Can a new president save Brazil’s crippled economy. Nissan to spend $2.2 …
Patrick Industries Outperforms other MH-Related Stocks Read More
Following a story MHProNews posted May 11, 2016 regarding manufactured home community (MHC) owner NorthStar Realty Finance Corp., costar reports NorthStar is selling its portfolio of 135 manufactured home communities to a fund managed by Brookfield Asset Management Inc. for $2.04 billion, 33,010 home sites, the equivalent of $61,800 per …
NorthStar Selling Manufactured Home Community Portfolio for $2.04B Read More
A United States District Court jury awarded the owner of Colony Cove manufactured home community (MHC) $3.3 million in damages against the city of Carson, California for violating his constitutional rights by repeatedly rejecting his proposed rent increases going back to 2006. According to dailybreeze, owner James Goldstein, the largest …
Excessive Rent Control Results in $3.3M Judgment for Colony Cove MHC Read More
Following a story MHProNews last reported Feb. 25, 2016, Vancouver, British Columbia, Canada will soon be witnessing the arrival of modular housing units, each 250 square feet, for homeless singles and families. The city has pinpointed two sites for the homes. One site will accommodate 40-80 micro units, each with …
Vancouver Chooses Sites for Modular Homes for Homeless Read More
MHProNews has learned that one of the United Kingdom’s largest construction companies will build a factory next to its existing manufacturing facility, Explore Industrial Park in Steetley, Worksop, Engalnd for the construction of modular homes. Laing O’Rourke’s current state-of-the-art site produces components used in homes it builds across London and …
Modular Homes being Promoted in UK by Builders and the Government Read More
In the news from CNNMoney: Is Facebook protected under the First Amendment? Trump is a ‘rain doctor’ during a drought. Google is worth more than Apple. Political fear is paralyzing investors. Defense stocks near all time high. Europe’s banks too scared to deal with Iran. Obamacare insurance premiums may rise …
Owner of MHCs Carlyle Group Outshines other Stocks, Gains Nearly Four percent Read More
San Jose, California led 119 of the 340 metro housing markets nationwide in returning to or exceeding their last normal levels of economic and housing activity in Q1 2016. The markets are gauged by measuring the averages of housing permits, price and employment levels for the past 12 months, and …
U. S. Housing and Economic Progress is Making Haste Slowly Read More
Employing 2,142 team members from 10 supply operations and seven home building facilities in Alabama, as well as having built 5,734 homes in the state, manufactured home builder Clayton Homes will host its very first Birmingham Home Show May 17-19, 2016, at the Birmingham-Jefferson Convention Complex. Showcasing 27 homes, Keith …
In the news from CNNMoney: Walmart sues Visa over chip debit card rules. Volkswagen probe clears top executives. Oil tycoon T. Boone Pickens would prevent Muslims from coming to the U. S. until they are vetted. A fight club for giant robots is in the works. Macy’s is in serious …
With a focus on people who cannot qualify for a mortgage, especially low-income families who have been denied bank lending, a revival in seller-financed home sales has attracted the attention of the Consumer Financial Protection Bureau (CFPB) because of concern some of the dealings may violate federal truth-in-lending laws. One …
MHProNews has learned that Colony Capital Inc., a Los Angeles-based international investment and asset management firm, is negotiating to acquire NorthStar Asset Management Group, Inc. which split off from NorthStar Realty nearly two years ago, resulting in the decline of both stocks. NorthStar Realty is a real estate investment trust …
NorthStar Spinning off Manufactured Home Community Portfolio Read More
In the wake of UMH Properties, Inc. solid first quarter, the company plans to add 700-800 rental homes in fiscal year 2016, saying, “Our strong Q1 results represent an excellent start to 2016 that we intend to build upon going forward,” according to thefly. As MHProNews reported May 9, 2016, …
In the news from CNNMoney: Anheuser-Busch renames Budweiser “America” May 23 through the presidential election. Fear of terrorism is hurting European airlines. Saudi Arabia’s state-owned oil company, the largest in the world, is preparing an IPO to raise funds in the face of falling oil prices. U. S. has record …
Affiliated Managers Group Gains 3.48%; Dow Advances 222.44 Points Read More
MHProNews has learned from fidaily that Anchor Capital Advisors LLC has decreased its stake in Sun Communities, Inc. (SUI) by 9.2 percent in the previous quarter, selling 104,377 shares valued at $3,967,000, leaving its current stock in Sun valued at $74,078,000. Advantus Capital Management increased its position in Sun by …
According to a report courtesy of HousingEconomics.com, the National Association of Home Builders (NAHB) states that 24.3 percent of the average cost of a new single-family home is the result of government regulations at all levels. Three-fifths, or 14.6%, of the eventual house price comes from regulations imposed during the …
Regulatory Costs for New Home Construction Keep Climbing Read More
Manufactured home community (MHC) owner and operator UMH Properties, Inc. (NYSE:UMH) reports for its quarterly earnings statement it met Thomson Reuters’ consensus earnings per share, as MHProNews has learned. The company reported Core Funds from Operations of $4,620,000, $0.17 per diluted share for the quarter ending March 31, 2016, as …
Caritas Corp., California-based non-profit affordable housing corporation, will adopt MRI Software’s multifamily solutions to keep track of 20 manufactured home communities (MHC) in its goal of maintaining quality, affordable housing for low income persons. With the dearth of reliable, long-term reasonably-priced housing, Caritas attempts to create vibrant communities where resident …
MRI’s Software Adapts well to non-profit Operator of MHCs Read More
In the news from CNNMoney: Psychic guidance scam finally shut down by U. S. government after $200 million fraud, with more victims than Madoff. McDonald’s stock at all-time high. Uber and Lyft left Austin, TX after refusing requirement to fingerprint drivers as part of background checks. Krispy Kreme acquired in …
