Included in the 300 exhibitors at the Montreal Fall Home Expo in Montreal, Canada will be a variety of modular homes, including Maison Bonneville’s Intergenerational EVO3 home. A blend of contemporary and traditional styling, according to montrealgazette.com, the home has three bedrooms and a play area on the ground floor, …
McGill Commercial of Beaverton, Oregon wants to build an age-restricted, 103-homesite manufactured housing community at the northern edge of Florence, OR, according to register-guard.com. On July 7, the city council voted unanimously to change the zoning from commercial to manufactured homes. McGill paid $450,000 for the 13.7-acre tract, and plans …
Baltimore’s Episcopal Housing Corp. is planning a 12-unit modular efficiency apartment building for homeless individuals, according to bizjournals.com. Each of the 680 square foot structures would be divided in half to make two 340 square foot apartments at a cost of $1.2 million, or $100,000 each. Episcopal Housing is working …
Although the value of the dollar measured against other foreign currencies has reached its highest level in four years, in part because the U. S. economy is seen as improving, the three major indexes slipped modestly in today’s trading. The Dow Jones Industrial Average nudged down -41.93 points, -0.25 percent, …
Charged with “illegally blocking borrowers’ attempts to save their homes,” the Consumer Financial Protection Bureau (CFPB) has fined Flagstar Bancorp $37.5 million for violating the agency’s mortgage servicing rules, reports housingwire.com. Flagstar allegedly took excessive time to process borrowers’ applications for foreclosure relief, denied loan modifications to qualified borrowers, and …
Flagstar Charged with Violating Mortgage Servicing Rules Read More
Frank LaCrosse and Jib Turner are building small, modular homes in Little Current, Ontario, Canada—inexpensive to heat, maintain and afford. The 600-1,000 square foot homes have safe spray foam between the lightweight steel studs, in advance of the drywall, and the outside is an exterior insulation and finishing system, called …
Builders Betting on Small Modular Homes in Northern Ontario Read More
Following on the heels of Skyline Corporation’s tentative agreement to sell its recreational vehicle (RV) division to Evergreen Recreational Vehicles LLC, as MHProNews reported Sept. 26, Cavco Industries, Inc. announced that it has attempted for the past 30 days, through various channels, to open a dialogue with the Skyline board …
Cavco Industries Attempting to Acquire Skyline Corp. Read More
Consumer confidence moved to a 14-month high, according to a Thomson Reuters/University of Michigan index. While economists in a Bloomberg survey projected 84.8 for Sept., the actual number came in at 84.6, a jump from 82.5 in August. According to rvbusiness.com, employment is growing at the strongest pace in 15 …
Latest Survey Indicates Consumer Sentiment is Rising Read More
Following news that Skyline Corp is offloading its RV division to Evergreen, as MHProNews reported, Skyline’s stock shot up 22.81 percent, +0.65, to end the week at $3.50, while the Dow Jones Industrial Average regained part of yesterday’s 264 point nosedive, moving up +167.35 points, +0.99 percent, to close at …
Skyline Skyrockets Amid Spinning off its RV Division; Dow, Nasdaq and S&P all Rise Read More
Evergreen Recreational Vehicles of Middlebury, Indiana and Skyline Corp., (SKY) producer of manufactured and modular homes and recreational vehicles, have signed a letter of interest for Evergreen to acquire all the assets of Skyline’s RV division. According to insurancenewsnet.com, Kelly L. Rose, board chairman of Evergreen, says, “I am very …
According to housingwire.com, the latest CoreLogic report indicates 946,000 properties regained positive equity in the second quarter of 2014, increasing borrower equity year over year by an estimated $1 trillion. The number of homes that remain in negative equity has fallen from 7.2 million, or 14.9 percent of all homes …
More Underwater Homes are Beginning to Float again Read More
Killam Properties, Inc. (TSE:KMP) has announced a dividend of $0.05 per share on Wed. Oct 15, 2014 to shareholders of record on Sept. 30, according to watchlistnews.com. This represents a dividend yield of 5.76 percent. With five analysts having issued a hold rating and two a buy rating, Killam has …
Investors moved away from the Wall Street dance floor in today’s trading, leaving a trail of stocks behind, as tech stocks pulled the Nasdaq down nearly two percent, and pushed down the Dow Jones Industrial Average -264.26 points, -1.54 percent, to close at 16,945.80. The Nasdaq tumbled -88.47 points, -1.94 …
Mario Gabelli, with over $19 million invested in stocks, has reduced his position in Skyline Corp., a producer of manufactured homes and recreational vehicles, by 3.21 percent. He now holds 406,700 shares, which represents 4.85 percent of the company, according to yahoofinance.com. Gabelli has decreased his holdings in the company …
Marcus & Millichap’s Manufactured Housing Research Report says rising home prices, improving job outlook and an expanding baby boomer population are adding to increased occupancy in manufactured home communities (MHCs), a trend the real estate investment services company reports will continue. Concurrently, investors looking for large, top quality communities with …
Report Cites Uptick in Demand for MHCs by Investors and Baby Boomers Read More
In a story MHProNews has been following since earlier this year, and last posted an article July 30, 2014, regarding Wyoming Homes owner David Valenti being charged with theft for selling modular homes and not delivering, a Freeland, Penn. women was awarded $59,060.28 in damages for a home that was …
Penn. Women Awarded $60k over Mangled Modular Home Deal Read More
Paul LaMonica of CNNMoney says the Russell Index of small cap stocks is down four percent in Sept., wiping out the gains for the year, driving investors to put their money in blue chips like Merck, Johnson & Johnson, Apple, Wells Fargo, Microsoft and Disney, which are beating the broader …
Affiliated Managers Group Edges Up; Dow Gains over 100 Points Read More
Following a story MHProNews posted Sept. 17 regarding Sun Communities, Inc.’s (SUI) announcement of a public offering to raise shares to help fund its recent $1.32 billion acquisition of 59 manufactured housing communities (MHCs) from Green Courte Partners, LLC, the offering is now closed. The 6,900,000 shares of commons stock, …
While sales of existing homes fell 1.8 percent in August, as MHProNews reported Sept. 23, sales of newly-built, single-family homes rose 18 percent in the same month, hitting a seasonally-adjusted annual rate of 504,000 units. The National Association of Home Builders (NAHB) reports this was the best pace in six …
Updating a post MHProNews last published Sept. 19, 2014 regarding the continuing saga in New York over the stalled 32-story modular apartment complex between developer Forest City Ratner and builder Skanska, construction is idled while counter lawsuits remain in the courts. According to nydailynews.com, Ratner cannot proceed with another contractor …
Design Flaw or Cost Overruns: Forest City Ratner versus Skanska Read More
