Freehold, New Jersey-based UMH Properties, Inc. reports income for the second quarter of 2014 was $18,149,000 as opposed to $16,098,000 for the comparable period in 2013, according to marketwatch.com. Total expenses rose from $14,197,000 in Q2 2013 to $16,490,000, in Q2 2014, and income from community operations rose from $6,836,000 …
Halifax, Nova Scotia, Canada-based Killam Properties, Inc. (TSX:KMP) reports for the second quarter, ending June 30, 2014 its funds from operations (FFO) per diluted share increased 5.9 percent from $0.18 to $0.19 over the same period 2013. Same store net operating income (NOI) grew by 1.3 percent, and same store …
According to realestaterama.com, three manufactured housing communities in Moses Lake, Washington all become resident-owned communities, each governed by its own democratically-elected representatives. The 113 homesites comprising Lakeview Terrace, Ponderosa and Cascade Village were part of a portfolio owned by Cascade Communities, Ltd., with $3.3 million financing for the co-ops provided …
Forty-Five community leaders of varied backgrounds from eight counties in Pennsylvania gathered at the Federal Reserve Bank of Cleveland-Pittsburgh, sponsored by CFED’s (Corporation for Enterprise Development) Innovations in Manufactured Housing (I’M HOME), to discuss an initiative for improving the financial, health and environmental outcomes of residents of manufactured homes (MH). …
Pennsylvania Conference Conclusion: Manufactured Housing Critical to Area Read More
Investors were uneasy in today’s trading, starting in the black but then fading to red, perhaps queasy about the ongoing conflict in Ukraine and the U. S. military speculating on air drops in Iraq. The Dow Jones Industrial Average nudged down -75.07 points, -0.46 percent, to end the day at …
A research note issued to investors by equities research analysts at Citigroup reiterated its “buy” rating for Drew Industries, Inc. stock, with a $51.00 target price according to intercooleronline.com. Shares of Drew traded down -0.78% on Thurs., Aug. 7, closing at $42.21. Drew has a one-year low of $40.38 and …
Renewed fears that Russia may invade Ukraine, as Russian troops mass on the Ukrainian border, sent the three major indexes down in today’s trading, dropping the Dow Jones Industrial Average -139.81 points, -0.84 percent, to end the day at 16,429.47, while the Nasdaq dropped -31.05 points, -0.71 percent, to close …
LPX Falls over Six percent; Russian War Fears Drops Dow, Nasdaq and S&P Read More
Mortgage Bankers Association’s (MBA) Mortgage Credit Availability Index (MCAI) reports mortgage credit increased 0.5 percent from 115.8 in June to 116.4 in July, 2014, according to worldpropertychannel.com. Benchmarked at 100 in March 2012, an index increase indicates credit is loosening while a drop in the index notes tightening of credit. …
Net sales of $322 million (a quarterly record) for Drew Industries, Inc. in the second quarter of 2014 produced net income of $18.6 million, or $0.77 per diluted share, a 12 percent increase over net sales for the same period of 2013 which produced net income of $15.9 million, or …
Patty Hydock closed her modular home sales center in Egg Harbor City, New Jersey in 2006 on the eve of the housing bubble, but re-opened Jersey Coast Modular Homes eight years later following another disaster, Hurricane Sandy, that created a need for housing. Hydock had eleven good years of buying …
With investors’ concern that the market was undergoing a correction last week—defined as a ten percent or more drop from a recent peak—fading, all three major indexes rebounded in today’s trading, although not totally making up for last week’s losses. The Dow Jones Industrial Average gained +75.91 points, +0.46 percent, …
Drew, Skyline, UFPI Lead Advances; Dow, Nasdaq and S&P Move Up as well Read More
MHProNews has learned from the Manufactured Housing Association for Regulatory Affairs (MHARR), statistics released by the Department of Housing and Urban Development reveal production of HUD Code homes grew 5.3 percent in June 2014 over last June, 5,624 homes over 5,338. Industry production for the year now totals 30,675 homes, …
Rick Robinson, General Counsel in Governmental Affairs at the Manufactured Housing Institute (MHI), congratulates Brad Lovin, Executive Director of the North Carolina Manufactured and Modular Homebuilders Association (NCMHA), on working to reduce the sales tax on manufactured and modular housing by half in NC. The amendment is attached as a …
The Holly Village Council in Michigan has voted unanimously to install a master water meter to service Holly Village and Hawaiian Gardens manufactured home communities (MHCs), both owned and operated by Sun Communities, Inc., as MHProNews has been informed. Sun is responsible for distribution to the individual homesites, each with …
Encore Wire Corporation (Nasdaq:WIRE) is building a 250,000 square-foot addition to its existing aluminum manufacturing plant at McKinney, Texas, at a cost of $40 million plus, which includes upgrades to the entire complex, according to wsj.com. Encore offers a broad range of interior wiring for manufactured housing as well as …
Although the stock market endured one of its most grueling weeks in several years, some analysts say the Dow Jones Industrial Average is overdue for a correction and it will bounce back like it always has. In today’s trading the Dow Jones Industrial Average fell -69.63 points, -0.42 percent, to …
Drew Drops, Cavco Climbs; Dow, Nasdaq and S&P Slip Again Read More
In reporting financial results for the first quarter ending June 28, 2014 of its fiscal year 2015, Cavco Industries, Inc. (CVCO) says net revenue for Q1 rose 3.9 percent, from $134.0 million year-over-year to $139.2 million this year. Net income for fiscal year 2015 Q1 was $5.8 million, up from …
Chicago-based Zeman Homes acquired the former Touhy Mobile Home Park in Des Plaines, Ill. and renamed it Blackhawk Estates, as MHProNews reported Jan 15, 2013. Following a story we posted July 23, 2014 regarding allegations that Zeman Homes managers are fining residents for leaving items outside, at a meeting with …
Community Managers Accused of taking Residents’ Property Read More
According to kansas.com, the U. S. Census Bureau reports the overall homeownership rate dropped to 64.7 percent in Q2 of 2014 from 66.9 percent in the same quarter five years ago. For those under 35, the Millennial generation, homeownership has dropped from 39 percent in the second quarter of 2010 …
Elkhart, Indiana-based Lippert Components, Inc. (LCI) has signed a multi-year contract to supply custom school bus windows to Blue Bird Corporation, a long-time manufacturer of school buses, according to stonline.com. Phil Horlock, President and CEO of Blue Bird, says, “Through significant collaboration, we’ve developed a best-in-class window complete with a …
