In a wide-ranging interview on Fox Business Network’s Opening Bell with Maria Bartiromo, Chairman of Equity LifeStyle International, Sam Zell, says he may not be young enough to see the final tapering of the Federal Reserve’s stimulus, despite most observers saying it will end in October, as housingwire.com tells MHProNews. …
Investors moved away from the Big Board in trading today, perhaps motivated by the World Bank lowering its Global Economic Outlook estimate for 2014 from the 5.3 percent it predicted in January to 4.8 percent today. CNNMoney tells MHProNews the Dow Jones Industrial Average lost -102.04 points, -0.60 percent to …
Skyline Drops, UFPI Falls; Dow Loses over 100 Points Read More
After a long and storied career in the manufactured housing industry spanning 45 years, 29 of them with what is now American Homestar Corp., MHProNews has learned Ronnie Richards is retiring, as he transitions into a family-owned business, Butler’s Courtyard, a popular event venue in Houston. Ronnie joined Homestar (then …
Ronnie Richards Retiring from Manufactured Housing Industry Read More
Updating a story MHProNews first posted May 22, 2013 regarding a planned disaster housing project in New York City, myfoxny.com reports the first stackable, modular prototype has been sited in Brooklyn. Intended to keep disaster victims in their neighborhood, the basic 480 square-foot unit has a combined living room and …
Modular Emergency Housing Prototype Sited in Brooklyn Read More
MHProNews.com has been informed that private equity real estate investment firm Green Courte Partners, LLC has acquired Mountain View Estates, a 170-homesite age-restricted manufactured housing community (MHC) in Mesa, Arizona. Green Courte’s William Glascott says, “With this acquisition, our portfolio of age-restricted land-lease communities within the greater Phoenix market includes …
Green Courte Acquires Land Lease Community in Arizona Read More
A new ordinance unanimously passed by the Hamlet (North Carolina) City Council allows any factory-built home to be sited within the city limits providing it is set on a concrete foundation and “the tongue, axles, transporting, lights and removable towing apparatus shall be removed subsequent to final placement.” The previous …
New Ordinance Allows Placement of Pre-HUD Code Homes Read More
Real estate developer Ian Cassels of New Zealand intends to build 2,000 two-bedroom modular apartment units for Wellington measuring about 225 square feet each. As director of The Wellington Company, Cassels has already signed a contract to develop land owned by the Port Nicholson Block Settlement Trust, where a prototype …
Investors on Wall Street stepped back for some breathing room after a week of setting new records, leaving the three major indexes to move little either way. CNNMoney tells MHProNews the Dow Jones Industrial Average gained all of +2.82 points, +0.02 percent to end the day at 16,945.42. Meanwhile, the …
Skyline Rises, UMH Slips; Dow, Nasdaq and S&P Move Little Read More
Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 109,824 U. S. properties in May 2014, a five percent decrease from the previous month, and a 26 percent drop from one year ago to the lowest monthly level since Dec., 2006, according to RealtyTrac’s latest …
Foreclosures Fall Nationally 26 Percent Year-over-Year Read More
Elkhart, Indiana-based Patrick Industries, Inc. (PATK) has acquired Precision Painting Group which offers interior and exterior painting for recreational vehicles (RVs), and includes TDM Transport, Inc., which services in-house customers. Although no purchase price was published, Precision expects annual revenues this year of $28 million, according to rvbusiness.com. Patrick is …
While the most recent news from Lake County, California that MHProNews has published dealt with rent control in manufactured housing communities Feb. 5, 2014, record-bee.com reports the Middletown Unified School District (MUSD) Board of Trustees will consider a contract with American Modular Systems to install modular classrooms at Minnie Cannon …
Modular Classrooms to be Considered for Calif. School Read More
All three major indexes moved up modestly, but sufficient to hit new highs for the Dow Jones Industrial Average and the S&P 500 on news of pharmaceutical and food company acquisitions. The Dow moved up +18.82 points, +0.11 percent, to end closer to 17k at 16,943.10. The Nasdaq gained 14.84 …
Patrick, LPX Advance; Dow, S&P hit New Highs Again Read More
McGraw Hill’s Construction Forecast Report anticipates 45 percent of all construction begun in the U. S. in 2014 will be single and multifamily housing projects. A survey of builder and remodeler members of the National Association of Home Builders (NAHB) reveals 62 percent of single-family home builders report they are …
As an addendum to a story MHProNews published April 26, 2013 regarding Florida’s state-run insurance company reducing its coverage (but not its premiums) on older manufactured homes (MH), a resident says his Citizens renewal notice indicates the value on his home dropped from $71,000 to $29,000 in 12 months. In …
Manufactured Home Owner Upset with Florida Insurer Read More
Nigerian immigrant Emeka Onwugbenu (pronounced “eh-Meh-ka on-woo-Bay-nu”) arrived in Pittsburgh in 2002, and after graduating from Penn State with a degree in engineering and Carnegie Mellon University with an MBA, has become one of the most innovative developers in town in just four years. The American Institute of Architects (AIA) …
Modular Development Garners Design Award for Nigerian Immigrant Read More
Following a story MHProNews posted May 21, 2014 regarding the city of Bluffton, South Carolina’s plan to replace aging pre-HUD Code homes with new modulars, the affordable housing committee intends to offer a final draft to the Bluffton Town Council next month. MHProNews has learned the 22 Small Home Series …
Affordable Housing Plan calls for 22 New Modular Homes Read More
Following a story MHProNews published June 4, 2014 regarding the Lincoln (North Dakota) Planning Commission’s denial of a request to develop a 200 site manufactured housing community (MHC), the city council voted 2-0 to to approve rezoning for the project. Dave Patience, a civil engineer who presented the plan on …
City Council Defies Planning Commission, Approves Zoning for 200 Site MHC Read More
U. S. employers added 217,000 jobs in May, continuing four months of significant job growth that now averages 234,000 for the past three months, although it is a drop from the 282,000 added in April. Following a slow start to the year, often blamed on the severe winter weather, the …
All three major indexes got a boost of around one-half percent upon a better-than-expected jobs report from the U. S. Department of Labor this morning. The Dow Jones Industrial Average moved up +88.17 points, +0.52 percent, to end the week just below 17k at 16,924.28. The Nasdaq gained 25.17 points, …
Ritz-Craft Homes of North Carolina is celebrating its 750th home built since it began production at its Hamlet, North Carolina facility in 2005. According to yourdailyjournal.com, most of the modular homes go to coastal and mountain markets, with only eight to 12 remaining in Richmond County. Dale Dixon of Ritz-Craft …
