Representing a net gain of nine metropolitan areas year-over-year, 56 returned to or exceeded their last normal levels of economic and housing activity out of 350 metros, according to the National Association of Home Builders (NAHB)/First American Leading Markets Index (LMI). Based on current permit, price and employment data, MHProNews …
Economic and Housing Activity Remains at 88 Percent Read More
CoreLogic reports 312,000 more homes returned to positive equity in the first quarter of 2014, indicating 6.3 million homes remained underwater as of Q1 2014, compared to 6.6 million homes at the end of Q4, 2013, according to worldpropertychannel.com. In aggregate, the value of negative equity totaled $383.7 billion as …
More Underwater Homes Return to Buoyancy in Q1 2014 Read More
Stocks rose after the European Central Bank set negative interest rates in order to fuel growth, driving the Dow Jones Industrial Average and the S&P to all new highs. The Dow moved up +98.58 points, +0.59 percent, to end the day at 16,836.11. The Nasdaq gained 44.59 points, +1.05 percent, …
Bruce Ratner, executive chairman, and Maryanne Gilmartin, President and CEO, Forest City Ratner Companies (FCRC), are being honored for their longstanding commitment to New York City in recognition of their efforts to promote world-class design, architectural innovation and public art. As MHProNews has reported previously, FCRC is behind the 34-story …
Developers of Large NYC Modular Apartment Complex to be Honored Read More
Once involved in the tea business that his grandfather and namesake founded in 1894, these days 78 year-old John Murchie is on a quest to develop a modular home that he hopes will solve the housing shortage in underdeveloped countries. His grandfather developed Murchie’s Tea & Coffee company in Canada, …
The National Modular Housing Council (NMHC) reports shipments of 2,874 modular homes for the first quarter of 2014, a drop of 2.1 percent over the same quarter 2013. Compared to Q1 2013, ten states saw increased shipments of modular homes while 24 states experienced reductions. For purposes of comparison, as …
According to themortgagereports.com, Veterans Administration (VA) loans for buying a home through the Department of Veterans Affairs are often the least expensive route for homeownership for current and former U. S. military personnel. VA loans allow up to 100 percent financing with no required mortgage insurance and can be used …
Manufactured Home Purchases Available for Military Veterans Read More
The Lincoln, North Dakota Planning and Zoning Commission has denied a request by Van Zeilstra of VCZ to develop a 200 home site manufactured housing community on the west side of town, according to bismarcktribune.com. Residents raised concerns about the added traffic, flooding and values of current nearby homes. MHProNews …
North Dakota Planning Commission Refuses to Rule on Proposed MHC Read More
Although gains were modest across the board, the S&P managed to set another new high, now the sixteenth time this year, moving up to 1,927.88 after gaining +3.64 points, +0.19 percent. Meanwhile, the Dow Jones Industrial Average nudged up +15.19 points, +0.09 percent, to end the day at 16,737.53. The …
AMG Nudges up, Sky line Drops again, S&P Hits another New High Read More
In an ongoing effort to relocate victims of Hurricane Sandy along the New Jersey coast, a new low-cost modular home program for residents who cannot afford to rebuild has been announced by the Eatontown-based Affordable Housing Alliance. Eligible for federal funding, gmnews.com reports the Bayshore Bungalows would range from 700 …
Updating a story MHProNews published Aug. 13, 2013 regarding North Carolina-based Phoenix Housing Group (PHG) fraudulently selling over 1,000 manufactured and modular homes, several of the principals have been banned from the mortgage business and/or from the MH and modular industry, and fined, while others await sentencing. The charges involved …
Fraudulent Manufactured and Modular Home Sellers Brought Down Read More
Statistics compiled by the U. S. Department of Housing and Urban Development (HUD) reveal production of manufactured homes rose from 5,313 homes in April 2013 to 5,653 homes in April 2014, a 6.4 percent increase. Cumulative production of HUD Code homes for 2014 has hit 19,318, compared to 18,173 for …
U. S. Census Bureau statistics report only 36% of Americans under the age of 35 own a home, a drop from 42 percent in 2007, and the lowest level since 1982 when the Bureau began documenting the age of homebuyers, as MHProNews.com has learned. While 90 percent of Millennials would …
Wall Street turned cold in trading today as all three indexes slipped despite the 0.7 percent increase in factory orders in April. The Dow Jones Industrial Average nudged down -21.29 points, -0.13 percent, to end the day at 16,722.34, while the Nasdaq fell -3.12 points, -0.07 percent, to close at …
Patrick Edges Up, Skyline Falls; Dow, Nasdaq, S&P Slip Read More
Updating a story MHProNews.com last published May 7, 2014 regarding the owner of Meadowbrook Park manufactured housing community (MHC) in Richmond, Maine losing his license to operate because of ongoing water and sewage problems, new owner Rick Breton says he will spend $400,000 to upgrade the infrastructure and install 39 …
Marcus & Millichap (NYSE:MMI) has arranged the $875,000 sale of 55 and older community Colonial Four RV in Zephyrhills, Florida from the owner/operator to a well-known sports figure. A mix of manufactured homes and seasonal recreational vehicle home sites, the community is set on five acres and has 57 rental …
Cautious optimism surrounds the builders of manufactured and modular homes, according to ocala.com, as demand has led some producers to hire more employees and others to expand product lines. Christine Stump of Southern Structures, Inc. in Silver Springs Shores, Florida says before the housing bubble she and her husband had …
HUD Code and Modular Homes Reviving in Ocala, Florida Read More
Stocks did not move much in trading on the first day of June, but it was enough for the Dow Jones Industrial Average to post its sixth record close of the year, and for the S&P Index to notch its 15th record high of 2014. The Nasdaq fell slightly, pulled …
Dow, S&P hit new Highs; Affiliated Managers Group Edges Up Read More
Following an article MHProNews posted May 28, 2014 regarding Boston Mayor Martin Walsh’s comment that more housing for those with moderate incomes needs to be available to maintain a healthy city, an editorial in bostonglobe.com begins by saying that many manufactured and modular homes are virtually “indistinguishable in looks and …
Boston Globe Extols Manufactured and Modular Homes for City Read More
National brokerage firm Marcus & Millichap, Inc. (NYSE:MMI) has announced that its chief financial officer (CFO), Marty Louie, and Hessam Nadji, Senior Vice President and Chief Strategy Officer, will present at the William Blair 34th Annual Growth Stock Conference, to be held June 10-12, 2014 at the Four Seasons Hotel …
Marcus & Millichap to Present at annual William Blair Conference Read More
