An 80,000 lb. concrete monolith portion of a home developed by Jacksonville, Florida-based Montenero U. S. has been installed in Moore, Oklahoma, the site of a devastating tornado May 20, 2013. Comprising almost a third of the 1,885 square-foot house’s structural support, newsok.com informs MHProNews.com the shell will provide an …
Real estate investment trust (REIT) Sun Communities, Inc. (SUI) will release its fourth quarter, 2013 financials on Thursday, Feb. 14 before the market opens. Officials will discuss the results in a conference call later that same day at 11:00 AM eastern time, according to marketwatch.com. The conference call will be …
The Texas Manufactured Housing Association (TMHA) reports sales of new manufactured homes in October, 2013 rose +8.20 percent from September and increased +2.41 percent from Oct. of 2012. New sales year-to-date from October of last year were up +12.60 percent. MHProNews has learned sales of used manufactured homes rose 14.29 …
Alberta, Canada’s New Home Buyer Protection Act will offer more consumer protection when the mandatory warranty protection takes effect Feb. 1, 2014. The Canadian Home Builders’ Association-Alberta initially offered coverage on new homes beginning in 1974, and the new act ensures all builders meet the same standards. Modular and manufactured …
Factory-built Homes Covered by New Mandatory Warranty Read More
Good news from some of the largest financial institutions spurred investors back to the trading table, sending the Dow up over 100 points, as the Nasdaq and S&P responded positively as well. CNNMoney reports the Dow gained +115.92 points, +0.71 percent, to close at 16,373.86. The Nasdaq moved up +1.69 …
Cavco Gains Nearly Four Percent; Nasdaq Advances 1.69 Percent Read More
Following up on a story we first covered Jan. 9, 2014 regarding a dispute over the rewarding of a debris removal contract in Orangeburg County, South Carolina, a subsidiary of Santee Modular Homes in South Carolina is suing the county for failing to comply with federal guidelines and county guidelines …
The House Financial Services Committee (HFSC) will hold a hearing Tuesday morning, Jan. 14, 2014, on the effects of the Qualified Mortgage rule that became law two days before the scheduled session. HSFC Chairman Jeb Hensarling (R-TX) has long opposed the Dodd-Frank Act, saying the regulations unduly tighten credit for …
Effects of Qualified Mortgage Rule Discussed Two Days in Read More
Investors moved back from the dance floor today with concerns about the weak jobs report on Friday and the Federal Reserve’s impending paring of its stimulus, as all three major indexes closed down. CNNMoney reports the Dow dropped -179.11 points, -1.09 percent, to close at 16,257.94. The Nasdaq fell -1.47 …
Canada’s Killam Properties, Inc. (TSX:KMP) will release its Dec. 31, 2013 year-end financials on Tue., Feb. 18, 2014 after the market closes. A live audio webcast and conference call to discuss the results will be held the following day, Wed., Feb. 19 at 10:00 AM eastern time, according to wsjonline.com. …
Argentinian studio 4L arq has designed an affordable modular home for a vulnerable group of single mothers in the Argentina city of Cutral Co, Neuquen, Argentina. Made of concrete panels, the design process involved the future inhabitants of the homes each step of the way, MHProNews.com has learned from designboom.com. …
The marsfieldnewsherald.com reports that manufactured and modular home builder Liberty Homes, Inc. of Dorchester, Wisconsin was chosen to receive a visit from the current Alice in Dairyland, Kristin Olson. Olson is the ambassador of the WI Department of Agriculture, promoting agricultural products to the state, country and world, logging 40,000 …
Manufactured housing community (MHC) UMH Properties, Inc. (UMH) will host a review of Q4 and year-end financial results Thursday, March 13, 2014 at 10:00 AM EST, following the release of those results the day prior, March 12. Senior management will discuss the results and future forecast, marketwatch.com says, during the …
None of the three major indexes moved more than one-half percentage point up or down as investors speculated what the Federal Reaerve might do in light of December’s poor jobs report. CNNMoney reports the Dow slid -7.71 points, -0.05 percent, to close at 16,437.05. The Nasdaq advanced +0.44 percent, +18.48 …
Cavco Industries Posts Largest Gain of Tracked Housing Stocks Read More
Building products company USG converted notes held by Berkshire Hathaway into an equity stake, making Warren Buffett’s company the largest shareholder in the company at 30.5 percent. During the financial crisis in Nov. 2008, as wsj.com reports, Berkshire invested $300 million in convertible notes at a 10% interest rate. Fairfax …
Speaking to the National Association of Realtors (NAR), Consumer Financial Protection Bureau (CFPB) Director Richard Cordray said the new mortgage regulations that take effect today, Jan. 10, 2014 will protect consumers from the type of risky loan products that contributed to The Great Recession and housing bubble. Reminding NAR members …
CFPB Director Cordray Addresses the National Association of Realtors Read More
Increasingly, more mortgage borrowers are rising to the water’s surface instead of being underwater. According to RealtyTrac, 19 percent of all homes with mortgages were “deeply underwater,” meaning they owed at least 25 percent more on their mortgages than their homes are worth in December, a total of 9.3 million …
The three major indexes were mostly flat in today’s trading as investors awaited the government’s jobs report due out Friday, Jan 10. CNNMoney reports the Dow slid -17.98 points, -0.11 percent, to close at 16,444.76. The Nasdaq dropped -0.23 percent, -9.42 points, to finish at 4156.19, while the S&P moved …
Nobility Rises, Skyline Falls, Major Indexes Straddle the Fence Read More
Wells Fargo & Co. upgraded shares of manufactured housing community (MHC) owner Sun Communities, Inc. (NYSE:SUI) to an outperform rating from a market perform rating. Two analysts had previously cut their price target on Sun, but both now have issued an outperform rating for the stock, according to tickerreport.com. In …
Sun Communities Garners Outperform Rating on Stock Read More
A Cody, Wyoming couple was denied a variance to site a modular home on their land by the Park County Commissioners. The current ordinance prohibits mobile homes in the North Fork Planning Area where their land sits. MHProNews has learned “mobile home” includes manufactured and modular homes in their definition. …
A subsidiary of manufactured housing and recreational vehicle community owner Sun Communities, Inc. borrowed $141.5 million from Bank of America, split in to two loans. The $72.4 million Pool A Loan accrues interest at 4.89 percent annually, while the interest rate on the $69.1 million Pool B Loan is 4.90 …
