The chairman of the Putrajaya affordable housing agency PR1MA in Malaysia has announced a joint effort with Japanese modular home builder Sekisui Chemical to build 500,000 affordable homes within the next five years, which would help fulfill the promise of the Barisan Nasional government. Datuk Jamaluddin Jarjis says, “ The …
Malaysia Partners with Japanese Firm on Modular Homes Read More
Updating a story MHProNews posted Oct. , concerning Universal Forest Products, Inc.’s (UFPI) release of Q3 financials, the company’s earnings exceeded analysts expectations by.17 cents per share to .71, and gross sales grew by 22 percent over the same quarter last year, according to Zacks.com. UFPI manufactures and distributes a …
The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) reports builder confidence dropped two points to 55 in October due in part to continuing challenges in the marketplace coupled with rising interest rates and uncertainty in Washington. However, any score above 50 indicates builders see the market …
Investors cheered with their checkbooks as the U. S. Senate lawmakers struck a deal to reopen the government and avert a U. S. debt default, sending the three major indexes rising over one percent each in today’s trading. CNNMoney reports the Dow gained +205.82 points, +1.36 percent, to close at …
Three Major Indexes Spurred Upwards; Tracked Housing Stocks Close Modestly Mixed Read More
A 49-unit modular apartment building is rising in the Belltown area of Seattle, Washington. Calling itself the “future of in-city living,” NHabit is squeezing the 14 X 30 foot studio apartments between a high-rise apartment building and a grocery store. Each unit will have a balcony, kitchen, bath and an …
Universal Forest Products, Inc. (NASDAQ:UFPI) will release its Q3 2013 financials Thursday, Oct. 17, at 8:30 AM EST. Headquartered in Grand Rapids, Michigan, as MHProNews knows the company supplies the manufactured housing industry with solid wood and wood-like products as well as plastic and other materials. Analysts expect UFPI to …
The Iowa Manufactured Housing Association (IMHA) reports retailers’ orders for manufactured homes (MH) are up this year over last by 28 percent to 203 homes, third in growth behind Wisconsin and Indiana in the north central region. Sixty-six percent of them were single section. Iowa ranks 35th in the nation …
Private equity firm Carlyle Group LP has entered the manufactured housing community (MHC) business in acquiring two communities in Florida from Shamrock Holdings LLC of Arizona for $30.8 million. While this is the company’s first foray into the MH industry, analysts say investors are betting this aspect of the housing …
Champion Home Builders has been contracted to supply two modular apartment buildings to North Dakota’s Bakken oil formation, providing Watford City and Williston with over 100 apartments and townhomes, according to ourmidland.com. Marking Champion’s ninth and tenth project in the area, the Wolf Run Village in Watford City will consist …
The continued wrangling over a budget deal in Washington sent stocks tumbling in today’s trading. CNNMoney reports the Dow lost -133.25 points, -0.87 percent, to close at 15,168.01. Meanwhile, the Nasdaq lost -0.56 percent, +21.27 points to end today’s trading at 3,794.01, while the S&P fell -0.71 percent, -12.08 points, …
Modular home manufacturer Ritz-Craft Homes of Mifflinburg, Pennsylvania has become the first modular home builder to develop an iPad app for their network of builders, allowing them to access information about pricing, options, floor plans and specification sheets. Noting builders are spending more time away from their offices, Ritz-Craft’s Reed …
Following up on a story MHProNews posted Oct. 11 concerning a Camden, New Jersey warehouse that is being transformed into a modular housing factory, 2,000 showed up at the ribbon-cutting ceremony looking for work. ACTS Industries, LLC intends to hire 1,000 people at $15 an hour. ACTS CEO Irv Richter …
Single-family home real estate investment trusts (REITs) are a new player in the real estate market, with the outcome yet to be realized. One of them, Silver Bay Realty Trust says there are 41 million rental units in the U. S., equal to 30 percent of the housing market. Roughly …
Yield on Investment in Single-family Homes Unknown Read More
Elkhart, Indiana-based Patrick Industries, Inc. (NASDAQ:PATK) announces its release of third quarter 2013 earnings before the market opens on Thursday, Oct. 24, 2013, according to 4-traders.com. President and CEO Todd Cleveland and CFO Andy Nemeth will host a conference call that morning at 10:00 AM EST to discuss the results. …
All three indexes advanced on word that the Obama administration and Congress are close to a deal on raising the debt ceiling. CNNMoney reports the Dow gained +64.15 points, +0.42 percent, to close at 15,301.26. Meanwhile, the Nasdaq moved up +0.62 percent, +23.41 points to end today’s trading at 3,815.28, …
Three Major Indexes Gain; Tracked Housing Stocks Close Mixed Read More
A group of businessmen seek to turn a a long-vacant warehouse in Camden, New Jersey into a global manufacturer of modular homes, with the potential of hiring 1,000 employees. The $30 to $40 million for the project is expected to come from private, state and federal sources, with a planned …
Empty Building will come to Life Producing Modular Homes Read More
The three major indexes all advanced over the one-half percent mark to end the week on a high note as investors maintained belief that the government shutdown and debt ceiling crisis’ may be ending soon. CNNMoney reports the Dow gained +111.04 points, +0.73 percent, to close at 15,237.11. Meanwhile, the …
Owner/operator of manufactured housing communities in Canada, Parkbridge Lifestyle Communities, Inc. is using air miles to lure customers to its newest retirement community in Spruce Grove, Alberta, Canada. Heritage Creek homebuyers can earn 10,000 reward miles on any new home purchase of $220,000 or more as long as the deal …
While a number of government loan programs have been slowed by the shutdown in Washington, the entire staff of the U. S. Department of Agriculture Rural Housing Service has been furloughed, paralyzing the processing of loans for rural Americans. As nationalmortgagenews reports, Don Frommeyer, president of the National Association of …
A former sports field is the site of a planned $1.29 million, 100-home manufactured housing community in the Mayfield area of Newcastle, just north of Sydney, Australia on the southeast coast. Neighbors have expressed concerns over crime, congestion, flooding and the loss of a recreation area, according to theherald.com.au. Named …
