Sam Zell, Chairman of Equity LifeStyle Properties, Inc. (ELS) tells Fortune magazine the stock market is riding high but the underlying fundamentals are weak and the market will fall. “The current euphoria in the stock market will be adjusted, and I hope that’s all that happens,” he says. Noting that …
The National Association of Home Builders (NAHB) reports while housing starts fell 16.5 percent to a seasonably-adjusted annual rate (SAAR) of 853,000 in April, housing permit issuance rose 14.3 percent to a SAAR of 1.02 million units, the highest rate since June of 2008. Based on data from HUD and …
Stocks slid today as investors ignored overall good economic data and stayed off the dance floor as all three major indexes lost a little ground. CNNMoney reports the Dow Jones Industrial Average fell -0.28 percent, -42.47 points, to close at 15,233.22. The Nasdaq lost -0.18 percent, -6.38 points, to finish …
Housing Stocks we Cover Mostly fell, as did the Three Major indexes Read More
PRWeb informs MHProNews that through the Department of Housing and Urban Development (HUD) Oklahoma City’s Bank2 is partnering with First Interstate Bank of Montana, Wyoming and South Dakota to provide affordable housing loans to Native Americans. Offering competitive interest rates and a low down payment, Section 184 Indian Home Loan …
According to utahpeoplespost, real estate investment trust (REIT) UMH Properties, Inc. was upgraded by analysts at TheStreet from a hold to a buy position, as reported by AnalystRatingsNetwork. The company has strong growth in revenue and net income, good return on equity and earnings per share, and reasonable valuation levels. …
MHProNews has learned from nationalmortgagenews that while the number of foreclosures is down, there are still many REO houses that have not seen the light of day in several years. CoreLogic reports foreclosure activity was down in March from the previous March 2012 by 17 percent, but April numbers show …
Foreclosure Activity Down, but the Shadow May Linger Read More
Responding to what are perceived as carved-in-stone strictures, Consumer Financial Protection Bureau (CFPB) director Richard Cordray says regardless of the agency’s QM Rule with its highly-defined rules, lenders should feel safe originating loans that have exhibited strong performance over time, as nationalmortgagenews tells MHProNews. Noting community banks and credit unions …
CNNMoney reports as home prices increase and inventories shrink, appraisers are valuing homes at or above their values, according to chief economist Lawrence Yun of the National Association of Realtors. A Seattle-based real estate agent says none of the appraisals for the homes he has sold this year have come …
France is in recession, industrial production fell in April, and the Empire State manufacturing survey fell into negative territory, but the Dow and the S&P surged to new highs, and the Nasdaq was at its highest level since 2000. CNNMoney reports the Dow Jones Industrial Average advanced +0.40 percent, +60.44 …
Dow, S&P Hit new Highs Despite Tepid Economic News; Skyline Drops Read More
MHProNews has learned from HousingWire mortgage applications dropped 7.3 percent from the previous week, according to the Mortgage Bankers Association (MBA), and the refinance index fell eight percent from the previous week. Although the seasonally adjusted purchase index dropped four percent from the prior week, it was ten percent above …
The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) composite reports builder confidence rose from 41 in April to 44 in May, as all three indexes that make up the composite gained. The HMI is based on builders’ perceptions of current sales, sales expectations, and traffic of …
MHProNews has learned from nasdaq that Zacks Investment Research has issued a strong buy on Universal Forest Products, Inc. (UFPI) stock–“Rank#1” in their rating system–due to its strong performance in Q1 2013. A component supplier to the manufactured housing industry, net income for UFPI grew 25.7 percent year-over-year and earnings …
Tribune242 reports from the Bahamas the VTrade Company, now operating its light manufacturing business out of an 86,000 foot warehouse, is considering making modular homes or electric cars and expanding into an available 240,000 square foot facility in Freeport. The firm currently makes energy efficient light bulbs, distributes hardware products …
The National Association of Home Builders reports 73.7 percent of the new and existing homes sold in the first quarter of 2013 were affordable to families earning the annual median income of $64,400, down slightly from 74.9 percent in Q4 2012. The data for the NAHB/Wells Fargo Housing Opportunity Index …
Positive sentiment about the progress of the economy plus good financial news from some of the top banks pushed the Dow and the S&P to all new record highs today. CNNMoney reports the Dow Jones Industrial Average advanced +0.82 percent, +123.57 points, to close at 15,215.25. The Nasdaq gained +0.69 …
No Tracked Housing Stocks Fall as Dow and S&P Set Records Read More
The ABQJournal tells MHProNews that the Farmington, New Mexico metropolitan statistical area (MSA) has the highest percentage of manufactured housing as part if its inventory of any metro area in the U. S., at 32 percent. Two-thirds of the county’s 128,529 residents live outside the city in rural areas, including …
Investors responded to purported news that the Federal Reserve may reduce its quantitative easing that is pumping $80 billion into the economy each month by backing off, leaving the three major indexes barely moving. CNNMoney reports the Dow Jones Industrial Average slid -0.18 percent, -26.81 points, to close at 15,091.68. …
While many call for the Federal Housing Authority (FHA) to reduce its presence in the mortgage market, it would not be a wise move with purchase loans as low as they are. MHProNews has learned from nationalmortgagenews, even though much of the housing market news is encouraging, only 2.3 million …
Killam Properties, Inc. reports for the three months ended March 31, 2013 property revenue increased 1.7 percent from $32.7 million to $33.2 million over the same period of 2012, while net rental income fell 3.6 percent, from $18.8 million in Q1 2012 to $18.1 million for 2013. Funds from operations …
The latimes tells MHProNews one of the exhibits at the Alternative Building Materials & Design Conference and Expo, which opens at the Santa Monica Civic Auditorium, will also feature a modular home like several home shows we have covered recently. The one on display is a “granny flat”by Modular Lifestyles, …
