The S&P 500 closed at a record high again today, hitting 1619.7 and then settling back at 1617.50 while the Nasdaq marked its highest level since 2000, attributable to gains made by Bank of America and Apple. CNNMoney reports the Dow Jones Industrial Average slipped -0.03 percent, -5.07 points, to …
Three Indexes Stay High; Most Tracked Housing Stocks Gain Read More
Craig’sDetroit notes southeast Mich. is home to two of the largest owners of manufactured home communities. RHP Properties of Farmington Hills is the largest privately-owned MHC in the nation, having just competed a deal to acquire 71 more communities, bulging its portfolio to $2.25 billion, as MHProNews posted April 16, …
PRWeb reports Oak Creek Homes announces the opening of its new home center, its 17th in Texas, in Midland, TX to sell manufactured and modular homes and commercial buildings. General Manager Craig Johnston says the shortage of affordable housing and the rise in apartment rentals spurred the company to open …
The sacbee tells MHProNews Drew Industries, Inc. reports record net sales for the first quarter ending March 31, 2013 of $253 million, producing net income of $8.4 million, $0.36 per diluted share. An after-tax charge of $0.7 million for executive succession and relocating the company’s headquarters from New York to …
U. S. stocks surged today amid reports that the economy added 165,000 jobs in April and the unemployment rate dropped to 7.5 percent, sending the Dow Jones Industrial Average at one point over the 15,000 mark, but it settled at 14,973.96, gaining 142.38 points, + 0.96%, as CNNMoney reports. Meanwhile …
Tracked Housing Stocks Gain; Dow Crosses 15,000 Mark Read More
The Manufactured Housing Association for Regulatory Reform (MHARR) reports the U. S. Department of Housing and Urban Development (HUD) says production of manufactured housing dropped slightly March 2013 over March 2012 by 4.3 percent, from 4,671 homes last year to 4,467 this past March. As MHProNews reported May 8, 2012, …
Overall MH Production Advances, but March takes a dip Read More
The esteemed Warren Buffett, Oracle of Omaha, the eminence of income, who worked hard and smart and honestly to make his wealth, according to wallstreetcheatsheet, in an essay published online by Fortune magazine remarks on the incredible economic growth in this country since 1776, and the future importance of gender …
For the fifth consecutive week, according to what nationalmortgagenews tells MHProNews, the average 30-year fixed-rate mortgage (FRM) has dropped to 3.35 percent, and is now closing in on the record low of 3.31 percent set the week of Nov. 21, 2012. The fixed-rate 15-year mortgage set a new record low …
According to nationalmortgagenews, a survey of economists by Bloomberg reports Federal Reserve Chairman Ben Bernanke is expected to reduce the quantitative easing that has been used to bolster the economy from $85 billion monthly to $50 billion by year’s end. That would be followed by a second cut to $30 …
Federal Reserve’s Bond-Buying May End by Next Year Read More
Optimism on Wall Street rose as first time jobless claims fell and the European Central Bank cut its interest rate, driving the S&P 500 to a new record high as the Dow and Nasdaq also registered gains. CNNMoney reports the Dow Jones Industrial Average moved up +130.63 points, +0.89 percent, …
Tracked Housing Stocks, Housing Composite Rise; S&P Hits New High Read More
MHProNews has learned the National Association of Home Builders (NAHB) Chairman Rick Judson, a home builder in Charlotte, NC, has issued a statement on the nomination of Rep. Mel Watt (D-NC) to head the Federal Housing Finance Agency (FHFA). “We applaud the nomination of Representative Watt to this important position. …
Regional sales manager for Greenstar Building Systems Randy Duggan writes in the Daily Journal of Commerce from Seattle that the Northwest is beginning to accept modular construction as a viable alternative to site-built. Noting the press has covered commercial modular projects as well as nonprofits exploring low-cost modular housing, he …
TheNation reports the Stwo Group of Thailand will open a factory in Rangsit, Thailand in five months to manufacture modular homes and buildings following a 30 percent growth in residential development. Prerapat Srisakulpinyo, CEO of Stwo, says, “We expect to sell about 100 Aidol MYH-branded houses and buildings constructed under …
BusinessWire states Warren Buffett’s Berkshire Hathaway, Inc. has acquired the 20 percent of International Metalworking Companies (IMC) B.V. of Tefen, Israel that it does not already own for $2.05 billion. IMC manufactures and distributes a wide range of metalworking tools for numerous applications through its facilities and subsidiaries in 61 …
Berkshire Hathaway Acquires Balance of International Metalworking Companies Read More
For the past three years it has been a case of “Sell in May and Go Away” in the stock market, and that is how the first of May has begun, with all three indexes down on the day nearly one percent, and manufacturing and retail activity slowing. CNNMoney reports …
May Day begins with Three Indexes, Most Tracked Housing Stocks Down Read More
Following up on a story we posted April 16 regarding the acquisition by RHP Properties of 71 manufactured housing communities for $865 million, and a post April 30 about a subsequent acquisition of Countryside Village MHC in Jacksonville, Fla., for $31 million, MHProNews has learned from a correction in bizjournals …
The number of Americans who own their homes fell to 65 percent in Q1, 2013, down from 65.4 percent the first quarter of 2012, and the lowest level since the third quarter of 1995. While it peaked at 69.2 percent in June 2004 because of easy credit, Paul Diggle of …
CNNMoney informs MHProNews the S&P Case-Shiller index of home prices in 20 major markets rose 9.3 percent in Feb. over the last 12 months, an increase from January’s 8.1 percent rise, and the biggest gain in home prices since May 2006. Over a five-year period through May 2012, the index …
The Dow recovered from an early drop in the morning, eventually moving up 100 points from that low as the S&P reached an all-time high and the Nasdaq remained at its highest point in over 12 years. CNNMoney reports the Dow Jones Industrial Average gained +21.05 points, +0.14 percent, to …
S&P Reaches All-time High; Skyline Leads Housing Stocks we Track Read More
After having raised $100 million from Citi, Morgan Stanley, Prudential Financial, Inc., the John D. and Catherine t. MacArthur Foundation and the Ford Foundation, the new Housing Partnership Equity Trust (HPET) is collaborating with 12 nonprofit housing providers to invest in affordable rental housing. The goal is to provide low-cost …
