A better than anticipated jobs report and drop in the unemployment rate pushed the Dow to another new high. All three major indexes are now up between seven and nine percent on the year, and two percent this week. CNNMoney reports the Dow Jones Industrial Average moved up +0.47 percent, …
The brenhambanner from Brenham, Texas. reports a variance that would have allowed the construction of a 106-site manufactured housing community has been voted down by the Brenham City Council. As MHProNews has learned, Adolph Wehmeyer had requested the variance. Brenham is just northwest of Houston. (Image credit: Wikipedia)
The American Banker informs MHProNews the Federal Housing Administration (FHA) is issuing its own QM rule because the Consumer Financial Protection Bureau (CFPB)’s may conflict with the FHA’s Single-Family Program. HUD spokesman Brian Sullivan states FHA has the authority under Dodd-Frank to create its own ability-to-repay rule, and will be …
The lower-than-expected first-time unemployment claims and (anticipated) better-than-expected job growth for Feb. pushed the Dow to another new record today, as all three indexes advanced. CNNMoney reports the Dow Jones Industrial Average moved up +0.23 percent, +33.25 points, to close at another record high of 14,329.49. The Nasdaq gained +0.30 …
Dow Climbs Higher; Tracked Housing Stocks Fairly Static Read More
HousingWire informs MHProNews the Federal Reserve’s February Beige Book of growth in economic activity indicates the real estate market in almost all the districts recorded strong improvement as inventories shrank and home prices rose. While in Philadelphia low-end prices were firm or rising and the prices of high-end homes were …
Investors rejoiced that economists predict 175,000 jobs will have been added in Feb., further driving the Dow to another new record today. While some analysts suggest there may be a pullback, “There’s more and more confidence that the economy is on firmer footing,” according to Bill Stone of PNC Wealth …
The columbiamissourian tells MHProNews the High Hill Circle Mobile Home Park in Columbia, MO will expand by 16 homesites if the Doris Overton Trust, the owner of the MHC, has its way. The proposal would rezone the 26.4 acres from moderate density residential to residential manufactured home. The major infrastructure …
SmartCompanyAu reports from down under modular builder Mornington Park Homes has been placed in receivership after 32 years in business, and corporate advisory firm McGrathNicol is seeking buyers for the assets of what was once Tasmania’s leading producer of modular homes, having produced nearly 32,000 homes. Despite reports that the …
NewswireCanada says Killam Properties, Inc. reports funds from operations (FFO) in Q4 2012 rose 15.7 percent over the same period for 2011, and overall net operating income (NOI) increased 1.4 percent year-over-year. For 2012, FFO increased 13.7 percent 2012 over 2011, and overall net operating income rose 5.4 percent 2012 …
KnoxNews informs MHProNews Warren Buffett, chairman of Berkshire Hathaway, which is the parent company to Clayton Homes, says the company produced 25,872 homes in 2012, an increase of 13.5 percent over 2011. “That output accounted for about 4.8 percent of all single-family residences built in the country, a share that …
The Dow hit a new high today at 14,286.37, topping the intraday and closing records set in 2007.CNNMoney reports the Dow Jones Industrial Average moved up, gaining +0.80 percent, +113.28 points, to close at a record high of 14,241.10, having gained nine percent since the beginning of the year. The …
Dow Hits New Record High; Tracked Housing Stocks Mostly Gain Read More
The charltoncountyherald reports from Folkston, GA in the southeastern corner of the state that Lifestyle Cabinetry, a division of Universal Forest Products, Inc. (UFPI), will be opening soon in the Okefenokee Industrial Park. Once a truss plant, Lifestyle will initially hire a dozen workers, and intends to hire up to …
According to the superiortelegram, the tiny town of Maple, Wis. (pop. 749) will see its revered old schoolhouse revived as a modular home manufacturing plant that will employ up to 30 people. The only other large employer in this far northwestern corner of the state is the school system, which …
MHProNews has learned from the Manufactured Housing Association for Regulatory Reform (MHARR), according to data from the Dept. of Housing and Urban Development (HUD), for the first month since Sept. 2012 the manufactured housing industry recorded an increase in production in Jan., 2013. HUD Code manufacturers turned out 4,242 homes, …
The sequestration budget cuts did not seem to deter investors as all three indexes inched higher, the Dow getting ever closer to its all time high set in Oct. 2007. Joe Bell, senior market analyst at Schaeffer’s Investment Research, says, “It’s encouraging to see the market shrug off things that …
The setexasrecord tells MHProNews an east central Texas woman has filed suit against Oak Creek Homes of Vidor, TX accusing the dealer of deceptive trade practices and breach of warranty for a manufactured home she bought in Sept. of 2010 for $55,406. Noting the home has been repaired ten times …
StreetInsider informs MHProNews that UMH Properties, Inc. (NYSE:UMH) has finalized its deal for ten all-age MHCs for $67,500,000, a total of 1,654 developed home sites to add to its portfolio. The acquisition includes five communities in Ind., four in Penn., and one in Mich., with an average occupancy of 85 …
Wall Street investors were in no hurry to move far from the wall of the dance floor on the first day of March, but did manage to keep the three major indexes on the positive side, despite concerns abut gridlock in Washington and uncertainty overseas. CNNMoney reports the Dow Jones …
Patrick Jumps up, but Most Stocks we Cover are Quiet Read More
According to the National Association of Home Builders (NAHB), even as the housing market begins to improve, the bottleneck of tight credit for builders as well as for consumers remains an obstacle to a much more robust recovery. Some materials producers closed plants and idled workers, and they are reluctant …
Lippert Components, Inc., component supplier to the manufactured housing and recreational vehicle industries, is part of a strong industrial growth pattern in Elkhart, Ind, as etruth informs MHProNews. Lippert began as a steel fabricating plant in rural Michigan in the 1950’s, and has been fabricating chassis for manufactured housing since …
