Marianas Variety reports from Micronesia in the South Pacific the first green-designed modular homes are becoming commercially available as affordable housing on the island. Nanum Consulting Corp. is partnering with Guam HNC Inc. and Guam Nexus C&D to build steel-framed affordable one and two-bedroom homes for $50,000. The homes have …
According to Mark Calabria, director of financial regulation studies at the Cato Institute, data collected by Lender Processing Service (LPS) reveals that for the first time, more than half of the borrowers in foreclosure have been in foreclosure previously. Writing in FinanceTownhall, Calabria says while first-time foreclosures have been falling …
Investors are cautiously awaiting corporate returns this week, keeping activity on the stock market low, although the three indexes did manage meager gains for the day. CNNMoney says the Dow Jones Industrial Average edged up +0.02 percent today, +2.38 points, to close at 13,345.89. The Nasdaq gained +0.38 percent, +11.34 …
The billingsgazette reports because housing is so scarce and wages are so great in the Bakken Oilfield in western North Dakota, the running joke is the oilfield holds the record for homeless people with $100,000 incomes. A housing summit last spring determined the need for 5,000 housing units for the …
Community NASDAQ reports UFP Washington LLC, a subsidiary of Universal Forest Products, Inc. (UFPI), has agreed to acquire the assets of Nepa Pallet and Container, Inc., a manufacturer of pallets, bins and containers for industry and agriculture in Washington. This acquisition strengthens UFPI’s foot hold in the Northwest U.S., and …
The Dow Jones graphic says it all—the line continues downward all day until a little hiccup near the end. Good news from the housing market could not temper weak earning reports from Microsoft, McDonald’s, Google and General Electric that pounded the Dow down over 200 points, keeping investors on the …
Dennis Hill and Show Ways Unlimited, Inc. are proud to announce the launching of the Louisville Manufactured Housing Show 2013 website. The website provides a robust display of specific seminars, exhibiting manufacturers, service and supply vendors that will be at the show, in addition to some of the movers and …
MarketWatch reports Equity LifeStyle Properties, Inc. (ELS) announces the company’s CEO, Thomas Heneghan, will become CEO of Equity International effective Feb. 2013. The company’s current president and CFO, Marguerite Nader, will fill the position of ELS’ president and CEO as of Feb. 1, 2013. As MHProNews reported Sept. 13, Heneghan …
The Daytona Beach NewsJournal reports from Florida Volusia County recorded its best quarter for new residential building permits in four years, notching 239 permits in Q3 2012, an increase of 104 percent over the same period in 2011. The pace is 35.8 percent over the second quarter of 2012. Rob …
CanadaNewswire tells MHProNews Halifax, Nova Scotia-based Killam Properties, Inc. (TSX:KMP) announces the board of directors has declared a monthly dividend of $0.04833 per share will be paid to shareholders of record Oct. 31, 2012 on Nov. 15, 2012. This is the same monthly dividend amount that was paid Oct. 15. …
U.S. stocks took a slight tumble as investors eye a Chinese economic slowdown, a growth in first-time unemployment claims, and a bad earnings report card from Google. CNNMoney says the Dow Jones Industrial Average fell -0.06 percent today, -8.06 points, to close at 13,548.94. The Nasdaq lost -1.01 percent, -31.25 …
Modular builder Red Sea Housing Services in Jubail, Saudi Arabia reports profits for the first nine months of 2012 rose 32 percent over the same period 2011, according to ConstructionWeekOnline. Year-over-year profits for the three months since June nearly doubled compared to last year. The company said the net income …
Universal Forest Products, Inc. (UFPI) reported an increase of 13.7 percent net sales Q3 2012 over Q3 2011, $533.4 million over $486.9 million. Due to a $2 million one time, pretax charge for a loss contingency, net earnings were $4.2 million in 2012 versus $5.6 million in the same period …
U.S. stocks moved very little despite positive housing news and strong third quarter corporate reports. CNNMoney reports the Dow Jones Industrial Average rose +0.04 percent today, +5.22 points, to close at 13,557, while the Nasdaq gained +0.10 percent, +2.95 points to close at 3104.12. The S&P also edged up, +0.41 …
LPX, PATK, and SKY all Outperform the Three Indexes Read More
RVBusiness says White Plains, NT-based Drew Industries, parent company of MH and RV suppliers Lippert Components, Inc. and Kinro, Inc. will release its third quarter 2012 corporate financial report prior to the market opening Oct. 31. A conference call will follow that same day at 11 AM eastern time, although …
The National Association of Home Builders says statistics from HUD and the U.S. Census Bureau report new home construction shot up 15 percent to a seasonally-adjusted annual rate (SAAR) of 872,000 units. New single-family home construction accounted for 11 percent of the increase, 603,000 units, the best rate since Aug. …
While the Mortgage Bankers Association (MBA) asserts the Consumer Financial Protection Bureau (CFPB) goes beyond Dodd-Frank in its proposed mortgage servicing guidelines by creating compliance barriers, it also calls the proposed exemption for smaller servicers too narrow. HousingWire tells MHPronews consumer groups say the servicing standards do not protect distressed …
NationalMortgageNews reports loan modifications completed under both proprietary programs and the government’s Home Affordable Modification Program (HAMP) rose to 76,000 in August, an increase over the 66,000 in July and 46,400 in June. Of the 59,459 proprietary loan modifications in August, Hope Now says 93 percent had fixed interest rates …
A strong batch of corporate earnings reports pleased investors today, sending stocks and all three indexes into positive territory. CNNMoney reports the Dow Jones Industrial Average rose +0.95 percent today, +127.55 points, to close at 13,551.78, while the Nasdaq gained +1.21 percent, +36.99 points to cross the 3100. mark and …
MHProNews has learned the NAHB/Wells Fargo Housing Market Index (HMI) for newly-built single-family homes edged up one point to 41, its highest reading since June 2006. Any score above 50 indicates builders see sales conditions as good rather than poor. “Many builders are reporting increases in the number of serious …
