BusinessWire reports Funds From Operations (FFO) for Equity Lifestyle Properties, Inc. (ELS) for the three months ending June 30, 2012 were nearly $20 million more than the comparable three months in 2011–$47.8 million versus $28.2 million. Net income for the three months ending June 30, 2012, however, was $2.1 million …
Retail sales in June fell -0.5 percent from last month, resulting in a tepid day on Wall Street as all three indexes lost a little ground. CNNMoney tells us the Dow Jones Industrial Average dropped -49.88 points, -0.39%, to close at 12,727.21. The Nasdaq fell -11.53 points to 2,896.94, while …
IstockAnalyst tells MHProNews.com Universal Forest Products, Inc. (UFPI) is anticipated by Wall Street to announce a $0.71 per share earnings report for second quarter, 2012 before the market opens Fri. July 20 with a conference by management immediately following. But iStockAnalyst‘s Rich Bieglmeier expects the report will be $0.84 per …
RVDailyReport says Kinro, Inc., a subsidiary of Drew Industries, Inc. and supplier of components for the recreational vehicle (RV) industry, announces that it has acquired the thermoforming design and production operation of Agile Vehicle Modifications, which produces plastic components for the original equipment manufacturer (OEM) and the aftermarket industry. Acquisition …
The Joint Center for Housing Studies at Harvard University says the echo boomers, those born between the late 70’s and early 90’s, while many live with parents, are no less interested in owning their own homes than past generations, and will drive the housing market in the near future. Numbering …
In addition to Atlanta’s Federal Reserve Bank’s president suggesting stimulus may be coming, JPMorgan Chase’s announcement of a stronger-than-expected earnings report sent all three indexes up well over one percent at week’s end. CNNMoney tells us the Dow Jones Industrial Average gained 203.82 points, +1.48 percent, to close at 12,777.09. …
Most Tracked Housing Stocks Rise Along with Indexes Read More
Lotwenterprise reports that modular builder Wincrief Homes of Kenora, Ontario, Canada received its certification from the Canadian Standards Association to supply municipalities and First Nation peoples with modular homes. Unlike the company’s ready-to-move (RTM) homes, modular homes are eligible for financing through banks. A subsidiary of Wincrief Forestry Products, the …
Arizona Daily Star says the median rice of homes in Tucson rose 11 percent from last June to $140,000, but was unchanged from May, according to the Tuscon Association of Realtors Multiple Listing Service. The number of days a house is on the market fell to 68 in June from …
Benzinga reports Warren Buffett has changed his tune from a year ago when he noted most everything in the economy was improving except residential housing, for which he now sees a demand in the rental market. He says although Europe is in worse shape now than six weeks ago he …
NationalMortgageNews reports RealtyTrac says foreclosure activity dropped eight percent in Q2 2012 from a year ago. 608,235 foreclosure filings—default notice, auction sale notice, or bank repossession—were reported on U.S. properties Q2 2011, as compared to 558,310 for this year’s filing. MHProNews.com has learned while banks repossessed 40,000 fewer properties in …
Foreclosures Remain a Threat to Stabilizing Prices Read More
Investors remained worried that the European summit last month will not produce a rescue plan for the euro currency union amid concerns about corporate returns in this country, as all three indexes lost a little more ground. CNNMoney reports the Dow Jones Industrial Average dropped -31.26 points, -0.25%, to close …
Most Tracked Housing Stocks Gain, While Indexes Fall Read More
Following a story we last published Sept. 19,2001 concerning the five year battle over a proposed development of two MHCs in Oxford, Connecticut, Garden Homes Management has resubmitted plans for the property, this time proposing 126 manufactured homes, reports the oxford-ctpatch. Opposition has come from the neighborhood and the Oxford …
Speaking for the Manufactured Housing Institute (MHI) at a hearing on the impact of Dodd-Frank mortgage requirements before the House Financial Services subcommittee on Financial Institutions and Consumer Credit Wed. July 11, Tom Hodges, General Counsel for Clayton Homes, suggested Congress create a secondary market for manufactured home buyers so …
Benzinga reports Wed. July 11 BMO Capital Markets downgraded Sun Communities, Inc. to market perform from outperform and repeated its $45.00 target. Benzinga compliments Sun on its balance sheet metrics, dividend coverage, and net operating income (NOI), and notes its affordable housing option continues to thrive. Sun (NYSE: SUI) closed …
Standard & Poor’s Case-Shiller Index showed slowing declines in home prices earlier in the year, and Zillow‘s survey of economists are expecting an 0.4% decline through this year, but JPChase analysts say the 4.8 million homes in the shadow inventory will drag prices down another two percent this year as …
Following up on a story we posted yesterday, July 10, yourdailyjournal reports the Rockingham (North Carolina) City Council denied a request from Charles Seago to rezone land from business to residential so he could site four additional manufactured homes on the property on which he already has five MH. Although …
Harking back to a story we published June 8, 2012, the Milford, Connecticut Planning and Zoning Board approved plans for a 36-unit multifamily development after receiving a report from the Department of Energy and Environmental Protection (DEEP), as well as the city’s health department, that development of the site posed …
U.S. stocks dropped after the minutes of the Federal Reserve Board disclosed nothing about a possible stimulus package to fire up the sluggish economy. CNNMoney tells us the Dow Jones Industrial Average dropped -48.59 points, -0.38%, to close at 12,604.53. The Nasdaq fell -0.49 percent to 2,887.98, while the S&P …
As energy workers are lured to eastern Ohio to take advantage of the jobs becoming available in the oil and gas fields of the Utica Shale formation, RVBusiness says the Ohio Environmental Protection Agency and the Ohio Department of Health have issued a 12-page set of regulations governing water. The …
MySanAntonio tells us the western edge of the Eagle Ford Shale near Interstate 35 south of San Antonio is drawing workers to the drilling fields where an additional 7,900 workers will be needed by 2025, but housing remains a problem. Banks are generally reluctant to lend money for rural housing …
