NationalMortgageNews reports the Tuscaloosa Credit Union (TCU) in Alabama is backing a program to help home buyers with poor credit realize their dreams of home ownership, following the departure of the big banks. After the mortgage rules changed, the second and third mortgages attached to the four homes prevented the …
Altos Research says their study indicates the inventory of homes on the market is a third below where it was last year, and half of what it was at the lowest point when the housing bubble burst. The low inventory is pushing prices up as demand increases. Are the banks …
Bloomberg News states while construction shrank and mortgage approvals declined in May in the United Kingdom due to economic uncertainty there, 4.6 million homes changed hands in the U.S. in May at a seasonally-adjusted annual rate, according to a report from the National Association of Realtors (NAR). The average 30-year …
While business may be good for housing suppliers to the oil and energy field projects in north central U.S., increasing populations of mostly single men in North Dakota are drawing a mixed reaction, Ohio tells MHProNews.com. With a population grown from 12,500 to over 20,000 in four years, primarily due …
The energy and mineral fields north and west of Friendship Homes in Montevideo, Minnesota are making the modular builder crank out seven modules daily, but that number is expected to rise to 12 in the near future. wctrib says the oil patch in western North Dakota, the destination for its …
An increase in factory orders and strong auto sales boosted investors’ confidence for a shortened trading day that ended at 1 PM in anticipation of the Independence Day holiday, as all three indexes closed on a positive note. CNNMoney tells us the Dow Jones Industrial Average gained +72.43 points, +0.56%, …
Dow and Most Tracked Housing Stocks Gain on Short Trading Day Read More
According to the Manufactured Housing Institute’s (MHI) monthly report, shipments of manufactured homes rose to 5,211 for May, an increase of 16.7 percent over May 2011, as well as an increase over the 4,630 manufactured homes shipped in April 2012. MHProNews.com has learned this marks the tenth consecutive month of …
SmarTrend tells MHProNews.com 63,000 shares of Sun Communities (NYSE:SUI) traded hands early today as the stock hit a 52-week high of $45.19. Trading in a range from $30.49 to $45.19 over the past year, the stock has risen 47 percent over the lowest share price. The 50-day moving average (MA) …
OriginationNews states the CoreLogic House Price Index (HPI) notched its third consecutive monthly increase as house prices rose 1.8% in May, an increase of two percent over May 2011, and is expected to rise another 1.4% in June. Anand Nallathambi, president and chief executive officer of CoreLogic says the limited …
The drop in U.S. manufacturing activity in June for the first time in almost three years was tempered by investors’ hopes the Federal Reserve would provide some stimulus for the sluggish economy, as stocks closed mixed for the first day of the second half of 2012. CNNMoney tells us the …
Following up on a story we published April 5, 2012 concerning ATCO Structures and Logistics of Alberta, Canada opening a modular production facility in Pocatello, Idaho, Manufacturing reports the Idaho State Journal says ATCO held a ribbon-cutting ceremony Wed., June 27 attended by Pocatello Mayor Brian Blad and company CEO …
The NorthKitsapHerald reports from Poulsbo, Washington incorrect serial numbers on a house, an MH paid for but not delivered, incomplete contracts, purchase and sale agreements withheld, and uncompleted work on a manufactured home are all charges being leveled at Kelly Rohr, owner of Golden Homes of Poulsbo, just outside Seattle. …
REIT (real estate investment trust) Sun Communities, Inc. reports from Southfield, Michigan its board of directors has declared a quarterly dividend of $0.63 per share for the second quarter of 2012, payable July 20, 2012 to share holders of record July 10, 2012. According to RTT News, Sun reported a …
NationalMortgageNews reports senior citizens, the primary target of reverse mortgages, do not fully understand its risks and features and the tradeoffs involved, leading the Consumer Financial Protection Bureau (CFPB) to plan stronger disclosure requirements. In a conference call with reporters, CFPB Director Richard Cordray said, “They may focus primarily on …
CFPB to Require more Transparency in Reverse Mortgage Market Read More
Investors applauded the deal reached by European leaders to assist struggling banks, pushing the Dow Jones Industrial Average up by nearly 300 points. CNNMoney reports the Dow spiked 277.83 points, +2.20%, to finish at 12,880.09. The Nasdaq roared up a full +3.00 percent to 2,935.05, while the S&P gained +2.49 …
Stocks Roar into Second Half of 2012; Housing Stocks Respond Well Read More
MHProNews has learned that the HUD Multi-Family Staff pre-approves loan for refinancing and rehabilitation, in this case, of the first manufactured home land lease community. The new loan will provide $4.2m in funding from a private lender for a resident owned cooperative located on popular Bainbridge Island in Puget Sound. MHProNews.com …
Benzinga asks if investors should buy stock based on what Warren Buffett’s Berkshire Hathaway purchases. Alex Shek reports that on May 15, Berkshire reported General Motors and Viacom were added to its portfolio as of March 31. The obvious first question is, can it be worthwhile to buy what may …
Whale Watching May not be Good Investment Strategy Read More
The decision by the U.S. Supreme Court this morning to uphold the individual mandate and the Patient Protection and Affordable Care Act (PPACA) went against the National Federation of Independent Business (NFIB) and 26 states in their argument before the Justices challenging the constitutionality of the measure. Yahoo!News reports Dan …
Today’s U.S. Supreme Court decision upholding the ObamaCare health plan prompted a sell- off of U.S. stocks as investors fear it will cost the government more, thereby further delaying the economic recovery everyone wants. Nonetheless, CNNMoney reports the Dow climbed back towards the end of the day, losing -24.75 points, …
Following a Daily Business News post from June 18, 2012 about two MHCs in Carver, Massachusetts being snatched from the jaws of Equity Lifestyle Properties and becoming co-operatives, MHProNews has learned from boston, according to MA law, MHC residents have the first right of refusal if their community is being …
