loansafe reports from Billings, Montana, the city is experiencing a housing boom due to its proximity to the oil boom in western North Dakota. With wome oil field employees working a two-week on and two-week off schedule, Billings is a short plane ride away. The average price for a single-family …
As follow-up to a story we posted March 16, 2012, a developer, Dan Coen, had proposed two modular housing developments comprised of 31 four and eight-person living quarters to house oil and gas workers in the energy boom now hitting the Carrollton County, Ohio area. Land that leased for $5 …
LenConnect in Adrian, Michigan informs MHProNews.com Mid Star Home Builders of Cement City, MI has taken on a new owner. Shelly Saunders is joining her husband, Scott, in operating their Ritz Craft licensed modular home business, which also has a location in Coldwater in southern MI. Scott started the business …
WisconsinRapidsTribune says Ferkey Builders in Saratoga, WI just needs approval from the Saratoga Town Board to build an over-50 modular housing community of 40 homes clustered around seven cul-de-sacs. In order for this and another project to go forward, ordinances dealing with lot sizes had to be amended, which the …
The rise of consumer confidence to a four-year high and the stability of the inflation rate in April overshadowed the $2 billion trader loss at JPMorgan. CNNMoney reports the Dow Jones Industrial Average nudged down 34.51 points, just over a quarter of a percent, to end the week at 12,820.53 …
TheChronicleHerald in Halifax, Nova Scotia, Canada says P.J.C. Land Developments Ltd., headed by Paul R. Norwood, has proposed a retirement village of 350 modular homes just northeast of Halifax in Lake Echo. Sited in 50 clusters of seven homes each, Maple Leaf Homes of Fredericton will manufacture the homes, which …
Reuters reports Standard and Poor’s Rating Services has assigned its senior debt rating of AA+ to Berkshire Hathaway Finance Corporation (BHFC) $1.6 billion note offering. The rating is actually based on parent company Berkshire Hathaway’s “extremely strong competitive position, very strong earnings, very strong liquidity position, and conservative financial leverage.” …
CNNMoney reports the Dow Jones Industrial Average edged up +0.16 percent on a drop in jobless claims but continuing problems in Europe, closing at 12,855.04 The Nasdaq dropped -0.04 percent to 2,933.64, while the S&P gained one quarter of a percent, to 1357.99. The Yahoo! Finance Manufactured Housing Composite fell …
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MarketWatch says publicly-owned REIT UMH Propeties, Inc. reports in its first quarter 2012 financials, funds from operations (FFO) fell from $0.25 per share in Q1 2011 to $0.17 at the end of March 2012—$3,512,000 down to 2,656,000, respectively. Net income for common shareholders dropped from $2,125,000, $0.15 per share, in …
NationalMortgageNews says new data shows the number of loans in foreclosure plus loans delinquent 90 or more days increased June 2011 to Dec. 2011 from 9.2 percent to 9.7 percent, following six consecutive quarters of decline. Foreclosure-Response.org notes, for the 100 largest metropolitan areas, the foreclosure rate has risen to …
David Stiff, chief economist at Fiserv, a financial analytics firm, forecasts housing prices will begin rising later this year and increase four percent a year for the next five years. CNNMoney says according to the National Association of Realtors (NAR), around half of 146 metro housing markets surveyed indicated a …
ReinforcedPlastics says MSP Property Management & Development Company, a real estate developer and manager in the Caribbean, has agreed to buy modular homes for a housing project in Antigua from Innovative Composites International (ICI). As we last reported April 6, 2012, at MHProNews.com, ICI’s new Ecoscape plant in Orangeburg, SC …
Killam Properties Inc. announces in its first quarter 2012 results, net operating income (NOI) for its same store MHC registered 4.7% growth versus the same store apartment building that generated only 1.5% growth. Overall, funds from operations (FFO) rose from 0.145 per share in Q1 2011 to 0.151 per share …
CNNMoney reports the Dow Jones Industrial Average dropped 97.03 points on continuing problems in Greece and Spain, at one time falling to 12,750, but finally rallying back to only losing -0.75 percent, closing at 12,835.06 The Nasdaq dropped -0.39 percent to 2,934.71, while the S&P closed down -0.67 percent, to …
Factory Homes, Ltd (FHL) in Hull, England has received the Q-Mark Certification by BM Trada, one of the toughest standards for construction products, and will begin producing modular homes with a low-carbon footprint to meet the need for affordable housing. Based on automobile manufacturing, the cutting-edge technology focuses on high …
The National Association of Home Builders (NAHB) asked Congress to amend the Lacey Act that holds unknowing purchasers responsible for buying illegal wood products from overseas. Under current law the U.S. government can seize any imported wood product—cabinet knobs, wood trim, lumber—made from plant material sold in violation of foreign …
CNNMoney reports the Greek stock market fell 3.6 percent today, as that country’s uncertain political situation kept investors lined against the wall on U.S stocks. All three of the indexes lost ground today, as the Dow Jones Industrial Average dropped 76.44 points, -0.59 percent, to end the day at 12,932.09. …
The Rapid City Journal in South Dakota reports the Box Elder Planning and Zoning Commission wants developer Bob Akers to rethink his plans to replace the 125-site Wagon Wheel Village MHC with 166 modular homes spaced ten feet apart. Located just east of Rapid City, the local government has no …
Following up on a story we published April 25, 2012, TCPalm says state-run Citizens Property Insurance in Florida wants to reduce its policyholders by some 687,000, 45 percent. Created by the state to provide insurance for manufactured home owners ineligible for private insurance, Citizens is now the largest insurance company …
BusinessReviewUSA informs us Moosic, PA-based Signature Building Systems, LLC is marking two milestones: Building its 4,000th custom modular home, and its 20th anniversary. CEO Victor DePhillips says, “The last four years have been difficult and we are thrilled to say we have made it through the storm and are currently …
