According to the National Association of Home Builders (NAHB), MHProNews.com has learned a survey taken by McGraw-Hill Construction Company reveals green home building accounted for 17 percent of the residential market in 2011, but that figure is expected to increase to between 29 and 38 percent in four years. In …
NorthCentralPA reports the Wall Street Journal says the Fleetwood Homes factory in Nampa, Idaho has increased production 25 percent since last fall to keep up with demand in the North Dakota oilfields for manufactured homes. Upon adding 40 employees, factory manager Jeff Chrisman says without this new demand he would …
MHProNews.com has learned from Robert S. Coldren of Hart, King & Coldren in Santa Ana, California, a Vista (CA) Superior Court judge’s ruling may help MHC owners sell their land if they cannot earn enough from renting home sites. According to utsandiego rent control has been in effect in Oceanside …
The National Association of Home Builders (NAHB) recently commended Sen. Robert Menendez (D-N.J.) for introducing the Home Building Lending Improvement Act of 2012, legislation to help restore the flow of credit for new housing production in order to create jobs, meet rising housing demand and bolster the economic expansion. Builders …
Home Builders Applaud Legislation Aimed at Credit Flow Read More
The Manufactured Housing Association for Regulatory Reform (MHARR) reports that according to official statistics compiled on behalf of the U.S. Department of Housing and Urban Development (HUD). The manufactured housing industry rebound evident in recent months continued and strengthened during December 2011, posting its fifth production increase in 12 months. …
MHProNews.com has received a memorandum from Joe Stegmayer, Chairman of the Manufactured Housing Institute (MHI), regarding testimony at last week’s House Financial Services Committee hearing on HUD’s implementation of the Manufactured Housing Improvement Act of 2000. Noting the difficulty in gaining the attention of Congress, Stegmayer emphasizes the extended effort …
MHI Responds to Unexpected Testimony at Congressional Hearing Read More
The USA Today tells MHProNews.com an op-ed piece by Congressman Spencer Bachus, R-AL, Chairman of the House Financial Services Committee, says we need more private investment that create jobs, not more failed government programs. Saying Pres. Obama’s policies have failed to help struggling homeowners and the programs are too expensive, …
Rep. Bachus: Stop the Hemorrhaging Federal Programs Read More
CNNMoney tells MHProNews.com U.S. markets edged up on reports Greece may have found backing for a bailout. The Dow Jones Industrial Average gained 33.07 points, + 0.26 percent, closing at 12,878.20. The Nasdaq gained +2.09 points, +0.07 percent, while the S&P rose 2.72 points, 0.20 percent. The Yahoo! Finance Manufactured …
Manufactured Housing Composite Moves Closer to 1000 Read More
PR-USA tells MHProNews.com that UMH Properties, Inc., of Freehold, New Jersey, took out a $11.4 million mortgage loan with Bank of America to refinance two manufactured housing communities in Ohio and Tennessee. At a fixed all-in rate of 4.39 percent, monthly principal payments will be $26,113. Payoff date is Feb. …
The National Association of Home Builders (NAHB)/First American Improving Markets Index (IMI) identifies metro areas that have shown improvement in housing permits, employment, and house prices for six consecutive months. MHProNews.com has learned the Housing markets that meet this criteria expanded by 29 for Feb. to 98, and include some …
NAHB’s Improving Market Index Grows by 29 Metro Areas Read More
MHProNews.com has learned from PHH Mortgage that retired chairman of the Philadelphia Federal Reserve Bank Charles Pizzi has joined the PHH board of directors. According to HousingWire, despite trying to recover from $423 million in debt, the company closed on $36.3 billion mortgages through Q3, 2011, an increase of 19 …
Is This the Revolving Door Our Parents Warned Us About? Read More
In response to continued waiting for the Greek government to come up with a plan to avert defaulting on its debt, CNNMoney tells MHProNews.com the Dow Jones Industrial Average nudged down -0.13 percent, 17.1 points, before closing at 12,845.31. The Nasdaq dropped the same percent, -0.13, while the S&P slid …
GlobeandMail of Toronto tells MHProNews.com the economic recovery in the U.S. is beginning without help from the housing market. Recovery from economic slumps going back decades meant the real estate market pulled everyone else along, according to columnist Brian Milder. Karl Case, who co-developed the S&P Case/Shiller Index that tracks …
Joe Kelly of the Iowa Manufactured Housing Association tells MHProNews.com HSB 593 would create a manufactured housing program fund to assist consumers with buying MH, especially if they are moving into land lease communities (LLC). Supported by Gov. Terry Branstad and leaders in the legislature, the bill authorizes the revolving …
Manuel Santana, director of engineering for Cavco Industries, told a congressional subcommittee HUD’s negligence in implementing the Manufactured Housing Improvement Act of 2000 has contributed to the industry’s 80 percent decline in production. In testimony prepared for the House Financial Services Subcommittee on Insurance, Housing and Community Opportunity, he said …
MHProNews.com has learned from NationalMortgageNews refinancings have led mortgage companies to add 3,000 employees to their rosters since September. While the U.S. Bureau of Labor Statistics (BLS) says mortgage firms employed 265,000 full time personnel at year’s end, year-over-year employment at mortgage firms actually fell 5.4 percent last year. Of …
Statistics Show Slight Improvement in Employment—Maybe Read More
Noozhawk tells MHProNews.com the Santa Barbara County Planning Commission in California is considering an ordinance that would require MHC owners to file for a closure permit if they are selling their community, and to pay all residents market value for their homes. Commissioner C. Michael Cooney says the measure is …
Selling your LLC? “Buy All the Homes,” says the County Read More
The Labor Department’s report of 243,000 new jobs in January, and falling unemployment drove all three U.S. market indexes to end the week on a high note. CNNMoney tells MHProNews.com the Dow Jones Industrial Average has gained five percent in 2012, reaching its highest level since 2008, gaining 156.82 points …
Mfg. Housing Composite and Cavco Skyrocket over 12 Percent Read More
According to Consumer Reports, York International has re-announced a recall of gas furnaces made for manufactured homes following 393 incident calls since the furnaces were manufactured 1995-2000. 336 of the calls have come in since 2004, when the first recall was announced. Sold under the brand names Coleman, Coleman Evcon, …
Frontier Communications Corp. of Stamford, Conn. donated $10,000 to the RV/MH Hall of Fame in Elkhart, Ind. according to RVBusiness. A major provider of communications products to northern Indiana consumers, according to Tom McNulty, executive director and president of the museum, the funds will help maintain the financially struggling facility. …
