Mother Nature Network reports that Zero Energy Technology and Architecture (ZETA) of San Francisco is building Tierra del Sol, a net-zero energy community of 22 modular homes in Stockton, California. Each 1,268 square foot home is designed to save the residents $2,000 annually on utility expenses. A project funded jointly …
National Mortgage News reports the Commerce Department says housing starts increased 3.5 percent in May, following a 3.4 percent drop for April, to a seasonally adjusted annual rate of 560,000 units. This figure includes single-family and multi-family units. Multifamily housing starts alone rose 24 percent over May of 2010, to …
Housing Starts, Building Permits Up, but Builder Confidence Languishes Read More
The Chronicle Herald of Canada reports from Dartmouth, Nova Scotia, near Halifax, that a 1,500 square foot modular home has been termed the most energy efficient home in the Province by the designer, Axel Lerche. Before the house is sold in three to four months, it will be an educational …
The Williston Herald in Williston, North Dakota, reports the Williams County Commission has approved a manufactured housing complex that will accommodate 2,500 people for a Capital Oil Field Services project. Located near Tioga in the northwest part of the state, the Capital Riggers Lodge will eventually consist of 74 buildings …
The Biz Coach says The Boston Consulting Group (BCG) reports wages in China are rising 15 to 20 percent a year, shrinking the difference between U.S. and Chinese pay. This disparity, combined with growing initiatives in several U.S. states to increase efficiency in production, will ultimately mean the return of …
HousingWire reports RealtyTrac’s senior vice president says he does not expect a full recovery of the housing market until 2015. Rick Sharga, speaking at HousingWire‘s REO (Real Estate Owned) Expo in Fort Worth, Texas, says 2010 saw 2.9 million foreclosure filings, the most ever. There were 550,000 foreclosure filings in …
Following up on a series of stories we published about rent control ending in Oceanside, California communities, the last one being May 26, the San Diego Union reports the battle is heating up again, Southern California style. After the city spent millions to defend rent control, the Oceanside City Council …
LinkedIn states Oxbridge Ventures, Inc., a private investment company of Vancouver, Canada, will offer $100 million for manufactured housing investment in the U.S. and Canada over the next five years, proffering $30 million in equity and debt during the next 24 months. The funding is intended to augment available financing. …
Canadian Firm to Invest in U.S. Manufactured Housing Read More
The Greeley Gazette in Colorado states the Evans City Council has been asked by the Cave Creek land lease community (LLC) to relax their requirement that manufactured homes no older than four years old can site there. Tom Carpenter, representing the owner, Sun Communities, says changing the criteria from age …
LLC Wants Accommodation in Allowing Older Homes In Read More
The Manufactured Housing Institute (MHI) weekly newsletter reports the Tennessee Valley Authority (TVA) is increasing the rebate amounts for ENERGY STAR manufactured homes to $1,950 per home for customers in their seven state service area. Under the program, home manufacturing plants will receive $1,450 for each ENERGY STAR home sold …
The auction of manufactured homes in Bourbonnais, Illinois drew attendees from states as diverse as PA, TX, LA and MS, as well as from IL, MI and IN. A source at the auction told MHMSM.com that the auction was well organized, and drew sums within 30% of original factory cost. …
Zacks reports that Equity LifeStyle Properties (NYSE:ELS) and UMH (AMEX:UMH) rank first and second, respectively, in return on equity (ROE) among residential real estate investment trusts (REITs). Investors are attracted to firms with high ROEs because it is generally considered to be a sign of efficiency. Equity’s ROE is 18.4 …
Realtor Mag, the National Association of Realtors (NAR) publication, says Harvard University’s Joint Center for Housing Studies, in its latest annual “State of the Nation’s Housing” summary, cites population growth and shifting demand driving the need for more homes. Household growth averaged 1.2 million each year from 2000-2007, then dropped …
Harvard Study Asserts 16 Million New Homes Needed in Ten Years Read More
The Federal Emergency Management Agency (FEMA) held an “Industry Day” seminar June 8 concerning production and future use of small disaster-relief homes, called Temporary Housing Units (THUs). Over fifty industry representatives attended. The Manufactured Housing Association for Regulatory Reform (MHARR) says the small housing units, 350 to 550 square feet, …
FEMA May Order More Homes from Factories for Disaster Relief Read More
CNNMoney reports in an exchange between Federal Reserve Chairman Ben Bernanke and JPMorgan Chase CEO Jamie Dimon, that Dimon said the government is stifling the recovery with its reforms, including the Dodd-Frank Act (Dodd-Frank). Bernanke spoke in Atlanta at the International Monetary Conference and acknowledged the recovery is slow. Dimon …
Wall Street Banker Blames New Regulations for Slow Recovery Read More
Altos Research says the housing market is undergoing ‘The Catfish Recovery,” meaning housing prices will stabilize near the bottom, and stay there awhile, much like a catfish is a bottom feeder swimming around somewhat randomly, yet sustained. In noting the relative constancy of the median price of housing over time, …
Benzinga says about an hour after the stock market opened June 7, the Dow Jones Industrial Average was up .32 percent, and one of the forces driving the uptick was manufactured housing, Cavco Industries, Inc. (NASDAQ:CVCO) in particular. Cavco had gained 2.4 percent by 10:05 A.M. The company’s trailing-twelve-month revenue …
Mortgage News Daily says the federal government is extending the feedback deadline on the five percent risk retention provision of the Dodd-Frank Wall Street Reform and Consumer protection Act (Dodd-Frank) to allow for more public comment. The new deadline is Aug. 1, 2011. Meanwhile, Fannie Mae is requiring mortgage servicers …
Risk Retention Comment Deadline Moved; Fannie and Freddie Changes Read More
HousingWire reports for Q1 2011, CoreLogic has determined that 40 percent of borrowers who owe more than their homes are worth, termed ‘underwater’, had taken out home equity loans for additional funds. The number of underwater loans in Q-4 2010 fell 200,000 to 10.9 million, representing 22.75 percent of all …
Miniscule Improvements in Housing Recovery Statistics Read More
HousingWire reports that Moody’s Analytics says the federal government should do more to help the 14 million underwater mortgages before falling home prices lead to another downturn in the housing market. Analyst Mark Zandi says plummeting home values could be sufficient to induce more underwater borrowers to hand their keys …
