To grasp the odd Manufactured Housing Institute (MHI) statement to their members this week and associated document to HUD, it will be recalled that when MHI first announced what they initially called a ‘new class of manufactured housing’ – later rebranded as “CrossMod^TM“ homes – MHI staff and corporate leaders hailed their plan as a way to increase HUD Code manufactured home sales by breaking into new markets. Longtime readers of MHProNews will also recall that there was immediate pushback from within MHI by member-producers who felt that the plan would undermine manufactured homes. The Manufactured Housing Association for Regulatory Reform (MHARR) and later the Modular Home Builders Association (MHBA) blasted the Clayton Homes backed MHI “CrossMod^TM Homes plan. MHProNews led the charge early on by saying the plan appeared to be a “Trojan Horse.” Now, with MHI’s own remarks all of those who called MHI’s rationale into question a few years ago appear to have been accurate soothsayers when denouncing the MHI CrossMods scheme. It would be fair to argue that late praise is due to those who ‘walked out’ on MHI’s presentation to their own members at their annual shindig that unveiled what they now admit is a failing plan. As the document obtained below and its accompanying spin, err, message to members reveal, the prognostications of market failure for CrossMods were  confirmed by MHI in a letter to the U.S. Department of Housing and Urban Development (HUD) in which MHI mysteriously fails to mention the enhanced preemption enjoyed by HUD Code manufactured homes under the Manufactured Housing Improvement Act (MHIA) of 2000. MHI asserts to their members that they favor HUD implementing enhanced preemption. But there is no known evidence that MHI has sued HUD or local jurisdictions to enforce the law Congress enacted over 2 decades ago with widely bipartisan support. Indeed, there is indirect evidence that MHI connected leaders apparently thwarted MHI affiliates from partnering with MHARR in order to bring a test case forward for the MHIA’s enhanced preemption provision. Meanwhile, in a series of arguably shocking statements, omissions, and admissions, MHI admits that “Developers therefore are moving away from CrossMods^®, as they do not want to take the risk of transactions failing to close due to faulty appraisals.”

 

The 2-year-old video above is just one of several video pitches by brands aligned with MHI’s CrossMods plan.
They failed to mention in this video
that all HUD Code multisectional manufactured homes can qualify for
FHA, VA, USDA, Fannie Mae and Freddie Mac financing. That’s paltering at work?!

The video above with Kevin Clayton is, per YouTube, 3 weeks old. Meaning, it was uploaded at about the same time as the
MHI letter below which contradicts some of his statements. See what follows for details.

Put differently, entirely predictable problems surfaced with CrossMod^TM that MHI and their leaders can no longer deny. That is particularly true given that years of periodic spotlighting by MHARR, MHProNews, and MHLivingNews have raised the issues that demonstrated that CrossMods^®  has never achieved its hype.

These documented problems with the failing CrossMods scheme which MHI has now admitted to in writing has implications and repercussions for essentially every other aspect of HUD Code manufactured housing.

In an obliquely related development, state and other officials have been raising concerns about the problematic push by large firms such as BlackRock on ESG investing. Those public officials are using as part of their argument that publicly traded firms are shortchanging investors in their fiduciary role. Those arguments (see reports linked below) may also include claims of possible antitrust implications. The evidence-based case can be made that a similar legal argument applies to MHI and some of their publicly traded brands. Clayton Homes (BRK), Skyline Champion (SKY), and Cavco Industries (CVCO) are among the MHI brands that have backed the obviously failed CrossMods scheme.

Restated, MHI corporate and staff leaders may be violating multiple laws, regulations, and responsibilities in their illogical push to advance a program that an MHI insider told MHProNews 2 years ago has “no traction.”

MHI’s letter to HUD, obtained by MHProNews and shown below, as well as reports filed by Fannie Mae and Freddie Mac to the FHFA under their Duty to Serve (DTS) requirements now makes it crystal clear that CrossMods was at best an ill-conceived program. At worst, it was designed to be a head fake that would make MHI look like they were ‘promoting the industry’ when their promotion was debunked almost as soon as it was announced. Events since then have proven several critics of MHI’s scheme to be correct.

Instead of admitting defeat, MHI and their corporate backers have instead continued to double and triple down on a scheme that has “no traction.” Worse still, MHI could have been pressing far more logically and effectively for an acceptance of ALL HUD Code manufactured homes.

As seasoned industry critics of the MHI plan said early and sometimes often, manufactured housing has long had producers that offered ‘residential style’ manufactured homes. There have also been builders of HUD Code manufactured homes who offered “shade and shelter” affordable housing. Furthermore, there have been several builders that offered modular-code housing products as well as HUD Code manufactured homes. In short, what MHI leaders pushed as the ‘new class of manufactured housing’ later rebranded as CrossMods was apparently nonsensical.

As a high ranking official for an MHI producer member told MHProNews, the higher cost for CrossMods does not pencil out at the retail level. That source asserted that even when a lower interest rate is applied to the more expensive homes, the other added costs does not yield any payment savings.

Or as another well placed official with one of MHI’s major brands told MHProNews, the industry’s manufacturers always had the ability to produce a modular home or a manufactured home. If a lower set is desired, or if someone doesn’t want to argue with a local zoning authority, building a modular – while more costly than a residential style manufactured home – could still save a consumer money, could escape the zoning/placement drama in numbers of neighborhoods, and would qualify for the same financing that conventional builders enjoy.

In summary, time and again, each of the possible reasons MHI could or did offer failed to meet the smell test of the what the realities revealed. It would only be the more blindly trusting in MHI and their leaders who might be swayed merely due to MHI’s and their corporate leaders perceived ‘reputation.’  But as other experiences, such as the Cavco-SEC fiasco revealed, a fair question all along was were was the good in their reputation? Or with Clayton Homes, and years of regulatory, legal, and media issues, where was the ‘good’ in their reputation? Some of this reads like fiction, but it is all too real, as the SEC pleadings in the first article linked below makes clear.

When the bigger brands pull stunts like these, why is it a surprise that smaller brands – often connected to MHI and/or a MHI state affiliate – might follow suit in their own local market(s)?

With that brief background, and more information to follow in our additional information with more MHProNews expert analysis and commentary segment of this report, here is the MHI letter to HUD. MHProNews has highlighted some portions relevant to the CrossMods discussion. The entire MHI letter that includes their CrossMods requests to HUD is linked here, which includes highlighting of the items shown below, but which does not change MHI’s text. This analysis and commentary are focused on their admissions and the issues noted above.

The relevant portion of the MHI letter about CrossMods is found below.

…

FHA Action is Needed to ensure Accurate Appraisals for CrossMod Homes

CrossMod® homes represent the blending of features characteristic of site-built homes with the innovative, efficient methods used in off-site home construction to create a new class of homes for the manufactured housing industry. CrossMod® homes are placed on a permanent foundation, qualify for conventional financing, help challenge exclusionary zoning ordinances, and are virtually indistinguishable from higher-priced, site-built options.

Unfortunately, FHA guidance to appraisers regarding comparable sales to CrossMods® has unintentionally undermined the objective of providing consumers with the amenities of site-built homes at affordable prices commensurate with them being manufactured homes. Without improved guidance, appraisers will continue to consistently undervalue CrossMod® homes, which will threaten the broad adoption of CrossMods® in the market – and thereby prevent CrossMod® homes from achieving their full consumer potential. That is why we seek your immediate attention to address this issue.

Since CrossMods® are still relatively new in the market, nearby CrossMod® homes often are not available for appraisers to use as comparables for an Enterprise-backed CrossMod ® mortgage loan. While CrossMod® homes are the best and most appropriate comparable for an appraiser to utilize for other CrossMod® homes, when such comparables are not available, site-built homes, along with the appropriate adjustments that are made with any appraisal, are the most appropriate option. Despite FHA guidance suggesting that site-built homes can be used as comparables when no CrossMod® comparables exist, in practice, appraisers instinctively are reverting to using traditional Department of Housing and Urban Development (HUD) Code manufactured homes as comparables, which is permitted by the current FHA guidance.

As a result, the existing FHA CrossMod® appraisal guidance is clearly undermining the programs’ intended effect as appraisals for CrossMod® homes are typically inaccurate – well below true market values. This has caused the utilization of CrossMods® by developers to be stymied because the artificially low appraisal values do not support the necessary loans for purchase. Developers therefore are moving away from CrossMods®, as they do not want to take the risk of transactions failing to close due to faulty appraisals.

Given that FHA manufactured housing CrossMod® programs were created to facilitate manufactured housing that is specifically built to meet construction and architectural design standards that are consistent with site-built homes, it is inappropriate for the programs to be undermined because appraisers are using traditional manufactured homes as comparables. Site-built homes are more physically similar to CrossMod® homes than are traditional manufactured homes. Providing clear appraisal guidelines that require the use of site-built comparables for CrossMod® homes, but only when other CrossMod® homes are not available, will result in clarity for appraisers to ensure they select appropriate sales comparables that are the most physically similar to the subject property.

We urge you to address this problem as soon as possible by changing the language in your guidance for appraisers, so that they have clarity about how to value CrossMod® homes. …”

The document was signed by Lesli Gooch, MHI’s CEO.

 

Near the end of a long, recent MHI email to their members earlier this week, here is the MHI ‘news’ item to their own members about their letter, posted above.

Policy and Research News

MHI Submits Comments to FHA Regarding

Small Dollar Mortgage Lending

In October, the Federal Housing Administration (FHA) published a request for information (RFI) seeking input about the barriers mortgages with small principal balances present to small dollar mortgage lenders insured through the FHA program. Additionally, FHA was also seeking information on ways to improve its policies and programs to support affordable homeownership opportunities in underserved markets with lower housing prices.

MHI submitted comments in response to FHA’s RFI, noting that manufactured homes, due to their comparative affordability relative to site-built houses, represent the lowest dollar amount of single-family homes in almost every market in the country. In the letter, MHI noted that FHA Title I loans for manufactured homes have decreased 99.7% in just over a decade, falling from 1,776 loans in 2010 to only 5 in fiscal year 2021, and calls upon FHA to take a more active role in personal property lending. MHI also outlined the issues surrounding appraisals for CrossMod® homes, specifically that current FHA guidance has created confusion in the marketplace and arguing that “without improved guidance, appraisers will continue to consistently undervalue CrossMod® homes, which will threaten the broad adoption of CrossMods® in the market.” Click here to read the full comment letter. ##

What was provided above and what follows below are an apparent example of the insightful Mark Twain remark as shown.

 

 

 

It is easier to fool someone than to convince them that they had been fooled. But what this report and analysis does is illustrate in the context of CrossMods just how the “deception and misdirection” at MHI has been deployed off and on over a period of years and over the course of several distinctive topics. The lists of seemingly impressive MHI statements to their members that the CrossMods letter and related was a part of, when carefully unpacked, yield no meaningful advancement on issues that MHI claims they want accomplished.

MHI leaders are apparently in a problematic spot. MHI leaders can’t claim to have achieved their key goals in some cases 14 to 22 years after certain laws were enacted. MHI has no national image/education campaign, despite over 16 years of ‘talk’ on that topic. MHI is an adult version of the boy who cried wolf, but in the MHI version of the lived tale, MHI keeps crying wolf and apart from critics noted herein, MHI continues to do what they did before their critics complained.

This is why this publication has argued editorially that state officials, and after the new Congress is seated, federal regulatory oversight by lawmakers, must be pushed. Otherwise, the pattern of paltering, “deception and misdirection” and consolidation of the industry by MHI’s leading brands will only continue.

Additional Information with More MHProNews Analysis and Commentary

It must be noted that MHI has arguably been misleading and attempting to deceive their own members for numbers of years. This is hardly the first time. For example. What caused the initial breach of trust between MHProNews and MHI was specifically tied to the discovery how MHI issued an apparently deceptive emailed message to their own members. That deceptive message by MHI was regarding the now conveniently never mentioned Preserving Access to Manufactured Housing Act. Preserving Access, per MHI, had two goals, one of which consumer leaders told MHProNews that they offered to get MHI what they wanted by agreement with the Consumer Financial Protection Bureau (CFPB). Instead of accepting a compromise, MHI reportedly declined the offer from consumer-group leadership. But neither did MHI frankly admit to their own members about the existence of the compromise offer. Instead, they were told that consumer groups were ‘unreasonable’ and that MHI members, the MHI PAC, and intensive lobbying needed to be done to get all of Preserving Access enacted. Years and millions of dollars later, MHI never succeeded during the Obama-Biden Administration. After making a then MHI-VP made a rather embarrassing admission to MHProNews, Jason Boehlert departed and was replaced by Lesli Gooch.

It wasn’t until after the Obama Administration left office that MHI got one of their two stated goals during the Trump Administration. But that deal turned out to be the same provision that MHI could have had years before by agreement with consumer group leaders with the CFPB. So a key part of Preserving Access that MHI leaders, corporate and staff, claimed had to occur or the industry could fail never passed.

In an incident related to MHI’s messaging about Preserving Access, it was demonstrated by a CSPAN video shared with MHProNews by an MHI tipster that MHI had paltered to their own members.

 

When MHProNews pressed for accountability, instead of reprimanding or terminating Richard “Dick” Jennison or Lesli Gooch for deliberately misleading their own members, they got bonuses instead. Who said that they got paid bonuses? MHI’s own IRS Form 990 filings, see the image and report posted above.

 

Gooch eventually de facto replaced Jennison as MHI CEO, in what MHI proclaimed was “MHI 2.0.” In MHI 2.0 Gooch would be CEO, and Mark Bowersox would be President of MHI. But neither character apparently has the intestinal fortitude to stand up to corrupt practices involving MHI which have for years kept the industry underperforming.

Jumping back in time to the Preserving Access period of MHI engagement, to the dark ‘credit’ of MHI’s corporate and staff leaders, their paltering, posturing, and projecting was to some extent convincing. It was only in hindsight that the ruse could be seen, revealed, and understood.

But following the tip from within MHI to MHProNews that revealed the deception that Jennison and Gooch apparently engaged in regarding Preserving Access, this platform began to more carefully observe the behavior of MHI, not just their ‘words.’

In following the deeds more than the words, the observation of MHI award winner Martin “Marty” Lavin proved accurate. MHI’s words were demonstrably window dressing time and time again. Meanwhile, the obvious need to engage in legal action after a reasonable period of lobbying had failed has yet to be launched.

But not all in MHVille deal cards from the bottom of the deck.

For instance, while MHI was posturing and parading about their lobbying efforts to enact Preserving Access, MHARR patiently but persistently kept the industry informed on MHI’s failings for well over a decade.

MHARR additionally pressed for the formation of a new post-production trade group that they could ally with to implement the favorable federal laws that MHARR (and ironically, MHI) helped to enact at the federal level.

The example of accessory dwelling units (ADUs) in California could provide a significant clue as to what might occur for HUD Code manufactured homes if MHI was doing its job properly.

ADUs soared in California after statewide preemption became law. By applying the CA ADU experience as an analogy, manufactured housing could in a few years top 600,000 annually shipments.

Additionally, new manufactured home communities and other single family or developments could be streamlined.

While more could be said here, additional details are found in linked reports. So, the above is sufficient to illustrate these possible takeaways.

A). MHI has used catch phrases and often costly presentations obtained by MHI paying third parties to pitch a notion, such as their CrossMods scheme.

B). A seemingly plausible cover story is rolled out to the industry’s smaller members. The larger members laud the plan.

C). But MHI never released the meeting minutes with the GSEs that may have shed important light on what became the CrossMods scheme.

D). As MHProNews and MHLivingNews often reported, for 2½ years mainstream HUD Code manufactured homes declined in production. That decline demonstrably occurred after MHI declared “momentum” and pushed their “new class of manufactured homes” that was later rebranded by MHI as CrossMods^®. When the extreme push for affordable housing following the declared COVID19 pandemic of 2020 took place, that ended the production/shipment decline. But now, MHI is once more preparing the industry for a ‘downturn.’ Instead of dropping the failed CrossMods scheme, why isn’t MHI spending their dollars on litigation to get the Duty to Serve, enhanced preemption, or to stop the harmful DOE energy rule? Why not promote the truth and the value of mainstream manufactured housing, which offers entry level shade and shelter product and also offers more residential style manufactured homes that can compete in looks and features with site-built housing at a far lower cost?

Having assembled such facts, evidence, and reasoning, MHI has repeatedly ducked accountability with MHProNews. Instead of providing a written response to such allegations and concerns, MHI continues to issue self-congratulatory talking points that fail to produce their intended results.

One need not look beyond the massive con job that FTX and Sam Bankman-Fried (SBF) perpetrated to realize that regulators have time and again failed to head off scams that often-cost investors and the public billions of dollars. Bernie Madoff, WorldCom, and Enron are other examples. Decade-plus long prison sentences were handed down in 2022 to two key officials involved in the Theranos scam.

Anyone who thinks that regulators or public officials catch the bad guys early on fail to consider such in-your-face evidence to the contrary. So, why is it difficult to imagine that MHI was weaponized during the Berkshire Hathaway era of the industry? As this abbreviated romp through examples from manufactured housing industry (MHVille) history reflects scams involving MHI leadership are common enough. As to those who ask, what is the motivation for MHI deploying a scheme such as CrossMods, Preserving Access, or their claims of promoting more financing and overcoming zoning/placement challenges, or the press of the DOE energy rule, MHI plays the same card over and over again. They posture an effort that ultimately fails. Meanwhile, the industry continues to consolidate. Who says? Ironically, several publicly traded MHI members in their respective pitches to investors. They openly say they want to consolidate a fragmented industry.

Who does that pattern harm? Industry independents. Some of those independents which failed were successful for a decade or more before they finally succumbed to this manipulative scheme.

If there is a silver lining to this, it is that the legal system can still be employed. Even though public officials often react late – consider Enron, Madoff, WorldCom, Theranos, the massive subprime fiasco, or FTX/SBF as examples – at a certain point, public officials do ‘step in.’ In fairness, there are often voices that warn of what’s coming, are ignored, but are later vindicated. Whistleblower Harry Markopolos in the Madoff scam comes to mind as an example.

 

 

MHProNews and MHLivingNews continues to spotlight these issues because it is the right thing to do. Millions have arguably been harmed in as much as they are being limited or robbed of their part of the American Dream. MHI and their surrogates have largely stopped trying to directly debunk this thesis, as the evidence only mounts and the only public ‘debate’ on this was arguably won when pro-MHI member Andy Gedo ended up making several useful admissions before dropping out of the virtual ‘debate.’

Other figures such as blogger George Allen have flip flopped so many times that they have arguably thereby diminished their own credibility. One day, criticizing MHI when it suited his purposes, but later, after a purported deal was cut by MHI with Allen that the later found acceptable, Allen went back to praising MHI and their dominating brands without explaining why his prior concerns no longer mattered?

 

It requires attention to details and a broad knowledge of the industry to produce reports like this one. Who says? 50 year manufactured housing veteran and award winner, former MHI VP, and MHARR’s founding president and CEO, Danny Ghorbani.

 

 

But as a result of such details and grasp of the industry, MHProNews has the largest and runaway most read trade media serving the industry. Who says? Beyond third-party generated site metrics that say millions of pageviews with surprisingly high pages per visit totals occurs here annually, other sources tell MHProNews that public officials, corporate leaders, mom and pops, and the rank and file of some of the bigger companies are all among the core audience of MHProNews. Some have been readers here for years. They aren’t coming to get some 400-word fluff piece. If someone wants a fluffer, the case can and has been made that they can reward MHInsider, ManufacturedHomes, or flip-flopping George Allen to name a few. But ironically, some of those are among those who have previously praised MHProNews for our fair and balanced reporting on often tough topics.

 

 

This may explain why even after threatening to sue MHProNews, MHI’s outside attorneys have never done so. After all, how would they explain such prior praise? How would they explain that they haven’t sued HUD, FHFA, Fannie Mae, Freddie Mac, or DOE – but sued MHProNews/MHLivingNews instead? When MHProNews published the article linked here, those threats of litigation magically stopped.  This despite asking MHI to periodically respond to reports like this and despite the posturing by MHI’s outside attorney, shown below.

Some want oral or other gratification from fluffers. They will have to go elsewhere, we don’t do that here. We follow the facts, evidence, the money trail, and lay out the possibilities for motivations so that even if an unexpected accident occurred, the evidence is already published. While it is helpful to have ongoing reporting on these troubling issues, the powers that be in MHVille apparently made the calculation that they are better of trying to pretend that we don’t exist after having praised us for years. It is the con-man’s ploy that is at work.

The allegations of a market consolidation scheme by the larger brands can hardly be called a conspiracy theory when the evidence comes in part from the statements of publicly traded MHI members to investors produced by the companies apparently profiting from the arguably illegal scheme.

The facts when they are laid out in this manner make the following clear. No one focused on the HUD Code manufactured home industry’s trade publishing knows this landscape better than MHProNews. That may explain the increased interest by parties seeking manufactured housing industry experts and MHVille expert witnesses for current or potential litigation. That may also explain why the future appears to hold increased risk for those who have participated in this scheme. Almost inevitably, someone will come forward to blow the whistle from within, hoping to avoid the coming judgement.

Has the Manufactured Housing Industry Become a Target-Rich Environment for Plaintiffs’ Attorneys? Facts, News & Views; plus, Sunday Weekly Manufactured Home Industry (MHVille) Headlines Recap

 

That’s sufficient for now. The bottom line is that MHI has once more admitted to the failure of CrossMods, on top of other failures that they kept doubling down on. In doing so, MHI leaders are allowing more financially frail firms to either sell out at a discounted price or fail. Either is an acceptable outcome for MHI consolidators. This paragraph is summary for the troubling tale of MHVille in a nutshell. MHI postures, promises but then fails. Meanwhile, the industry consolidates. MHI staff get paid bonuses. Those who go along get to party at resort or nice locations several times a year as a paid trip. This is why state and federal officials – along with plaintiffs’ attorneys acting on behalf of shareholders, harmed businesses, and consumers – can become part of the solution before manufactured housing becomes more obvious to the public to be the next FTX, Theranos, WorldCom, Enron, or Madoff scandal. ###

Has MHVille Reporting Forced Pivots? TRERC, TMHA, Manufactured Housing Institute Each Change Tune Following MHARR, MHProNews Reports – Fact Check, Analysis; plus Manufactured Home Community REITs, Stocks Update

Consumers ‘Fears for the Future’-Mortgage Payments Surge Since 2021, Buyers Get Priced Out–Conventional Housing Woes are Manufactured Home Pro Opportunities; plus MHVille REITs, Stocks Update

How Long a Prison Term May Some Manufactured Housing Execs Get from Successful Prosecution? Law360 Clue-11 & 13 Year Prison Terms for Convicted Corp Criminal Fraud; plus MHVille REITs, Stocks Update

https://www.wnd.com/2021/05/solution-big-tech-oligarchs/

 

Daily Business News on MHProNews Markets Segment

The modifications of our prior Daily Business News on MHProNews format of the recap of yesterday evening’s market report are provided below. It still includes our signature left (CNN Business) and right (Newsmax) ‘market moving’ headlines. The macro market moves graphics will provide context and comparisons for those invested in or tracking manufactured housing connected equities.

In minutes a day readers can get a good sense of significant or major events while keeping up with the trends that are impacting manufactured housing connected investing.

Reminder: several of the graphics on MHProNews can be opened into a larger size. For instance: click the image and follow the prompts in your browser or device to OPEN In a New Window. Then, in several browsers/devices you can click the image and increase the size. Use the ‘x out’ (close window) escape or back key to return.

Headlines from left-of-center CNN Business – from the evening of 12.15.2022

• Dow plunges
• The New York Stock Exchange is seen during morning trading on December 02, 2022 in New York City.
• Michael M. Santiago/Getty Images
• Stocks slide sharply as investors consider the Fed’s downbeat economic forecast
• Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from the billionaire investor at Berkshire Hathaway Inc’s annual shareholder meeting in Omaha, Nebraska, U.S., May 4, 2019.
• Warren Buffett is beating the market this year
• 15 TikTok app STOCK
• TikTok may push potentially harmful content to teens within minutes, study finds
• Twitter corporate headquarters building is seen in downtown San Francisco, California, U.S. November 18, 2022.
• Former employees suing Twitter over layoffs score an early victory
• Cheesy Jalapeño Mexican Pizza Combo.
• Taco Bell is testing two new Mexican Pizza varieties
• Woman construction worker STOCK
• As more men leave the workforce, women are stepping in to fill those jobs
• 02 Uber Eats robot delivery service
• Uber Eats launches robot delivery service in Miami
• Residents queue at a fever clinic in Beijing, China, on Tuesday, December 13, 2022.
• Why people in China are panic buying canned yellow peaches as Covid surges
• nightcap 12152022 16×9 logo
• VIDEO
• Elon Musk’s ‘wild man strategy,’ the next crypto shoe to drop, and the TikTok boogeyman
• Mortgage rates drop for fifth week in a row
• Massive changes could be coming to the way the stock market functions
• Actor rips crypto as ‘largest Ponzi scheme in history’
• What to do about the highest interest rate in 15 years
• Senate passes legislation to ban TikTok from US government devices
• Bernard Arnault just became the world’s richest person. So who is he?
• No ‘pivot’ in inflation fight, but central bankers are easing up
• Jobless claims fall to lowest level since September
• Elon Musk sells another 22 million Tesla shares for $3.6 billion
• Retail sales have dropped significantly
• Why Tom Brady, David Ortiz, Jimmy Fallon and other celebrities are getting sued over crypto
• British nurses launch historic strike, as pay and staffing crises threaten the NHS
• Parents of Sam Bankman-Fried face scrutiny over their roles in FTX
• ‘The mood is really grim’: Washington Post staffers livid at publisher Fred Ryan after layoff announcement

 

Headlines from right-of-center Newsmax 12.15.2022   

• GOP Sens Press DOJ to Close Israeli Defense Forces Probe Tied to Journalist’s Death
• A woman prays in memory of veteran Al-Jazeera Palestinian journalist Shireen Abu Akleh, who was shot dead while covering an Israeli army raid in Jenin, at the the Church of the Nativity in the West Bank biblical city of Bethlehem on May 11, 2022.
• “… We are dismayed the DOJ and FBI are seeking to disregard Israeli sovereignty by inserting itself into an investigation which has concluded and which U.S. officials participated in,” read the Republicans’ letter. “The investigation highlights DOJ and FBI’s overreach and politicization of investigations.”
• Comer: From ‘Bottom Up’ to Fauci, Grillings Ahead | video
• Marshall: TikTok Gives China ‘Window Into Americans’ Lives’ | video
• Gonzales: Border Crisis Is ‘What They Want’ | video
• Grothman: Some People Set on ‘Ruining America’ | video
• Steube: My Sec. 230 Bill Would Hit Big-Tech Censorship
• Blaine Holt: Patriot System No Game Changer for Ukraine | video
• Kirk Cameron: Let’s Take Back ‘Story Hour’ | video
• Eric Trump: Twitter’s Jack Dorsey ‘Lied to Congress’ About Shadow Banning | video
• More Newsmax TV
• Newsfront
• What the Dickens? 75 Percent Say We’ve Forgotten Real Meaning of Christmas
• A full 75% of Americans say people have forgotten the real meaning of Christmas, according to an Ipsos poll released Thursday. The survey also found that 12% of Americans think Mariah Carey’s “All I Want for Christmas Is You” is the most annoying and/or overplayed …… [Full Story]
• Top Ukrainian General: ‘I Have No Doubt’ Russia Will Attack Kyiv Soon
• Valerii Zaluzhnyi, commander-in-chief of the Ukrainian Armed Forces, [Full Story]
• Biden Boating Plan Not Needed, Opponents Say; Would Kill Coastal Economy
• A proposal by the Biden administration to slow 35-foot vessels to 10 [Full Story]
• ‘Tripledemic’ Masking Push Throws ‘Evidence-Based Medicine Out the Window’
• Despite an abundance of evidence that cloth masks were ineffective at [Full Story] | Platinum Article
• Annoyed Pelosi Evades Questions About Serving Full Term
• House Speaker Nancy Pelosi, D-Calif., on Thursday avoided a question [Full Story]
• Heavy Shelling in Russian-Controlled Ukraine as Christmas Truce Ruled Out
• Ukrainian forces staged their heaviest shelling attack in years in [Full Story]
• Related
• Russia Warns of ‘Consequences’ If US Missiles Sent to Ukraine
• Scholtz: Germany Would Resume Trade With Russia If It Ends War
• Report: Russia Used Separate Chamber to Torture Children in Kherson |video
• Russia Prepares ICBM More Powerful Than Hiroshima Bomb
• Ukrainian Official Claims Russia Kidnapped 13,000 Kids |video
• Deadly Russian Shelling Cuts Off Kherson Power
• Congress OKs Bill to Remove Bust of Dred Scott Chief Justice
• Congress approved legislation to replace a bust at the U.S. Capitol [Full Story]
• The 5 Biggest ‘Twitter Files’ Revelations So Far
• Twitter’s new owner and CEO Elon Musk has exposed the inner workings [Full Story] | Platinum Article
• Wall St Slumps as Fed Heightens Recession Fears
• S. stock indexes closed sharply lower on Thursday, with each of the [Full Story]
• National Archives Releases Documents Related to JFK Assassination
• The U.S. National Archives on Thursday released thousands of [Full Story]
• Rasmussen Poll: Nearly Half Give Biden Poor Marks on Economy
• Eighty-six percent of likely voters are still concerned about the [Full Story]
• Study: US Parkinson’s Disease Incidence 50 Percent Higher Than Previous Estimates
• The annual number of new Parkinson’s disease diagnoses in the United [Full Story]
• Southern California Water Supplier Declares Drought Emergency
• Southern California’s main water supplier this week declared a [Full Story]
• Report: CNN Anchor Ana Cabrera Leaving for TV Role at Rival MSNBC
• CNN daytime anchor Ana Cabrera will be leaving the network for an [Full Story]
• Wenstrup: COVID Probe, Report ‘Not Vindictive’
• Brad Wenstrup, who’s leading the House GOP investigation into [Full Story]
• House Democrats Pass Referendum to ‘Decolonize’ Puerto Rico
• The U.S. House passed a bill Thursday that would allow Puerto Rico to [Full Story]
• Trump ‘Major Announcement’: Digital Trading Card Collection
• Former President Donald Trump’s self-proclaimed “MAJOR [Full Story]
• Lengthy Prison Terms for 3 Who Aided Whitmer Kidnap Plotter
• A judge on Thursday handed down the longest prison terms so far in [Full Story]
• Trump Vows to Squash Feds on Censorship
• Former President Donald Trump on Thursday pledged to prohibit federal [Full Story]
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====================================

Updated

• NOTE 1: The 3rd chart above of manufactured housing connected equities includes the Canadian stock, ECN, which purchased Triad Financial Services, a manufactured home industry finance lender.
• NOTE 2: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).
• NOTE 3: Deer Valley was largely taken private, say company insiders in a message to MHProNews on 12.15.2020, but there are still some outstanding shares of the stock from the days when it was a publicly traded firm.  Thus, there is still periodic activity on DVLY.
• Note 4: some recent or related reports to the REITs, stocks, and other equities named above follow in the reports linked below.

Manufactured Housing Properties-Results for Three and Nine Months Ending September 30.2022–Exploring ‘Mobile Home Park’ Manufactured Home Community Investing; plus MHVille REITs, Stocks Update

Manufactured Housing’s Next BIG Regulatory Battle That MHARR’s Spotlighted and Which MHI Conveniently Ignored in Recent ‘Manufactured Housing Institute News;’ plus Sunday Weekly Headlines Recap

‘Changes Will Benefit Customers,’ Boost Sales-Legacy Homes CEO Duncan Bates – LEGH ‘Delivered 22.5% Return on Equity in 1 Yr’ – Corp Q3 2022 Insights, Analysis; plus MHVille REITs, Stocks Update  

‘No Assurance Inflation Will Not Affect Our Future Profitability Financial Position’=Cavco Industries 10-Q, Solitaire Deal, More CVCO Data; Supreme Court Ruled-SEC Regs on False-Omitted Remarks

Skyline Champion Provides Quarterly Results, Adding Retail Centers, Improved Delivery Times-CEO Mark Yost Says ‘Can Outperform Conventional Housing’ Explored; Plus MHVille REITs, Stocks Update

Triad Financial Services Q2-2022 FINANCIAL RESULTS, per ECN Capital – Several Bright Spots in Manufactured Home Market Highlighted, Including Communities, Retail, Land-Home, Floor; MHStocks Update

Manufactured Home Communities (a.k.a. ‘Mobile Home Parks’ – SIC) – Exploring UMH Properties; Fellow Manufactured Housing Institute Member Yes! Communities Suits and Settlements; plus MH Markets Updates

2022 …Berkshire Hathaway is the parent company to Clayton Homes, 21^st Mortgage, Vanderbilt Mortgage and other factory-built housing industry suppliers.
· LCI Industries, Patrick, UFPI, and LP each are suppliers to the manufactured housing industry, among others.
· AMG, CG, and TAVFX have investments in manufactured housing related businesses. For insights from third-parties and clients about our publisher, click here.

Disclosure. MHProNews holds no positions in the stocks in this report.

· For expert manufactured housing business development or other professional services, click here.
· To sign up in seconds for our industry leading emailed headline news updates, click here.

That’s a wrap on this installment of “News Through the Lens of Manufactured Homes and Factory-Built Housing” © where “We Provide, You Decide.” © (Affordable housing, manufactured homes, stock, investing, data, metrics, reports, fact-checks, analysis, and commentary. Third-party images or content are provided under fair use guidelines for media.) (See Related Reports, further below. Text/image boxes often are hot-linked to other reports that can be access by clicking on them.)

By L.A. “Tony” Kovach – for MHProNews.
Tony earned a journalism scholarship along with numerous awards in history. There have been several awards and honors and also recognition in manufactured housing. For example, he earned the prestigious Lottinville Award in history from the University of Oklahoma, where he studied history and business management. He’s a managing member and co-founder of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com. This article reflects the LLC’s and/or the writer’s position and may or may not reflect the views of sponsors or supporters.

 

 

 

 

 

 

 

Manufactured Home Production Growth Continues in September 2022, per Manufactured Housing Association for Regulatory Reform-Added Facts, Analysis, plus MHVille REITs, MH Connected Stocks Update

Consumers ‘Fears for the Future’-Mortgage Payments Surge Since 2021, Buyers Get Priced Out–Conventional Housing Woes are Manufactured Home Pro Opportunities; plus MHVille REITs, Stocks Update