indystar reports two subsidiaries of Drew Industries, Inc., of New York announce their joint $4 million-plus expansion plan will mean 330 new jobs in Elkhart County, Indiana in 2012. Lipppert Components Manufacturing, Inc., of Goshen, and Kinro Manufacturing, Inc., of Middlebury, IN both manufacture components for the MH and RV …
MH Component Sister Companies Produce 330 New Jobs Read More
HousingWire reports from San Francisco that while the number of houses sold increased Sept. 2010 to Sept. this year by 6.6 percent, the usual Aug.-Sept. seasonal drop in home prices was 10.2 percent. John Walsh, president of DataQuick says what’s interesting is what is not happening. He says, “While there …
dailytelegraph tells us from Sydney, Australia, the U.S. is not the only country where the gap between income and real estate prices is widening. Sydney’s home prices are expected to rise 19 percent in the next three years, to a median of $770,000. “The big problem with affordability is housing …
HousingWire reports the Mortgage Banker’s Association (MBA) says the measure of loan application volume rose 1.3 percent on a seasonally-adjusted basis this past week. The refinance and purchase indices each increased just over one percent, driven by government loans. The 30-year fixed-rate mortgage (FRM) increased 0.07% to 4.25, while the …
OriginationNews reports that two years after leaving affordable housing developer Bridge Housing Corporation to run the Federal Housing Administration’s (FHA) multi-family program, Carol Galante is operating the entire agency. After David Stevens left the FHA to head the Mortgage Banker’s Association (MBA), Galante has become the acting commissioner. She now …
HousingWire reports from Zillow that housing prices gained a meager 0.01 percent August over July, with minimal gains in only 68 of the 157 markets covered. The average home price dropped 4.5 percent from August 2010 to $172,600, and is off 28.3 percent since the high mark of June 2006. …
The National Mortgage News reports the acting head of the Consumer Protection Finance Bureau (CFPB), Raj Date, speaking at the annual Mortgage Bankers Association (MBA) convention, offered to work with the bankers to help resolve the housing crisis. But MBA President David Stevens, noting their responsibility in creating the crisis, …
Bloomberg reports Peter R. Orszag, vice chairman of global banking at Citigroup and an adjunct senior fellow at the Council on Foreign Relations, says the weak housing market holds down the weak economy, and vice versa. He says the quickest path to economic recovery would be for the government to …
Immediate Depreciation for Abandoned House Investment Could Spur Economy Read More
villagesoup reports a survey of 3,000 renters and home owners showed 68 percent say it is a good time to buy a home, although the tight credit and uncertain job market continue to dog actual sales. “We thought people would be soured after watching home values fall, but instead we …
Would-be Homeowners Dream, Economy Screams, “Not Yet” Read More
ArgusLeader reports modular producer Builders Choice will open in Vermillion, South Dakota, later this month adding 30 jobs initially, with expectations to double that number by year’s end 2012. Company president Mark Larson says this site was chosen for the available labor, central location, and access to transportation. The Anchorage-based …
Alaska Modular Builder to Begin Production in S. Dakota Read More
DailyItem reports from Pennsylvania that two modular home builders, Integrity Building Systems Inc., of Milton, and Icon Legacy Custom Modular Homes LLC, of Selinsgrove, have agreed to merge operations by year’s end. Icon Legacy, owned by Don Stimley, has been in business four years in Selinsgrove. Stimley will lead the …
WorldPropertyChannel reports National Association of Home Builders (NAHB) assistant vice-president and economist Robert Dietz says eliminating or reducing the mortgage interest deduction (MID) would hurt the chances for younger families to buy homes, as well as damage the already shattered housing industry and the economy in general. Testifying before the …
The Manufactured Housing Association for Regulatory Reform (MHARR) reports that manufactured housing production for August 2011 increased six percent over August 2010, the first monthly increase in 12 months. Statistics from the department of Housing and Urban Development (HUD) show that HUD Code manufacturers produced 5,187 homes in August. Cumulative …
MHARR Notes Increased MH Production, Continues Call for Parity Read More
On Sept. 22, Danny Ghorbani of the Manufactured Housing Association for Regulatory Reform (MHARR) reports a joint delegation of MHARR and MHI (Manufactured Housing Institute)-member executives and staff met with Ms. Carol Galante, the new Acting HUD (Housing and Urban Development) Federal Housing Commissioner-Assistant Secretary for Housing. As reported previously …
Industry Association Members Meet with HUD Housing Commissioner Read More
CNNMoney reports The Dow Jones Industrial Average re-gained small ground today, moving up 37.65 points on the heels of a near seven percent loss for the week, it’s worst since Oct. 2008. It closed at 10,771.48, a gain of 0.35 percent. Yahoo!’s Manufactured Housing Composite gained 2.05 percent to end …
Investors Losing Faith in World leaders and Economies Read More
HousingWire reports the Federal Housing Finance Agency (FHFA), the conservator of Fannie Mae and Freddie Mac, said home prices moved up slightly in July 0.8 percent, but are down for the year ending July 31 by 3.3 percent. Prices are 18.4 percent below the high point in April 2007, although …
Slight Increase in Home Prices Reflects Stagnant Housing Market Read More
Weak manufacturing date from China and concerns about Greece’s economy sent the Dow Jones Industrial Average plunging -3.51% to close at 10,733.83, a loss of -391.01 points. The Yahoo! Finance Manufactured Housing Composite Value declined .84% to 731.9, but housing stocks closed mixed. Affiliated Managers Group 78.56 -2.22 (-2.75%)). Clayton …
Stock Prices Fall 4% as Fear for Global Economy Dominates Market Read More
The Manufactured Housing Association for Regulatory Reform (MHARR) reports the “General” Subcommittee of the Manufactured Housing Consensus Committee (MHCC) met by telephone conference Sept. 20 to discuss accessibility proposals that have been dormant for nearly ten years and would impact the cost of production. They were revived Oct. 2010 by …
Bloomberg News reports sales of previously owned homes rose to 7.7 percent in August, according to the National Association of Realtors (NAR). Sales of existing single-family homes rose to their highest level since January, rising 8.5 percent to a seasonally-adjusted rate of 4.47 million. The August figures compare to the …
TruliaPro says the results of a recent survey show 80 percent of 2,207 American adults polled envision the purchase of a home in their lifetime. Despite the recent housing slump, concerns over employment, credit scores, and saving for a down payment, 65 percent of the respondents maintain home ownership continues …
