Periodic readers of this business-nightly feature should note there are new tweaks to some of the standard portions of our evening market/investing report. Read carefully as some changes of the ‘standard text’ that follows before our left-right headlines and also in other features near the end of tonight’s reports.
Every evening our headlines that follow provide snapshots from two major media outlets on each side of the left-right news spectrum that reflect topics that influence or move investor sentiment. In moments on this business evening report, you can get ‘insights-at-a-glance.’
This report also sets the broader context for manufactured housing markets, in keeping with our mantra, “News through the lens of manufactured homes and factory-built housing” ©.
We begin with headlines left-of-center CNN followed by right-of-center Fox Business. We share closing tickers and other related data courtesy of Yahoo Finance, and more. 5 to 10 minutes reading this MHProNews market report every business night could save you 30 minutes to an hour of similar reading or fact-gathering elsewhere.
Perhaps more important, you will get insights about the industry from experts that care, but also dare to challenge the routine narrative that arguably keeps manufactured housing underperforming during an affordable housing crisis.
Newsy, Peeling Back Media Bias, Manufactured Housing Sales, Investing, Politics, and You
Headlines from left-of-center CNN Business
- Investors on the sidelines
- Stocks are near record highs, but many people are sitting out this bull market
- Tesla will sell new shares to raise up to $2.3 billion
- Wayfair is cutting 550 jobs
- Kraft Heinz shares slide 8% as shoppers skip processed food
- IRS quietly deletes guideline that Fortnite virtual currency must be reported on tax returns
- Judge blocks Microsoft from starting Pentagon cloud contract, handing early win to Amazon
- Use Amazon, Uber or Walmart.com? You’ve probably signed away your right to sue them
- Disney’s ‘Mulan’ was supposed to be a big hit in China. The coronavirus could threaten that
- Disney just raised one of its key ticket prices to more than $200
- We tried out the Galaxy Z Flip phone. Samsung could be onto something
- The war for the best high-end smartphone is leading to ridiculous prices
- Rihanna’s lingerie line accused of deceptive marketing tactics
- Newspaper chain McClatchy files for bankruptcy
- Uber is testing a 1-800 number for people who don’t use apps
- ‘The evenings are empty.’ People in China are using video games to keep each other company
- This pricey drink was sold by text message. Now it’s hitting Walmart shelves
- CHANGES IN THE C-SUITE
- Jes Staley, Barclays CEO under investigation over links with Jeffrey Epstein
- Credit Suisse CEO resigns after spying scandal
- Ford shakes up management after dreadful outlook
- Turmoil in the cannabis business claims another CEO
- Goldman Sachs executive permanently banned from working in banking industry
- THE BOTTOM LINE
- Nissan’s profits are plummeting. It’s bracing for even more pain
- SoftBank profits plunge 99%
- Exxon’s market value has crumbled by $184 billion
- How a beloved organic grocery chain collapsed
- Ford’s 2019 profits wiped out by a tough fourth quarter
Headlines from right-of-center Fox Business
- REAL ESTATE
- Home prices spiking in most affordable markets
- An inventory crunch and an influx of first-time homebuyers are creating price headwinds in many markets across the U.S., including the metro areas that have traditionally been the most affordable.
- Bloomberg under fire for 2008 comments about financial crisis
- Trump, Bloomberg go at each other on Twitter as White House race heats up
- The newest 5-star hotels in the US, according to Forbes
- Coronavirus shuts China hotels, stocks take a hit
- More coronavirus cases reported in US: Where they are, what you need to know
- Coronavirus patients use dance to stay positive in Chinese hospital
- Valentine’s Day — How much should you really spend on your special someone?
- Who is Hunter Biden’s wife, Melissa Cohen Biden?
- Warren Buffett’s son makes $200 million pledge
- How much does AOC earn?
- Steyer calls out Sanders, demands to see price tag on health care plans
- Trump will attend Daytona 500, NASCAR says
- Wayfair slashes 550 jobs, stock tumbles
- Weinstein lawyer goes nuclear on #MeToo in closing arguments
- Bloomberg sets social media on fire with controversial new ad campaign
- Insider’s bold claim about Loughlin’s knowledge of kid’s bogus resume
- California’s fight with Republicans, businesses escalates to new level
- Walmart shuts down Jet black personal shopping service
- Hope Hicks returning to White House
- How much Taylor Swift is worth
- Varney: Democrat divide widens into civil war
- These retailers are expecting coronavirus to destroy revenue
- What is Jerry Jones’ net worth?
- Cuomo: Feds blocking Global Entry isn’t about safety, here’s what it’s really about
- Life aboard quarantined coronavirus cruise ship: Fear, boredom, adventure
- New robocall law will take time to have an impact, lawmaker says
- Preserved roses, a new Valentine’s Day favorite, last up to a year
- New robocall law will take time to have an impact, lawmaker says
- MLB spring training an economic home run in Florida, Arizona
- KFC cooks up themed Crocs in chicken sandwich wars
- Hamptons mansion with Hollywood ties lists for $27M
- Cannabis company posts $985 million loss as revenue tumbles
- One of the biggest US news publishers files for bankruptcy protection
- Hospital operator CEO under investigation for mismanagement
- Darius Rucker’s ‘Wagon Wheel’ goes eight-times platinum
- SEE INSIDE: Jeff Bezos smashes LA real estate record with mega-mansion purchase
- ‘Thought I knew him’: Top bank CEO breaks silence after Epstein ties emerge
- Tesla selling $2 billion of new stock after frenzied price gains
- The safest cars on the market right now
- Colin Kaepernick plans memoir about national anthem protest
- WATCH: Snoop Dogg apologizes to Gayle King for Kobe Bryant
- Stocks drip as China reports more than 15,000 new coronavirus cases
- The essential resource entrepreneurs are overlooking, but shouldn’t
- Dating app loophole allows profiles to reappear after they’ve been rejected
- Trump’s Fed choice Judy Shelton faces key Senate test
- What is Global Entry?
- Economists: Coronavirus will hit US economy growth in first quarter
- Sudan settles with families of sailors killed in USS Cole attack
- Gerber’s spokesbaby contest has bundles of joy lining up for prize
- FDA recalls insulin pumps tied to over 2,000 injuries, 1 death
10 Market Indicator Closing Summaries – Yahoo Finance Closing Tickers on MHProNews…
Featured Focus – Where Business, Politics and Investing Can Meet
In the year 2000, the Manufactured Housing Improvement Act (MHIA) was passed into federal law after a combined effort by the Manufactured Housing Association for Regulatory Reform (MHARR), the Manufactured Housing Institute (MHI), and the Texas Manufactured Housing Association (TMHA) leadership all agreed and began to execute a plan of action.
Before and after that date, there was an era of cooperation between MHI, MHARR and state associations. Part of that is reflected in the screen capture below. That document was once found on the MHI website, but now, if it is still there, it is hidden behind a firewall. The only reason MHProNews has this document is as a result of a news tip from an informed source. More on the item below at this link here.
What changed after 2003? Why is there tension between MHI and MHARR today? On paper, MHI and MHARR both have said that they want to enforce federal laws. Here is an example from MHI where – on paper – MHI took a very similar tone to what MHARR has done.
But unlike MHI, MHARR – whose website has been online for only a few years vs. over 2 decades for MHI’s website being online – totally skunks MHI in mentions of a key phrase, “enhanced preemption.”
Here’s why that matters. The first gentleman was the administrator at the Office of Manufactured Housing Program (OMHP) at HUD. The second was involved in drafting the language of the Manufactured Housing Improvement Act of 2000. Both are well versed in the law.
Mark Weiss’ recent interview goes into depth on such issue, see that, linked here.
With that backdrop, here’s the evidence of how each national trade association actually handles this same issue on their own websites.
The point is simple. Zoning and placement, along with financing and concerns over image, are issues that manufactured housing has struggled with for years. That’s true even though third party research has debunked the key concerns that are routinely raised.
MHI’s leadership well knows what needs to be done. How do we know? Because their former chairman said in succinctly in the quoted statement below.
If someone does a Google search tonight for enhanced preemption, here are the visible results under the ‘all’ search tab.
If someone does a search under the mainstream ‘news’ tab on Google, there is only 1 result.
That result on Google News is linked below.
Here is how that letter linked above was submitted to that newspaper. Note that a publisher has the right to reject a letter entirely, to strip out links if they so desire, or to change the suggested headline if they want to publish a letter. That said, here is how that was submitted.
What’s Missing from HUD Secretary Carson’s Affordable Housing Tour Stop in Russellville
The Times Daily reported HUD Secretary Ben Carson’s “Driving Affordable Housing Across America” bus tour that stopped at the Clayton Homes plant in Russellville, AL. While Secretary Carson has arguably done more to promote a proper understanding of manufactured homes than any of his 21st century predecessors, several things are missing that impacts most taxpayers, conventional housing owners, manufactured homeowners and renters.
What’s missing is summed up with “promote a proper understanding of the facts” and “enforce existing laws.”
A lack of affordable housing where needed costs, per third-party research linked here, some $2 trillion dollars annually in lost GDP.
There was no need for a ‘new class’ of manufactured homes that Clayton Homes and the Manufactured Housing Institute are promoting as “CrossModTM homes.” Homes with upgraded features have been built in various Alabama factories for years. Deer Valley, Franklin Homes and Sunshine Homes are just some manufactured home builders in Alabama building with higher roof pitches or upgraded features.
The Manufactured Housing Improvement Act of 2000 provided for federal “enhanced preemption” over local zoning. The Housing and Economic Recovery Act of 2008 mandated the “Duty to Serve” manufactured housing and underserved markets. As the industry’s top trade publisher, I spoke in Washington, D.C. on Dec 2nd, 2019 on these issues. Federal laws aren’t properly enforced. Millions can’t afford $200,000+ housing. Realtor University said many need $50,000 to $100,000 manufactured homes. Dr. Carson, please enforce existing law. ##
L. A. ‘Tony’ Kovach
Lakeland, FL 33813
##
That begs the question. Why hasn’t MHI done something like the above? After all, they have a public relations budget and a sizable full-time team. Furthermore, while Berkshire is shedding their BH Media division, for 15 years, if they had so desired, they had dozens of newspapers that they could have published articles in their own newspaper if they had so desired.
Isn’t it obvious that the powers that be don’t desire that the powerful legal phrase “enhanced preemption” be widely known?
Ponder that in the light of investments in manufactured housing connected firms. Because using the logic of eliminating zoning barriers and bringing more competitive financing online, it is self-evident that sales would rise significantly.
Do you think consolidation is more important to some of these MHI member publicly traded firms?
See the related reports for more.
Related Reports:
“Scorched Earth” Reply-Lesli Gooch, Tim Williams, and Manufactured Housing Institute (MHI) Claims
MHI, MHARR Competing Narratives – Photo and Video Ops vs Straight Talk in Manufactured Housing
Manufactured Housing Industry Investments Connected Closing Equities Tickers
Some of these firms invest in manufactured housing, or are otherwise connected, but may do other forms of investing or business activities too.
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- NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services, a manufactured home industry lender
- NOTE: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).
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Winter 2020…
Berkshire Hathaway is the parent company to Clayton Homes, 21st 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.
Enjoy these ‘blast from the past’ comments.
MHProNews. MHProNews – previously a.k.a. MHMSM.com – has now celebrated our tenth anniversary.
Learn more about our evolutionary journey as the industry’s leading trade media, at the report linked below.
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Disclosure. MHProNews holds no positions in the stocks in this report.
(Image credits and information are as shown above, and when provided by third parties, are shared under fair use guidelines.)
Submitted by Soheyla Kovach, co-managing member of LifeStyle Factory Homes, LLC and co-founder for MHProNews.com, and MHLivingNews.com.
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