MHProNews.com has learned from MassLive the Blu Homes factory in East Longmeadow, Massachusetts, which opened in 2010, has closed and production facilities have relocated to Vallejo, California. While the sales office and design studio will remain in Waltham, MA, spokeswoman Dana Smith says, “It’s not about what went wrong in […]
Modular Plant Moving East to West Read More
According to an October survey of 1,500 homeowners conducted byYahoo Real Estate, Origination News tells MHProNews.com one-third of the respondents know someone who has been through foreclosure, and 51 percent say the federal government should do more to assist distressed borrowers. Twenty-seven percent said the government should do no more,
Half of Survey Respondents Want Energy Efficient Home Read More
The Motley Fools’ Robert Eberhard tells MHProNews.com an investment in Berkshire Hathaway (NYSE:BRK-B) stock benefits from being a company, or stock, hand-picked by Warren Buffett. Eberhard compares it to investing in a no-loan mutual fund. The stock is less expensive than it has been recently, and Berkshire’s board has authorized
Buy Buffet’s Brain, says Analyst Read More
MHProNews.com has learned from NationalMortgageNews that Richard Cordray, the new head of the Consumer Financial Protection Bureau (CFPB), says the agency will review procedures used by nonbank mortgagers and servicers beginning next month. Examination procedures have been published, and companies will be notified before the examination to make certain they
Nonbank Lenders: CFPB Will be Knocking Soon Read More
Lender Processing Services, a leading provider of technology, data and analytics for the mortgage and real estate industries, announced this week that according to its research the national average home price for transactions during October 2011 was $200,000 – a decline of 0.8 percent during the month relative to September,
Index Shows U.S. Home Prices Declined 0.8 Percent to Late 2002 Read More
According to CoreLogic’s Home Price Index, home prices for November 2011 fell 4.3 percent compared to November 2010. For the fourth consecutive month in a row home prices declined, falling 1.4 percent October to November, 2011. Mark Fleming, CoreLogic’s chief economist, is quoted in HousingWire saying, “With one month of
Home Prices Continue Downward Read More
The National Association of Home Builders (NAHB) tells MHProNews.com that its First American Improving Markets Index (IMI) indicates the number of housing markets registering measurable improvement now numbers 76, up from 41 in December, 2011. The index measures housing permits, employment, and house prices for six months in a row
NAHB: Housing Markets Showing Marked Improvement Read More
CNBC tells MHProNews.com the Obama administration’s plan to speed-up the housing recovery process may be to sell government-owned foreclosed real estate in bulk to investors who will then rent the properties. Since banks may be reluctant to finance the purchases, the government may offer a subsidy to the investors by
Solution to Foreclosed Properties? Read More
Before the housing bubble burst, builder Howard Kipnes would buy land speculatively and then build the home upon receiving a contract. That ended with the housing bust. Newsdays tells MHProNews.com that according to the U.S. Census Bureau, permits for single-family homes on Long Island, New York, fell to 90 in
Long Island Builder Moves to Modular Read More
MhproNews.com has learned from the HuffingtonPost that Federal Reserve Chairman Ben Bernanke says foreclosure is not a good way to deal with delinquent mortgage holders because it leads to deteriorating houses and depression of area home prices. In a report sent to the housing affairs and banking services committees of
Bernanke: Aggressively Avoid Foreclosure Read More
Florida author Jim Boeglin tells MHProNews.com that while economists study manufacturing reports, employment numbers, building permits, consumer confidence surveys, etc., to tap into the state of the U.S. economy, he counts dump trucks. Writing in the NaplesNews, he says from 2003 to 2006 Southwest Florida was crawling with dump trucks.
Dump Truck Economic Index Read More
MHProNews.com has learned from NationalMortgageNews the minutes from the Federal Open Market Committee (FOMC) meeting Dec. 13 reveal disappointment that attempts by the government to stimulate a housing recovery, combined with low interest rates and increasing employment, has had little effect. Response to the expansion of the Home Affordable Refinance
FOMC Notes: What to Do, What to Do? Read More
HousingWire reports David Blitzer, chairman of Standard & Poor’s Index Committee, says when current home prices are adjusted for inflation, they are back to 2001 levels. This suggests the rapid rise and decline of home prices did little more than create havoc for the economy. “Allowing for a dip in
Home Ownership: Good Investment? Read More
RealtorMag quotes Frank Northaft, chief economist at Freddie Mac, as saying, “”Mortgage rates ended the year hovering near historic lows in an already affordable housing market,” noting the 3.95 percent mortgage rate for the 30-year FRM. The rate only crossed the five percent line twice in 2011. He says a
Freddie Mac: Sales Should Rise this Year Read More
MHPronews.com has reported several times about the North Dakota oil boom that is drawing thousands seeking well-paying jobs, spiking the demand for ASAP housing. “Man camps”, modular dormitories for mostly male oil field workers have sprung up around Williston, ND. Some people are sleeping in cars, tents, and RVs. The
The Other Side of the ND Housing Shortage Read More
According to the Harvard University Joint Center on Housing Studies, in the first half of the decade 1.3 new households formed each year, but that fell to less than one million a year since 2005. Part of that is declining immigration, but 20-30 year-olds who have been reluctant to form
Pent-up Demand Will Drive Housing Market Read More
The Telegram reports from Worcester, Massachusetts, that building permits for single and multifamily dwellings were down 55 percent for the first ten months of 2011. Timothy M. Warren, chief executive of the Warren Group, which publishes Banker and Tradesman, tells MHProNews.com he expects home sales to increase slightly in 2012,
Hopes for Housing Recovery in Central MA Read More
Following up on a story we posted Feb. 14, 2011, Stardust Cruisers in Wayne County, Kentucky, finished two prototype modular homes recently sited on foundations. Boat sales have declined with the drop in the economy, and the company was seeking an alternative product. In a collaborative effort with the University
NationalMortgageNews tells MHProNews.com a survey by mortgage lender Lending Tree reveals Americans who can afford to buy homes are putting 12 percent down on average, even more where the property is more expensive. While some regulatory proposals push for down payments of 20 percent in order to be exempt from
High Down Payments Still Roil Many in Industry Read More
CEO of StreetTalk Advisors Lance Roberts sees home prices continuing to fall another 10-15 percent, and overall economic growth will be about one percent, lass than half of other analysts who are predicting 2-2.5 percent growth. In an interview with HousingWire he says, “ There is a current belief that
Home Prices: More Room to Fall Read More
