In the 20 years from 1991 to 2011, the number of owner-occupied homes grew from 59.8 million to 76.1 million, a gain of 27 percent, while the number of renter-occupied homes rose from 33.4 million to 38.8 million, according to surveys conducted by the U. S. Department of Housing and …
Homeownership has Grown Steadily; Rentals are now Surging Read More
Charged with “illegally blocking borrowers’ attempts to save their homes,” the Consumer Financial Protection Bureau (CFPB) has fined Flagstar Bancorp $37.5 million for violating the agency’s mortgage servicing rules, reports housingwire.com. Flagstar allegedly took excessive time to process borrowers’ applications for foreclosure relief, denied loan modifications to qualified borrowers, and …
Flagstar Charged with Violating Mortgage Servicing Rules Read More
Frank LaCrosse and Jib Turner are building small, modular homes in Little Current, Ontario, Canada—inexpensive to heat, maintain and afford. The 600-1,000 square foot homes have safe spray foam between the lightweight steel studs, in advance of the drywall, and the outside is an exterior insulation and finishing system, called …
Builders Betting on Small Modular Homes in Northern Ontario Read More
According to housingwire.com, the latest CoreLogic report indicates 946,000 properties regained positive equity in the second quarter of 2014, increasing borrower equity year over year by an estimated $1 trillion. The number of homes that remain in negative equity has fallen from 7.2 million, or 14.9 percent of all homes …
More Underwater Homes are Beginning to Float again Read More
In a story MHProNews has been following since earlier this year, and last posted an article July 30, 2014, regarding Wyoming Homes owner David Valenti being charged with theft for selling modular homes and not delivering, a Freeland, Penn. women was awarded $59,060.28 in damages for a home that was …
Penn. Women Awarded $60k over Mangled Modular Home Deal Read More
While sales of existing homes fell 1.8 percent in August, as MHProNews reported Sept. 23, sales of newly-built, single-family homes rose 18 percent in the same month, hitting a seasonally-adjusted annual rate of 504,000 units. The National Association of Home Builders (NAHB) reports this was the best pace in six …
While current Federal Aviation Administration (FAA) rules prohibit the use of Unmanned Aerial Vehicles (UAVs), commonly called drones, for commercial purposes, the National Association of Realtors (NAR) has sent a letter to the FAA asking for an exception since their motives have nothing to do with safety concerns. The NAR …
Heiden Homes Realty has added Kathy Tompkins as a realtor to the staff in Grand Junction, Colorado, according to gjsentinel.com. Tompkins owns Manufactured Home Parts, established in 2000, and as an unlimited general contractor, specializes in manufactured home sales and construction at Royal T’s Construction, LLC. The company also remodels, …
Realtor Adds Manufactured Home Specialist to Staff Read More
The closing rate for mortgage originations hit a three-year high in August, according to Ellie Mae, which calculated an overall closing rate of 61.1 percent, almost four percentage points higher than July. Ellie Mae’s President Jonathan Corr noted lenders are working hard to maintain leads, as nationalmortgagenews.com reports. The monthly …
The National Association of Realtors (NAR) informs MHProNews that sales of existing homes fell 1.8 percent across the country as investors continue to leave the market, making more homes available for individuals to finance. The South and the West, the two largest markets, both saw declines, offsetting the gains in …
The new head of the Department of Housing and Urban Development, Julian Castro, in his first major policy speech, said lending standards have become too tight and policymakers need to find ways to expand the housing market. Speaking at a housing summit sponsored by the Bipartisan Policy Center, the former …
HUD Head Castro Supports Johnson-Crapo Reform Bill Read More
According to data from the National Association of Realtors (NAR), 27 percent of those purchasing a home for the first time last year received a cash gift from relatives—such as the Bank of Mom & Dad– or friends, an increase from 24 percent in 2012. Meanwhile, rising stock and property …
Although MHProNews has posted several stories relating to the effect of student debt on home sales, a new study by John Burns Real Estate Consulting, according to The Wall Street Journal, says higher levels of student debt will reduce U. S. home sales by eight percent this year. Studying purchase …
The Franklin County (Missouri) Planning and Zoning Commission rejected a conditional use permit (CUP) plan to replace a series of duplexes, senior apartment and Korean-syle huts with single and multi-section manufactured homes for a 110-acre retreat complex for the National Association of Intercultural Family, Inc. (NAICFM). Initially approved in 2007, …
Planning Commission Rejects Manufactured Home Proposal Read More
The homeownership rate among young adults ages 18-34 has fallen to a new low, 13.2 percent, as Millennials continue to live in their parents’ basements. In 2014, according to Census Bureau data compiled by trulia.com, 31.1 percent of this age group lived with their parents, a slight decline from 31.2 …
Four members of the manufactured housing industry were honored at the recent Manufactured Housing Institute (MHI) annual meeting Sept. 14-16 for their outstanding contributions to the industry. Dick Ernst, president of Financial Marketing Associates, received the MHI Chairman’s Award from MHI Chairman Nathan Smith. A longtime member of the MHI …
Four MH Industry Members Honored at MHI Annual Meeting Read More
The next round of the Obama Administration’s Promise Zone applications will be discussed Friday, Sept. 19 at 11 AM eastern time by U. S. Housing and Urban Development Secretary Julian Castro, Department of Agriculture Secretary Tom Vilsack, Department of Transportation Secretary Anthony Foxx, Senator Bob Casey of Pennsylvania and Rep. …
Promise Zones Set to Expand to other Struggling Communities Read More
The U. S. Department of Housing and Urban Development (HUD) and the Census Bureau inform MHProNews housing starts fell in all four regions of the country in August by 14.4 percent to a seasonally-adjusted annual rate (SAAR) of 956,000 units. Multifamily production led the downward trend, falling 31.7 percent, while …
Notching its highest reading since Nov. of 2005, the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) tells MHProNews builder confidence in the market for single-family homes rose four points to 59. The HMI gauges builder perceptions of current single-family home sales, sales expectations for the next six …
Builder Confidence in Single-family Homebuilding Rises Read More
In response to the country’s need for low-cost permanent housing, Vo Trong Nghia Architects in Vietnam have developed a lightweight, modular home using a precast concrete skeleton for structural support and thermal comfort, according to designboom.com. Features include polycarbonate panels to bring in natural light, nipa palm and corrugated cement …
Vietnamese Architects Develop Low-cost Modular Housing Read More
