Updating a story MHProNews last published June 9, 2014 about an affordable modular housing initiative in Bluffton, South Carolina, wsavtv.com reports the city tripled the amount budgeted to $150,000 to conduct home-owning classes and money-saving tips of homeownership, and waive some of the permit fees. Applicants for the 22 modular …
As part of Gov. Duval Patrick’s 2012 plan to increase affordable family housing throughout Massachusetts, MHProNews.com has learned from wggb.com that Neighborhood Housing Services of Springfield, in western Massachusetts, has received $450,000 to construct six affordable modular housing units for families and seniors with modest incomes. The Department of Housing …
In a wide-ranging interview on Fox Business Network’s Opening Bell with Maria Bartiromo, Chairman of Equity LifeStyle International, Sam Zell, says he may not be young enough to see the final tapering of the Federal Reserve’s stimulus, despite most observers saying it will end in October, as housingwire.com tells MHProNews. …
Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 109,824 U. S. properties in May 2014, a five percent decrease from the previous month, and a 26 percent drop from one year ago to the lowest monthly level since Dec., 2006, according to RealtyTrac’s latest …
Foreclosures Fall Nationally 26 Percent Year-over-Year Read More
McGraw Hill’s Construction Forecast Report anticipates 45 percent of all construction begun in the U. S. in 2014 will be single and multifamily housing projects. A survey of builder and remodeler members of the National Association of Home Builders (NAHB) reveals 62 percent of single-family home builders report they are …
As an addendum to a story MHProNews published April 26, 2013 regarding Florida’s state-run insurance company reducing its coverage (but not its premiums) on older manufactured homes (MH), a resident says his Citizens renewal notice indicates the value on his home dropped from $71,000 to $29,000 in 12 months. In …
Manufactured Home Owner Upset with Florida Insurer Read More
A city code in Lewes, Delaware that bans residents of Abbott Park manufactured housing co-op from renovating or replacing their factory-built homes may be altered to allow only modular and stick-built homes in their stead, according to capegazete.villagesoup.com. Since manufactured homes (MH) are not allowed in Lewes, existing ones are …
Nigerian immigrant Emeka Onwugbenu (pronounced “eh-Meh-ka on-woo-Bay-nu”) arrived in Pittsburgh in 2002, and after graduating from Penn State with a degree in engineering and Carnegie Mellon University with an MBA, has become one of the most innovative developers in town in just four years. The American Institute of Architects (AIA) …
Modular Development Garners Design Award for Nigerian Immigrant Read More
Following a story MHProNews posted May 21, 2014 regarding the city of Bluffton, South Carolina’s plan to replace aging pre-HUD Code homes with new modulars, the affordable housing committee intends to offer a final draft to the Bluffton Town Council next month. MHProNews has learned the 22 Small Home Series …
Affordable Housing Plan calls for 22 New Modular Homes Read More
Representing a net gain of nine metropolitan areas year-over-year, 56 returned to or exceeded their last normal levels of economic and housing activity out of 350 metros, according to the National Association of Home Builders (NAHB)/First American Leading Markets Index (LMI). Based on current permit, price and employment data, MHProNews …
Economic and Housing Activity Remains at 88 Percent Read More
While housing experts and economists maintain the housing crisis is over, a survey conducted by the John D. and Catherine T. MacArthur Foundation in April reveals 51 percent of respondents believe the nation continues in the throes of the housing bust, and 19 percent believe the worst has yet to …
Half of Americans Believe Housing Crisis has not Passed Read More
CoreLogic reports 312,000 more homes returned to positive equity in the first quarter of 2014, indicating 6.3 million homes remained underwater as of Q1 2014, compared to 6.6 million homes at the end of Q4, 2013, according to worldpropertychannel.com. In aggregate, the value of negative equity totaled $383.7 billion as …
More Underwater Homes Return to Buoyancy in Q1 2014 Read More
The National Modular Housing Council (NMHC) reports shipments of 2,874 modular homes for the first quarter of 2014, a drop of 2.1 percent over the same quarter 2013. Compared to Q1 2013, ten states saw increased shipments of modular homes while 24 states experienced reductions. For purposes of comparison, as …
According to themortgagereports.com, Veterans Administration (VA) loans for buying a home through the Department of Veterans Affairs are often the least expensive route for homeownership for current and former U. S. military personnel. VA loans allow up to 100 percent financing with no required mortgage insurance and can be used …
Manufactured Home Purchases Available for Military Veterans Read More
In an ongoing effort to relocate victims of Hurricane Sandy along the New Jersey coast, a new low-cost modular home program for residents who cannot afford to rebuild has been announced by the Eatontown-based Affordable Housing Alliance. Eligible for federal funding, gmnews.com reports the Bayshore Bungalows would range from 700 …
Updating a story MHProNews published Aug. 13, 2013 regarding North Carolina-based Phoenix Housing Group (PHG) fraudulently selling over 1,000 manufactured and modular homes, several of the principals have been banned from the mortgage business and/or from the MH and modular industry, and fined, while others await sentencing. The charges involved …
Fraudulent Manufactured and Modular Home Sellers Brought Down Read More
Statistics compiled by the U. S. Department of Housing and Urban Development (HUD) reveal production of manufactured homes rose from 5,313 homes in April 2013 to 5,653 homes in April 2014, a 6.4 percent increase. Cumulative production of HUD Code homes for 2014 has hit 19,318, compared to 18,173 for …
U. S. Census Bureau statistics report only 36% of Americans under the age of 35 own a home, a drop from 42 percent in 2007, and the lowest level since 1982 when the Bureau began documenting the age of homebuyers, as MHProNews.com has learned. While 90 percent of Millennials would …
Cautious optimism surrounds the builders of manufactured and modular homes, according to ocala.com, as demand has led some producers to hire more employees and others to expand product lines. Christine Stump of Southern Structures, Inc. in Silver Springs Shores, Florida says before the housing bubble she and her husband had …
HUD Code and Modular Homes Reviving in Ocala, Florida Read More
Following an article MHProNews posted May 28, 2014 regarding Boston Mayor Martin Walsh’s comment that more housing for those with moderate incomes needs to be available to maintain a healthy city, an editorial in bostonglobe.com begins by saying that many manufactured and modular homes are virtually “indistinguishable in looks and …
Boston Globe Extols Manufactured and Modular Homes for City Read More
