Providing mortgage rates rise in sync with underlying economic conditions, “Home sales and housing starts should continue to steadily improve even as interest rates edge higher,” according to a Wells Fargo Securities (WFS) Economics Group study. The report says 19 months of below four percent interest rates did not spur …
Wells Fargo: Interest Rates Rise may Spur Home Sales Read More
A total of 255 metropolitan housing markets across 49 states and the District of Columbia have remained on the National Association of Home Builders/First American Improving Markets Index (IMI) for July, down from the 263 areas that ranked in June, but over three times the number listed in July 2012. …
Housing Market Slips Month-over-Month, but Flourishes Year-over-Year Read More
House Republicans, led by Rep. Jeb Hensarling of Tex., Chairman of the House Financial Services Committee, are getting set to introduce mortgage finance reform legislation that will totally eliminate government sponsored enterprises (GSEs) and replace them with a private system. Knowing all the features are not likely to pass, the …
Sustainable design is woven into the Nicholson modular housing development in Coburg, Victoria, Australia. Combining 110 privately owned units with 89 affordable rental dwellings, the offset building height of the stacked modules provides access to light and views, and maximizes winter sun and cross ventilation. The greenery in the shared …
199 Unit Modular Building Breaks Up the Skyline Down Under Read More
Adding to a story we posted July 4, 2013 from Harvard University’s annual Joint Center for Housing Studies, the report reveals 42.3 million families (37 percent of the nation’s total) pay more than 30 percent of their income for housing, including 20.6 million who pay more than 50 percent of …
According to the State of the Nation’s Housing report released by Harvard University’s Joint Center on Housing Studies, the housing recovery is well underway, but the millions of borrowers delinquent on their mortgages or underwater continue to pull at the edges of the recovery. In addition, the number of renter …
Harvard Study Cites Critical Shortage of Affordable Housing Read More
Hive Modular of Minneapolis suffered mightily during the recession, but the company has been growing in Canada, enough to have three locations: Altona in Manitoba, Toronto, and one will be set to the east in Quebec. Hive started as a “night job” in 2005 by Paul Stankey and two friends, …
Modular Designer begins in U. S., Flourishes in Canada Read More
According to the Commerce Department, of the 45,000 new houses sold in May, construction has not begun on 16,000, nearly 36 percent, up from 26 percent a year ago, and over two times the 14 percent rate from 2008 during the recession. Total new home sales in May rose to …
New Home Construction Continues to Stimulate Economy Read More
Asking prices for homes in June increased 10.7 percent year-over-year, according to Trulia. If distressed home sales are excluded, the increase was 11.4 percent year-over-year. Based in San Francisco, data from the guru of real estate says, “However, the rate of increase will eventually slow down as mortgage rates rise, …
The U. S. Department of Housing and Urban Development (HUD)’s statistics reveal manufactured housing production rose in May, 2013 to 5,622 homes, an increase of 7.8 percent over the 5,211 HUD Code units produced in May of 2012. As the Manufactured Housing Association for Regulatory Reform (MHARR) informs MHProNews, total …
The Spinelock Group in Mansfield, England is planning its first development of 18 energy efficient, modular homes in the central part of the country. Each home is comprised of four modules and when finished will be 30 percent larger than neighboring houses, bright, airy and spacious with energy bills below …
Modular Housing Development Planned for United Kingdom Read More
As housing inventory expands, Redfin says the housing market is undergoing a slight slowdown, based on data from 22 markets across the nation that ranks the percentage of homes that go under contract within two weeks of their listing. HousingWire reports 32 percent of homes went under contract within 14 …
Report says Housing Market may Return to Sluggishness Read More
May saw the largest increase in the CoreLogic Home Price Index (HPI) since Feb. 2006, rising 12 percent over May 2012, and 2.6 percent higher than April, marking the 15th consecutive month of year-over-year increases. For June 2013, as nationalmortgagenews informs MHProNews, the CoreLogic Pending HPI indicates home prices are …
Borrowers with mortgages backed by Fannie Mae and Freddie Mac that are at least 90 days late will begin receiving offers from lenders to reduce their rates. Called the Streamlined Modification Initiative, borrowers will be able to reduce their payments by either having the loan extended from, say, 30 to …
Seriously Delinquent Mortgage Borrowers may Reduce Payments Read More
Just north and a little east of downtown Indianapolis five modular homes are set to be built in the Cottage Home area on a stretch of land surrounded by small, older homes from the late 1800’s. Priced at $300,000 to $350,000, the first two homes (already sold) will be 1,800 …
After World War II prefabricated home builder National Homes of Lafayette, Ind. supplied affordable homes for thousands of people between 1945 and 1965. Two to four-bedroom homes with 1,000 to 1,600 square feet costing $7,000 to $16,000 with down payments of $900—less for veterans—put homeownership within range of the majority …
National Homes Sold Thousands of Prefabricated Dwellings Read More
For years in Australia, mining and construction companies used dongas, transportable single-room aluminum buildings for workers, which have now evolved to modular housing, but few modular structures were made for residential housing in the last ten years. Ausco Modular has supplied thousands of units of modular workforce housing over its …
Modular Residential Housing Ramping up in Australia Read More
A survey released today (June 28) indicated consumer sentiment among higher-income families nearly rose to its highest level in six years, hitting 84.1 in late June, 2013, just below the 84.5 six year high in May. Economists surveyed by Reuters had forecast 82.8 for June, as MHProNews has been informed …
Although the aging-in-place movement for seniors is very strong, an estimated 16 million senior households will be relocating within the next decade, while the number of 65-and-older households is estimated to increase by 9.8 million in the same time span. “Most of these households will opt to age in place …
Harvard’s Housing Study: Affordable Senior Housing may be Scarce Read More
In its latest Housing Insights report, Fannie Mae notes that while overall home construction fell by 70 percent between 2006 and 2011, manufactured housing (MH) began declining in 1998, falling nearly 90 percent. In 2012 MH accounted for 7.4 percent of total home construction, a substantial drop from 20.2 percent …
Fannie Mae: Manufactured Housing has Challenges to Overcome Read More
