That data juxtaposed with this ‘flash report’ from the American Enterprise Institute (AEI) for the dates shown.
That featured focus will be found beyond two of our graphical snapshots of the markets, before our manufactured home connected stocks at the bell tonight and our standard industry fare.
Headlines from left-of-center CNN Business
- Everything must go!
- An empty parking lot is seen outside a closed JC Penney Co. store in Mt. Juliet, Tennessee, U.S., on Thursday, April 16, 2020. J.C. Penney is skipping an interest payment, putting the struggling retailer on the path toward a potential default on its debt.
- Some retailers are too broke to go bankrupt
- These former retail giants may not survive Covid-19
- Crew files for bankruptcy
- Amazon VP says he quit over company ‘firing whistleblowers’
- The Fed’s experiment with junk bonds is about to begin
- LIVE UPDATES US stocks end the day higher
- Disney faces an unknown future as coronavirus hobbles its media empire
- It’s an insane time for Trump to pick (another) fight with China
- The economy can’t recover until parents have this again
- GE is cutting up to 13,000 jobs at its jet engine division
- How a badly-coded virus exposed vulnerabilities that remain 20 years on
- SPECIAL REPORT The high price of cheap clothes
- NBC News chairman Andy Lack out in reorganization
- Anchorage Daily News, ProPublica win Pulitzer Prize for investigation on sexual violence
- Content by GOBankingRates.com
- Recession worries? Protect your assets today
- Shoppers view prime and choice meat selections in the meat department at a Costco Wholesale in Vacaville, California, USA, 29 April 2020. On 28 April US President Donald Trump signed an executive order to keep meat processing plants open, declaring them “critical infrastructure” during the coronavirus COVID-19 pandemic. Trump’s move comes in response to many plants shutting down after workers became ill with the coronavirus.
- Costco is limiting how much meat customers can buy
- Elizabeth Warren and AOC’s call for a merger ban may be a moot point
- How to handle a micromanaging boss when WFH
- MARKETS
- LIFE DURING THE PANDEMIC
- Elmont, N.Y.: A suburban neighborhood of houses in Elmont, New York is seen in this aerial photo on July 1, 2019.
- Confused about delaying your mortgage payments? You’re not alone
- Millions of homeowners delay mortgage payments
- What to know before you delay mortgage payments
- Landlords are bracing for a wave of rent defaults
- Here’s what to do if you can’t pay the rent
- THE SUPPLY CHAIN
- WASHINGTON, DC – APRIL 28: A man shops in the meat section at a grocery store, April 28, 2020 Washington, DC. Meat industry experts say that beef, chicken and pork could become scarce in the United States because many meat processing plants have been temporarily closed down due to the coronavirus pandemic. Tyson Foods took out a full page advertisement over the weekend in several major American newspapers, warning that the food supply chain is on the cusp of breaking.
- Tyson warns some supplies may be limited as more plants close
- ‘The food supply chain is breaking,’ Tyson says
- Some grocery stores are limiting meat purchases
- Why meat plants are getting hit so hard
- Meat plant workers to Trump: Employees aren’t going to show up
Headlines from right-of-center Fox Business
- MARKETS
- Stocks drift upwards as states ease restrictions and oil bounces back
- S. equity markets fell as the Trump Administration stepped up its rhetoric against Beijing’s attempts to hid the origins of COVID-19.
- Oil prices rally as more states reopen, producers slash production
- Excess crude supply having devastating impact on frontlines of oilfields
- MONEY
- House Democrats propose $2,000 coronavirus stimulus payment per month
- Think your coronavirus stimulus check is the wrong amount? Here’s what to do
- These Americans may not receive full stimulus payment until next year: IRS
- MONEY
- Social Security benefit cuts may be coming, but here’s why they may not hurt you
- OPINION
- For US to survive the pandemic, we must tackle looming debt crisis: Sen. Rick Scott
- TECHNOLOGY
- Amazon VP resigns, slams company for ‘firing whistleblowers’ amid safety fears
- Amazon policy could devastate businesses near its Seattle headquarters
- QUITE A CATCH
- LIFESTYLE
- This secluded fishing community has zero cases of coronavirus
- INDUSTRY GRILLED
- MARKETS
- Meatpacking companies’ price hike causes ‘beef’ with cattle ranchers
- BUYER’S MARKET
- MONEY
- Silver lining of pandemic pain may start appearing across car dealerships
- SPORTS RETURNS
- GOLF
- Rory McIlroy, Dustin Johnson to headline TV charity relief match
- ‘WILL OWN NO HOME’
- REAL ESTATE
- Musk selling ‘almost all physical possessions’ including these 2 houses
- EMBATTLED EXEC EXITS
- MEDIA
- Andy Lack out at NBC News as part of major NBCUniversal shake-up
- BACK FOR MORE
- FOOD & DRINKS
- Waffle House reopens restaurants to ‘orderly flow’ of hungry customers
- BOARDED UP CITY
- MONEY
- Commercial burglaries double during NYC coronavirus shutdown
- THIS IS THE WAY
- DISNEY
- New top talent brought in to direct next ‘Star Wars’ film
- TIGHT FISTED
- LIFESTYLE
- US banks made it harder to get loans as coronavirus rocked the economy
- MISSING RENT
- LIFESTYLE
- New data shows surge in homeowners taking mortgages into forberance
- SNAKE EYES
- MARKETS
- Coronavirus reopening plan deals Las Vegas casinos a losing hand
- INDUSTRY DECIMATED
- TRAVEL
- Travel industry releases new health and safety guidelines
- BUSINESS CLASS
- LIFESTYLE
- Southwest preps coronavirus rebound by targeting business travelers
- MAKE UP TO BREAK UP
- RETAIL
- Sephora wants to back out of JCPenney stores
- SPORTS
- Trump tried to hire Don Shula in 1983 to coach USFL’s New Jersey Generals
- FINANCIALS
- Fintech startup Robinhood raises fresh funds at $8.3 billion valuation
- SPORTS
- Michael Jordan originally wanted to sign with this company, not Nike
- LIFESTYLE
- Costco returns to pre-coronavirus schedule, adds at-risk shopping hours
- Effective immediately, all clubs and gas stations across the nation will resume their regular operating hours, although hours vary per warehouse.
- LIFESTYLE
- Carnival reveals when it will resume cruises with added safety protocols
- LIFESTYLE
- Starbucks gradually opens cafes with coronavirus safety measures in place
- TECHNOLOGY
- WATCH: Apple unveils new MacBook Pro with updated keyboard
- MARKETS
- Supermarkets now limit how much meat you can buy as shortages looms
- TECHNOLOGY
- Limited by coronavirus restrictions, Supreme Court holds first-ever teleconferenced arguments
- LIFESTYLE
- FDA resets coronavirus antibody test market rules
- MONEY
- First major retailer succumbs to coronavirus fallout, files for bankruptcy
- LIFESTYLE
- PewDiePie signs exclusive deal with YouTube
- TECHNOLOGY
- Apple, Google reveal first look at new contact tracing app
- MONEY
- Varney: Coronavirus-struck America hasn’t turned on Trump
- SPORTS
- NFL coach Don Shula, who led Dolphins to undefeated season, dead at 90
- LIFESTYLE
- Prince guitar, McCartney’s handwritten lyrics among artifacts up for auction
- ECONOMY
- Home sales could drop 60% in what was set to be ‘hottest shopping season’
- ECONOMY
- Coronavirus layoffs are hurting these workers the most, study finds
- MONEY
- Meat plants starting to reopen after virus outbreaks sicken hundreds of employees
- MARKETS
- New orders for US-made goods fall more than expected, and could worsen
- MONEY
- 4 reasons why you should return to work even if unemployment pays more
- MONEY
- Layoffs, salary cuts, canceled events: Pandemic completely upending NRA
10 Market Indicator Closing Summaries – Yahoo Finance Closing Tickers on MHProNews…
Featured Focus – Where Business, Politics and Investing Can Meet
Earlier today, the following press release from the American Enterprise Institute (AEI) for the dates shown. A brief analysis and commentary will follow.
AEI Flash Housing Market Indicators
Week 18 (April 27th – May 1st, 2020)
This report will provide real-time information on a weekly basis. This email contains the first 6 pages of the report. To view the full report, please click the button below.
Week 18 (April 27th – May 1st, 2020)This report will provide real-time information on a weekly basis. This email contains the first 6 pages of the report. To view the full report, please click the button below.
https://www.manufacturedhomepronews.com/debate-current-former-manufactured-housing-institute-members-battle-over-clayton-homes-mhi-other-key-member-activities-and-industry-performance/https://www.manufacturedhomepronews.com/special-covid19-economic-data-report-and-projections-from-marcus-millichap-plus-manufactured-home-stock-investing-updates/
Key Takeaways:
- Cash-out refinance rate lock activity continued to accelerate.
- For the week pf April 27 (week 18), volume was up 54% compared to week 8 of 2020. For week 17, volume had been up 33%.
- On a year-over-year basis, the rate of increase also accelerated, with week 18 posting a 109% increase, compared to 99% for week 17.
- All of the increased activity continues in the conforming loan space.
- Purchase loan rate lock activity continued to be well below last year, however has been stable at a decline in the mid-teens for the last 3 weeks.
- For the week of April 27 (week 18), purchase loan rate lock activity was 15% below that for week 18 in 2019.
- However, activity may be down as much as 27% after taking into account that activity in January and February 2020 (weeks 1-8) was running 16% ahead of the same period in 2019.
- There are important differences across metros. Rate locks in some metros are holding up much better than in others.
- Detroit, Pittsburgh, and Philadelphia have seen large declines, while Cleveland, Virginia Beach, and Nashville are weathering the storm rather well.
- With the onset of the COVID-19 pandemic, we observe important share shifts in the market.
- FHA, VA, and Rural Housing Service borrowers with FICO score below 640 are increasingly unable to get mortgages as lenders tighten up on lending standards. This is actually not bad news since the most leveraged borrowers tend to purchase late in a housing boom and then default first.
- Since week 16, the share of FHA purchase locks with credit scores below 620 continues to shrink, having declined from 7% to 5%. For the VA, the same share has declined from 4% to 3%.
- The rate of home price appreciation (HPA) has decelerated significantly since the onset of the pandemic.
- HPA for the week of April 27, 2020 (week 18) was 4.0%, the same as Week 17 of 2020, but down from 7.2% during week 10.
- The impact of the virus on HPA can be seen clearly across most metros. What stand out are Boston, Columbus, Denver, and Phoenix, which have all exhibited significant decelerations in HPA with the onset of the virus.
- So far however, only 2 among the largest 40 metros are exhibiting consistent year-over-year HPA declines over the last 3 weeks: San Francisco and LA.
Using newly acquired data from Optimal Blue, a rate lock software provider with roughly a third market coverage, the AEI Housing Center is now able to provide near-real time Flash Housing Market Indicators (Flash HMI) on purchase loan rate lock volume, home price, credit, and cash-out refinance trends. Released each Monday, the Flash HMIs will provide much-needed and timely insights on the single-family residential housing market convulsing from the effects of the coronavirus pandemic. While Optimal Blue data are used, Edward Pinto and Tobias Peter are solely responsible for the analysis contained herein.
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The full data, graphics and related are found in the download linked here or below.
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MHProNews Analysis in Brief
As in their report last week, the AEI data reflects a conventional housing industry that is largely in retreat.
MHProNews has stressed for some time that the COVID19 pandemic could be an opportunity in disguise. However, that will not occur unless a different mind-set is deployed than what is routinely seen by the leading companies of the Manufactured Hypocrisy, errr, Housing Institute (MHI).
See the related reports below for more, and watch for the March 2020 manufactured housing shipment data in our Tuesday morning report.
Related Reports:
   https://www.manufacturedhomepronews.com/clayton-update-pro-trump-independents-vs-anti-trump-mh-communities-green-courte-partners-ceo-david-lentz-plus-manufactured-housing-headlines-in-review-3-22-to-3-29-2029/https://www.manufacturedhomepronews.com/warren-buffetts-buffet-revealing-secrets-unmasking-corruption-in-business-nonprofits-or-government-current-former-managers-or-workers-step-up-with-tips-insights-and-whistleblowing/https://www.manufacturedhomepronews.com/peter-buffett-warrens-son-on-charitable-industrial-complex-and-philanthro-feudalism-insiders-look-at-nonprofits-are-they-protecting-or-harming-supposed-beneficiaries/Manufactured Housing Industry Investments Connected Closing Equities Tickers
 That’s a wrap on this installment of “News Through the Lens of Manufactured Homes and Factory-Built Housing” © where “We Provide, You Decide.” © (Affordable housing, manufactured homes, stock, investing, data, metrics, reports, fact-checks, analysis, and commentary. Third-party images or content are provided under fair use guidelines for media.) (See Related Reports, further below. Text/image boxes often are hot-linked to other reports that can be access by clicking on them.)  By L.A. “Tony” Kovach – for MHLivingNews.com. |
