Tony, Sandra Lane's Daily Business News article on UMH and the Ohio shale activity is enlightening and exposes the lazy journalism inherent in the Seeking Alpha article.
As Sandra's article underscored, drilling is continuing unabated in Ohio.
Furthermore, the tremendous infrastructure necessary to move the gas, oil and separate the various byproducts such as ethane, propane and feed stock for the petrochemical industry has resulted in billions upon billions of dollars in construction projects involving processing plants and pipelines criss-crossing Ohio.
Oil is only one byproduct produced in the region.
The wet and dry natural gas which is typically extracted from the same well allows the drilling and production to provide multiple economic benefits and is the "real story" here.
The cheap natural gas to run factories has resulted in significant manufacturing expansions and relocations to Ohio. The unemployment rate in Ohio, once the poster child for the "Rust Belt," is now below the national average. Manufactured home sales have more than doubled here in less than 3 years.
I'll take the Ohio prospects for MH in any Vegas odds making! UMH Properties had foresight in expanding its holdings in Ohio and will reap the benefits.
Seeking Alpha has done better on some other MH related articles, but this one they did on UMH that Sandra Lane reported on indeed missed the mark. Kudos to Sandra for setting the record straight. ##
(Editor's Note: related, see A Breakfast with…Tim Williams, at this link.)
Tim Williams
Executive Director
Ohio Manufactured Homes Association (OMHA)
5640 Frantz Road
Dublin, Ohio 43017
Office: 614-799-2340
Fax: 614-799-0616
Email: twilliams@omha-usa.org
Website: welcomehomeohio.com
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