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Distressed Homes Lower the Price of Homes Nationwide

According to HousingWire, the falling of home prices for the seventh straight month represents the downward pull of distressed homes in the market.  The statistics from CoreLogic show with that segment in the equation, prices fell in February 6.7 percent over February a year ago.  Remove that segment and the …

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MHARR Meets with Congressional Leaders, Express Concerns over Sagging Sales

According to the Manufactured Housing Association for Regulatory Reform (MHARR), the Housing and Urban Development (HUD) statistics show shipments of manufactured housing continued to fall through the first two months of this year by 15 percent over the same period 2010.  Production numbers in their report from 2009 to 2010 …

MHARR Meets with Congressional Leaders, Express Concerns over Sagging Sales Read More

Technology Sector Moves Dow Up, Housing Stocks Inconsistent

The technology sector was stronger than the weakness of the industrial and energy sectors to drive the Dow up just over a quarter of a point to close at 12,426.75.  Housing stocks moved up, down, and not at all.  Cavco gained 1.97 percent, Skyline Corp. moved up 1.91 percent, Nobility …

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Magazine Helps to Keep RV/MH Hall of Fame Running

According to RV Business, RVPro magazine has responded to the cash-strapped Elkhart, Indiana-based RV/MH Hall of Fame Museum & Library, and will donate 25 percent of its June advertising revenues to the museum.  Publisher Dana Nelsen said, “We want to help the museum, plain and simple, because it really is …

Magazine Helps to Keep RV/MH Hall of Fame Running Read More

Loan Restrictions Exclude 25-30 Percent of Buyers

CNNMoney says mortgage rates are low and houses are cheap, but only the well-heeled borrowers qualify, and they typically need 20 percent down.  The Federal Reserve says 25 percent of people who apply for financing are turned down, even good borrowers with one of two late payments are being denied. …

Loan Restrictions Exclude 25-30 Percent of Buyers Read More

Bankers Say CFPB Should Be Directed by a Commission

HousingWire reports the American Bankers Association (ABA) told the House Financial Services Committee that the new Consumer Financial Protection Bureau (CFPB) needs the checks and balances of a commission to head the massive agency instead of just the director.  Speaking for the ABA, Leslie Anderson, of Bennington Bank in Nebraska, …

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Modular Library Based on Modern Steel Buildings of Pierre Koenig

The Creative Coast reports that the Adaptable System for Universal Living (ASUL) was featured on the cover of the April 2011 issue of Builders News Magazine for its modular designs based on the Midcentury Home steel construction methods of Pierre Koenig.  He designed the famed Stahl House in California with …

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Economic Impact of Building 100 New Homes

The National Association of Home Builders documented the contribution of building 100 single family homes in a typical metro area for one year.  The year impact includes $21.1 million in local income, $2.2 million in taxes, and 324 jobs.  Half of the jobs are in construction, the other half extend …

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Modular Home Store Rises Near Boston

From Boston/SF comes word that people traveling to work on busy Route 1 in Saugus, Massachusetts, just north of Boston, may have been surprised returning home to see a house on what was a vacant lot that morning.  Westchester Modular Homes of Greater Boston (WMHGB) installed a new 2,900 square …

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Manufactured Home Draws Thousands at MN Home Show

The Duluth News Tribune in Minnesota reports the Arrowhead Home and Builder’s Show will feature a manufactured home brought into Pioneer Hall.  Contractors will finish off the drywall and painting of the home for the several thousand visitors who are expected to tour the house.  Craig Tobias, president of Bullyan …

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Modular Homes Built to Withstand Hurricanes

Gulf Live reports from Ocean Springs, Mississippi that the Cottages at Oak Park, a 29-unit modular housing complex going up near downtown, will feature affordable one, two, and three bedroom homes, some two stories.  The energy efficient homes will withstand 145 mile per hour winds, and will have steel roofs …

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Palm Harbor Closing One of its Plants

Statesman says Palm Harbor Homes announced it will close its Kyle, Texas, manufacturing plant in early June, idling 129 employees.  The company filed bankruptcy last November, and was acquired by Cavco Industries through its Fleetwood subsidiary under a bankruptcy court auction in March for $84.9 million.  Palm Harbor has eight …

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Republican Bills to Revamp GSEs Have Minor Impact

HousingWire reports that while the House Financial Services Committee has proposed eight bills to revamp Fannie Mae and Freddie Mac, securities broker Keefe, Bruyette & Woods (KBW) say the legislation will do little to promote mortgages moving to the private sector from the GSEs (government sponsored enterprises).  Instead it deals …

Republican Bills to Revamp GSEs Have Minor Impact Read More

Nobility Homes Non-compliant with NASDAQ Again

Yahoo!Finance reports that Nobility Homes (NASDAQ: NOBH) received a letter of non-compliance from NASDAQ because the company did not timely file its Quarterly Report on Form 10-Q.  It failed to comply with NASDAQ Listing Rule 5250 (c)(1) with the Securities and Exchange Commission (SEC) for the period ending Feb. 5, …

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The Housing Bubble Continues to Bounce

HousingWire says the Obama administration’s housing scorecard shows gain, but not yet a win. Prime and subprime mortgage delinquencies, and Federal Housing Administration (FHA) delinquencies, all declined from a year ago.  The Housing and Urban Development (HUD) and Treasury Departments, also said properties receiving a notice of default declined from …

The Housing Bubble Continues to Bounce Read More

One Industry Component Doing Well

Zacks reports that Encore Wire Corporation (NYSE: WIRE) saw revenue increase in the fourth quarter of 2010 to $265 million from $177 million for the same 2009 period.  Encore makes a variety of copper electrical wire for residential and commercial building, including manufactured housing.  Although copper increased 31 percent for …

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Rushing Waters Send CA Residents Streaming from Homes

The Santa Cruz Sentinel says a large water pipe that ruptured underneath a factory-built housing community, followed by drenching rains, damaged several homes and drove all 26 residents from the flooded community in Capitola, California.   The March 24 drenching forced an elderly man to climb a hill behind his …

Rushing Waters Send CA Residents Streaming from Homes Read More

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