In noting the unprecedented scope and potential long-range effects of the Dodd-Frank Act, several Republican lawmakers have sent a letter to federal regulators asking for 60 days for meaningful public debate and intense scrutiny. According to HousingWire, some members of the business community have already objected to parts of the …
Stocks added 29 points–about a 20th of one percent–Thursday despite disappointing news on the employment picture. Most manufactured housing and related stocks stayed within one percentage point of Wednesday’s close. The Manufactured Housing Composite Value lost about what the Dow gained, one 20th of one percent.
From Maryland, the Dagger Press reports that Northern Harford County Senator Barry Glassman is attempting to assist the Harford Countians who applied for building permits prior to January 1, 2011 for construction of modular homes to be placed in Harford County. Several Harford County families applied prior to the January …
From Texas, the Grapevine Courier reports that residents of older mobile homes are protesting a code crackdown of sorts. Residents of the Trailwood Mobile Home Estates told the reporter the city is threatening them with code violations in an attempt to shut down the community. City Community Services Director Scott …
From Long Island, Hamptons.com reports that Assemblyman Fred W. Thiele, Jr., Assemblyman Dan Losquadro and State Senator Kenneth P. LaValle have introduced New York state legislation to allow manufactured home community tenants to challenge rent increases. The report indicates some manufactured home owners are seeing rent increases of as much as …
Legislators Want to Help MH Owners Fight Rent Increases Read More
Freddie Mac reports the results of its Primary Mortgage Market Survey show a drop in long-term fixed rates this week. 30-year fixed-rate mortgage averaged 5.0 percent with an average 0.7 point for the week ending February 17, 2011, down from last week when it averaged 5.05 percent. Last year at …
From Canada, Global Saskatoon featured a story on a home that was built locally in just six hours. A photo accompanying the article showed a modular home being lowered onto its foundation. The report indicates the home is made with pre-fabricated Structural Insulated Panels rather than traditional wooden studs, which …
Wall Street spent hump day higher, adding more than 60 points to close at 12,288. Gainers in the manufactured housing arena include Cavco and Skyline Corporation, each adding some five percent for shareholders. Walker & Dunlop and Drew Industries also closed higher. The Manufactured Housing Composite Value closed higher by …
T.J.T., Inc., a major supplier of axles, tires and set-up supplies to the manufactured housing industry, announced a net loss Tuesday of $286,000 in its first quarter of fiscal 2011. Net sales decreased 27 percent in the first quarter of fiscal 2011 as compared to the same period in 2010. …
T.J.T., Inc. Reports Results for First Quarter Of Fiscal 2011 Read More
Warren Buffett was at the White House Wednesday, receiving the Presidential Medal of Freedom. According to CNBC, President Obama praised Buffett for demonstrating that “integrity isn’t just a good trait – it is good for business.” Buffet was also recognized for “devoting the vast majority of his wealth to those …
From Michigan, the Daily Press and Argus reports that a federal lawsuit has been dismissed in which more than 50 residents claimed Green Oak Township unlawfully restricts and removes older mobile homes in a manufactured home community there. According to the report, last March, residents of Woodland Ridge manufactured home …
From Iowa, the Press-Citizen reports that new legislation addresses abuses tied to sales and living conditions in the state’s oldest manufactured homes reported in a Des Moines Register investigative series over the past year. The report indicates key provisions of the bill include sweeping changes in how much information community …
Iowa Bill Would Give MH Owners Additional Protections Read More
Nationwide housing starts rose 14.6 percent to a seasonally adjusted annual rate of 596,000 units in January, according to figures released by the U.S. Commerce Department Wednesday. The gain was entirely due to a 77.7 percent increase in the multifamily sector, where significant month-to-month swings in activity are not unusual …
Multifamily Construction Boosts Housing Starts in January Read More
Residents of Park Plaza Estates in Fridley, Minnesota now own and control their 90-home manufactured home community. The homeowners came together, formed a cooperative and purchased their community from the previous investor ownership entity. This group of homeowners will join the other 1,000-plus resident-owned communities across the United States. Of …
Minnesota Adds Resident-owned Manufactured Home Community Read More
Weak retail trade in January drove the Dow down 0.34 percent to close at 12,226.64. After dropping nearly 16 percent yesterday, Palm Harbor Homes rebounded to close up 37.50 percent. Cavco lost 0.38 percent and Nobility Homes was down 0.24 percent. The Manufactured Housing Composite Value lost 1.91 percent.
According to Bloomberg News, the U.S. Small Business Administration faces a 45 percent cut in funding under the President’s budget request. Bloomberg reports that while the budget would back $27 billion in loan guarantees for small business, administrative spending and funds for Small Business Development Centers would be cut.
Housingwire reports that thanks to the falling dollar, the recently formed State of Texas Real Estate Fund LP announced plans Tuesday to raise $150 million from international investors for the purpose of acquiring distressed office and industrial properties, as well as land. The fund is hunting for high-quality distressed properties …
Falling Dollar Helps Drive International Investments in Lone Star State Read More
According to the Manufactured Housing Institute (MHI) Week in Review, MHI-PAC will host a fundraising luncheon for Senator Olympia Snowe (R-ME) on Feb. 16. Representative Snowe is a key Member of the Finance, Commerce, Small Business and Entrepreneurship Committees and a friend of the industry. Senator Snowe has been a …
MHI-PAC to Host Senator Olympia Snowe of Maine Today Read More
Drew Industries, a leading supplier of components for recreational vehicles (RVs) and manufactured homes, recently reported net income for the fourth quarter ended December 31, 2010 of $3.1 million, or $0.14 per diluted share, compared to net income of $2.9 million, or $0.13 per diluted share in the fourth quarter …
The stock market closed mixed, but the Dow was down slightly to close at 12,268.19. Palm Harbor dropped 15.79 percent and Cavco lost 1.54 points, but Deer Valley was unchanged. The Manufactured Housing Composite Value lost 1.54 percent.
