News Reports: Housing news updates and reports for Manufactured Home and Modular Housing Industry professionals and investors. Business – daily fact checks, market reports, and analysis.
In this week’s News: Despite Zoning, MH would be Replaced. Modular Housing adding up. Builder Confidence Slips. Aries Mods in NC. Art’s Way Honored. Deer Valley Stock Zooms. Owning Cheaper than Renting. Good Housing Deals in Rust Belt. Rent Stabilization Extended. Mainstream Media Hinders MH Buyers with no Recourse. Correct …
Federal Reserve Chair Janet Yellen said that if the economy maintains the path of improvement it is on currently, it will be “appropriate” for the Fed to raise the Federal Funds Rate later this year, which will increase the interest rate for mortgages, according to housingwire. “Because of the substantial …
Interest Rates will Likely Ease Upwards this year, says Janet Yellen Read More
Allison M. Johnson of Baxter, Kentucky has been named a recipient of the Kentucky Manufactured Housing Institute (KMHI) 2015 Scholarship Award, according to harlandaily. She received one of three $1,000 scholarships awarded to a graduating high school senior who lives in a manufactured home. A senior at Harlan County High …
KMHI Scholarship Awarded to Resident of Manufactured Home Read More
Couple leave $850,000 estate to U. S. government, Bernie Sanders proposes breaking up the big Wall Street banks, gas prices are expected to fall this summer, and stocks of theme parks are on the rise. Meanwhile, the Yahoo Manufactured Housing Composite Value (MHCV) gained 1.11 percent, to close at 651.1. …
MHCV Outpaces the Dow as Stocks Remain Quiet Ahead of Memorial Day Read More
The National Association of Realtors (NAR) reports that sales of existing homes dropped 3.3 percent in April following a sharp gain of 6.1 percent in March, according to icis. The seasonally-adjusted annual rate (SAAR) for April was 5.04 million units, a drop from the 5.21 million pace in March. In …
Existing Home Sales Fell in April, although Housing Starts Rose Read More
Noting the worldwide emphasis on sustainability and energy efficiency, Global Industry Analysts, Inc. tells MHProNews prefabrication is gaining renewed interest in modern construction, and projects worldwide shipments of off-site homes will reach 1.1 million units by 2020. The report states: “Today, manufactured homes are one of the most sought after …
Interest Growing Worldwide for Manufactured, Modular Housing Read More
MHProNews has learned that the stockholders of Drew Industries, Inc. (NYSE:DW) have voted two new members to its board of directors. Frank Crespo and Kieran O’Sullivan will be joining James Gero, Jason Lippert, Leigh Abrams, Frank Hegi, David Reed, Jack Lowe and Brendan Deely. Crespo is Vice President and Chief …
Drew Industries, Inc. Adds Two to Board of Directors Read More
The Manufactured Housing Institute (MHI) informs MHProNews that the Senate Banking Committee passed regulatory relief legislation that had been drafted by Committee Chairman Richard Shelby (R-AL). The 12-10 vote along party lines represents the most significant change to Dodd-Frank since it was enacted. Section 108 of the bill includes provisions …
Senate Banking Committee Passes Manufactured Housing Finance Reform Read More
In the news: Cuba opened a bank account in the U. S., wealthiest U. S. Congressman Darrell Issa says U. S. poor are the envy of the world, June interest rate hike not likely, Japan’s economy notches strong first quarter, and shares of Best Buy were up four percent in …
Dow, Tracked Manufactured Housing Stocks, Move Little Read More
Zoning laws have not caught up with the Tiny House movement, as Jennifer Baxter of Mecklenburg County North Carolina has discovered. The 144 square-foot home that is scheduled for delivery May 31, is built on a 20-foot trailer. Since it is not on a foundation, it cannot lawfully be considered …
Cavco Industries, Inc. (Nasdaq:CVCO) will release its earnings for the fourth quarter of fiscal year 2015 on Thursday, May 21 after the close of the market, according to nasdaq. The results will be discussed the following day, Friday, May 22 2015 in a live webcast at 1 PM eastern daylight …
MHProNews has learned Franklin Management Group of Newport News, Virginia has arranged $18.8 million in refinancing for five of the more than 20 manufactured home communities (MHCs) it owns. The long-term fixed rate non-recourse recapitalization was arranged by CBRE (Coldwell Banker Richard Ellis)-Hampton Roads. The five properties, comprising 2,600 homesites, …
CBRE Arranges Refinancing for Manufactured Home Communities Read More
Following a story covering some 18 years legal wrangling by the residents of Naples Estates manufactured home community (MHC) in Florida to buy their community, as MHProNews last reported Oct. 8, 2014, a state appeals court upheld the ruling of a lower court affirming the homeowners right to purchase their …
Residents Finally Win Right to buy Manufactured Home Community Read More
The Manufactured Housing Association for Regulatory Reform (MHARR) informs MHProNews that the Department of Housing and Urban Development (HUD) has terminated the dispute resolution (DR) subcontract the Savan Group, LLC has enjoyed with the manufactured housing program contractor, the Institute for Building Technology and Safety (IBTS). MHARR pointed out in …
HUD Terminates Contractual Relationship of Savan and IBTS Read More
Steve Larson and his wife in Brownsboro, Texas asked the city council May 14 for an exemption that would allow them to site two manufactured homes (MH) on property they own within the city. Mayor Terry Mills replied that before he took office an ordinance was adopted prohibiting MH in …
Brownsboro Refuses to Allow Manufactured Homes a Home Read More
In the news: Egg prices have risen due to the bird flu necessitating the slaughter of millions of chickens and turkeys, while, in an ironic twist, bacon has fallen 25 percent. Los Angeles is raising minimum wage to $15/hr, and Home Depot experienced increased sales for the three months ending …
Manufactured Housing Stocks Relatively Quiet Today Read More
New home construction in April hit its highest level since November 2007 as privately owned housing starts hit 1.1 million, a 20.2 percent increase over March. Building permits also increased, rising to a seasonally-adjusted annual rate of 1.1 million as well, 10.1 percent over March, the highest rate since June …
From La Center, Washington MHProNews has learned the Country Hills Estates manufactured home community (MHC) was originally zoned as a condo complex because it was outside the city and the county refused to give it the designation afforded an MHC. As a result, when homeowners tried to sell their homes …
Rezoning Helps Manufactured Home Residents Buy, Sell Property Read More
The Seattle Times/Center for Public Integrity has allegedly targeted Clayton Homes and Berkshire-Hathaway affiliated finance companies in an attempt to derail much needed reforms to Dodd-Frank which harm millions of manufactured home (MH) owners and thousands of MH businesses. Mike Baker and Daniel Wagner – writers of the Seattle …
The available amount of manufactured home sites in 50 distinct California manufactured home communities (MHCs) is 1.34 percent as presented to the El Monte City Council Feb 24, 2015 by Kenneth K. Barr, who conducted the study. The city of El Monte has 33 MHCs consisting of 1,427 homesites, and …
