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 a survey of 1,000 millennial renters, rent.com discovered while 57 percent rank affordability as the major consideration, 55 percent stated they would pay an extra $150 month to stay in an apartment they really liked, and 24 percent said they would pay $400 more for that same apartment. Given […]
Rising Rents could Forestall Homeownership Read More
New York City is experiencing such a shortage of affordable housing that lotteries for affordable housing receive thousands of applications for a fraction of available units. According to modularhomecoach, state legislators in Albany are debating whether to renew the 421-a tax abatement, a program that promotes low cost residential development.
Modular Building May be Forced out of New York City Read More
Karoleena, an Okanagan, British Columbia, Canada modular home builder, has been selected to build the Pacific National Exhibition (PNE) show’s prize home, according to infotel.ca. The 3,800 square-foot, $2.1 million dollar modular home took six months to build and 30 days to assemble on-site. It will be trucked to the
Upscale Modular Home is Top Prize in Lottery Read More
The addition of 233,000 jobs to the U S. economy, and the drop of the unemployment rate to 5.4 percent, the lowest level since 2008, spurred the Dow Jones Industrial Average to surge +267.05 points. Additionally, the unemployment rate of black males has fallen below ten percent for the first
Jobs Report Sends Dow Up; MHCV Does not share the Joy Read More
For the first quarter of 2015, UMH Properties, Inc. (NYSE:UMH) reports Core Funds from Operations (CFFO) rose from $2,425,000 or $0.11 per diluted share for the 1st quarter of 2014 to $3,159,000 or $0.13 per diluted share for the comparable quarter 2015. Normalized Funds from Operations (Normalized FFO) hit $3,226,000,
UMH Posts Gains in Q1 2015 Read More
MHProNews has learned from marketwatch that Canadian Apartment Properties Real Estate Investment Trust (CAPREIT), owner of manufactured home communities, announces that its Board of Directors has approved a 3.4 percent increase in annualized cash distributions. Effective with the May 2015 distribution, $1.22 per unit ($0.0107 monthly) will be paid on
CAPREIT Announces Monthly Distribution Read More
The National Association of Home Builders/First American Leading Markets Index (LMI) tells MHProNews 68 of the 360 metro areas nationwide equaled or exceeded their last normal levels of economic and housing activity in Q1 of 2015. Based on current permit, price and employment information, nationwide the average is running at
Housing Market Recovery Moving Slowly Read More
Elmwood Mobile Manor has transformed into Elmwood Homeowners Cooperative, purchasing the manufactured home community (MHC) with $2.16 million financing provided by ROC USA® Capital, the Mercy Loan Fund and the Washington State Housing Finance Commission. JP Morgan Chase’s CDFI (Community Development Financial Institution) Collaborative program supplied a $4 million grant
ROC USA Facilitates another Manufactured Home Community to Become a Co-op Read More
“A pocket neighborhood is different from a traditional neighborhood because there’s a function: The front porch has to be big enough so you can sit on it on a Sunday morning as your neighbor walks by,” said Bob Provost of Carriage House Modular Homes LLC of South Burlington, Vermont. The
Modular Cottages form Small Community in Vermont Read More
In the news: Whole Foods to launch lower cost store, Patriots QB Tom Brady inflates his innocence, and the oil industry wonders if job cuts have ended. Meanwhile, the Yahoo Manufactured Housing Composite Value (MHCV) gained more than the Dow, +1.76 percent, to close at 672.2. while more tracked manufactured
Drew Draws Top Gain, Cavco Advances, MHCV Outpaces Dow Read More
The Pine Haven manufactured home community (MHC) in Moss Bluff, Louisiana in the southwestern part of the state (just north of Lake Charles) has been sold and the 35 homes, some of which appear to have been built before the Department of Housing and Urban Development (HUD) established standards for
Ozy Media’s ‘Trailer House Nation,’ Corrections Needed Read More
Updating an article MHProNews posted March 4, 2015 regarding Google’s modular expansion plans for its North Bayshore campus, the Mountain View (CA) City Council voted to give Google only about a quarter of the office space it had requested for the complex, and instead opted to give the lion’s share,
Google’s Modular Plans Denied; LinkedIn Links Up Read More
The Modular Building Institute’s 2015 Awards of Distinction has honored Guerdon Modular Buildings as best-in-show for its Domain Apartments in San Jose, California. As multihousingnews informs MHProNews, the five-story, 444 unit luxury townhouse-style community includes nine-foot ceilings, granite countertops, stainless steel appliances, in home washers and dryers and high-quality finishes.
Luxury Modular Complex Rises in Silicon Valley Read More
As follow-up to a story MHProNews posted March 19, 2015 regarding multifamily manufactured housing (MH) units, the Manufactured Housing Association for Regulatory Reform (MHARR) tells MHProNews the General Subcommittee of the Manufactured Housing Consensus Committee (MHCC) unanimously approved a proposal to establish standards for the homes. Previously, HUD warned any
Manufactured Housing Consensus Committee to Consider Multifamily MH Read More
ADP reports private employers hired 160,000 workers last month, Saudi Arabia wants to be the Walmart of oil which will cut into the fracking industry in the U. S., and investors are awaiting the opportunity to invest in Iran. Meanwhile, for the second consecutive day, the Yahoo Manufactured Housing Composite
MHCV Inches Up while Dow Slips Second Consecutive Day Read More
MHProNews has learned from Next Step Network that Chris Nicely has joined Next Step Homes, the for-profit subsidiary of Next Step Network, as Chief Executive Officer. Next Step Network is a Louisville, KY-based 501(c)3 not-for-profit that seeks to put affordable factory-built housing within everyone’s reach regardless of their income. MHProNews
Chris Nicely Joins Next Step Homes Read More
Australian filmmaker Jeremy Beasley has been documenting the Tiny Home movement which began in the U. S. 15 years ago, and estimates there are between 500 and 1,000, although the exact number is unknown because many are under the radar. As MHProNews reported Oct. 21, 2014 on a 70 square-foot
A Short Story on the Tiny Home Movement Read More
New rules and regulations for the moving and placement of manufactured homes (MH) was discussed at the Ramey (Penn.) Borough Council meeting May 4, as theprogressnews tells MHProNews. Code Enforcement Officer Joe Kercenneck discovered a multi-section home in town has a manufacturers seal of approval, but it does not have
Borough Establishes Regulations for Siting of Manufactured Homes Read More
Rick Robinson of the Manufactured Housing Institute (MHI) has informed MHProNews that the city council of El Monte, California, county of Los Angeles, on March 30, 2015 approved Urgency Ordinance No. 2852 to extend the existing manufactured home (MH) rent stabilization for an additional three months, through July 3, 2015.
Updated Rent Stabilization for Manufactured Home Communities due in June Read More
MHProNews has been informed by Caitlin Nauert of the Texas Manufactured Housing Association (TNHA) the Texas Senate has passed SB 1264 and the House has approved companion bill HB 1990 which will allow multifamily modular construction to be four stories tall instead of the current three stories. Of the 6,268
Texas Legislature Passes Bill to Elevate Modulars Read More
