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.
Manufactured housing community owner Equity LifeStyle Properties, Inc. (ELS) in releasing its 2014 Q1 financials today, Tuesday, April 22, report revenues of $196.59 million, up from $183.78 million last year, and well above analysts expectations of $178.97 million. First-quarter funds from operations (FFO) rose to $71.4 million, $0.78 per share, …
The Sleepy Hollow Mobile Home Park in Manteca, California, long a sore point in the community with squatters, alleged drug dealing and other nefarious activities going on, is being closed, and according to mantecabulletin.com, will reopen with new modular homes. The 21-site community was adequate and neighborly to some but …
While the Senate Banking Committee is scheduled to hold a markup of the Housing Finance Reform and Taxpayer Protection Act of 2014, which includes securitization for manufactured home loans through a new agency, there is concern over lack of support from liberal Democrats who want more affordable housing provisions. Some …
Measure Favoring Manufactured Home Lending May be Stalled Read More
Following a story MHProNews.com last covered Dec. 17, 2013 regarding Forest City Ratner’s 32-story Atlantic Yards modular housing project in Brooklyn, New York, therealdeal.com reports the completion date of the B2 Tower has now been pushed back to late 2015, instead of June 2014. Shanghai-based Greenland Holding Group, which invested …
Brooklyn’s B2 Modular Tower Delayed; City not Happy Read More
The Manufactured Housing Association for Regulatory Reform (MHARR) reports the Department of Housing and Urban Development (HUD) has responded to a Freedom of Information Act (FOIA) request from Sept. 25, 2012 regarding HUD’s expansion of in-plant inspections. MHARR’s staff will pore over the more than one thousand pages to assess …
HUD Responds to Freedom of Information Act Request by MHARR Read More
Thursday, May 1 is “Manufactured Housing Day” at the Puyallup RV Show in Puyallup, Washington sponsored by DeTray’s Custom Housing, Lakeview Meadows, Skyline Homes and Palm Harbor Homes. Promoted through the MHRV (Manufactured Homes Recreational Vehicles) Show Association, and running through Sunday, May 4, there will be seminars on financing …
G&I Homes, Inc. recently took over the former site of Serenity Housing Sales, Inc. in Ballston Spa, New York, joining the company’s other manufactured and modular home sales centers in Utica, Vernon, Brewerton, Whitney Point and Oneonta, according to uticaod.com. As MHProNews.com has learned, G&I has been in business 49 …
Investors returned to the Big Board today, mildly interested following a long holiday weekend, pushing the three major indexes slightly higher in anticipation of hundreds of companies releasing their first quarter financials. The Dow Jones Industrial Average nudged up +40.71 points, +0.25 percent, to close at 16,449.25. The Nasdaq gained …
Louisiana Pacific Adds Three Percent; Nasdaq Edges Up 26.00 Points Read More
Nathan Smith, Chairman of the Manufactured Housing Institute (MHI), tells MHProNews the MHI Government Relations staff, Jason Boehlert and Rick Robinson, have developed a new website to facilitate contacting members of Congress about issues, as well as to learn more about the various issues that impact the manufactured home industry. …
Grand Rapids, Michigan-based modular home dealer Midway Homes is expanding back into the opening of a division selling recreational vehicles (RVs). In business since the 1950s, rvbusiness.com reports Midway did sell RVs at one time but moved into the manufactured and modular home business when RV sales declined. An open …
Real estate investment services firm Marcus & Millichap (M&M), which closed over 6,600 transactions in 2013 with a value of approximately $24 billion, has announced the launch of its new website with quicker access to over $8 billion in listings, better direct connection to 1,300 agents and more information and …
Firm that Sells Land Lease Communities Updates Website Read More
State College, Pennsylvania community members, gathering to discuss the need for affordable housing in the area, suggested modular housing as a means to meet the challenge. A woman who lives in a subsidized housing community says she spent a long time trying to find suitable lodging. “This was the only …
The U. S. stock markets are closed today in honor of Good Friday. Exchanges will reopen Monday, April 21 at 9 AM. (Photo credit: Wikipedia.com–New York Stock Exchange)
A lawsuit filed by Southfield, Michigan-based Sun Communities, Inc. (SUI) against the owner of a manufactured home in Southwood Village Mobile Home Park alleging the owner did not give Sun an opportunity to match an offer or be the highest bidder has been dismissed. While both sides are barred from …
Sun Communities’ Lawsuit against Resident Dismissed Read More
Elkhart, Indiana-based Drew Industries, Inc. will release its first-quarter 2014 financial results before the market opens on Thursday, May 1, 2014. As marketwatch.com reports, the company will host a conference call later that morning at 11 AM eastern standard time to discuss the results and other business matters. Participation will …
In the first quarter of 2014 9.1 million U. S. residential properties representing 17 percent of all properties with mortgages were seriously underwater—defined as the loan amount 25 percent higher than the market value–down from 26 percent one year ago, and a drop from 9.3 million residential mortgages representing 19 …
The Missouri state department of revenue is set to start collecting sales tax on the sale of manufactured homes due to a recent state supreme court ruling. According to missourinet.com, manufactured homes (MH) are considered personal property, which is subject to sales tax, much as an automobile. There are 217,600 …
Legislature may Block Sales Tax on Manufactured Homes Read More
The Lake Wales, Florida Police Department has taken Melissa Platt Ginther into custody for allegedly embezzling over $250,000 from Central Florida Manufactured Home Sales. Business owner Pam Thompson contacted authorities who discovered during the course of an investigation that Ginther was said to have falsified documents from 2010 to 2013 …
The three major indexes diverged in today’s trading, as the Dow Jones Industrial Average slipped and the Nasdaq and S&P nudged up slightly. The Dow dropped -16.31 points, -0.10 percent, to close at 16,408.54. The Nasdaq gained +9.29 points, +0.23 percent, to end the session at 4,095.52 while the S&P …
Updating a story MHProNews.com posted April 15, 2014 regarding a California court’s $15.3 million compensatory verdict against Equity LifeStyle Properties (ELS) brought by residents of California Hawaiian manufactured home community in San Jose, the same jury has awarded the plaintiffs $95.8 million in punitive damages. As regards the damage awards, …
Equity LifeStyle Properties Hit with Additional $95.8 Million Damages Read More
