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.
Announcing financial results for its fiscal year ending Nov. 2, 2013, Nobility Homes, Inc. reports sales increased 17 percent to $18,525,950 as compared to $15,834,971 for the same period last year. Net income after taxes for the year rose to $747,106 from $49,759 FY 2012. Diluted earnings for the year …
Nobility Homes’ Revenue and Income Rises in 2013 Versus 2012 Read More
After going through a nasty foreclosure, architect Macy Miller of Boise, Idaho did not want to deal with a mortgage or banks, and built her own 196 square foot modular home on a flatbed truck for $11,400. Doing most of the work herself, the home has a king-size bed, an …
Architect Stuart Emmons of Portland, Oregon has designed a 265-square-foot, modular, mini-studio for homeless people called I’mHome. After seeing shipping containers converted into living quarters in China, Emmons, realizing a container could not comply with the Americans with Disabilities Act (ADA), took a different approach, designing the modular nine-unit Kah …
Portland Architect Designs Modular Studio Unit for the Homeless Read More
Drew Industries, Inc. subsidiary Lippert Components, Inc. has acquired Fortress Technologies LLC of Middlebury, Indiana for $3.3 million. Fortress is a specialized manufacturer of recreational vehicle (RV) chassis with an estimated annual sales revenue of $3 million, according to RVBusiness.com. “The people and assets we’ve added from Fortress Technologies will …
Investors responded positively to the Federal Reserve’s decision to begin tapering its $80 billion monthly stimulus to keep interest rates down, sending the Dow skyward 300 points. CNNMoney reports the Dow Jones Industrial Average spiked 292.31 points, +1.84 percent, to close at 16,167.97. The Nasdaq gained 1.15 percent, +46.38 points, …
Most Tracked Housing Stocks, Three Major Indexes All Rise Read More
The 18 manufactured housing (MH) and recreational vehicle (RV) communities in San Angelo, Texas, each have different variances and maintenance regulations, and the city wants to establish uniform ordinances in response to the influx of workers drawn by the Eagle Ford Shale oilfield in southwest Texas. Concern resonates among city …
City Strives to Govern Manufactured Housing and RV Communities Read More
In November housing starts rose 22.7 percent to a seasonally-adjusted annual rate (SAAR) of 1.09 million, according to data from the U. S. Department of Commerce, the highest rate since Feb. 2008. Additionally, Bloomberg.com informs MHProNews permits for new housing hit close to a five-year high, indicating construction will continue …
Housing Starts: Growing Demand Trumps Higher Mortgage Rates Read More
The U. S. Department of Housing and Urban Development is providing $14.8 million in redevelopment funding for approximately 19,000 seniors with low-to-very low incomes in order to prevent their displacement from 1,700 units located in 12 properties across six states. Part of HUD’s Section 202 “Supportive Housing for the Elderly” …
The 2014 Louisville Manufactured Housing Show is just a little over a month away. A sold out show and attendee registrations running well ahead of 2013 all suggest an even stronger event to kick off the 2014 selling season. For those who haven’t been to this or other factory built …
2014 Louisville Manufactured Home Show Video Preview Read More
Following up the story MHProNews posted Dec. 11, 2013 regarding workforce housing and recreational vehicle (RV) regulations in Richland County, Montana, County Planner Marcy Hamburg says any parcel of land that is also rented/leased as temporary housing–RVs, park models, modular, campers, travel trailers, skid units—is considered a subdivision. As such …
Montana County Enforces Workforce Housing Regulations Read More
During Q3 2013 an additional 791,000 U. S. homes returned to positive equity as home values continue to rise, bringing the number of mortgaged residential properties with equity to 42.6 million. The number of homes remaining in negative equity fell from 7.2 million at the end of the second quarter …
The board of directors of Canada-based Killam Properties, Inc. has declared a monthly dividend of $0.04833 per common share to be paid on Jan. 15, 2014 to shareholders on record as of Dec. 31, 2013. As 4-traders.com reports, the company offers shareholders the opportunity to reinvest their dividends in additional …
Canada’s Killam Properties Declares Monthly Dividend Read More
Some higher-priced mortgages will be exempt from certain appraisal requirements following the issuance of a final rule by six financial regulatory agencies. In order to make sure a loan is sound, a physical visit with written appraisal must be made to see the interior of a home prior to making …
New Guidelines Regarding Appraisal Requirements Released Read More
Investors shied away from the market today as they await word from the Federal Reserve on its plans regarding the stimulus program of buying $85 billion bonds each month. As a result, the three major indexes moved little in today’s trading. CNNMoney reports the Dow Jones Industrial Average dropped -9.31 …
Little Movement in Tracked Housing Stocks, Three Major Indexes Read More
Drew Industries Inc.(DW) of Elkhart County, Indiana announces it will begin trading of ex-dividend Dec. 18, 2013, paying $2 a share which is scheduled to be paid Jan. 6, 2014. Even purchasers of the stock before the ex-dividend date can receive the cash dividend payment, according to nasdaq.com. Drew’s stock …
Senators Joe Donnelly (D-IN) and Tom Coburn (R-OK) introduced S. 1828, The Preserving Access to Manufactured Housing Act in the Senate as a companion to House Bill 1779 of the same name that protects the ability of manufactured home owners to buy, sell and refinance homes. The new guidelines issued …
The National Association of Home Builders reports builder confidence rose four points in Dec. to 58, where any number over 50 indicates builders see the market as good rather than poor. The Wells Fargo Housing Market Index (HMI) is based on current sales conditions, sales expectations and traffic of prospective …
According to commercialobserver.com, Forest City Enterprises and state-owned Chinese developer Greenland Holdings Group have agreed to develop 6,400 apartments in Atlantic Yards in Brooklyn, 2,400 of which will be designated as affordable housing. Greenland will acquire a 70 percent stake in the Atlantic Yards project, which includes phases one and …
In anticipation of the Federal Reserve’s final meeting of the year and the question of when will the tapering of the stimulus being, investors drove the Dow up 129 points. CNNMoney reports the Dow Jones Industrial Average gained 129.21 points, +0.82 percent, to close at 15,884.57. The Nasdaq climbed +0.71 …
If Congress cannot decide on the feasibility of passing overall housing reform legislation, banking committee leaders from both houses may just pass Federal Housing Authority (FHA) reform as a stand-alone bill, legislation which almost passed in 2012 with bipartisan support. Overall reform might also include the future of Fannie Mae …
