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.
Housing affordability slipped nationwide as home prices in recovering markets rose during the second quarter, according to the National Association of Home Builders (NAHB) Wells Fargo Housing Opportunity Index (HOI). Of all new and existing homes sold in the first quarter of 2013, 73.7 percent were affordable to families earning …
Updating a story MHProNews posted April 17, 2013 regarding two Vermont schools competing in the U. S. Department of Energy’s Solar Decathlon in California October 3-13, a send-off event is slated at the Statehouse in Montpelier for the teams and their modular homes Sept. 10. Two of only 20 student …
In its National Delinquency Survey, the Mortgage Bankers Association (MBA) reports homes across the country in some type of financial distress fell in the second quarter to 10.1 percent from 11.6 percent a year ago. Nationwide the average foreclosure rate was 3.3 percent in Q2 2013, although Florida hit the …
Noting that New Zealand is facing a housing shortage, Alistair Helm says the Labour and National political parties are not doing enough to ease the problem, especially in helping younger and first-time home buyers obtain financing. He suggests lowering the down payment to five percent, in particular because he says …
While the Republican-led House Financial Services Committee is supporting legislation to totally eliminate Fannie Mae and Freddie Mac from the mortgage business with no government interference , the Democrat-majority Senate Banking Committee says the government needs to be a backstop to make certain borrowers of modest means can continue to …
Discarding Fannie Mae and Freddie Mac = A Nightmare Read More
Continuing concerns about the possibility of a Federal Reserve pullback on its bond-buying support of the economy has investors stepping back from the market, resulting in the three major indexes moving very little either way. CNNMoney reports the Dow Jones Industrial Average nudged down -5.83 points, -0.04 percent, to close …
Skyline Rises, Patrick Drops, Three Major Indexes Budge Read More
Three months since Barry Swegle allegedly drove his bulldozer through a manufactured housing community east of Port Angeles, Washington, damaging or destroying four homes and other property, he remains in jail in lieu of a $1 million bond, while those impacted by his actions continue to rebuild their lives. A …
Bulldozer Roars through Manufactured Housing Community Read More
In Maputo, the capital of Mozambique, a modular disaster recovery center has replaced a one-time helipad that served the directors of the communications company Vodaphone Mozambique. With land at a premium in the capital city, the center is located atop a five-story building adjoining Vodaphone’s 14-story office building. The three …
Responding to the onset of numerous modular housing projects now underway in New York City, Samuel C. Florman, Chairman of Kreisler Borg Florman General Construction Co., notes that George Romney (Mitt Romney’s father) promoted prefabricated housing as Secretary of the Department of Housing and Urban Development (HUD) in 1969-1973. Writing …
Modular homes are being planned for the Village of Wellow on the Isle of Wight in the United Kingdom. Part of a larger development that will include site-built homes, the modular units will be single-story and utilize natural materials to better blend into the environment. Developer Neil Payne says, “Modular …
Development in United Kingdom to include Modular Homes Read More
Students at Mountain View and Evergreen High Schools in Clark County, Washington collaborated to build a modular home for Habitat for Humanity that a single-mother and her two sons will move into in September. Each school literally built half of the 1,100 square foot home, and the students will receive …
In its continuing attempts to amend rules that inhibit lending to the manufactured housing market, the Manufactured Housing Institute (MHI) says the Consumer Financial Protection Bureau (CFPB) released additional rules that exempt loans on existing manufactured homes (excluding real estate) from Dodd-Frank appraisal requirements. There is already an existing rule …
Manufactured Housing Industry Gains in Easing Lending Restrictions Read More
The market ended the week on the downside, with all three indexes in the red, although stocks have still gained between 18% and 23% on the year. CNNMoney reports the Dow Jones Industrial Average dropped -72.81 points, -0.47 percent, to close at 15,425.51. The Nasdaq fell -0.25 percent, -9.01 points …
Three Major Indexes and Most Tracked Housing Stocks Fall Read More
The Dutchess County Legislature’s Public Safety Committee in Poughkeepsie, New York has been paying other county jail systems for housing inmates, but County Executive Marcus Molinaro wants to use some of the budgeted funds for temporary modular housing. According to midhudsonnews, he says this will achieve short-term savings until long-term …
Manufactured Housing Community Lake Erie MHP, LLC in Fredonia, New York is donating $250 to the United Way of Northern Chautauqua County for each home sold in its community, and presented the organization with a check for $1,000. The former McClenathan’s Mobile Home Park in Fredonia, in far western NY …
While two different projects are underway in Vancouver, British Columbia, Canada utilizing shipping containers to make modular housing, Frank Lo of MC Quarters Corp. wants to build more affordable housing in the city using the containers. His company builds modular workforce housing for logging and mining camps as well as …
Taxpayers may yet see a profit from the $187 billion bailout by the federal government of Fannie Mae and Freddie Mac in 2008. To date, Fannie Mae has seen $105 billion of the $116 billion it borrowed from Treasury repaid, including $10 billion from the most recent quarter. Of the …
A one-time theme park in Queensland, Australia will be demolished and replaced with a 115-site manufactured housing community (MHC). Nostalgia Town at Pacific Paradise has been acquired for $1.6 million by Peter Puljich, director of Living Gems, developer of MHCs in Australia. The affordable living community will include a social …
Habitat for Humanity Wind River Country in Riverton, Wyoming will receive $15,000 from Wells Fargo to help build a modular home for a single mother and three children. Marking Habitat’s 16th house since 1997, and modeled after a similar program in Loveland, Colorado, the two modules will be constructed primarily …
The Esto Town Council in the panhandle of Florida nearly straddling the Alabama state line approved the first reading of the newly proposed manufactured home ordinance which defines requirements before being sited in town. The homes “Must be structurally sound, clean, sanitary, well maintained and approved by council.” Any home …
