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.
As mortgage giant Wells Fargo lays off 763 workers in its Home Mortgage division because refinancing requests are declining, the company says it will try to find other positions for those employees, who are receiving 60 days’ notice. Meanwhile, last month Citigroup announced it will cut 120 employees at a […]
Hundreds Lose Refinancing Jobs Read More
In a session with Zillow CEO Spencer Rascoff, President Obama fielded housing-related questions coming in via social media. Noting the recession and corresponding drop in home values was unlike anything seen in many years, he said refinancing could save homeowners $3,000 a year, although the housing market, while recovering, remains
President Obama Discusses the U. S. Housing Market Read More
In a repeat of yesterday, investors continue to worry the Federal Reserve’s asset purchase support of the economy will end soon, causing the three major indexes to finish the day in the red. CNNMoney reports the Dow Jones Industrial Average slid -48.07 points, -0.31 percent, to close at 15,470.67. The
Three Major Indexes, most Tracked Stocks Drop Read More
Williams County commissioners in Williston, North Dakota are denying two Conditional Use Permit (CUP) extensions for workforce camps built to service oilfield workers. The extension for Rik Ostert was denied because he did not build a road he agreed to three years ago, and then rented space on his property
North Dakota Oilfield Camps in Jeopardy of Being Closed Read More
Despite gains in the last year, home prices remain 19 percent below their peak in 2006, according to CoreLogic, although U. S. home prices swelled 11.9 percent in June over June of 2012. That is why many homeowners are waiting to put their homes on the market, which keeps the
Home Prices Surge in June over Last Year Read More
Drew Industries, Inc. reports sales for Q2 2013 increased to a record $287 million, a 14 percent increase over the same period in 2012, resulting in net income of $15.9 million, not including an after-tax charge of $0.4 million related to executive succession which would have been $16.3 million in
Drew Industries Sets Sales Record for Q2 2013 Read More
The Pickens (South Carolina) City Council approved on first reading an ordinance that would allow additional manufactured homes into residential areas where they previously could not be sited. The new measure would also prevent additional manufactured housing communities from being built. Recommended by the city’s planning commission, the ordinance will
Ordinance would Allow Manufactured Homes in the City Read More
The National Association of Home Builders (NAHB)/First American Improving Markets Index (IMI) for August lost eight markets from the listing in July, dropping to 247 metropolitan areas that show improvement, but three times the number included one year-ago August. The index measures job growth, home price appreciation and single-family housing
Improving Markets Index Slips Slightly Read More
With two Federal Reserve presidents hinting its bond buying program may begin tapering next month, investors stepped back; perhaps it is just the dog days of summer stepping in to slow things down. CNNMoney reports the Dow Jones Industrial Average slid -93.39 points, -0.60 percent, to close at 15,518.74. The
Three Major Indexes Slide; Most Tracked Housing Follows Suit Read More
The Elko County Association of Realtors Multiple Listing Service northeast Nevada reports the number of site-built homes has quadrupled in the last five years, and in the first half of this year the median price of homes hit $258,900. While interest rates have risen this year, they are still lower
Manufactured Housing Poses Affordable Option in Nevada Read More
August 4-10 is being hailed in Washington, D. C. as National Building Systems Week, with demonstrations and model home and factory tours to educate consumers about the merits of off-site built housing. Sponsored by the Building Systems Council (BSC) of the National Association of Home Builders (NAHB), the event includes
Systems Build Homes Celebrated in Nation’s Capital Read More
The Moulton (Alabama) City Council discussed an ordinance to ban manufactured homes from all residential areas. According to dailytimes.com, the new ordinance will not require any rezoning, only the restrictions will change if it is approved. As MHProNews knows, Alabama ranks fourth in shipment states of manufactured housing. (Photo credit:
Ordinance would Ban Manufactured Housing Read More
With Millennials (ages 18-31) continuing to have problems finding suitable work, 36 percent of them lived in their parents home in 2012, an increase of two percent from 2009, according to the Pew Research Center’s analysis posted in wsj.com. For some 25-30 years, the percentage has hovered around 30 percent,
Young Adults Postponing Household Formation Read More
June to July marked the first time this year the list price per square foot did not increase in pre-existing homes for sale, which could translate into home prices falling, and perhaps putting to rest the fears of another housing bubble. Movoto Real Estate says the steady list price month-over-month
Home Prices Appear to be Leveling Read More
Private equity real estate firm Green Courte Partners, LLC announces the appointment of Cheri M. Scully to vice president. Scully has worked with Green Courte, based in Lake Forest, Illinois, on contract prior to joining the firm in January 2011 as an associate, MHProNews has learned from sources at the
Green Courte Appoints Scully Vice President Read More
Investors stepped back from the table today to start the first full week of August as the three major indexes closed mixed and little changed after hitting new highs last week. CNNMoney reports the Dow Jones Industrial Average slid -46.23 points, -0.30 percent, to close at 15,612.13. The Nasdaq rose
Skyline Spikes, Three Major Indexes Waffle Read More
The flooding that ravaged Calgary, Alberta, Canada in late June and early July, 2013 has resulted in a housing shortage that one Alderman is seeking to fill using Katrina Cottages. While relatively inexpensive at $115 a foot, the units are also small and easy to assemble. Alderman Druh Farrell would
Katrina Cottages may be Heading North Read More
A home by the bay or in the mountains in a manufactured home may only cost $700-$1,000 a month for house payment, site rent and utilities, comparable to renting an apartment, and much less than the thousands more for a traditional home in a similar setting. Manufactured housing is becoming
Manufactured Homes may Draw Baby Boomers Read More
As a result of increased oil and gas and mining projects in Saudi Arabia and the consequent need for modular workforce housing, Red Sea Housing Services Company plans to build a fourth manufacturing facility, this one in the Kingdom. The $22.65 million plant, located in King Abdullah Economic City (KEAC),
Red Sea Housing Expanding Production Read More
While the manufactured housing industry continues to recover, it still has a long way to go, according to Troy Hames of Hames Homes in Marion, Iowa. Noting the company has sold manufactured homes for 44 years in east central Iowa, Hames says new home sales in the state were 2,200
Iowa Climbing Back from Low Manufactured Home Sales Read More
