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.
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 […]
Construction Company Head Slams Modular Housing Read More
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
Modular Home Built by High School Students Read More
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
County Seeks Modular Jail Facility Read More
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
Land Lease Community Donates to United Way Read More
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
Modular Housing Sprouting in Vancouver Read More
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
Fannie and Freddie Repaying Taxpayers Read More
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
Manufactured Housing Project Set for Australia Read More
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
Modular Home to be Built by Students Read More
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
Manufactured Home Ordinance Passes First Reading Read More
After a three-day losing streak, U. S. stocks moved slightly higher today amid strong corporate returns and lower-than-expected jobless claims. CNNMoney reports the Dow Jones Industrial Average gained 27.65 points, +0.18 percent, to close at 15,498.32. The Nasdaq climbed +0.41 percent, +15.11 points to end the day at 3,66.12, while
Three Major Indexes make Modest Gains; Tracked Housing Stocks Mixed Read More
Builder confidence in the 55+ housing market for single-family homes rose to its highest second quarter level since the National Association of Home Builders (NAHB) began keeping track in 2008. Marking the seventh quarter of year-over-year improvements, the Housing Market Index rose 24 points to 53, as MHProNews has learned.
Builder Sentiment Rises for Senior Housing Market Read More
Killam Properties, Inc., headquartered in Halifax, Nova Scotia, Canada reports for the second quarter 2013 property income rose 2.5 percent from $33,679,000 to $34,506,000 as compared to Q2 2012, yielding a net rental income loss of -0.5% year-over-year–$20,331,000 in 2012 versus $20,225,000 in the same period of 2013. Net income
Killam Reports Financials for Second Quarter 2013 Read More
Mortgage closing costs have risen on average six percent this year, from $2,264 to $2,402, based on a $200,000 loan with 20 percent down and good credit. Origination fees increased eight percent to $1,730, while third-party fees rose one percent to $672. With interest rates historically low in the past
Mortgage Closing Costs on the Rise Read More
A 200 (plus)-room pod hotel for Williamsburg in Brooklyn is being planned, and architect Jim Garrison, who designed the modular hurricane-proof lifeguard stations for Rockaway Beach, may utilize modular construction for this project as well. He also designed the modular daycare center for Lehman College, erected in three days, and
Modular Housing Burgeoning in New York City Read More
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
