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.
Updating a story we posted March 8, 2013 concerning a program to demolish abandoned factory-built homes in Onslow County in southeastern North Carolina, MHProNews has just learned from jdnews the program will run through Feb. 2014. The initiative is funded jointly by grants from the state’s Manufactured Home Demolition Assistance …
HousingWire informs MHProNews that 87 percent of the respondents in a recent survey by JPMorgan Chase say home ownership remains part of their dream. Seventy-five percent envision owning a home as crucial to raising a family, and 66 percent believe it is a good investment. Compared to six months ago, …
A fully furnished and landscaped modular home will be one of the featured attractions returning to the the Original Western Mass. Home & Garden Show that runs from March 21-24 at the Eastern States Exposition in West Springfield, Mass. Now in its sixtieth year, the show’s 350+ plus vendors will …
According to capenews in a report from eastern Mass., a modular home builder in Marstons Mills, Donald B. Shulman, has been accused of essentially running a Ponzi scheme, with sufficient complaints to have generated a blog entitled “RDA (Realty Development Associates) Donald Shulman Victims.” Monthly meetings are attended by people …
The dailypilot informs MHProNews from Costa Mesa, Calif., just south of Los Angeles, a number of MHCs, especially those with a view of the ocean, may be on the verge of conversion to condominiums or other types of development. The Golden State Manufactured-Home Owners League (GSMOL) has been meeting with …
An unexpected drop in the Thomson Reuters/University of Michigan consumer sentiment index ended the Dow’s ten day winning steak, the best run since 1996. CNNMoney reports the Dow Jones Industrial Average edged down -0.17 percent, -25.03 points, to close at 14,514.11. The Nasdaq fell -0.30 percent, -9.86 points, to close …
The Manufactured Housing Institute (MHI) informs MHProNews at their Board Meeting Feb. 25, president and CEO Richard Jennison presented the three issues which MHI is newly collaborating on with the Manufactured Housing Association for Regulatory Reform (MHARR): 1) have a non-career head of the MH program at HUD; 2) have …
With occupancy rates hovering near 97 percent in the South Florida apartment market, the bidding for Class A multi-units is so competitive many investors are seeking out lesser quality buildings, according to worldpropertychannel. In 2012 sales of multifamily units in the one million to ten million-dollar range reached $490 million, …
Although he had city approval, when neighbors opposed Martin Newton’s plan to build a ten-unit, 42 foot tall condominium on his half acre in an older neighborhood near downtown Colorado Springs, Colo., according to JetsonGreen, he chose a modular complex. Working with Liscott Custom Homes’ Rick Hagan of Castle Rock, …
MarketPlace.org informs MHProNews Eric Belsky, managing director of the Joint Center for Housing Studies at Harvard University, says in 2010 more than 25 percent of renter households paid over 50 percent of their income for rent, an increase from 20 percent in 2000, putting more people at the risk of …
As follow-up to a story we last posted May 17, 2011 whereby the U.S. Supreme Court confirmed a lower court’s ruling that rent control at Rancho Mobile Home Estates in Goleta, Calif. is constitutional, the owner of Rancho, Daniel Guggenheim, recently won a state case that permits him to sell …
HousingWire informs MHProNews Chairman of the House Financial Services Committee, Rep. Randy Neugebauer, (R-TX), during a committee hearing on the private mortgage insurance market, noted that the Federal Housing Administration (FHA) continues to risk taxpayer dollars. In regard to FHA and its Mutual Mortgage Insurance Fund, he says, “FHA does …
NationalMortgageNews reports with the mortgage industry complaining that the qualified mortgage (QM) rule issued by the Consumer Financial Protection Bureau (CFPB) will hinder hundreds of thousands of potential borrowers from obtaining a QM loan, HR Bill 1077 clears up the three percent cap on points and fees in the QM …
The unexpected drop in first-time jobless claims combined with recent reports of a falling unemployment rate kept the Dow going as it experienced ten consecutive days of gains, the best run up since 1996. CNNMoney reports the Dow Jones Industrial Average added +0.58 percent, +83.86 points, to close at 14,539.14. …
According to nationmultimedia from Thailand, Thai conglomerate SCG (Siam Cement Group) and Japan’s Sekisui have entered a partnership to build modular homes at Hemaraj Industrial Estate in Saraburi , and will target the middle-range market in Thailand. Production will begin this month at the new facility which has the capacity …
Kiplinger informs MHProNews a Virginia couple wanted to build a home in a mountainous area but could not get county approval for nearly two years because of the steep slopes, succeeded in having a 2,200 square foot custom modular home installed. Built by Jakobsen and Rowe of Purcellville, Vir., the …
The Memphis-Shelby County Office of Planning and Development (OPD) has recommended approval of the former Memphis Mobile City that flooded in 2010 and 2011 becoming an RV resort with over 100 sites, as memphisdailynews tells MHProNews. The adjoining 33 acres not in a floodplain would be a 101-site manufactured home …
Spurred on by better-than-expected Feb. retail sales, the Dow closed at an all-time high for the seventh straight day; the S&P is less than one percent below its best reading which it reached in 2007. CNNMoney reports the Dow Jones Industrial Average added +0.04 percent, +5.22 points, to close at …
According to originationnews, home loan applications followed by the Mortgage Bankers Association (MBA) fell 4.7 percent on a seasonally-adjusted basis, fed by a boost in employment figures that led to the 30-year fixed mortgage rate (FRM) reaching its highest level since August, 2012. The average for conforming 30-year FRMs rose …
According to the kilgorenewsherald, the city council in the northeast Texas town of New London granted permission to a new resident to install a manufactured home on a half-acre of land. The owner agreed to follow city ordinances regarding porches and skirting. Also, the owner of a multi-section manufactured home …
