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 MHProNews posted Feb. 4, 2013 regarding the need for new housing for migrant workers, the salemnews reports from Peabody, Mass. Mayor Ted Bettencourt is asking the city council to quickly approve $180,000 to construct a new modular housing facility for the Jamaican employees who tend and harvest …
MarketWire says The Freedonia Group, Inc. of Cleveland, Ohio in a new study projects that manufactured housing production will rise 13.6 percent annually to 90,000 units by 2017 as part of the overall production of 140,000 pre-fabricated homes. Similar to a report MHProNews posted Feb. 28, 2013, Freedonia states factory-built …
GTWeekly informs MHProNews residents and former residents of De Anza Mobile Home Park in Santa Cruz, Calif. gathered recently to discuss the community’s loss of rent control in 2003 after a four-year federal battle between the city and what is now Equity LifeStyle Properties (ELS). The judge ruled rent control …
MarketWatch reports Sun Communities, Inc. intends to offer 4,500,000 shares of its common stock in a underwritten registered public offering. Proceeds will be used to repay debt, fund acquisitions, and for general corporate purposes. As underwriters, Bank of America Merrill Lynch, Citigroup, and BMO Capital Markets will have a 30-day …
HousingWire informs MHProNews, as the inventory of available homes continues to drop—Capital Economics says there are only 2.7 million units on the market, the sixth lowest in 30 years– homebuilders are patiently waiting for renters to transition into buyers. According to a survey by Opinion Research Corp. on behalf of …
HousingWire reports during a Senate Banking Committee hearing concerning the nomination of Richard Cordray to head the Consumer Financial Protection Bureau (CFPB) for a second term, some committee members put Cordray on the hot seat. They grilled him about his operation of the agency and what would happen to the …
Although all three indexes are up seven to ten percent for the year, the U. S. stock market took a breather today after choppy trading on the big board. Some analysts speculate a pullback may be in the works, and that it would be a healthy thing for the market. …
Investors Step Back; Most Housing Stocks We Cover Drop Read More
While MHProNews reported Jan. 21, 2013 that Seattle-based modular builder Greenfab would have two modular homes at Las Vegas’ National Association of Home Builders (NAHB) International Builders Show (IBS), JetsonGreen has provided pictures of the homes. Each was comprised of five modules, and required five hours to finish the initial …
PRNewswire reports from Freehold, NJ, MHC owner operator UMH Properties, Inc. announces its financials for 2012 and the Q4 2012. Its Core Fund from Operations (FFO) grew from $9,218,000 for the year ending Dec. 31, 2011 to $10,010,000 year-over-year 2012. Total income increased from $39,313,000 in 2011 to 46,828,000 in …
ConstructionWeekOnline reports from Saudi Arabia that Red Sea Housing Services Company, LTD has signed a (SAR120m) $31.9 million credit facility agreement with Al-Rajhi Bank, (SAR50m) $13.3 million of which is for the financing of special projects, and (SAR70m) $18.6 million to acquire building materials. The agreement will expire in one …
In their monthly report, the Manufactured Housing Institute (MHI) informs MHProNews the 4,190 MH shipped in Jan. is a 6.2 percent increase in production of manufactured homes in Jan. 2013 over Jan. 2012, representing a rise in both single-section as well as multi-section homes. Total floors shipped in Jan. 2013 …
Number of MH Plants and Corporations Remains the Same Read More
“The appetite among lenders and investors for commercial and multifamily mortgages grew during the fourth quarter,” said Jamie Woodwell, Mortgage Bankers Association’s (MBA) vice president of commercial real estate research. “The fourth quarter saw the largest increase in commercial and multifamily mortgage debt outstanding since 2008.” HousingWire informs MHProNews outstanding …
CNNMoney tells MHProNews according to RealtyTrac 4.8 million borrowers have lost their homes to foreclosure since the housing bubble, and another 2.2 million let go of their homes in short sales. But many of them are coming back, and they are searching for a new place to live. Veterans Administration …
According to originationnews, economists at Wells Fargo Securities have suggested that institutional investors account for 20 percent of existing home sales, but as the inventory of preferable distressed properties declines, investors may pull back from the market. Traditional homebuyers who need mortgages are not returning to the market in numbers …
Investors were spurred on by positive economic data and talk that a budget compromise will be reached before the March 27 deadline, leading the Dow to a fifth straight record day as all three indexes rose. CNNMoney reports the Dow Jones Industrial Average moved up +0.35 percent, +50.22 points, to …
WoodworkingNetwork informs MHProNews that Universal Forest Products, Inc. (NASDAQ:UFPI) has developed a “fiberized thermoplastic-mineral composite that replicates the fibrous structure of wood.” It’s durability, strength, stability, aesthetic, and workability are equal to or better than wood, and improves upon the strength of wood-plastic composites. Eovations, as it is called, can …
According to theaustralian, the Twynam Group of Sydney, Australia has acquired modular home manufacturer Quicksmart Homes and intends to produce 2,000 new homes per year in the next five years. Part of Kahlbetzer Investments, which has extensive agricultural and livestock holdings across Australia, as MHProNews has discovered, Twynam’s real estate …
U.S. employers added 236,000 jobs in February, including 48,000 construction jobs, reflecting the upswing in the housing market. As MHProNews has learned from CNNMoney, the unemployment rate dropped to 7.7 percent, its lowest level since 2008. In the last five months builders have added 151,000 construction jobs, the highest number …
OregonLive informs MHProNews Method Homes and Skylab Architecture have partnered on the modular HOMB House, a series of 100 square foot triangular modules that fit together like a honeycomb. With four bedrooms, three-and-a-half baths, the house in Portland, OR has 2,700 square plus an excavated basement of 1,200 square feet. …
Triangular Modules Create Sharp-angled Modern House Read More
MHProNews has learned from beachcarolina the Onslow County Manufactured Home Demolition Assistance Program (MHDAP) offers financial assistance in the demolition of abandoned manufactured homes. Funded by a combination of Onslow County and applicant contributions in cases where a home needs to be removed because it poses a public health hazard, …
