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.
Canada.com informs MHProNews MHC owner Larry Gaudreau, noting that communities built in the 1940’s and 1950’s have deteriorating infrastructures that cannot be replaced without moving residents out, says the government needs more affordable housing for these people, as well as to meet future needs. “More than 50 per cent of […]
British Columbia needs more Manufactured Housing Communities Read More
The National Association of Home Buyers (NAHB), testifying before the House Financial Services Subcommittee on Housing and Insurance, urged lawmakers to move cautiously in reforming the Federal Housing Administration (FHA) because the tight lending standards are already preventing qualified home-buyers from obtaining mortgages, as MHProNews has learned. NAHB First Vice
NAHB Testifies before Congressional Subcommittee Read More
According to vcstar, legislation introduced by state Sen. Hannah Beth-Jackson of California would require that a majority of residents of an MHC favor the conversion of their community into resident-owned homesites, or the plan can be denied. The Ventura City Council voted 7-0 in favor of the resolution, as MHProNews
Resolution Supports Senate Legislation Read More
As themercury tells MHProNews from Australia, modular homebuilder EMAC Systembuilt Group announces it has acquired Mornington Park Homes Pty Ltd, an affiliate of the now defunct Park Homes group. Mornington was placed in receivership last month after it defaulted on loans. The new venture will be called System Built Homes,
Modular Builder Down Under Sold Read More
According to what HousingWire tells MHProNews, 70 percent of lender professionals believe the housing recovery is real, and will continue to improve during the coming six months. Sixty percent of bankers think credit will be available over the next six months for refinancings, and 59 percent say credit will be
Lenders Say Housing Recovery is Happening Read More
Stocks started the day slow but were energized in afternoon trading as corporate returns began trickling in, pushing the Dow to a new high. CNNMoney reports the Dow Jones Industrial Average advanced +0.41 percent, +59.98 points, to end the day at 14,673.46. The Nasdaq gained +0.48 percent, +15.61 points, to
Dow Hits New High while most Tracked Housing Stocks Lose Ground Read More
Laurie Maggiano, policy director for the U. S. Treasury’s Homeownership Preservation Office, says many people continue to be left out of the housing recovery, and if fact are still struggling, and how the Obama administration hopes to change that. A partnership between the Treasury and NeighborWorks America will reach out
Housing Recovery Passing over First-time Prospects Read More
UMH Properties’ stockholders of record on May 15th will receive the benefit of $0.18 per share June 17, representing a yield of 6.79%, according to information MHProNews has received from utahpeoplespost. While The Street downgraded the stock to “hold” from “buy” March 15, it was up Monday April 8 by
In addressing the strength of the housing market recovery, as HousingWire tells MHProNews, experts expressed different views. Anthony Sanders, professor of real estate finance at George Mason University, says the market is improving, but slow job growth, stagnant incomes (except for the top five percent), and increasing government involvement are
Differing Views on the Housing Recovery Read More
A coalition of non-profits and consumer organizations are encouraging residents of often modest means to seek co-op ownership as a means to increase equity in their property and control rents in Mass. The patriotledger reports of the 250 manufactured home communities in the state, only 25 have become cooperatives, but
Massachusetts Adding Cooperatives Read More
RVBusiness informs MHProNews Lippert Components, Inc. has asked the Goshen (Ind.) City Council for a tax break to expand its operations and hire 376 more employees by 2016, spending $10 million for new equipment. A division of Drew Industries, Inc., Lippert is a component supplier to the manufactured housing and
Lippert Seeking Tax Break Read More
The three major indexes made modest gains in trading today as investors anticipate first quarter corporate returns. CNNMoney reports the Dow Jones Industrial Average nudged up +0.33, +48.23 points, to end the day at 14,613.48. The Nasdaq gained +0.57 percent, +18.39 points, to close at 3,222.25, while the S&P advanced
Indexes up Slightly; UMH Rises, Skyline Falls Read More
As MHProNews reported here earlier today (Mon. April 8), the closing of Hilltop Mobile Home Park in State College, Penn. that led to a musical benefit to help residents, has also led to charges being filed against the owners by the state attorney general’s Bureau of Consumer Protection for allegedly
Attorney General Sues Community Owners Read More
According to nreionline (National Real Estate Investor), NorthStar Realty Finance Corp. has acquired a portfolio of 71 manufactured home communities comprised of approximately 17,000 home sites for $865 million. Financed with a $640 million mortgage for ten years at 4.02% fixed, the company expects an initial annual yield of 14%.
NorthStar Purchases Sizeable Portfolio Read More
The carrollnews informs MHProNews the Hillsville (Ohio) Town Council has changed several town codes, including the following that applies to non-conforming manufactured homes (using non-conforming spelling): “Removal and replacement of a manufactured home which constitutes a nonconforming used on an individual lot or within a manufactured home park ore removal
Regulation will Require Replacing Older MH with HUD Code Homes Read More
Updating a story MHProNews covered Sept. 5, 2012 regarding the closing of two MHCs in State College, Penn., a graduate of Penn State University and fellow church congregant with residents of the communities is sponsoring a benefit to assist those displaced by the closings. Musician Pat Elliott has organized the
Fundraiser for Residents Forced to Move Read More
The heraldtribune reports MHC Mermaid’s Manor in Bradenton, Fla. has been acquired out of foreclosure by trusts in the name of Harold E. Crye and Hazel Ann Ball for $1.2 million, from BOFI Federal Bank. The 70-site Mermaid’s was previously owned by Tampa’s CPM Properties LLC, managed by Harvey Estes,
Florida Community Acquired from Bank Read More
The National Association of Home Builders/First American Improving Markets Index (IMI) informs MHProNews the list of improving housing markets remains virtually unchanged from last month. Five new markets showed improvements in employment, housing permits and home prices for at least six months, while six fell from the ratings. NAHB Chief
Improving Markets Index Holding Steady Read More
U. S. stocks responded negatively to a report the economy only created 88,000 jobs last month, leading to a drop in the three major indexes, according to CNNMoney. The Dow Jones Industrial Average dropped -0.28, -40.86 points, to end the first week of the new quarter at 14,565.25. The Nasdaq
Jobs Report Depresses Indexes; Nobility Homes Rises Read More
According to the brightonpittsfordpost, Robert Morgan, founder and CEO of Rochester, NY-based Morgan Management has been named recipient of the 2013 Herbert W. Vanden Brul Entrepreneurial Award by the RIT Saunders College of Business. Honored for 30+ years of successful business in Rochester, the company Morgan founded now employs 950
Morgan Management Founder Honored Read More
