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.
The Dow hit a new high today at 14,286.37, topping the intraday and closing records set in 2007.CNNMoney reports the Dow Jones Industrial Average moved up, gaining +0.80 percent, +113.28 points, to close at a record high of 14,241.10, having gained nine percent since the beginning of the year. The […]
Dow Hits New Record High; Tracked Housing Stocks Mostly Gain Read More
The charltoncountyherald reports from Folkston, GA in the southeastern corner of the state that Lifestyle Cabinetry, a division of Universal Forest Products, Inc. (UFPI), will be opening soon in the Okefenokee Industrial Park. Once a truss plant, Lifestyle will initially hire a dozen workers, and intends to hire up to
Universal opens Cabinet Shop Read More
According to the superiortelegram, the tiny town of Maple, Wis. (pop. 749) will see its revered old schoolhouse revived as a modular home manufacturing plant that will employ up to 30 people. The only other large employer in this far northwestern corner of the state is the school system, which
MOD Prod. Moves into School Read More
The Salt Lake Tribune informs MHProNews a measure that unanimously cleared a House of Representatives committee is more favored by MHC residents than by MHC owners. HB143’s sponsor says today’s manufactured homes are expensive to move if someone’s site lease is terminated, and defines acceptable reasons for eviction. It says
Legislative Measure Designed to Protect MHC Residents Read More
CNNMoney reports Berkshire Hathaway Chairman Warren Buffett, noting the sell-off in stocks recently when Federal Reserve meeting minutes indicated some members wanted to slow the buying of assets, says once the Federal Reserve actually starts selling the trillions in mortgages and Treasuries, the market reaction could be extreme. “All over
The Oracle of Omaha Opines Read More
MHProNews has learned from the Manufactured Housing Association for Regulatory Reform (MHARR), according to data from the Dept. of Housing and Urban Development (HUD), for the first month since Sept. 2012 the manufactured housing industry recorded an increase in production in Jan., 2013. HUD Code manufacturers turned out 4,242 homes,
MH Shipments Record 1st Increase in Five Months Read More
The sequestration budget cuts did not seem to deter investors as all three indexes inched higher, the Dow getting ever closer to its all time high set in Oct. 2007. Joe Bell, senior market analyst at Schaeffer’s Investment Research, says, “It’s encouraging to see the market shrug off things that
Investors Unfazed by Budget Cuts Read More
According to nationalmortgagenews, Fiserv Case Shiller predicts by the end of the year home prices will be on the rise in every metro area in the U. S., and conditions point to a continuous recovery in the housing market through 2017. Fiserv says the data that shows price increases were
Home Prices to Rise 3.3% Annually Read More
HousingWire tells MHProNews the $85 billion sequestration cuts may affect several housing initiatives, including ones aimed at low-income households and individuals. The National Association of Realtors (NAR) says the Federal Housing Administration (FHA) admitted the time frames for FHA loans may be impacted; furloughs at the Dept. of Agriculture may
Cuts could Cut those Wounded even More Read More
The dailyfreeman informs MHProNews that a modular home on the verge of being sold to a low-income family in Kingston, NY is the center of some controversy, due to the former mayor’s connection to the company that originally sold the home to the city and Ulster YouthBuild in 2011. The
New York City to Sell MOD Read More
Killam Properties, Inc. says the company has partnered with Corporate Research Associates to offer residents of its manufactured housing communities and apartments the opportunity to offer suggestions and opinions through on-line surveys. Participation is voluntary, personal information will not be shared, and responses will be collected in aggregate and not
Killam becomes Interactive Read More
MHProNews has learned from enterprisenews that Richard Sergi will step down as executive director of the Brockton Housing Authority (BHA) after 22 years in the post, as he battles cancer. The Massachusetts Chapter of the National Association of Housing & Redevelopment Officials awarded Sergi with their President’s Award in 2011.
Modular Proponent Steps Down Read More
The setexasrecord tells MHProNews an east central Texas woman has filed suit against Oak Creek Homes of Vidor, TX accusing the dealer of deceptive trade practices and breach of warranty for a manufactured home she bought in Sept. of 2010 for $55,406. Noting the home has been repaired ten times
MH Purchaser Displeased with Home Read More
StreetInsider informs MHProNews that UMH Properties, Inc. (NYSE:UMH) has finalized its deal for ten all-age MHCs for $67,500,000, a total of 1,654 developed home sites to add to its portfolio. The acquisition includes five communities in Ind., four in Penn., and one in Mich., with an average occupancy of 85
Wall Street investors were in no hurry to move far from the wall of the dance floor on the first day of March, but did manage to keep the three major indexes on the positive side, despite concerns abut gridlock in Washington and uncertainty overseas. CNNMoney reports the Dow Jones
Patrick Jumps up, but Most Stocks we Cover are Quiet Read More
According to the National Association of Home Builders (NAHB), even as the housing market begins to improve, the bottleneck of tight credit for builders as well as for consumers remains an obstacle to a much more robust recovery. Some materials producers closed plants and idled workers, and they are reluctant
Tight Credit Choking Recovery? Read More
guardian.co.uk tells MHProNews 100,000 people in Hong Kong live in tiny cubicles, about the size of a large closet in the U.S., but tall. Home prices are 12.6 times the average median income, resulting in the government subsidizing nearly half of the population’s housing. The Society for Community Organization in
A New Meaning for “Tight Squeeze” Read More
Lippert Components, Inc., component supplier to the manufactured housing and recreational vehicle industries, is part of a strong industrial growth pattern in Elkhart, Ind, as etruth informs MHProNews. Lippert began as a steel fabricating plant in rural Michigan in the 1950’s, and has been fabricating chassis for manufactured housing since
Elkhart Ind. is Bustling Read More
Speaking at a webinar about the improving housing market, Raj Dosaj, vice-president of the behavioral library and home price index at LPS Applied Analytics, says home prices could rise 35 percent without being beyond affordability. Displaying a graph that showed the ratio of the average mortgage payment to median income
2012 saw underwater borrowers turn to short sales by a three to one margin over foreclosures, CNNMoney tells MHProNews. Foreclosures accounted for 11 percent of all sales, a drop from 13 percent the previous year, while short sales rose five percent year-over-year to 32 percent. Noting foreclosures on average in
Rise in Short Sales Increases Price of Distressed Homes Read More
