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 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
As the Dow fell short of its all-time high, investors backed away from U. S. stocks as tepid economic data trumped the drop in first-time unemployment claims. CNNMoney reports the Dow Jones Industrial Average rolled back slightly from its new five-year high, dropping -0.15 percent, -20.88 points, to end the
Dow Falls Short of Record; Tracked Housing Stocks Lackluster Read More
Updating a story we posted Jan. 25, 2012, about a marina development in Poquoson, Vir. that included a 50 site MHC, the dailypress informs MHProNews the entire Whitehouse Cove project is flourishing. While so far only 13 of the homesites are occupied, eight more are committed and the developer thinks
New Development Going Strong in VA Read More
ValleyMorningStar reports from Austin, TX, State Senate Bill 499 would streamline the process that allows MH owners who have un-imbursed legal claims against MH dealers to access reimbursement from a fund established by the state. The Manufactured Homeowners Recovery Trust Fund pays actual damages through a budgeted $300,000 yearly fund.
Bill would Streamline MH Recovery Read More
RnRMarketResearch reports demand for prefabricated housing will expand 15 percent annually through 2017, but manufactured housing’s share of that will fall as conventional mortgages become easier to obtain. The study, based on data from 2002, 2007, and 2012, is combined with current market conditions, industry structure and competition in its
Pre-fab to Rise 15%, but not MH Read More
CNNMoney informs MHProNews that home foreclosure may not end a borrower’s monetary responsibility if the bank does not transfer the deed or hold an auction. Almost two million properties started but never completed the foreclosure process, which can leave the borrower holding the bag for property taxes, fees, and association
Foreclosure may not Stop the Taxes Read More
Due to the low inventory of previously-owned homes, the National Association of Realtors (NAR) predicts existing home sales will reach five million this year, a 7.3 percent increase from last year, although total sales for the year will rise less than in 2012, as originationnews informs MHProNews. Tight inventories are
Home Sales, Values Expected to Rise Read More
OurMidland reports grants from two community development organizations have helped the United Athletes Foundation (UAF) launch their $100 million tax credit equity fund program to invest in low to moderate mixed-income residential rental properties throughout the nation, and encourage corporations to do the same. A 501 © (3), UAF is
Pro Athletes Fund Low-income Housing Read More
Stocks rallied on hump day, rising throughout the trading session, in response to news that pending homes sales in Jan. rose to their highest level in almost three years, and Federal Reserve Chairman Ben Bernanke’s testimony before Congress that the Fed’s bond buying policies would continue to support the economy.
Dow Hits Five Year High; Patrick Rises over 6 % Read More
As statesmanjournal informs MHProNews, the Silverton (Ore.) Planning Commission voted to approve an application by Universal Forest Products, Inc. (UFPI) to move into the former Champion Homes’ Redman Housing facility in the city’s industrial park. The wood-product manufacturing plant would consolidate operations now being conducted at nearby Woodburn and McMinnville,
MH Component Supplier to take over former MH Plant Read More
The Department of Housing and Urban Development’s (HUD) report to Congress Feb. 22, 2013, which focuses on housing problems faced by very low-income families, found in 2011 almost 8.5 million families either paid more than half their income in rent and/or lived in substandard housing. MHProNews has learned this is
HUD Calls for Affordable Housing—but not MH Read More
As virtual-strategy tells MHProNews, the Modular Building Institute (MBI) and the Pratt Institute School of Architecture will co-host an all-day modular construction summit in Brooklyn, NY on May 16, 2013 at the Institute. As interest in modular techniques continues to rise, the gathering will debunk the myths and present the
Conference will Target Modular Construction Read More
From Freehold, NJ, gmnews reports Gene Landy and Sam Landy and UMH Properties, Inc., have been honored by the Monmouth (NJ) Council, Boy Scouts of America, for their leadership and philanthropy in support of the scout movement. Council President Kurt Kalafsky said, “This recognition reflects Gene and Sam’s dedication to
Landys, UMH Feted for BSA Service Read More
