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.
As a result of the housing downturn and the slow economic recovery, more seniors have turned to the Home Equity Conversion Mortgage (HECM) program (reverse mortgage), backed by the Federal Housing Administration (FHA) as an economic lifeline, but an independent audit has revealed the program is $2.9 billion in the …
National Public Radio (NPR) reports Harvard economist Martin Feldstein says the Federal Reserve’s holding the interest rate down is assisting many borrowers in buying or refinancing a house, but it is also keeping some lenders out of the market because the lower interest rates reduce the profit margins lenders can …
Keeping Interest Rates Low could Return to Bite us Read More
Investors expressed their continuing concern over the fiscal cliff jousting in Washington as all three indexes nudged down. CNNMoney reports the Dow Jones Industrial Average slipped -0.19 percent, -24.49 points, ending the day at 13,114.59. The Nasdaq moved down -0.74 percent, -22.24 points, to close at 2,990.16, while the S&P …
Nationalmortgagenews tells MHProNews the Case-Shiller 20-city HPI (house price index) reveals prices nudged down 0.1 percent in Oct. over the previous month, but prices rose 4.3 percent over last year. Meanwhile, Jacksonville, Fla.-based Lender Processing Services, in its monthly sales analysis of 15,500 zip codes says home prices rose 0.3 …
Townhall tells MHProNews the Federal Housing Administration (FHA) continues to make risky loans to borrowers with low credit scores and/or high debt ratios. Based on zip codes, these borrowers have an expected foreclosure rate of 15 percent, accounting for 44 percent of FHA loans to people of low to moderate …
TheFranklinNewsPost reports from Franklin County in southwestern Virginia Guy and Betty Beatty are donating $1 million to erect a new modular facility to house the Free Clinic of Franklin County, giving it a permanent home. Established in 1992, the clinic offers free and reduced cost medical services to people who …
The stocks of publicly traded builders have rebounded in the wake of the ongoing housing market recovery. CNNMoney tells MHProNews Toll Brothers and DRHorton have both notched about a 60 percent growth in their respective stocks, while Hovnanian Enterprises and Pulte Group have recorded triple digit gains for the year. …
Zacks informs MHProNews homebuilder KB Home intends to build some 700 one and two-story single family homes in two developments in San Antonio, with construction expected to start in mid 2013. With prices starting at $140,000 in one of the developments and $150,000 in the other, KB only begins construction …
JagsReport says Sun Communities, Inc. has declared a quarterly dividend of $0.63 a share for stockholders of record Dec. 31, 2012, payable January 18th, 2013. As MHProNews reported here Oct. 1, 2012, this is the same dividend amount as for Q3 2012, and represents an annualized dividend of $2.52, and …
HousingWire reports a survey by Trulia revealed the Millennials, the 18-34 age group, were more optimistic than three older age groups that conditions will be conducive for them to purchase a home. ( See chart below.) MHProNews has learned the survey showed 31 percent of renters plan to buy a …
According to houstonculturemap, a vintage modern 1954 house birthed in the prosperity of Houston’s post-war oil-rich Texas is being restored after decades of neglect. Technically-advanced for its time, the home was constructed with intercoms in every room, open spaces that flowed into each other, and a wall of window frames …
The New York Stock Exchange will be closed today in celebration of the Christmas Holiday. The market will re-open tomorrow at 9 AM. (Photo credit: Wikipedia)
After analyzing 177 metro areas, real estate analyst Zillow tells HousingWire 75 percent showed home value gains in 2012. For the five years from 2007 to 2011 home values dropped each year, the largest occurring in 2008 when home values declined $3.2 trillion. This year the value of homes is …
HousingWire says real estate guru Trulia tells MHProNews the housing industry is 51 percent back to normal, four percent better than last month. Trulia’s barometer is based on construction starts, existing home sales, and delinquencies combined with foreclosures compared to the worst point to the housing crisis. Housing starts were …
While Republicans and Democrats continue squabbling over the impending fiscal cliff, the Mortgage Forgiveness Debt Relief Act of 2007 is due to expire at the end of the year, which would cause homeowners to begin paying taxes on the part of their mortgage that is forgiven in a short sale, …
Letting the Act Expire Could Cost Underwater Borrowers Read More
U.S. stocks dropped in a short trading session before the Christmas holiday today as fears persist the president and Congress will not resolve the fiscal cliff crisis before the year’s end. CNNMoney reports the Dow Jones Industrial Average fell -0.39 percent, -51.76 points, ending the day at 13,139.08. The Nasdaq …
The Department of Housing and Urban Development (HUD) announces it has awarded $26 million in grants to the owners of non-profit owners of multi-family housing developments to convert their units into dwellings outfitted to accommodate the needs of the elderly seeking to age in place. With funding from HUD’s Assisted …
The Freedom of Information Act (FOIA) request the Manufactured Housing Association for Regulatory Reform (MHARR) filed to obtain some 1,000 pages of material relating to HUD’s in-plant expansion regulations initially prompted HUD to respond with a cost over $25,000 paid beforehand to process the request. MHARR challenged HUD to produce …
Updating a story we ran Dec. 12, 2012 concerning Sun Communities, Inc.’s acquisition of 11 Morgan RV Resorts for $135 million, one of the properties is Peters Pond RV Resort in Sandwich, Mass. which has had some recent troubled times. Cape Cod Times tells MHProNews Morgan’s principal, Robert Moser, and …
