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.
U.S. stocks responded positively to indications that a resolution to the fiscal cliff problem may be near. CNNMoney reports the Dow Jones Industrial Average gained 0.87 percent, +115.57 points, ending the day at 13,350.96. The Nasdaq moved up 1.46 percent, +43.93 points, to close at 3,054.53, while the S&P advanced […]
UFPI led Rise in Housing Stocks, Followed by LPX and Skyline Read More
As MHProNews has learned from theatlanticcities, each of the modules is 14 feet wide X 35 feet long and 10 feet high, and include floors, electricity, plumbing, walls, kitchens and bathrooms, the basis for the 363 apartments. The strong construction unions in New York City initially opposed the project because
A Prefab Grows in Brooklyn, p.2 Read More
As follow up on the massive, modular Forest City Ratner project in Brooklyn, NY, groundbreaking is set for today with Mayor Michael Bloomberg, Gary LaBarbera, President of the Building and Construction Trades Council of Greater New York, Brooklyn Borough President Marty Moskowitz, and Forest City CEO Bruce Ratner. Theatlanticcities says
A Prefab Grows in Brooklyn, p. 1 Read More
Reuters reports Universal Forest Products, Inc. (UFPI:NASDAQ) is borrowing $75 million from Prudential Investment Management, Inc. to reduce debt associated with the recent purchase of Wash.-based Nepa Pallet and Container Corp. and acquire Custom Caseworks, Inc. of Sauk Center, Minn. The $35 million notes are unsecured ten-year at 3.89 percent
Universal Borrows to Buy Read More
Following the continuing saga of those displaced by Hurricane Sandy on the east coast, fifty Federal Emergency Management Agency (FEMA) one, two and three-bedroom manufactured homes have arrived at a staging area at Six Flags Great Adventure amusement park in Ocean County, New Jersey. NorthJersey tells MHProNews FEMA and state
FEMA Homes Set to Deploy in NJ Read More
HousingWire informs MHProNews the Home Affordable Modification Program (HAMP) assisted 13,400 homeowners in obtaining trial modifications for the terms of their home loans in Nov., a drop from 15,200 the previous month. Meanwhile, 16,000 received permanent modifications in Nov., an increase from 13,800 the previous month. (Image credit: realtor)
Homeowners Benefit from Government Programs Read More
According to a new survey of 48 professional forecasters by the National Association of Business Economics, residential investment is finally contributing to economic growth. Nationalmortgagenews informs MHProNews home purchases and residential construction grew by 12 percent in 2012 as opposed to 2011 when growth was negative -1.4 percent, and is
Housing Adding Vitality to Economy Read More
CBCNews reports from Manitoba, Canada about 40 of the 65 modular homes offered to the Lake St. Martin First Nation will be shipped to the Little Saskatchewan First Nation following the spring flooding of 2011 that displaced members of both communities. Only 13 of the homes at Lake St. Martin
Modular Homes will be moved to different First Nation Site Read More
Bloomberg tells MHProNews of all the 24 commodities tracked by Standard & Poor’s GSCI Spot Index, lumber features rose to a six-year high, having surged 37 percent this year. Following the collapse of the housing market in the U.S., a glut of wood drove prices down, but they have more
Rise in Lumber Prices will Reflect in New Homes Read More
Real estate brokerage Redfin of Seattle says survey results indicate there will be strong consumer demand for homes starting in early Jan., and combined with low inventory should keep prices rising. According to originationnews, the number of people looking for a new home who expect the price to rise has
Brokerage: Sales, Prices Stronger in 2013 Read More
Stocks rose on news the stalemate in Washington between the administration and Congress has eased with the possibility of resolution before the Jan. 1 deadline’s fiscal cliff. CNNMoney reports the Dow Jones Industrial Average gained 0.76 percent, +100.38 points, ending the day at 13,235.39. The Nasdaq moved up 1.32 percent,
Indexes, Most Housing Stocks Advance Read More
Following up on an article we last posted Dec. 13, 2012, a Cavco Industries facility in Rocky Mount, Virginia is providing a foundation in New Milford Conn. with 30 manufactured homes. Named for a firefighter who died at the Twin Towers Sept. 9,2011, the Stephen Siller Tunnels to Tower Foundation
Cavco Building MH for Hurricane Sandy Survivors Read More
Pionline reports the University of Michigan (UM) in Ann Arbor has committed $40 million of its $8 billion endowment to three alternative investment firms, one of which is Lake Forest, Ill.-based Green Courte Partners, LLC. Green Courte received $5 million in conjunction with The Parking Spot, a new real estate
Green Courte Receives Investment Funds Read More
U.S. stocks finished the day down due to a continuing impasse in Washington between the White House and Congress over the fiscal cliff issue that needs to be resolved before year’s end. CNNMoney reports the Dow Jones Industrial Average dropped -0.27 percent, -35.71 points, ending the day at 13,135.01. The
Major Indexes Nudge Down, Housing Stocks Mixed Read More
At the top of the Manufactured Housing Institute (MHI)’s Week in Review newsletter Dec. 14, 2012, is news of a scam that some of the Congress and Expo’s exhibitors have received. Purporting to be part of MHI, Construct Data Publishers offers a listing in a “FAIRGuide” and a free listing
Advertising Scam Hits Congress and Expo’s Vendors Read More
In an open letter to the industry, Deanna Fields of the Manufactured Housing Association of Oklahoma (MHAO) says the 2013 Great Southwest Home Show has been canceled. Originally set to run Feb. 28-March 3, 2013 at the QuikTrip Center Expo Square in Tulsa, due to the economic climate, site contract
HousingWire reports the Consumer Financial Protection Bureau (CFPB) wants banks to test run some of the mortgage disclosures for consumers required by the Dodd-Frank Wall Street Reform Act before forcing them to fully comply, an idea attractive to the market. This collaborative approach will inform consumers on making good decisions,
To follow-up on a story we posted Dec. 12, 2012, the underwriters for Killam Properties, Inc.’s public offering quickly took advantage of the opportunity to purchase an additional 375,000 shares of Killam’s common stock at $12. per share. Led by RBC Capital Markets, the public offering closed Dec. 10, 2012,
Killam Seals the Deal Read More
Although fewer U.S. chief executives expect hiring to decline than they did three months ago, a survey by Business Roundtable revealed the number of large firms that intend to hire workers is no different than three months ago. According to what the Associated Press tells MHProNews, 34 percent of Roundtable
CEOs Cautious about New Year Read More
ModularHomeCoach tells MHProNews Heritage Harbor in Ottawa, Ill. along the Illinois River has chosen Homeway Homes of Deer Creek, Ill. to build 30 one and two story modular vacation homes within their village development. “The Cottages at Heron’s Landing” will feature three different styles priced from $139,900 to $199,900. (Photo
Modular Vacation Homes will Front the Ill. River Read More
