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.
OriginationNews reports the person who helped plan staffing, enforcement and direction of the Consumer Financial Protection Bureau (CFPB) is now the regional director of the West Region office of the agency in San Francisco, covering 18 western states including Alaska, Hawaii and Guam. Edwin L. Chow is responsible for consumer […]
CFPB Region Director Could be Watching You Read More
Economist Joseph Brusuelas, writing in a Bloomberg Brief on the 2012 housing review and outlook for 2013, says, “Rising purchases of homes from cash buyers and investors reduced the monthly supply of existing homes on the market to 4.8 months in November from 6.4 months in January of 2012. Careful
Inventory Drop will Add to Housing Values Read More
Noting companies will struggle to beat earnings expectations for the last quarter of 2012, Barclay’s said in a report, “We suspect earnings season will be a negative for the market overall.” As investors prepare for the corporate returns, CNNMoney reports the Dow Jones Industrial Average nudged down -0.38 percent, -50.92
Major Indexes Slip; Deer Valley, Nobility Homes Slide Read More
Rick L. Wilson, forty-year veteran of the manufactured housing industry, passed away Friday, January 4, at Central Baptist Hospital in Lexington, Kentucky. A production manager with Fleming Homes in Fleminsburg, Kent., the last several years he was a manufactured home retailer, according to maysvilleonline. A kentucky Colonel, Wilson, 62, also
Passages—Rick Wilson Read More
The StandardExaminer reports from Farr West, Utah the Westwood Village Homeowners Association will meet Tue., Jan. 8 to discuss cracked and uneven sidewalks that pose a risk to the 400 seniors who live in the 350 homes at the MHC. After attempts to get a response from owner Equity LifeStyle
MHC Residents: Busted Walkways are Dangerous Read More
BillingsGazette reports nine workers at the newly-opened System Building Solutions (SBS) in Laurel, Mont. are getting on-the-job training building a two-story 20-room modular man camp for the Bakken oil field build-out in western North Dakota. Utilizing resources in the Billings area, SBS is working out of a building previously occupied
Another MOD Player in the Bakken Oil Field Read More
IndyStar reports two-thirds of nearly 50 Indiana public companies traded on large exchanges finished last year with higher stock prices than at the beginning of the year. Included is Elkhart-based Patrick Industries (PATK) whose stock price more than tripled, going from $4.30 to $15.56 a share. Julie Ann Kotowski, director
Patrick’s Stock Nearly Triples in 2012 Read More
The Manufactured Housing Institute (MHI) informs MHProNews that on Dec. 17th MHI staff and members of the manufactured housing industry met with Consumer Financial Protection Bureau (CFPB) Director Richard Cordray and staff members to push for housing finance rules that take into account the special challenges of the MH market.
MHI Meets with CFPB Director Cordray Read More
In the best week since Dec. 2011, the S&P 500 finished at its highest level in five years, while the Dow Jones Industrial Average moved up 3.8 percent and the Nasdaq gained 4.8 percent. The market was assisted by the report that the economy added 150,000 jobs in Dec., about
Housing Composite, Deer Valley Make Big Gains Read More
According to BloombergBusinessWeek‘s survey of 15 economists and housing analysts, existing home sales will increase 7.2 percent in 2013 to 4.98 million, the most since 2007. Prices will move up 3.3 percent this year, a slight retreat from the 4.5 percent rise in 2012. The loss of inventory in 2012
Survey Predicts Good News for 2013 Housing Read More
MHProNews has learned that the 2013 Louisville Show will include a free finance panel discussion that will feature all of the industry’s major lenders, showcasing their latest Dodd-Frank compliant lending programs. The focus of the panel presentation will be for each lender to highlight their top or new lending opportunities
MH Lending Opportunities and Regulatory Update Read More
According to official statistics from the Dept. of Housing and Urban Development (HUD), the Manufactured Housing Association for Regulatory Reform (MHARR) says production of manufactured housing fell 18 percent from Nov. 2011 to Nov. 2012, 5,332 homes down to 4,365 units. While cumulative production is still up seven percent over
MH Production Falls Again Read More
As originationnews reports, the Mortgage Bankers Association (MBA) says refinancings the last two weeks ending Dec. 28 were at their lowest point since April, as refis dropped 21.6 percent on a seasonally-adjusted basis. The average contract interest rate for a 30-year fixed rate mortgage (FRM) increased one basis point to
Refis Fall, Interest Rate Remains Low Read More
Marcus & Millichap Real Estate Investment Services reports the company has sold Forest Green Mobile Home Park in Hudson, Fla., an all age land lease community just north of Tampa-St. Petersburg, Fla. Originally developed in 1984, Forest Green has 49 single-section and 32 double-section homes, a community pool, recreation area
81 Site MHC Changes Hands in Florida Read More
Inhabitat reports a division of Warren Buffett’s Berkshire Hathaway has purchased the 579-megawatt Antelope Valley Solar Projects (AVSP) from Silicon Valley solar manufacturer and developer SunPower, worth over $2 billion. Outfitted with SunPower’s super efficient modular photovoltaic trackers, and re-located to Kern and Los Angeles counties, the 3,230 acre facility
Berkshire Buys Solar Developer Read More
Stocks slipped today after minutes of the Federal Reserve’s Dec. meeting revealed some members of the committee may want to end the stimulus bond buying program earlier than originally anticipated. CNNMoney reports the Dow Jones Industrial Average nudged down -0.19 percent, -21.19 points, to 13,391.36. The Nasdaq fell -0.38 percent,
After Powering Up Yesterday, Markets Settle Back Read More
HousingWire reports real estate data firm Trulia says home prices increased Dec. 2011 to Dec. 2012 5.1 percent, a distinct rebound from the 4.3 percent drop the previous year. In the largest annual increase to date, asking home prices rose 3.8 percent Dec. to Dec 2012. While Phoenix saw the
Trulia: Home Prices Continue to Rebound Read More
While the number of foreclosures completed dropped by eight percent in Massachusetts from 2011 compared to Nov. 2012, to 7,158, the number completed in Nov. 2012 was down nearly 60 percent from Nov. 2011, according to what nationalmortgagenews tells MHProNews. Meanwhile, this past Nov. marked only the second month in
Massachusetts has Mixed Signals Read More
According to standardmedia in Kenya, Africa, the National Housing Corporation (NHC), a division of the Ministry of Housing for 49 years (since independence) has only been able to erect 50,000 units of affordable housing per year while the need is for 200,000. NHC is now preparing to build panelized homes
Kenya to Build Panelized Homes Read More
For the third consecutive year, foreclosure filings have declined 2.2 percent in southeastern Wisconsin in seven counties, including Milwaukee and Kenosha, to 10,475 in 2012. Although foreclosures are declining, their drag on the economy is very strong— short sales make up 23 percent of all homes sold in the seven
SE Wisconsin Slowly Recovering Read More
