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.
Following up on a story about the proposed development of an 11 unit modular housing project we posted Nov. 22, 2012 in Ridgefield, Conn., where neighbors criticized the plan over aesthetic and drainage issues, the developer has made revisions. The RidgefieldPress tells MHProNews the number of units on this four-tenths […]
Modular Development Revised Read More
The World Property Channel reports China is backing the development of 20,500 homes in San Francisco to the tune of $1.7 billion, a development project at two former naval bases that will hire 5,000 over a six year period. Borrowing the money is Miami-based Lennar Corp.; terms were not disclosed.
China Backing Major U.S. Housing Project Read More
Notching the largest block of its own stock the company has ever bought, Warren Buffett’s Berkshire Hathaway (BRKA) bought 9,200 shares for $1.2 billion from the estate of a long-time shareholder. At $131,000 per share, it’s roughly 118 percent of the book value as of the end of the third
Warren Goes Hunting–Inside, this time Read More
The Federal Reserve’s quantitative easing policy will continue, according to Fed Chairman Ben Bernanke, but that was not enough stimulus to stimulate investors’ appetites as two of the three major indexes closed flat on hump day. CNNMoney reports the Dow Jones Industrial Average dropped -0.02 percent, -2.99 points, ending the
U.S. Stocks Snooze on Fed Chair’s Remarks Read More
In legislation passed this week by the House of Representatives, nationalmortgagenews says confidential information submitted by banks and thrifts to the Consumer Financial Protection Bureau (CFPB) will be protected, but nonbanks in some states are not included. Independent mortgage banks, payday lenders and finance companies are regulated by consumer agencies
Confidentiality not Protected by Congressional Bill Read More
After dropping year-over-year in 2008 and 2009, HousingWire says multifamily rentals have been rising since 2010, “leading the housing recovery in duration and strength,” according to the CoreLogic Home Price Index’s Dec. report. The property analytics firm states, in the wake of the housing market crash, residential investment is contributing
Rental Market will Remain Profitable Read More
On the heels of a strong 2012, nationalmortgagenews reports Freddie Mac’s chief economist Frank Nothaft predicts single-family loans will decline about 15 percent in 2013 as refinancings recede and home purchases decrease. Noting many borrowers have already taken advantage of low rates this year, Freddie forecasts refinancings will account for
Originations Likely to Fall in 2013 Read More
AsburyParkPress says 50 Federal Emergency Management Agency (FEMA) homes are being prepared to move into existing communities in New Jersey to house displaced victims of Hurricane Sandy along the Jersey shore. FEMA has identified 865 vacant community sites statewide, including 122 in Monmouth County and 129 in Ocean County, two
50 FEMA Homes to be Ready by Christmas Read More
mmaltzan reports the Skid Row Housing Trust in Los Angeles is adding 102 modular housing units for homeless persons to an existing single-story building, called the Star Apartments at Sixth and Maple. The mixed use building, designed by architect Michael Maltzan, encompasses 95,000 square feet and will have retail on
Modular Housing Rises for Homeless in LA Read More
Killam Properties, Inc. (TSX:KMP) of Halifax, Nova Scotia, Canada announces it has closed its public share offering of 2,500,000 common shares at a price of $12. per share to achieve its goal of $30 million. According to 4-traders, the eleven underwriters were lead by RBC Capital Markets, and have an
Killam Closes Public Share Offering Read More
Buoyed by anticipation that the Federal Reserve will continue its stimulus program when it has its final meeting of the year, investors pushed the U.S. stocks higher, as all three major indexes closed up for the day. CNNMoney reports the Dow Jones Industrial Average gained +0.60 percent, +78.56 points, ending
Indexes Nudge up; Housing Stocks Close Mixed, Little Change Read More
There is considerable angst over 2013, and optics make people feel worse or better! Since the Recreational Vehicle Dealers Association (RVDA) did a survey showing confidence in their industry, it may give some in MH the feeling we should be more confident too. The survey, conducted shortly after the presidential
Upbeat in Sister MH Industry Read More
In the wake of Hurricane Sandy, nj reports the New Jersey governor’s office and the Federal Emergency Management Agency (FEMA) are adding more units of housing stock at the former Fort Monmouth military base to the 45 currently being renovated. Additionally, the Fort Monmouth Economic Revitalization Authority is trying to
Old Military Base Renovated for Displaced Read More
FoxNews reports the National Association of Realtors (NAR) says wealthy Chinese have bought over $7 billion of the $82 billion in homes sold to foreign home purchasers, second only to Canada. There are nearly one million millionaires living on mainland China, and about half are interested in investing in the
Sale of Homes to Foreigners Rises Read More
An “Introduction to MH Opportunities Day” will be held prior to the opening of the Louisville Manufactured Housing Show 2013, which runs Jan. 23-25. The goal of the event is to attract new blood into the industry while improving our industry’s image. Target audiences include conventional builders, commercial and real
Industry Growth Initiative Precedes Louisville Show Read More
Asbury Park Press in New Jersey reports in a state where almost 350,000 homes suffered significant damage, according to the Christie administration, long dormant home builders may be in for a long and prosperous stretch. The Shore’s builders are hiring staff and gearing up for increased work, and are finding
Builders Getting Busy in Jersey Read More
InvestorPlace informs MHProNews hordes of college grads unable to find work are moving back home, according to the Census Bureau. In addition to their education, they are carrying one trillion dollars in student loans, which is undoubtedly preventing them from investing in big ticket items like cars and homes, especially
Will Pent-up Demand Continue Penting? Read More
IndependentMail reports from Seneca, South Carolina a volunteer crew from Foothills Community Church of Seneca helped site and finish two modular Oconee County Habitat for Humanity homes. The church is donating $25,000 towards the cost and 100 volunteers from the congregation are helping complete the homes. Bill Banholzer, modular home
Two Modular Habitat Homes Rise in SC Read More
RVPro reports Cavco Industries, Inc. will be featured on the Science Channel’s “How it’s Made” Dec. 13 at 9 PM EST. Focusing on factory-made housing, the model displayed will have solar panels on the roof, prototype backup propane generator, recycled lumber composite decking, on-demand water heating, as well as an
Factory-built Housing on Science Channel Read More
Gains on the stock market were pared back to more modest advances as news from the technology sector buoyed concerns over the fiscal cliff and the European debt crisis. CNNMoney reports the Dow Jones Industrial Average gained +0.11 percent, +14.75 points, ending the day at 13,169.88. The Nasdaq moved up
Indexes Nudge up; Housing Stocks Move Little Either way Read More
