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.
NJToday tells MHProNews an Assembly committee in the New Jersey legislature approved fire safety legislation that would require all new single and two-family homes to have a fire suppression system that conforms to the State Uniform Construction Code. Under the “New Home Fire Safety Act” a certificate of occupancy would […]
Manufactured Housing Dodges Fire Suppression System Read More
Tech stocks gave the market a push today, especially Apple’s rise of 1.6 percent, but the impending fiscal cliff continues to cast a gloomy shadow. CNNMoney reports the Dow Jones Industrial Average gained +0.30 percent, +39.55 points, ending the day at 13,074.04. The Nasdaq moved up +0.52 percent, +15.57 points,
Three Indexes Nudge Up; Drew Gains, Patrick Falls Read More
The FHA Emergency Fiscal Solvency Act (H.R. 4264), to insure solvency of the agency’s single-family insurance fund, passed the House 402-7 last Sept. and is awaiting action before the Senate Banking, Housing and Urban Affairs Committee. House Financial Services Committee Chairman Spencer Bachus sent a letter to Sen. Tim Johnson,
FHA: Another Cliffhanger? Read More
Many community banks are still weighed down by non-performing construction loans, so their regulators do not want them issuing new construction loans, especially since so many small banks sank when the housing bubble burst. Originationnews tells MHProNews with housing starts up 3.6 percent Oct. 2011 to Oct 2012, community banks
Community Banks Still on the Sidelines Read More
According to the National Association of Home Builders (NAHB), the number of metro areas with six months of improving market conditions for the housing industry increased by 84, Nov. to Dec., a huge jump to 201 total. Eight areas were removed from the list. The NAHB/First American Improving Markets Index
Housing Markets Improving Read More
Nationalmortgaenews tells MHProNews in a survey of 681 respondents by Carlisle & Gallagher (C&G) of Charlotte, NC in Sept., 48 percent would feel comfortable with a mortgage from PayPal, and 33 percent with WalMart. 81 percent are satisfied with banks, 56 percent are weary of the length of time required
In the most recent MH commentary focused on the devastation Hurricane Sandy left behind in New Jersey, specifically, the 122,000 structures damaged or destroyed, Gov. Chris Christie has recently approved a long range five-prong solution to the housing problem. In addition to rehabbing and repairing existing structures and maximizing rental
According to Mortgage Bankers Association’s (MBA) data, refinancings accounted for 83 percent of new mortgage business, up from 81 percent the week before, as mortgage applications rose five percent, apparently with little concern for the fiscal cliff issue. Tying the all-time low, the average contract rate for a 30-year FHA-insured
Positive corporate news and promising news from President Obama on solving the fiscal cliff problem nudged two of the three major indexes a little higher, although many housing stocks we track lost ground. CNNMoney reports the Dow Jones Industrial Average gained +0.64 percent, +82.71 points, ending the day at 13,034.49.
Afternoon Rally Drops as many Housing Stocks Follow Suit Read More
Yahoo!Finance reports Nobility Homes, Inc. of Ocala, Fla., in announcing financials for the third quarter ending Aug. 6, 2011, says net sales were $2,881,572 as compared to $4,351,040 for the same period in 2010. Loss from operations in the quarter was $929,145 as opposed to a loss of $2,963 for
Nobility Reports Q3 2011 Financials Read More
Forbes reports one way to measure the level of fear in a stock is the Relative Strength Indicator (RSI), a technical analysis indicator which measures momentum on a scale of 0 to 100, and anything below 30 translates into a stock being oversold. Tuesday’s trading on the Toronto Stock Exchange
Forbes: Make a Killing with Killam? Read More
HUD’s Office of Sustainable Housing and Communities (OSHC) reports in its attempt to coordinate housing and jobs in specific communities, in 2010 and 2011 it awarded 152 grants in 48 states totaling $240 million that in turn generated $253 million in private investments and commitments from local partners. HUD’s investment
HUD’s Investment Generates Private Investment Read More
In discussing the future roles of Fannie Mae and Freddie Mac in multifamily housing finance, HousingWire tells us the Mortgage Bankers Association (MBA), in a White Paper, outlined a method for government to attract large private capital. New policies need to be enacted that provide a stability and insurance backstop
Private Capital, Government Insurance for Multifamily Read More
CNNMoney tells MHProNews Fannie Mae and Freddie Mac will suspend all bank repossessions the week before Christmas and will not continue evictions until Jan. 2, 2013. Said Terry Edwards, executive vice-president of Fannie Mae, “The holidays are a chance to be with loved ones and we want to relieve some
Wrangling in Washington over the impending fiscal cliff once again stifled U.S. stocks as the three major indexes ended below the break even line. CNNMoney reports the Dow Jones Industrial Average slipped -0.1 percent, -13.82 points, ending the day at 12,951.78. The Nasdaq moved down -0.18 percent, -5.51 points, to
Indexes Nudge Down, as do Many Housing Stocks Read More
International Business Times reports UMH Properties, Inc. (NYSE:UMH) has acquired 141 site Twin Oaks MHC in northern Ohio outside Cleveland for $4,350,000. Based in Freehold, NJ, UMH now owns 56 manufactured home communities comprised of over 10,500 developed homesites in six states east of the Mississippi. President Samuel A. Landy
UMH Acquires Ohio MHC Read More
The Manufactured Housing Association for Regulatory Reform (MHARR) tells MHProNews according to HUD and Census Bureau data, the shipment of manufactured homes for Oct. 2012 dropped five percent from Oct. 2011, 5,418 down to 5,127, but rose by 734 homes over Sept. 2012. Cumulative production for 2012 of 47,036 is
MH Shipments Fall Slightly in Oct. Read More
The SussexCountian reports from southern Delaware State Rep. Ruth Briggs King will sponsor a town hall meeting Dec. 12 in Millsboro, DE along with Deputy Attorney General Greg Strong, who heads of the state’s consumer protection division. Issues to be discussed include the workings of the Rental Assistance Program, the
DE Town Hall Meeting for Residents Read More
The World Property Channel reports according to CoreLogic’s latest report, the foreclosure rate fell by 17 percent Oct. 2011 to Oct. 2012, from 70,000 down to 58,000; the Sept. drop was from 77,000, a 25 percent fall. By comparison, completed foreclosures averaged 21,000 from 2000-2006. 1.3 million homes, 3.2 percent
Foreclosures are Leaving the Scene Read More
MHProNews has been informed the RV/MH Hall of Fame in Elkhart, Ind. will officially open its rental venue, the Northern Indiana Event Center (NIEC), on Thurs., Dec. 18. Local dignitaries, including Greater Elkhart Chamber of Commerce President Phil Penn, will assist in the ribbon-cutting. A light reception will follow the
Ribbon Cutting at the Hall Read More
