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.
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
As follow-up to a story we posted Nov. 23, 2012 concerning a foundation’s offer to provide free modular housing to Staten Island survivors of Hurricane Sandy who are willing to move to New Milford, Conn., nearly a dozen families have so far responded to the offer. The Stephen Siller Tunnels
Some Staten Island Survivors Heading North Read More
The falling of initial jobless claims and rise in retail sales for November did not offset the ongoing concern about negotiations in Washington that are not going well regarding the impending fiscal cliff. CNNMoney reports the Dow Jones Industrial Average dropped -0.56 percent, -74.73 points, ending the day at 13,170.72.
Weary of Washington Negotiations, Stocks Nudge Down Read More
Originationnews reports the Mortgage Bankers Association (MBA) states origination profits per loan rose 15 percent in the third quarter over Q2, 2012 to $2,465 for each loan. The study zeroes in on small, independent mortgage banking firms, not any of the mega-banks. While costs have increased slightly, Bob Garrett of
LO Profit Margins Move Up Read More
The Wall Street Journal says as interest rates remain low and the housing recovery continues to pick up, more people will be buying traditional houses instead of manufactured homes. Citing the drop in production of manufactured homes the last two months following 16 months of consecutive industry growth, and the
Is the Sky Falling on Manufactured Housing? Read More
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
