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.
ABC-AU reports from Queensland, Australia Gateway Constructions has won a $4.5 million contract to build 12 new modular homes for the Cape York Aboriginal community in the far northeastern tip of Australia. According to Queensland Housing Minister Dr. Bruce Flegg, although the housing will be built in a factory in […]
Modular Homes Down Under Read More
RTTNews reports Freehold, New Jersey-based UMH Properties, Inc. has priced a registered offering of 1.25 million shares of its 8.25% Series A Cumulative Redeemable Preferred Stock at a price of $25.50 per share, which will total 3.66 million shares of Preferred A stock outstanding. The offering is anticipated to raise
UMH Registers Stock Offering Read More
With companies only lukewarm about the remainder of the year amid tepid corporate returns for the third quarter, investors shied away from the tables, as the Dow hit a choppy road, and the three indexes moved only .07 percent or less. CNNMoney says the Dow Jones Industrial Average gained +3.53
Stocks End the Week Sluggish Read More
Philly reports low-income housing in a section of Philadelphia called Logan rivals high-income housing elsewhere. The three modular rowhouses are stylish and modern, and among the most energy efficient homes anywhere, with solar paneled roofs that reduce the energy consumption level to near zero, crucial for the poorest of the
High Income Residences for Low Income Residents Read More
According to mcall, Pennsylvania Gov. Tom Corbett signed into law House Bill 1767, a measure that amends the Manufactured Home Community Rights Act that requires written notice to homeowners of a decision to close a community. The law also prescribes relocation expenses when homeowners do not have the means to
New PA Law Affects MHCs that Close Read More
Since Garden Homes Management Corp. began its attempt to construct a 124 homesite MHC in Oxford, Conn. in 2006, it has endured numerous hearings, commission meetings, studies, court battles and appeals, always being told, like that old gospel tune, there is “One More River to Cross.” As MHProNews has posted
Garden Homes Denied Again Read More
In its survey of 284 chief executives in Oct. 2012 regarding the presidential election, ChiefExecutive reports 83.2 percent of CEOs intend to vote for Mitt Romney, nearly identical results to a survey of 334 separate CEOs in Sept. 2012. Additionally, if Romney is elected, CEOs say they are more likely
Business Leaders Overwhelmingly Support Romney Read More
Despite a drop in first-time unemployment claims, a rise in pending home sales, positive news on the sale of durable goods for Sept., and good news about Greece, the U.S. stock market moved little as a mixed batch of corporate returns and uncertainly ahead of the presidential election weighed on
Investors Shy from Market; Patrick and Sun both Drop Read More
RVBusiness says real estate investment trust (REIT) Sun Communities, Inc. (SUI) reports an increase in sales for the third quarter 2012 of $83.1 million versus $74.7 million for the same period 2011. Sun incurred a third quarter net loss of $275,000 as compared to Q3 2011 when the company lost
Sales Up, but Profits Fall Read More
Fosters reports from Somersworth, New Hampshire students at Somersworth High School and Career Technical Center are putting the finishing touches on a 1,500 square foot modular home that will likely go to a local needy family. Many of the 30 modular homes built over the years have gone to non-profits,
HS Students Build Modular Homes Read More
MH and RV component supplier Patrick Industries, Inc. (PATK) says third quarter 2012 net sales were up 45.9 percent to $112.9 million from $77.4 million in Q3 2011, a 13 percent increase of which was in the manufactured housing division. As sacbee tells MHProNews, net income from the third quarter
Patrick Industries Shows Gains Read More
CNNMoney informs MHProNews the tripling of short sales in the last three years has led to banks being overloaded with requests, which has spawned a mortgage fraud called “flopping.” An underwater borrower gets the lender to agree to a short sale. The seller then “doctors” the house with offensive smells,
Flopping is the New Flipping Read More
MHProNews has learned from CorrectionalNews a U.S. company built a modular 1,232-cell federal prison in Chiapas, Mexico using local workers for the project. Pennsylvania-based Rotondo Weirich’s Latin America arm, RW Antares, partnered with Arendal to establish an onsite facility making the 376 precast concrete modules. The extreme heat in Southern
Modular Prison Rises in Mexico Read More
NationalMortgageNews tells MHProNews according to the Bankers Mortgage Association applications fell 12 percent for the week ending Oct. 19, 2012. Mortgage apps fell 4.2 percent the previous week, according to the trade group’s market composite index, which covers some 75 percent of residential retail lenders. Refinancings as a total of
Mortgage Applications Fall Read More
Investors stayed close to the wall today, concerned about mixed corporate earnings, the fiscal cliff, and European debt issues, as all three indexes edged down. The Dow Jones Industrial Average fell 25.19 points, -0.19 percent, to finish the day at 13,077.34. CNNMoney says the Nasdaq lost -0.29 percent, -8.76 points
Most Tracked Housing Stocks Rise, Led by Nobility and Patrick Read More
Based on data from HUD and the U.S. Census Bureau, the National Association of Home Builders NAHB) reports new single-family home construction rose 5.7 percent in Sept. to a seasonally-adjusted annual rate (SAAR) of 389,000 units. This marks the best sales rate in 2 1/2 years. NAHB Chief Economist David
JetsonGreen reports Los Angeles-based Connect:Homes has developed a patented system for delivering their modular homes to reduce the overall expense. Noting costs to ship a prefabricated home cross country can amount to $100,000, but to send a container with 64,000 pounds of goods around the world for $5,000, founders Jared
Modular Homes Built to Ship Inexpensively Read More
NASDAQ reports in a TV interview this morning, Oct. 24, on CNBC, Warren Buffett says the housing market has turned a corner and home construction is improving, and he expects Berkshire businesses tied to that industry to pick up. Despite the global economy slowdown, the Oracle of Omaha says the
Warren Buffett Opines Read More
CNNMoney reports the third quarter in Spain has seen a shrinkage of 0.4 percent in both government and household spending. The fourth largest economy in the Eurozone contracted 1.7 percent year-over-year for Q3 2012, compared to 1.3 percent in the second quarter. A 25 percent unemployment rate and the government’s
Spain’s Pain could Hit Here Read More
HousingWire reports in the wake of the financial meltdown, the nation gained 4.8 million renters in the last six years while losing 1.7 million owner households, according to the Mortgage Bankers Association (MBA). In the housing finance sector, the MBA predicts mortgage originations will hit $1.7 trillion in 2012, an
MBA Prognosis: Slow Crawl to Health with Potential Busted Knees Read More
