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.
IndyStar reports the sale of existing homes in the greater Indianapolis metropolitan area rose 12.3 percent in August over August, 2011, according to the Metropolitan Indianapolis Board of Realtors, although the sales pace was slower than the period of April through July. August 2012 sales totaled 2,593 versus 2,308 last …
U.S. stocks rallied today on better-than-expected manufacturing news, but fell back after Federal Reserve Chairman Ben Bernanke defended the Fed’s latest stimulus action and suggested it was time for Congress to act. CNNMoney reports the Dow Jones Industrial Average gained +77.98 points, +.58 percent, to close at 13,515.11, while the …
Research firm Capital Economics tells HousingWire investors seeking to cash in on single-family rental properties best move quickly. Economist Paul Diggle with Capital says early buyers found prices 30 percent below peak, with potential yields of 8-12 percent. Noting it is likely a one-time opportunity, Diggle says as house prices …
Richard Jennison, President and CEO of the Manufactured Housing Institute (MHI) has announced the appointment of Kelli B. Nelson as the new Director of Government Relations. Her responsibilities will include promoting the manufactured housing agenda to Congress and the executive branch, as well as directing MHI policy and utilizing state …
Kelli B. Nelson, new MHI Director of Government Relations Read More
RealtorMag says home prices may not return to their peak of 2007 for ten years, especially in Nevada, California, Florida, and Arizona, according to analytics firm Fiserv. Noting average prices fell a full one third from 2007 to 2012 across the nation, Fiserv predicts prices will rise 3.7 percent a …
The history of the modular Deck House will be the focus of a symposium in Lincoln, Mass. Oct 10, according to WickedLocal. Founded by Bob Brownell in 1959, the exposed post and beam construction homes feature free flow interiors of upscale materials such as mahogany wood and slate, much different …
WashingtonExaminer says a poll of manufacturers and small business owners commissioned by the National Association of Manufacturers (NAM) and National Federation of Independent Businesses (NFIB) reveals 55 percent would not have started their businesses in today’s economic climate. Additionally, 69 percent say President Obama’s regulatory policies have hurt their business …
Real Estate Investment Trust (REIT) Sun Communities, Inc. has declared a quarterly dividend of $0.63 a share for the third quarter, payable Oct. 19, 2012 to shareholders of record Oct. 10, 2012. The company has 29.7 million shares outstanding, according to Yahoo!Finance. Based in Southfield, Mich., MHProNews understands Sun owns …
The National Association of Home Builders reports the pace of new home sales held steady in August at the seasonally-adjusted annual rate (SAAR) of 337,000 units, virtually unchanged from July, according to data from HUD and the U.S. Census Bureau. NAHB Chief Economist David Crowe says, “This latest report indicates …
Even though the third quarter ended on a somewhat sour note, it proved to be quite strong. Additionally, for the year the Dow is up ten percent, the Nasdaq has gained 15 percent, and the S & P has ended Q3 20 percent higher. On the day, however, investors were …
Indexes up for the Year, but Edged Down for the Day Read More
PRWeb reports GDH Housing, LLC in Covington, Louisiana will construct, deliver, and assemble a modular 77 room hotel, comprised of 48 modules, to Williston, North Dakota to ease the rapidly growing need for quality accommodations in support of the oil exploration effort. Through an agreement with modular home builder Ritz-Craft …
The herald-mail reports the Washington County Board of Commissioners in Maryland voted unanimously to opt out of a state mandated requirement to install sprinkler systems in all new one and two-family houses and townhomes. The Maryland General Assembly passed a measure earlier this year to prevent local jurisdictions from diluting …
Marcus & Millichap’s Michael Glass says for commercial real estate investors seeking to diversify their portfolio, the stabilizing housing market and resurgence in financing can make manufactured housing communities a good investment. In particular he notes age-restricted MHCs in prime markets are not increasing in number, leading to competition among …
According to smmirror, the city of Santa Monica, California loaned the Mountain View Mobile Home Inn Residents Association $272,000 in 1996 to convert the property to a co-op owned by the residents. When the plan was determined to not be feasible, City Hall purchased the property in 2000 and maintained …
SheridanSun reports from Sheridan, Oregon near the northwest Pacific coast, the owners of the former manufacturing plant of Liberty Homes, Inc. have borrowed $1.25 million from a New Jersey-based lender. The money will allow Liberty, which closed the plant in Feb. 2011, to sell part of the property by satisfying …
Financial columnist Craig Steiner sounded off on Townhall that conventional housing has far from recovered. He says recent headlines are an effort at media spin, just before the election, to make it sound like housing is on the rebound. Its not. The chart shows the reality of home prices. Steiner …
CNNMoney reports Spain’s government released a budget documenting budget cuts, giving investors some hope and inspiration as U.S. stocks ended a five-day losing streak. The Dow Jones Industrial Average moved up +72.46 points, +0.54 percent, to close at 13,485.97, while the Nasdaq gained +1.39 percent to 3,136.60. The S&P advanced …
Patrick, Skyline, LPX, UFPI and Housing Composite Gain Nicely Read More
A mixed picture of the U.S. economy emerged, suggesting the economy is not growing fast enough to hasten much job growth, according to The Republic. The Commerce Department said orders for long-lasting goods fell by 13.2 percent in August, the biggest drop in over three years, largely influenced by a …
Commissioners in Mooresville, North Carolina, just north of Charlotte, seeking to reduce the number of “non-conforming” manufactured homes in town, passed an ordinance preventing the replacement siting of manufactured housing in areas not specifically zoned for MH. If the owner wants to upgrade or just replace an existing home, it …
From Nevada, MHProNews has learned the Lyon County Commissioners are being asked to change the ordinance that forbids the siting of manufactured homes older than 15 years in the county. The downturn in the economy led to the sale of many homes that were foreclosed upon and had been vacant …
