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.
EnterpriseNews tells us 450 MHC homeowners from two different MHCs in Carver, Massachusetts, in the southeast part of the state, may soon become their own landlords. The nonprofit ROC (resident-owned communities) is assisting in the $23 million deal for Pine Tree Village and Cranberry Village to become community-owned co-ops, which …
While the election in Greece produced a pro-bailout party win, concerns remain regarding the overall debt crisis in Europe, leading U.S. Stocks to close mixed. CNNMoney says the Dow Jones Industrial Average lost -25.35 points, -20%, to close at 12,741.82. The Nasdaq gained +0.78% to 2895.33, and the S&P moved …
Apartment Realty Advisors (ARA) created National Manufactured Housing Group (NMHG) to focus on MH and RV communities. Their new division sealed the deal on 16 MHCs in the last 12 months. From the 236 site Pocono Park in Wilkes-Barre, PA to Fairway Villas in Acworth, GA with 225 home sites, …
KnoxNews says Clayton Bank and Trust of Knoxville, Tennessee will take over the assets and operations of all four branches of Farmers Bank of Lynchburg, TN that were shut down by regulators on Friday, June 15. According to the Federal Deposit Insurance Corporation (FDIC), Farmers had $156.4 million in deposits …
DanaPointTimes reports from California the Dana Point Planning Commission approved a coastal development permit to allow siting of a 2,352 square foot modular home in Monarch Bay Terrace. Some 30 residents opposed the home, protesting it would lower property values and that it does not fit in with the other …
MROMagazine (Maintenance, Repair and Operations), a publication in support of machinery and equipment maintenance, now includes a brief profile of manufactured housing in its Research and Markets edition. It says the U.S. manufactured housing market is dominated by eight manufacturers who account for 60 percent of the annual $3 billion …
The U.S. Air Force Academy in Colorado reports a 900 square foot modular home is being constructed through the Academy’s Field Engineering and Readiness Laboratory (FERL) by 75 cadets from the Air Force, five from the Navy, and four West Point cadets as part of their hands-on training. “They start …
CNNMoney reports investors, buoyed by European Central Bank President Mario Draghi’s remarks that the bank would provide more cash to deal with problems, especially Greece’s ongoing crisis, grew optimistic, pushing U.S. stocks higher as all three indexes gained. The Dow Jones Industrial Average gained +114.28 points, +0.90%, to end the …
MSNBC reports the Adversity Index from Moody’s Analytics says the economy improved in all regions of the nation, and though not one state remains in recession, 44 of the 50 are recovering at a snail’s pace. Two states, Alaska and North Dakota are in steady recovery, but five—Rhode Island, Wisconsin, …
Slovenian architectural studio Coodo has designed a series of modules that can be coupled horizontally or vertically to provide large household space, or used separately for a playroom or guest house. The thick polyester panels stretched over a galvanized steel frame provide thermal insulation. Two modules can comprise a two …
With manufactured housing increasing production nine consecutive months, as MHProNews has noted previously, smallcapnetwork says the time might be ripe to get into the manufacturing and modular housing market. Cavco Industries (NASDAQ:CVCO) reports net sales for the entire fiscal year 2012 hit $443,066,000, an increase of 156% over last year, …
StateJournal reports from West Virginia Governor Earl Ray Tomblin has extended the executive order that suspends the consumer sales service tax and use tax on manufactured and modular housing purchases, as well as on certain building materials, in the wake of the flooding and wind damage that hit the state …
LasVegasSun tells us Mountain View Community MHC in Henderson, Nevada changed hands earlier this year when Hometown America Communities sold the property to Equity Lifestyle Properties, Inc. (ELS). Leases under Hometown America stipulated that rents could increase a minimum of 3.5 percent with 90 days notice. ELS has told residents …
KeystoneEdge in Pennsylvania reports Ben Franklin Technology Partners of Northeastern Pennsylvania invested $60,000 in high-end modular home builder Taylored Building Solutions in Taylor, Lackawanna County, to update a computer program for tracking financial functions. Ben Franklin Technology Partners (BFTP) is a venture capital investment company that partners start-up tech firms …
Investors gained hope that central banks, including the Federal Reserve, will provide additional liquidity to financial markets if necessary in the wake of elections in Greece on Sunday, as all three indexes registered gains. CNNMoney tells us the Dow Jones Industrial Average gained +155.53 points, +1.24%, to close at 12,651.91. …
Nobility Regains Crown; Most Tracked Housing Stocks Rise Read More
RealtyTrac tells NationalMortgageNews foreclosure filings for May 2012 numbered 205,900, the highest rate in three months, a rise of nine percent from April, but four percent lower than May 2011. Default notices and scheduled auctions increased to 109,000 in May, a 12 percent increase over April and 16 percent more …
Bloomberg News says following the burst of the housing bubble that put almost 25 percent of U. S. mortgages underwater, home equity in the first quarter rose to $6.7 trillion, its highest level since 2008, as homeowners refinanced their mortgages in droves, the biggest jump, percentage wise, in 60 years. …
Over a year has gone by since IBISWorld (infamously) predicted the demise of Manufactured Housing (specifically MH retailers) along with nine other industries, including print newspapers. The recent announcement that Advance Publications will cut 600 jobs among four newspapers underscores the valid concerns abut the weakening potential future for pring …
A Year later: IBISWorld, Manufactured Housing and Print News. Read More
Harvard University’s Joint Center for Housing Studies says the $2.8 trillion rise in household wealth last quarter, state revenues expecting to exceed pre-recession levels of five years ago, and the nation’s service sector continuing to grow all trump the static unemployment rate and Europe’s debt crisis, and indicate an economy …
Mortgage Bankers Association (MBA) says the low interest rates led to mortgage applications climbing by 18 percent on a sequential basis for the week ending June 8, 2012, according to NationalMortgageNews, a rate not seen since April 2009. MHProNews.com has learned the increase is seasonally adjusted. Although refinancings accounted for …
