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.
All three indexes lost under one percent as investors sold off near the end of the trading day, worrying about the continuing debt crisis in Europe and falling oil prices. CNNMoney tells us the Dow Jones Industrial Average lost -77.42 points, -0.62%, to close at 12,496.38. The Nasdaq fell -0.86 …
The MarionStar in Marion, Ohio tells MHProNews.com the 1,525 square foot modular house that students in construction technology at Tri-Rivers Career Center have been building since Jan. 2011 will be auctioned off June 18. The three bedroom, two bath home is based on a design from Unibilt Industries. The buyer …
The National Association of Home Builders (NAHB)/First American Improving Markets Index (IMI) states the number of metropolitan areas displaying sustained and measurable improvement for at least six straight months fell from 100 in May to 80 this month. Of the 100, 52 remain on the list, and the 28 added …
The State Journal-Register in Springfield, Illinois says Timber Creek Living MHC in Springfield won the Community of the Year Award for the Midwest at the 2012 Manufactured Housing Institute’s (MHI) National Congress and Expo for Manufactured and Modular Housing. The 55-and-older community is comprised of 200 residents living in 125 …
9and10news from Michigan reports Lippert Components, Inc. out of Goshen, Indiana announces Jeffey Few has been hired as the newly-created Director of Product Development to hone in on state-of-the-art technology and automation in design, machinery, and production. Few has experience in automotive and architectural design as well as a strong …
HousingWire tells MHProNews.com Zillow reports the 30-year fixed rate mortgage (FRM) dropped three basis points from 3.59 percent last week to 3.56 percent. The rate for a 15-year FRM hit 2.95 percent, while a 5-1 adjustable-rate mortgage (ARM) landed at 2.68 percent. Zillow Mortgage Marketplace Director Erin Lantz said she …
Berkshire Hathaway has offered to purchase the loan portfolio and mortgage division of Residential Capital LLC, known as ResCap, which filed for bankruptcy last month, according to Bloomberg BusinessWeek. A subsidiary of Ally Financial Inc., which make loans to auto buyers and finances auto inventories, and which itself is owned …
OriginationNews tells MHProNews.com primarily as the result of lost home equity, the median net worth of American families plummeted from $126,400 in 2007 to $77,300 in 2010, a drop of 38.8 percent in just three years. According to the Federal Reserve’s Survey of Consumer Finances in 2010, three-fourths of the …
All three indexes registered gains over one percent today despite continuing concerns of investors over the fate of Spain’s banking system, and now the possible bailout of Italy. CNNMoney tells us the Dow Jones Industrial Average gained +162.57 points, +1.31%, to close at 12,573.80. The Nasdaq rose +1.19 percent to …
Harkening back to a story we have covered several times, the last being May 29, 2012, the RapidCityJournal reports from Box Elder, South Dakota, the Box Elder Planning and Zoning Commission continues to have questions abut Bob Akers’ Wagon Wheel Estates MHC being converted from 125 factory-built homes to 175 …
Following the 2011 flooding of the Souris River in North Dakota, NorthDakotaRealEstateRama says the acute housing shortage due to the oil boom led to the Federal Emergency Management Agency (FEMA) bringing in over 2000 manufactured homes to house the survivors. Often after a catastrophe FEMA will locate rental housing/motels for …
EmergingMoney tells MHProNews.com the result of falling oil prices is cheaper financing and less expensive materials, which helps the global real estate market. Lower priced oil means: Lower transportation costs for material shipments and commuters; generally lower rate of inflation which helps keep interest rates down; lower costs of home …
Moody’s Analytics says in HousingWire stagnant income growth and lack of adequate down payment is driving rental demand higher, with rents increasing five percent in the larger metropolitan markets, and climbing. Multifamily properties of five or more units saw vacancies fall from 12.5 percent at the start of 2010 to …
ModularHomeCoach reports the United States Department of Agriculture (USDA) has instituted a program through its Rural Development Housing division to lower interest rates and monthly payments for thousands of borrowers who have loans made or backed by the USDA. The pilot program, designed to improve the housing market, is being …
Fears that the $125 billion bailout of Spain’s banking system will not be enough to stem the tide of the European debt crisis kept investors against the wall as all three indexes lost over one percent today. CNNMoney tells us the Dow Jones Industrial Average lost 141.83 points, -1.13%, to …
Dow Falls, Most all Tracked Housing Stocks Follow Suit Read More
Core Logic tells MHProNews.com the reason the supply of homes dropped from a nine month average last June to 6.5 months April 2012 is because there are 11 million borrowers underwater who are unable to unload their homes, which restricts supply and increases the price of existing homes for sale. …
TheGlobeandMail in Toronto says a study by the National Association of Realtors (NAR) last year revealed 20 percent of homebuyers in the U.S. are single women. In Canada more than 15 percent of the homebuyers in British Columbia’s Lower Mainland are women, about the same percentage as couples without children, …
SidneyHerald in Montana says the Sidney School Board is short of housing for faculty at West Side Elementary School and may lease or buy a set of nine modular apartments from M Space, a national modular general contractor. Each unit would have three apartments, and all apartments could be under …
Madison reports one of the first modular homes built in the post-World War II years in Wisconsin is undergoing rehabilitation by a team of at-risk teens and young adults as part of Operation Fresh Start, a nonprofit that teaches life skills and helps them finish high school. Stripped down to …
Writing in NationalMortgageNews, Paul Muolo says some industry officials are suggesting the Consumer Financial Protection Bureau (CFPB) exclude Fannie Mae, Freddie, Mac and Federal Housing Authority (FHA) loans from its loan origination compensation proposals. MHProNews.com has learned the National Association of Independent Housing Professionals says: “As an alternative to the …
