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.
Harkening back to a story April 3, 2012 about the Pennsylvania House of Representative’s passage of SB 1141 that requires MHC owners to provide adequate notification and compensation when a community is set to close, the sungazette says it’s too late to help the residents of Riverdale Mobile Home Park …
The Wisconsin Housing Alliance tells MHProNews.com data gathered by the American Banker’s Association’s (ABA) Consumer Credit Delinquency Bulletin loan delinquencies for manufactured housing dropped to 3.76% from 4.08% during Q4 2011. While the ABA says a delinquency is 30 or more days past due, TransUnion, the third largest credit bureau …
CNNMoney reports Fred Dickson, chief market strategist at D.A. Davidson, says the market has declined in May in three out of the last four years, and this one is no exception. The Dow Jones Industrial Average ended the month with a quiet whimper, losing -0.21 percent, 26.41 points, to end …
An estimated 60,000 plaintiffs who lived in Federal Emergency Management Agency (FEMA) trailers following the 2005 hurricane season may share in the most recent settlement of $5 million for injuries due to inhaling formaldehyde that oozed out of the interior walls. RVBusiness says according to court filings May 29, 2012 …
FoxBusiness reports gross domestic product (GDP) increased at an annual 1.9 percent in the first quarter of the year according to the Commerce Department, down from 3.0 percent in the fourth quarter of 2011. Excluding inventory values, which fell in the first quarter, the economy grew at a rate of …
Benzinga tells us the mortgage rate has found another hole that it has fallen through to a record low, as the 30-yr. fixed rate has hit 3.78% and the 15-yr. Fixed rate plunged to 3.08%, according to Bankrate. Still, the reticence of would-be buyers due to job insecurity, tight credit, …
Modular builder Homes by Vanderbuilt is partnering with the Susan B. Komen Triangle Race for the Cure June 9, 2012 at Meredith College in Raleigh, North Carolina. SBWire says Vanderbuilt hopes to raise $5,000, and will match $5 for every $1 raised until the goal is reached. Seventy-five percent of …
SonomaCountyGazette in California names Harold C. Aguirre and the HCA Program as the Sonoma County Housing Coalition’s 2012 Housing Heroes, for quietly helping some 45,000 people over the years avoid homelessness. Aguirre made his family fortune in real estate, beginning in 1964 with MHCs, as HCA Management, and in 1989 …
CNNMoney reports two economist have studied 600,000 housing transactions near 159 new Walmart stores and determined home prices rose 2-3 percent in the two and a half years following the opening of a new Walmart within half a mile. Economists Jaren Pope at Brigham Young University and Devin Pope at …
CNNMoney reports investors shied away from the stock market as fears rose anew concerning the possible failure of Spain’s banking system, leading to a rush of investments in U.S. Treasuries. The Dow Jones Industrial Average dropped a little more than what it gained yesterday, falling -160.83 points, -1.28% percent, to …
European Woes Worries Dow; Many Tracked Housing Stocks Follow Read More
HousingWire says CoreLogic reports half of the 66,000 foreclosures completed in April were from five states: California, Florida, Michigan, Texas and Georgia, in that order. The National Foreclosure Report says the April rate compares to 78,000 a year ago. Since the housing downturn in Sept. 2008 3.6 million foreclosures have …
Bloomberg reports the National Association of Realtors (NAR) says the index of pending sales of previously-owned homes fell 5.5% in April, the highest rate in a year, on the heels of a 3.8 % gain in March 2012. Record low mortgage rates have failed to sustain the pace of demand …
LivingstonDaily in Michigan reports Mike Hendee has been trying to develop his 144-acre site halfway between Lansing and Detroit into a 498 site manufactured housing community since 2002. Favorable rulings by the Livingston County Circuit Court and the Michigan Court of Appeals were overturned by the state supreme court which …
UpdatedNews reports from Abbotsford, British Columbia, Canada residents of Garden Village MHC have been told their community will be closed and the land will be redeveloped. The owners have offered each homeowner $11,000, twice what the government requires, but some of the more recent arrivals say they have spent upwards …
OriginationNews tells MHProNews.com according to the Federal Reserve, single-family loans lending by the 25 largest banks has spiked this quarter, increasing $11.2 billion, at an annualized rate of 56 percent, to a non-seasonally-adjusted total of $4 trillion for the week ending May 9. Home mortgage lending was just below 40 …
RTTNews says while total revenues for Cavco Industries for the fourth quarter 2012 spiked 156% over the same period last year, from $38.8 million to $99.5 million, net profit for common shareholders was $1.65 million, or $0.24 per share, compared to $1.61 million or $0.23 per share for the same …
All three indexes gained one percent or better today as investors did not receive negative news from Europe, and hopes abound that China will support its economy. CNNMoney tells us the Dow Jones Industrial Average moved up 1.01 percent, 125.86 points, to close at 12,580.69. The Nasdaq gained 1.18 percent …
Following a story we wrote May, 8 2012 concerning a plan to replace 125 factory-built homes at the Wagon Wheel Village MHC in Box Elder, South Dakota with 166 modular units, we learn owner Bob Akers is returning to the Planning and Zoning Commission with revised plans, according to the …
The National Modular Housing Council reports shipments of new modular homes rose 18.7% compared to the first quarter 2011, hitting 2,922. Shipments by state relative to the first quarter last year indicate 16 states received more than last year, three received fewer homes, and 12 states experienced no significant change. …
The lights in the housing market in Phoenix suddenly became very bright, according to a report from Keefe, Bruyette, and Woods (KBW) that HousingWire picked up. Following discussions with home builders, banks, and developers, KBW says new home building permits are expected to rise 50 percent in 2012 , as …
