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.
HousingWire tells MHProNews the shadow inventory dropped by 1.2 million troubled mortgages in the first six months of 2012. Although those numbers could double by the end of the year, four million underwater loans would remain, down from a high of six million in 2010. According to JPMorgan Chase, of […]
Underwater Loans Drop Read More
The Daily Commercial reports from Leesburg, Florida Pat’s Sales has been providing the aftermarket manufactured home industry with discontinued, salvaged, and overstocked materials for 35 years. The 60,000 square-foot building contains a variety of flooring, cabinetry, plumbing, doors, windows, electrical, siding, moldings and much more, serving the myriad of manufactured
Store Draws MH Owners Read More
HousingWire reports Republican presidential hopeful Mitt Romney, in his housing plan, promises to shortcut Pres. Obama’s foreclosure prevention programs with private deals between banks and borrowers by providing alternatives to foreclosure, like short sales, deed-in-lieu-of-foreclosure, and shared appreciation. He has slammed the qualified mortgage rule and vowed to overhaul the
Romney Hammers Obama’s Housing Recovery Read More
CNNMoney reports foreclosure filings increased one percent in August over July as lenders slogged through a backlog of delinquencies and defaults. Scheduled auctions, default notices and bank repossessions were filed on 193,508 properties in August. Despite the increase, filings fell 15 percent from a year earlier. Foreclosures are rising in
Foreclosures Nudge up August over July Read More
U.S. stocks overall advanced during the day, then faltered as investors took in the global economic picture, to close with little change. CNNMoney reports the Dow Jones Industrial Average inched down -0.13 percent, -17.46 points,closing at 13,579.47, while the Nasdaq gained +0.13 percent to 3,179.96. The S&P lost -0.01 percent
Skyline Advances Well, but Modest Movement Elsewhere Read More
In a letter to the U.S. Speaker of the House of Representatives John Boehner, the National Association of Home Builders (NAHB) expresses concerns with H.R. 4212, the Contaminated Drywall Safety Act of 2012, which is designed to prevent unsafe drywall being used in the U.S. While NAHB praises the Consumer
Home Builders Want to Evaluate Legislative Proposal Read More
JetsonGreen reports Hive Modular in Minneapolis, Minnesota is making inroads into the neighborhoods of Calgary, Alberta, Canada. The B-Line Medium 010, with 2,075 square feet, offers three bedrooms and two-and-a-half baths, and features Plyboo cabinets, Hardie fiber cement exterior, Cambria countertops, Ames tile and Insteon lighting controls. With energy efficient
Modern Modular Crosses the Border Read More
The Manufactured Housing Association for Regulatory Reform (MHARR) informs MHProNews the Manufactured Housing Consensus Committee (MHCC) will hold an in-person meeting Oct. 23-25 in Arlington, VA. MHARR notes this will be the first MHCC meeting in over a year, and the first since the payment dispute between HUD and the
MHCC to Meet in October Read More
The news-times says data from the Census Bureau shows 36.5 million people, 12 percent of the population, moved to a new home this year, up from a record low of 11.6 percent in 2011. The most mobile group, young men 25-29, are moving out of their parents’ home, either returning
Theolympian tells MHProNews Freddie Mac says the average on a 30-year fixed rate mortgage (FRM) fell to 3.49 percent from 3.55 percent last week, matching its lowest rate since long-term mortgages began in the 1950’s. The 15-year FRM dropped to its lowest rate ever, 2.77 percent, from 2.85 percent last
Historic Lows for Mortgages Read More
prairiebizmag reports from Minot, North Dakota, this city hard hit by the disastrous flooding of the Souris River in late June 2011 will now see the beginning of 3,000 modular residential units rise on 323 acres. Champion Home Builders, Inc., in partnership with Genco Bakken Development Group LLC, has broken
3,000 Modular Homes set for Minot, ND Read More
Slowing economic growth in the global economy led to modest declines in U.S. stocks. CNNMoney reports the Dow Jones Industrial Average inched up +0.14 percent, +18.97 points, to close at 13,596.93. The Nasdaq fell -0.21 percent to 3,175.96, while the S&P lost -0.05 percent to close at 1,460.26. The Yahoo!
Modest Movement in Housing Stocks Read More
The news-times reports from Danbury, Connecticut a dozen new modular apartments built with high-efficiency insulation featuring Energy Star utilities and fixtures is a collaborative effort of the city, the state’s General Assembly, Connecticut’s Housing Development Fund, as well as the builders and three local banks. “The utility bills in these
Modular Apartments Dedicated in Conn. Read More
Following-up on a story we published Aug. 7, 2012 regarding measures passed by the Marion, North Carolina City Council July 17 to regulate placement and structural standards of new manufactured housing, mcdowellnews reports the council voted unanimously to repeal the new rules. Local real estate agent Mark Shuman pointed out
City Council Repeals Rules Governing MH Read More
As follow-up to an article we published Aug. 2, 2012, KTBS reports the Jefferson, Texas City Council continued to discuss a proposed ordinance that would ban manufactured housing from certain historic districts of the city. The hour-long discussion, intended to resolve the issue, raised more questions than answers, as a
Council Delays Decision on Siting of Manufactured Homes Read More
IdahoBusinessReview reports Mesa, Arizona-based Greenstar Building Systems has purchased a building in Weiser, Idaho to make modular housing for workers at oil and mining camps. The 67,000 square-foot building was previously owned by Champion Homes, which consolidated its work force into another building during the housing turndown. Greenstar anticipates hiring
Greenstar Expands into Idaho Read More
CNNMoney says investors shifted their interest to the oil market where prices have fallen to a one month low, away from the dimness of the stock market. The Dow Jones Industrial Average inched up +0.10 percent, +13.32 points, to close at 13,577.96. The Nasdaq gained +0.15 percent to 3,182.62, while
Like the Three Indexes, Movement Minor of Tracked Housing Stocks Read More
The National Association of Realtors (NAR) reports in the Christian Science Monitor its index of existing home sales contracts increased 2.4% in July of this year to 101.7, higher than June’s reading of 99.3. It is the highest number since April 2010 when the government’s home-buying tax credit ended. Even
Home Sales Slowly Climbing Read More
DividendInvestor reports Canadian MHC owner Killam Properties, Inc. (TSX:KMP) has declared a dividend of $0.0483 per share payable Oct. 15, 2012 to shareholders of record as of Sept. 28, 2012. Having paid dividends since 2007, Killam has a current dividend yield of 4.5%. As MHProNews has learned, the company owns
Killam Announces Dividend Read More
The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) reports builder confidence for new single-family homes increased for the fifth consecutive month to 40, bringing the index to the highest level since June 2006. (Any number above 50 indicates builders see conditions as good rather than poor.)
Housing Starts Increase Nationwide Read More
