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.
Joe Kelly, executive vice-president of the Iowa Manufactured Housing Association (IAMHA), informs MHProNews that the Iowa Department of Revenue has notified local governments that land lease communities are not structured to qualify as co-ops under Iowa Code 499A. As a residential classification, co-ops pay only about half the taxes of […]
MHCs in Iowa cannot become Co-ops Read More
After falling to 13,320 earlier in the day and then climbing quickly to just over 13,360, CNNMoney says the Dow Jones Industrial Average finally settled for a very modest gain of +0.07 percent, +9.99 points, to end hump day at 13,333.35. The Nasdaq edged up +0.32 percent to 3,114.31, while
Nobility Spikes; Housing Composite, other Tracked Stocks Move Little Read More
YAHOO! Finance says Eugene W. Landy, Chairman of the Board, and Samuel A. Landy, President of UMH Properties, Inc. (NYSE:UMH) of Freehold, New Jersey, will present an overview of the company to the Philadelphia Securities Association at the Union League in Philadelphia, Pennsylvania, Wed. Oct. 10, 2012. The luncheon meeting,
UMH to Present Overview Read More
PattayaDailyNews from Bangkok, Thailand in Southeast Asia tells MHProNews the National Housing Authority is utilizing modular components such as doors, walls, windows, and roofing supports, to build homes that can float during flooding. Due to global warming and rising seas, it is anticipated Bangkok will be partially or wholly underwater
Amphibious Homes Being Built in High-risk Flood Areas Read More
From Canada, TumblerRidgeNews in north east British Columbia tells MHProNews Triland International is building a series of modular duplexes in Tumbler Ridge, the first major new housing project in that area. The top housing unit will have two bedrooms and two baths, while the bottom dwelling will feature three bedrooms
Modular Homes from Idaho going to Northern British Columbia Read More
Benzinga reports that Sun Communities, Inc. (SUI:NYSE) has begun an underwritten offering of 3,000,000 million shares of common stock, with a 30-day option for the underwriters to purchase an additional 450,000 shares. Sun intends to use the proceeds to pay down debt, fund possible future acquisitions, and for general corporate
Sun Communities Announces Public Offering Read More
CNNMoney tells MHProNews the unemployment rate not only hurts those looking for work, it also hurts those with jobs. Why? Employers have no incentive to give raises because they know workers have few options. Hourly wages dropped by one cent in August, which indicates workers have little or no bargaining
Low Wage Growth = Slow Economic Rebound Read More
CNNMoney says caution continued to hover in the wind on Wall Street as investors awaited word from the European market and the Federal Reserve later this week, but this time sending the Dow Jones Industrial Average up to 13,323.36, gaining +69.07 points, +0.52 percent. The Nasdaq edged up +0.02 percent
All Three Indexes Nudge Up, Sun Falls the Most Read More
HousingWire reports Ann Fulmer, with fraud analytics firm Interthinx, said the nation’s housing meltdown, with all the mortgage-backed securities litigation, bailouts, lost home equity, and lawsuits cost $13 trillion, almost as much as the $15 trillion gross domestic product (GDP) for 2011. Speaking at a Mortgage Bankers Association (MBA) gathering,
Housing Crisis Tab: Nearly a Year’s GDP Read More
GizMag reports a new roof and attic system developed by the Dept. of Energy that can be retrofitted to existing homes could save homeowners $100 a year, offsetting the $100 to $300 typically lost annually because of poorly sealed heating and cooling ducts that leak conditioned air into attics. Developed
New Roof System Saves Energy Expense Read More
BloombergBusinessWeek says while Republican presidential candidate Mitt Romney has vowed to repeal Dodd-Frank, it’s more likely he would water down some of the restrictions on the most lucrative and profitable investments while providing sufficient oversight to protect the banks. Specifically, banks would toss restrictions on investments in private equity and
Dodd-Frank not Likely to Vanish Read More
BloombergBusinessWeek says just two months before the presidential election, the U.S. economy added only 96,000 jobs in August, indicating recovery from the recession still has a lot of ground to cover. The unemployment rate fell to 8.1 percent, due to 368,000 leaving the work force, as the labor-force participation rate
Jobs, Jobs, and Fewer Jobs Read More
As follow-up to an article we published Aug, 24, 2012 on the Delaware race for state representative in District 37 between incumbent Republican Briggs King and Democrat Beth McGinn, Ms. King clarifies her stance on MHCs in a Cape Gazette VillageSoup article. While Ms. McGinn criticized King for abstaining from
Delaware Legislative Candidate States MHC Position Read More
CNNMoney reports the $25 billion settlement between the country’s five largest banks and the state attorneys general and federal government has led to JPMorgan Chase offering mortgage relief for thousands of its customers. The settlement gives banks the most credit for loan modifications completed in the first year, so Chase
Mortgage Relief comes from Servicing Settlement Read More
CNNMoney says caution was the word on Wall Street as investors awaited word from the European market and the Federal Reserve, sending the Dow Jones Industrial Average down to 13,254.29, losing -52.35 points, -0.39 percent. The Nasdaq also fell, dropping -1.03 percent to 3,104.02, while the S&P lost -0.61 percent
Dow Edges Down while Cavco and Housing Composite Rise Read More
IHS Global Insight economist Patrick Newport, talking to nationalmortgagenews, says, “The trend is still away from homeownership. You still have a lot of foreclosures in the pipeline and people who lose their homes will mostly end up renting.” Rental rates have risen from 2.2% in 2011 to 4.1% in 2012,
Multifamily Rental Units Increasing Nationally Read More
DallasNews tells MHProNews with 29 new multi-family projects beginning and 27 new staff members at Dallas City Hall in the building services department, which is funded solely by permitting and building fees, construction is steadily returning. The high end of single-family construction is improving, as is private sector commercial construction.
As Construction Increases, Software will Streamline Building Read More
The National Association of Home Builders (NAHB)/First American Improving Markets Index (IMI) says the number of improving housing markets increased from 81 in August to 99 in Sept., further indication that the housing market is recovering. Based on employment growth, house price appreciation, and single-family housing permit growth for six
More Good Housing News Read More
Hawaiireporter says Honolulu City Council member Tom Berg is proposing a five-year pilot program to erect temporary modular housing for farm workers on the Leeward Coast of Oahu, noting $1,600 a month rents make it difficult to keep long-term employees. Considerable resources are spent training new workers, but the availability
Workforce Housing for Hawaiian Farmers Read More
connecttristates reports a collaborative effort between the North East Community Action Corporation (NECAC) of Bowling Green, Missouri and Louisville, Kentucky-based Next Step will put low income people in modular homes in the NECAC area. The non-profit works with a variety of other non-profits, businesses, and governmental entities to deliver social
Affordable Modular Housing Program for Missouri Read More
