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.
The Manufactured Housing Association for Regulatory Reform (MHARR) says the House Financial Services Committee (FSC) is holding a hearing today to examine the Dodd-Frank Act’s definition of non-bank financial institutions as “systemically important”, a euphemism for “Too Big to Fail”, meaning the government will protect it from collapse. The Financial …
heNation says Retirees and members of the Manufactured Home Owners Association of America (MHOAA) came from around the nation to tell Sam Zell at the Equity Lifestyle Properties’ (ELS) annual shareholders meeting that raising rents and cutting services at his MHCs is threatening his own clients ability to remain as …
NationalMortgageNews tells MHProNews.com $462 billion in residential mortgages were funded in Q1 2012, the highest volume since the fourth quarter of 2010. The numbers are based on secondary market loan purchases reported by Fannie Mae, Freddie Mac, and Ginnie Mae. For 2010 the industry funded $1.67 trillion in home loans, …
Good economic growth news from Germany was tempered by the failure of the Greek politicians to come with a coalition government, with investors fearing that if Greece does not make its debt payments next month, it could trigger multiple problems for the Eurozone. The Dow Jones Industrial Average fell one-half …
All Three Indexes Fall; Most Tracked Housing Stocks Follow Suit Read More
The U.S. Dept. Of Energy has contributed $600,000 to Southern New Hampshire Services project to weatherize 100 homes in Exeter’s four MHC Co-ops. The Regional Greenhouse Gas Emissions Reduction Fund through the N.H. Public Utilities Commission is donating $2 million for the program to expand to 425 homes in 20 …
InsuranceNewsNet says Don Glisson, Jr. Chairman and CEO of Triad Financial Services has been appointed to the Board of Governors of the state-run Citizens Property Insurance Corp. by Florida Chief Financial Officer Jeff Atwater. Citizens offers insurance to homeowners who cannot obtain coverage through private markets, many of whom live …
The UpperMacungiePatch says the Upper Macungie Township Zoning Board in southeast Pennsylvania voted to approve variances allowing a larger manufactured home to replace a smaller one. The current pre-HUD Code home measures 12 feet by 60 feet. MHProNews.com has learned the new multi-section is 27 feet four inches by 60 …
As part of the agreement it signed last year with Killam Properties of Canada, Kuwait Finance House (KFH) announces it has acquired its second residential property in Canada, the 146 unit Kanata Lakes Apartments in Ottawa, for $42.5 million. As ArabianBusiness tells MHProNews.com, the first joint venture with Killam was …
HousingWire says after a year of investigation, the House Oversight and Investigations Subcommittee will decide Wednesday, May 16 whether to subpoena additional program records from the Dept. of Housing and Urban Development (HUD) concerning reportedly wasteful spending in the HOME Investment Partnership Program. The Washington Post reported last year over …
PRWeb says International Insurance Group, Inc. (IIGI) has created a website to inform consumers of unique insurance risks and coverages for owners and landlords in the MH and RV market. The interactive website allows searches of and quotes from different insurance providers, as well as the opportunity to customize the …
Investors worries abut the financial and political landscape in the Eurozone and concerns for the U.S. banking system in light of JPMorgans’ loss of $2 billion, dropped the Dow Jones Industrial Average -0.98 percent, -125.25 points, to close at 12,695.35. CNNMoney also reports the Nasdaq dropped -1.06 percent to 2,902.58, …
Nobility Shines, Most Tracked Housing Stocks Decline Read More
loansafe reports from Billings, Montana, the city is experiencing a housing boom due to its proximity to the oil boom in western North Dakota. With wome oil field employees working a two-week on and two-week off schedule, Billings is a short plane ride away. The average price for a single-family …
As follow-up to a story we posted March 16, 2012, a developer, Dan Coen, had proposed two modular housing developments comprised of 31 four and eight-person living quarters to house oil and gas workers in the energy boom now hitting the Carrollton County, Ohio area. Land that leased for $5 …
LenConnect in Adrian, Michigan informs MHProNews.com Mid Star Home Builders of Cement City, MI has taken on a new owner. Shelly Saunders is joining her husband, Scott, in operating their Ritz Craft licensed modular home business, which also has a location in Coldwater in southern MI. Scott started the business …
RegisteredRep says, according to recent data from the Joint Center for Housing Studies at Harvard University, 80 percent of Americans over 65 are homeowners, and the Census Bureau notes 65 percent are mortgage free. At the same time, The Urban Institute has determined that 40 percent of those born 1956 …
According to a 2012 Thomson Reuters/University of Michigan survey for consumer sentiment, the index improved from 76.4 in April to 77.8 May 2012, the highest rating since Jan. 2008. RVBusiness tells MHProNews.com the drop in energy prices reduced U.S. producer prices which also eased inflationary pressure. Nearly twice the respondents …
WisconsinRapidsTribune says Ferkey Builders in Saratoga, WI just needs approval from the Saratoga Town Board to build an over-50 modular housing community of 40 homes clustered around seven cul-de-sacs. In order for this and another project to go forward, ordinances dealing with lot sizes had to be amended, which the …
A May 7 email from the Manufactured Housing Association for Regulatory Reform (MHARR) recounts a letter sent April 26, 2012 from the Housing and Urban Development (HUD) concerning an increase in design values for Southern Yellow Pine to take effect June 1, 2012. MHARR’s response to HUD says HUD needs …
The rise of consumer confidence to a four-year high and the stability of the inflation rate in April overshadowed the $2 billion trader loss at JPMorgan. CNNMoney reports the Dow Jones Industrial Average nudged down 34.51 points, just over a quarter of a percent, to end the week at 12,820.53 …
As follow-up to a story we posted May 3, 2012, after a very long debate, the Delaware Senate finally passed Senate Bill 205 that limits rent increases in MHCs to changes in the consumer price index (CPI). Higher increases would need to be approved by an advisory board to the …
