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.
Following up on a story we published April 25, 2012, TCPalm says state-run Citizens Property Insurance in Florida wants to reduce its policyholders by some 687,000, 45 percent. Created by the state to provide insurance for manufactured home owners ineligible for private insurance, Citizens is now the largest insurance company …
BusinessReviewUSA informs us Moosic, PA-based Signature Building Systems, LLC is marking two milestones: Building its 4,000th custom modular home, and its 20th anniversary. CEO Victor DePhillips says, “The last four years have been difficult and we are thrilled to say we have made it through the storm and are currently …
The Manufactured Housing Institute (MHI) reports MH shipments for the first quarter of 2012 totaled 12,780 homes as opposed to 9,696 for the same period 2011, an increase of 31.8 percent. March 2012 saw 4,696 new manufactured homes shipped, 16.4 percent more than the same month 2011. Although shipments of …
UPI says Berkshire Hathaway Chairman Warren Buffett told stockholders gathered at the company’s annual meeting in Omaha his successor will have a sharp eye for profitable long-term investments, good negotiating skills at making large-scale deals to benefit the stockholders, while sticking to a solid investment strategy. Although share prices of …
Although Florida’s shadow inventory decreased nine percent from Q1 2010 to the end of 2011, the 550,000 units still account for almost one-third of the nation’s underwater inventory of 1.6 million properties, according to CoreLogic. In its study, Florida Realtors says 28 percent of the state’s homes as of Feb. …
The U.S. Department of Housing and Urban Development (HUD) and the Department of the Treasury, in their April 2012 housing scorecard, report mortgage delinquencies are significantly below levels of a year ago, having declined four straight months; and sales of existing homes in the first quarter were 5.3 percent better …
CNNMoney reports the Dow Jones Industrial Average bounced back from losses early in the day as investors sifted for the significance of leadership change in France and Greece. The Dow nudged down 29.74 points, -0.23 percent, remaining just above thirteen thousand at 13,008.53. The Nasdaq gained slightly, +0.05 percent, to …
Dow Recovers Early Losses; Louisiana Pacific Rises Nicely Read More
In the near future you will be able to know when your children receive visitors to your home in Tennessee while you are on a cruise ship in the Mediterranean. Applying rapidly evolving technology to home building, Honda Motor Co. is evaluating two test homes in Japan that run on …
Ruth Clayton, 97, the mother of Clayton Homes founder Jim Clayton, died Wed., May 2 at the University of Tennessee Medical Center in Knoxville, according to KnoxNews. Grandson Kevin Clayton, CEO of Clayton Homes, said his grandmother’s strong work ethic was an inspiration to the whole family. She is survived …
DoylestownPatch reports from the Pennsylvania House of Representatives, HB 1767, sponsored by Rep. Robert Freeman, D-Northampton, dictates the responsibilities of an MHC owner during the sale of an MHC under the Manufactured Home Community Rights Act. Up for second consideration this week, MHProNews.com has learned the measure also denotes the …
While the severest of weather cannot stop delivery of the U.S. Mail, residents of Airway Mobile Home Community in Oak Lawn on the south side of Chicago have learned cars or other obstacles that block their mailboxes may detour their mail to a post office for pick-up. SouthtownStarSun-Times reports a …
The United States Bureau of Labor Statistics (BLS) reports mortgage companies added 2,700 full-time employees in March and another 2,800 in April, bringing employment in the mortgage and brokerage sector to 267,600 in March, almost 3,000 more employees than in Feb. of this year. OriginationNews tells MHProNews.com while employment in …
A segment on National Public Radio (NPR) highlights the problem MHC residents may face if the MHC owner decides to sell his community, causing residents to lose a home that may no longer be mobile, and thus their financial investment. Where some people may see this as a huge boulder …
CNNMoney reports the Dow Jones Industrial Average dropped 168 points on news of tepid job growth for April, losing -1.27 percent, to end the week at 13,038.27 The Nasdaq lost even more, -2.25 percent to drop below the 3,000 mark at 2,956.34, while the S&P also closed down, -1.61 percent, …
BloombergNews reports non-farm employment grew by only 115,000 in April, according to the Labor Dept., just enough to reduce the unemployment rate by .01 percent, down to 8.1. That brought the three month average increase down to 176,000 a month, a drop from the 252,000 average in February. However, the …
Job Growth Shrinking, Congress Gridlocked, Federal Reserve to the Rescue? Read More
Following the $25 billion settlement reached in March with mortgage servicers, Ohio’s attorney general Mike DeWine has begun granting $75 million of Ohio’s $335 million to local governments for demolishing abandoned homes. According to what HousingWire tells MHproNews.com, Ohio’s 10,000 dilapidated homes are pulling down home prices and turning away …
In a letter to MPNnow, a resident of Gypsum Mills Estates in Victor, New York just south of Rochester states the 520 senior homeowners in the MHC are being unduly taxed by the town assessor. Stephen G. Poyzer says property assessments have increased an average of 24 percent. Noting that …
MarketWatch says Beazer Homes USA, Inc., one of the ten largest single-family home builders in the nation, announced its entry into the home rental market on a large scale in select markets. Beazer has contributed almost 200 single-family homes in Phoenix and Las Vegas to a newly-formed real estate investment …
In Freddie Mac’s weekly primary market survey, the average rate for a 30-year fixed rate mortgage (FRM) fell to 3.84% from 3.88% a week earlier, marking a new low, according to OriginationNews. The previous low was 3.87% for the week ending Feb. 9. The 15-year FRM also fell to a …
Sys-ConMedia reports 29,000 cooperative businesses nationwide will be represented when 150 leaders of the National Cooperative Business Association (NCBA) gather at the White House May 4 with top policy makers to discuss their roles in job creation and business development in their communities. Liz Bailey, CEO of NCBA says cooperatives …
