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) notes the irony of the Department of Housing and Urban Development (HUD) prosecuting the operators of MHCs in Minnesota and Alabama for discriminating against minorities when in fact HUD routinely discriminates against potential manufactured home buyers by making it more difficult and […]
Better-than-expected housing market news and anticipation of the fed chairman’s remarks due Friday kept U.S. stocks in mixed limbo today, making small change in either direction, as the three major indexes moved 0.17% or less. CNNMoney reports the Dow Jones Industrial Average fell -21.68 points, -0.17%, to end at 13,102.99.
Patrick Ind. Gains, Three Major Indexes Barely Budge Read More
As follow-up to a story we published July 5, 2012 about four shipping containers converted into an energy efficient modular home with Energy Star appliances and other green technology features, neighborhood residents continue to be upset about the modern-look building fitting in with 1950’s style homes that dot the area
Cargo House Continues Creating Consternation Read More
Two of three residential real estate investment trusts (REITs) recommended as having a good yield by Marc Gerstein at seekingalpha are MHC owners. Noting the tight lending standards for potential homebuyers, the accompanying unpredictable job market, and the rise in the rental market, Gerstein says UMH Properties appeals to people
Two MHC REITs have Good Yields Read More
The abqjournal in New Mexico reports a proposal to make manufactured housing have a more southwestern style look may meet with opposition because of the increased cost to people living in the houses. As part of an initiative to improve the Airport Road area in south Santa Fe, Councilor Carmichael
Proposal would Require MH to have “Southwest Look” Read More
With refinancing volume representing 71% of total loan purchases, at $23.1 billion, Freddie Mac reported it purchased $32.5 billion in loans from mortgage lenders in July, down from $44.1 billion in June, a drop of 26%. originationnews tells MHProNews while Freddie said loan purchases increased in June by $8 billion
GSE Loan Purchases drop 26% Read More
evergeticcity reports the grand opening of Heritage Manor III in Fort St. John in northern British Columbia, Canada, an eight unit senior’s modular housing development valued at $1.8 million. The project is part of the Senior’s Rental Housing Initiative to develop 1,300 affordable housing units across the province with help
Modular Living for Seniors in Canada Read More
HousingWire reports one definite sign of good news, and another likely source of good news later this week. The first is there were no bank failures over the weekend. At this time last year regulators had closed 68 banks, but only 40 have been shuttered so far this year. Secondly,
Bank Failures Down, Fed Stimulus Coming Up? Read More
Investors, hoping for some word of stimulus from central banks, shied away from much activity today, reflected in the three indexes which moved less than one quarter of a point in either direction. CNNMoney reports the Dow Jones Industrial Average fell -33.3 points, -0.25%, to end at 13,124.67. The Nasdaq
Nobility Active Moving Up, Most Everything Else Ho-Hum Read More
Tropical Storm Isaac entered the Gulf of Mexico early Monday staying on a northwesterly track away from the Florida peninsula, but eerily similar to Katrina’s in 2005. According to the National Hurricane Center Isaac is expected to be a hurricane in a day or so before it hits land fall.
Urgent Tips for Manufactured Housing Professionals in Isaac’s Path Read More
WaToday reports from Australia modular construction techniques have been used in mining camps and other remote areas to house workers, where materials and labor are expensive to import for onsite construction. Modular methods have also contributed to the development of public buildings and social infrastructure such as schools, hospitals, nursing
High-end Modular Hotels Down Under? Read More
The Brownsville Herald in Texas says the San Benito utility board will try to pass a $10 monthly fee on manufactured homes to help pay for a $17.7 million water and sewer plant upgrade in this city just north of Brownsville. Last year the city levied the fee on unmetered
City to Impose Fee on MH Read More
gobogolusa reports the Washington Parish Planning Commission in Louisiana is considering amending parish regulations that prevents any manufactured home made before 1988 from being sited in the parish. That ordinance was instituted to prevent decrepit homes from being sited in the parish and rented as substandard housing, but the Louisiana
Pre-1988 HUD Code Homes may Receive Variance Read More
As follow-up to a story we published Aug. 17, 2012 about loan originator compensation, the Consumer Financial Protection Bureau (CFPB) has issued a new proposal which gives management more control of pricing, and prohibits loan originators from leading borrowers into higher cost or higher risk loans as a means to
CFPB Amends LO Compensation Proposal Read More
Harking back to a story we have been following since Sept. 2011 and that we last covered July 13, 2012, Edgeway Mobile Home Park in Middleboro, Massachusetts has been under a cloud of violations, court judgments, and missed deadlines since it first opened in the 1990’s, and now, since original
Problem MHC on Block Read More
Investors reacted to a letter from Federal Reserve Chairman Bernanke stating there is more room for stimulus to help the economic recovery, pushing all three indexes up, although they still lost ground for the week overall. CNNMoney reports the Dow Jones Industrial Average gained +100.51 points, +0.77%, to end the
Nobility Leads Housing Stocks Charge, Gaining 8.37% Read More
Stockhouse reports T.J.T. Inc. of Emmett, Idaho announced the resignation of Shawn CJ Kling as President and CEO as of today, Aug. 24, 2012 to be replaced by Larry E. Kling, who has been on the board of directors since 2001. The new CEO served in that same role for
Exec Change at T.J.T. Inc., from One Kling on to Another Read More
sussexcountian reports from Georgetown, Delaware manufactured housing communities are becoming a hot topic in the race for the state representative seat in District 37. A “rent justification” bill that would have required approval from the Governor’s Advisory Council on Manufactured Housing for any increase in rent at an MHC beyond
MHCs are Issue in Delaware House Race Read More
nationalmortgagenews tells MHProNews research firm Zillow says in its “Negative Equity Report” 400,000 fewer mortgages fell into underwater loan status in the second quarter 2012 compared to the first quarter, dropping from 15.7 million to 15.3 million Americans. Percentage-wise, the numbers dropped from 31.4% of all homeowners with balances higher
Underwater Loans Fall Read More
As follow up to a story we posted Aug. 13, 2012 concerning Cameron’s Mobile Estates in Santee, California attempt to raise rents in their 303 site community by an average of $422. to $557, utsandiego says the Santee City Council unanimously upheld a decision by the Santee Manufactured Home Fair
City Council Rejects Site Rent Increase Read More
