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.
A private equity fund is betting $250 million on foreclosed homes. Menlo Park, California’s GI Partners is investing in WayPoint Real Estate Group, a company that buys foreclosed homes at discount prices and rents them. The Wall Street Journal tells MHProNews this investment is one of the largest by an …
NationalMortgageNews tells MHProNews in Q4 2011 the mortgage division of Wells Fargo & Co. wrote $120 billion of new home mortgages, triple the volume of JPMorgan Chase, its nearest competitor. In the third quarter it did almost double the volume of Chase. In the fourth quarter 2011 Wells’ mortgage banking …
HousingWire tells MHProNews that according to local MLS Realcomp, sales of homes and condos in the metropolitan Detroit area increased 2.2 percent in the last six months of 2011. This figure coincides with a drop in on-market inventory of 22.5 percent, Dec. 2010 to Dec. 2011, to a total of …
Detroit, Houston Home Sales Tell Different Stories Read More
The stock market began the week with positive news from global markets. The Chinese economy grew at an annual rate of 8.9 percent the last quarter, a German sentiment index showed positive results, and manufacturing grew in the New York region. CNNMoney tells MHProNews the Dow Jones Industrial Average gained …
MHProNews has learned from OriginationNews JPMorgan Chase chairman and CEO Jaime Dimon says the “turn” in the housing market is at least getting closer as the economy slowly improves. Noting the decline in the shadow inventory, he says it’s cheaper to buy than it is to rent in some markets. …
Omaha tells MHProNews modern-day homesteaders can get free land in Iowa and Nebraska providing they build a home on the land within five years. The lots are typically only available in smaller towns where not many employment opportunities exist. In addition, house construction costs are not cheap and credit continues …
MHProNews has learned from WBIRTV in Knoxville, Tennessee of a collaborative effort between the Tennessee Valley Authority (TVA)and Clayton Homes of Maryville, TN. Clayton’s total i-House production in the TVA region will have upgraded windows, thicker insulation, heat pumps, power saving lighting, and Energy Star appliances. TVA will offer a …
GreenValleyNews tells MHProNews 15 new modular homes courtesy of Habitat for Humanity have begun arriving in the greater Tuscon, Arizona, area, many still looking for owners. Applicants must be first-time buyers, and are chosen based on ability to pay, need, and willingness to invest 200 hours of sweat equity in …
In his address to a packed room at the Louisville Manufactured Housing Show Jan. 12, Jason Boehlert, Vice President for Government Affairs at MHI, said manufactured housing is a good fit considering the current economic conditions, because “it’s nice to have the home of your dreams, but it’s better to …
MHProNews has learned from the Orlando Sentinel that a developer who was denied the right to site 1,500 manufactured homes in Volusia County on Florida’s east coast on a 1,033 acre tract in 2002 is trying again. Plantation Oaks of Ormond Beach LLC would border a very scenic route of …
The U. S. stock markets are closed today, Jan. 16, in observance of Martin Luther King, Jr. Day. The markets will open again tomorrow at 9 AM for regular trading hours. (Photo credit: NYSE/Wikipedia)
In speaking to a packed room at the Louisville Manufactured Housing Show Jan. 12, Joe Stegmayer, CEO of Cavco/Fleetwood and MHI Chairman told attendees about the ongoing efforts of MHI to advance the Industry’s agenda in Washington. Stegmayer spoke of the critical nature of involvement by state associations, because “all …
MHProNews.com has learned from MassLive the Blu Homes factory in East Longmeadow, Massachusetts, which opened in 2010, has closed and production facilities have relocated to Vallejo, California. While the sales office and design studio will remain in Waltham, MA, spokeswoman Dana Smith says, “It’s not about what went wrong in …
Longtime industry member, and president and founder of McDonald Modular Solutions (MMS), Inc., Bruce E. McDonald, 72, passed away in Birmingham, Michigan, Jan 10, 2012. He entered the family business in 1962, and by 1968 was converting used mobile homes into offices. He was credited with pioneering modular buildings for …
At the Louisville Manufactured Housing Show, Jason Boehlert, Vice President of Government Affairs for MHI, responding to a question from MHProNews.com about the possibility of altering the provisions of Dodd-Frank that negatively impact the MH industry, said, “Where a lot of these measures fail in reforming Dodd-Frank is when they …
According to an October survey of 1,500 homeowners conducted byYahoo Real Estate, Origination News tells MHProNews.com one-third of the respondents know someone who has been through foreclosure, and 51 percent say the federal government should do more to assist distressed borrowers. Twenty-seven percent said the government should do no more, …
Half of Survey Respondents Want Energy Efficient Home Read More
As a follow-up to our story Nov 8. 2011, MHProNews.com has learned from MLive in Michigan that the first phase of the Smith Village Neighborhood development of 27 modular homes was completed as scheduled, Dec. 31, 2011. Champion Homes and Russell Building Group are constructing 83 dwellings in Flint, MI …
The Motley Fools’ Robert Eberhard tells MHProNews.com an investment in Berkshire Hathaway (NYSE:BRK-B) stock benefits from being a company, or stock, hand-picked by Warren Buffett. Eberhard compares it to investing in a no-loan mutual fund. The stock is less expensive than it has been recently, and Berkshire’s board has authorized …
Stocks moved down slightly as investors witnessed a fall in fourth quarter earnings for JPMorgan Chase and the credit rating for several European countries was downgraded. CNNMoney reports the Dow Jones Industrial Average lost 48.96 points, -0.39 percent, to close at 12,422.06. The NASDAQ fell -0.51%, and the S&P dropped …
Dow Slips at Week’s End; Housing Stocks Close Mixed Read More
RVBusiness tells MHProNews.com Sun Communities, Inc. is offering four million shares of its common stock at $35.50 per share, a sale that is set to yield $142 million. As part of the underwritten registered public offering, Sun has granted the underwriters a 30-day option to purchase 600,000 additional shares. The …
