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 Boston Globe reports the Associated Press says, following the same action in the state senate last month, the New Hampshire House of Representatives passed a bill that prevents local communities from regulating sprinklers. Gov. John Lynch had vetoed the bill, but the House overrode his veto 266-61. The legislation …
HousingWire reports the Mortgage Banker’s Association (MBA) says the measure of loan application volume rose 1.3 percent on a seasonally-adjusted basis this past week. The refinance and purchase indices each increased just over one percent, driven by government loans. The 30-year fixed-rate mortgage (FRM) increased 0.07% to 4.25, while the …
CNNMoney reports the Dow Jones Industrial Average rose 102.55 points, gaining +.90%, to end the day at 11,518.85, led by bank stocks and renewed hopes for the European debt crisis to resolve. The Yahoo! Finance Manufactured Housing Composite Value climbed +0.87% to close at 728.90, as many housing stocks gained …
Bank Stocks Lead Dow Up, Many Housing Stocks Follow Read More
OriginationNews reports that two years after leaving affordable housing developer Bridge Housing Corporation to run the Federal Housing Administration’s (FHA) multi-family program, Carol Galante is operating the entire agency. After David Stevens left the FHA to head the Mortgage Banker’s Association (MBA), Galante has become the acting commissioner. She now …
BloombergBusinessWeek reports Honolulu City Councilman Tom Berg has proposed building modular housing on agricultural lands in Oahu as a means to meet the demand for affordable housing. He suggests allowing the homes to remain there for up to five years, and that the cost of leasing would be similar to …
MHProNews has learned that several dozen Federal Emergency Management Agency (FEMA )manufactured homes have arrived in Texas for people whose homes were destroyed or severely damaged in the wildfires that ravaged Texas in late summer. These temporary homes will be placed as close as possible to the houses the survivors …
IBerkshires reports from Williamstown, Massachusetts, the Board of Selectmen voted to give an MHC a deduction for their water and sewage bill due to the damage from Tropical Storm Irene. All 273 people were displaced from the 225 homes, and the owner of the Spruces Mobile Home Park, Morgan Management, …
HousingWire reports from Zillow that housing prices gained a meager 0.01 percent August over July, with minimal gains in only 68 of the 157 markets covered. The average home price dropped 4.5 percent from August 2010 to $172,600, and is off 28.3 percent since the high mark of June 2006. …
The Sarasota Herald-Tribune reports Saralake Estates LLC was sold to NHCFL138 LLC of Scottsdale, Arizona, for $10.55 million. The purchase of the 200 homesite MHC was financed by General Electric Capital Corporation with a loan of $7.35 million. The new owner, a company controlled by National RV Communities LLC, has …
CNNMoney reports the Dow Jones Industrial Average slipped -16.88 points (-0.15%) to close at 11,416.30, the market peaking and falling all day as investors waited to hear Slovakia’s decision concerning the European bailout fund. The Yahoo! Finance Manufactured Housing Composite Value also dropped, falling -0.36% to close at 722.60, as …
Financial News Service ranks Universal Forest Products, Inc., (NASDAQ:UFPI) number one in sales per share (SPS) at $92.83 in the Building Products Industry. Universal supplies lumber products to the manufactured and modular housing industry, as well as to lumberyards and other builders. The stock outperformed both the Dow and the …
Building Products Industry: Universal Holds Top Spot in SPS Read More
Futures and Commodity Market News reports that SmarTrend, that inveterate follower of 5,000 stocks daily, says Cavco Industries (NASDAQ:CVCO) has the lowest Forward Earnings Yield (FEY) in the homebuilding industry. Based on projected earnings for the year, Cavco is at 0.11% FEY, followed by Meritage (NYSE:MTH) at 0.14%, and Toll …
MHProNews has learned from Lois Starkey, Vice President of Regulatory Affairs at the Manufactured Housing Institute (MHI), that the U.S. Department of Energy (DOE) Office of Energy Efficiency and Renewable Energy (EERE) will offer a series of free webinars aimed at providing information on the Guidelines for Home Energy Professionals …
CNNMoney reports stocks shot up nearly three percent (2.97%) as investors were buoyed by good news from the Eurozone, the Dow Jones Industrial average closing at 11,433.18. Yahoo! Finance says the Manufactured Housing Composite nudged down 1.19% to close at 725.20, as housing stocks closed mixed. Affiliated Managers Group 83.82 …
WSILTV in Pinckneyville, Illinois, reports 300 volunteers turned out at Contempri Industries, Inc. in Pinckneyville to help build a modular house for Joplin, Missouri, residents devastated by the May 22 EF-5 tornado that destroyed 7,000 homes. Some of the workers came up from Joplin to lend a hand. Part of …
Volunteers Build Modular House for Tornado Survivors Read More
The National Mortgage News reports the acting head of the Consumer Protection Finance Bureau (CFPB), Raj Date, speaking at the annual Mortgage Bankers Association (MBA) convention, offered to work with the bankers to help resolve the housing crisis. But MBA President David Stevens, noting their responsibility in creating the crisis, …
Bloomberg reports Peter R. Orszag, vice chairman of global banking at Citigroup and an adjunct senior fellow at the Council on Foreign Relations, says the weak housing market holds down the weak economy, and vice versa. He says the quickest path to economic recovery would be for the government to …
Immediate Depreciation for Abandoned House Investment Could Spur Economy Read More
RVBusiness says the Vancouver Sun reports a new community of factory-built micro cottages is being developed at Port Renfrew, British Columbia, in Canada. The first 40 unit phase of the Wild Coast Cottages Oceanside, each 400 square feet, is nearly sold out. The second, Water’s Edge at Wild Coast Cottages, …
The Seattle Times reports longtime Seattle architect Gordon Walker’s contemporary modular home on Orcas Island arrived on two flatbed trucks, one carrying the steel frame, the other the side panels. The home was assembled in seven days. A practicing architect for 49 years, he says, “I can’t find anything in …
Architect: Senior Housing Resembles Parking Garages Read More
CNNMoney reports that the markets sputtered today as continued economic concerns and a report from the Congressional Budget Office that the deficit in 2012 is projected at 1.3 trillion all took their toll. The Dow closed at 11,103.12 –20.21 (-0.18%), up for the week, but down -4.10% year to date. …
