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 Dow and housing stocks all took a tumble for the beginning of the week, as oil prices rose. The Dow lost two-thirds of a point to close at 12,090.03. Skyline closed down 5.31 percent, Nobility Homes lost 5.18 percent, and Cavco lost 2.89 percent. Deer Valley remained unchanged. The …
According to CNNMoney.com, the government reported another drop in new home construction in January, prompting Yale economist Robert Shiller to say home prices may continue to fall another 25 percent. Shiller compares changes in home prices to income growth, noting that home prices have risen more than income since the …
A series of photographs in the GreaterAnnapolisPatch, of Maryland, documents the erection of a 4,600 square foot modular home. Ordered online after two years of planning, the home was built by Haven Custom Homes in Linthicum, Pennsylvania, shipped as 11 modules, and assembled in one day. It will be ready …
Pictures Depict Assembling of Maryland Modular Home Read More
As reported in the Oakdale Patch, the City Council of Oakdale, Minnesota, is considering a resolution to force 29 Pines Manufactured Home Community to construct an on-site Civil Defense rated shelter for its residents. State law requires either an on-site shelter or one nearby. Previously, in a letter to residents …
According to HousingWire.com, the Detroit Office of Foreclosure Prevention and Response (DOFPR), in conjunction with law firm Potestivo & Associates, initiated a program last November allowing homeowners who have lost their homes in foreclosure to remain in their homes. The initial outreach was too late in the foreclosure process to be effective, …
Program Allows Foreclosed Michigan Occupants to Remain Read More
HousingWire.com reports that for the first time since the beginning of the year, no banks were closed last week by the Federal Deposit Insurance Corporation (FDIC). Twenty-three banks have failed since Jan. 1. Nearly 300 financial institutions have failed in the last two years.
According to a report from the Manufactured Housing Association for Regulatory Reform (MHARR), an exchange of letters between MHARR and HUD, following President Obama’s Executive Order (EO) #13563, in which the president called for an examination of regulations that guide federal agencies, produced a standoff. Ms. Teresa Payne, Associate Deputy …
HUD Policies to Be Examined by Congressional Committee Read More
News of oil hitting $104 a barrel sent the Dow down .72 percent to close at 12,169.88. Cavco’s subsidiary Fleetwood received approval from the bankruptcy court to acquire Palm Harbor. Cavco closed up .55 percent, Skyline Corp. dropped 2.88 percent, Nobility and Deer Valley remain unchanged. The Manufactured Housing Composite …
The Franklin News-Post says Ferrum College in Ferrum, Virginia, is expanding again, this time with another modular dormitory for the expected increase of students going forward. Excavation has begun for the second building, which will be completed in time for the fall semester in August. The $4 million project will …
From NCAdvertiser.com in New Canaan, Connecticut, comes news that members of the Congregational Church in New Canaan are traveling to Puerto Rico March 12 to inaugurate a modular housing program. Their destination is Las Acerolas, Toa Alta, just southwest of the capital, San Juan, where they will meet up with …
Connecticut Mission to Build Modular in Puerto Rico Read More
STLtoday.com reports Ed Atherton, general manager of a Clayton Homes dealership in St. Louis, says, “Our homes get better and better, year after year. These are not the old trailer homes that many people remember.” Noting that the same materials are used in manufactured housing as in conventional houses, he …
Missouri Clayton Homes Hold Strong though Housing Crisis Read More
A custom prefabricated three-story house left Guerdon Enterprises factory in Boise, Idaho, 60 percent complete, and was finished on site in Seattle 45 days later. Jetsongreen.com reports the 1,790-square-foot six-module home designed by Greenfab includes mother-in-law quarters, a rooftop deck garden, and an urban chicken coop. As the company name …
As reported on CapitolWire.com, the Pennsylvania House of Representatives is on the verge of passing a bill rescinding the sprinkler mandate that came into effect January 1, 2011 for all new homes constructed under the 2009 International Residential Code. Mary Gaiski, Executive Vice-President of the Pennsylvania Manufactured Housing Association (PMHA), …
The sprinkler debate in Minnesota attracted a standing-room only crowd to the House Commerce and Regulatory Reform Committee, according to the Twin Cities Daily Planet. The bill would prohibit sprinklers from being installed in new or existing homes. The sponsor of the bill says the National Fire Protection Association measures …
Sprinklers for Homes in Minnesota Legislative Debate Read More
Two new programs designed to help the most troubled homeowners were ended March 3 by a vote of the House Financial Services Committee, as noted by HousingWire.com. HUD’s Emergency Homeowners Loan Program (EHLP) would help out-of-work homeowners borrow up to $50,000 at zero percent interest. The other program is the …
The Dow rose almost 200 points, to close at 12,258.20, as U.S. stocks recorded their best day in three months. Cavco gained 2.61 percent, Nobility Homes was up 1.19 percent and Skyline inched up .85 percent. Deer Valley remained unchanged. The Manufactured Housing Composite was up 1.83 percent to close …
According to The National Association of Home Builders (NAHB), members of the House of Representatives should be urged to show their support for homeownership and the mortgage interest deduction by co-sponsoring H. Res. 25. “This resolution acknowledges the importance of homeownership to individual households, the economy and the nation,” …
Builders Urge Support of Mortgage Interest Deduction Read More
KETV 7 in Omaha, Nebraska, reports that the Omaha Home & Garden Expo held in the Qwest Center has been turned into a production site for a modular home that will be displayed during the show, which begins March 3. Don Hansen, of Nu-Trend Homes, which has built a home …
The Federal Register of March 3 notes a directive from the Obama Administration for the Department of Housing and Urban Development (HUD) to review its regulations to determine if they are “outdated, ineffective or excessively burdensome.” President Obama’s Executive Order 13563, issued Jan. 18, 2011, “Improving Regulation and Regulatory Review,” …
Executive Order Calls for Public Comments on HUD Policies Read More
Forbes magazine says that Warren Buffett’s Berkshire letter to his shareholders did not garner much press coverage about his ownership of Clayton Homes, which is doing pretty well compared to other manufactured home producers. Despite the fact that Clayton’s customers generally have low credit scores, the percentage net loss for …
Buffett Says Clayton’s Careful Loans Maintained Solvency Read More
