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.
CNNMoney says although existing home sales increased 3.7 percent in March over February, sales were down 6.3 percent from March 2010. Compared to a year ago, the median home price fell 5.9 percent. New home construction permits increased slightly in March, but according to the National Association of Realtors (NAR), […]
Housing Supply Still Outweighs Demand Read More
From Louisiana, the Daily Comet reports the Thibodaux City Council is debating changing the local ordinance to allow factory-built homes in a previously restricted area in this city just west of New Orleans. Three of the four residential zones already ban manufactured housing in response to residents who claim it
Louisiana City May Lift Ban on Manufactured Homes Read More
HousingWire reports that Neal Wolin, Treasury Department Deputy Secretary, defended the Dodd-Frank Act (Dodd-Frank) against critics, charging that the reforms requiring banks to maintain a larger financial safety net for future crises will delay the current economic recovery. Wolin said the current system favors short-term gains over long-term stability and
Treasury Department Defends Dodd-Frank, CFPB Read More
The Dow moved up slightly as investors anticipated corporate earnings reports and housing update, gaining just under half a percentage point to close at 12,253.93. Cavco was up .87 percent, Skyline Corporation gained .53 percent, Nobility Homes and Deer Valley remained flat. The Manufactured Housing Composite gained .89 percent to
Dow Marks Slight Gain, Housing Stocks Up or Even Read More
Bloomberg News reports a new survey says the number of people who think a new home is a safe investment dropped from 83 percent in 2003 to 64 percent at the end of last year. The National Association of Realtors says historically homes have been a safer investment than equities,
Home Ownership Confidence Shaken by Housing Crisis Read More
According to the Sacramento Bee in California, the Manufactured Housing Institute (MHI) reports that UMH Properties Inc. (a real estate investment trust, REIT, in New Jersey) has agreed to pay an estimated $13.3 million for a trio of manufactured home communities in Tennessee with an average occupancy rate of about
New Jersey REIT Acquires Three MH Communities Read More
America On Line (AOL) tells of a $2.5 million factory built home in tony Malibu, California, set on a bluff overlooking the Pacific Ocean and the Santa Monica Bay. The two-bedroom, two bath, 2,300-square-foot home occupies a homesite that rents for $2,000 a month. According to realtor David Carter, several
Astounding Price Tag of Modest Factory-built Home Read More
The Herald and News says modular home builder Integrated Building Systems (IBS) in Klamath Falls, Oregon, has been acquired by OneBuild, Inc., of Seattle. OneBuild also specializes in modular home construction, and plans to expand production in the Klamath Falls factory in southern Oregon, and add 30 construction-related jobs to
Modular Builder in Seattle Acquires Counterpart in Oregon Read More
Airdrie City View of Alberta, Canada, reports a proposed 2,000 homesite, adult manufactured home community nearly ten years in the planning has been voted down by the Rocky View County councilors after almost five hours of debate. Initially approved by the councilors in 2002, the development was to include a
Proposed MH Community Near Calgary Defeated Read More
The National Association of Home Builders(NAHB)/Wells Fargo Housing Market Index (HMI) released a report saying builder confidence slipped in April one point to 16. Now in its 20h year, the HMI comes from builders’ projections for the next six months based on inquiries and traffic. A score over 50 indicates
NAHB Survey Indicates New Home Building is Flat Read More
The Dow dropped 140.24 points after Standard & Poor’s cut its long-term U.S. debt outlook, to close at 12,201.59. Deer Valley gained 41.43 percent, Nobility Homes was up 1.37 percent and Skyline Corporation was up .58 percent. Cavco dropped .58 percent. The Manufactured Housing Composite gained .61 percent to end
Dow Falls as S & P Cuts Debt Outlook, but Most Housing Stocks Advance Read More
According to PRNewswire, Drew Industries (NYSE:DR) will release its first quarter financials May 2, 2011, before the stock market opens. At 11:00 AM ET that morning, this manufacturer of doors, windows, chassis, and bath and shower components for the manufactured housing industry will host a conference call to discuss the
Drew Industries to Announce First Quarter Results Read More
HousingWire reports Citigroup decreased its troubled-mortgage portfolio by 45 percent over the first quarter a year ago, to $7.8 billion. Of the $5.3 billion converted to modification loans, 75 percent were through the Home Affordable Modification Program (HAMP). The redefault rate of the HAMP loans is 10 percent lower than
Citigroup Shedding Delinquent Loans, but Losses Still Mount Read More
The Muskogee Phoenix says borrowers in Muskogee County, Oklahoma, may have a harder time finding financing for a manufactured home than in nearby Wagoner County where the annual median income is higher by $20,000. Chris Condley of First National Bank in Muskogee says for every ten lenders available for traditional-built
Getting MH Financing Remains Tough, Even for Quality Construction Read More
Crain’s Detroit Business reports Champion Homes of Troy, Michigan, has inked a national business deal with Whirlpool Corporation (NYSE:WHR) of Benton Harbor, MI to outfit their manufactured and modular homes with the appliance producers home appliances. Whirlpool signed a similar agreement with home stick-builder Pulte Group last year. The appliance
Champion Homes Signs Single Provider Deal with Whirlpool Read More
Phillyburbs reports 512 inmates will be moving into new modular units at the Montgomery County Correctional Facility just west of Philadelphia. Built by NRB USA in Ephrata, Pennsylvania, each of the four units will contain 128 inmates, in four, 32 inmate dormitory-style pods, four beds in each cubicle. The modular
Modular Homes, Hotels, Offices and… Jail? Read More
In response to the IBISWorld report on manufactured homes sounding the death knell for manufactured housing, MHMSM.com received responses from many long-time industry professionals disputing their conclusions. Industry vets Paul Bradley, Thayer Long (MHI), Danny Ghorbani (MHARR), Doug Gorman, Otis Orsburn, Bob Stovall, Ken Rishel, Derek Thompson and Dustin Youngdahl
Intense Manufactured Home Industry Response to IBISWorld Report Read More
The Dow ended the week down, though it gained nearly half a percent (56.68 points) for the day on news of inflation and consumer sentiment to end the week’s trading at 12,341.83. Housing stocks were mixed, as Skyline Corp. closed up 4.11 percent, Cavco gained .07 percent and Nobility Homes
Dow Ends the Week Down, Housing Stocks Mixed Read More
The Wall Street Journal reports that construction of temporary housing is just beginning in the tsunami/earthquake ravaged north of Japan, with 4337 modular units having been built so far. Australian companies have been meeting with officials of the Japanese Embassy to develop a plan to provide some of the 30,000
Australian Companies Bidding on Modular Units for Japan Read More
The Las Vegas Review Journal reports that the city with the highest foreclosure rate in the nation – Las Vegas – is supplying Haiti with steel modular homes for the one million who remain homeless following the earthquake last year. Sancta, from the Spanish for sanctuary, shipped its first home
Sancta Sending Modular Homes to Haiti Read More
