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.
Businessweek reports that Warren Buffett’s Berkshire Hathaway Inc. plans to sell $500 million of notes to repay debt used by its Clayton Homes manufactured housing unit. The magazine reported on its website that five-year senior notes may be issued through Berkshire Hathaway Finance Corp. and may pay about 87.5 basis …
Berkshire to Sell $500 Million in Notes to Repay Clayton Debt Read More
Housing may seem like it’s in the tank, but a look by Forbes at markets over the last decade tells a different story. The magazine reports that the value of a square foot of housing in the U.S. is up 58 percent from its January 2000 level. New York performed …
HousingWire reports that double-digit declines in the mortgage delinquency rate for all 50 states will occur through next year, according to TransUnion. The company expects the national mortgage delinquency rate to fall by about one-fifth to 4.98 percent by the end of 2011. The company projects the rate at 6.21 …
Double-digit Declines in Mortgage Delinquency Projected Through 2011 Read More
Construtech ran an article about smart appliances coming to the construction industry from General Electric. GE Appliances & Lighting plans to launch a portfolio of products that provide insight into energy usage across the home. The article says through a series of products that leverage connected technologies, such as smart …
The Manufactured Housing Institute reports in its Week in Review that the Environmental Protection Agency recently announced new requirements for qualifying site-built and modular homes for ENERGY STAR, which will go into effect beginning next year. The Systems Building Research Alliance is in the process of revising the modular program …
EPA Announces New Energy Star Requirements for Modular Housing Read More
UPI.com reports that there may be a large shadow inventory of foreclosed homes in the American Heartland. The reason: no data is collected from small lenders or lenders that operate exclusively in rural areas. Homeowners in the heartland struggle with many of the same factors that plague urban and suburban …
Rural Foreclosures: The Hidden Heartland Inventory Read More
A U.S. mortgage sub-sector historically known for its problematic performance has emerged as one of its more stable performers, according to Fitch Ratings in a new report. The manufactured housing sector has experienced very slight increases in loss severities, net loss rates and 60-day delinquencies over the last year. This …
Fitch: U.S. Manufactured Housing Remains Stable Amid Market Turmoil Read More
With plans to change the Mortgage Interest Deduction (MID) being presented to Congress in hopes of reducing the federal budget deficit, MHMSM.com, along with homebuilders, industry and realtor groups is urging the maintenance of the benefit in its full potency. “The owners of manufactured homes, like all homeowners, benefit from …
MHMSM.com Urges Preservation of Mortgage Interest Deduction Read More
Stocks fluctuated throughout the day Monday as oil prices hovered at a two-year high and silver hit a 30-year high. The Dow ended down about 20 points. The Manufactured Housing Composite Value moved up a percentage point, however, as some companies added to their share price. Deer Valley added 14 …
Solar Village Homes of Boulder, Colorado announced recently it has chosen Epoch Homes to manufacture the Solar Village line of energy-efficient systems-built homes. Epoch will build the Solar Village Prefab Homes in the six New England states, New York and New Jersey. “Epoch Homes is proud to add these cost …
A call to Jim Dietrich, vice president of sales at Roy’s Home Center in Gobles, Michigan on another matter allowed us some insight into the market there. Somewhat expected, Dietrich reported sales of manufactured homes to be slow, similar to the over-all housing market. “We’re having a hard time getting …
After a day in the red, the Dow closed modestly higher Friday following a week of strong gains. News that the unemployment rate rose to 9.8 percent in November brought the blues to Wall Street for most of the day. Construction companies contributed to the lower numbers, slashing some 5,000 …
McMansions are rapidly becoming the housing equivalent of harvest gold appliances as more Americans are opting for smaller residential footprints, according to a new Relocation.com consumer lifestyle survey. Small homes in the suburbs? Sound like a market the manufactured home industry could tap into! In the survey, homeowners and buyers …
With plans to change the Mortgage Interest Deduction (MID) being presented to Congress in hopes of reducing the federal budget deficit, homebuilders, industry and realtor groups are urging the maintenance of the benefit in its full potency. National Association of Homebuilders (NAHB) Chairman Bob Jones recently said reducing the benefit …
MHI, Realtors, Home Builders Urge Action to Save Mortgage Interest Deduction Read More
Markets continued to rally Thursday with the Dow moving up more than 100 points on new U.S. home sales, and retail sales topped estimates. The Manufactured Housing Composite Value gained half of one percent. Top performers among manufactured housing and related stocks include Drew Industries, up more than four percent; …
Drew Industries, a leading supplier of components for recreational vehicles (RV) and manufactured homes, announced Thursday that its Board of Directors approved a special cash dividend of $1.50 per share of common stock. The dividend is payable on December 28, 2010 to stockholders of record at the close of business …
From Oregon, the Gazette Times ran a story indicating struggling Palm Harbor Homes won’t close despite bankruptcy filing. The report indicated a 120-employee plant in Millersburg, Oregon will continue operations as usual. It is one of five Palm Harbor facilities in Oregon. Officials said the filing comes after four years …
The Dow Jones Industrial Average rose just shy of 250 points on Wednesday as Goldman Sachs raised their forecast for U.S. economic growth. Manufactured housing and related stocks also closed mostly higher. Universal Forest Products was up nearly five percent, Drew Industries was up 3.6 percent and Cavco rose 2.6 …
A November 16 article in the Virginian-Pilot carried the headline Fast-moving fires pose special risk in mobile homes. At first sight, this headline would seem another instance where the media unfairly implies negative judgment on the quality and safety of factory-built housing. But the article then quotes fire officials who …
Experts Say Manufactured Homes Not More Prone to Fire Read More
Remember the debt crisis in Greece that brought down stocks for a while a few months ago? Now it’s a concern a European debt crisis is getting out of control that’s closing the damper on the market. The Dow closed down 46 points Tuesday and global stocks fell to the …
Down Down, Palm Harbor Slides with it, Cavco Gains Read More
