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.
From Minnesota, the Free Press reports that the city of St. Peter is planning to participate in a pilot program aimed at upgrading or demolishing mobile homes. The report indicates the plan would provide both rehabilitation incentives for homeowners with homes built to the HUD Code and buyout assistance for …
From Arizona the San Pedro Valley News-Sun reports there’s less red tape involved with installing manufactured homes in the community of Benson. The report says the city council there approved an Inter-Governmental Agreement between the city and the Arizona Department of Fire, Building and Life Safety, Office of Manufactured Housing …
From the Terrace Standard of British Columbia comes a story about the completion of modular housing units for disabled seniors. The 24 modular units were constructed by Langley-based Britco, and were brought up from its Penticton plant in June. Work on the siding, footings, plumbing, electrical, roofs, beams, landscaping and …
USA Today ran an article Wednesday on the ten best green homes if 2010, including an over-all winner. Number seven on the list was a home in St. Paul, Minnesota, one of a dozen models designed by Hive Modular, a Minneapolis-based prefab company, and built by a factory partner. The paper …
From Long Island, New York, the Riverhead News-Review ran a story this week titled “Who knew a modular home could look this good?” As the report relays, Roy Dower decided to fix his family’s waterfront property in Flanders for his aging mother, but wranglings with Southampton Town made him decide …
Wrangling Sends New Yorker from Remodel to Modular Read More
Once… Twice… the Dow posted gains for a second time in the New Year on Tuesday, closing up more than 20 points following a day of big gains on Monday. The Manufactured Housing Composite Value, however, declined a third of one percent. Gainers for the day included All American Group, …
Insurance Networking News reports that Moody’s has assigned an Aa2 rating to $1.5 billion of senior unsecured notes being issued by Berkshire Hathaway Finance Corp. Net proceeds are expected to be used to repay a like amount of BHFC notes maturing in January 2011. Moody’s says the rating outlook for …
UMH Properties, Inc., announced this week that it will be presenting at Sidoti & Company’s 2011 Semi-Annual Micro-Cap Conference on Monday, January 10, 2011. The Forum will be held at The Grand Hyatt in New York City. Eugene W. Landy, Chairman of the Board, and Michael P. Landy, Vice President …
UMH to Present at Sidoti & Company’s Micro-Cap Conference Read More
Iowa Manufactured Housing Association Executive Vice President Joe Kelly says the city of Des Moines is concerned about how older factory-built homes are sold on contract. The City Attorney, Bruce Bergman, expressed to Kelly that Des Moines is considering requiring all community owners, if they are selling a home in …
Des Moines Considering Regulatory Changes in MH Titling and Inspection Read More
The Associated Press reports New Orleans officials have told the last remaining residents of the temporary housing units known as “FEMA trailers” to be out by the start of 2011. Residents told the reporter that meeting this deadline will be difficult. At one point, some 23,000 homes were in the …
New Orleans Looks to Turn Page Past Katrina and “Trailers” Read More
The new appointees announced by HUD on January 3, 2011 to the Manufactured Housing Consensus Committee as reported by the Manufactured Housing Association for Regulatory Reform are: (1) William Freeborne, described by HUD only as a “retired engineer,” who will be joining the “General Interest and Public Officials” group, becoming …
The Manufactured Housing Association for Regulatory Reform (MHARR) sent out a message to manufacturers indicating its view that the already diminished role and authority of the Manufactured Housing Consensus Committee (MHCC) as an independent check and balance on the power of HUD regulators took another major step backward on January …
MHARR Says Committee Selection Process Sets MHCC Back Read More
Stocks roared into the New Year Monday as 98 points were added to the Dow. The index had been up more than 120 points earlier in the session. Manufactured housing and related stocks also performed well. UMH Properties and Drew Industries each added more than four percent, Sun Communities added …
MH Stocks Gain on First Day of Trading in New Year Read More
Bankrate.com reports the zero-down mortgage is still alive in the form of the USDA home loan. The property must be in a designated rural area; however, some eligible properties are in places that most people would not consider rural. USDA Spokesman Jay Fletcher explains to MHMSM.com the department has …
It might be called a moving tax. The Illinois Lincoln Courier reports a measure that took effect last week requires a factory-assembled home on private property and not part of a community to be assessed and taxed as real property. Previously, the homes had been taxed by counties at 15 …
New Illinois Law Hikes Tax on Some Manufactured Homes Read More
The Center for the Polyurethanes Industry (CPI) of the American Chemistry Council (ACC) recently announced the availability of a new online training program for spray polyurethane foam (SPF) applicators to further improve good safety practices. “This new training program is part of CPI’s ongoing efforts for continuous health and safety …
The Commerce Department says construction spending increased 0.4 percent in November, but building activity is only 2.3 percent higher than in August, when it had fallen to the lowest level in a decade. Total spending increased to $810.2 billion in November at a seasonally adjusted annual rate. The strength in …
Fannie Mae announced it has reached an agreement with Bank of America and its affiliates – BAC Home Loans Servicing, LP, and Countrywide Home Loans, Inc. – to address outstanding repurchase requests for residential mortgage loans with an unpaid principal balance of approximately $3.9 billion delivered to Fannie Mae by …
Fannie Mae Reaches Agreement with BOA to Address Repurchase Requests Read More
Sun Communities, Inc., a real estate investment trust (“REIT”) that owns and operates manufactured housing and recreational vehicle communities, announced recently its Board of Directors declared a quarterly dividend of $0.63 per share for the fourth quarter of 2010. The dividend is payable January 21, 2011 to shareholders of record …
Sun Communities Declares Fourth Quarter 2010 Dividend Read More
The Dow ended up seven points December 31 and some 11 percent for the year. The Manufactured Housing Composite Value ended the last day of the year on a sour note, however, down one and a quarter percent. The Index was down more than 17 percent for the year. Several …
Dow Adds 11 Percent in 2010, MH Values Drop Overall Read More
