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.
HousingWire.com notes that on the heels of a bill passed by the House Financial Services Committee to end two programs aimed at foreclosure prevention, President Obama said he would veto both measures. As reported here last week, the Republican-dominated Congress wants to end the Short Refi program, which assists underwater […]
President Obama Threatens to Veto Bills to Kill Foreclosure Programs Read More
The National Association of Home Builders (NAHB) told the Senate Banking Committee that Congress needs to take action to restore the availability of credit to home buyers and builders. NAHB Chief Economist David Crowe said, “Without access to credit, the residential construction industry will lose more small businesses and experience
NAHB Wants Credit Loosened to Spur Home Building Read More
According to HousingWire.com, a new study by researchers at the Federal Bank of Cleveland says speculators who buy distressed housing in blighted urban centers may be doing more harm than good. Thomas Fitzpatrick and O. Emre Ergungor report if buyers do not buy through the banking system, liens, back taxes
Flipping Foreclosed Homes May Add to Blight Read More
BostonSF reports residents of a Boston neighborhood are witnessing the first ever three-story modular home being put together in their area. Westchester Modular Homes of Greater Boston (WMHGB) supervised the assembly of the six-module unit. The 3,360-square-foot home sits on a lot only 20 square feet larger, and will feature
Three-story Modular Home Rises in Tight Urban Setting Read More
Maryland’s law that requires sprinkler systems in manufactured and modular homes took effect Jan. 1. The Dagger News Service reports several families applied for permits for modular homes prior to that date in Harford County, but the state’s interpretation of the law is for the permit to take effect at
Sprinkler Law Creates Impasse in Maryland Read More
Following a February letter sent to RV and manufactured housing industries asking for support to keep the RV/MH Hall Museum and Hall of Fame open in Elkhart, Indiana, a March 15 “summit” has been organized to discuss the financial plight of the museum. An $887,000 note due March 15 has
RV/MH Hall of Fame Needs Funds to Keep Rolling Read More
As reported in the Knoxville News-Sentinel, Clayton Homes, in conjunction with five MBA students from the University Of Tennessee College Of Business Administration in Knoxville, conducted research to gain customer input in making their product. For 13 weeks, the students studied the industry and Clayton’s competitors, interviewed company officials and
Clayton Homes Researches Customer Needs Read More
In its report of sales and earnings for fiscal year ending November 6, 2010, Nobility Homes reports sales increased over the last fiscal year 25 percent to $14,861,682. Sales for the previous year were 11,869,333. Net loss for 2010 after taxes was $795,130 versus loss of $1,051,843 for the same
Nobility Homes Releases Financials for FY 2010 Read More
The Dow gained 124.35 points to end the day at 12,214.38. Cavco gained 3.54 percent and Skyline Corp. was up 3.29 percent. Nobility Homes and Deer Valley remained unchanged. The Manufactured Housing Composite moved up 3.09 percent to finish the day at 1152.40.
Dow and Most Housing Stocks Move Up Read More
First unveiled at the International Builders Show in Orlando, Florida, Waldemar Alameda’s new home has custom features to better serve the wounded Iraqi war veteran. Injured by an Improvised Explosive Device (IED), he suffered brain and spinal damage, and has post traumatic stress disorder, chronic pain and limited mobility. As
Modular House Provided for Wounded Iraqi Veteran Read More
HousingWire.com reports the top cop for the new Consumer Financial Protection Bureau (CFPB) told a gathering of state attorneys general that mortgage servicers do not do enough for their customers who are in danger of foreclosure and that they need to be more socially responsible. Created under the Dodd-Frank Act,
CFPB’s Top Cop Ready for Action July 1 Read More
From Sedalia, North Carolina, The News-Record.com reports that after two public hearings, the town council voted four to one to permit multi-sectional homes in three designated areas of town. Reporter Tiffany Jones says the three areas equal a total 37 acres of one-time farmland, and the new zoning ordinance allows
Town Sets Aside Area for Multi-Sectionals Read More
According to a recent survey of builders and consumers by the National Association of Home Builders (NAHB), by 2015 half of all builders think the living room will be merged with other rooms in the home. Nearly a third say it will vanish entirely. The entryway and dining room will
Living Room May Vanish by 2015 Read More
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
Stocks Begin the Week Down Read More
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
Home Prices Drop in January, May Decline More Read More
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
Community Owners Must Provide Emergency Shelter Read More
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.
No Banks Failed Last Week Read More
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
