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.
Weak retail trade in January drove the Dow down 0.34 percent to close at 12,226.64. After dropping nearly 16 percent yesterday, Palm Harbor Homes rebounded to close up 37.50 percent. Cavco lost 0.38 percent and Nobility Homes was down 0.24 percent. The Manufactured Housing Composite Value lost 1.91 percent.
Dow Flat, MH Composite Closes Lower Read More
According to Bloomberg News, the U.S. Small Business Administration faces a 45 percent cut in funding under the President’s budget request. Bloomberg reports that while the budget would back $27 billion in loan guarantees for small business, administrative spending and funds for Small Business Development Centers would be cut.
SBA Facing Dramatic Funding Cuts Read More
Housingwire reports that thanks to the falling dollar, the recently formed State of Texas Real Estate Fund LP announced plans Tuesday to raise $150 million from international investors for the purpose of acquiring distressed office and industrial properties, as well as land. The fund is hunting for high-quality distressed properties
Falling Dollar Helps Drive International Investments in Lone Star State Read More
The Manufactured Housing Association for Regulatory Reform (MHARR) sent out notice that the HUD proposed rule to amend Subpart I (Consumer Complaint Handling and Remedial Actions) of the Procedural and Enforcement Regulations was published in the Federal Register on February 15. MHARR says it is important to carefully review this
HUD Publishes Proposed Subpart I Rule Read More
According to the Manufactured Housing Institute (MHI) Week in Review, MHI-PAC will host a fundraising luncheon for Senator Olympia Snowe (R-ME) on Feb. 16. Representative Snowe is a key Member of the Finance, Commerce, Small Business and Entrepreneurship Committees and a friend of the industry. Senator Snowe has been a
MHI-PAC to Host Senator Olympia Snowe of Maine Today Read More
Drew Industries, a leading supplier of components for recreational vehicles (RVs) and manufactured homes, recently reported net income for the fourth quarter ended December 31, 2010 of $3.1 million, or $0.14 per diluted share, compared to net income of $2.9 million, or $0.13 per diluted share in the fourth quarter
Drew: 16 Percent Decline in Manufactured Homes Read More
The stock market closed mixed, but the Dow was down slightly to close at 12,268.19. Palm Harbor dropped 15.79 percent and Cavco lost 1.54 points, but Deer Valley was unchanged. The Manufactured Housing Composite Value lost 1.54 percent.
Stocks End Day Mixed Read More
According to CNN Money, the tab to bail out Fannie and Freddie will continue to grow, says the Federal Housing Finance Agency (FHFA), which oversees the duo. It says the estimated costs through 2013 could increase by as much as $210 billion, that on top of the blank check that
Costs of Fannie and Freddie to Climb Read More
It may not have the same emotions attached as Obamacare, but the reform of Fannie Mae and Freddie Mac may get complicated because the administration’s plan is not specific in some areas, leaving the door open to many options, says an article on GlobeSt.com. Mark Oesterle, former counsel to the
Battle Over GSEs May Be Looming In Congress Read More
If you are looking to build a new home, do it now, according to the National Association of Home Builders (NAHB). Construction costs have fallen during the housing crunch, but are steadily creeping back upward. According to an article in the Los Angeles Times, nine years ago construction costs made
Construction Costs, Interest Rates Likely to Rise Read More
The Williston Herald in North Dakota reports that a local company is installing modular homes to house its employees and possibly their families. The two-story building will have four apartments per floor, and people may start to occupy the apartments in 30 days. This is the first project in Williston
Modular Homes for Housing Employees Read More
Riverine Development, Inc. first proposed this manufactured homes project near Ann Arbor, Michigan in 2004, according to AnnArbor.com. After numerous battles involving Superior Township officials and residents, judges, the developer, state environmental quality control and the state attorney general, the outcome is still in doubt. The focus has been on
Strong Opposition to Build 1,950-Unit Community in Michigan Read More
The Dow gained 43.97 points to close at 12,273.26. The NASDAQ gained 18.99 points to end the week at 2,809.44, and the S&P was up 7.28 to close at 1329.15. The Manufactured Housing Composite Value was up 2.92 percent to close at 1161.20. In individual stocks, Skyline Corporation ended at
Stocks Gained at Close of Market Friday, Feb.11 Read More
In a discussion at the school’s College of Design, a reporter for the Des Moines Register brought up the dilemma of some low income families buying sub-standard, older homes because they cannot afford to live elsewhere, having no recourse if the community owner does not respond to problems, and being
Manufactured Housing Debated at Iowa State University Read More
The deadline for entering the 2011 Manufactured Housing Institute’s Community and Retail Sales Center and Manufactured and Modular New Home Design competition is Feb 18. Materials for judging must be received by March 4. The awards will be presented at a luncheon at the National Congress & Expo for Manufactured
MHI Awards Entry Deadline Fast Approaching Read More
The Toronto Star’s Boulevard of Dreams exhibit, scheduled to open Feb. 18 at the National Home Show, features a metal framed glass modular home, one of two modular homes at the show. Designed by Concept PolygHome of Quebec, the home is comprised of trapezoidal units assembled to form the structure.
Modular Homes at Canada’s National Home Show Read More
On Feb. 11 the Obama Administration offered a plan to reform the mortgage finance industry. It would involve shrinking Fannie Mae and Freddie Mac at 10 percent per year, requiring a down payment of at least 10 percent for Fannie and Freddie loans, and making other changes to help increase
White House Plans for Housing Mortgage Reform Read More
Disappointing earnings news had stocks ten points lower Thursday, while the Manufactured Housing Composite Value rose 1.4 percent. Cavco closed higher by more than one percent and Skyline Corporation enjoyed a 3.6 percent gain. On the downside, Nobility Homes and Universal Forest Products were down more than three percent.
Dow Closes Lower, MH Composite Gains Read More
CNET News reports that modular classrooms for public schools may move beyond the temporary to a more permanent status. The Bolsa Knolls Middle School in Salinas, CA is made of almost entirely recyclable materials, and exceeds the California Title Energy Code by 30 percent. Built by American Modular Systems, the
Modular School Buildings in California from Recyclables Read More
The Utah legislature is set to hear discussion on a proposed bill that would set up an arbitration mechanism between homeowners and community owners. This bill would charge community owners an annual $10 fee to fund a potential mediation process. Homeowners claim they are at the mercy of the community
Homeowners Try to Level Playing Field Read More
