MHMSM.com presents Factory Built Housing Industry News at Noon with Erin Patla.
We begin with these stories:
SEVERAL STATE ASSOCIATIONS have launched an exploratory effort to look into whether the industry could benefit from additional lobbying help in Washington. A high-profile lobbyist could both help provide a unified voice and aid in making sure legislation doesn’t lose its intent in the regulatory process. Arkansas state association executive J.D. Harper says many of the industry’s problems are on the regulatory side.
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To Harper and others, the additional lobbying help may provide the access needed to improve that process. Harper says he has been asked to serve as the secretary of the loosely-formed coalition. A request for proposals has been sent, responses have been returned and they are being reviewed. Read three views on the Industry InFocus report by Eric Miller at mhmsm.com.
THE PRICE OF SOLAR POWER could soon come down to earth. A new federal government report concludes that by 2015, the cost of solar power will be the same as the cost of power from the electrical grid and may go down from there. The report predicts that the cost of generating power from rooftop solar panels will drop from the 2009 cost of $0.21 per kWh to $0.10 per kWh in 2015—equivalent to typical household electricity rates. The study focused on the impact of technological innovations funded by the federal American Recovery and Reinvestment Act.
THE DELINQUENCY RATE for mortgage loans on one-to-four-unit residential properties dropped to a seasonally adjusted rate of 9.85 percent of all loans outstanding as of the end of the second quarter of 2010, a decrease of 21 basis points from the first quarter of 2010, and an increase of 61 basis points from one year ago, according to the Mortgage Bankers Association (MBA)’s National Delinquency Survey. The percentage of loans on which foreclosure actions were started during the second quarter was 1.11 percent, down 12 basis points from last quarter and down 25 basis points from one year ago. Jay Brinkmann, MBA’s chief economist says the disappointing news is that, after declining since the beginning of 2009, the rate of short-term delinquencies is going up and the increase in these short-term delinquencies may ultimately drive the foreclosure measures back up. Eleven states saw increases in the rate of foreclosure starts on a year over year basis, with the largest increases coming in Illinois, South Dakota and New Mexico. The largest decreases were in California, Florida and Nevada.
“Up next, Modular Homes in the News…”
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Now, back to…
Modular Homes in the News
UNABLE TO SELL THEIR OLD HOME, a Colorado family decided to have it replaced with a new modular one. The Delta County Independent reports that the more than100-year-old home of Rex and Karen Emmons was recently torn town to make room for a new modular home in September. According to the article, the family could not purchase a new home outside the town and so decided to replace the old one.
MODULAR HOME MANUFACTURER Excel Homes is adding fire sprinklers to its options list. It’s the result of an alliance between Excel Homes and F.E. Moran, a Chicago-based fire-protection firm. According to an article in Builder, the systems are jointly designed and mostly installed at Excel’s factory, with Moran providing the finishing touches to the system and ensuring it’s installed and working properly at the jobsite. The first system will be included in a home to be featured on “Extreme Makeover: Home Edition.”
And for Manufactured Housing in the News…
THE NEW BRUNSWICK BEACON in North Carolina reported recently that manufactured home sellers are seeing an up-tick in business. More, some of the homes feature solid oak cabinets, walk-in closets and simulated or solid-surface countertops—luxuries you might not expect in a manufactured home. Buyers are responding and retailers are reporting more business during the first half of 2010 than in all of 2009.
In Market News…
ANALYSTS SAY the economy continues to slow and that kept Wall Street in the red Thursday, closing once again below the 10,000 mark. A positive on jobless claims was overshadowed by expectation of lower GDP numbers to be released Friday. Economists expect the government to revise second-quarter GDP to 1.5 percent. Todd Schoenberger [SHANEburger], managing director at LandColt Trading, told CNBC that anything below 2.0 percent tomorrow will have stocks opening significantly lower. Most manufactured housing-related stocks closed lower including Palm Harbor Homes, down nearly four percent; Drew Industries, down more than two percent and Sun Communities, down a little more than one and a half percent. Cavco, UMH Properties and Skyline Corp finished the trading day with small gains, however, and the manufactured housing composite value was up by .86 percent.
“On behalf of Production and IT Manager Bob Stovall, Editor L.A. ‘Tony’ Kovach, Associate Editor Catherine Frenzel, INdustry in Focus reporter Eric Miller, and the entire MHMSM.com writing and support team, this is Erin Patla. G’day!”