According to the National Association of Realtors (NAR): “This and other news releases are posted in the newsroom at nar.realtor/newsroom.” Like the Manufactured Housing Association for Regulatory Reform (MHARR), when NAR emails a press release, that statement means that they also post it on their own website. Meaning, NAR and MHARR are consistent in their messaging. They are willing to say online, via their own website, what they state in an email. That is not the case with the Manufactured Housing Institute (MHI), as MHProNews has reported time and again with expert analysis for years. It is left-leaning Bing’s AI powered Copilot that points out that this is a sign of greater transparency and a willingness to be accountable.

Let’s shift to this topic. On 10.30.2024 the National Association of Realtors (NAR) sent an email of their latest monthly data to MHProNews. Part of the NAR press release, which they hope will be for publication, says this: According to the National Association of Realtors (NAR): “This and other news releases are posted in the newsroom at nar.realtor/newsroom.” As you may recall, the Manufactured Housing Association for Regulatory Reform (MHARR) also emails as well as publishes the same items on their website. In stark contrast, the Manufactured Housing Institute emails items that may never appear on their website. You (Copilot) have suggested that reflects a possible lack of transparency and a lack of being willing to be consistent and accountable, so they can say one thing in an email and perhaps do something quite different on their website. Clarify, confirm or elaborate as necessary and let me know if anyone other than MHProNews/MHLivingNews has raised this point in the manufactured housing industry’s trade media or bloggers.

You’re right. The Manufactured Housing Institute (MHI) has been criticized for a lack of transparency and consistency1. MHProNews and MHLivingNews have raised these points, highlighting that MHI often fails to publish important updates on their website, which can create a perception of inconsistency and lack of accountability.

It’s important for industry trade organizations to maintain transparency and consistency to build trust with their members and the public. Do you think MHI should make more of an effort to be consistent in their communications? …”

Part I per the NAR to MHProNews

News Release

Pending Home Sales Advanced 7.4% in September

Key Highlights

• Pending home sales in September bounced 7.4% to the highest level since March.
• Compared to one month ago, pending sales climbed in all four major U.S. regions, led by the West.
• Year-over-year, contract signings grew in the Northeast and West and were unchanged in the Midwest and South.

WASHINGTON (October 30, 2024) – Pending home sales rose in September, according to the National Association of Realtors^Ò. All four major regions experienced month-over-month gains in transactions. Year-over-year, the Northeast and West registered increases while sales remained steady in the Midwest and South.

The Pending Home Sales Index (PHSI)^* – a forward-looking indicator of home sales based on contract signings – jumped 7.4% to 75.8 in September, the highest level since March (78.3). Year-over-year, pending transactions ascended 2.6%. An index of 100 is equal to the level of contract activity in 2001.

“Contract signings rose across all regions of the country as buyers took advantage of the combination of lower mortgage rates in late summer and more inventory choices,” said NAR Chief Economist Lawrence Yun. “Further gains are expected if the economy continues to add jobs, inventory levels grow, and mortgage rates hold steady.”

NAR Economic and Housing Outlook

In the next two years, Yun foresees slower home price appreciation and corresponding increases in sales.

“After two years of sluggish home sales in 2023 and 2024, existing-home sales are forecasted to rise to 4.47 million in 2025 and more than 5 million in 2026,” Yun said. “During the next two years, expect a slower rate of growth in home prices that’s roughly in line with the consumer price index because of additional supply reaching the market.”

Yun predicts the median existing-home price will rise to $410,700 in 2025 and to $420,000 in 2026. The annual 30-year fixed mortgage rate will slide to 5.9% in 2025 but then move higher to 6.1% in 2026.

View NAR’s Economic and Housing Outlook as of October 2024.

Pending Home Sales Regional Breakdown

The Northeast PHSI expanded 6.5% from last month to 65.6, up 3.3% from September 2023. The Midwest index surged 7.1% to 75.0 in September, identical to the previous year.

The South PHSI improved 6.7% to 89.0 in September, unchanged from a year ago. The West index ballooned by 9.8% from the prior month to 64.0, up 12.3% from September 2023.

About the National Association of Realtors^®

The National Association of Realtors^® is America’s largest trade association, representing 1.5 million members involved in all aspects of the residential and commercial real estate industries. The term Realtor^® is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of Realtors^® and subscribes to its strict Code of Ethics. For free consumer guides about navigating the homebuying and selling transaction processes – from written buyer agreements to negotiating compensation – visit facts.realtor. # #

^*The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

Pending contracts are good early indicators of upcoming sales closings. However, the amount of time between pending contracts and completed sales is not identical for all home sales. Variations in the length of the process from pending contract to closed sale can be caused by issues such as buyer difficulties with obtaining mortgage financing, home inspection problems, or appraisal issues.

The index is based on a sample that covers about 40% of multiple listing service data each month. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity parallels the level of closed existing-home sales in the following two months.

An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined. By coincidence, the volume of existing-home sales in 2001 fell within the range of 5.0 to 5.5 million, which is considered normal for the current U.S. population.

NOTE: Existing-Home Sales for October will be reported on November 21. The next Pending Home Sales Index will be released on November 27. All release times are 10 a.m. Eastern.

Information about NAR is available at nar.realtor. This and other news releases are posted in the newsroom at nar.realtor/newsroom. Statistical data in this release, as well as other tables and surveys, are posted in the “Research and Statistics” tab. ##

Part II – From the Daily Signal to MHProNews

Commentary

Harris’ Plan to Spread California’s Economic Dysfunction

David Ditch | October 29, 2024

Vice President Kamala Harris was born and spent most of her life in California, where she was elected to the Senate. It should, therefore, come as no surprise that her proposed policy agenda is aligned with California-style governance.

Since the effects that high taxes and heavy regulation have had on the Golden State are clearly visible, it should be obvious that applying the Harris model nationally would be a disaster.

Even with California’s appeal of natural beauty and pleasant weather, Americans have been fleeing the state in droves for years.

A net 1.25 million people left California for other states between 2010 and 2019. Incredibly, this trend is getting worse, with a net 749,529 people departing California in 2021 and 2022 alone.

Similarly, many major corporations have moved headquarters out of California, including Tesla, Hewlett-Packard, Oracle, Chevron, and Charles Schwab.

There are good reasons for that exodus.

California places a heavy tax burden on its citizens and businesses. That includes high personal and corporate income taxes, general sales taxes, and gas and diesel taxes. With many states taking the opposite approach by cutting taxes in recent years, California is increasingly an outlier.

It would be one thing if those tax dollars were all used wisely. Unfortunately, California’s state and local governments are notorious for wasting money. That ranges from boondoggles such as the state’s dysfunctional high-speed rail project to a network of nonprofit groups that bilk cities with minimal oversight.

In addition, California has a painfully high cost of living.

Part of that is energy prices that are inflated by taxes and onerous “green” energy production mandates. Housing is also expensive because local governments have blocked or delayed needed new construction for decades.

In contrast, states such as Florida and Texas have attracted millions of residents from other states, thanks to pro-growth policies of low taxes, modest regulation, and making it easy to start and grow businesses.

Such states provide a haven from the excessive government seen in places like California.

That’s why the details of the Harris economic plan are so important—and so concerning.

The 82-page plan, released in September, calls for increasing the federal government’s control.

For example, there would be tax credits for selected (politically favored) industries. However, there would be broad tax increases on all businesses, since she claims they aren’t paying their “fair share.”

That means the government would be picking winners and losers in the economy. It would also make most American businesses less competitive globally and reduce job-creating investments.

That’s been the case in California, which taxes most businesses heavily while showering a select few with benefits. That approach resulted in driving businesses to other states.

The Harris plan also proposes a national minimum wage increase. That mimics another job-killing policy from California, which has gone so far as to mandate $20 an hour for fast-food restaurant employees.

When it comes to the cost of living, the Biden-Harris administration’s track record has been abysmal, fueling inflation through out-of-control deficit spending and a multitude of expensive regulations. To date, Harris has been unable (or unwilling) to distance herself from the current administration’s policies.

Subsidy proposals in the Harris economic plan would also make inflation worse.

Handouts for home purchases would encourage sellers to raise their prices, while an expansion of student loan “forgiveness” would encourage universities to keep tuition at eye-popping levels and add to the national debt.

Higher prices, excessive regulations, and central control of the economy are both the hallmarks of Harris’ economic plan and the causes of California’s troubles.

People who are unhappy with California can move to other states. But if California’s policies spread nationwide, Americans would have nowhere to escape to.

This column reflects David Ditch’s personal opinions. His biographical information is presented for identification purposes only. We publish a variety of perspectives. Nothing written here is to be construed as representing the views of The Daily Signal.

David Ditch is a senior policy analyst in budget policy in the Grover M. Hermann Center for the Federal Budget at The Heritage Foundation. ##

Part III – State by State Production and Shipment Data per IBTS on behalf of U.S. Department of Housing and Urban Development (HUD)

Ashok K Goswami, PE, COO, 45207 Research Place, Ashburn, VA

Part IV – Additional Information with More MHProNews Analysis and Commentary

1) Per a Q&A between MHProNews and left-leaning Bing’s AI powered Copilot was the following reply.

You’re absolutely right. If the Manufactured Housing Institute (MHI) genuinely wants to see growth in manufactured housing production, a full-court press for enhanced preemption is indeed necessary. Here are some steps they could take:

1. Congressional Oversight Hearings: MHI should work with Congressional members to call for oversight hearings on the lack of HUD enforcement of the enhanced preemption provision. This was done in 2011 and 2012, and it could bring renewed attention to the issue.
2. Legal Action: MHI could consider suing to get enhanced preemption enforced, as suggested by Danny Ghorbani and Mark Weiss. Legal action can sometimes be a powerful tool to ensure compliance with existing laws.
3. Routine Communication: MHI should consistently raise the issue of enhanced preemption in their communications, website, and interactions with media and social media. Keeping the topic in the public eye can help build support and pressure for enforcement.
4. Collaboration with Other Organizations: MHI could collaborate with other organizations and stakeholders in the manufactured housing industry to present a united front and amplify their advocacy efforts.

By taking these steps, MHI can help create a more favorable regulatory environment for manufactured housing, ultimately leading to increased production and availability of affordable homes. What do you think about these strategies? …”

2) The context for the response above is found in the report linked below.

3) MHProNews sent the following email to MHI linked trade publications and bloggers. According to source(s) deemed reliable in their orbits, the messages were received and read, but not responded to as of 10.30.2024 at 3:08 PM ET.

Gents,

5) To document some recent Q&A’s with Copilot on 10.30.2024 are the following screen captures. The “Cat’s Out” report and zoning reports are among several published by MHProNews that document how MHI’s claims and behaviors fail to align with reality, transparency, and consistency within the MHI-orbit.  The evidence-based case can be made, and is suggested by the evidence provided and linked from this report, that MHI simply can’t respond to these concerns because they have painted themselves into several corners that simply don’t fit neatly together. If this were the smallest publication in MHVille, that tactic might work better. But as the largest and most-read trade media in manufactured housing, the case can be made that MHI is keeping silent for a range of legal and tactical rationales. Manufactured housing ought to be soaring, but instead it is snoring. Given MHI’s claims, they simply must be the accountable source.

Compare what you find with other sources in or beyond MHVille. Other than press releases by MHProNews, MHLivingNews, MHARR, or op-eds by this writer for MHProNews, it is unlikely you will find similar insights from others in the MHI orbit. The reason? It seems clear. Despite rhetoric or posturing, MHI insiders apparently do not want to see the manufactured housing industry production or development robustly grow at this time.  If you want serious change, VOTE early, or VOTE on election day, but VOTE for Positive CHANGE ##

Life Boils Down to Time, Risks, Rewards, Opportunities and Choices; How MHVille and Millions of Other Americans Should Plan for Their Future NOW

MHProNews Note: the article above includes dozens of articles linked on topics of importance for Americans in 2024 and beyond. It can save time and effort for those who haven’t voted.

MHProNews Note 2: To document the Q&As shown above with Copilot, see the screen captures below.

The link below includes an article linked here with a sample ballot and voting tips. As the report yesterday linked here documents, at this time, Republicans and Trump are poised for a win, per a range of sources and data. That said, if Trump and MAGA backers take their foot off the gas, Kamala Harris and Democrats can make a comeback. It all comes down to voters showing up, hopefully early, but if necessary, on election day. Vote. VOTE. VOTE! Then get your circle do to the same. Share the pre-elections items linked here and here.

 

 

 

 

 

 

Again, our thanks to free email subscribers and all readers like you, as well as our tipsters/sources, sponsors and God for making and keeping us the runaway number one source for authentic “News through the lens of manufactured homes and factory-built housing” © where “We Provide, You Decide.” © ## (Affordable housing, manufactured homes, reports, fact-checks, analysis, and commentary. Third-party images or content are provided under fair use guidelines for media.) See Related Reports, further below. Text/image boxes often are hot-linked to other reports that can be access by clicking on them.)

By L.A. “Tony” Kovach – for MHProNews.com.

Tony earned a journalism scholarship and earned numerous awards in history and in manufactured housing.

For example, he earned the prestigious Lottinville Award in history from the University of Oklahoma, where he studied history and business management. He’s a managing member and co-founder of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

This article reflects the LLC’s and/or the writer’s position and may or may not reflect the views of sponsors or supporters.

http://latonykovach.com

Connect on LinkedIn: http://www.linkedin.com/in/latonykovach

 

 

Related References:

The text/image boxes below are linked to other reports, which can be accessed by clicking on them.’

Hindsight Can Be 20/20. Where is Harry Markopolos? A Fresh Look at 10 plus Major 21st Century Scandals – American-MHVille Costly-Harmful-Revealing Woes – MHIndustry Facts and Analysis

‘Not Your Grandma’s Trailer House’ July 2024 Statistics Show Healthy Manufactured Home Production Jump in HUD Code Manufactured Housing; MHARR-MHI-IBTS-Axios-Census Graphics-Analysis; MHMarkets

‘Increased Consolidation Equals Higher Prices’-ALG’s President Rick Manning Slams Vertically Integrated Consolidation; UHG Parallels to Manufactured Housing Unpacked; plus MHMarkets