In a conversation SeekingAlpha writer Brad Thomas has with Sam Landy, CEO and President of UMH Properties, Landy describes the beginnings of UMH in 1969 and how the REIT (real estate investment trust) grew profitably through the years until the recent recession. Landy says the company thought manufactured housing was …
TheTimesNews tells MHProNews.com from Burlington, NC Jeff Mitchell has come to the Burlington City Council twice to have property rezoned from residential to manufactured housing, and has succeeded both times. In 2010 the council voted 3-2 to honor the request. On the current issue, city staff recommended the change should …
Following HUD’s suspension of the Manufactured Housing Consensus Committee (MHCC) Administering Organization (AO) services by the National Fire Protection Association (NFPA) because of HUD’s failure to pay the NFPA, the Manufactured Housing Association for Regulatory Reform (MHARR) sent a letter to Carol Galante, HUD Assistant Secretary-Federal Housing Commissioner. In reminding …
The Manufactured Housing Association for Regulatory Reform (MHARR) says the House Financial Services Committee (FSC) is holding a hearing today to examine the Dodd-Frank Act’s definition of non-bank financial institutions as “systemically important”, a euphemism for “Too Big to Fail”, meaning the government will protect it from collapse. The Financial …
heNation says Retirees and members of the Manufactured Home Owners Association of America (MHOAA) came from around the nation to tell Sam Zell at the Equity Lifestyle Properties’ (ELS) annual shareholders meeting that raising rents and cutting services at his MHCs is threatening his own clients ability to remain as …
As follow-up to a story we posted March 16, 2012, a developer, Dan Coen, had proposed two modular housing developments comprised of 31 four and eight-person living quarters to house oil and gas workers in the energy boom now hitting the Carrollton County, Ohio area. Land that leased for $5 …
RegisteredRep says, according to recent data from the Joint Center for Housing Studies at Harvard University, 80 percent of Americans over 65 are homeowners, and the Census Bureau notes 65 percent are mortgage free. At the same time, The Urban Institute has determined that 40 percent of those born 1956 …
According to LegalNewsLine, a Ventnor, New Jersey couple charged with a fraudulent modular investment opportunity agreed to pay $35,000 in restitution and civil penalties by Aug. 31 as a settlement. As announced by NJ Attorney General Jeffrey Chiesa, if the defendants, Dennis and Maria Bracall, miss the deadline they and …
The SeattleMedium tells MHProNews.com the Puget Sound Skills Center (PSSC) in the Seattle, Washington area offers a Construction Technology course where students build a modular home that is then sold by the school system. Teacher Ken Pierson says the course is great for students who like to use their hands …
UPI says Berkshire Hathaway Chairman Warren Buffett told stockholders gathered at the company’s annual meeting in Omaha his successor will have a sharp eye for profitable long-term investments, good negotiating skills at making large-scale deals to benefit the stockholders, while sticking to a solid investment strategy. Although share prices of …
Ruth Clayton, 97, the mother of Clayton Homes founder Jim Clayton, died Wed., May 2 at the University of Tennessee Medical Center in Knoxville, according to KnoxNews. Grandson Kevin Clayton, CEO of Clayton Homes, said his grandmother’s strong work ethic was an inspiration to the whole family. She is survived …
A segment on National Public Radio (NPR) highlights the problem MHC residents may face if the MHC owner decides to sell his community, causing residents to lose a home that may no longer be mobile, and thus their financial investment. Where some people may see this as a huge boulder …
Sys-ConMedia reports 29,000 cooperative businesses nationwide will be represented when 150 leaders of the National Cooperative Business Association (NCBA) gather at the White House May 4 with top policy makers to discuss their roles in job creation and business development in their communities. Liz Bailey, CEO of NCBA says cooperatives …
MHProNews.com has learned from MyrtleBeachonline two South Carolina men were each sentenced to three years in federal prison for falsifying loan applications to banks to obtain mortgages on manufactured homes that were never delivered. Conway, SC MH dealer Glenn Vaught and mortgage broker Michael Fortenberry provided false documentation to obtain …
In the wake of the deadly tornadoes that ripped through Alabama last year, WSFA-TV in Montgomery, AL, like many in the media and in the National Weather Service (NWS), does not distinguish between pre-HUD Code homes and those built after 1976. However, Tommy Colley, who trains MH installers for the …
The American Association of Retired Persons (AARP) reports the Pew Research Center says over 20 percent of adults 25-34 live in a multigenerational setting, the highest level since the 1950s. The so-called Boomerang Generation are moving in with relatives due to economic necessity. The Washington Post says the recession cut …
Perhaps 20,000 to 30,000 jobs and the home values of some 4 million pre-HUD Code mobile and post-HUD Code manufactured homes hangs in the balance of the passage of HR 3849. Can it get done? Experts tell MHProNews that it will require a strong grass roots effort by industry professionals …
Following a story we posted April 25, Indiana’s Gov. Mitch Daniels met with RV industry leaders in Elkhart, Indiana to commend them on their industry turn around and discuss the future of the industry. He says 83 percent of all RVs are made in Indiana, an increase from the 60th …
A bill up for second consideration today (April 30) by the Pennsylvania House of Representatives, according to the Newtown-Pa.Patch, would require the Department of Community and Economic Development to establish regulations for relocating manufactured homes. SB 1141 (Sen. Charles Mcllhinney, R-Bucks/Montgomery) also defines “manufactured housing.” MHProNews has leaned the third …
MarketWatch reports the value of U.S. homes rose 0.5 percent Feb. to March 2012, marking the largest increase since 2006 when home values also rose 0.5 percent, according to the Zillow Home Value Index (ZHVI). However, the Zillow Home Value Forecast predicts home values will fall nationally 0.4 percent during …
