The left-leaning Private Equity Stakeholder Project (PESP) shed light on the influence of private equity on several manufactured home community (MHC) operators. However, less attention has been given to how private equity giants like BlackRock, Vanguard, State Street, and others have had on companies such as Cavco Industries (CVCO), Skyline Champion (SKY), and Berkshire Hathaway (BRK – parent of Clayton Homes, 21st Mortgage Corporation, Vanderbilt Mortgage and Finance and other manufactured home industry connected firms). MHProNews has from time to time raised this topic previously, but this report and analysis will be different in this respect. This will be snapshot of the kinds of stakes that private equity has in specific manufactured housing industry connected firms. Each of the firms listed in this report are members (or in the case of Berkshire, have subsidiaries which are members) of the Manufactured Housing Institute (MHI) and/or MHI linked manufactured home industry state associations.

Part I of this report will be a Q&A with left-leaning Bing’s Artificial Intelligence (AI) powered Copilot. It will provide several financial details of private equity by the big three of BlackRock, Vanguard, and State Street – plus several others – into sharper focus.

Part II will provide additional information with more MHProNews analysis, commentary and related reports. Note that the headline “more” includes a brief look at two “lagniappe” items, a French term that is used to convey the notion of ‘something extra.’ One is unrelated to housing, the other is directly related to the vexing problem of affordable housing.

Part III will be our Daily Business News on MHProNews left-right headline news recap and manufactured home connected equities updates.

With that plan of action, let’s get started.

Part I

On 4.9.2024, MHProNews provided the following questions to Copilot using per our norm its “balanced” or blue setting. Note that these holdings by the various firms named below are obviously subject to change. While the amount of the stake in a firm’s stock is obviously relevant, the precise amount should be considered as a snapshot or indicator of how much private equity can influence manufactured housing. More on that in Part II, along with the two lagniappe items.

1)

Who are the larger holders of stocks issued by Cavco Industries (CVCO)?

Certainly! As of the latest available data, the larger holders of Cavco Industries, Inc. (CVCO) stock include:

1. BlackRock Advisors LLC: BlackRock holds approximately 14.82% of the outstanding shares of Cavco Industries ¹.
2. Vanguard Fiduciary Trust Co.: Vanguard is another significant shareholder, with a stake of approximately 11.04% ¹.

These investment giants play a crucial role in shaping the ownership landscape of Cavco Industries. Keep in mind that their holdings are often managed through various investment vehicles, including index funds and mutual funds. For more detailed information, you can explore the company’s official investor relations resources ². 📈🏠

Learn more

1 marketscreener.com 2 investor.cavco.com 3 wallstreetzen.com 4 stockzoa.com…”

2)

What are other firms that have a significant stake in Cavco Industries (CVCO)?

Certainly! Let’s explore the ownership stakes of Cavco Industries, Inc. (CVCO):

1. BlackRock Advisors LLC:
   • BlackRock holds approximately 14.82% of the outstanding shares of Cavco Industries ¹.
   • Their significant stake reflects their confidence in the company’s prospects.
2. Vanguard Fiduciary Trust Co.:
   • Vanguard is another substantial shareholder, with a stake of approximately 11.04% ¹.
   • Vanguard’s investment strategies often involve broad market exposure through index funds.
3. Other Shareholders:
   • The top 25 shareholders collectively own approximately 86.42% of the company ².
   • While specific details about other firms’ stakes are not explicitly mentioned, it’s important to note that Cavco Industries’ factory-built homes are distributed through a network of independent and company-owned retailers, planned community operators, and residential developers ¹.

These institutional investors play a crucial role in shaping the ownership landscape of Cavco Industries, reflecting their belief in the company’s growth potential ¹². 📈🏠

Learn more

1 marketscreener.com 2 simplywall.st 3 wallstreetzen.com 4 stockzoa.com 5 investor.cavco.com…”

3)

Who are some of the larger holders of stocks issued by Skyline Champion (SKY)?

Certainly! As of the latest available data, the larger holders of Skyline Champion Corporation (SKY) stock include:

1. Wellington Management Group, LLP: Wellington Management holds approximately 13.93% of the outstanding shares of Skyline Champion ¹.
2. Vanguard Group Inc: Vanguard is another significant shareholder, with a stake of approximately 9.28% ¹.
3. BlackRock Inc.: BlackRock holds approximately 7.53% of the outstanding shares ¹.
4. Capital World Investors: They have a stake of approximately 6.13% ¹.
5. MAK Capital One LLC: MAK Capital One holds approximately 5.19% ¹.
6. American Century Companies Inc: Their stake is approximately 4.20% ¹.
7. Thrivent Financial For Lutherans: Thrivent holds approximately 3.38% ¹.
8. T. Rowe Price Investment Management, Inc.: They have a stake of approximately 3.27% ¹.
9. Wasatch Advisors LP: Wasatch Advisors holds approximately 2.66% ¹.
10. State Street Corporation: State Street’s stake is approximately 2.48% ¹.

Additionally, some of the top mutual fund holders of Skyline Champion stock include:

• Smallcap World Fund: Holds approximately 3.10% ¹.
• Vanguard Total Stock Market Index Fund: Their stake is approximately 2.83% ¹.
• American Century Small Cap Value Fund: Holds approximately 2.75% ¹.
• Growth Fund Of America Inc: Their stake is approximately 2.54% ¹.
• Vanguard Small-Cap Index Fund: Holds approximately 2.29% ¹.

Please note that these holdings are subject to change over time due to market dynamics and investment decisions by these institutions and funds ¹. 📈🏠

Learn more

1 finance.yahoo.com 2 wallstreetzen.com 3 fintel.io 4 wallstreetzen.com…”

4)

Who are the larger holders of stocks issued by Equity Lifestyle Properties (ELS)?

Certainly! As of the latest available data, the larger holders of Equity LifeStyle Properties, Inc. (ELS) stock include:

1. Vanguard Group Inc: Vanguard holds approximately 13.31% of the outstanding shares of Equity LifeStyle Properties, making it one of the top institutional holders ¹.
2. BlackRock Inc.: BlackRock is another significant shareholder, with a stake of approximately 12.63% ¹.
3. Price (T.Rowe) Associates Inc: Price Associates holds approximately 7.21% of the outstanding shares ¹.
4. Aristotle Capital Management, LLC: Aristotle Capital Management has a stake of approximately 5.94% ¹.
5. State Street Corporation: State Street holds approximately 5.78% ¹.
6. Chai Trust Co LLC: Chai Trust Co holds approximately 4.81% ¹.
7. FMR, LLC (Fidelity): Fidelity has a stake of approximately 3.98% ¹.
8. Norges Bank Investment Management: Norges Bank holds approximately 3.46% ¹.
9. Victory Capital Management Inc.: Victory Capital Management holds approximately 2.66% ¹.
10. Geode Capital Management, LLC: Geode Capital Management’s stake is approximately 1.87% ¹.

Additionally, some of the top mutual fund holders of Equity LifeStyle Properties stock include:

• Vanguard Specialized-Real Estate Index Fund: Holds approximately 3.83% ¹.
• iShares Core S&P Midcap ETF: Their stake is approximately 3.03% ¹.
• Vanguard Total Stock Market Index Fund: Holds approximately 2.82% ¹.
• Vanguard Small-Cap Index Fund: Their stake is approximately 2.29% ¹.
• Victory Portfolios-Sycamore Established Value Fund: Holds approximately 1.66% ¹.

Please note that these holdings are subject to change over time due to market dynamics and investment decisions by these institutions and funds ¹. 📈🏠

Learn more

1 finance.yahoo.com 2 wallstreetzen.com 3 businesswire.com 4 equitylifestyle.gcs-web.com

5)

Who are the larger holders of stocks issued by Sun Communities (SUI)?

Certainly! As of the latest available data, the larger holders of Sun Communities, Inc. (SUI) stock include:

1. Vanguard Group Inc: Vanguard holds approximately 14.08% of the outstanding shares of Sun Communities ¹.
2. Cohen & Steers Inc.: Cohen & Steers is another significant shareholder, with a stake of approximately 10.89% ¹.
3. BlackRock Inc.: BlackRock holds approximately 8.90% of the outstanding shares ¹.
4. State Street Corporation: State Street holds approximately 4.76% ¹.
5. Principal Financial Group, Inc.: Principal Financial Group has a stake of approximately 3.67% ¹.
6. Norges Bank Investment Management: Norges Bank holds approximately 3.46% ¹.
7. FMR, LLC (Fidelity): Fidelity has a stake of approximately 2.17% ¹.
8. JP Morgan Chase & Company: JP Morgan Chase holds approximately 2.16% ¹.
9. Daiwa Securities Group Inc.: Daiwa Securities Group holds approximately 2.08% ¹.
10. Massachusetts Financial Services Co.: Massachusetts Financial Services holds approximately 2.02% ¹.

Additionally, some of the top mutual fund holders of Sun Communities stock include:

• Vanguard Specialized-Real Estate Index Fund: Holds approximately 4.03% ¹.
• Vanguard Total Stock Market Index Fund: Their stake is approximately 3.13% ¹.
• Vanguard Mid-Cap Index Fund: Holds approximately 2.24% ¹.
• Cohen & Steers Real Estate Securities Fund: Their stake is approximately 1.78% ¹.
• Cohen & Steers Institutional Realty Shares Incorporated: Holds approximately 1.57% ¹.

Please note that these holdings are subject to change over time due to market dynamics and investment decisions by these institutions and funds ¹. 📈🏠

Learn more

1finance.yahoo.com2marketbeat.com3ycharts.com4stockzoa.com5suncommunities.gcs-web.com6en.wikipedia.or

6)

Who are the larger holders of stocks issued by UMH Properties (UMH)?

Certainly! As of the latest available data, the larger holders of UMH Properties, Inc. (UMH) stock include:

1. Vanguard Group Inc: Vanguard holds approximately 9.85% of the outstanding shares of UMH Properties ¹.

1. BlackRock Advisors LLC: BlackRock is another significant shareholder, with a stake of approximately 7.05% ¹.

1. Cohen & Steers Inc.: Cohen & Steers holds approximately 5.94% ¹.

1. State Street Corporation: State Street holds approximately 5.78% ¹.

1. Principal Financial Group, Inc.: Principal Financial Group has a stake of approximately 3.67% ¹.

Additionally, some of the top mutual fund holders of UMH Properties stock include:

• Vanguard Specialized-Real Estate Index Fund: Holds approximately 3.83% ¹.

• iShares Core S&P Midcap ETF: Their stake is approximately 3.03% ¹.

• Vanguard Total Stock Market Index Fund: Holds approximately 2.82% ¹.

Please note that these holdings are subject to change over time due to market dynamics and investment decisions by these institutions and funds ¹. 📈🏠

Learn more

1 marketscreener.com 2 bing.com 3 umh.com 4 nasdaq.com 5 nasdaq.com 6 simplywall.st 7 media.gettyimages.com 8 media.gettyimages.com 9 media.gettyimages.com

7)

Who are the larger holders of stocks issued by Berkshire Hathaway?

Certainly! As of the latest available data, the larger holders of Berkshire Hathaway Inc. (BRK-A) stock include:

1. FMR, LLC: Fidelity Management & Research Company (FMR) holds approximately 5.82% of the outstanding shares, valued at around $17.33 billion ¹.
2. Gryphon Financial Partners Llc: Gryphon Financial Partners holds approximately 4.75% of the outstanding shares, valued at around $14.15 billion ¹.
3. First Manhattan Company: First Manhattan Company holds approximately 2.94% of the outstanding shares, valued at around $8.76 billion ¹.
4. Norges Bank Investment Management: Norges Bank holds approximately 1.03% of the outstanding shares, valued at around $2.77 billion ¹.
5. Corient Private Wealth LLC: Corient Private Wealth holds approximately 0.67% of the outstanding shares, valued at around $1.99 billion ¹.
6. Gardner Russo & Quinn, LLC: Gardner Russo & Quinn holds approximately 0.44% of the outstanding shares, valued at around $1.31 billion ¹.
7. Davis Selected Advisers, LP: Davis Selected Advisers holds approximately 0.35% of the outstanding shares, valued at around $1.04 billion ¹.
8. HighTower Advisors, LLC: HighTower Advisors holds approximately 0.35% of the outstanding shares, valued at around $1.05 billion ¹.
9. Pflug Koory, LLC: Pflug Koory holds approximately 0.33% of the outstanding shares, valued at around $0.98 billion ¹.
10. Vanguard Group Inc: Vanguard holds approximately 0.31% of the outstanding shares, valued at around $0.91 billion ¹.

Among the top mutual fund holders:

• Fidelity Contrafund Inc: Holds approximately 3.26% of the outstanding shares, valued at around $10.26 billion ¹.
• Fidelity Contrafund K6 Fund: Holds approximately 0.68% of the outstanding shares, valued at around $2.04 billion ¹.
• Fidelity Advisor New Insights Fund: Holds approximately 0.28% of the outstanding shares, valued at around $0.82 billion ¹.

Please note that these holdings are subject to change over time due to market dynamics and investment decisions by these institutions and funds ¹. 📈🏠

Learn more

1finance.yahoo.com2investopedia.com3kamilfranek.com4businessmodelanalyst.com5berkshirehathaway.com

8)

How much Berkshire Hathway stock does BlackRock and State Street have?

Certainly! As of the latest available data:

1. BlackRock Inc.:
   • BlackRock owns approximately 105.22 million Class B shares of Berkshire Hathaway, which represents approximately 4.87% of the total shares outstanding.
   • BlackRock is primarily a mutual fund and ETF management company with over $9 trillion in assets under management (AUM).
   • Notably, the iShares Core S&P 500 ETF (IVV) is one of BlackRock’s largest ETFs, with approximately $443.62 billion in AUM ¹.

1. State Street Corporation:
   • State Street holds approximately 2.48% of the outstanding shares of Berkshire Hathaway.
   • While specific details about the number of shares are not provided, State Street’s influence extends to various sectors due to its large-scale buying capability ².

These institutional investors play a significant role in shaping the ownership landscape of Berkshire Hathaway, reflecting their confidence in the company’s long-term prospects ². 📈🏠.

Learn more

1 investopedia.com 2 money.usnews.com 3 money.usnews.com 4 kamilfranek.com 5 finance.yahoo.com 6 businessmodelanalyst.com 7 berkshirehathaway.com 8 media.gettyimages.com

9)

How much stock does the investment arm of William “Bill” Gates III and/or the Gates Foundation have of Berkshire Hathaway (BRK) stock?

Certainly! Let’s explore the holdings of the Bill & Melinda Gates Foundation Trust, which manages investments on behalf of Bill and Melinda Gates. As of the latest available data:

1. Berkshire Hathaway Inc. (BRK.B):
   • The Gates Foundation Trust owns approximately 19.69 million Class B shares of Berkshire Hathaway.
   • This stake represents roughly 16.7% of the total holdings of the trust.
   • The total valuation of their Berkshire Hathaway holdings is approximately $6.08 billion ¹.

It’s important to note that the Gates Foundation Trust’s investment portfolio reflects a commitment to responsible investing, aligning financial growth with the foundation’s ethical values. Their holdings span across various industries, showcasing a diverse yet focused approach to sector allocation ². 📈🏠

Learn more

1 financhill.com 2 finance.yahoo.com 3 fool.com 5 media.gettyimages.com…”

10)

What is the name of Bill Gates investment firm?

In a follow up, Copilot also said this.

Cascade Investment, L.L.C., which manages investments on behalf of Bill Gates, holds approximately 4,050 shares of Berkshire Hathaway Inc. (BRK.A) Class A common stock. Each of these Class A shares is convertible into 1,500 shares of the Issuer’s Class B common stock ¹…”

Part II – Additional Information with More MHProNews Analysis and Commentary

Lagniappe 1 – not housing related.

As most Americans know, there was a solar eclipse on 4.8.2024. The left-leaning Houston Chronicle reported on 4.9.2024 that: ““Google Trends data shows a spike in searches for “my eyes hurt” and “why do my eyes hurt” in the Houston area on Monday afternoon. The same uptick was seen across Texas and the United States. Staring at the sun during an eclipse — or any other time — can lead to permanent eye damage.” While a source of jest for some, it is obviously not funny for those who either didn’t know not to take protective eye care precautions or who decided to ignore that advice. Either way, it is also not funny for those who now have to care for those who ignored that widely broadcast warnings by public officials, media, and others not to “stare” at the sun during an eclipse (or any other time).

One apt takeaway? Ignorance, foolishness, and a lack of wisdom has consequences. There are also consequences to the widespread lack of trust in media, government, and others. When some in a position of influence bend or break the truth, there are ripple effects in a society. When educators fail to teach critical thinking skills, there are often painful consequences.  The truth matters. Deception matters. It is not possible to have a sound society without the underpinnings of morality, faith, prudent thinking and behavior.

However modest, our ongoing effort to share what is real and true, regardless of source, is meant to be a lighthouse in a dark era. Despite record public access to information, this time is also a record amount of misinformation. “As of 2024, the number of smartphone users worldwide is estimated to be 7.1 billion¹.” Billions have more computing power and information access in their hands than some scientists had in their computers 6 decades ago. It is a stark contrast, but reveals the need for properly formed individual lives. That computing power and the internet can be used for good or ill. Prudence is necessary for the individual and for society.

Lagniappe 2 – is housing related.

The left-leaning Associated Press carried an item on 4.9.2024 entitled: “How effective are California’s homelessness programs? Audit finds state hasn’t been keeping track.” The lack of affordable housing, which means the lack of manufactured housing, is extensive in California.

California spent $24 billion to tackle homelessness over the past five years but didn’t consistently track whether the huge outlay of public money actually improved the situation, according to state audit released Tuesday.

With makeshift tents lining the streets and disrupting businesses in cities and towns throughout California, homelessness has become one of the most frustrating and seemingly intractable issues in the country’s most populous state. An estimated 171,000 people are homeless in California, which amounts to roughly 30% of all of the homeless people in the U.S.”

Those lagniappes aside, a pivot back to possible takeaways from the above should be noted.

Among them, in no particular order of importance, are the following.

1) Obviously, spending on the wrong things by government at whatever level (federal, state, or local) is a problem. Misallocation of public monies has consequences. Per the Government Accountability Office (GAO) via CNBC on 4.18.2023: Upwards of $247 billion in taxpayer money was wasted last year, according to estimates by the Government Accountability Office.”

Citizens Against Government Waste (CAGW) publishes a “Prime Cuts” report every year. For 2023, it said this.

Prime Cuts 2023 is a wide-ranging list of recommendations to reduce the record national debt. It covers all areas of the federal government, drawing on longstanding and new proposals from CAGW, and those set forth by both Democratic and Republican administrations and members of Congress, as well as nonpartisan sources. If adopted, the 543 recommendations would save taxpayers $402.3 billion in the first year and $4 trillion over five years.”

Corrupt, wasteful, and misspent money is in evidence from a range of sources, including government itself (GAO report). When wrongdoing is ignored, why are we surprised that runaway spending and record debt is a consequence? The federal debt on this date is about $34 trillion dollars. Service (i.e.: payments) on the federal debt rival payments for the military. Bad decisions have consequences.

2) Per the U.S. Census Bureau on 4.10.2024 in November 2023, the average cost of a new single section manufactured home in the U.S. was $85,900. In the West (includes California) it was $90,600. There are numerous vehicles that cost more than a basic, new manufactured home at this time.

3) Doing some math based on the data in #2 above is useful to illustrate. $24,000,000,000/$150,000 = 160,000.  In theory, with the money spent by the state of California could have purchased 160,000 new basic single section manufactured homes and had enough money to pay for an installation on a basic homesite. The point of that math exercise is not to necessarily advocate for the purchase of tens of thousands of manufactured homes by the state of California, although it could be a better outcome than whatever they are currently doing. Rather, it is to reveal just how ineffective homelessness (and governmental) strategies are. There is a need for more affordable housing. After the fact ‘patches’ using subsidies at taxpayer expense doesn’t work. The current model by state or federal officials will never work. 

4) It is the Manufactured Housing Institute (MHI) that should be making such or similar arguments. They should be doing routine press releases, social media posts, op-eds and whatever it takes to make the case for the proper implementation of the good laws that already exist at the federal level. For instance, on the DOE issue. Ironically, MHI’s own argument in the DOE case is another example of obvious disconnects. MHI is correct in saying that the EISA is being misapplied. “The Energy Independence and Security Act of 2007 (“EISA,” Pub. L. 110–140) directs the U.S. Department of Energy (“DOE” or in context, “the Department”) to establish energy conservation standards for manufactured housing (“MH”),” per the Federal Register. Both the Manufactured Housing Association for Regulatory Reform (MHARR) and MHI may seem to have at first glance similar arguments. But when carefully examined, MHI has demonstrably worked with federal officials to get the industry to the point where it currently is. A deeper dive into the twists and turns of that issue is linked below.  Failure to properly implement laws has consequences. It is foolhardy to now consider new legislation when existing legislation has been errantly applied.

5) How do such issues relate to the private equity firms reviewed in Part I?  Consider what Copilot noted several times: “These institutional investors play a crucial role in shaping the ownership landscape of Cavco Industries,” or that could be applied to the other firms named. Is there influence definitive over the various firms named in Part I above? Not necessarily, but it is significant. But it isn’t just corporate influence. There is political influence by private equity.

6) Per the right-leaning Wall Street Journal on Jan 12, 2024 BlackRock “In both the fourth quarter of 2021 and the fourth quarter of 2023, assets under management were roughly $10.01 trillion.” Per Statista, Vanguard has $8.6 trillion in assets under management (AUM) in 2024. Left-leaning Wikipedia said that State Street has an AUM in 2024 of US$3.7 trillion.
Wall Street Journal says BlackRock has AUM of $10.01 trillion, Statista said Vanguard has AUM of $8.6 trillion, and Wikipedia says State Street has AUM of $3.7 trillion. That sets up the following, because at times Copilot will err (and their disclosure from Bing says to double check, which we often do, as this exercise demonstrates.

Copilot, the GDP figure is low. $27.36 trillion is what the Bureau for Economic Analysis (BEA) said is the total for 2023. Then, per sources: “Wall Street Journal says BlackRock has AUM of $10.01 trillion, Statista said Vanguard has AUM of $8.6 trillion, and Wikipedia says State Street has AUM of $3.7 trillion.” Recheck your figures, and answer my question: “Then answer, how does that compare to the estimated total Gross Domestic Product of the U.S. in 2024? How much influence does that much financial power have over public policy?” Please recheck and revise response as needed.

I appreciate your attention to detail! Let’s revisit the figures and address your question.

1. Gross Domestic Product (GDP) in 2023: According to the U.S. Bureau of Economic Analysis (BEA), the real GDP for the fourth quarter of 2023 grew at an annual rate of 3.4 percent, while the third quarter saw a growth of 4.9 percent. These increases were primarily driven by consumer spending, government spending, exports, and investments, although private inventory investment decreased. Imports also played a role in the calculation of GDP¹.
2. Estimated GDP for 2024: While specific figures for 2024 are not yet finalized, various sources provide forecasts. The International Monetary Fund (IMF) predicts that the U.S. GDP will continue to grow, albeit at a slightly slower pace. Consumer spending is expected to increase more modestly, and both federal and state/local government purchases will rise less. Trade is likely to contribute positively to growth².
3. Financial Power and Public Policy: Now, let’s consider the financial power of major asset management firms:
   • BlackRock: With $10.01 trillion in assets under management (AUM), BlackRock is a global giant in investment management.
   • Vanguard: Vanguard manages $8.6 trillion in AUM, making it another influential player.
   • State Street: State Street oversees $3.7 trillion in AUM.

   Comparing these figures to the estimated GDP, we find that their combined AUM exceeds the GDP of many countries. However, it’s essential to recognize that AUM represents financial assets managed on behalf of clients, whereas GDP reflects the total economic output of a nation.

   Influence over Public Policy:

   • These financial institutions wield significant influence due to their size, reach, and role in global markets.
   • They engage in lobbying, advocacy, and policy discussions, aiming to shape regulations and economic policies.
   • Their influence extends beyond national borders, affecting international financial systems.

   However, direct control over public policy is complex. Policymaking involves multiple stakeholders, including governments, central banks, corporations, and citizens. While financial power can sway policy decisions, it’s not the sole determinant. Political processes, public opinion, and legal frameworks also play crucial roles.

   In summary, while these asset management firms hold immense financial clout, their influence over public policy is multifaceted and interconnected with broader socio-political dynamics³. 🌐💼🏛️…”

Copilot then linked a recent record (for us, anyway) 107 sources.

7) Possible takeaways from these facts. Those who say that BlackRock, Vanguard, or State Street “control” all companies, all politics, or the economy are arguably often going too far. That said, that’s an immense about of money and it is, as Copilot said, obviously influential.

• These financial institutions wield significant influence due to their size, reach, and role in global markets.
• They engage in lobbying, advocacy, and policy discussions, aiming to shape regulations and economic policies.
• Their influence extends beyond national borders, affecting international financial systems.
• While financial power can sway policy decisions, it’s not the sole determinant. Political processes, public opinion, and legal frameworks also play crucial roles.

Being informed on these issues is useful, need, and perhaps even crucial.  MHProNews has shed light on these issue previously in reports like those linked below.

As noted, it is too much to say (see below) that these firms are “puppet masters,” but it is also naive to ignore the influence that these firms have. So, while useful to sound the warning of the power these financial giants have, it is best not to overstate it either. Precision in information is obviously the ideal to be sought.

8) Turning to big government to solve problems through subsidies and other gimmicks is mistaken. Homelessness is getting worse, despite more spending.

9) The Masthead on MHProNews linked below makes clear in just 9 minutes that without millions of more manufactured homes, the U.S. affordable housing crisis can’t be solved by current known and proven technologies and methods.

10) MHI and these financial giants could be wielding more influence than they are to achieve the goal of properly implementing existing federal laws. From the ‘broken border’ to unaffordable housing, numbers of public officials and MHI are demonstrably NOT doing the job that they claim. Some of MHI’s own past and current members have aptly pointed out the obvious failures of MHI.

11) Copilot noted the international influence that BlackRock, Vanguard, State Street have. Or for that matter, Warren Buffett led Berkshire Hathaway, the influence of Bill Gates, Elon Musk, George Soros, Mark Zuckerberg, Jeff Bezos, and other uber billionaires and massive corporate interests have. There are too many photos of handshakes between Chinese Communist dictator Xi Jinping with big American corporate leaders to gather for a quick image, but they exist. As a talking head on left-leaning CNBC noted last year, it was odd to see U.S. business executives giving a Chinese Communist leader ‘multiple standing ovations.’

12) The troubling but interesting maxim that: the lies are so big no one would dare disbelieve them was explored in the report linked below.

13) It is better to light one candle than to curse the darkness is the motto of the Christopher Society that has been cited before.  It is the goal of MHProNews to light candles of truth on a daily basis.

14) To reclaim the American Dream, understanding is necessary.

15) Truth matters. Facts matter. Reality matters. See the related reports to learn more on these issues.

Part III – is our Daily Business News on MHProNews stock market recap which features our business-daily at-a-glance update of over 2 dozen manufactured housing industry stocks.

This segment of the Daily Business News on MHProNews is the recap of yesterday evening’s market report, so that investors can see at glance the type of topics may have influenced other investors. Thus, our format includes our signature left (CNN Business) and right (Newsmax) ‘market moving’ headlines.

The macro market moves graphics below provide context and comparisons for those invested in or tracking manufactured housing connected equities. Meaning, you can see ‘at a glance’ how manufactured housing connected firms do compared to other segments of the broader equities market.

In minutes a day readers can get a good sense of significant or major events while keeping up with the trends that may be impacting manufactured housing connected investing.

Headlines from left-of-center CNN Business – 4.9.2024

• A whistleblower claims that Boeing’s 787 Dreamliner is flawed. The FAA is investigating
• President Luiz Inacio Lula da Silva of Brazil and Minister of the Environment and Climate Change Marina Silva are participating in the launch of the Union with Municipalities Program to Reduce Deforestation and Forest Fires in the Amazon on Tuesday, April 9, 2024.
• Brazilian President Lula indirectly calls out Elon Musk on climate crisis, further fueling tensions
• Washington, DC – September 27: Lunchables are pictured for the ShameBlame story. (Photo by Sarah L. Voisin/The Washington Post via Getty Images)
• Consumer Reports say Lunchables ‘should not be allowed on menu’ for schools, petitions USDA for removal
• TV networks prepare letter to Biden and Trump campaigns urging them to commit to 2024 election debates
• In this March 14, 2019, file photo, a worker walks next to a Boeing 737 MAX 8 airplane parked at Boeing Field in Seattle. Boeing said Thursday, July 18, it will take a $4.9 billion charge to cover possible compensation to airlines whose Max jets remain grounded after two deadly accidents.
• Boeing timeline: Inside the air giant’s turbulent journey in recent years
• ABC Bullion two ounce gold bars are displayed at the ABC Refinery smelter in Sydney, New South Wales, Australia, on Thursday, July 2, 2020. Western investors piling into gold in the pandemic are more than making up for a collapse in demand for physical metal from traditional retail buyers in China and India, helping push prices to an eight-year high.
• Why gold prices are at record highs
• Kamilla Cardoso #10 of the South Carolina Gamecocks and Hannah Stuelke #45 of the Iowa Hawkeyes jump for the tip in the 2024 NCAA Women’s Basketball Tournament National Championship at Rocket Mortgage FieldHouse on April 07, 2024 in Cleveland, Ohio. South Carolina beat Iowa 87-75.
• Won (or lost) your March Madness bets? Don’t forget to report them on your taxes
• Mattel launches new, less ‘intimidating’ version of Scrabble
• European Commissioner for Europe fit for the Digital Age Margrethe Vestager attends a press conference presenting plans to boost the European Union’s arms industry in Brussels, Belgium March 5, 2024.
• Europe launches subsidies probe into Chinese wind turbine suppliers
• Boeing orders bounce back on demand for a plane it can’t deliver yet
• Norfolk Southern reaches $600 million settlement to settle East Palestine derailment suit
• Turkey restricts exports to Israel, saying its request to airdrop aid to Gaza was denied
• Big Tech’s grip on social media is a growing problem
• The stock market is shrinking and Jamie Dimon is worried
• Every month, economists expect the labor market to slow. Will it ever?
• HSBC to sell Argentina business in $550 million deal
• ‘This thing is going crazy.’ Why Trump Media stock is subject to extreme turbulence
• South Korea to invest $7 billion in AI in effort to retain edge in chips
• Behind the scenes of CNN’s coverage of the total solar eclipse across America
• Trump’s net worth has tumbled by $2 billion since Truth Social stock peaked last month
• Russia, chopsticks, oversupply: Everything you want to know about Janet Yellen’s China visit
• Biden to give Taiwan’s TSMC $6.6 billion to ramp up US chip production
• Tesla settles with Apple engineer’s family who said Autopilot caused his fatal crash

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below the graphic below or click the image and follow the prompts.

Headlines from right-of-center Newsmax – 4.9.2024

• Arizona AG: I Will Not Prosecute Under State’s Revived Abortion Law
• Arizona Attorney General Kris Mayes says she will not enforce a law dating back to 1864 that bans abortion in virtually all instances. Mayes, a Democrat, called the 4-2 court ruling upholding the 1864 law “unconscionable and an affront to freedom.” [Full Story]
• Court: Ariz. Can Enforce 1864 Law Criminalizing Most All Abortions
• Trump: States Should Decide on Abortion Laws
• Karoline Leavitt: Trump ‘Believes in States’ Rights’ on Abortion
• Matthew Whitaker: Trump Gave ‘Clear Position’ on Abortion
• Israel at War
• Blinken: Israel Hasn’t Specified Date for Rafah Ground Invasion
• Lloyd Austin: No Evidence Israel Committing Genocide
• Shahar Azani: Nixing Bibi Doesn’t ‘Get Rid of Headache’
• Israel Downs Drone at Sea Via Iron Dome, a First
• Islamic Jihad Spokesman Admits Group’s Rocket Hit Hospital
• IDF Kills Hamas ‘Emergency Committee’ Leader in Central Gaza
• US Slam Aside, Netahyahu Stands by Rafah Plan
• US Proposes New Guidelines for 6-Week Cease-Fire
• David Friedman: America’s Enemies Are Israel’s, Too | video
• US: Destroyed Houthi Red Sea Air Defense, Drone Systems
• Newsmax TV
• Karoline Leavitt: ‘Voters Don’t Care’ What Pence Says
• Biggs: May Have to Hold Garland in Contempt
• Fallon: Biden Made Migrant Trickle a Flood
• Napolitano: Impossible to Seat Jury With No Trump Opinion
• Iowa AG: SEC’s Climate Rule ‘Radical,’ Illegal | video
• Blackburn: Americans Want Mayorkas Impeached
• Matthew Whitaker: Trump Gave ‘Clear Position’ on Abortion
• Ex-UK PM Truss: Must Do More on Trans Issue | video
• Newsfront
• 7 More States Sue Biden Over Student Loan Relief Plan
• Seven states filed suit on Tuesday against President Joe Biden, Education Secretary Miguel Cardona, and the U.S. Department of Education over Biden’s SAVE income-driven repayment student loan initiative. … [Full Story]
• S&P Slightly Higher as Markets Brace for CPI, Earnings
• The S&P 500 posted nominal gains Tuesday, a day ahead of major [Full Story]
• UK’s Cameron Heads to D.C. After Meeting With Trump
• British Foreign Secretary David Cameron is in Washington on Tuesday [Full Story]
• Most Foreign-Born People in US Live in Just 4 States
• More than half of the foreign-born population in the United States [Full Story]
• Blood Test Accurately Detects Early Pancreatic Cancer
• A blood test appears capable of detecting early-stage pancreatic [Full Story]
• Blue States Taunt Supreme Court on 2nd Amendment
• Despite the U.S. Supreme Court’s recent string of rulings – including [Full Story] | Platinum Article
• RFK Jr. Ally: ‘Getting Rid of Biden’ Top Priority
• A consultant for the presidential campaign of Robert F. Kennedy Jr. [Full Story]
• Related
• ‘Real Threat’: Presidential Long-Shot RFK Jr Alarms Democrats
• RFK Jr. Vows to Appoint a Jan. 6 Special Counsel
• Russia Calls for IAEA Meeting on Ukraine’s Zaporizhzhia
• An extraordinary meeting of the U.N. nuclear watchdog’s 35-nation [Full Story]
• Related
• Russia Destroys Ukraine Anti-ship Missile, Downs 4 Drones
• Ukraine Destroys 20 Drones Launched by Russia Overnight
• Bible Read From at JFK’s 1963 Funeral Up for Auction
• The “inauguration” Bible that Jacqueline Kennedy, the widow of [Full Story]
• US Taking Chinese Invasion of Taiwan ‘More Seriously’
• A new assessment determining that “all indications point to” China’s [Full Story] | Platinum Article
• Appeals Court Rejects Trump’s Latest Attempt to Delay N.Y. Criminal Trial
• A New York appeals court judge Tuesday rejected former President [Full Story]
• EPA: New Regulations on Chemical Plant Emissions
• The Environmental Protection Agency issued new regulations on Tuesday [Full Story]
• Physicist Who Proposed Existence of ‘God Particle’ Dies at 94
• Nobel prize-winning physicist Peter Higgs, who proposed the existence [Full Story]
• Power Use Forecast to Reach Record Highs in ’24, ’25
• U.S. power consumption will rise to record highs in 2024 and 2025, [Full Story]
• Study: Pregnancy Accelerates Aging
• Pregnancy transforms women’s bodies in many obvious ways, but new [Full Story]
• Arizona AG Won’t Prosecute State’s Abortion Law
• Arizona Attorney General Kris Mayes says she will not enforce a law [Full Story]
• US Postal Service Wants to Hike Stamps to 73 Cents
• The United States Postal Service (USPS) said Tuesday it wants to [Full Story]
• US Sent Seized Iran Weapons, Ammo to Ukraine
• The U.S. gave small arms and ammunition to Ukraine that were seized [Full Story]
• Riley Gaines: S.C. Coach a Sellout for Trans Comment
• South Carolina women’s basketball coach Dawn Staley set the internet [Full Story]
• Arizona Can Enforce an 1864 Law Criminalizing Nearly All Abortions, Court Says
• The Arizona Supreme Court ruled Tuesday that the state can enforce [Full Story]
• Computers to Grade Written Answers on Tests in Texas
• Students taking the State of Texas Assessment of Academic Readiness [Full Story]
• Parents of Mich. School Shooter Get 10-15 Years Each
• The parents of a Michigan teen who shot and killed four classmates [Full Story]
• Secretary of State Raffensperger ‘Not Mad’ About ‘Curb’ Mockery
• Georgia Republican Secretary of State Brad Raffensperger says he’s [Full Story]
• $1M Home Now the Norm in Record Number of Cities
• The U.S. has 550 cities where the typical home is worth more than $1 [Full Story]
• Lloyd Austin: No Evidence Israel Committing Genocide
• Defense Secretary Lloyd Austin said Tuesday there was no evidence [Full Story]
• ‘Chasing Trump’ Exposes Prosecutors’ Backgrounds
• Allies of Donald Trumpwill unveil an online documentary two days [Full Story]
• Charles Barkley: Eclipse Watchers Are ‘Losers’
• Broadcaster Charles Barkley, a former NBA star, called those who [Full Story]
• FBI Foils Idaho Church Attack by ISIS Sympathizer
• The FBI arrested a man on Saturday who pledged his alliance to ISIS [Full Story]
• US Army to Cut 2 Major Education Benefits
• The U.S. Army is eyeing cuts to two major education benefits for [Full Story]
• Axios: Trump Favorability Rising Among Latinos
• President Joe Biden’s favorability rating among Latinos has dropped [Full Story]
• Billy Dee Williams Defends Actors Wearing Blackface
• Actor Billy Dee Williams sparked debate when he defended performers [Full Story]
• More Newsfront
• Finance
• $1M Home Now the Norm in Record Number of Cities
• The U.S. has 550 cities where the typical home is worth more than $1 million, according to Zillow data as of February…. [Full Story]
• Content Creation Holds Appeal for Laid-Off Workers
• Japan’s Kishida Expects More US Chip Collaboration
• 7 More States Sue Biden Over Student Loan Relief Plan
• Intel Details New AI Chip to Fight Nvidia Dominance
• More Finance
• Health
• 5 Spices that Boost Heart Health
• Take a pass on the saltshaker and add special spices to your favorite foods to enhance the flavor while boosting your cardiovascular health, says HuffPost. “Spices are high in antioxidants, and antioxidants fight free radicals that can wreak havoc in our bodies,” says Dr……. [Full Story]
• Even a Little Secondhand Smoke Increases A-Fib Risk
• How Scents Work to Treat Dementia and Depression
• Did You Damage Your Eyes While Watching the Eclipse?
• Wegovy Helps Those With Both Diabetes, Heart Failure

 

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Notice: MHProNews invites the firms named in these reports to respond to any concerns about possibly inaccurate information via email that identifies the concern and offers evidence that sheds a different light on the topic discussed. That said, neither MHI nor MHI publicly traded ‘insider brands’ have done so. They’ve been repeatedly invited to do so, including but not limited to an outreach on Dec 7, 2o23 and Feb 25, 2024.

APO = Apolo Global Management – bought Inspire Communities

BAM = Brookfield Asset Management – owns and invests in manufactured home communities (MHCs).

BLK = BlackRock – conglomerate has investments in firms and operations involved in manufactured housing.

BRK-A = Berkshire Hathaway – includes outright ownership of Clayton Homes, 21st Mortgage Corp, Vanderbilt Mortgage and Finance, other manufactured home industry linked firms (MHC brokerage, suppliers, etc.).

BX = Blackstone – Blackstone Group LP has made its first big bet on manufactured housing by buying a portfolio of communities sold by Tricon Capital Group Inc.

CDPYF = Canadian Apartment Properties Real Estate Investment Trust – also has manufactured home communities (MHCs).

CIGI = Colliers International Group Inc. – The Manufactured Housing and RV Group “We Assist Owners and Investors with Disposition, Acquisition, and Financing for Manufactured Housing Communities and RV Parks.”

CG = The Carlyle Group – has manufactured home communities investments.

CSGP = CoStar Group – is commercial real estate’s leading provider of information, analytics and online marketplaces. They acquired listing service Homes.com.

CVCO = Cavco Industries – manufactured home and other factory-built housing production, retail, finance, insurance.

ECNCF = ECN Capital Group – includes manufactured home lender Triad Financial Services.

ELS = Equity LifeStyle Properties – includes land lease manufactured home communities (MHCs), but also RV and marine slips holdings. Also has captive manufactured home retail operations, and parent to Datacomp/MHVillage.

FGF = FG Financial Group – FG Communities “Owns and Operates Growing Portfolio of Manufactured Housing Communities.” KEY = KeyCorp – manufactured home community financing and manufactured home single-family mortgage financing.

KMMPF = Killam Apartment REITs- (includes manufactured home communities (MHCs).

LCII = LCI Industries – components for the manufactured home industry and others (RVs, housing, etc.).

LEGH = Legacy Housing – produces manufactured homes, tiny houses, retail, and captive finance operations.

LPX = Louisiana Pacific Corporation – components for the manufactured home industry and others (housing, etc.).

MHC-UN.TO = Flagship Communities Real Estate Investment Trust (REIT).

MHPC = Manufactured Housing Properties – land lease manufactured home communities (MHCs).

MMI = Marcus and Millichap – commercial real estate brokerage services that include land lease manufactured home communities (MHCs).

NOBH = Nobility Homes – produces and offers captive retail, financing, and insurance services for HUD Code manufactured homes and modular homes.

PATK = Patrick Industries – components for the manufactured home industry and others (RVs, housing, etc.).

SKY = Skyline Champion – produces and offers captive retail, financing, and insurance for HUD Code manufactured homes and modular homes.

SUI = Sun Communities – includes land lease manufactured home communities (MHCs), but also RV and marine slips holdings. Also has captive manufactured home retail operations.

UMH = UMH Properties – includes land lease manufactured home communities and captive manufactured home retail, leasing, and financing operations.

UFPI = UFP Industries – components for the manufactured home industry and others (housing, etc.).

• • • NOTE 1: Chart above of manufactured housing connected equities includes the Canadian stock, ECN, which purchased Triad Financial Services, a manufactured home industry finance lender.
    • NOTE 2: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).
    • NOTE 3: Deer Valley was largely taken private, say company insiders in a message to MHProNews on 12.15.2020, but there are still some outstanding shares of the stock from the days when it was a publicly traded firm.  Thus, there is still periodic activity on DVLY.
    • Note 4: some recent or related reports to the REITs, stocks, and other equities named above follow in the reports linked below.
    • Note 5: Gifts of Sight and Insights, What’s in Store for 2024? Including 2023 Year End Reflections, manufactured homes, manufactured housing, mobile homes, MHVille, USA Snapshots, Manufactured housing industry year in review 2023.

 

 

2023 …Berkshire Hathaway is the parent company to Clayton Homes, 21^st Mortgage, Vanderbilt Mortgage and other factory-built housing industry suppliers.
· LCI Industries, Patrick, UFPI, and LP each are suppliers to the manufactured housing industry, among others.
· AMG, CG, and TAVFX have investments in manufactured housing related businesses. For insights from third-parties and clients about our publisher, click here.

 

2022 was a tough year for many stocks. Unfortunately, that pattern held true for manufactured home industry (MHVille) connected stocks too. See the facts, linked above.

====================================

Disclosure. MHProNews holds no positions in the stocks in this report.

· For expert manufactured housing business development or other manufactured housing professional services, click here.
· To sign up in seconds for our industry leading emailed headline news updates, click here.

• Note 1: MHVille means manufactured housing industry, MHVille also means artificially smaller manufactured housing (MH) industry,
• Note 2: Manufactured housing, building, factories, retail, dealers, manufactured home, communities, passive mobile home park investing, suppliers, brokers, finance, financial services, macro-markets, manufactured housing stocks, Manufactured Home Communities Real Estate Investment Trusts, MHC REITs.
• Note 3:
  

  APO, Apollo Global Management, BAM, Brookfield Asset Management, BLK, BlackRock, BRK-A, Berkshire Hathaway, BX, Blackstone, CDPYF, Canadian Apartment Properties Real Estate Investment Trust, CIGI, Colliers International Group Inc, CG, The Carlyle Group, CSGP, CoStar Group, CVCO, Cavco Industries, ECNCF, ECN Capital Group, ELS, Equity LifeStyle Properties, FGF, FG Financial Group, FG Communities,  KEY, KeyCorp, KMMPF, Killam Apartment REITs, LCII, LCI Industries, LEGH, Legacy Housing, LPX, Louisiana Pacific Corporation, MHC-UN.TO, Flagship Communities Real Estate Investment Trust (REIT), MHPC, Manufactured Housing Properties, MMI, Marcus and Millichap, NOBH, Nobility Homes, PATK, Patrick Industries, SKY, Skyline Champion, SUI, Sun Communities, UMH, UMH Properties, UFPI, UFP Industries.

That’s a wrap on this installment of “News Through the Lens of Manufactured Homes and Factory-Built Housing” © where “We Provide, You Decide.” © (Affordable housing, manufactured homes, stock, investing, data, metrics, reports, fact-checks, analysis, and commentary. Third-party images or content are provided under fair use guidelines for media.) (See Related Reports linked herein. 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.
Tony earned a journalism scholarship along with numerous awards in history. There have been several awards, honors and numerous public recognitions for his achievements 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. Kovach is a managing member and co-founder of LifeStyle Factory Homes, LLC, the parent company to MHLivingNews.com and MHProNews. MHProNews is ranked as the runaway most read trade media in modern manufactured housing history. Manufactured Home Pro News (MHProNews) is the documented #1 largest and most read source for manufactured housing industry News Tips and Views Pros Can Use, per Webalizer 2.23 and known data. MHProNews gets millions of visits a year and has significantly more pageviews per visit than CNN or Fox per SimilarWeb’s stats for those two sites (but those sites get more much more total traffic). Statistics Data Infographics Research Facts Evidence and manufactured housing industry expert analysis make us the runaway most read in MHVille trade media. This article reflects the LLC’s and/or the writer’s editorial views and may or may not reflect the views of sponsors or supporters.