A survey by the MacArthur Foundation reveals the affects of the housing downturn on Americans along racial lines. From the get go, whites are more likely to own homes, and those homes are just as likely to be in neighborhoods where home values appreciate. Blacks and Latinos were more likely …
In an article on MHProNews, Ross Kinzler, Executive Director of the Wisconsin Housing Alliance, noting in the three years immediately following implementation of the HUD Code in 1976, one million manufactured homes (MH) were produced. The next million took four to five years to produce, and more recently, twelve years …
Kinzler: MH Production Status Quo is not Acceptable Read More
Single-and multifamily housing starts both fell in May as production dropped 6.5 percent to a seasonally annual adjusted rate (SAAR) of just above one million, according to figures from the Census Bureau and the Department of Housing and Urban Development (HUD). Single-family housing starts dropped 5.9 percent to a SAAR …
As CNNMoney reports low mortgage rates and rising rents make it profitable for homeowners to retain their former homes and become landlords, earning more than the expenses. Susan Young of Kansas refinanced her home at 3.25 percent with a 30-year fixed rate mortgage and bought another home. She receives several …
In a revision to a post MHProNews published June 3, 2014 regarding HUD Code home production in April, 2014, the Manufactured Housing Institute (MHI) reports 5,718 homes were shipped that month, upwardly revised from the 5,653 homes we previously reported, a 7.5 percent increase over April, 2013. Total floors shipped …
Builder confidence for single-family, newly-built homes rose four points to 49, one point shy of the mark for what is considered “good” building conditions. According to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The result of a monthly survey NAHB has been conducting for 30 years, …
Single-family Home Builders One Point more Confident Read More
From more than 600 pages of tables published by the Census Bureau/Department of Housing and Urban Development (HUD) concerning home building in 2013, nationalmortgagenews.com has determined of the 569,000 new homes built last year, only 429,000 were sold, although the remainder likely sold in Q1 of 2014. However, the total …
Although some 10,000 Baby Boomers reach retirement every day, leaving the workforce (between 2006 and 2012 the number of working boomers fell by nine percent) and child rearing days behind, Patrick Simmons, with Fannie Mae, says contrary to popular belief they are not downsizing and moving to multifamily residences. He …
Seattle, San Francisco, San Jose, Los Angeles, and San Antonio are the top five housing sellers markets, according to Zillow.com. These cities have the shortest selling time and sold prices are often at or above asking prices. Chicago, Cleveland, Pittsburgh, Tampa and Philadelphia are the best for buyers because they …
Housing Sellers’ Markets? Go West. Buyers Markets? Eastern U. S. Read More
Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 109,824 U. S. properties in May 2014, a five percent decrease from the previous month, and a 26 percent drop from one year ago to the lowest monthly level since Dec., 2006, according to RealtyTrac’s latest …
Foreclosures Fall Nationally 26 Percent Year-over-Year Read More
McGraw Hill’s Construction Forecast Report anticipates 45 percent of all construction begun in the U. S. in 2014 will be single and multifamily housing projects. A survey of builder and remodeler members of the National Association of Home Builders (NAHB) reveals 62 percent of single-family home builders report they are …
U. S. employers added 217,000 jobs in May, continuing four months of significant job growth that now averages 234,000 for the past three months, although it is a drop from the 282,000 added in April. Following a slow start to the year, often blamed on the severe winter weather, the …
While housing experts and economists maintain the housing crisis is over, a survey conducted by the John D. and Catherine T. MacArthur Foundation in April reveals 51 percent of respondents believe the nation continues in the throes of the housing bust, and 19 percent believe the worst has yet to …
Half of Americans Believe Housing Crisis has not Passed Read More
The National Modular Housing Council (NMHC) reports shipments of 2,874 modular homes for the first quarter of 2014, a drop of 2.1 percent over the same quarter 2013. Compared to Q1 2013, ten states saw increased shipments of modular homes while 24 states experienced reductions. For purposes of comparison, as …
Following a one percent spike in consumer spending in March, April saw a -0.1 percent decline, the first drop in spending in one year, according to the U.S. Commerce Department, as RVBusiness.com tells MHProNews.com. The surge in March marked the largest increase in four years. Consumer spending accounts for 70 …
Consumer Spending Falls for First Time in 12 Months Read More
The latest Multifamily Production Index (MPI) released by the National Association of Home Builders (NAHB) reports production of apartments and condominiums rose three points in the first quarter to 53, marking the ninth consecutive quarter with a reading of 50 or above. The MPI is derived from three key elements …
For the second straight month, pending home sales rose in April to 97.8 from 97.4, according to the National Association of Realtors (NAR) Pending Home Sales Index (PHSI), an indicator based on signed contracts., reports worldpropertychannel.com. Although the index is 9.2 percent below April 2013, NAR Chief Economist Lawrence Yun …
Russell Kellett, writing in Great Britain’s cnplus.co, says offsite manufacturing is the wave of the future for building because it’s more cost-effective, sustainable, delivered faster and of higher quality. Noting that minimizing production on site takes away many risks, he says, “The automated factory process allows you to calculate materials …
CoreLogic Case-Shiller informs MHProNews single-family homes prices rose in every Chicago-area zip code last year for the first time since 2006, led by the Mount Greenwood neighborhood–60655–on the South Side at 16.5 percent, followed by Morgan Park–60643– with 15.9 percent. At the other end of the spectrum Joliet–60432– notched the …
The California Manufactured Housing Institute (CMHI) informs MHProNews.com 70 percent of manufactured home sales there are not starter homes but rather second homes or people downsizing to an aging in place residence. Increasingly, people are paying in cash, and, according to CMHI President Jess Maxcy, the trend towards the higher-end …
Manufactured Home Sales Rise 24 Percent in California Read More
