While the percentage of Millennials (ages 18-31) moving back with their parents rose from 34 percent in 2009 to 36 percent in 2012, as MHProNews reported Aug. 6, 2013, Trulia.com reports multi-generational living is going in another direction as well: The number of seniors living with their children and other …
Seniors Joining Millennials in Ranks or those Living with Relatives Read More
According to the analytic firm Zillow, 10.8 million homeowners still owe more than their house is worth, a drop of over 4.9 million from the high point of Q1 2012, which represents a 21 percent decline when the negative equity peak was 31.4 percent of all homeowners. In Q2 2013 …
Slowing Home Appreciation Means Positive Equity Distant for Underwater Borrowers Read More
The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) indicates more builders of newly-built single-family homes view market conditions as good rather than poor for Nov., the sixth consecutive month of a rating over 50, although the percentage was unchanged from last month. The HMI gauges builders …
MHProNews has learned from dailyyonder.com, while an estimated 470,000 rural veterans live in manufactured homes (MH), they are less likely to live in MH than the rural population as a whole. However, twice as many rural veterans live in MH than veterans as a whole nationally. While rural areas have …
Marking the fastest quarterly growth since the current recovery began, the latest FNC Residential Price Index (RPI) rose 2.5 percent from Q2 to Q3 2013. As HousingWire informs MHProNews, FNC attributes the growth to rising home sales and a drop in foreclosure sales. Nationwide, foreclosure sales accounted for 13.4 percent …
Due to rising balances on mortgages, student loans and auto loans, total indebtedness increased by $127 billion, 1.1 percent, over the previous quarter, according to the New York Federal Reserve. A slowdown in foreclosures—the lowest level since the end of 2005—helped offset a drop in mortgage originations, as did a …
Consumer Debt Rises; Foreclosures, Delinquencies Fall Read More
The National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI) reports 64.5 percent of new and existing homes sold in the third quarter were affordable to U. S. families earning the median income of $64,400, a drop from 69.3 percent in Q2 2013. This was the largest drop …
According to data collected by Zillow, homes listed for sale nationwide sold a month faster in September, 2013 than in Sept. 2012, falling from 116 days to 86 days. Covering the 30 largest metro markets, where homes sold faster this Sept. compared to last, homes that moved the fastest and …
According to Zillow Mortgage Marketplace, the 30-year fixed rate mortgage (FRM) rose 17 basis points in the week ending Nov. 12 to 4.44 percent. The rate moved up due to the government’s strong jobs numbers and better-than-expected growth in the gross domestic product (GDP). The Mortgage Bankers Association (MBA) reports …
The recovery of the housing market is still a long ways off, according to CNBC.com, noting people who rushed to buy this summer will realize they have made a “grave mistake.” Existing home sales were down 1.9 percent in Sept., and revised figures for August, which is often the last …
The latest Zillow Home Price Expectations Survey reveals home values have been rising quickly this year and will end at 6.7 percent over 2012. The next five years will see that rise cool off, falling to 4.3 percent appreciation in 2014 and 3.4 percent by 2018. Zillow Chief Economist Dr. …
A report from government-service enterprise (GSE) Freddie Mac indicates of all the borrowers refinancing Freddie loans in Q3 2013, 37 percent chose shorter loan terms, a five percent increase from the previous quarter and the highest level recorded since 1992. According to housingwire, 32 percent of HARP (Home Affordable Refinancing …
Paul Ashworth, an economist with Capital Economics, noting real incomes for Americans have been stagnant since the 1970s, says the younger generation cannot afford big ticket items like buying a home. As MHProNews knows, many millennials are living with their parents because they cannot find jobs that can support a …
Offshoring Jobs Dropped Real Income, Housing Sales Read More
Noting that it is reasonable for consumers to pause during an economic bubble, Moody’s Investor Services says as mortgage rates and home prices stabilize, home buyers will return to the market to begin satisfying long pent-up demand. Traditionally, as HousingWire reports, homebuilding depends upon new household formation. But because real …
Current sales, prospective buyer traffic and anticipated six-month sales for the 55+ housing market showed continued improvement in the third quarter of 2013 compared to the same period last year, according to the National Association of Home Builders (NAHB) Housing Market Index (HMI). The single-family index rose 14 points to …
While many buyers of manufactured homes (MH) are more concerned with affordability and, say, the kitchen cabinetry than energy efficiency, the MH industry is offering more energy efficient features that can save the homeowner anywhere from $30 to $70 month. Ronnie Richards, vice president of marketing for American Homestar Corporation, …
Energy Report on “Not Your Grandfather’s Trailer House” Read More
With legislation passed last year to allow micro apartments of 220 square feet in San Francisco as a means to address the housing shortage and accompanying rising cost of living space, 120 of the approved 375 units are now in the works. At $1,300 a month, they are designed for …
Statistics compiled by the Department of Housing and Urban Development (HUD) reveal the production of manufactured homes rose almost 25 percent in Sept. over Sept 2012—5,483 homes versus 4,393 HUD Code homes in 2012. The Manufactured Housing Association for Regulatory Reform (MHARR) further informs MHProNews total production for 2013 is …
According to a recent Pew Research survey, 36 percent of college graduates are moving back in with their parents, unable to find good jobs and saddled with school debt. While they are saving money, it makes it more difficult to establish a credit history, especially if they have missed a …
While the cost of manufactured goods has declined in the last 30 years, some significantly, the price of some services has skyrocketed. TV sets have fallen 98 percent, clothing 46 percent and toys have dropped 78 percent, due mostly to automation and supply chain management, as manufacturing goes through what …
