At a time when U.S. housing experts have consistently sounded alarms on the lack of housing affordability, especially for first time home buyers, reports indicate that Cavco Industries has had “insiders” selling shares of their stock (CVCO).  In a separate but arguably related topic, earlier this week in testimony to the powerful House Ways and Means Committee, U.S. Treasury Secretary Janet Yellen said the following about the lack of affordability in housing, per left-leaning Yahoo News as well as financial and investment news site Benzinga.  Yellen’s statements on housing will be explored in Part I of this report. Part II of this news-analysis will focus on Cavco Industries and insider selling at that prominent Manufactured Housing Institute (MHI) member firm.

Part III will provide some additional information with more MHProNews analysis and commentary.  Part IV is our Daily Business News on MHProNews manufactured housing industry connected equities market report.

Part I According to Yahoo and Benzinga on Remarks by Janet Yellen on the Lack of Affordable Housing

1)

Mortgage rates have been so low for so long that it’s created a lock-in effect where people don’t want to sell their homes to buy new ones for fear of losing their attractive rates.

That’s made it “almost impossible” for first-time homebuyers to enter the housing market, U.S. Treasury Secretary Janet Yellen said during her testimony before the House Ways and Means Committee.

“With house prices having gone up and now with much higher interest and mortgage rates, it’s almost impossible for first-time buyers,” Yellen said.”

2)

Per that report, hundreds of U.S. cities have median existing home sale price of over a million dollars.  Given that HUD Code manufactured homes are the demonstrably most proven form of permeant affordable housing in the U.S. and have been for decades, that ought to be good news for most manufactured home industry professionals.  Keep in mind that a recent Star Tribune on 4.8.2024 pointed to these facts.

The average single-wide cost $86,100 while a multi-section cost $158,633. That analysis also showed that from 2017-22, the average price of a new mobile home increased 77.1%, far faster than a new single-family home, which increased 46.7%. In both cases, those gains didn’t include the value of the land.”

Meaning, inherently affordable housing is available.

3) Returning to Yahoo and Benzinga report on Yellen’s and related housing remarks.

“We know that affordable housing and starter homes are an area where we really need to do a lot to increase availability,” Yellen said.

In 550 American cities, median home prices have reached $1 million, according to a recent report from Zillow. California tops the list with 210 cities — mainly around Los Angeles and San Francisco — having million-dollar home values.

Part of the problem is that investors have been snapping up America’s affordable housing, purchasing 26% of the stock in the fourth quarter of 2023, according to a Redfin report. That’s not only a record — it also represents a 24% increase in investor purchasing activity over the previous year.

Some lawmakers are looking for ways to deter the practice. Last July, U.S. Senators Sherrod Brown, D-Ohio, and Ron Wyden, D-Oregon, proposed legislation aimed at curbing tax benefits for corporate investors that engage in the acquisition of residential properties, which can lead to elevated housing costs and rental rates.

The Stop Predatory Investing Act seeks to prevent investors that amass 50 or more single-family rental homes from claiming deductions on interest or depreciation related to those properties.

Another bill — the End Hedge Fund Control of American Homes Act — would prohibit hedge funds from owning residential properties and mandate the sale of at least 10% of their total single-family home inventory to families per year over the next decade.

The legislation would impose a $50,000 tax penalty per year on hedge funds for each property owned beyond zero or a scheduled 10% reduction per year over the 10-year period. It would charge a 50% tax on the fair market value of future single-family home acquisitions by hedge funds.

“The housing in our neighborhoods should be homes for people, not profit centers for Wall Street, U.S. Senator Jeff Merkley, D-Oregon, said in a statement. “Yet, in every corner of the country, giant financial corporations are buying up housing and driving up both rents and home prices. It’s time for Congress to put in place commonsense guardrails that ensure all families have a fair chance to buy or rent a decent home in their community at a price they can afford.”

4) Ironically, whatever contributing factor private equity plays in the lack of affordable housing in the U.S., it has been repeatedly documented using often left- or Democratic-leaning sources that the big financial interests in the U.S. largely favor what leftist Michael Weinstein called “Corporate Democrats.” Yellen was appointed by Joe Biden, who right or wrong has presided over this housing and inflationary fiasco that emerged after President Donald J. Trump exited the White House. Yellen was nominated by Biden, says Brittanica, whom the Democratic led Senate confirmed: “She [Yellen] was confirmed by the Senate in January 2021 by a vote of 84 to 15.” So, a Democratic led White House, then with a Democratic led Congress in both the House and Senate offered economic and spending policies that fueled inflation, as then Democratic House Majority Whip James Clyburn put it “knew” would cause inflation. Not one word of that is found in Yahoo or Benzinga‘s report. In fairness, such facts are often missing from other mainstream news sources that covered the same items on remarks made by Yellen to the House Ways and Means Committee earlier this week.

5) Inflationary events since Trump left the White House and the Biden-Harris team moved in have apparently harmed over half of American households, many of whom reportedly are ‘struggling’ with housing payments (be they rental or mortgage payments).  As is routine with inflation, the impact on housing has arguably harmed the lowest rungs of the economic ladder the most.  Blacks or other minorities as well as younger adults of whatever ethnic or gender groups have been disproportionately harmed.

6) What often makes mainstream news accounts tricky may not be so much that they report false information, but rather it is what is left out of news reports that can make a mainstream news account incomplete and therefor misleading. Every single word in an article can be factually accurate, but if some key piece(s) of information are lacking, the impressions given to the reader are skewed. For example, in the Yahoo or Benzinga report cited, where is there any mention of the items pointed out in this analysis? Without mentioning whose policies caused inflation, a reader might be led to think that Democrats are galloping to the rescue. The reality is that Democrats – per Democrat Rep. James Clyburn (SC-D) and others – fueled much of the inflation that is at the root of the policies that have sparked housing unaffordability in the past 3 plus years.

7) Without a complete picture, it may seem to a casual reader who is not well informed on manufactured housing, or the details pointed out in this report with analysis, that Democrats are trying to fix problems. What the reports should be indicating is that the problems were fueled by Democratic policies. Perhaps as or more important, the proposed solutions offered by Democrats demonstrably won’t work.  Basic math makes it clear that there are millions of new housing units needed and those homes must be inherently affordable. Meaning, the ‘affordability’ should not be a consequence of some taxpayer subsidy.

8) Quotes like these from the Yahoo/Benzinga piece indicate the problem of much of mainstream media reporting: “…Biden has proposed a pair of tax credits to help solve the housing crisis. The first proposed tax credit would provide $10,000 to first-time homebuyers. A separate $10,000 tax credit is proposed for homeowners who sell their “starter home” to move into a bigger house.” Those are smoke and mirrors proposals, something their report fails to point out. Here is why. Merely getting someone to leave a less expensive conventional house may help an individual buyer, but it is not a solution to the housing crisis. Only millions of new homes that are affordable can cause affordability to return. It is HUD’s own researchers who have said that only a big boost in new housing supply can fix the housing crisis. HUD’s director of technology and innovation in their Policy Development and Research (PD&R) unit, Regina Gray, who said that manufactured homes must be part of the mix of those solutions.  Yet, most mainstream media have failed to report such items.

Also oddly, HUD’s Regina Gray’s or Pamela Blumenthal‘s names – and thus, their relevant research findings – can’t be found on the MHI website, at least they aren’t there on 5.4.2024. But then, even though their then-vice chairman and now MHI Chairman Bill Boor called for HUD to enforce “enhanced preemption” under the MHIA (2000 Reform Law), that “enhanced preemption” phrase is also missing from the MHI website on this date.

Pressing for consistent enforcement of federal preemption is supposed to be a key item in MHI’s advocacy to overcome zoning barriers that keep more manufactured homes from being built and placed. Yet this periodic search by MHProNews of the MHI website for the critical “enhanced preemption” phrase in that struggle by others in the industry to get federal preemption enforced to overcome zoning barriers limiting manufactured housing placements has been conducted several times over the course of years. By contrast, MHARR has that phrase used in pages of articles posted on their website. What is going on there at MHI?

9) Speaking of priorities, an MHI priorities document also fails to mention enforcement of specific existing laws, often pressing for news laws instead. Why is MHI asking for new legislation when existing laws have not been properly enforced and are thus allowed to languish? As part of a new Bing AI powered Copilot boosted fact check and analysis Copilot said this about MHI’s advocacy: “The failure to litigate for enforcement [of existing federal laws] during an affordable housing crisis raises valid questions about priorities and commitment.”

In that same fact check and analysis, Copilot observed the following.

Focus on Existing Laws:

• • The failure to fully enforce the Duty to Serve (DTS) provision (16 years later) and the Manufactured Housing Improvement Act of 2000 (MHIA) (23+ years later) raises valid concerns.
  • Pushing for new legislation while existing laws remain underutilized may not be the most effective approach.
  • Prioritizing enforcement of existing laws can have a more immediate impact on affordability and access to manufactured housing. …”

Copilot also noted these points.

Email Transparency:

• • MHI’s practice of rarely publishing their own emails limits stakeholders’ ability to scrutinize their communication.
  • In contrast, the Manufactured Housing Association for Regulatory Reform (MHARR) routinely publishes their emails, allowing for transparency and accountability.

Selective Memory Hole Approach:

• • MHI’s periodic website updates, content removal, and lack of historical context can indeed reflect poorly on their performance.
  • The absence of critical terms like “enhanced preemption” or former leaders’ names raises concerns about transparency and consistency.

The steady exposure of MHI’s methods are apparently having a collective effect on Bing’s AI powered Copilot’s view of MHI and its questionable if not arguably corrupt and conflicted work product. For the context of the above, including more evidence and rather embarrassing points for MHI-insiders uncovered, see the new report linked here.

10) If good existing federal laws with respect to HUD Code manufactured housing were being properly enforced, then these issues could be rapidly mitigated. That’s an apparent conclusion from Copilot. Cavco’s Boor has said as much. That would benefit affordable housing seeking consumers, and thus the manufactured housing industry at large. Who said? Among others, Cavco President and CEO, William “Bill” Boor in his testimony to the U.S. House last summer. Boor, then vice chairman of the Manufactured Housing Insitute (MHI) and now chairman of MHI, specifically told Congress that HUD needed to constituently enforce the Manufactured Housing Improvement Act of 2000 (a.k.a. MHIA, 2000 Reform Act, 2000 Reform Law, etc.).  On that point, Boor was arguably correct.  Boor said “HUD must strengthen [federal manufactured housing] preemption enforcement” under the MHIA or 2000 Reform Law. Note that at the time, the 15-month industry downturn hand not yet ended.  New data published by the Manufactured Housing Association for Regulatory Reform (MHARR) reveals that the manufactured housing industry has now officially had three months of an upward trend in production.

11) But among the oddities in the known facts about manufactured housing industry advocacy by MHI is this. MHI has praised the plan offered by self-described New Democrats, when that plan failed to address the very thing that now-MHI chairman Boor said was needed. Namely, consistent enforcement of enhanced preemption under the MHIA. Boor said that HUD need to “respond promptly and definitively” whenever localities violate preemption (see full text and context in the report linked above). That is entirely missing in the New Democrat Coalition “Housing Action Plan.”

12) Such disconnects by MHI leaders don’t end with the endorsement or “applauds” of the so-called housing action plan released by the New Democratic Coalition.

MHI has since formally joined with the competitors of manufactured housing in the conventional housing market in signing onto support policies and bills that benefit the manufactured home industry’s competitors.  That is done even though the current laws have demonstrably failed to be properly enforced, as various MHI leaders have themselves said.

13) The lack of consistency or logic in MHI’s bobbing and weaving positions is starting.  See the report linked above to learn more, as it includes the full text of the letter to Congress that MHI has signed onto along with conventional housing advocates. That letter includes requests for subsidies for conventional housing that curiously make conventional housing more affordable, which would seem to undermine manufactured housing production. Where did the almost influential MHI CEO Lesli Gooch get her Ph.D. from, a cereal box? The apparent conflicts of interest committed by Gooch previously documented by MHProNews with respect to her involvement with conventional housing interests appears to be ongoing.

14) Amid all of these curious, odd, inept, self-contradictory, or potentially corrupt behaviors, enter into the picture the insider selling at Cavco Industries.

Part II – Cavco and Insider Selling and Trades 

Cavco Industries Chief Accounting Officer (CAO) Paul Bigbee has been selling shares of Cavco Industries (CVCO), according to market tracking news sites such as MarketBeat, Defense World and others. But before the recent sale of shares by Bigbee, Steven Bunger, a director at Cavco Industries Inc, recently sold thousands of shares too. While there are institutional buyers that more than made up for those sales, which will also be shown in this segment of this report, it does raise questions for some about Cavco’s share value. Do insiders know something that is causing concerns? As this report will note, the bulk of the value of Cavco’s stock is not held by management, but is rather held by investors, particularly institutional investors. Given that Cavco is led by William “Bill” Boor, who is currently the chairman of the Manufactured Housing Institute (MHI), other questions arise from what follows.

In response to an inquiry from MHProNews, left-leaning Bing’s artificial intelligence (AI) powered Copilot search/chat tool provided the following information.

1)

Insider Selling at Cavco Industries

Certainly! Let’s delve into the recent insider selling activity at Cavco Industries Inc (CVCO).

Steven Bunger, a director at Cavco Industries Inc, recently sold 4,000 shares of the company’s stock according to the latest SEC filings. This transaction took place on November 15, 2023¹. As a member of the company’s board of directors, Bunger has access to insider information that could influence his decisions to buy or sell company stock. His trading activities are closely watched by investors seeking insights into the company’s prospects.

Here are some key points about Cavco Industries Inc:

• Business Overview: Cavco Industries Inc is a prominent player in the manufacturing of housing products. Their product lineup includes manufactured homes, modular homes, park model RVs, commercial structures, and vacation cabins. The company is known for its quality and innovation in factory-built housing.
• Insider Trading Analysis: Over the past year, Steven Bunger has sold a total of 4,000 shares and has not made any purchases. This one-sided activity could suggest that he perceives the stock’s current price as favorable for selling. However, it’s essential to note that the broader insider transaction history for Cavco Industries Inc shows a lack of insider buys during the same period, with a total of 3 insider sells. This trend might raise questions about insiders’ confidence in the company’s near-term growth prospects or valuation.
• Stock Valuation: On the day of Bunger’s recent sale, Cavco Industries Inc’s shares were trading at $292.79, giving the company a market capitalization of $2.382 billion. The price-earnings ratio stood at 12.95, which is higher than the industry median of 8.69 but lower than the company’s historical median price-earnings ratio. This mixed signal suggests that while the stock may be priced higher than its industry peers, it could still be undervalued compared to its own historical standards. Additionally, the price-to-GF-Value ratio of 0.87 indicates that Cavco Industries Inc is modestly undervalued based on its GF Value of $337.69².

In summary, Steven Bunger’s recent insider selling activity has caught the attention of investors, and it’s essential to keep an eye on further developments. As always, investors should consider multiple factors when evaluating a stock, including financial performance, industry trends, and overall market conditions³⁴⁵. If you have any more questions or need further information, feel free to ask! …”

2)

While useful, the above is arguably incomplete. Consider the following from market tracking news source, Defense World, in a report dated 5.3.2024.

Yousif Capital Management LLC reduced its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO – Free Report) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,121 shares of the construction company’s stock after selling 145 shares during the period. Yousif Capital Management LLC’s holdings in Cavco Industries were worth $1,428,000 at the end of the most recent quarter.”

Insider Activity at Cavco Industries

In other Cavco Industries news, CAO Paul Bigbee sold 262 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $367.13, for a total transaction of $96,188.06. Following the transaction, the chief accounting officer now owns 766 shares of the company’s stock, valued at $281,221.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Paul Bigbee sold 262 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $367.13, for a total transaction of $96,188.06. Following the completion of the sale, the chief accounting officer now directly owns 766 shares in the company, valued at $281,221.58. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Matthew A. Nino sold 2,357 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $360.00, for a total transaction of $848,520.00. Following the completion of the transaction, the insider now owns 1,248 shares in the company, valued at $449,280. The disclosure for this sale can be found here. Insiders own 1.73% of the company’s stock.”

Cavco Industries Trading Up 1.9 %

CVCO opened at $372.02 on Friday. Cavco Industries, Inc. has a twelve month low of $233.84 and a twelve month high of $400.99. The firm has a market capitalization of $3.11 billion, a PE ratio of 18.87 and a beta of 1.16. The firm’s 50-day moving average price is $374.27 and its 200 day moving average price is $332.57.

Cavco Industries (NASDAQ:CVCO – Get Free Report) last released its earnings results on Friday, February 2nd. The construction company reported $4.27 earnings per share for the quarter, missing analysts’ consensus estimates of $4.36 by ($0.09). The business had revenue of $446.77 million during the quarter, compared to analysts’ expectations of $428.40 million. Cavco Industries had a return on equity of 17.00% and a net margin of 9.25%. During the same period last year, the business earned $6.66 earnings per share. As a group, analysts predict that Cavco Industries, Inc. will post 19.46 earnings per share for the current fiscal year.”

Cavco Industries, Inc designs, produces, and retails factory-built homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its factory-built homes under the Cavco, Fleetwood, Palm Harbor, Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood, MidCountry, and Solitaire brands.”

3) Per MarketBeat, here is the trading of Cavco’s equities by institutional investors. So, unlike fellow MHI member Legacy Housing (LEGH), Cavco’s corporate leadership has very little stake in the company. Insider Trades is one of two sources that reports that 95.56% of Cavco’s shares are held by institutional investors.

Per Copilot.

As of the latest available information, 95.56% of Cavco Industries (CVCO) stocks are held by institutional investors¹. Some of the major institutional shareholders include:

1. New York State Teachers Retirement System: Holds 2,686 shares (0.032% of the portfolio).
2. Cascade Investment Advisors Inc.: Holds 3,961 shares (0.047% of the portfolio).
3. Assenagon Asset Management S.A.: Holds 23,594 shares (0.283% of the portfolio).
4. Louisiana State Employees Retirement System: Holds 3,800 shares (0.046% of the portfolio).
5. Hunter Perkins Capital Management LLC: Holds 1,975 shares (0.024% of the portfolio).

Additionally, 196 institutional investors have purchased Cavco Industries stock in the last 24 months. The largest institutional buyers include American Century Companies Inc., Pacer Advisors Inc., Neumeier Poma Investment Counsel LLC, Norges Bank, William Blair Investment Management LLC, UBS Group AG, and Boston Trust Walden Corp². These investors collectively hold a significant ownership stake in the company.

On the selling side, institutional investors have sold a total of 1,070,218 shares in the last 24 months, representing approximately $292.42 million in transactions². Keep in mind that these numbers are subject to change over time, so it’s essential to stay updated with the latest data if you’re closely monitoring the stock.

Please note that this information is based on publicly available data, and I recommend checking official financial reports or consulting with a financial advisor for the most up-to-date details on institutional ownership of Cavco Industries stock. 📈👍…”

4) Not specifically named by Copilot in the above are the following private equity giants covered in the recent report linked below.

5)

How much of stake does BlackRock, Vanguard, and State Street have in Cavco industries stock and as of what dates?

6)  There are updates warranted on the pending litigation involving evidence-based allegations of antitrust violations against several other MHI members.  So, it isn’t just Cavco, but there appears to be a pattern of questionable legal and ethical issues involving numbers of rather high profile MHI members.  Some MHI members have directly or indirectly called out MHI’s own problematic advocacy.

Part III – Additional Information with More MHProNews Analysis and Focused Commentary

1) Yellen’s remarks to Congress ought to treated as yet another piece of evidence why manufactured housing ought to be soaring. While the industry’s total production is on the rise, it is nowhere its historic norms.

2) While MHI’s behavior and statements are often self-contradictory, and once the ‘Illusory effects‘ and purported tactics are accounted for, some 20 years of problematic behavior in the 21st century begins to come into focus. By contrast, MHARR has boiled down the issues facing the industry to what it has referred to as three bottlenecks.

3) As MHProNews has carefully documented for regular industry readers in recent years, there is an evidence-based case to be made that many media outlets are not so much dealing in completely false information, but are rather accurately providing half-truths, paltering, or other forms of what the Capital Research Center has aptly called “deception and misdirection.” It isn’t just alternative media that have made such allegations, which have also been stressed by several insiders from 3 letter networks, major media brands, researchers, and others. The evidence is extensive. The evidence is therefore troubling. Anyone who accepts a corporate media report at face value without seeking additional insights on an important topic are likely to be getting less than the full picture.

4) It is often not just ‘left wing bias,’ as common as that may be at some media outlets, Wikipedia, search engines, or Bing.  That bias among big tech has been confirmed by self-described Democrats that include Dr. Robert Epstein in research and comments to Congress. But it is also a kind of corporate bias.

5) MHProNews has periodically informed industry readers, researchers, investors, public officials, and others of the evidence for these trends because clarity of understanding is necessary in order to affect an actual solution to the affordable housing crisis that can work. Primary elections are ongoing, and the general election is just 6 months out, with early voting in many states coming weeks before “Election Day” on Tuesday, November 5, 2024.

Some Republicans are at least periodically part of the problem. “Establishment Republicans” are what “America First” or “MAGA” Republicans call members of the Uniparty, the ‘donor class,’ the “Deep State,” the Blob, “the Washington [D.C.] Establishment” or any number of expressions meant to convey the control that a relatively few have over the system. That influence is possible because the elites either own or have sway with much of the big national media outlets. Again, see Shadows of Liberty and other reports linked herein for more evidence of those concerns. Note that the evidence routinely comes from insiders in media.

6) There are those who make it sound like voting no longer matters, because the ‘elites’ control so much information, have so much money, have so much influence in government, and so on. While there may seem to be some grains of truth, it is also apparent that the financial elite that dominate elements of U.S. society are going through elaborate and costly machinations precisely because they feel the need to keep the masses divided, confused, and thus less able to resist. But giving up is fine with the so-called elites and insiders. The solution is to gain and maintain understanding and use that understanding to vote wisely in an effort to unseat the political front-people and their cronies in the administrative state.

7) Let’s put it this way. If bureaucrats were doing their jobs consistently and properly, there would be less reliance on MHI to ‘do the right thing.’  If HUD, DOE, the FHFA, etc. were properly implementing existing laws, the industry would be soaring. It is precisely because there is a lack of such proper implementation by federal officials, and the apparently two-faced and often duplicitous behavior at MHI, that MHARR exists. Is it any wonder that MHI aligned bloggers and trade media routinely fail to mention MHARR at all? Yet, MHARR has been an important fixture in manufactured housing for approaching 40 years.  The fact that MHARR’s website mentions MHI directly or by implication is contrasted by MHI’s utter lack of mention of MHARR, even though prior to the last two iterations of their website, MHARR was referenced by MHI.

8) More bluntly, information warfare is in vogue in modern America. Withholding information that is significant or important can be a key method of manipulation. That can be stated in a matter of seconds, but it takes time to lay out the facts that demonstrate that reality. As actor-activist Danny Glover put it, “It’s not only a monopoly of wealth; it’s a monopoly of information as well.”

But if you do a Google search for that phrase: “It’s not only a monopoly of wealth; it’s a monopoly of information as well” note the result on this date.

8) One need not agree with leftist Noam Chomsky on everything to agree with him that there is an ongoing effort to “manufacturer consent.” That manufacturing of consent is fostered by information manipulation.

9) To sum up. Cavco ought to be growing by leaps and bounds during an affordable housing crisis, as should most other manufactured housing producers at MHI, MHARR, or those independent of either of those organizations. But that growth is not the case, despite the kinds of insights Yellen and other facts presented herein evidence. The powers that be in charge of the federal government are routinely Democrats, who claim to champion the cause of minorities and those with less income. But the facts reveal that they are routinely in the pockets of big corporate business interests.  They posture their traditional claim while performing on behalf of the donor class.  Republicans are hardly united, but there is a battle within that party to become a party of the working class, middle class, retirees, and those who are not owned by the Donor Class.

10) There are signs that a ‘great awakening’ is underway. If so, this could be a wave election if those who hate the status quo actually turn out and vote wisely. That is precisely what the donor class is seeking to avoid. Meanwhile the affordable housing crisis, which Biden-Harris and the Democrats could solve by properly implementing exist laws continues to drag on and get worse under Democratic rule.

Programming notes. MHProNews has several pending reports that have been delayed by other emerging topics. Watch for updates on new production numbers, antitrust and DOE litigation, and more corporate specific insights.  Thanks to all who make this possible – including our readers – for making and keeping us the runaway largest and most popular source for industry news, tips, and views pros can use.  The markets update follows.

Part IV – 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 – 5.3.2024

• Stocks close higher after softer-than-expected jobs report fuels hopes of an earlier rate cut
• The headquarters of the U.S. Securities and Exchange Commission (SEC) is seen in Washington, D.C., U.S., May 12, 2021. Picture taken May 12, 2021.
• Trump Media’s accounting firm charged with ‘massive fraud’
• US job market shows signs of cooling, with just 175,000 jobs added in April
• NYPD officers stand near barriers as pro-Palestinian protesters gather outside of Columbia University in New York City on April 18, 2024. Officers cleared out a pro-Palestinian campus demonstration on April 18, a day after university officials testified about anti-Semitism before Congress. Leaders of Columbia University defended the prestigious New York school’s efforts to combat anti-Semitism on campus at a fiery congressional hearing on April 17.
• Columbia’s administrators failed crisis management 101
• The cargo ship Dali seen trapped under the remains of the Francis Scott Key Bridge, after the vessel hit one of its pillars on March 29, 2024 in Baltimore, Maryland.
• The company that rebuilt Genoa bridge is offering to do the same for Baltimore
• A shopper walks past a closed Rue 21 store in the re-opened Anderson Mall in Anderson, South Carolina, on Friday, April 24, 2020. After rescinding an April 3 executive order, Governor Henry McMaster set the stage for clothing, department, furniture, jewelry and sporting goods stores to reopen their doors to customers.
• Rue21, a mall staple, files for bankruptcy and will close all of its stores
• Google Headquarters is seen in Mountain View, California, United States on May 15, 2023.
• What’s at stake in the Google antitrust case? Billions of dollars (and the way we use the internet)
• Jobseekers and representatives at a job fair at Brunswick Community College in Bolivia, North Carolina, US, on Thursday, April 11, 2024.
• The US economy added just 175,000 jobs last month and unemployment rose to 3.9%
• Thousands of new vehicles brought to Turkey pass through Haydarpaşa port on April 16, 2024 in Istanbul, Turkey. Haydarpaşa port is the opening gate of Turkey.
• Turkey halts trade with Israel over Gaza war
• Red Lobster has struggled and reportedly is considering a bankruptcy filing.
• What went wrong at Red Lobster
• Patience wears thin at ABC News as frustrated staffers wonder when Disney will make leadership changes
• Boeing has lost $32 billion since 2019, with no end in sight. How long can it keep losing money?
• Restaurants are competing for frugal diners’ dollars
• Truth Social keeps shrinking despite the Trump trial and looming election
• Strawberry shortcake and foreign travel: How the yen’s record slump is squeezing the Japanese
• Russia’s Gazprom posts first annual loss in 20 years as sales to Europe collapse
• American oil tycoon accused of trying to conspire with OPEC to inflate prices
• Eight tons of ground beef sold at Walmart locations nationwide recalled for possible E. coli contamination
• Apple plans record $110 billion share buyback amid challenging earnings report
• In surprise move, Musk axes the team building Tesla’s EV charging network
• Maryland is about to get $350 million from insurance in bridge collapse
• What to expect in Friday’s jobs report
• Peloton cuts jobs and is looking for a new CEO after its turnaround plan spins out

Note: to expand this image below to a larger or full size, see the instructions

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

 

Headlines from right-of-center Newsmax – 5.3.2024

• Young Dems Prodding President Biden to Alter Course on Gaza
• “He will lose the election if he decides to roll the dice and assumes that Gaza isn’t at the top of minds right now,” Elise Joshi, the executive director of Gen-Z for Change — once called TikTok for Biden — told The Hill. [Full Story]
• Related Stories
• Bernie Sanders: Israel Support Could Be Biden’s Vietnam
• Israel at War
• Arrests of Campus Protesters Top 2,300
• UN Agency: Rafah Incursion Would Put Many Lives at Risk
• Harvard Poll: 8 in 10 Americans Support Israel in War
• Schumer, Johnson to Invite Netanyahu to Address Congress
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Note: to expand this image below to a larger or full size, see the instructions
below the graphic below or click the image and follow the prompts.

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.