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Facebook’s “Network Effect – Value Destruction,” Password Scandal Latest Headache, plus MH Market Updates

March 21st, 2019 No comments

CNNmone3.21.2019ManufacturedHomeStocksMarketsReportsMHProNewsA couple of billion folks globally use Facebook (FB) globally, hundreds of millions of them right here in the U.S.A. Manufactured housing and other marketers often use FB, as do politicos, or the latest crazed killer – anyone trying to get the word out – on whatever.  Voices on the left and right are already gunning for Facebook for antitrust, privacy, bias, censorship, and a range of issues.  They are certainly not alone, but the reveal today is that some 600 million passwords were unprotected.  That suggests once more a lax attitude about user privacy, says an expert in our spotlight report this evening.  On a day that markets largely rose, Facebook – the F in the FAANG stocks – will be our focus for this evening.

 

If you’re new, already hooked on our new spotlight feature – or are ready to get the MH professional fever – our headline report is found further belowafter the newsmaker bullets and major indexes closing tickers.

 

The evolving Daily Business News market report sets the manufactured home industry’s stocks in the broader context of the overall markets.  Headlines – at home and abroad – often move the markets.  So, this is an example of “News through the lens of manufactured homes, and factory-built housing.” ©

Part of this unique evening feature provides headlines – from both sides of the left-right media divide – which saves busy readers time, while underscoring topics that may be moving investors, which in turn move the markets.

Readers say this is also a useful quick-review tool that saves researchers time in getting a handle of the manufactured housing industry, through the lens of publicly-traded stocks connected with the manufactured home industry.

This is an exclusive evening or nightly example of MH “Industry News, Tips and Views, Pros Can Use.” © It is fascinating to see just how similar, and different, these two lists of headlines can be.

Want to know more about the left-right media divide from third party research?  ICYMI – for those not familiar with the “Full Measure,” ‘left-center-right’ media chart, please click here.

 

Select bullets from CNN Money…

  • Another privacy scandal rocks Facebook
  • Facebook reveals its staff had access to hundreds of millions of user passwords
  • ANALYSIS Tech companies must evolve to survive
  • Levi’s CEO: Don’t put your jeans in the freezer
  • Business and labor unions say the UK is facing a ‘national emergency’
  • LIVE UPDATES Apple carries Wall Street sharply higher
  • Justice Dept. issues subpoenas in criminal investigation of Boeing
  • Biogen stock plunges 28% after promising Alzheimer’s drug trial ends
  • Wall Street’s fee wars have entered the ‘silly stage’
  • Etihad Airways is struggling. Is it time to merge with Emirates?
  • Pensions are disappearing. The government just made it easier for employers to get rid of them
  • Tencent profit plunges 32% but its gaming business is recovering
  • Starbucks shareholders voted against a diversity policy. It’s not what you think
  • Ferrari and Lamborghini say ‘not so fast’ on electric supercars
  • America imported no oil from Venezuela last week. Here’s why that’s a big deal
  • Alexandria Ocasio-Cortez, ‘second most talked-about politician in America,’ graces Time cover
  • Olive Garden owner post solid jump in sales
  • General Mills raised prices on yogurt and cereal. It’s working
  • Nine West exits bankruptcy and gives itself a new name
  • Behind Olive Garden’s huge comeback
  • This is DSW’s plan to save itself
  • Why big retailers are getting smaller
  • Levi Strauss has returned to life as it IPOs after more than 30 years
  • Guess plunges on the same day of its rival’s IPO debut
  • Shares of Levi Strauss soar 30% in IPO
  • What Old Navy’s spinoff says about our cheap clothing addiction
  • Levi’s wants to be more than a jeans company, so it’s going public
  • This fashion giant is under siege by imitators. Here’s why it’s legal

Select Bullets from Fox Business

  • CVS starts selling CBD-infused products in 8 states
  • WATCH: Why some Ford SUV owners are complaining of headaches
  • Stocks close up on technology, consumer goods strength
  • Ocasio-Cortez’s 70 percent tax plan: The likelihood of higher taxes and what it means for your retirement
  • These jobs aren’t worth the cost of their degrees
  • Ocasio-Cortez hits back at Jamie Dimon after Green New Deal criticism
  • Powerball $625M lottery jackpot: Here’s the tax damage
  • White House, corporate America flood Congress in USMCA push
  • WATCH: Blue collar jobs, wages ‘skyrocketing,’ White House economic adviser says
  • Millions of Facebook user passwords were accessible to employees
  • Obama border patrol chief: Border crisis ‘absolutely’ a national emergency
  • New Zealand firearm ban: Which guns to be permitted?
  • Jack Keane: Trump deserves credit for defeating ISIS in Syria
  • Treasury changes lump-sum pension buyout rules: What it means for workers, retirees
  • Boeing’s troubles grow as Congress, regulators pounce
  • Trump exec order to hold colleges accountable for student loan debt, free speech
  • World’s most expensive city in 2019 is a 3-way tie
  • Biogen’s stock craters on Alzheimer’s drug failure
  • Disney-Fox merger could cause thousands of layoffs
  • March Madness: Uber Eats offers free food for any ‘Cinderella’ upset
  • After two jury losses, Bayer’s Roundup heads back to court with 11,200 lawsuits pending

Today’s markets and stocks, at the closing bell…

9MarketIndicatorsYahooFinance3.21.2019DailyBusinessNeawsManufacturedHousingIndustryStocksMarketsReportsDataMHProNews

 

Today’s Big Movers

For all the scores and highlights on tracked manufactured home connected stocks today, see thBloomberg graphic, posted below.

Today’s MH Market Spotlight Report –

FacebooksNetworkEffectValueDestructionPasswordScandalLatestHeadachePlusMHMarketUpdates

First, some headlines and a pull quotes from CNBC, followed by some analysis beyond what that source’s panel discussion reflected.

 

Facebook employees had access to millions of user passwords

·        The company releases a statement Thursday saying it would be notifying those affected in the near future.

·        The incident may have affected between 200 million and 600 million customers and has been ongoing since 2012, according to the report by cybersecurity journalist Brian Krebs.

·        As part of a routine security review in January, we found that some user passwords were being stored in a readable format within our internal data storage systems,” Facebook said in a statement. “This caught our attention because our login systems are designed to mask passwords using techniques that make them unreadable. We have fixed these issues and as a precaution we will be notifying everyone whose passwords we have found were stored in this way.”

·        Facebook, however, has been under intense scrutiny due to several years of privacy and security scandals that have earned the company criticism from customers and inquiries and fines from several regulatory agencies, particularly in the European Union.

·        But Facebook’s scandals haven’t significantly dented the company’s count of active daily users, which rose last quarter despite an extended social media campaign by Facebook critics encouraging privacy-minded customers to delete their accounts.

FacebookMarketTrendYoYMarch212019DailyBusinessNewsMHProNews

What’s Ahead?

Senator Elizabeth Warren and 2020 Democratic presidential hopeful said that she favors a breakup of the company, but she also claimed that doing so would not impact users experience.

President Donald J. Trump and his 2020 campaign manager, Brad Parscale have both blasted Facebook for bias. But it is also true that recent reports reveal that the Trump campaign has done more ad buys on Facebook recently than all other Democratic candidates in the 2020 race so far. But that dynamic may change, as the number of declared Democrats swell, along with millions in the campaign coffers of some of them.

The risk from Facebook and the other FAANGs is multiple layered.  They include, but are not limited to:

·        Market power, squeezing out a growing number of publishers, as FB and Google most notably dominate the ad market.

·        Their ability to influence or even control the narrative on political issues.  The Creepy Line video documentary featured on MHProNews last year went into depth on that topic.

·        As Amazon is demonstrating, these giants can get into other industries. 

·        The risk from monopolization of the marketplace is significant.

The E.U. just levied another $1.7 billion-dollar fine on Google.  That’s a cost of doing business for them, but would represent nearly 20 percent of the value of all of manufactured housing’s retail sales in 2018.

#OpenMarkets, and #DeFaangBM are important themes for long-term players in manufactured housing to consider. The U.S. has historically taken antitrust seriously. While interest in antitrust is arguably up on both sides of the political aisle, it remains to be seen just how aggressive the Trump Administration, the GOP, or Democrats will actually be in the face of some of the most powerful corporations on the planet, which includes Facebook. 

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Federalist’s Harsanyi Argues Senator “Elizabeth Warren’s Plan to Break Up Big Tech Would Be Bad for America”

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Bloomberg Closing Ticker for MHProNews…

NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services.

NOTE: The chart below covers a number of stocks NOT reflected in the Yahoo MHCV, shown above.

NOTE: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).

3.21.2019DailyBusinessNewsManufacturedHousingConnectedMarketReportsBloombergMHProNews

 

Berkshire Hathaway is the parent company to Clayton Homes21st Mortgage, Vanderbilt Mortgage and other factory built housing industry suppliers.

LCI Industries, Patrick, UFPI and LP all supply manufactured housing.

AMG, CG and TAVFX have investments in manufactured housing related businesses.

Your link to industry praise for our coverage, is found here.

For the examples of our kudos linked above…plus well over 1,000 positive, public comments, we say – “Thank You for your vote of confidence.”

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsWe Provide, You Decide.” © ## (News, analysis and commentary.)

(Image credits and information are as shown above, and when provided by third parties, are shared under fair use guidelines.)

Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.

To submit a news tip, please click here: iReportMHNewsTips@MHMSM.com


HUD Secretary Carson “HUDdle Conference” Draws Manufactured Housing Issues Engagement

March 21st, 2019 No comments

HUDSecretaryBenCarsonHUDdleCOnferenceDrawsManufacturedHousingIssuesEngagementDailyBusinessNewsMHProNews

The Daily Business News on MHProNews learned that the Department of Housing and Urban Development (HUD) Secretary Ben Carson, M.D., kicked off their latest ‘HUDle’ meeting at their Washington, D.C. office building.

 

In a statement to MHProNews, here is what the Manufactured Housing Association for Regulatory Reform (MHARR) said today.

MarkWeissJDPresidentCEOManufacturedHousingAssocRegulatoryReformDailyBusinessNewsMHProNewsThe Department of Housing and Urban Development, on March 20, 2019, held the latest in a series of “HUDdle” conferences with invited HUD-program stakeholders.  The conferences, which are an initiative of — and hosted by — HUD Secretary Ben Carson, focus on emerging issues at the Department, including, but not limited to, aspects of its ongoing regulatory reform process,” MHARR said.

Among the manufactured home industry professionals present was Mark Weiss, JD.  Weiss is the president and CEO of MHARR.

MHARR’s president emphasized the urgent need for HUD to address and resolve two key issues that continue to suppress the availability of inherently affordable manufactured housing for millions of American consumers, and the economic growth of the industry,” per their statement, which added, “Those two issues are, first, discriminatory zoning laws that exclude or severely restrict the placement of manufactured homes in large areas of the country.  The second is the critical need for reform at Fannie Mae, Freddie Mac and the Federal Housing Administration (under the “Duty to Serve” and beyond), to substantially increase the availability of manufactured home consumer financing (and especially personal property or ‘chattel’ financing) to market-significant levels.”

 

MHARR stated that they will be following-up soon with relevant HUD officials to further pursue these key policy objectives.

 

The issues come in the wake of fact-checks and related exposes by MHProNews, which included specific examples of the post-production Manufactured Housing Institute (MHI) was routinely failing to address specific cases spot-checked by MHProNews. Here accessible via the linked text-image box is but one example. Others follow below the byline, disclaimers, and notices.

 

MHI’s Growth Agenda? Rick Robinson, JD, SVP Manufactured Housing Institute, Preemption Evidence, Writ of Mandamus, and Addressing HUD Code Manufactured Home Shipment Woes

 

Placement and financing are post-production, not production related issue, so they fall into MHI’s self-proclaimed bucket of representing “all segments of factory-built housing.”  Topics like this and others will be among the issues addressed at the rapidly approaching “Fix the MH Industry Trick$” meeting a week from today Thursday afternoon at the Tunica Manufactured Housing Show.

That’s this afternoon’s manufactured housing industry “News, Tips, and Views Pros Can Use” © where “We Provide, You Decide.” © ## (News, analysis, and commentary.)

 

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To report a news tip, click the image above or send an email to iReportMHNewsTips@mhmsm.com – To help us spot your message in our volume of email, please put the words NEWS TIP in the subject line.

NOTICE: You can get our ‘read-hot’ industry-leading emailed headline news updates, at this link here. You can join the scores who follow us on Twitter at this link. Connect on LinkedIn here.

NOTICE 2: Readers have periodically reported that they are getting a better experience when reading MHProNews on the Microsoft Edge, or Apple Safari browser than with Google’s Chrome browser. Chrome reportedly manipulates the content of a page more than the other two browsers do.

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2) To pro-vide a News Tips and/or Commentary, click the link to the left. Please note if comments are on-or-off the record, thank you.

3) Marketing, Web, Video, Consulting, Recruiting and Training Re-sources

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

 

 

Related Reports:

You can click on the image/text boxes to learn more about that topic.

As Affordable Housing Crisis Rages, New HUD Code Manufactured Housing Shipments Fall, Some States Drop 35-40 Percent

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Smile! You’re on Candid Camera! Security, Casino Hotels, and Fix the MH Trick$ Tunica Event

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HUD Code Manufactured Home Production Decline Persists – Time For Action Not Excuses

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“The Illusion of Motion Versus Real-World Challenges”

 

 

 

 

 

 

 

 

 

To submit a news tip, please click here: iReportMHNewsTips@MHMSM.com


Smile! You’re on Candid Camera! Security, Casino Hotels, and Fix the MH Trick$ Tunica Event

March 21st, 2019 No comments

 

SmileYourOnCandidCameraSecuirtyCasinoHotelsFixMHTricksTunicaManufacturedHousingShowEventDailyBusinessNewsMHproNews

Relax. Smile. Have no fear. Be at peace.  Among the safest places a civilian in the U.S. can be is at a hotel casino, where security cameras abound. They are supported by armed security, who may be plain clothes as well as uniformed. Then there are local police or other law enforcement backup, who have drilled for the ever-so-rare worse case events.

 

So, perhaps the best place on earth to have the Tunica Show in terms of security is at a hotel casino. There is an array of video cameras outdoors. They are positioned to spot license plates, as well as people who are exiting and entering vehicles or the property on foot.

The casino hotels themselves are a sophisticated array of surveillance video cameras. They are monitored by professionals looking for illicit, unwanted, potentially dangerous, or illegal behavior.

If Warren Buffett, Bill Gates, Kevin Clayton, Tim Williams, and the cast from the Manufactured Housing Institute (MHI) had hired Made to write the script, they could not have done a whole lot better.

This is where the discussion and planning of next steps – to form a post-production group or alliance that will work for actual, rapid growth for independents -will occur next week. If you are among those who have yearned for growth, positive and profitable change, then modify your plans to stay longer or go to Tunica.

There is only one place where in the U.S. where you can be to witness and make manufactured home industry history.

 

 

Stop the Fear, Frustration, and Artificially Low Results that Costs Manufactured Housing Billions a Year

Let’s be clear. There are a variety of things that occur weekly that have no direct cause by Omaha-Knoxville-Arlington and their allies. But there are some that do.

But as important is that many things that do occur that beg for a robust post-production trade group to respond, routinely get little or no useful rejoinder from the so-called powers that be.  So, it isn’t just actions, it is purported inaction on issues like zoning, placement, unfair or biased media reports, etc. that is slowing the industry’s recovery during an affordable housing crisis. 8.3 million housing units are needed, said the National Association of Realtors in 2018.  Only building millions of new homes can achieve that goal.

So improper action or inaction both matter.

That arguably leads to billions of dollars a year in lost sales.  Inaction or flawed actions also debatably harms the resale value of existing manufactured home owners too.  That has a spill-over effect back into sales.  And thus the vicious cycle goes on.

Which is why the cycle must be stopped by a new path, instead of continuing to run the old one.

 

Numerous, On the Record Statements

The Daily Business News on MHProNews will echo the complaints and observations of pros like the following.

 

  • Neal Haney – Community owner and co-founder of the National Association of Manufactured Housing Community Owners. They broke ties with MHI over lack of performance.
  • Bob Crawford – award winning retailer at Dick Moore Housing who said that MHI deserves about 5 out of 10 on performance.
  • Kenny Lipschutz– MHI member and community owner, click his name to see what he said.
  • Frank Rolfe– who with his partner Dave Reynolds and their associates – are one of the top 5 community owners by site, who repeatedly blasted MHI for failures to respond to good or bad news.
  • Jason Boehlert – Past MHI VP of Government Relations, click his name to see what he said as MHI was spending millions of dollars for years chasing a bill that had no chance, and never passed.
  • Ishbel Dickens, JD, then with NMHOA, who told MHProNews and others that the MLO rule could have been achieved by negotiation. Ironically, Nathan Smith and others in MHI confirmed what Dickens said, albeit obliquely in Smith’s case.
  • Paul Baretto with Fannie Mae – who in response to a public question posed by MHProNews at Tunica in front of dozens of industry professionals admitted that the Berkshire Hathaway brands of 21st Mortgage Corp and Vanderbilt Mortgage and Finance (VMF) provided the GSEs with no data.
  • Marty Lavin, JD, former MHI award winner who said this and this, both of which are applied to MHI.
  • Nathan Smith, prior MHI Chairman, current PAC Chairman, and SSK Community owner who was embroiled in a class action lawsuit with his own residents? Or who admitted that the association had often failed to act in a manner that would head off problems?
  • Tim Williams of 21st Mortgage, and then MHI Chairman who previously praised MHProNews, said for publication that there was “no daylight” between L. A. ‘Tony’ Kovach and MHI on Preserving Access, blasted the Democratic progressive agenda at an MHI meeting, and said that there was a good case to be made for responding to each and every negative media report. If so, then why has the Arlington, VA based association he led for years contradicted itself and Berkshire Hathaway Chairman Warren Buffett so often? Where they head fakes? Falsehoods?  Or was it the “Illusion of Motion” a phrase applied by Mark Weiss, JD, President and CEO of the independent producers group – the Manufactured Housing Association for Regulatory Reform (MHARR)?

 

And the list could go on and on, to include Richard ‘Dick’ Jennison, MHI President and CEO, who said that the industry could achieve 500,000 new HUD Code manufactured home sales, pledged to pass Preserving Access – which obviously never passed – and admitted on camera that the industry had at times failed. Ya think?

ManufacturedHomesAsPercentageofSinglefamilyHousingStartsDailyBusinessNewsMHProNewsSkylineChampionSKY780x943

 

As any clear-eyed reader can see, these voices are often currently or previously connected to MHI. Those mentioned above – other than Mark Weiss – often have no formal ties with the Manufactured Housing Association for Regulatory Reform (MHARR) or MHProNews.

One must ask, why is it that with so much clear evidence, that other state associations have not broken away from their affiliation with MHI?  According to multiple voices among those state association executives, it is fear for their jobs and/or fear of retaliation against their association. See how Gold Rules.

Then, why has other manufactured housing trade publishers not raised these same questions over and over?  Is it because they are getting paid by brands that favor the consolidating status quo?

Which leads us back to the reasons why MHProNews is the runaway most read in the industry. MHVillage’s MHI Insider helped prove that so, time and again.

It’s the truth that was hiding in plain sight. After 15 years of the Berkshire Hathaway era in manufactured housing, the industry is selling fewer homes today than it was before Buffett’s decision to buy Clayton Homes. These are facts and accurately quoted statements – plus documents and videos by 21st, Kevin Clayton, and Warren Buffett himself.

The industry has been led into a historically low lethargy and malaise. These are the allegations and concerns that the voices above and numerous others have raised.  Or recent attempts to strong-arm various independents that the so-called ‘Mobile Home Militia’ #MHM has publicly spotlighted.

These Industry Voices and examples are among the reasons to act. We are calling this the Fix the MH Industry Trick$ meeting.

  • In the first session, Omaha-Knoxville-Arlington and their attorneys will be given a public chance to respond at a moderated session open to industry members on Thursday March 28th, 2019 shortly after noon.
  • Then, in the second session without Clayton, MHI and their related lenders, there will be a discussion and organizational meeting focused on solutions including the formation of a post-production industry association that will do what MHI claims to have done, and has arguably failed for over 15 years.
  • The third session will be for independent producers of HUD Code homes, and will be open to MHI, MHARR and non-aligned manufactured home builders. ICYMI, the working plan is in the report linked below.

 

 

Fix MH Industry Trick$ – Special Meeting at Tunica Show

 

 

Peace of Mind, Profitable Action vs. Costly Inaction, Fear or Frustration 

For over two years, MHProNews’  leaders and backers have demonstrated that the best place to fight these forces is arguably in plain sight. Fact checks that we have published here have gone unchallenged.  Follow the evidence, and follow the money.  Our readership – which was already the industry’s largest more than doubled in one year-over-year timeframe, according to third party Webalizer.  Professionals want to know.

But more important, numbers of professionals see the need to take the next steps and act to break the grip of Omaha-Knoxville-Arlington.  Every key concern will be addressed in a public discussion, moderated and with questions and answer time.  There is no cost for attendees, sponsors and concerned industry members are paying for this event.

Note that it isn’t about huge numbers.  MHI, MHARR, the NCC, and NMHOA were started with modest numbers of organizations, and grew from there. It is about motivated professionals that want to see ethical, robust, profitable growth.

So, when you come to Tunica, you can come with your safety and that of others in mind.  You can come with growth and profits in mind.

 

Public Notice.

For our part, our team hereby states the following to cover this and all that will occur in Tunica next week.  This is said for the sake of the attorneys that work for MHI, Omaha, or Knoxville. While at Tunica, consider what is said an allegation if it mentions any third party, be it a person or entity. That said, at the Fix the MH Industry Trick$ event, we will present the evidence already outlined above of purported market rigging, improper if not illegal activities, and failures to act in the best interests of consumers and industry alike.

Omaha-Knoxville-Arlington paid for voices are invited to Fix the MH Industry Trick$ session 1, which will take place shortly after the normal closing time of the Tunica Show proper, so as to not interfere in any way with the paid exhibitors who make the event possible. That was done after discussion with Tunica Show management. This is all above board.

There will be other officials invited, beyond the industry’s members or select investors.

Why Investors? Because Robert Robotti was right in many ways about manufactured housing. He was right for the same business reasons as Sam Zell was. “When others are going left, look right,” said Zell. Robotti said that to outperform the market, you have to think like a contrarian.

So true.

 

We have not yet decided if we will invite a few officials for the first session from a peaceful resident group (not the arguably disruptive MHAction types). Why invite resident representatives? Because they collectively have billions of dollars at stake too. Market manipulation, including, but not limited to access to credit and financing, has harmed their interests too. Limiting consumers and current home owners choices to an openly Clayton retail or thinly veiled Clayton alternative has arguably harmed their interests, although that has rarely been discussed beyond the #OpenMarkets, Seattle Times, the Nation, MHLivingNews, or MHProNews voices.

There are 22 million who live in a pre-HUD Code mobile or manufactured home.  They should be allied with independent businesses, not in opposition, as is sometimes the case.  In a properly functioning industry and marketplace, the vast majority of those 22 million manufactured home owners and residents would be natural allies, as is true with the RV industry.

 

InfographicMobileManufacturedHomeManufacturedHousingIndustryFactsDataResearchMobileManufacturedHomeLivingNews

Published in 2018, with 2017 and other data.

 

The current scenario between resident groups and swaths of the industry is tragic. It is avoidable, but that clearly has not occurred under MHI leadership. So the new post-production trade group should have session one open to a few representatives. They have as much skin in the game of industry manipulation as the retail, community, producers and other independents and investors do.

So, there is potential value to having a few representatives on the consumer side of the manufactured home industry there. Let’s note that consumers can’t attend the Tunica trade show proper.  But by special arrangement, we are weighing the value of having a few come to Tunica, if they will invest in their own trip expenses, to observe session 1.

 

 

MHPros from Other Parts of the U.S.?

An industry trade show always offers surprising value, beyond homes, products, and services. The networking portions of the Tunica Show at hospitality lunches and breakfast can often result in random meetings and conversations that can provide insights that alone make the trip worthwhile.

And then this year, there is the special Thursday afternoon March 28th, shortly after noon opportunities for MH Industry pros to ask questions, and make brief comments at a moderated session, knowing that their security and that of their peers is going to be solid.

So smile. For those who may recall the old TV show, you are on Candid Camera. Whatever you say or do, could be historic.

Let’s close this column stating the obvious. Stating the obvious often brings clarity to issues.

If the industry doesn’t do something different, it will keep getting the same results. That’s the popular definition of insanity, to keep repeating the same things, the same ways, and somehow expect a different outcome.

ProblemSolvingZigZiglarFirstStepRecognizetheProblemExistsNextIsProblemOurResponsiblityProblemSolvingVeryImportantDailyBusinessNewsMHProNews

While a few are satisfied with the relatively low results that Omaha-Knoxville-Arlington have wrought for their own reasons, or perhaps because they compare recent results to the industry’s ostensibly artificially engineered bottom, that’s poverty thinking.

If you are going to be thinking anyway, said a billionaire business man with ties to factory-built housing, you might as well be thinking big.

Come and think big again at Tunica. Amazon’s Alexa Fund jumped into prefabricated factory-built housing last year. They did so after figuring out that an estimated $330 Billion is the annual market potential for factory home building. Meanwhile, HUD Code manufactured homes only did some $8 billion in 2018 at retail.

Do you see how far the upside could be?

If you are an independent and didn’t already have plans, make them now to come to Tunica. If you are already planning to be there, stay an extra half-day, and be part of making history.  Limited seating for our event, RSVP via an upcoming email to our email list. If you aren’t signed up for our emailed news updates, you can do so at this link here, or at the email banner ad, further below the byline.

That’s manufactured housing industry “News, Tips, and Views Pros Can Use” © where “We Provide, You Decide.” © ## (News, analysis, and commentary.)

 

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To report a news tip, click the image above or send an email to iReportMHNewsTips@mhmsm.com – To help us spot your message in our volume of email, please put the words NEWS TIP in the subject line.

NOTICE: You can get our ‘read-hot’ industry-leading emailed headline news updates, at this link here. You can join the scores who follow us on Twitter at this link. Connect on LinkedIn here.

NOTICE 2: Readers have periodically reported that they are getting a better experience when reading MHProNews on the Microsoft Edge, or Apple Safari browser than with Google’s Chrome browser. Chrome reportedly manipulates the content of a page more than the other two browsers do.

(Related Reports are further below. Third-party images and content are provided under fair use guidelines.)

1) To sign up in seconds for our MH Industry leading emailed news updates, click here.

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To see a sample of our emailed news update, click here. To sign up for the factory-built home industry’s #1 headline news, click here or the graphic above.

2) To pro-vide a News Tips and/or Commentary, click the link to the left. Please note if comments are on-or-off the record, thank you.

3) Marketing, Web, Video, Consulting, Recruiting and Training Re-sources

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

 

 

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Minnie Driver, Millionaires, and Billionaires – Debunking “Housing for the Poor” Image of Manufactured Housing

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To submit a news tip, please click here: iReportMHNewsTips@MHMSM.com


Ford’s Big Lead Dog, Teaches Manufactured Housing, Legal Q&A

March 20th, 2019 No comments

 

Ford'sBigLeadDogTeachesManufacturedHousingLegalQ-ADailyBusinessNewsMHProNews

If you’re not the lead dog, the scenery never changes,” said the Ford Motor Company on their Big [Lead] Dog commercial’s YouTube page.

 

Ford’s Big Lead Dog commercial comes in two lengths on YouTube.  One has had over 8.5 million views as of this date. That number is nearly equal to the total number of every pre-and-post HUD Code manufactured home in the U.S.

 

 

That 8.5 million views is above and beyond the tens of millions who’ve seen their videos on cable, satellite, steaming or broadcast TV.

 

 

MHProNews isn’t advocating a traditional TV campaign, not now anyway. The point here is more subtle.

Ford sponsored the Verge’s home of the future modular building videos too. They’ve collectively been viewed by millions.

 

FordTheVergeMillionsViewsHomesoftheFutureDailyBusinessNewsMHProNews

Ford sponsored these videos on modular home building. They’ve had millions of views collectively. Which begs the question. Berkshire Hathaway can afford the best of everything for their business units. Why aren’t they doing all that it takes to do videos, education, and marketing that actually works?

 

Clearly, when it comes to marketing Ford gets it. Compared to Clayton Homes, or the Manufactured Housing Institute (MHI) ‘story telling’ and ‘image building’ videos, one could argue that the later two don’t.  MHI made an outrageous – and at best misleading if not arguably false claim last fall – that their marketing reached some 84 million Americans.  If so, then why were there so few sales in 2018?

 

MHI1085mediaplacementAudience84MillionMHIVideoStillMHILogoDailyBusinessNewsMHProNews

Warren Buffett was right about good but unfriendly journalists asking the questions and doing the reports that others have not.

But despite the various prior failures, flubs, fumbles, and – apparent public yawns for Clayton’s latest campaign – they remain ‘the big dog’ in manufactured housing Why?  Is there something else at play here that is more subtle?

 

 

A Relevant Segue

An attorney tracking and otherwise motivated by the Cavco Industries (CVCO) issues called the Daily Business News on MHProNews this afternoon.  He called to ask questions, hear some input, and to say “thank you” and “well done” for the recent reports on the various types of purported market manipulation – past and current – in manufactured housing. That attorney – along with other ‘suits’ or lawyers engaged in Cavco and other “investigations” underway in MHVille – have found the reports, fact checks, and analysis here on the Daily Business News on MHProNewsto be useful.”

Some are among the new sign-ups for the emailed headline news that are delivered twice weekly to thousands of industry professionals.

 

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To see a sample of our emailed news update, click here. To sign up for the factory-built home industry’s #1 headline news, click here or the graphic above.  

 

That’s mentioned for this reason. The normal logic of business doesn’t always apply to Warren Buffett’s Omaha based Berkshire Hathaway. For example, why doesn’t Buffett – who certainly understands synergy – not use the Berkshire Hathaway Media Group to do a periodic series on manufactured housing facts vs. myths or outdated notions?

Kevin Clayton obliquely explains that when he said on the video on the page linked here that “Warren” would be okay if Clayton lost money for five years, as long as the Moat was expanding. The normal logic doesn’t apply.

 

 

Through the Looking Glass, Darkly

MHProNews doesn’t claim to know every detail about what’s said and done in Knoxville at Clayton, 21st, or Vanderbilt Mortgage and Finance (VMF). We don’t. That obvious disclaimer noted, we do get some tips and insights from sources at and/or connected to Knoxville and Arlington. There has also been some apparent ‘false flag’ or test ‘fake tips’ too from the Omaha-Knoxville-Arlington axis. Thankfully, we haven’t yet bitten on a fake tip. But if we do, just recall that it was mentioned here first. We strive to verify claims and check claims against other sources.

 

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To report a news tip, click the image above or send an email to iReportMHNewsTips@mhmsm.com – To help us spot your message in our volume of email, please put the words NEWS TIP in the subject line.

 

The point, with respect to the Ford commercial and Berkshire, Clayton, or MHI’s action (or inaction) on education and marketing is this. They don’t have to perform in the same way as most businesses want. They are learning from each ad, each campaign, and every test. Plus, they get to posture for the industry, and some pros buy that posturing. Our publisher has frankly ly admitted he bought into the posturing for a time too.

There is sincerely reported news that is inaccurate, as Robert Robotti told his colleagues in the investment world. That’s an important point. But it needs to be turned inward toward Manufactured Housing.  ICYMI earlier today, click the linked text-image box below.

 

“Out-Performing the Market” Robert Robotti, Value Investing, and Manufactured Housing

 

The HUD Code industry gets a steady diet of misleading, fake, or otherwise inaccurate reports. The public likewise gets a steady drone of problematic reporting that drowns out much of the truth about manufactured housing. That may sound far fetched, but only for those who won’t dig deeper.

 

AllTruthPassesThrough3stagesFirstRidiculed2ndViolentlyOpposed3rdAcceptedAsSelfEvidentManufacturedHousingIndustryDailyBuinessNewsMHProNews

 

Some 22 million Americans that live in pre-HUD Code mobile homes, and post code Manufactured Homes know that their homes do the job for them. It’s the most proven kind of permanent affordable housing in modern U.S. history. It’s the truth hiding in plain sight.

 

2018DataShareofHousingMarketManufacturedHousingInfographicDailyBusinessNewsMHProNews612

 

As Skyline’s Terry Decio once said, ‘I’m tired of being the best kept secret. I’m ready to help house Americans.’ That’s logical. But normal business logic demonstrably doesn’t work in the topsy-turvy world of manufactured housing, where some players want to consolidate ever bigger portions of the industry.  That’s accomplished by keeping industry sales low, which depresses the value of other businesses.  It’s value investing, via arguable market manipulation methods.

 

The Facts and Stats That Industry Pros Tell Us

2019-03-20_2032MHProNewscPanelDataDailyBusinessNewsMHProNews900

Over 4000 hits in under 1 day on the Tunica Show “Fix the Manufactured Housing Tricks’ event. There were over 17,000 hits on the latest Clayton #MHM report in just 5 days. Beyond direct contacts from industry members, site traffic speaks volumes. MHMarketingSalesManagement is the original name for the site, and is at this time the biggest URL in traffic, but other URLs are getting their own traffic on the same content. Rephrased, the totals are higher than what is shown above. Industry pros are tired of the manipulation, and the signs are that they are ready to start the process for curing what ails the industry.

 

To Fix the Manufactured Housing industry Tricks, plan on attending the special discussion and pre-organizational meeting for a pro-growth post-production trade association on the afternoon of March 28th, immediately following the Tunica Show. Be there, it will be historic.  Make sure you are signed up for our emails, the Fix MH Industry Trick$ event updates will come via that MHProNews email list

 

Fix MH Industry Trick$ – Special Meeting at Tunica Show

 

In closing, let’s note that when it comes to industry trade media we are different. Perhaps that difference is what has made and kept us the Big Lead Dog in MHVille?  Thanks for making and keeping us #1. That’s tonight’s MH “Industry News, Tips, and Views That Pros Can Use” © where “We Provide, You Decide.” © (News, analysis, and commentary.)

 

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To report a news tip, click the image above or send an email to iReportMHNewsTips@mhmsm.com – To help us spot your message in our volume of email, please put the words NEWS TIP in the subject line.

NOTICE: You can get our ‘read-hot’ industry-leading emailed headline news updates, at this link here. You can join the scores who follow us on Twitter at this link. Connect on LinkedIn here.

NOTICE 2: Readers have periodically reported that they are getting a better experience when reading MHProNews on the Microsoft Edge, or Apple Safari browser than with Google’s Chrome browser. Chrome reportedly manipulates the content of a page more than the other two browsers do.

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To see a sample of our emailed news update, click here. To sign up for the factory-built home industry’s #1 headline news, click here or the graphic above.

2) To pro-vide a News Tips and/or Commentary, click the link to the left. Please note if comments are on-or-off the record, thank you.

3) Marketing, Web, Video, Consulting, Recruiting and Training Re-sources

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

 

 

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To submit a news tip, please click here: iReportMHNewsTips@MHMSM.com


Fed Caves, Rates Hikes, Balance Sheet, Smoother Sailing Ahead? Plus Manufactured Home Market Updates

March 20th, 2019 No comments

CNNmone3.20.2019ManufacturedHomeStocksMarketsReportsMHProNewsFederal Reserve Chairman Jerome Powell announced what several observers are referring to as a ‘cave,’ giving into what investors and President Donald J. Trump has been pushing for over the course of several months. On a day when the broader market slid, and more losers than gainers on the manufactured housing tracked stocks covered here, the Daily Business News on MHProNews focuses this evening on statements and insights from the Fed.

 

If you’re new, already hooked on our new spotlight feature – or are ready to get the MH professional fever – our headline report is found further belowafter the newsmaker bullets and major indexes closing tickers.

 

The evolving Daily Business News market report sets the manufactured home industry’s stocks in the broader context of the overall markets.  Headlines – at home and abroad – often move the markets.  So, this is an example of “News through the lens of manufactured homes, and factory-built housing.” ©

Part of this unique evening feature provides headlines – from both sides of the left-right media divide – which saves busy readers time, while underscoring topics that may be moving investors, which in turn move the markets.

Readers say this is also a useful quick-review tool that saves researchers time in getting a handle of the manufactured housing industry, through the lens of publicly-traded stocks connected with the manufactured home industry.

This is an exclusive evening or nightly example of MH “Industry News, Tips and Views, Pros Can Use.” © It is fascinating to see just how similar, and different, these two lists of headlines can be.

Want to know more about the left-right media divide from third party research?  ICYMI – for those not familiar with the “Full Measure,” ‘left-center-right’ media chart, please click here.

2019-03-20_1720CNN-CNBC-Fox-BloombergMarketReportDailyBusinessNewsMHProNews

Besides original analysis and industry focused commentary, MHProNews curates content across the left right spectrum.  We take a “Wheat and Chaff” approach, keeping what’s good, toss out what’s not fit for human consumption. 

 

Select bullets from CNN Money…

  • The death of the American pension
  • Pensions are disappearing. The government just made it easier for employers to get rid of them
  • Lyft, Uber, Pinterest: What this legendary investor thinks about the upcoming IPO parade
  • Fed signals no rate cuts are coming in 2019
  • It’s about to get a lot harder to stop violent videos from spreading on Facebook. Here’s why
  • One of America’s biggest oil companies wants to be ‘carbon neutral’ — eventually
  • US oil prices hit $60 a barrel for the first time since November
  • LIVE UPDATES Jerome Powell does not sound happy with Wells Fargo
  • How Europe is forcing Google to change
  • Elon Musk’s SEC fight nears its moment of truth
  • General Mills raised prices on cereal and yogurt. It’s working
  • Disney closes $71 billion deal with Fox
  • Ferrari and Lamborghini say ‘Not so fast’ on electric supercars
  • Quitting your job? Here’s how to write the perfect goodbye note
  • How Olive Garden made a huge comeback
  • Starbucks unveils two new designs for recyclable and compostable cups as it moves forward with efforts to make its products more sustainable.
  • Starbucks to test recyclable, compostable cups
  • Apple announces new AirPods with wireless charging
  • See the new faster, smarter iMacs
  • Apple unveils new iPad Air and iPad mini
  • Report: Apple and Goldman Sachs are releasing a credit card together
  • PERSPECTIVES Why Tesla needs Elon
  • Elon Musk’s SEC fight nears its moment of truth
  • Tesla Model Y: Elon Musk’s second electric SUV is here
  • Why the Model Y will be Tesla’s most important car
  • Elon Musk isn’t a liability to Tesla. He’s a ‘liability for himself’

Select Bullets from Fox Business

  • Federal Reserve signals no interest rate hikes in 2019
  • GM defends US investment following Trump jabs over Ohio plant
  • Trump has legal justification to implement auto tariffs: Report
  • Real estate firms accused of ‘conspiring’ to overcharge home sellers in class-action suit
  • World’s most expensive city in 2019 is a 3-way tie
  • Bill Gates just joined Jeff Bezos in ultra-exclusive $100 billion club
  • Kale rejoins the ‘Dirty Dozen’ list as one of the most contaminated with pesticides
  • US cities where housing costs take the least from your paycheck
  • Nebraska Governor: Worst flooding damage in our state’s history
  • Warren Buffett’s $1M March Madness bracket challenge, explained
  • Ford shifts $900 million investments in Michigan plants for new electric, self-driving cars
  • White House credits Trump policies for economic growth, slams far left proposals
  • Powerball $550M lottery jackpot: Here’s the tax damage
  • Katie Couric: How science can solve many of the world’s problems
  • Congress faster path for legalizing CBD in food, says outgoing FDA chief
  • Brexit delayed? PM May requests three-month extension, EU pushes back
  • Fox, Disney close transformative $71.3 billion deal
  • Joy Villa slams millennials: I’m ashamed of my people

Today’s markets and stocks, at the closing bell…

9MarketIndicatorsYahooFinance3.20.2019DailyBusinessNeawsManufacturedHousingIndustryStocksMarketsReportsDataMHProNews

 

Today’s Big Movers

For all the scores and highlights on tracked manufactured home connected stocks today, see thBloomberg graphic, posted below.

Today’s MH Market Spotlight Report –

Fed Gives Markets, President What Was Wanted — Rates and Balance Sheet Changes Announced

 

FedCavesRateHikesBalanceSheetSmootherSailingAheadPlusManufacturedHomeMarketUpdatesDailyBusinessNewsMHProNews

Per left-of-center CNBC…

·        The central bank says it will begin in May to taper the amount of proceeds it allows to roll off each month and will end the program in September.

·        The amount for Treasurys will drop to $15 billion in May. Under the current program, it is allowing $30 billion in Treasury proceeds to roll off.

·        The total of Treasurys and MBS once totaled more than $4.2 trillion and has been reduced by about $450 billion in the program that began in October 2017.

 

 

Part of the risk matrix includes Brexit and U.S. China trade talks.  Federal Reserve Chair Jerome Powell said that both Europe and China have slowed significantly. 

By comparison, the U.S. is doing far better.

 

 

The above noted, this has not been the only artificial headwinds that have buffeted the markets.  Sam Zell observed in 2017 that one can’t overlook the impact of politics on investing. 

If Democrats hold the House, and/or take the Senate and the White House, expect a sea change in the investment outlook. 

Make sure you check out our Robert Robotti report, below, along with other broader macro-market focused topics.

Related Reports:

“Out-Performing the Market” Robert Robotti, Value Investing, and Manufactured Housing

Beto Mania! Fox, MSNBC, CNBC Weigh-In 2020 Democratic Contender, plus Manufactured Housing Stock Updates

Historic Welfare Reform Can Spur More Worker Availability, Save Taxpayers, Expert Analysis – plus Manufactured Housing Industry Market Updates

 

 

Bloomberg Closing Ticker for MHProNews…

NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services.

NOTE: The chart below covers a number of stocks NOT reflected in the Yahoo MHCV, shown above.

NOTE: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).

3.20.2019DailyBusinessNewsManufacturedHousingConnectedMarketReportsBloombergMHProNews

Berkshire Hathaway is the parent company to Clayton Homes21st Mortgage, Vanderbilt Mortgage and other factory built housing industry suppliers.

LCI Industries, Patrick, UFPI and LP all supply manufactured housing.

AMG, CG and TAVFX have investments in manufactured housing related businesses.

Your link to industry praise for our coverage, is found here.

For the examples of our kudos linked above…plus well over 1,000 positive, public comments, we say – “Thank You for your vote of confidence.”

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(Image credits and information are as shown above, and when provided by third parties, are shared under fair use guidelines.)

Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.

To submit a news tip, please click here: iReportMHNewsTips@MHMSM.com


“Out-Performing the Market” Robert Robotti, Value Investing, and Manufactured Housing

March 20th, 2019 No comments

 

OutPerformingTheMarketRobertRobottiValueInvestingManufacturedHousingDailyBusinessNewsMHProNews

In order to outperform the market, you have to have a contrarian point of view,” said Robert Robotti, to the investing media resource, the Motley Fool.

 

The Daily Business News on MHProNews look at Robotti and his firm’s over 15 years involvement in the Manufactured Housing sector. This 1-minute video gives you a quick sense of the man, and the philosophy that moves Robotti.

 

 

That Motely Fool video was shot at the annual Value Investor Conference.  As our thousands of regular readers know, direct quotes here are shown in brown and bold text.  That said, the Value Investor Conference “is one of the premier events surrounding Berkshire Hathaway’s annual meeting in Omaha. The Motley Fool’s…Michael Olsen chats Bob Robotti, founder of Robotti & Co., about common characteristics of the great value investors.”

From the Robotti & Company Advisors website, they say that their “approach is guided by the classic tenets of value investing.” “Inherent in our approach is the belief that the market price of a security does not necessarily indicate its true economic value.”

Track Hedge Funds says, “Robotti & Company Advisors, LLC is a hedge fund based in New York, NY. It was founded in 06/2001. They hold $580 million in assets under management as of July 17, 2017.”

The Daily Business News will now look at some history of Robotti and manufactured housing.

 

Robotti and Manufactured Housing

The years were 2004 and 2017. Value investor Robotti used some operational focus in 2004 on his ‘discovery’ of manufactured housing at what was billed as the first of what became an ‘annual event.’ But by 2017, Robotti saw things differently.

It must be stressed that Robotti continues to invest in publicly traded manufactured housing companies. So, some of his or his firm’s comments must be understood with that fact in mind.  It must also be said that as pro-manufactured housing trade media and professional service providers for decades, our firm’s understanding of the industry has evolved too. So, this isn’t a tag on Robotti, rather, it is a nuanced look at his firm’s largely keen insights, but what was potentially missed.

 

Here is what Robotti did in 2004, which will be followed by an equally eye-opening look at his thinking 13 years later.

 

NEW YORK–(BUSINESS WIRE)–Oct. 14, 2004—

WHAT:

Bob Robotti, President of Robotti and Company, is pleased to sponsor

the 1st Annual Manufactured Housing Conference. The conference will

address the wide range of issues surrounding the manufactured home

industry. Presenters will be manufacturers, financiers, operators,

dealers and suppliers. Robotti & Company is a broker-dealer that

focuses on undervalued securities identified by their proprietary

research. They apply an outstanding, focused investment philosophy

derived from practical experience as proven throughout their 21 year

history.

 

WHO:

The following leading companies in the industry will be participating:

Cavco Industries, Champion Enterprises, Dick Moore Housing,

Drew Industries, Fleetwood Enterprises, Nobility Homes,

Origen Financial, Southern Energy Homes, United Mobile Homes, and U.S.

Bank Corp. The keynote speaker will be Chris Steinbert of the

Manufactured Housing Institute.

 

WHEN:

Thursday, October 14, 2004

8:00am – 5:00pm

 

WHERE:

Le Parker Meridien

118 West 57th Street (between 6th & 7th Avenues)

New York, NY 10019

 

Notice the eclectic group included independents, members of the Manufactured Housing Institute (MHI), and members of the Manufactured Housing Association for Regulatory Reform (MHARR).  The community sector is represented by UMH (United Mobile Homes). Finance, suppliers, producers, and retail are all represented.  Note that Chris Stinebert was a keynote.  For the former MHI president’s final farewell address to manufactured housing, see what Stinebert said at this link here.

 

Now, fast forward to 2017.

We’ll begin with the following quote from Bob Robotti. “You shouldn’t believe everything that is written in the newspaper! Articles in the newspaper are written by someone who may have above-average writing skills, but probably doesn’t understand the core tenets of a business. So if you are a journalist and you are writing about the energy business, you end up reporting what people tell you and they usually tell you about what is in the news or what might make a good headline.”

That’s powerful, and often true. We’ll likely return to that gem from Robotti another time.

But that insight begs for a few moments to unpack the potential value of what informed trade media can bring to a discussion. If a writer is knowledgeable about the core realities of a business or industry, that will bring a far richer and more accurate insight.  That’s part of the goal here at MHProNews, and our sister site, MHLivingNews.

That noted, let’s turn to some additional takeaways from his 2017 statement at his firm’s annual meeting. “November 13, 2017 Robotti & Company Advisors, LLC hosted its annual investor meeting at The Yale Club in New York City. The highlights below, delivered by Bob Robotti, have been edited for clarity.”

RobertRobottiPhotoRobottiCompanyLogoFairUsebyDailyBusinessNewsMHProNews

Photo provided under fair use guidelines for media.

From that talk, comes the following.

Thirty four years ago, a handful of us here in the room started a business with the concept that by doing fundamental bottom-up stock research, we could identify companies that would outperform the market. That is what we have done and it has always been the mandate of the business. Now this is a concept that is simple to say, but is not necessarily so easy to achieve. We believe now, as then, opportunities still exist in the marketplace.

By focusing on the longer-term prospects of a business and not just looking at the short-term, immediate outlook, we think we can identify companies that are substantially mispriced and mis-valued by the market. This takes us to places that are not typical, so there is very little-to-no overlap between what we own and what is found in the popular indices.

Of course, we know that over the long-term there will be periods when we will underperform the market. We think an important component of long-term success is the appreciation and realization that during these periods of underperformance you must remain consistent, and stay true to what you understand and the variant view you have developed versus the market.”

That’s insightful, candid, and useful in understanding what was said by Robotti next. Again, keep in mind that Robotti continues to invest in manufactured housing. We’ll take part of his talk out of sequence, for reasons that should be apparent to those in or pondering manufactured housing. The brackets are inserted for clarity by MHProNews, but are clear from the context.

The base premise of our investment in this [manufactured housing and conventional building] sector is that single family homebuilding is dictated by irrefutable demographic trends. While there are plenty of headwinds that still persist for the business, we think those long-term demographic trends will win out over time. So you have an industry that today will build about 800k single family homes while the 50 year average is between 1.1 – 1.2 million single family homes or 40% – 50% above the current level of activity. For 10 years single family homes built have been significantly below that long-term average. There were definitely too many single family homes built in 2006 and 2007 but those have all been absorbed into the marketplace while inventory continues to come down. So we ask: What is the normalized level of activity in this business? And that is really what we are looking to do – invest in cyclical businesses at low points in the cycle when you can buy the business at a significant discount to its normalized earning power value and then hold the business for a long-period of time.”

 

With that backdrop, note what else Robotti said about manufactured housing specifically.

One of the things that we do is invest in cyclical businesses. We think that cyclical businesses often provide us with an opportunity to buy when the price per share is significantly less than the normalized earnings power value of the business. Back in 2003-2004, which is where we have to go to understand our housing related investments, we invested in manufactured housing. This was a mistake and didn’t work out in the short-term. Our visits to manufactured housing plants informed us that this is an efficient way to build a home. If you use the same materials that you do on a site built home, the quality ends up better because you have a controlled environment, which includes supervisors making sure the laborers didn’t go out for 3 beers at lunch and forget to install the insulation. Since the quality was better and the cost per square foot was lower we figured manufactured housing was an out of favor industry that would have a revival.”

Note that for several years, starting in 2004, Robotti’s firm hosted that manufactured housing focused annual event. He’s been exposed to the industry at a level that few Americans, or other investors, have been.  We share the following, not because we agree with each phrase or specific statement, but because Robotti said it.

The problem was that in 2005-2006 the federal government stopped buying mortgages for manufactured homes. So a homebuyer could buy a $200k site built home for less money down, with a reverse amortization mortgage leaving them with a lower monthly payment for that site built home than for an $80k manufactured home. This meant a recovery would be significantly forestalled. In 2009, Alan Weber, a long-time colleague of ours said, ‘Go visit Builders FirstSource – a distributor to the homebuilders.’ We first invested in Builders FirstSource back in 2009 estimating that we were paying 2x normalized EBITDA for a business that was not a buggy-whip business – so it wasn’t going away. Yes, it did have significant financial headwinds, so from 2009 to 2011 we looked wrong. The stock traded from $3.40 down to $1.70, so we bought more.”

Once more, the following is Robotti’s words, “Of course, what you really have with cyclical businesses is that they often go through a catharsis. The competitive landscape winnows down through industry consolidation.” That may be true.

But did Robotti know about what took place during that time frame, that is detailed at the report linked immediately below?  As regular MHProNews readers know, you can access the reports that follow by clicking on the linked text-image box. That can be done later for a richer understanding of what occurred, and has led the industry to its current years of under-performance.

 

Bridging Gap$, Affordable Housing Solution Yields Higher Pay, More Wealth, But Corrupt, Rigged Billionaire’s Moat is Barrier

 

While thousands of industry professionals lived through that period, many who may have had decades of experience in the business did not fully realize what transpired.  As MHI-affiliate and WHA executive director Amy Bliss bemoaned, a 50 year HUD Code producer was one of numbers of firms that vanished at that time. What she and others have not addresses is the ‘rest of the story.’  It’s the truth hiding in plain sight, that the Atlantic and IBISWorld are among the sources that documented the trend, but without explicitly saying what caused the trend.

 

 

Examining Derek Thompson’s Atlantic Report on ‘Mobile Home’ Retail Market as Fastest Dying Business In America

 

Those linked reports noted, we return to what Robotti said, “We look for companies where the valuation can be understood and appreciated and we can therefore determine whether there is a margin of safety and an opportunity to profit. We believe that the fundamentals of a company is what really drives performance over time which is why it is so important to stick to what you know.” That’s in keeping with much of the Buffett philosophy too. But what’s missing is a reference to Buffett’s Strategic Moat.

 

What’s Missing?

These are public, published statements, and our ability to read minds – especially at a given moment in time – is hereby expressly disclaimed.  But Robotti was correct that the trends are good for the industry, but his thinking as to what caused the industry’s downturn is debatable, based upon now clearly known facts that he may or may not have been aware of at that time.

Professionals in and outside of manufactured housing have told MHProNews that the research and reports we’ve been providing on facts – that are in many cases hiding in plain sight – is essential to the understanding of the manufactured home industry’s historic underperformance.

The industry and it’s investors are as arguably good a bet as ever.  Why? For the factors that Robotti touched upon, the demographics are strong.  Affordable housing is more needed than ever. Manufactured homes build homes for less. The list goes on.  He’s right, right, right on those points.  What’s missing are key points, like enhanced preemption.  Where is that in Robotti’s lexicon? Why didn’t MHI’s president or others hammer home enhanced preemption?

 

RobertRobottiEnhancedPreemption2019-03-20_1236DailyBusinessNewsMHpronews

C:\Users\L. A. Tony Kovach\Downloads\ManufacturedHousingInstituteLogo2019-01-09_1250ManufacturedHousingEnhancedPreemptionSearchMHProNews3.png

A recent check revealed the same result.

 

What is missing are the understanding of purportedly artificial headwinds, which often come from within the industry, as MHARR’s new report and our related analysis linked here exemplifies.

The industry is poised for huge potential growth.  Award-winning manufactured home retailer Alan Amy is obviously correct it is the future of housing, which is why billionaires like Buffett and Zell continue to invest big bucks in the space.

 

 

 

The quotes from Robotti’s talk are from this page, linked here.

 

Stating the Obvious Brings Clarity

There is always a need for affordable housing.  “Of all the business one can imagine, HUD Code manufactured homes – in a free market environment – ought to be largely recession proof,” said award-winning industry veteran, L. A. ‘Tony’ Kovach.

Tony Kovach, our publisher and chief consultant, has been called in for performing turn-arounds of failing locations and/or to successfully grow outcomes for location(s) owned by Clayton Homes, Nationwide, Asset Development/Home Source One, to name but a few.  He’s work at locations for firms large-medium-small from locations from states border-to-border. While every project wasn’t successful, most were, and all provided valuable lessons. Documented results were achieved for companies, and the Louisville Show was saved by a coalition that included MHProNews’ work.  The leadership of the Louisville Show repeatedly praised Kovach and the MHProNews team in writing and on camera.

BobThiemanLinkedInTimWilliamsOHMHAManufacturedHousingAssociationLouisvilleDailyBusinessNewsMHProNews

Yet, Kovach admits that he was mistaken about certain nuances in the industry that he’s served for some 25 years.

The truth hiding in plain sight is a cagey strategy. Until someone has watched Kevin Clayton’s video linked here, and the related report, it is simply not possible to begin to correctly grasp what has happened to manufactured housing, and why it the industry is underperforming,” said Kovach.

ManufacturedHousingVsTotalCompletedHomesLegacyHousingS1FilingIPODailyBusinessNewsMHProNews

Legacy clearly believes in the future of the business, because they are raising capital to expand their retail base.

EricBelksyManufacturedHousingIndustryManufacuredHomeManufacturedHousingInstituteResearchDataAffordbleHousingMHProNewsDailyBuisnessNews575

Why did Belsky miss his predicted date? Arguably, it was because his prognosis came before Buffett’s entry into MH.  See the report, linked here.

Buffett and Clayton are arguably correct to believe that most won’t dig into those details,” Kovach said, adding “But that is changing, and the industry is beginning to organize to counter the Omaha-Knoxville-Arlington axis moves.”

 

LATonyKovachHenryFordQuotesPrettyPicturesAchieveGoalsDailyBusinessNewsProNews

 

What Are the Bottom Lines?

The linked reports below the bylines, notices, and offers are the documentation, wake-up calls, and next steps for the manufactured housing industry’s independent professionals and investors. They will take place at the Tunica Manufactured Housing Show the afternoon of March 28th, right after the main show is over, so as not to interfere in any way with their event.

 

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To report a news tip, click the image above or send an email to iReportMHNewsTips@mhmsm.com – To help us spot your message in our volume of email, please put the words NEWS TIP in the subject line.

 

That’s this afternoon’s MH “Industry News, Tips, and Views That Pros Can Use” © where “We Provide, You Decide.” © (News, analysis, and commentary.)

 

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To report a news tip, click the image above or send an email to iReportMHNewsTips@mhmsm.com – To help us spot your message in our volume of email, please put the words NEWS TIP in the subject line.

NOTICE: You can get our ‘read-hot’ industry-leading emailed headline news updates, at this link here. You can join the scores who follow us on Twitter at this link. Connect on LinkedIn here.

NOTICE 2: Readers have periodically reported that they are getting a better experience when reading MHProNews on the Microsoft Edge, or Apple Safari browser than with Google’s Chrome browser. Chrome reportedly manipulates the content of a page more than the other two browsers do.

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3) Marketing, Web, Video, Consulting, Recruiting and Training Re-sources

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

 

 

Related Reports:

You can click on the image/text boxes to learn more about that topic.

Fix MH Industry Trick$ – Special Meeting at Tunica Show

 

Cha-Ching! Manufactured Housing Made Simple in 2019

Manufactured Housing Institute’s Monthly Economic Report Spotlights Challenge, What MHI, WHA’s Amy Bliss Said

Restraint of Trade, Manufactured Housing Institute, Clayton Homes, 21st Mortgage, Vanderbilt Mortgage, and Antitrust Law

Examining Derek Thompson’s Atlantic Report on ‘Mobile Home’ Retail Market as Fastest Dying Business In America

“Potentially Enormous Costs” “Proposed DOE Manufactured Housing Energy Standards” Exposed as HUD PD&R “Whitewash”

Court Rules That Sierra Club Has Standing to Sue DOE Over Manufactured Housing Energy Standards

Manufactured Home Production Decline Persists As 2019 Begins

HUD Code Manufactured Home Production Decline Persists – Time For Action Not Excuses

“The Illusion of Motion Versus Real-World Challenges”

Independent National Manufactured Housing Post-Production Association Takes Major Step

MHARR Releases Study Recommending Independent Collective Representation for Post-Production Sector

 

 

 

 

 

 

 

To submit a news tip, please click here: iReportMHNewsTips@MHMSM.com


“Potentially Enormous Costs” “Proposed DOE Manufactured Housing Energy Standards” Exposed as HUD PD&R “Whitewash”

March 20th, 2019 No comments

PotentiallyEnocrmousCostsProposedDOEManufacturedHousingEnergyStandardsExposedAsHUDPD&RWhitewashDailyBusinessNewsMHProNews

The Department of Housing and Urban Development (HUD) periodically commissions research on various topics.  That research may be dubbed “Policy Development and Research” or PD&R.

 

As an example of a useful HUD PD&R, one established some years ago that manufactured homes and conventional housing – sited side-by-side in urban areas – witnessed that both types of housing appreciated in value. That useful PD&R research demonstrated that insight from not one, but several cities in various parts of the country.

So, some HUD PD&Rs are good and useful ‘wheat.’ But others, are the chaff that must be separated from wheat, which is to be tossed out and rejected as unfit for human consumption.

In a new analysis, the Manufactured Housing Association for Regulatory Reform (MHARR) informs the Daily Business News on MHProNews of research that their analysis reveals is problematic for most in manufactured housing, and for the industry’s potential consumers.  That is the work that a production-focused association is supposed to be doing.

 

 

Producers and Non-Producers

The work that MHARR does is a living example of the distinction between the work of production focused and post-production related issues.  Both kinds of trade associations – production and post-production – are essential for a successful and properly functioning industry.  One could say that pre-production is yet another segment, but that is closely allied with producers of factory built housing.

Yet, some manufactured home industry bloggers and writers – who are blindly agenda driven by whomever will give them the most money, attention, or whatever else – have attempted to blur that distinction between the production – the HUD Code factory-builders – and the post-production, which are the items that occur after the home leave the ‘production center’ or ‘factory.’

It isn’t MHARR’s ‘job’ as a production focused trade group – so to speak – to weigh in on community related issues, per se, as but one of many possible examples. Communities or retailing are 2 of several post-production matters.

With that tee up, let’s dive into the review by MHARR of what their analysis says is a looming risk for the industry. That risk is for potentially far higher costs caused by pending federal rule-making.

Note that MHARR cites 2 other sources, the Small Business Administration (SBA) and George Washington University Regulatory Studies Center, which were part of the strategic alliance that MHARR was engaged with that foiled the Manufactured Housing Institute (MHI) multi-year counter-effort to drive the HUD Code manufactured housing industry into federal mandates that could have been $6000 or more higher per unit. After years of push back, MHI relented.

More on MHARR and production vs. post-production associations after their release and attached document.

 

 

MHARR ANALYSIS EXPOSES HUD PD&R ENERGY COSTS “WHITEWASH”

 

Washington, D.C., March 19, 2019 – The Manufactured Housing Association for Regulatory Reform (MHARR) has filed an analysis and comments (copy attached) with the federal Manufactured Housing Consensus Committee (MHCC) exposing a blatant whitewash of supposed manufactured housing energy regulation costs developed at the request of the MHCC by the Department of Housing and Urban Development’s Office of Policy Development and Research (PD&R).

PD&R’s ostensible “analysis” of U.S. Department of Energy (DOE) cost/benefit data initially developed as part of a fundamentally tainted and contrived DOE “negotiated rulemaking” process, not only fails to provide the independent fact-finding regarding the potentially enormous costs of proposed DOE manufactured housing energy standards sought by the MHCC, but constitutes a cover-up and attempt to legitimate, after-the-fact, a brazenly-contrived DOE rulemaking process (and related alleged cost-benefit inputs) that wererejected by the Office of Management and Budget and its Office of Information and Regulatory Affairs (OIRA) not once, but twice.

To the extent that DOE’s most recent regulatory proposals, contained in the August 2018 “Notice of Data Availability” (NODA) allegedly “analyzed” by PD&R, expressly rest-upon and are admittedly derived from those earlier illegitimate data inputs – thoroughly deconstructed and disproven by MHARR, the George Washington University Regulatory Studies Center and the U.S. Small Business Administration — there is absolutely no valid basis for the NODA proposals, and PD&R’s alleged “analysis” of that data is completely baseless and factually worthless.  As a result, MHARR’s comments call for a completely new standards development process for any new manufactured housing energy standards, if any such standards (which are unnecessary as shown by U.S. Census Bureau energy cost information) are, in fact, developed.

The Manufactured Housing Association for Regulatory Reform is a Washington, D.C.-based national trade association representing the views and interests of independent producers of federally-regulated manufactured housing

 Download of Report – linked here

— 30 —

 

This is an apt and timely example of what production focused work looks like.

In terms of an MHProNews analysis, MHARR over a decade ago began to pay more attention to a specific post-production issues, which involved financing and capital access.  Mindful of what occurred that drove thousands of industry independents out of business, and took several producers with them, MHARR added to their plate efforts to help industry independents gain better access to other financing options.

The historic risk is arguably documented by those in Omaha and Knoxville, linked here.  MHI arguably didn’t lift a finger while that assault on industry independents took place.

While MHARR was working to get the Duty to Serve mandate passed into law through the Housing and Economic Recovery Act (HERA) – to protect independent producers by protecting independent retailers of manufactured housing – the Manufactured Housing Institute (MHI) somehow allowed the same HERA bill to pass into law the SAFE Act, which eventually became part of the regulations administered by the Dodd-Frank created Consumer Financial Protection Bureau (CFPB).

Rephrased, MHARR was doing its job, and more.  By contrast, Tim Williams, speaking as Chairman of MHI admitted in a meeting that the “horse has left the barn” on the SAFE Act, and Dodd-Frank too.

MHI claims to be representing “all segments of factory-built housing.”  While they can voice that claim, they could just as easily claim to be superman, and assert that they are able to leap tall buildings in a single bound.  The better question is, what is the MHI track record on production or post-production issues?  After all, it is Warren Buffett who stresses the importance of looking into the rearview mirror.

 

InBusinessWorldRearViewMirroIsAlwaysClearerThantheWindshieldWarrenBuffettMHProNews

 

The short answer is a sobering one.  MHI’s track record in the last 15 years since Berkshire Hathaway has entered the industry through various acquisitions has been poor. Who said so?

Consider what Nathan Smith said on camera when he was Chairman of MHI.  Smith asserted that the industry – meaning MHI – had to admit that it has failed to be pro-active to problems.  Tim Williams admitted as much.  Richard ‘Dick’ Jennison said so on stage at Louisville, also caught on MHProNews’ cameras.

When MHI’s own elected and salaried leaders admit that the Arlington, VA based organization has failed time and again, why is it that the industry’s independents follow it so readily?

 

That answer is complex, but equally sobering.  The MHProNews analysis, after years of input from industry professionals within and outside of MHI, reveals this harsh conclusion.

n  Some are members because they want to be, and they may in fact benefit.

n  Others, are members like the MHI member linked here admit that they have never benefited from being a member.

n  Then some are members out of fear of reprisal.

n  Non-MHI members – or those who resisted for a time – have told MHProNews that they are being ‘bullied and intimidated’ into becoming MHI members.

 

Each of these points raises different legal as well as ethical questions.

 

n  Is MHI a de facto protection racket?

n  Is MHI guilty of making false and deceptive claims, that violate federal as well as state laws?

n  Has MHI aided and abetted the consolidation of the industry into ever fewer hands of ‘big boy’ companies – borrowing MHI award-winner Marty Lavin’s phrase – and if so, are they deceiving the industry when they claim that they represent all segments of factory built housing?

 

These will be among the items that will be examined publicly at Tunica on March 28th, after the main event is concluded.  Watch for the time and date for that meeting, which MHI leaders, Clayton Homes, and 21st Mortgage, and their attorneys – among others – are being invited to attend.

 

To learn more about that Tunica meeting, see the two links that follow the by line, notices and email head-line news, and business developments offers.

 

Once a problem(s) is/are identified, the next thing that must occur is steps to solve the problem(s) must be acted upon. RSVPs to attend the solution-focused discussion are already coming in.

 

The time to form a new post-production association that represents the interest of non-producers, and which can complement the work of MHARR for producers of HUD Code manufactured homes is now. It must be said that MHARR, which could have gone into direct competition with MHI, voted to stay as a producer group, but encouraged the industry to create their own post-production group, that they want to work with.

The place to begin that process is Tunica, MS.  See the related reports, further below.

 

That’s this morning’s MH “Industry News, Tips, and Views That Pros Can Use” © where “We Provide, You Decide.” © (News, analysis, and commentary.)

 

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To report a news tip, click the image above or send an email to iReportMHNewsTips@mhmsm.com – To help us spot your message in our volume of email, please put the words NEWS TIP in the subject line.

NOTICE: You can get our ‘read-hot’ industry-leading emailed headline news updates, at this link here. You can join the scores who follow us on Twitter at this link. Connect on LinkedIn here.

NOTICE 2: Readers have periodically reported that they are getting a better experience when reading MHProNews on the Microsoft Edge, or Apple Safari browser than with Google’s Chrome browser. Chrome reportedly manipulates the content of a page more than the other two browsers do.

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2) To pro-vide a News Tips and/or Commentary, click the link to the left. Please note if comments are on-or-off the record, thank you.

3) Marketing, Web, Video, Consulting, Recruiting and Training Re-sources

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

 

 

Related Reports:

You can click on the image/text boxes to learn more about that topic.

Fix MH Industry Trick$ – Special Meeting at Tunica Show

 

Cha-Ching! Manufactured Housing Made Simple in 2019

Manufactured Housing Institute’s Monthly Economic Report Spotlights Challenge, What MHI, WHA’s Amy Bliss Said

Restraint of Trade, Manufactured Housing Institute, Clayton Homes, 21st Mortgage, Vanderbilt Mortgage, and Antitrust Law

Examining Derek Thompson’s Atlantic Report on ‘Mobile Home’ Retail Market as Fastest Dying Business In America

Court Rules That Sierra Club Has Standing to Sue DOE Over Manufactured Housing Energy Standards

Manufactured Home Production Decline Persists As 2019 Begins

HUD Code Manufactured Home Production Decline Persists – Time For Action Not Excuses

“The Illusion of Motion Versus Real-World Challenges”

Independent National Manufactured Housing Post-Production Association Takes Major Step

MHARR Releases Study Recommending Independent Collective Representation for Post-Production Sector

 

 

 

 

 

 

 

To submit a news tip, please click here: iReportMHNewsTips@MHMSM.com


National Association of Home Builders CEO Jerry Howard Declining Housing Affordability, Plus MH Market Updates

March 19th, 2019 No comments

CNNmone3.19.2019ManufacturedHomeStocksMarketsReportsMHProNewsHousing affordability is down from 8 out of 10 buyers 10 years ago, down to 5 out of 10 home shoppers today, says the NAHB’s Jerry Howard CEO in today’s Fox Business video. On a day when most manufactured housing tracked stocks slid, as did the broader markets the interview with NAHB’s Howard takes our featured report spotlight this evening.

 

If you’re new, already hooked on our new spotlight feature – or are ready to get the MH professional fever – our headline report is found further belowafter the newsmaker bullets and major indexes closing tickers.

 

The evolving Daily Business News market report sets the manufactured home industry’s stocks in the broader context of the overall markets.  Headlines – at home and abroad – often move the markets.  So, this is an example of “News through the lens of manufactured homes, and factory-built housing.” ©

Part of this unique evening feature provides headlines – from both sides of the left-right media divide – which saves busy readers time, while underscoring topics that may be moving investors, which in turn move the markets.

Readers say this is also a useful quick-review tool that saves researchers time in getting a handle of the manufactured housing industry, through the lens of publicly-traded stocks connected with the manufactured home industry.

This is an exclusive evening or nightly example of MH “Industry News, Tips and Views, Pros Can Use.” © It is fascinating to see just how similar, and different, these two lists of headlines can be.

Want to know more about the left-right media divide from third party research?  ICYMI – for those not familiar with the “Full Measure,” ‘left-center-right’ media chart, please click here.

 

CNNFoxNewsLeftRightMediaBiasDailyBusinessNewsMHproNEwsSharylAttkisson

MHProNews looks at issues from a wide variety of perspectives.

 

Select bullets from CNN Money…

  • Boeing has been here before
  • What four fatal crashes from the 1960s say about the 737 Max crisis
  • The mosque attack video was viewed live on Facebook only 200 times. That was enough
  • LIVE UPDATES Markets dealt brief scare by China trade report
  • Lyft is losing a lot of money. And it might not turn a sizable profit until 2023
  • Google launches new streaming service just for video games
  • Facebook settles lawsuits alleging discriminatory ads
  • Levi’s and Lyft could kick the IPO market into high gear
  • JPMorgan Chase’s CEO says the US strategy on tariffs might have worked
  • Facebook apologizes after mistaking Trump social media director for a bot
  • Starbucks is changing up its rewards program. Here’s why
  • Avoid getting sick when you travel for work
  • Popular beauty startup Glossier hits unicorn status
  • Meet Silicon Valley’s ‘China whisperer’
  • Apple announces faster, smarter iMacs
  • Prada slips in China as Louis Vuitton and Gucci power ahead
  • Payless went kaput. That doesn’t mean DSW has to follow
  • West Elm is partnering with Rent the Runway to rent out home decor
  • Victoria’s Secret will close 53 stores as struggles mount
  • Elon Musk’s failure to comply with court order is ‘stunning,’ SEC says
  • Musk: SEC wants to trample on my freedom of speech
  • Investor: Have to take ‘good and bad’ with Elon Musk
  • Elon Musk isn’t a liability to Tesla. He’s a ‘liability for himself’

Select Bullets from Fox Business

  • Here’s how much 2020 Democratic candidates have raised
  • Trump administration proposes limit on student loan borrowing
  • Powerball $550M lottery jackpot: Here’s the tax damage
  • USC may expel students linked to admissions cheating scandal
  • Joy Villa slams millennials: I’m ashamed of my people
  • Midwest farmers’ struggles compounded by devastating floods
  • Fox, Disney prepare to close transformative $71.3 billion deal
  • Venezuela regime change gaining momentum, John Bolton says
  • Mike Trout, Angels reach $430M contract extension, richest deal in sports history: Report
  • Jeffrey Epstein was said to be a witness against Wall Street; an FBN investigation suggests otherwise
  • K-Cups for booze? Budweiser owner, Keurig’s single-use cocktail machines officially roll out
  • Instagram testing in-app shopping feature
  • Google unveils Stadia video game streaming service, reveals launch window
  • Starbucks revamps rewards program to woo customers with more perks
  • Chinese buyer spends a record $1.4M on racing pigeon
  • Facebook to change ad targeting policy to settle discrimination lawsuits
  • Lori Loughlin, Felicity Huffman $500B lawsuit the tip of iceberg: Judge Napolitano
  • Venezuelan parents with children in hospitals terrified Maduro will cut off care: Trish Regan
  • The federal government should default on its debt
  • Trish Regan: Alt-left’s lack of decency on full display in Chelsea Clinton attack
  • 5 ways Bernie Sanders-style socialism would hurt the US economy
  • Trump: Very unhappy McCain didn’t repeal, replace ObamaCare
  • New Yorkers consider Alexandria Ocasio-Cortez a ‘villian’ for Amazon pullout: Poll
  • Las Vegas’ potential big bet on Boring Company

Today’s markets and stocks, at the closing bell…

9MarketIndicatorsYahooFinance3.19.2019DailyBusinessNeawsManufacturedHousingIndustryStocksMarketsReportsDataMHProNews

 

Today’s Big Movers

For all the scores and highlights on tracked manufactured home connected stocks today, see thBloomberg graphic, posted below.

Today’s MH Market Spotlight Report –

NationalAssociationHomeBuildersNAHBCEOJerryHowardDeclingingHousingAffordabilityPlusMHMarketUPdatesDailyBusinessNewsMHProNews

Besides the NAHB’s Jerry Howard and the rest of this panel discussing that’s causing the dip in housing affordability, there is also a discussion about Sen. Elizabeth Warren’s housing plan.

 

One of the panelists laments rents over 30 percent of income but appears to have an inadequate sense of the law of supply and demand.

As is often the case on such discussion, manufactured housing is not even mentioned.  This is a problem for the industry, which 20 years ago was 1 in 3 new housing starts in many states.  Now, it is more like 1 in 10, even though affordability is an issue.  Manufactured homes are snoring, instead of roaring.

See the related reports for a new set of outlines on causes, effects, and the path toward solutions that will spark more manufactured home industry growth.

Related Reports:

Subsidized Housing vs Manufactured Homes, Community Owner Marge Clark Sounds Off

 

Cha-Ching! Manufactured Housing Made Simple in 2019

Fix MH Industry Trick$ – Special Meeting at Tunica Show

 

 

Bloomberg Closing Ticker for MHProNews…

NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services.

NOTE: The chart below covers a number of stocks NOT reflected in the Yahoo MHCV, shown above.

NOTE: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).

3.19.2019DailyBusinessNewsManufacturedHousingConnectedMarketReportsBloombergMHProNews

 

Berkshire Hathaway is the parent company to Clayton Homes21st Mortgage, Vanderbilt Mortgage and other factory built housing industry suppliers.

LCI Industries, Patrick, UFPI and LP all supply manufactured housing.

AMG, CG and TAVFX have investments in manufactured housing related businesses.

Your link to industry praise for our coverage, is found here.

For the examples of our kudos linked above…plus well over 1,000 positive, public comments, we say – “Thank You for your vote of confidence.”

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsWe Provide, You Decide.” © ## (News, analysis and commentary.)

(Image credits and information are as shown above, and when provided by third parties, are shared under fair use guidelines.)

Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.

To submit a news tip, please click here: iReportMHNewsTips@MHMSM.com


Fix MH Industry Trick$ – Special Meeting at Tunica Show

March 19th, 2019 No comments

 

FixMHIndustryTricksSpecialMeetingTunicaManufacturedHousingShowDailyBusinessNewsMHProNews

The past is there to learn from. Avoiding prior mistakes is something that savvy and successful professionals do.

 

A close look at the facts reveal that few fields have more upside growth potential as HUD Code manufactured housing does. Yet the industry is underperforming, as even publicly traded MHI members indicate in their investor packages. The production/shipments by year graphic below is just one of several, another is linked here. Underperformance is a widely acknowledged fact.

 

ManufacturedHousingVsTotalCompletedHomesLegacyHousingS1FilingIPODailyBusinessNewsMHProNews

Legacy clearly believes in the future of the business, because they are raising capital to expand their retail base.  This graphic reflects that manufactured housing is underperforming, which means it has a large upside potential.  This graphic should not be construed to reflect Legacy or any other firm’s position on a new trade group, that will be determined in the days ahead. 

 

We respect the right of others to have their own trade group or alliances, so long as they operate within the bounds of sound business ethics and the law.  But it is time to give the industry’s independent professionals to have their own positive choices.  That will be the focus of a special meeting at the Tunica Manufactured Housing Show.

 

 

Pro-Growth, More Happy Customers, More Profits

We believe that the experiences from the Manufactured Housing Institute (MHI) can lead to a creation of a superior pro-growth trade group.

We can take the best elements of each industry trade association, while avoiding the pitfalls that has led our once far greater industry to its currently low levels of sales and production.

A good post-production trade association has three core functions.

P.E.P.ProtectEducatePromoteMHProNews

 

Protect. Educate. Promote. P.E.P.

There can and should be subsets and other opportunities that come with those 3 core trade association functions. Networking, events, business development, image building, and more are part of those add-ons or subsets to P.E.P.

It can all be discussed at Tunica next week.

At present, almost all segments of manufactured housing would benefit from more sales, more profitable sales, and more happy customers that would refer their friends.  But that said, the reason that the industry isn’t reaching its potential is because some firms apparently believe that they benefit from low sales volumes.  Others may not realize that greater sales levels are possible.

Never forget that Rollohome went from start up to 60,000 homes built and sold in 2 years. If some operation could achieve that before, it can be done again now. Potentially, that could be accomplished faster and better than the prior example.

 

Who Benefits from More Rapid Growth?

In no particular order of importance, think about all the groups that can benefit from more rapid, ethical, and sustainable growth.  In no particular order of importance:

 

  • Retailers
  • Communities
  • Developers
  • Investors
  • Financial Services firms (lenders, insurance, etc.)
  • Transporters
  • Installers
  • Services
  • Suppliers
  • Attorneys, professional services providers, and other experts
  • Most Independent Factory Producers

 

Nuts and Bolts of the MH Fix Meeting

On the final day of the Tunica Manufactured Housing Show – March 28,.2019, after the show is over, so as not to disturb in any way those events – a coalition of interested independent industry parties has commissioned and sponsored a meeting. While MHProNews is involved in promoting and organizing, this will be an industry meeting with various interests represented that are supporting the effort.

Those supporters share a common desire for positive industry growth.

Albert Einstein and others smart people past-or-present have said that one begins by understanding the current problems. Once the problems are understood, then solutions are proposed that address those core challenges in a reasonable fashion.

That will be our plan for this meeting. Outline challenges, propose solutions, orderly discussions, and invitations for next steps. So, this meeting and related discussions will help set the direction for how new and current groups can interact successfully for the growth of robust, positive growth of the industry.

 

standing-room-only-2014-louisville-manufactured-housing-show-seminar-room-masthead-blog-mhpronews-com-

Standing Room Only presentations previously organized by MHProNews.

 

Management By Objective (MBO) – Sustainable Growth Potential$

Amazon’s Alexa investment fund in 2018 estimated that the potential market for prefab homes sales in the U.S. is about $330 billion dollars a year. Manufactured housing finished 2018 with some $8 billion dollars a year in retail sales.  So, the growth potential is significant.

The ‘MH Fix the Tricks meeting will have three segments.  One will be by Special Invitation only, and that one will be for independent producers of manufactured housing. That will be the last session on the afternoon of Thursday March 28th, 2019.

Two sessions will proceed that manufacturers meeting, and both will have limited seating.  Some are already booked.

Here is the working outline for that MH Fix the Tricks Meeting at Tunica. The specifics to be updated via the MHProNews email list. Make sure you and your colleagues are signed up and getting those emails, see the link here or further below the byline to sign up in seconds.

 

1)        Identify Current Issues, their Causes, and Contributing Factors. There are those who think that businesses in the manufactured home industry is doing great. It has improved since 2011. But others believe that the industry is still hovering at only about 25 percent of the HUD Code manufactured home industry’s last high in 1998, and far lower still from its historic peak.  Meaning, manufactured home businesses could be performing much better. We will look at those issues – causes and effects of historically low results and public acceptance – in session one. Specific leaders at Clayton Homes, 21st Mortgage, MHI, and their attorneys will be invited to attend and address the discussion to be held at this session. This will be a transparent discussion of specific allegations, flops, and failures. It will include, but not be limited to a discussion of market place rigging and restraint of free trade. Outside authorities will be invited to this session too. The discussion will be moderated. This isn’t a legal setting, it’s a discussion. Thankfully in America, we are all innocent in the eyes of the law until proven guilty, a plea is made, or other settlements are reached. Clayton, MHI, et al have the right to remain silent, or to speak and allay industry concerns that will be presented. It will likely be a lively session.

A Question and Answer segment will follow.

 

2)        What a New Post-Production Trade Association Should Address and Do. National Association of Manufactured Home Community Owners (NAMHCO)

Louisville-2014-manufactured-home-show-seminars-standing-room-only-204x129

Standing room only presentations organized by MHProNews for industry growth.

and the Manufactured Housing Association for Regulatory Reform (MHARR) will both be invited to this session. That session won’t be open for MHI staff or leaders. An outline will be presented that will aim to avoid the industry’s past post-production mistakes, and will set the goal of rapid and sustained growth for the members of this planned new trade group or alliance. Note again, that while MHProNews will participate, this is a broader effort that will involve a range of independent industry interests, personalities, and firms. Once the preparations are finished, an independent nonprofit trade group will be formed.

A Question and Answer segment will follow.

 

3) The Final Session will be for independent factory-producers, and it will be an invitation only event limited to builders of HUD Code manufactured homes. MHARR members and others will be participate in this discussion, but is open to non-MHARR producers.

A Discussion with Question and Answer segment will follow.

 

The meeting plan will include refreshments and breaks between each of the 3 discussions noted above. A total of about 3 hours and 30 minutes is planned. Further details will come via MHProNews emails.  That start time will be shortly after noon on Thursday, so as not to interfere with the Tunica Show, and was discussed with Tunica Show management.

 

Do and Don’t Do

  • Note that we are not calling for any boycotts of other trade groups, or of other firms.
  • If some business or professional wants to be a member of more than one trade association, that is their right, which we will respect.
  • Our goal is to work within the letter and spirit of the law and in a way that will inspire confidence for those involved, the home buying public, current manufactured home owners, public officials, advocates, other nonprofits, etc.

 

After the Organizing

This planned trade association or alliance, has the working name of MHIdeals.’  That name is subject to change by the group that will form this planned pro-growth, solution and goal focused post-production trade group.

Once a new sustainable and ethical pro-growth-focused trade group is established, it will interface with other existing industry associations as much as is warranted and possible. The new ‘MHIdeals’ will work with Government at all levels, media, academics, the housing seeking public, and other interested organizations such as the Government Sponsored Enterprises, investors, and capital sources.

Among the Goals…

The goals could be simplified by saying that current and favorable federal laws should be enforced.  Practical problems will be identified, solutions will be advanced. Instead of years posturing effort, rapid results will be the goal. See the related report, linked here. Some specifics:

 

  • To simplify placement and zoning issues, so that more manufactured homes can be sold.
  • To address financing and capital access, so that independents don’t have to worry about lender(s) that the industry is arguably too dependent upon today.
  • To educate the public, and work with residents as possible to Protect, Educate, and Promote the growth of manufactured housing as the most accepted form of quality affordable housing.

 

With those in mind, for example, MHIdeals will work with the GSEs, FHA, USDA, and VA other lenders to operate in a robust way to support manufactured home loans.  The goal is simple. To enforce laws already on the books, for the benefit of most business, home owners and home seekers.

Hypothetically speaking, if another trade association were to become an obstacle to those goals for almost any reason, MHIdeals would commit to pursue the greater good of the organization as outlined.  So, as an example for discussion’s sake, if MHI were continue to posture, foot drag, other otherwise take steps that purportedly benefit only a few big businesses, then MHIdeals would work in opposition to MHI. But if MHI suddenly ‘saw the light,’ then the new group would work with others including them to achieve the goals as outlined.

We believe that MHI may have to pivot as a result of the formation of such a group.  But if not, MHIdeals will work with consumers, other nonprofits, legal authorities, etc. to vigorously pursue our agenda and make our case direct to public officials and the home buying public.

 

MHIdeals – Make Doing Business As an Independent Easier and More Profitable

MHIdeals members should commit to a code of ethics and certain standards that would be enforced for the greater good.

Our goal will be about mutual victories. We will oppose unethical and illegal practices, to protect the reputations of those who want to earn an honest living by serving the housing needs of our fellow Americans.

That is the transparent outline. We will dig into the details at the meeting. MH Professionals from other parts of the U.S. are welcome to attend, within the guidelines noted above.

 

The Good News Is…

After years of exploring the causes manufactured housing’s historically low sales levels, and the impressive opportunities, the good news is that proven paths already exist to grow industry results. The law and the facts – properly understood and advocated – are on the industry’s side.

So growth should follow. Here is an example of how a new trade group can help grow retailer sales, which will widely benefit the industry.

The Manufactured Housing Improvement Act of 2000 gave the industry enhanced preemption. MHProNews – looping in MHARR and others interested in protecting and supporting affordable homes – has already demonstrated in 2018 and 2019 cases where a specific type of outreach with local officials changed their minds in a matter of only a few days. That process should be repeated as necessary, and should be spearheaded by MHIdeals.

 

Slow or Faster Growth?

If you want to see the industry to continue to sell homes at low levels, and for consolidation of smaller firms to continue, or the formation of new companies to be stunted, then the MHIdeals would not be a good fit for you.

But if you believe that the manufactured home industry could grow to 5 to 10 times its current sales levels in an ethical and sustainable way, then this MHIdeals discussion and pre-organizational meeting should be attended.

Seating will be limited. Watch for our emailed updates with further details. You can RSVP via upcoming emails.

 

DeadwoodMeetingDailyBusinessNewsMHproNews

Turnout for events promoted by MHProNews are routinely strong.

 

Power and Safety in Numbers

There will be power, profits and safety in numbers.  A good post-production trade group will focus on the points noted, which can be reduced to these 3 points.  Protect, Educate, and Promote manufactured housing.

After years of exploring the causes, it is time to turn to the solutions. MHI has obviously and arguably opted to make no substantive changes. That’s their right, but it is the right of industry independents to organize for their own pro-growth interests.

The past is there to learn from.  We can take the good from other trade groups, and make something far better with the planned MHIdeals trade alliance.

That’s manufactured housing industry “News, Tips, and Views Pros Can Use” © where “We Provide, You Decide.” © ## (News, analysis, and commentary.)

 

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SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

 

 

Related Reports:

You can click on the image/text boxes to learn more about that topic.

Cha-Ching! Manufactured Housing Made Simple in 2019

Subsidized Housing vs Manufactured Homes, Community Owner Marge Clark Sounds Off

Manufactured Housing Institute’s Monthly Economic Report Spotlights Challenge, What MHI, WHA’s Amy Bliss Said

White Collar Shakedown, Fear, Hobbs Act, and Manufactured Housing Independents Struggles

 

HUD Code Manufactured Home Production Decline Persists – Time For Action Not Excuses

 

MHARR Releases Study Recommending Independent Collective Representation for Post-Production Sector

 

 

 

 

 

 

 

To submit a news tip, please click here: iReportMHNewsTips@MHMSM.com


Cha-Ching! Manufactured Housing Made Simple in 2019

March 19th, 2019 No comments

 

ChaChing!ManufacturedHousingMadeSimpleDailyBusinessNewsMHProNews

A recent report reflected the potential for the manufactured housing industry during this current affordable housing crisis. There are some 100,000,000 Americans living in rental housing. About one in seven Americans are moving this year, and every year. Manufactured homes are the most affordable type of permanent housing.

 

 

So why aren’t far more manufactured homes being sold?

Perhaps the three top reasons heard are:

  • Zoning and placement.
  • Financing and access to capital.
  • Insufficient marketplace understanding and acceptance.

 

But those 3 broad topics all have ready-made answers.

 

  • The Manufactured Housing Improvement Act (MHIA) of 2000 gives HUD Code manufactured homes federally “enhanced preemption.” MHProNews, looping in MHARR and other nonprofits/advocates, tested cases in 2018 and 2019 where local jurisdictions rapidly reversed discriminatory behavior through good communications. Properly citing enhanced preemption was part of that outcome.  The cities involved went from anti-manufactured housing legislation, to stopping such anti-manufactured home regulation.  Since it has been done before, it could be turned into a system, and done again.
  • Some fear the ‘loss’ of access to lending offered by 21st Mortgage. Why? Specific industry companies are proving they can do business with or without 21st. Beyond that, there are FHA, VA, USDA, and Duty to Serve laws already on the federal books. There’s hundreds of billions in capital that came into the U.S. in 2018. Capital access is made easier via existing state or federal programs. Rephrased, the solutions already exist.
  • Marketplace acceptance is about education, not mere marketing, both are needed. The most commonplace and harmful beliefs about manufactured home living can readily be corrected based upon facts.

 

In just 229 words after the headline, the above is the industry’s reality. It should be so simple.  Enforce existing laws that are already favorable. Promote positive facts about manufactured housing, which are already favorable. So why has the industry been so constrained?

 

  • Fear of loss is paralyzing for some.
  • Habits and behavior patterns that are obviously self-limiting.
  • Insufficient vision or motivation to make necessary changes achieve the greater sales levels and ethically earned increased profits.

 

It’s a battle between fear of loss, habits, and the opportunities that proven and positive changes can bring.  ICYMI, you can circle back later to read these linked reports above, or that can be accessed via the hot-linked text-image boxes that follow.

 

Subsidized Housing vs Manufactured Homes, Community Owner Marge Clark Sounds Off

 

One can talk about the allegations of the numerous failures by the Manufactured Housing Institute (MHI) to address pressing needs and concerns like those cited in articles from hot-linked text-image boxes above and below. Are there conflicts of interest that keep MHI from acting on behalf of most independents?

 

 

Mobile Home Militia – “Clayton [Homes] Wants Your Cornbread Too” “Join the Revolution” – ‘You Gotta Have Swagger’

 

One can review evidence of market manipulation of the industry by business units owned by Omaha, NE based Berkshire Hathaway. Those are potentially useful insights, which can also be intimidating. But federal law provides a solution for fear-based intimidation efforts that harms the free exercise of the marketplace.

 

White Collar Shakedown, Fear, Hobbs Act, and Manufactured Housing Independents Struggles

 

 

Balancing Habits or Fear of Loss vs. the Opportunities for Greater Gain

The need for millions of affordable housing units across the country are a compelling reasons why manufactured housing is underperforming. But that is an opportunity in disguise for those willing to make positive changes.

ManufacturedHomesAsPercentageofSinglefamilyHousingStartsDailyBusinessNewsMHProNewsSkylineChampionSKY780x943

 

There are a variety of proven ways that the industry’s members could advance at the local level.

There is arguably a clear need to establish an alternative alliance of association.  That alternative should be willing to do what the Arlington, VA based Manufactured Housing Institute clearly isn’t doing for whatever reasons.  Existing laws that need to be advocated and enforced would broadly advance the interests of the manufactured home industry’s independents.

It remains to be seen what the new National Association of Manufactured Housing Community Owners (NAMHCO) will or won’t do.  Time will tell.

The reason that there are federal laws like Duty to Serve (DTS) and “enhanced preemption,” to name but two of many possible points of accomplishments, is because the Manufactured Housing Association for Regulatory Reform (MHARR) worked for years to achieve those goals. They did so without a PAC, and with a fraction of MHI’s budget or resources.

Retail sales of homes, financing, capital, education and advocacy are all post-production issues.  MHI has called themselves the representatives of “all segments of factory-built housing.” If so, then it falls on MHI and their purported masters in the Knoxville metro for failing – during an affordable housing crisis – to recapture the sales levels last achieved in 1998. Or the 500,000 new home sales the MHI President Richard ‘Dick’ Jennison said could be achieved. Yet 3 out of 4 of the years – 75 percent of the time since the industry’s last peak – were during the Berkshire Hathaway era of manufactured housing. During that time, the industry dipped further following 2003.  Coincidence?

The rest are details and commentary. Will anyone at MHI, or anyone in authority with the obvious major firms from Omaha, Knoxville, their surrogates or allies prepared to argue or prove otherwise?

 

 

Stopping the Insanity Of Doing the Same Things, Over and Over

The popular definition of insanity is to keep doing the same things the same ways and expect a different result. Let’s stop the insanity in 2019. There will be a meeting for independents and investors at Tunica. Details will be posted soon. Make sure that you are signed up for our industry leading emailed headline “News, Tips, and Views that Pros Can Use.” ©

 

Phones ringing. Doors swinging. Cash registers cha-changing. Sales professionals and owners honestly singing.

That is the industry’s promising potential.

  • Fear?
  • Stuck in habits that are holding you down?
  • Or change for the better?

Fear of loss. Desire for gain. Status quo or growth?  Which way will you go?

It is arguably riskier and far more costly to stay stuck in the status quo than it is to step out and now do what is necessary.  The ROI on growth is compelling.

Let’s note that MHARR has advocated for a new post-production trade association for years.  They’ve stated that they want to work with a pro-growth post-production trade group. Such a group would be good for independents of all kinds, but arguably is good for some larger players too.  MHARR’s leaders have made clear that they want to remain an independent HUD Code producers’ association, but they nevertheless made the case in a report linked further below for a new post-production trade group.  MHARR’s leaders have also said that they will encourage as they can a new post-production trade association formation. For more details, see the linked reports below the byline, offers and notices.

The cha-ching possible in 2019 and beyond is simple. It simply requires common sense change away from the habits and fears that have increasingly paralyzed the industry since 2003. As consolidation and the failures of ever more independents has demonstrably occurred during those years since 2003, what really do most independents have to lose?

There is much to gain, and little to risk. Stay tuned for a report later today with more details on this topic, which will be addressed at the Tunica Manufactured Housing Show.

That is this morning’s manufactured home industry “News, Tips, and Views Pros Can Use” © where “We Provide, You Decide.” © ## (News, analysis, and commentary.)

 

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To report a news tip, click the image above or send an email to iReportMHNewsTips@mhmsm.com – To help us spot your message in our volume of email, please put the words NEWS TIP in the subject line.

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NOTICE 2: Readers have periodically reported that they are getting a better experience when reading MHProNews on the Microsoft Edge, or Apple Safari browser than with Google’s Chrome browser. Chrome reportedly manipulates the content of a page more than the other two browsers do.

(Related Reports are further below. Third-party images and content are provided under fair use guidelines.)

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3) Marketing, Web, Video, Consulting, Recruiting and Training Re-sources

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

 

 

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You can click on the image/text boxes to learn more about that topic.

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MHARR Releases Study Recommending Independent Collective Representation for Post-Production Sector

 

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“The Illusion of Motion Versus Real-World Challenges”

 

 

 

 

 

 

 

 

 

 

 

 

 

 

To submit a news tip, please click here: iReportMHNewsTips@MHMSM.com