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Consumer Confidence Index Report in for April

April 28th, 2017 No comments
ConsumerConfidenceIndexReportinforAprilcreditInsightDIY-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Insight DIY.

The slog of “sausage making” in Congress was a contributing factor in the April Consumer Confidence Index, as it ticked down in April, but consumer outlook for the next six months remains positive.

According to CNBC, the Index dropped to 120.3 in April, while economists were expecting the index to only fall to 122.9 for the month.

 

As Daily Business News readers are already aware, the index hit a new record high last month and its highest level in 16 years, coming in at 125.6.

The index was at 116.1 in February.

Consumer confidence … still remains at strong levels,” said Lynn Franco, director of economic indicators at The Conference Board.

Consumers assessed current business conditions and, to a lesser extent, the labor market less favorably [in April] than in March. Looking ahead, consumers were somewhat less optimistic about the short-term outlook for business conditions, employment and income prospects.”

ConsumerConfidenceIndexReportinforAprilcreditCNBC-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: CNBC.

The survey showed that individuals indicating business conditions are “good” declined to 30.2 percent in April from 32.4 percent, while those saying business conditions are “bad” increased slightly, to 13.8 percent from 13.1 percent.

Outlook for the labor market was also down slightly, as the proportion of people expecting more jobs in the months ahead declined to 23.0 percent from 23.8 percent.

 

From Confidence to Sentiment

The University of Michigan’s Consumer Sentiment Index came in at 97 for April, which was slightly below economists’ expectations of a 98 reading for the month.

Even with the dip, “there was widespread agreement among consumers on their very positive assessments of the current state of the economy as well as widespread disagreement on future economic prospects,” the university said in a statement.

Data from the Bureau of Labor Statistics (BLS) shows that over the first 100 days of the Trump Administration, the unemployment rate for 16-24 rear olds has decreased from 10.1 percent to 9.1 percent; the rate for 20-24 year olds has decreased from 8.3 percent to 7.3 percent, and the rate for 25-34 year olds has decreased from 4.9 percent to 4.5 percent.

Over 317,000 non-farm jobs have been created, and there have been surges in both the construction and manufacturing sectors.

Confidence is playing a large role,” said Mark Zandi, chief economist of Moody’s Analytics.

Businesses are anticipating a lot of good stuff – tax cuts, less regulation. They are hiring more aggressively.”

For more on the impact, and progress, of the Trump Administration’s first 100 days, click here. ##

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

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

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


Carlyle and Killam Leap, Manufactured Housing CV, Broader Markets End Week Lower

April 28th, 2017 No comments
Dailymarketwrap4282017dowjonesindustrialaveragecreditcnnmoney-manufacturedhousingindustrymarketsreportdailybusinessnewsmhpronews

Credit: CNN Money.

Noteworthy headlines on – CNNMoney – Google launches servers in Cuba. 21,000 AT&T Wireless workers could strike Monday. Exxon profits surge 122 percent, ending two-year slump. A third of Starbucks sales were made online or via app.

Some bullets from Fox Business Trump Saves NAFTA for now, U.S. borderland cheers. U.S. Congress passes short-term bill to avert government shutdown. Soft GDP weighs on Wall St but indexes up in April. Oil retreats from session high, heads for weekly decline.

 

9 Key Market Indicators, per Yahoo! Finance.

  • S&P 500 2,384.20 -4.57 (-0.19%)
  • Dow JIA 20,940.51 -40.82 (-0.19%)
  • Nasdaq 6,047.61 -1.33 (-0.02%)

 

  • Crude Oil 49.18 0.21 (0.43%)
  • Gold 1,269.30 3.40 (0.27%)
  • Silver 17.26 -0.07 (-0.43%)

 

  • EUR/USD 1.0898 0.0026 (0.24%)
  • 10-Yr Bond 2.282 -0.014 (-0.61%)
  • Russell 2000 1,400.43 -16.70 (-1.18%)

 

We Provide, You Decide.” ©

Dailymarketwrap4282017dowjonesindustrialaveragesp500nasdaqcredityahoofinance-manufacturedhousingindustrymarketsreportdailybusinessnewsmhpronews

Credit: Yahoo Finance.

Manufactured Housing Composite Value (MHCV) Ticker

Dailymarketwrap4282017yahoomanufacturedhousingcompositevaluemanufacturedhousingindustrydailybusinessnews-mhpronews

Credit: Yahoo Finance.

 

The MH Industry – Today’s Risers and Sliders

Top risers included the Carlyle Group and Killam Properties. Nobility Homes and Louisiana-Pacific Corp. led the sliders today.

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

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

Dailymarketwrap4282017bloombergtickermanufacturedhousingindustryrelatedmarketreportdailybusinessnews-mhpronews

Graphic credit, Bloomberg Ticker for Daily Business News Manufactured Housing Industry Connected Stock Market Report, MHProNews.

Berkshire Hathaway is the parent company to Clayton Homes, 21st Mortgage, Vanderbilt Mortgage and other factory built housing industry suppliers. LCI Industries, Patrick, UFPI and LP all supply manufactured housing, while AMG, CG and TAVFX have investments in manufactured housing related businesses. ##

 

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

 

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

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


Manufactured Housing Community Helps to House Students

April 28th, 2017 No comments
ManufacturedHousingCommunityHelpstoHouseStudentscreditTroyVillages-postedtothedailybusinessnewsmhpronewsmhlivingnews

Inside of the Troy Villages homes. Credit: Troy Village.

As the messages about the quality, affordability and efficiency of manufactured housing continues to make its way into the mainstream, more and more groups are taking a deeper look.

That also goes for colleges and universities.

According to TropNews, Troy Villages at Walnut Creek, which provides off campus housing for Troy University in Troy, Alabama, is already utilizing manufactured homes to help with the flood of students looking for housing due to Troy’s increasing enrollments.

The university has the capacity to house 2,348 students in its residence halls, including in the fraternity and sorority houses,” said Sara Jo Burks, assistant director of housing and residence life.

We have not started the wait list for returning students. We won’t start that until the first week of May.”

And Troy Villages is preparing to fill that gap.

We prepared to buy 100 mobile homes [sic] if necessary,” said Todd Swindall, co-owner of Troy Villages.

We currently have several new mobile homes [sic] but have space for at least 50 more mobile homes [sic] without issue. We are prepared to house as many students as we can. We are not limited to how many mobile homes [sic] we can put in.”

ManufacturedHousingCommunityHelpstoHouseStudentscreditGoogle-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Google.

Co-Owner Brad Jones agrees, and says the plan is to continue to grow the community as more students become interested.

We just wanted to do so much more,” said Jones. “We saw this as an opportunity to work with the university to help students.”

Swindall says that all of the homes are being bought new and are fully furnished.

Monthly rates for the homes range from $325 per month for shared rooms, to $500 for single rooms. All rents include water, power, sewage, internet, cable, garbage pickup and lawn care, in addition to a CrossFit Gym and a soccer field.

 

The Solution, Hiding in Plain Sight

solutionusaffordablehousingcrisishidingplainsight-mhlivingnews-billmatchneertonykovach-posteddailybusinessnewsmhpronews

Credit: MHLivingNews.

The Daily Business NewsMHProNews and MHLivingNews have covered the case for manufactured housing as a viable solution to hope for the American Dream of home ownership at a reasonable price extensively, including Bloomberg making a statement to the same effect.

The ability to significantly cut down on production time, provide a high quality product to federal standards, all at a lower price point serves as the ideal solution to inventory and housing challenges. The titans of business recognize the opportunity as well, as giants and independents alike are actually “doubling down” on the industry.

ELS Chairman Sam Zell has been famously quoted as correcting misconceptions about the industry, saying during this interview, “Everyone calls them trailer parks. Pencil head, it’s not a trailer park.

For more on manufactured housing being the solution that’s hiding in plain sight, see MHProNews and MHLivingNews Publisher L.A. “Tony” Kovach’s insight into the opportunity linked here. ##

 

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

 

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

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


Is Modular Movin’ on Up? Builder Sees Opportunity

April 28th, 2017 No comments
IsModularMovinonUpcreditMVtimes-postedtothedailybusinessnewsmpronewsmhlivingnews

A Squash Meadow home. Credit: MV Times.

On Martha’s Vineyard, style and price are par for the course. For builder Bill Potter, he saw opportunity to deliver both, with modular, at the right time at the right price.

According to MV Times, when the markets crashed back in 2008, Potter and his wife Terry started asking themselves what they could do with the company then known as Potter Construction.

That brainstorming turned into Squash Meadow, the couple’s firm combining modular construction with onsite building practices, known as hybrid prefab. This would allow higher end customers on Martha’s Vineyard to custom design their homes at an attractive price in what was a skittish economy.

With the concept in mind, the Potters were ready to begin. Then the challenges began.

But we needed a modular building partner who was willing to work with us, to change their business practices to accommodate the need of clients here,” said Bill Potter.

We made a list of seven modular construction companies in the Northeast and pitched them all on their notion. Six said no, but Westchester Modular Homes in Wingdale, N.Y., on the New York/Connecticut border, said yes.”

The two companies married their visions, and started on what would turn into a fruitful journey.

We’d been doing some green building, and we wanted to continue doing that, as well as offering more design choices, and Westchester was willing to adapt,” said Potter.

IsModularMovinonUpcreditMVtimes2-postedtothedailybusinessnewsmpronewsmhlivingnews

Bill Potter. Credit: MV Times.

Originally, Potter Construction had four employees and would hire crews when they were awarded a building contract.

Since their move to hybrid construction, the company, now known as Squash Meadow, now has a management team of ten, and Potter says that on any given day you’ll see “50 Island guys working at our work sites.”

Potter says that the hybrid model proof is in the pudding: clients see savings of 20 percent over traditional site built homes and three month completion times versus one year. For client Julie Fay and her family, they are believers.

This was a stellar experience for us. We bought our land last June, and we were fully moved in by September. Their computerized design system let us walk through every room [in the design phase] and see what our choices looked like. We got a realistic view down to appliances and interior details,” said Fay.

We wanted a green design, and we had a contractor friend look over our shoulders every step of the way. Squash Meadow could do anything. Of course some choices involved a price tag, but it was an easy and predictable process.”

 

A View from the Architectural Angle

Phil Regan, managing partner of Vineyard Haven based Hutker Architects Inc., provided his take on modular.

The modular industry is an affordable option and historically a sort of bucket of parts in dimensions of two, four and eight feet built in units small enough to be shipped. There has not been a lot of design but that is changing,” said Regan.

Modulars are not quite small houses now, but generally are under 2,000 square feet. Above that level, design plays a larger role. There is market demand for modular design but it seems to me that onsite construction and modular methods right now are like a pair of magnets — drawn to each other but when they get close, the direction starts to shift.”

An Expert Take

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Modular Home. Photo credit, Hybrid PreFab Homes.

In MHProNews’ popular, in depth interview series, “A Cup of Coffee with...” Hybrid Prefab Homes President Otis Orsburn shares important details about this.

The hybrid prefab home methodology has been readily accepted by traditional construction contractors, investors, lenders and the ultimate homeowner, ” said Orsburn.otisorsburnhybridprefabhomes-dailybusinessnewsprefabricatedmodularhomeindustry-mhpronews

Another success is creating and managing the plan set that addresses the entire vertical construction of the home.” Orsburn stated that, “Historically, this has been the largest dysfunction when building a home that is replete with factory-built nuances that traditional contractors have not dealt with before.”

Orsburn continued.

These nuances are viewed as weaknesses because they haven’t been utilized in mainstream construction. After attending my classes for general contractors, these contractors become our spokes people.”

For more on activities on bringing affordable housing options to Martha’s Vineyard, including “tiny homes,” click here. ##

 

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

 

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews

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


Clayton Homes Building Out, Giving Back

April 28th, 2017 No comments
toptrendsformanufacturedhomebuyerscreditclaytonhomes-postedtothedailybusinessnewsmhpronewsmhlivingnews

A Clayton Homes kitchen on display. Credit: Clayton Homes.

Clayton Homes, a subsidiary of Warren Buffett’s Berkshire Hathaway, has announced that it’s constructing a $14 million training lodge at its corporate headquarters in Maryville, TN.

This is part of improving the team member experience throughout Clayton,” said Chris Martin, a spokesman for Clayton. “It represents an investment the company is making in its team for years to come.”

According to the Knoxville News Sentinel, the three-story, log cabin-style lodge will replace the old lodge currently on the company’s campus.

Clayton is also working with a Dayton, TN nonprofit called Blazing Hope Ranch to re-purpose some of its old structures.

Blazing Home Ranch helps survivors of human trafficking, and says it will use some of the old buildings on the lodge site to house survivors. Vanderbilt Mortgage, the financing arm of Clayton Homes, also made a donation to Blazing Hope earlier this year.

Clayton has made a number of improvements to its site to better engage employees, including a wellness center, a cafe and a disc golf course. The lodge is designed for offsite team members to stay in when they visit Maryville for training, retreats or conferences.

ClaytonHomesBestinClassinBerkshireHathawayAnnualLettercreditReuters-postedtothedailybusinessnewsmhpronewsmhlivingnews

Buffett and Kevin Clayton. Credit: Reuters.

We have several other projects in the works to make sure our team members have a great place to work,” said CEO Kevin Clayton, also adding that the new building should be completed by June 2018.

As industry professionals and Daily Business News readers are already aware, Clayton Homes is the largest producer of manufactured homes (MH) in North America. Vertically integrated, the company has several hundred retail centers nationwide. Through its affiliates and family of brands, Clayton builds, sells, finances, leases and insures Clayton-built manufactured and modular homes.

 

The operation also buys products and uses services from other producers.

For the most recent closing numbers on all Berkshire Hathaway – and all MH industry-connected tracked stocks – please click here.  ##

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

 

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews

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


Manufactured Home Owners Catch a Break

April 27th, 2017 No comments
creditFactoryHomes-postedtothedilybusinessnewsmhpronewsmhlivingnews

A manufactured home in Colorado Springs. Credit: Factory Homes.

In Colorado, House Bill 17-1354 is music to the ears of manufactured home owners and residents throughout the state.

According to the Reporter Herald, the bill would help prevent residents from losing their homes over delinquent tax bills they didn’t know were unpaid, and is one step closer to becoming law.

The Colorado House Local Government Committee unanimously passed the bill this week.

The bill, introduced by Rep. KC Becker, (D-Boulder), would change the process for county treasurers when collecting delinquent taxes on mobile homes (pre 1976, in a permanent location) and manufactured homes by giving treasurers flexibility on collection.

It will also allow county treasurers to declare tax liens on the homes as county-held to try to address title issues with the homes and prevent them from being sold to investors.

The current law requires county treasurers to collect delinquent taxes by court action or putting mobile homes up for a tax lien and potentially being sold, leading to the eviction of the residents.

Some of the issues have stemmed from residents who are either renters or not the first owners of the home who receive the tax bills in the previous owners’ names,” said Becker.

creditDenverPost-KCBecker-postedtothedailybusinessnewsmhpronewsmhlivingnews

KC Becker. Credit: Denver Post.

They don’t open the mail or don’t realize a notice left at the residence is for them. It’s not about people evading taxes or even not wanting to pay their taxes. Then, their homes are put up for tax liens, sold for thousands of dollars and the residents are evicted.”

 

A Potentially Predatory Issue

The proposed bill also addresses another problem in an indirect way.

In what appears to be a predatory practice, investors were waiting to purchase mobile and manufactured homes via tax liens, and then reselling them at much higher rates to residents who didn’t know that they owed taxes.

Boulder County real estate broker Jill Grano became aware of the activity, and when she found out about the next tax lien sale, she bought as many liens as she could. That included 40 percent of the manufactured homes.

Then, she turned around and worked to help those same people to clear their delinquent accounts.

A lot of times, we hear a lot about problems and coming to us for solutions, and I think there is a solution here that needs to happen,” said Rep. Jonathan Singer, (D-Longmont), thanking Grano for her efforts.

But you actually came up with a good short-term goal as a solution, so thank you for that — working with the community to stave this off for a little while.”

For more on manufactured housing in Colorado, including the case of Denver Meadows Mobile Home and RV Park owner Shawn Lustigman and the community’s residents at odds, click here. ##

 

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

 

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews

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


Patrick Rises Over 3 Percent, Manufactured Housing CV Broader Markets Jump

April 27th, 2017 No comments
Dailymarketwrap4272017dowjonesindustrialaveragecreditcnnmoney-manufacturedhousingindustrymarketsreportdailybusinessnewsmhpronews

Credit: CNN Money.

Noteworthy headlines on – CNNMoney – United and dragged passenger reach settlement. Southwest Airlines: We won’t overbook anymore. China’s Uber worth $50 billion after raising more cash. 10 things United is doing to avoid another dust-up.

Some bullets from Fox Business Amazon’s first-quarter profit, revenue beat estimates, United continues damage control as Delta PR nightmare begins. Earnings lift Nasdaq to record while Dow, S&P drift. Oil prices fall after Libyan oilfields restart.

 

9 Key Market Indicators, per Yahoo! Finance.

  • S&P 500 2,388.77 1.32 (0.06%)
  • Dow JIA 20,981.33 6.24 (0.03%)
  • Nasdaq 6,048.94 23.71 (0.39%)

 

  • Crude Oil 49.24 -0.38 (-0.77%)
  • Gold 1,265.30 1.10 (0.09%)
  • Silver 17.20 -0.16 (-0.91%)

 

  • EUR/USD 1.0874 -0.0029 (-0.26%)
  • 10-Yr Bond 2.296 -0.015 (-0.65%)
  • Russell 2000 1,417.13 -2.30 (-0.16%)

 

We Provide, You Decide.” ©

Dailymarketwrap4272017dowjonesindustrialaveragesp500nasdaqcredityahoofinance-manufacturedhousingindustrymarketsreportdailybusinessnewsmhpronews

Credit: Yahoo Finance.

Manufactured Housing Composite Value (MHCV) Ticker

Dailymarketwrap4272017yahoomanufacturedhousingcompositevaluemanufacturedhousingindustrydailybusinessnews-mhpronews

Credit: Yahoo Finance.

 

The MH Industry – Today’s Risers and Sliders

Top risers included Patrick Industries and the Carlyle Group. Skyline and Nobility Homes led the sliders again today.

Skyline’s share price was down 2.19 percent today, and is now at $6.24.

 

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

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

Dailymarketwrap4272017bloombergtickermanufacturedhousingindustryrelatedmarketreportdailybusinessnews-mhpronews

Graphic credit, Bloomberg Ticker for Daily Business News Manufactured Housing Industry Connected Stock Market Report, MHProNews.

Berkshire Hathaway is the parent company to Clayton Homes, 21st Mortgage, Vanderbilt Mortgage and other factory built housing industry suppliers. LCI Industries, Patrick, UFPI and LP all supply manufactured housing, while AMG, CG and TAVFX have investments in manufactured housing related businesses. ##

 

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

 

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

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


Is Time Finally up for the CFPB?

April 27th, 2017 No comments
IsTimeUpForTheCFPBcreditPintrestWhattheFolly-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credits: Pinterest, What the Folly.

Movement by the House Financial Services Committee, led by Chairman Jeb Hensarling (R-TX), could spell the end for the Consumer Financial Protection Bureau as we know it.

According to ACA International, the committee debated the future of the Financial CHOICE Act during a hearing yesterday.

Originally introduced by Hensarling in 2016, the CHOICE Act included a proposal to replace the CFPB with a five-member bipartisan commission that would be subject to congressional oversight and appropriations.

The Financial CHOICE Act re-establishes this rogue agency as a civil enforcement agency, patterned after the Federal Trade Commission. One that is responsible for actually enforcing the enumerated consumer protection laws written by Congress, instead of making up its own law in an unfair, deceptive, and abusive manner,” said Hensarling.

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Jeb Hensarling. Credit: House.gov

True consumer protection is only to be had in competitive, transparent and innovative markets which are vigorously policed for fraud and deception. That’s what the Financial CHOICE Act is all about.”

Recently, Hensarling introduced a 593-page draft of the act, which included a number of revisions. One of them includes changing the name of the CFPB to the Consumer Law Enforcement Agency (CLEA), and a director would lead the agency along with a deputy director, who could be removed at will by the President.

The CLEA would also be required to receive funding through congressional appropriations for the agency.

DecisionsinCFPBAppealcreditHousingwireCFPB-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credits: Housingwire, CFPB.

Under the new provisions, President Trump would have the authority to appoint an Inspector General for the organization no later than 60 days after the law takes effect. The inspector general would be required to testify at semi-annual hearings before the House Financial Services and Senate Banking Committees.

In the summary of the draft bill, the stated intention is to “create hope and opportunity for investors, consumers, and entrepreneurs by ending bailouts and ‘Too Big to Fail,’ holding Washington and Wall Street accountable, eliminating red tape to increase access to capital and credit, and repealing the provisions of the Dodd-Frank Act that make America less prosperous, less stable, and less free, and for other purposes.”

For critics of the CHOICE Act, and the dismantling of the CFPB, they see things differently.

CordrayDefiantSaysTrumpWon’tChangeAgencycreditWikipediaMaxineWaters-postedtothedailybusinessnewsmhpronewsmhlivingnews

Representative Maxine Waters. Credit: Wikipedia

A number of law makers, including Rep. Maxine Waters (D-CA), argue that the act would remove consumer, business and investor financial protections and that the CFPB should not be dismantled and replaced with the CLEA.

Rep. Brad Sherman, (D-CA) says that bills included within the act should be voted on separately, with good reason.

These bills will pass this committee overwhelmingly if we consider them separately,” said Sherman.

As Daily Business News readers are aware, critics of the CFPB point to leadership structure, data collection and so-called “trophy wins” as issues that need to be addressed. A D.C. Circuit Court ruled that the CFPB was unconstitutional, in the case legal action brought by PHH.

The court ruled that the CFPB’s structure was constitutionally flawed and that its director should be removable at the will of the president.

CompanyMovesinfortheKillonCFPBcreditFlickrPHHCFPB-postedtothedailybusinessnewsphonewsmhlivingnews

Credits: Flickr, CFPB, PHH.

The CFPB is an unaccountable federal agency, as exemplified in the case PHH Corp., et al. v. Consumer Financial Protection Bureau,” said Norbert Michel, senior research fellow, Financial Regulations and Monetary Policy Institute for Economic Freedom and Opportunity at The Heritage Foundation.

The PHH incident is a clear-cut case of an unaccountable federal agency flouting the basic principles of the rule of law. Private firms—financial or otherwise—cannot safely operate in such an environment without the expectation of being wrongly persecuted by the government that is supposed to protect all of its citizens from such actions.”

Congress can do even better by consolidating the various consumer financial protection statutes under one existing federal agency, such as the [Federal Trade Commission.]”

Another Texas Republican cut straight to the point.

The CFPB is one of the most unacceptable and unaccountable agencies in the United States,” said Rep. Roger Williams. “This is what Dodd-Frank gave us and that is why it is so important to fix this disastrous law.”

According to Bloomberg, a markup for the legislation is reportedly scheduled for May 2.

 

The View From the MH Industry

IDontThinkThereWasEverMuchHighCostLendingInTheManufacturedHousingMarket-stillcreditCSPAN2--RichardCordrayCFPBdirector-Posted-MHLivingNews-com-

Still from an Inside MH video, reflecting how Richard Cordray himself said that there was never much high cost lending in the manufactured housing industry market.

While the CFPB had the support of the Obama Administration, the Trump Administration has had the organization in its crosshairs since the election.

Those in the industry have not been shy about their feelings on the matter.

The information on this case also has indirect ramifications for the Manufactured Housing Institute (MHI), and others in the industry, as the Preserving Access bill is being floated, which would modify portions of Dodd-Frank.

For more on what the Preserving Access bill means for the industry, check out the latest article on The Masthead.

For more on the CFPB’s impact on the manufactured housing industry, click here. ##

 

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

 

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews

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


More First Nations Turning to Modular

April 27th, 2017 No comments
MoreFirstNationsTurningtoModularcreditCBC-postedtothedailybusinessnewsmhpronewsmhlivingnews

Modular homes being moved into place on the Yale First Nation. Credit: CBC.

Throughout Canada, many First Nations native tribes are struggling with the dual challenge of quality, and affordable, housing.

Mold and other natural elements, when combined with overcrowding, present issues tribal members call a “sad reality.”

The solution, they believe, lies in modular housing.

According to the CBC, the Yale First Nation in British Columbia has started to move forward with utilizing modular, with Britco in to construct six new family units.

With the ability to heat the homes for much less, and the homes being able to last longer, utilizing them was an easy choice, especially as older homes were falling apart.

They were dilapidated, one was condemned and demolished and the other cost us $100,000 just to renovate,” said Crystal Sedore, Yale First Nation’s housing manager.

The Yale First Nation homes were built using what’s known as passive technology, in which the units face the sun, have thicker walls and multiple layers of insulation, which lowers heating bills by as much as 80 percent. Heat from stoves and dryers are also recycled to heat the rest of the homes, which are airtight.

Members of the Yale First Nation started to move into the homes on April 1st.

As far as we’re aware, this is the very first passive house built on a reserve,” said Sedore.

The results, so far, are positive. The nation is so pleased that four additional homes are now being constructed.

kashechewanfirstnationreturnhomenewmodularhousingwelcomesthemcreditcbc2-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: CBC.

The Daily Business News has covered a number of stories about First Nation’s utilizing modular housing, including the case of the two-and-a-half-year saga for the Kashechewan First Nation of Northern Ontario.

In December, eight families started moving back into new modular homes delivered over the summer.

Families were expected to continue to return through the winter and spring months with all 104 modular homes full by August 2017.

The plan is to fly a handful of families back to Kashechewan every few weeks, with the goal of having everyone home by the end of the summer,” said Kapuskasing fire chief Gerry Desmeules.

When they left Kashechewan two and a half years ago now, they basically left with a small duffle bag with some clothes. They’ve basically rebuilt their memories and all their personal property and stuff while they were here in Kapuskasing.

The full story is linked here. ##

 

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

 

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews

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Bark Worse than Bite? Manufactured Housing Institute Slams Trump Administration Lumber Tariffs

April 27th, 2017 No comments
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Credits: MHI, MHProNews, GraphicClick.

Comments from Commerce Secretary Wilbur Ross on CNBC yesterday regarding proposed anti-subsidy tariffs on Canadian goods raised quite a stir.

The tariff is not the beginning of a trade war with Canada,” said Ross.

It shows President Trump is making good on promises to hold Canada accountable for unfair practices such as those that have hurt American dairy farmers.”

And, for lack of a better term, one “shark” was swimming in the waters and shared his feelings on the matter.

By the time it’s over softwood lumber, automotive parts, milk would all need to be renegotiated,” said investor and star of the TV show Shark Tank, Kevin O’Leary, who is also running to lead Canada’s Conservative Party.

If all of a sudden we have to say let’s get rid of supply-side management in Canada, you have to do it in Vermont. You have to do it in Wisconsin. And by the way, the milk market in the United States is 10 times bigger. You will wipe out millions of farmers and the supply chain and all the people they work with.”

Canadian Foreign Minister Chrystia Freeland pointed out that the actions by the U.S. had not started a trade war, but instead mentioned that Washington D.C. needed to better understand the situation.

You need our lumber. You need our lumber to build your homes,” said Freeland.

Lumber prices are already very high in the United States. They’ve gone up about $3,000 per house this year, and for every $1,000 in increase of the price of a house, U.S. homebuilders estimate that means another 150,000 U.S. families can’t afford a home.”

 

MHI Weighs In – Who’s Manning the Train?

The Manufactured Housing Institute (MHI) weighed in on the matter.

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MHI meetings are closed to journalists and reporters, even pro-industry trade reporters. Why? Photo credit, MHProNews, MHI logo is that organization’s intellectual property.

MHI has long advocated that consumers need access to a stable, dependable and affordable lumber supply. Canadian imports of softwood lumber account for as much as one-third of the lumber used in the construction of manufactured homes,” said MHI in a release.

MHI is concerned that these tariffs on softwood lumber will have negative repercussions for consumers because of the increased cost of materials. According to the Department of Commerce, imports of softwood lumber from Canada in 2016 were valued at an estimated $5.66 billion.”

MHI has said in recent weeks that they have wanted to head off a potential tariff issue, and also announced that it has joined the American Alliance of Lumber Consumers (AALC), a coalition of business groups who support open trade in lumber and building materials.

AALC members include the National Association of Home Builders, the National Retail Federation, and the National Lumber & Building Material Dealers Association.

The American Alliance of Lumber Consumers believes that unilaterally imposing punitive tariffs is counterproductive and could create large and unpredictable swings in the cost and supply of lumber. We urge the U.S. and Canada to work quickly and cooperatively to achieve a long-term solution to resolve this ongoing trade conflict,” the organization said in a statement.

It is important to note that pro-Trump Administration industry sources are concerned that MHI’s staff don’t understand President Trump’s America First, American Jobs thinking.

Those same sources point out that about half of MHI team members, by design, are Democrats. MHI says that they want this mix, in order to give them “balanced access” to either party in Washington D.C.

One week before the U.S. Presidential election in November, MHI hosted two featured speakers at their meeting in Chicago, who were pro-Clinton.

This fact poses an interesting question: are the Democratic voices conducting the train on MHI’s handling of the tariff topic?

 

Another View of the Story – More Bark Than Bite?

Canadian Lumber. Credit: Breitbart News.

An analysis from Breitbart News digs deeper, and shows that there may be more bark than bite in President Trump’s move.

For one thing, lumber prices actually declined after the tariffs were announced. Lumber futures fell on Tuesday by the $10 exchange limit in Chicago, a 2.5 percent drop. The prices of Canadian lumber companies rose, some sharply. Shares of Canfor Corp were up by 8.09 percent on Tuesday and West Fraser Timber Co. Ltd. rose by 2.37 percent,” said writer John Carney.

John Carney. Credit: Breitbart News.

As it turns out, the 20 percent tariff was smaller than what the market expected. The Trump administration has actually adopted a gentler policy on Canadian lumber than analysts and investors had forecast.”

Carney also points out that the lumber tariff is more accurately understood as a symbolic gesture by the Trump Administration, aimed at giving its “America First” stance additional face time. It’s intended target, says Carney, are trading partners in Europe, Japan and Mexico. The move sends a message without impeding larger trade flows.

The Trump administration also hoped the move would be welcomed by economic nationalists, first announcing the tariffs at a meeting with conservative journalists on Monday night,” writes Carney.

Many of Trump’s economic nationalist supporters have become increasingly concerned that the administration may be backing away from America First trade stance that was central to its electoral victory in November.” ##

 

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

 

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews

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