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Bank of America Small Biz Loans, Insights, Plus Manufactured Housing Market Updates

April 26th, 2018 No comments

CNNmoney4.26.2018ManufacturedHomeStocksMarketsReportsMHProNewsSharon Miller with Bank of America provided keen insights on small business services, their enthusiasm, concerns, and related. That will be our focus report this evening. 

If you’re new, already hooked on our new spotlight feature – or are ready to get the MH professional fever – our headline reports are found further below, just beyond the Manufactured Housing Composite Value for today.

 

The evolving Daily Business News market report sets the manufactured home industry’s stocks in the broader context of the overall markets.

Part of this unique feature provides headlines – from both sides of the left-right media divide – that saves 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.

MH “Industry News, Tips and Views, Pros Can Use.” ©

ICYMI – for those not familiar with the “Full Measure,” ‘left-right’ media chart, please click here. 

Selected headlines and bullets from CNN Money:

  • 6 new Gmail features worth trying — and how to get them now
  • Meet the new Gmail, now with disappearing messages
  • When a robot is your co-worker
  • The US has moved on Huawei and ZTE. That doesn’t bode well for Alibaba
  • Will Amazon’s winning streak continue?
  • Goldman Sachs warns against falling in love with stock buybacks
  • Pepsi vs. Coke — the new cola wars are here
  • Domino’s delivers awesome sales and profits
  • Chipotle stock soars nearly 10%, thanks to price hikes and new stores
  • Why corporatizing feminist messages doesn’t really help women
  • One of the most powerful women at Nike shares how to run a successful team
  • How Richard Branson went from high-school dropout to billionaire entrepreneur
  • Snapchat takes another swing at Spectacles
  • Snapchat can’t catch a break
  • Oil prices could keep rising. Here’s why
  • Deutsche Bank profit plummets 79%
  • The big myth about America’s pension crisis
  • Starbucks will try to get past PR crisis by wowing Wall Street
  • Southwest bookings fall after fatal accident
  • Who loses if Trump kills the Iran deal?
  • Trump’s call to ‘Fox and Friends’ explains why we don’t hear much from him
  • Trump furious with his Justice Dept.
  • How the NFL draft went from a hotel ballroom to an all out spectacle

Selected headlines and bullets from Fox Business:

 

  • Stock markets rally on boost from technology
  • Wells Fargo under fire for retirement plan practices
  • UPS offers early retirement to managers to cut costs
  • Mortgage rates climb to highest level in four years
  • NFL draft rookie contract scale: How much players will earn
  • As usual, quarterbacks are expected to be hot commodities.
  • California gasoline tax hike repeal said to draw sufficient support for November ballot
  • Mike Pompeo owned Kansas aerospace company before political career
  • Chipotle surges as higher menu prices boost earnings
  • War for talent shakes up small business in US
  • Levi’s jeans draw New York City environmental protest
  • Subway could close up to 500 North American restaurants
  • John Kerry joining TPG’s Rise Fund
  • Apple iPhone sales suffer in China as demand sees record decline
  • Tesla problems for Elon Musk piling up

 

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

S&P 500 2,666.94 +27.54(+1.04%)

Dow 30 24,322.34 +238.51(+0.99%)

Nasdaq 7,118.68 +114.94(+1.64%)

Russell 2000 1,557.89 +7.43(+0.48%)

Crude Oil 68.19 +0.14(+0.21%)

Gold 1,318.40 -4.40(-0.33%)

Silver 16.49 -0.02(-0.10%)

EUR/USD 1.2103 -0.0059(-0.49%)

10-Yr Bond 2.99 -0.03(-1.12%)

 9MarketIndicatorsYahooFinance4.26.2018DailyBusinessNeawsManufacturedHousingIndustryStocksMarketsReportsDataMHProNews

Manufactured Housing Composite Value (MHCV)

YahooFinanceManufacturedHousingCompValue4.26.2018DailyBusinessNewsStocksMarketsDataReportsMHProNews

 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 –

Sharon Miller talks about small business optimism, on US economy, lending, regulations and more with a panel on right-of-center Fox Business.

SharonMillerSmallBusinessBankofAmericaManufacturedHousingIndustryDailyBusinessNewsMHProNews

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).

4.26.2018DailyBusinessNewsManufacturedHousingConnectedMarketReportsBloombergMHProNews

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.”

We 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.)

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

Californians Addressing Affordable Housing with $300 Million “Robin Hood” Plan, Including Manufactured Homes, ADUs

April 26th, 2018 No comments

LyndaHopkins5thDistrictSonomaCountyCAManufacturedHousingIndustryDailyBusinessNewsMHproNEws

In response to the more than 5,000 homes destroyed in the October firestorm, stakeholders and county supervisors are pushing for a $300 million housing bond to be placed on the November ballot,” says Sonoma West.

 

The plan would include funds to upgrade or replace manufactured homes, or could be used for Accessory Dwelling Units (ADUs), which are often prefabs or modular.

A survey indicates 71 percent of voters support the November ballot measure.

Other CA jurisdictions have passed similar measures. “There’s a tremendous need county wide for affordable housing,” Lynda Hopkins said. “After the catastrophic fires the need only intensified.Lynda Hopkins is the Fifth District Supervisor, and spoke to the Sebastopol City Council.

SonomaCOuntyCalinforniaManufacturedHousingIndustryDailyBusinessNewsMHProNews_001

Sonoma County is near the red-hot Bay area housing market.

Supervisors are expected to consider a formal vote to put the bond on the ballot sometime in July. The Press Democrat reports 5,300 homes were destroyed in the fires that hit their county, and likewise devastated other parts of the state last year.

Sonoma West says the funding would come from, an increased “tax rate of $19.53 per $100,000 of assessed value, with a term of 26 years and a assumed interest rate of 4.56 percent, according to a working draft of the bond,” thus the term Robin Hood tax, taking from ‘richer’ property owners, and giving it to others. 

Whatever position the county takes, wouldn’t a more accepting use of manufactured homes on infill and other sites offer a private sector solution to the problem?

Out of this came a desire for a cross-jurisdictional, regional approach to addressing our affordable housing crisis,” Hopkins said.

Supervisors approved efforts to place the bond on the ballet during their April 17 regular meeting. Later that day, Fifth District Supervisor Lynda Hopkins spoke to the Sebastopol City Council to encourage feedback and support.

TheSystemHasFailedPressDemocratManufacturedHousingINdustryDailyBusinessNewsMHProNews

There’s a tremendous need county wide for affordable housing,” Hopkins said. “After the catastrophic fires the need only intensified.”

Sonoma County officials said similar affordable housing bonds in Alameda, San Mateo and Santa Clara counties have successfully been approved by voters. Hopkins said the county received positive feedback from a formal poll they undertook as part of the housing bond initiative several months ago.

In the poll, 71 percent of responders gave positive feedback to a proposed housing bond of more than the current $300 million proposed bond.

Out of this came a desire for a cross-jurisdictional, regional approach to addressing our affordable housing crisis,” Hopkins said, adding – ”This is in many ways a Robin Hood tax, where those with high-assessed property values are going to be contributing hugely to this bond.”

The county’s issues are a microcosm of what is happening in the nation’s most populous state. Housing affordability is perhaps the most pronounced in California. So on the one hand, it is encouraging to see manufactured homes being considered in this mix.

At the same time, CA is several ways, one of the more NIMBY – Not In My Back Yard – states.

As a consequence of NIMBY, “In 2016, according to the 2018 housing assessment of the California Department of Housing and Community Development, the state faced a shortfall of more than a million units for households earning between 50% and 120% of the median…” income.

If 1/3 of that million unit shortfall was filled by manufactured homes over 5 years, it would be an a huge increase over the 13,898 homes HUD Code manufactured homes sold in the that state in the 6½ years since August 2011 through February 2018.

It’s a clear example of obstacles and opportunities. The same needs exist in numerous markets from Hawaii to Boston, MA, or from Alaska to Florida. According to the researchers in the related report linked below, the choking off of affordable housing is costing the nation some $2 trillion dollars a year. ## (News, analysis, and commentary.)

Related Report:

YIMBY vs. NIMBY, Obama Admin Concept Could Unlock $1.95 Trillion Annually, HUD & MH Impact

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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.

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

2) To provide 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 Resources

SoheylaKovachManufacturedHomeLivingNewsManufacturedHousingIndustryDailyBusinessNewsMHProNews-Submitted 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.

“Wealthier Class of Buyers” for Manufactured Homes, Wall Street Journal Video

April 26th, 2018 No comments

WallStreetJournalWSJUpscaleManufacturedHomesDailyBusinessNewsMHProNews

Mobile homes” * [SIC] have traditionally served less affluent buyers, says the Wall Street Journal (WSJ), in the video posted below.

 

That may be statistically true, but the WSJ correctly points to a trend of a wealthier class of manufactured home buyers.

 

 

That’s not new for regular readers of MHLivingNews.com. We’ve interviewed a number of millionaires who live in manufactured homes, and have reported on the rich, famous and even billionaires who own their own HUD Code manufactured home.

But it may be a surprise to tens of millions of Americans.

The data from an upcoming report on the Daily Business News will underscore both the obstacles and the opportunities that the manufactured home industry has, today. Stay tuned for the news that can help you navigate the challenges, and by following common sense realities, could significantly grow your business.

Stay tuned…  ## (News, analysis, and commentary.)

  • Note: “SIC” means the typo or technical error is found in the original.

Related Report:

The Ultimate Manufactured Home Industry Fact$, Data, and Insights – Bullets plus at-a-Glance Infographic

(Third party images are provided under fair use guidelines.)

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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.

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

2) To provide 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 Resources

SoheylaKovachManufacturedHomeLivingNewsManufacturedHousingIndustryDailyBusinessNewsMHProNews-Submitted 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.

Sen. Kirsten Gillibrand’s (D-NY) Bill Would Provide Loans at U.S. Post Offices, Plus MH Market Updates

April 25th, 2018 No comments

CNNmoney4.25.2018ManufacturedHomeStocksMarketsReportsMHProNewsSenator Kirsten Gillibrand’s (D-NY) Postal Banking Act, would make retail banking services available at some 30,000 post offices nationally.  That will be our market focus for tonight.

If you’re new, already hooked on our new spotlight feature – or are ready to get the MH professional fever – our headline reports are found further below, just beyond the Manufactured Housing Composite Value for today.

 

The evolving Daily Business News market report sets the manufactured home industry’s stocks in the broader context of the overall markets.

Part of this unique feature provides headlines – from both sides of the left-right media divide – that saves 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.

MH “Industry News, Tips and Views, Pros Can Use.” ©

ICYMI – for those not familiar with the “Full Measure,” ‘left-right’ media chart, please click here. 

Selected headlines and bullets from CNN Money:

 

  • Workers and shareholders call GE an ’embarrassment’
  • Indians flock to America’s ‘golden visa’ as H-1B route closes
  • Tell us: How have the income tax cuts affected you?
  • Snapchat redesigns its app again. Stock plunges
  • Dow snaps longest losing streak in a year
  • CEO under fire for $100 million paycheck
  • Why it’s a great time to look for a job
  • How do you talk about fertility at work?
  • Can Hulu keep ‘The Handmaid’s Tale’ momentum going?
  • Fox News twists CNN’s Acosta’s words about threats to journalists
  • Comcast offers $31 billion for Sky, setting up showdown with Fox
  • Heads up Starbucks! The world’s second biggest coffee chain is gearing up
  • India’s hotly contested mobile market gets new mega merger
  • Trump says Mnuchin will visit China for trade talks ‘in a few days’
  • Should I get out of the market until it returns to sanity?
  • Even rising mortgage rates won’t stop homebuyers
  • Home prices are on an epic run
  • Diet Coke’s new flavors are a big hit
  • Lululemon has made a big comeback since its sheer pants nightmare
  • Boeing earnings are good and getting better
  • Google’s spending spree rattles Wall Street
  • Twitter is profitable again and adding users
  • Wine is about to get a lot more expensive
  • Meet the new Gmail, now with disappearing messages
  • Amazon unveils colorful Echo Dot for kids
  • Here’s what Facebook won’t let you post

Selected headlines and bullets from Fox Business:

  • Dow rises as Boeing results buoy stocks
  • Amazon earnings: A big surprise could be in store
  • Apple CEO Tim Cook meets Trump at White House
  • GM adding 700 workers at SUV plant in Tennessee
  • Retirees will likely be disappointed with their Social Security checks
  • Lowered expectations may be in order, survey findings indicate.
  • Airbnb could save US government $4.1B in decade, company says
  • Amazon, Google trading suspended on NYSE, proceeding elsewhere
  • General Electric liquidation would be a ‘fool’s errand’: Bob Wright
  • GM earnings under pressure as sales cool off
  • Virgin America has flown its final flight
  • Former GE CEOs Welch, Immelt trashed at annual meeting
  • Mnuchin, IRS urge you to check your paycheck
  • Huawei said to face federal probe over Iran sanctions compliance
  • After tax overhaul, mortgage interest deductions seen plummeting

 

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

S&P 500 2,639.40 +4.84(+0.18%)

Dow 30 24,083.83 +59.70(+0.25%)

Nasdaq 7,003.74 -3.62(-0.05%)

Russell 2000 1,550.47 -2.81(-0.18%)

Crude Oil 68.04 +0.34(+0.50%)

Gold 1,324.80 -8.20(-0.62%)

Silver 16.53 -0.17(-1.01%)

EUR/USD 1.217 -0.0063(-0.52%)

10-Yr Bond 3.02 +0.04(+1.37%)

 9MarketIndicatorsYahooFinance4.25.2018DailyBusinessNeawsManufacturedHousingIndustryStocksMarketsReportsDataMHProNews

Manufactured Housing Composite Value (MHCV)

YahooFinanceManufacturedHousingCompValue4.25.2018DailyBusinessNewsStocksMarketsDataReportsMHProNews

 

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 –

  • A bill put forth by Sen. Kirsten Gillibrand, D-N.Y., aims to make loans more affordable by offering retail banking services at the U.S. Postal Service,” says CNBC.
  • The proposal opens questions as to how the loans will be paid for and serviced.
  • While the odds this year on this passing would be low, what happens after the midterms could change the calculus on a bill like this in the future.
  • Its one for manufactured housing pros to watch. Gillibrand’s logic on this bill, could it extend to manufactured home loans later?
  • The legislation, called the Postal Banking Act, would make retail banking services available at all U.S. Postal Service locations. That amounts to 30,000 post offices nationwide.

TweetsSenKirstenGillibrandManufacturedHousingIndustryDailyBusinessNewsMHProNews

 

SenatorKirstenGillibrandBillTurnsPostOfficesIntoBanksManufacturedHousingIndustryDailyBusienssNewsMHProNews

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).

4.25.2018DailyBusinessNewsManufacturedHousingConnectedMarketReportsBloombergMHProNews

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.”

We 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.)

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

Breakup “Massive Power” of Giants, “Subvert Our Democratic Process” Says Senator Cruz, & MH CEO’s Call for “Fully Competitive Housing Access”

April 25th, 2018 No comments

SenatorTedCruzWikimediaManufacturedHousingIndustryDailyBusinessNewsmHProNEws

Senator Ted Cruz added his voice to the voices across the left-right spectrum that are calling for a use of federal antitrust laws to break up the massive power” of giant companies that “subvert our Democratic process.

 

Cruz (R-TX) was responding to Joel Pollack’s question on Breitbart radio about the challenge of “censorship of conservatives” on Facebook and across the broader internet landscape.

Once more, the Daily Business News underscores the noteworthy point of the rising voices that are calling for more regulation – or an outright breakup – of giant conglomerates.  You don’t get much more left than Senator Elizabeth Warren (D-MA) and Representative Maxine Waters (D-CA), or more right than Senator Ted Cruz.

President Trump has pointed to specific companies, like Amazon, and concerns over monopolistic practices.

 

Cruz on Tech Giants and “Censorship”

Breitbart reports that Cruz said, “I think, number one, the growing power of tech to censor speech is a profound threat. We’re seeing now some two-thirds of Americans are getting their news through social media, and these tech companies are hard-left. They are are partisan Democrats, and what we’re seeing is they’re amplifying the views they agree with, those of liberal Democrats, and they are suppressing the views of conservatives. They are blocking conservatives.”

Its noteworthy that Facebook founder Mark Zuckerberg told Congress that the Silicon Valley tech giants have a reputation for being left-leaning.  So Cruz’s concern is not hyperbole, when Zuckerberg admits the reality.

 

Industry CEO Segues Implication of Monopolies for Housing Industry

In a comment to MHProNews,If unfettered access to the internet is important — and it is — then full access to affordable home ownership, within a fully competitive market, is even more important, as it serves a basic and essential human need,” said Mark Weiss, President and CEO of the Manufactured Housing Association for Regulatory Reform (MHARR).

MHARR is non-partisan, and represents the interests of independent producers of HUD Code manufactured housing.

MHARR is one of several voices in manufactured housing that have directly or obliquely raised concerns about monopoly power, and how it impacts the manufactured housing industry.

Left-of-center Bloomberg’s reported that one of Warren Buffett’s biggest concerns is of a breakup.

 

Back to Cruz – Scope of Power “Unprecedented”

Cruz said, “The scope of the power is truly unprecedented. You think back to the heights of yellow journalism, when publisher William Randolph Hearst controlled much of media and in fact got America into the Spanish-American War. These tech companies have power William Randolph Hearst could never have imagined.”

The ability, if there’s a view they dislike, simply to silence it so that if you put a post out there, if you put a tweet out there, it simply goes into the void, into oblivion, and no one sees it. Likewise, they have the ability, if there are views they want to promote, to just have everything on your feed be the views they want to promote. That is invidious. It is invisible, and it is profoundly dangerous,” stated Cruz.

Cruz proposed exposing technology firms to libel lawsuits to curb their political manipulation of the availability of information on their platforms.

Responding to Pollack’s question, the Texas senator said, “Now your question is a hard one and a good one. What remedies are there? I would say there are principally two.”

 Those two?

Number one, the question I asked Mark Zuckerberg, the opening question was, ‘Does Facebook consider itself a neutral public form?’ He danced around and refused to answer that. The reason the question matters is much, is under current law, Facebook and other tech companies have immunity from liability, so if someone posts something on their site, they can’t be sued for it, and it’s under what’s called the Communications Decency Act, section 230. The entire reason Congress enacted section 230 was under the assumption these tech sites would be neutral public forums, [that] they would allow people to be speaking. So the reasoning was, we’ll protect you from being sued because it’s not you speaking, it’s somebody else. Well, if Facebook and the other tech companies are going to choose instead to be partisan political speakers, they have a right to do that. They’ve got a First Amendment to become and to be partisan political speakers, but there’s no reason on Earth they should get a special immunity from liability from Congress.”

Cruz also floated the use of antitrust laws to curb technology companies’ power.

He said, A second remedy is considering using anti-trust laws. By any measure, Facebook is larger and more powerful than Standard Oil was the antitrust laws broke it up. It’s larger and more power than AT&T was when antitrust laws broke it up and given that, I think we need to have serious consideration about the massive power we’re seeing of these tech companies to subvert our democratic process.”  ##
(News, analysis, and commentary.)

Related Reports:

NY Stern University’s Scott Galloway on Facebook Founder Mark Zuckerberg’s Capitol Hill Hearings

Buffett Blasts Trump, via Classic Twist

Manufactured Housing – Regulatory, Other Roadblocks and Potential Solutions, Up for Growth Research, plus Urban Institute Report Revisited

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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.

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

2) To provide 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 Resources

SoheylaKovachManufacturedHomeLivingNewsManufacturedHousingIndustryDailyBusinessNewsMHProNews-Submitted 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.

Gary Shiffman, Chairman and Chief Executive Officer Sun Communities (SUI), Statement$, Video

April 25th, 2018 No comments

GaryShiffmanSunCommunitiesChairmanCEOCrainsManufacturedHomeCommunitiesIndustryDailyBusinessNewsMHProNews

Sun Communities (SUI) First Quarter of 2018 performance results are out.

 

Sun’s Gary Shiffman is talking about it.

DeerwoodCaseStudyOrlandoFLStrategicAquisitionsSunCommunitiesSUI-InvestorPage15ManufacturedHomeCommunitiesIndustryDailyBusinessNewsMHProNews600

We started 2018 on a positive pace posting $1.14 in core FFO per share which is at the top end of our guidance range. All cylinders are firing on our operations front and both, our manufactured housing and high RV components driven by outperformance in our rental program and home sales net profit, as well as lower than expected interest expenses,” said Gary Shiffman, Chairman and Chief Executive Officer (CEO) of Sun Communities (SUI), per Seeking Alpha’s investor call transcript.

Same community revenue growth for the quarter was 5.7%. We did experience 6.6% same community expense growth in the quarter, the majority of which related to a one-time reserve increase for certain general liability claims and increased utility usage in the Midwest, Texas and Florida which we attribute to significantly lower temperatures for the period. Demand for the high quality lifestyles Sun delivers remains robust. For the quarter, Sun gained 616 revenue producing sites which included outperformance in RV conversions from transient to annual sites. Home sales volume rose 1.3% to 837 homes in the quarter, driven by an almost 40% increase in new home sales. The bulk of our over 100 new home sales in the quarter were in Florida, Arizona, South Carolina and Texas highlighting the diversification and increased demand throughout the portfolio,” said Shiffman.

SunQ12018BalanceSheetsManufacturedHomeCommunitiesREIT-SUI-DailyBusinessNewsMHProNewsSun – along with other REITs and portfolio operators in the manufactured home community market – have often turned to rentals in recent years.  The return of higher home sales levels is thus a positive signal for detail-minded industry observers, professionals and investors.

In the quarter, we also completed the construction of 246 expansion sites and two manufactured housing communities that will contribute to revenue growth as these sites lease up over the coming quarters. The Company remains on pace to complete construction of approximately 1,350 expansion sites in 16 communities of which 1,000 are in 12 manufactured home communities and 350 are in 4 RV Resorts by the end of 2018. On a final growth front, our ground up developments continue to progress, the construction work at our 332 site Cava Robles RV Resort is nearly complete. The resort is now accepting reservations and is scheduled to open by the end of second quarter. Construction at Carolina Pines are 840 site development at South Carolina began in the first quarter and we expect to complete approximately 470 sites by the second quarter of 2019,” Shiffman said.

The SUI supplemental package is linked here as a download.

A recent look by MHProNews at Sun Communities IR snapshots, is linked below.

Sun Communities Annual Data and Manufactured Housing Industry Investor Presentation Highlights

Shiffman’s 20th Anniversary as Public Company Video

As background color, this video of Shiffman provides some interesting context.  Listen to his facts then, and compare it to the growth in roughly the last 5 years.

Sun is shown as #1 in the latest list of manufactured home communities, for that list, click here or below.

Sun (SUI) is one of the stocks tracked by the Daily Business News evening market recap and data summary.  For last nights numbers, click here.   ## (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.

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

2) To provide 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 Resources

SoheylaKovachManufacturedHomeLivingNewsManufacturedHousingIndustryDailyBusinessNewsMHProNews-Submitted 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.

Black Conservative Candace Owens Reacts to Kanye West and “Ideological Civil War,” plus MH Market Updates

April 24th, 2018 No comments

CNNmoney4.24.2018ManufacturedHomeStocksMarketsReportsMHProNewsAs pop-culture, politics, and economics meet, a reality check is hitting America.  The nascent trend may not yet be high on many people’s radar.  But that’s why it’s worth looking at now, as the 2018 mid terms are about 6 months out.  The Kanye West/Candace Owens controversy will be out focus for tonight.

If you’re new, already hooked on our new spotlight feature – or are ready to get the MH professional fever – our headline reports are found further below, just beyond the Manufactured Housing Composite Value for today.

 

The evolving Daily Business News market report sets the manufactured home industry’s stocks in the broader context of the overall markets.

Part of this unique feature provides headlines – from both sides of the left-right media divide – that saves 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.

MH “Industry News, Tips and Views, Pros Can Use.” ©

ICYMI – for those not familiar with the “Full Measure,” ‘left-right’ media chart, please click here. 

Selected headlines and bullets from CNN Money:

  • Google’s spending spree rattles Wall Street
  • Hedge fund manager Kyle Bass will join Richard Quest on ‘Markets Now’
  • 10-year Treasury yield hits 3% for first time since 2014
  • Naked butts, crime confessions and bullying: What Facebook won’t let you post
  • Here’s a retailer opening brick-and-mortar stores
  • GE pressured to fire auditor after 109 years
  • Home prices are on an epic run
  • Diet Coke’s new flavors are a big hit
  • Cheap wine is about to get a lot more expensive
  • Seattle’s proposed tax to fight homelessness may hit Amazon hardest
  • French billionaire detained by police
  • Who loses if Trump ditches Iran deal?
  • Chicago Tribune staffers overwhelmingly back union
  • Uber CEO on diversity report: We need to improve ‘across the board’
  • Spotify revamps app for non-paying users
  • Google had a monster quarter
  • Amazon now delivers to the trunk of your car
  • We got an Amazon package delivered to our trunk
  • Facebook reveals rules on taking down controversial posts
  • Billionaire investor: It’s time to short Facebook
  • Uber faces a new threat in Mexico
  • YouTube took down more than 8 million videos in 3 months
  • Women could boost Asian economies by $4.5 trillion
  • The EU has one week to avoid a trade fight with the US

Selected headlines and bullets from Fox Business:

  • Dow tumbles more than 400 points
  • Caterpillar tumbles as ‘high-water mark’ cited by CFO
  • United Airlines CEO takes big pay cut, chairman leaves
  • Rand Paul to force Senate vote on budget-slashing bill
  • Brooks Brothers at 200: Lincoln, San Juan Hill, 9/11 and Trump
  • After tax overhaul, mortgage interest deductions seen plummeting
  • FDA cracks down on Juul, e-cig sales to minors
  • Consumer confidence rebounds: Prelude to another market rally?
  • Retail renaissance? These companies are opening new locations
  • JetBlue to sell tickets for semi-private flights
  • Strong earnings season: Why aren’t stocks benefiting?
  • Express Scripts’ plan to change drug pricing dynamic
  • Andy Puzder: Why America’s CEOs must speak out
  • Yahoo is fined tens of millions for failing to disclose data breach

 

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

S&P 500 2,634.56 -35.73(-1.34%)

Dow 30 24,024.13 -424.56(-1.74%)

Nasdaq 7,007.35 -121.25(-1.70%)

Russell 2000 1,553.31 -8.84(-0.56%)

Crude Oil 67.86 -0.78(-1.14%)

Gold 1,332.80 +8.80(+0.66%)

Silver 16.70 +0.12(+0.71%)

EUR/USD 1.2234 +0.0026(+0.21%)

10-Yr Bond 2.95 +0.04(+1.27%)

 9MarketIndicatorsYahooFinance4.24.2018DailyBusinessNeawsManufacturedHousingIndustryStocksMarketsReportsDataMHProNews

Manufactured Housing Composite Value (MHCV)

YahooFinanceManufacturedHousingCompValue4.24.2018DailyBusinessNewsStocksMarketsDataReportsMHProNews

 

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 –

Last week, we noted that black billionaire Robert Johnson refused to be bullied by left-of-center CNBC panelists into disrespecting President Trump and his agenda.  Johnson pointed to the positive results that the Trump agenda are providing to the nation, including blacks and other minorities.

More recently, performance artists Kanye West tweeted his support for Candace Owen, who says she was a liberal two years ago, and today is pro-Trump and a self-described conservative.  She’s “evolved.”

It is way too soon to make predictions about the midterms, and what impact they will have on American business. It ought to be seen as tragic that who holds the congress and White House can have so much impact on American business and the economy, but there it is. That’s reality in 2018.  The right or wrong headlines sends the markets rising or failing, in spite of overall good economic news.


So, issues like the outcome of the 2018 midterms are indeed important.  It is entirely possible that voices like West’s, Owens’ and Johnson’s could signal a new coalition in America. If so, then don’t buy too deeply into the narrative that the president’s party has no chance. 

It’s a jump ball, and one side will outhustle – or not – the other.

 

KanyeWestCandaceOwenFoxManufacturedHousingIndustryDailyBusinessNewsMHProNews

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).

4.24.2018DailyBusinessNewsManufacturedHousingConnectedMarketReportsBloombergMHProNews

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.”

We 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.)

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

 

Largest 50 Manufactured Home Community Operations, per Manufactured Housing Institute, Analysis

April 24th, 2018 No comments

50LargestManufacturedHomeCommunitiesManufacturedHousingInstiutteMHINationalCommunitiesCouncilNCCLogoTriStarEstatesManufacturedHomeIndustryMHProNews

Sun Communities of Southfield, Michigan, took the top spot with 83,294 home sites under management, followed by Equity LifeStyle Properties of Chicago with 73,700 home sites, RHP Properties of Farmington Hills, Michigan, with 60,163 sites, YES! Communities of Denver with 47,278 sites and MHP Funds of Cedaredge, Colorado, with 31,652 sites.” said the Manufactured Housing Institute (MHI) National Communities Council (NCC) release to the Daily Business News.

 

These 50 organizations have a total of more than 693,000 home sites with portfolios ranging in size from more than 80,000 sites to just under 3,000,”said the NCC’s statement.

The prior 2017 list was faulted by MHI/NCC members as double-counting some sites listed by RHP and Brookfield Asset Management, then shown as #3 and #5, respectively.

The NCC serves its members by being an effective advocate before public policy makers, the media and the general public,” is another standard line that has drawn the ire of members, who have told MHProNews that MHI (and by implication, the NCC) is “irrelevant” – ineffective at their own agenda – or fails to defend the industry’s members from flawed media reports.

2018Top50ManufacturedHomeCommunitiesListNotMObileHomeParksNCCNationalCommunitiesCouncilManufacturedHousingInsttitueDailyBusinessNewsMHProNEws

MHP Funds, currently #5, is a tandem of well known partners/investors headlined by Frank Rolfe and Dave Reynolds.  While Rolfe has ‘gone quiet’ on critics of MHI late last year, he has not walked back his stinging criticism of MHI in failing to defend the industry, harming all of those in the business.

 

Bob Crawford, president of award winning Dick Moore Housing, which sold its last community fairly recently, has given MHI a “5 out of 10” – a failing grade – in its lobbying efforts.


Jenny Hodge for NCC

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Jenny Hodge photo credit, MHI/NCC.

Jenny Hodge is a talented, well liked and respected member of the MHI team. At one point, she was seen by some as the heir apparent to the “floundering” or worse view held by some regarding their president, Richard “Dick” Jennison.

Jennison has since, say sources, gained the upper hand in the Arlington inner-office struggles.

Hodge’s release said, “With the tens of thousands of communities, we are trying to responsibly identify with this list who the up and coming operators are as we see signs of continued consolidation as the industry evolves into a more mature phase,” said Jenny Hodge, Vice President of Research and Market Analysis for MHI, according to their release.

Hodge added, “We are seeing more interest in manufactured housing from large institutional investors and smaller independent developers as well as individuals who want to live in high-quality affordable housing.”

Each of these statements by Hodge is upon considered examination, accurate.

What her first point obliquely underscore is part of the reason for MHI’s existence, which is to foster consolidation, according to a number of their critics. Thus the spreading nick-name for MHI, “the Monopolistic Housing Institute,” which the “I want them all for myself” statement by Nathan Smith nurtured.  Smith is the former MHI Chairman, a prominent Democratic operative, a NCC member, and a partner in SSK Communities.

 

 

MHProNews & MHI – Who is Telling it Like It Is?

It is natural to believe that your side, whichever side that may be, is the ‘right side.’

That said, it is important to note that MHProNews’ publisher has for over a year offered to publicly meet and debate the issues, concerns, and topics raised by MHProNews and/or MHLivingNews.  MHI has ducked, dodged, detracted and declined to accept the invite.

One must ask, why?

AcceptingTheProblemDailyBusinessNewsMoreCommunityClosuresThanOpeningsDailyBusinessNewsMHProNews_001

The MHI statistics are a mix of accurate and inaccurate. This year’s list appears to be clean and controversy free. The same can’t be said about the statistics that claim there are some 38,000 communities.  Their own members dispute that number, and that goes to the heart of what’s wrong with MHI, or NCC.

Frank Rolfe, Dave Reynolds, George Allen, Manufactured Home Community Controversy Continues

This isn’t a critique of Jenny Hodge, who is following orders.”  It is a critique of those who are seen as manipulating and “weaponizing” data and messages to their members.

If they had a good come-back, why don’t they present it?

Rather, they dodge those concerns by what a long-time MHI member told MHProNews is “Razzle Dazzle.” While his example was on a different topic, the principle is the same.

“Razzle Dazzle,” Says Former Manufactured Housing Institute Member

There are concerns by some that HUD Secretary Carson might, might by intent or not, give MHI an apparent win, when there is nothing that MHI has arguably done save keep the industry’s growth at lower levels, by failing to accomplish their own claimed agenda. For more details, the related reports will dot i’s and cross t’s that have as of this writing, gone unanswered by MHI, and which their surrogates have used only “razzle dazzle,” hoping to distract people with smoke and mirrors.

It’s a great industry, with numbers of very fine professionals, but some are holding up the industry from within, as Frank Rolfe and others have said.  “We Provide, You Decide.” © ## (News, analysis, and commentary.)

(Third party images are provided under fair use guidelines.)

Related Reports:

Manufactured Housing – Regulatory, Other Roadblocks and Potential Solutions, Up for Growth Research, plus Urban Institute Report Revisited

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

2) To provide 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 Resources

SoheylaKovachManufacturedHomeLivingNewsManufacturedHousingIndustryDailyBusinessNewsMHProNews-Submitted 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.

 

Clayton Homes’ “Robots” – Automation’s Role in Warren Buffett’s Berkshire Hathaway’s “Durable Competitive Advantage” in Manufactured Housing

April 24th, 2018 No comments

RobotsClaytonHomesKeithHoldbrooksPresidentClaytonBuildingGroupLogoManufacturedHousingINdustryDailyBusinessNewsMHProNews

The opportunity to change our industry’s image is tremendous today.  There’s never been a better time to change it,” says Keith Holdbrooks, President of Clayton Building Group, in a carefully crafted video, posted further below.

 

Robotics and automation are playing a role in that image and the Clayton reality, as will be revealed in this report.

In a release to the Daily Business News, Clayton identified themselves as “a national home builder and Manufactured Housing Institute’s 2017 Manufacturer of the Year…”

Besides changing the “industry’s image,” what Clayton is striving to do is carefully advancing their own image too.

As MHProNews has previously reported, Warren Buffett’s “the Moat” strategy promote the concept of a “durable competitive advantage.”  Readers can finish this column, and later circle back to the in-depth look at Buffett’s thoughts on the issue linked below, or in the Related Reports at the end. Those reveal what Kevin Clayton, the CEO of Berkshire Hathaway owned Clayton Homes, has said for years about how to get and keep a durable competitive advantage by using and expanding Buffett’s principle of “the Moat.”

Best Warren Buffett, Kevin Clayton, Clayton Homes, Berkshire Hathaway Annual Meeting, Competition, and “the Moat” Video Collection

 

Robots and Automation

The soft musical undertones in the video are part of that image crafting, for which Clayton has hired a branding team.  Clayton previously told the Daily Business News via a release that “Clayton Homes has selected Made Movement (Made) to handle strategy, digital experience design and advertising for the brand.” The “Have it Made” campaign, some observers say, promotes the Made agency, as well as Clayton.

Clayton’s recent acquisition of yet another site builder – Brohn Homes of Austin, one of Texas’ largest privately-owned homebuilders – are all part of their drive to “world domination,” as Builder put it, in two different articles.

The key to Clayton’s tech, robotics and automation-fueled offsite-site build business-model bid for world domination of lower-priced new homes,” said Builder, a statement that Clayton’s social media page endorsed by posting it.

 

“World Domination”

About five years ago, leadership called on us to do what it took to make [Berkshire Hathaway unit] Clayton a world class company,” says Rick Boyd, director of operations, working out of the enterprise’s Maryville, Tenn.-based headquarters. “We didn’t know what that was. So we had to define what that meant, and that process gave us three pillars of priority: team member experience, customer experience, and leadership.”

It is interesting to note that in their release, Clayton cited Starbucks and Google as their examples of companies to study and emulate.

Google is drawing fire for being monopolistic, if they’re not already an outright monopoly. Those are the positions governmental actions in Europe and the U.S., as well as civil litigation, are underscoring.  And although Starbuck’s has a history promoting inclusiveness, their president recently publicly apologized for racially insensitive actions at one of his stores. Sound familiar?

Starbucks, Google and Berkshire’s Clayton each arguably have their own moats, in their respective spaces.

ClaytonHomesAutomoationRoboticsLogosManufacturedHousingIndustryDailyBusinesNewsMHProNews

 

Velvet Monopoly?

While the have it made people are crafting one image, another is emerging too, across the left-right media and political divide.

That image is of Warren Buffett being portrayed by some as the creator of a new forms of ‘company stores’ and ‘company towns.’  In those Buffett towns, Berkshire is:

  • earning a few cents a day per households from the sale of Heinz ketchup – with millions of families using their products daily,
  • earns a thousand (+/-) dollars or more annually from millions of GEICO policy holders,
  • wants you to stop at Dairy Queen for Fan Food ®,
  • buy your sweet heart some See’s Candies,
  • and hopes to sell you a home – either through their real estate division, or from their growing footprint of conventional or factory-built homes.

Beneath that velvet glove image they are grooming at Clayton, is another story.  It is told by retailers like “Kevin Carroll, former owner of a Clayton-affiliated dealership in Indiana, as saying that if he steered customers to a Clayton lender, he got “a kickback” in the form of a discount on his business loans. Carroll later went out of business and sued Clayton for fraud, but the case was dismissed,” per Omaha, a Berkshire owned business.

WarrenBuffettMonopolynsiderMonkeyManufacturedHousingIndustryDailyBusinessNewsMHProNews

Warren Buffett, say critics, is building a new type of “company town.” Like the proverbial slow boiling of the frog in a pot of water, the placid pace nevertheless has an impact over time. Clayton has gone from an large also ran in 2002, prior to Buffett’s takeover in 2003, to some 50 percent of the industry by 2018. Monopoly?

It was part of a response to the controversial Seattle Times reports about Clayton, which opponents of the Clayton/Berkshire/MHI backed Preserving Access to Manufactured Housing Act used to give a black eye to the essentially the entire industry.

A competitor – a non-MHARR member, that is a MHI member builder – tells MHProNews that Clayton is poised to do even more with robotics.

Because of the new tax law, that senior executive says, Berkshire can pump more money into Clayton.   Indeed, “The Tax Cuts and Jobs Act recently signed into law by the President includes multiple provisions increasing depreciation,’ says KTLIP. And if that HUD Code builder executive is correct, putting more into automation and robotics could more rapidly be expensed.

The result?

A new kind of durable “moat” competitive advantage will be gained by Clayton over their competitors over time.  Velvet gloves, tossing sharks into the moat’s water, that’s the image that Buffett himself has arguably painted, in his own words.

 

 

Will Trump Administration Reforms Fuel More Completion?

But the new tax law and regulatory roll back will work in more than one way.

PresidentDonaldTrumpHUDSecretaryBenCarsonManufacturedHousingINdustryDailyBusinessNewsMHProNewsNew HUD Code builders are entering the manufactured housing (MH) industry in 2018, as a report from Tunica and one in April 2018 underscored.  It must be noted that in a different tax and regulatory environment, these new competitors to Buffett’s/Berkshire’s/Clayton’s dream of ‘world domination’ may not have come into existence before 2017.

If there is a change in the makeup of the House and/or Senate after the 2018 midterms, will Democrat Buffett benefit anew?  Will his hand-picked politicos once again promote heavier regulations?

As MHProNews has reported, a long time MHI member told the Daily Business News that Clayton and the other big companies have ‘figured out how to get smaller companies to pay for what they want, using the Manufactured Housing Institute.’

That too fits the use of non-profits by Berkshire and Clayton.

Berkshire’s Clayton benefits during heavy or lighter regulations.  Are they lifting the industry, as Clayton and their incentivized apologists and paid promoters say?  Or are they slowly killing off competitors, via their slow-motion, sharks-in-their-moat strategy dictates?

IBTInternationalBusinessTimesWarrenBuffettHillaryClintonDailyBusinessNewsMHProNews

Warren Buffett has said he won’t attack the president. But Buffett has surrogates. Buffett’s son has sought to undermine President Trump, as have others in the Berkshire orbit. Clayton issued a recent press release that claims to support the president’s agenda. But are Kevin, Keith, Tim Williams/21st Mortgage, or Eric Hamilton at VMF – all Berkshire brands – going to go against Buffett’s public positions?

These are questions that Trump Administration officials will have to answer as they examine concerns over monopoly that are being raised about Berkshire’s manufactured housing (MH) brands, with concerns from voices inside and outside of the MH Industry.

Independent producers, retailers, communities, lenders and others in the factory-built home industry will have to answer these questions about the growing Clayton/Berkshire moat too.

What is certain is that Clayton’s market share has been growing.  Yet, per prior reporting, their own percentage of growth in sales year over year is at a slower pace than the industry at large. Is that a kind of indirect proof that their marketing isn’t working quite as planned?  Are they a beatable monopoly?

l_a_tony_kovach__mhlivingnews__creditThere is evidence that suggests that the HUD Code manufactured home industry needs more than great videos, pretty websites, advertorials, and overly-crafted messages,” says award winning industry veteran, L.A. “Tony” Kovach. “Clayton’s videos collectively have millions of views, and they have millions of visits to their website, per sources.  Yet, the Berkshire annual letter says they only sold some 49,000 homes in 2017? There’s a clear disconnect, and that’s one more data point that the MH industry needs to sit up and take notice about.”

Kovach says the need is to get to the root issues that keep the industry from advancing. While MHI promotes Berkshire’s desires, are they ignoring – or undermining – the kind of work that has proven effective in local markets?

Are They Among the Best Advocates for Manufactured Housing and Manufactured Home Living?

As the affordable housing crisis rages, manufactured housing may top 100,000 new home shipments in 2018. When 8.3 million housing units are needed now, isn’t 100,000 homes a big yawn?  “We Provide, You Decide.” © ## (News, analysis, and commentary.)

(Third party images are provided under fair use guidelines.)

Related Reports:

Manufactured Housing – Regulatory, Other Roadblocks and Potential Solutions, Up for Growth Research, plus Urban Institute Report Revisited

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

2) To provide 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 Resources

SoheylaKovachManufacturedHomeLivingNewsManufacturedHousingIndustryDailyBusinessNewsMHProNews-Submitted 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.

 

Retailers Are Joining Forces to Build Their Own Manufactured Homes in Former Patriot Plant

April 23rd, 2018 No comments

FormerPatriotHomesPlantManufacturedHousingIndustryDailyBusinessNewsMHProNews

Four long-time veterans of the manufactured housing industry retailers have opted to join forces with a former executive with an industry giant to form a new manufactured housing builder.

 

An informed source tells MHProNews that those involved include:

  • Casey Peacock/Meghan Roller of Hench’s Homes in Sherman, 40+ year old dealership,
  • Todd McDonald of McDonald’s Homes in Jasper, 40+ year old dealership,
  • Donnie Brewer of Brewer Homes in Bossier City, 40+ year old dealership,
  • Lance Inderman of Mustang Homes in Lubbock, 40+ year old dealership
  • are partners with David Jessup on Jessup Manufactured Housing.”

Jessup, says the Waco Tribune, is a former Clayton Homes team member, who left the company to make this happen.   LinkedIn listed Jessup as a Regional Vice President for Clayton Homes.

JessupManufacturedHousingWacoTexasManufacturedHOusingIndustryDailyBusinessNewsMHProNews

The Waco City Council and the McLennan County Commissioners Court approved an $850,000 economic development grant Tuesday for Jessup Manufactured Housing LLC, a new business set to move into the former Patriot Homes building on West Loop 340,” according to the Waco Tribune.

The seven-month-old company was formed in the wake of the last hurricane season in Texas, when an already long backlog of orders from retailers and communities grew as a result of orders from the Federal Emergency Management Administration (FEMA).

DavidJessupPhotoDnMcCannTMHAFacebookDailyBusinessNewsMHProNews

Local media reports that Jessup will add $1.25 million worth of equipment to its facility and hire up to 200 full-time employees by 2020, with plans to hire 150 by the end of the year. The city and county will split the cost of the economic development grant.”

The company will build single-wide homes of less than 1,200 square feet for shipment to independent retailers in Texas, Louisiana, Oklahoma, Colorado, Arkansas and possibly Mississippi,” Jessup said, estimating that the retail price will be around $45,000 to $49,000.

A Manufactured Housing Institute (MHI) member-producer told the Daily Business News on MHProNews that the product mix in Texas has shifted, to include a higher percentage of single section homes.  “Right place, right time,” that HUD Code manufactured home builder said.There is not enough capacity to satisfy the demand…the parks are competing for that production and the oil prices are going up and needing units too. Most factories are out 3 to 5 months.”

These are really skilled positions basically building homes,” said Kris Collins to the Waco Tribune, senior vice president for economic development at the Greater Waco Chamber of Commerce. “We know that that’s an area where we have considerable depth of workforce. That makes this a really attractive place for Jessup to establish its presence.”

ManufacturedHousingShipmentsTexasManufacturedHousingAssociationDailyBusinessNewsMHProNews

They said that Jessup worked for Tennessee-based Clayton Homes, which also has plants in Waco, “for 20 years and quit to start his own operation.” They are seeking staffers with carpentry, plumbing and electrical skills, that are “willing to work.” Training is being offered by Jessup’s firm.

Our target market is first-time homebuyers who have grown tired of paying rent,” Jessup said.

The Manufactured Housing Association for Regulatory Reform (MHARR) reports that Texas has long been the top production and retailing state in the U.S. MHARRTop10ManufacturedHousingProducingstatesDailyBusinessNewsMHProNews

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DJ Pendleton. Credit: MHProNews.

DJ Pendleton, Executive Director of the Texas Manufactured Housing Association (TMHA) told the Daily Business News that “Jessup is a terrific guy. Former TMHA Chairman and a friend.”

Another HUD Code MHI member-producer, commenting to MHProNews about the announcement said that other plants are being discussed, planned, or are already under construction.  Some of those have previously been reported by the Daily Business News, but the sense is that more are coming.

That second MHI member production source pointed to a development that will part of an upcoming, separate report about Clayton Homes. Stay tuned.

It’s worth noting that new manufactured home producers coming onto the scene has been taking place after the regulatory rollbacks initiated by the Trump Administration. Coincidence? ## (News, analysis, and commentary.)  (Third party images are provided under fair use guidelines.)

Related Reports:

ManufacturedHousingGoingVerticalReportDailyBusinessNewsMHProNews

http://www.mhpronews.com/blogs/daily-business-news/manufactured-housing-industry-new-hud-code-home-retailing-more-exploring-going-vertical/

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

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SoheylaKovachManufacturedHomeLivingNewsManufacturedHousingIndustryDailyBusinessNewsMHProNews-Submitted 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.