Archive

Archive for the ‘Communities’ Category

Forbes Boast$ about Manufactured Home Community Operation

July 10th, 2018 No comments
ForbesboastsAboutManufacturedHomeCommunityOperationsManufacturedHousingNotMobileHomeParksDailyBusinessNewsMHProNewsLogo

The image above was used by Forbes, but a more accurate photo of the operation is shown further below.

When Jon Markman reveals much with his first paragraph in Forbes, which said: “Since 1975, Sun Communities has been flying under the radar. Managers have been buying and operating trailer parks.1 And they have been making a fortune for shareholders.”

 

Markman’s bio says Analyzing tech stocks through the prism of cultural change. “I am an investment adviser, trader, columnist and author based in Seattle. I publish or edit four daily publications: Strategic Advantage, on long-term investing…”  He is also president of Markman Capital Insight.

This month, the Michigan company saw its shares sprint to a record high, matching the move made by the Russell 2000 small-cap stock index,” said Markman. “Something big is happening with smaller-cap stocks. Investors should pay attention.”

Sun Communities (NYSE:SUI) is anything but flying under the radar, as even an industry outsider can rapidly confirm.

Bloomberg, NYTimes, Nasdaq, Seeking Alpha, and Simply Wall Street are some of the over 12 million hits on a quick Google search on this date revealed for Sun Communities.

So, what might be more accurate is for Markman to say that he’s discovering the sector and this stock, which are both arguably good for the industry, and for SUI.

JonMarkmanForbesContributorMarkmanCapitalInsightsDailyBusinessNewsMHProNews

Beyond the problematic nomenclature, Markman raises some issues that newcomers to manufactured housing investing will find useful. Combined with the graphics and insights in this report, the data comes to life.

 

Markman on Sun

It’s easy to ignore Sun Communities. After all, manufactured housing and RV communities lack the chic appeal of high-end retail, or panache of technology companies,” said Markman.  Perhaps he meant, it used to be easier to overlook them for those reasons?

Yet, Sun executives adopted the best practices of acclaimed retailers, while carefully implementing new technology to grow its trailer park1 business in profound new ways.”  That is the tech angle that may have drawn this tech focused writer to use his nomenclature plagued article to the attention of his Forbes and other readers.

SunCommunitiesSUIDailyBusinessNewsMHProNewsWikiSummaryDailybusinessnewsMHProNews

In the process, the company is building durable competitive advantages. And for shareholders, these moves are building value,” said Markman.

That’s arguably the most important topline point that he could have made about Sun, and the entire manufactured housing industry.

Because manufactured homes have an endurable competitive advantage, it has historically performed at a significantly higher level.  The Sun graphics in this article are the addition of the Daily Business News, and where not found in the Forbes column, which only used the generic Shutterstock image and an older Sun video shown.

Value investing has taken a backseat to growth strategies during the last nine years,” said Markman.

The Forbes contributor then goes into the weeds on why he and others think that value and small cap investing are likely to heat up.

The current relative performance of smaller-capitalization issues is a clear indication that a transition is underway,” said Markman. “In 2018, the Russell 2000 Index is the clear market leader. The total year-to-date gain for small caps is 10.07%, the best of any major stock index.”

With a market cap of $7.7 billion, Sun Communities is no longer a small cap. It has grown mightily. But its domestic focus, coupled with very strong cash flows, will curry favor among small-cap value investors,” he said.

SunCommunitiesSUI-InvestorPage11ManufacturedHomeVsSingleFamilyHousingManufacturedHomeCommunitiesIndustryDailyBusinessNewsMHProNews600

Graphic, data, per Sun Communities (SUI).

The company is carefully rolling up a deeply fragmented trailer park1 industry.” By “rolling up,” he obviously means, consolidating. “Managers then rebrand and refurbish the communities, raise rents, and send money back to shareholders through its Real Estate Investment Trust structure.”

SunCommunitiesSUI-InvestorPageComparetoMultiFamilyHousing10ManufacturedHomeCommunitiesIndustryDailyBusinessNewsMHProNews600

Graphic, data, per Sun Communities (SUI).

The process began almost immediately after the company sold shares to the public in 1993,” stated Markman, who then lists the following bullets.

  • In 1996, Sun acquired 25 communitiesfor $226 million, and Chateau Properties for $370 million in stock, to bolster its holdings in Michigan and Florida.
  • In 1997, it acquired 9 communities, in Indiana and Florida.
  • In 2012, the company added a 756-unittrailer home park in Michigan, for $32.2 million.
  • And in 2016, Sun bought 103 communities, mostly located in California, Florida and Ontario, Canada, for $1.7 billion.
SunCommunitiesAnnualReportDataDailyBusinessNewsMHProNews

Investor data download, linked here.

All of these communities, now 350 strong, offer well-maintained grounds and amenities such as exercise facilities, pools and saunas. Many are pet-friendly,” he said, in what may be news to some of his readers, but is hardly so for manufactured housing industry professionals. Investors should be mindful that there are some 45,000 manufactured home communities (MHCs) in the U.S., per the best count and estimates know.  The link below can be read later for greater insight on the community count controversy.

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

Its investments are paying off…Through 2017, Sun logged an overall occupancy of 94.6% at its manufactured home facilities. The average rent was $917, for a 1,250-square-foot home, with an expected increase of 3.8% in 2018. And the average tenure of residents is 12 years.”

Sun has recorded 18 consecutive years of positive net operating income,” which is not surprising for many manufactured home communities, because prudent affordable housing is a more recession proof business. “It is a very compelling business model. And company managers are keeping track of everything with state-of-the-art cloud computing tools running custom SAP (SAP) software.”

Since 2008, the total return on investment through 2017, including dividends, is 857.6%. The comparable return for the S&P 500 is 126%.”

For seeming the umpteenth time, he turns to the T-word in his description of an operation that usually focuses on upscale manufactured home communities, vs. 1 star type properties. “Investing in trailer parks1 might not seem like a great idea. It might even feel lowbrow. But the best investors look for businesses with durable, competitive advantages. Manufactured housing has consistently bested all real estate investments other than self-storage. And it is recession-resistant.”

Once more that’s arguably the top-line takeaway for those inside MH, or those investors and reseachers outside of manufactured housing that are looking in.

In 2017, Sun Communities revenue grew 17.9%, to $982.6 million, year-over-year. The core funds from operations grew 10% to $4.17 per share. In 2018, company managers expect core FFO to reach $4.48 to $4.58, implying the current dividend yield of 3% will grow,” Markman said.

As professional investors turn away from growth, yield is likely to become more sought after, and Sun will have its trailers1 hitched up and ready to go,” Markman quipped.

Sun is one of the publicly trade stocks tracked by the Daily Business News, with last night’s closing numbers found here. ## (News, analysis and commentary.)

Footnote 1. While terms like ‘trailer,” or “trailer park” are common, and routinely go unaddressed by the Manufactured Housing Institute (MHI), and too many others, they are improper terminology. The Society for Professional Journalism’s Code of Ethics says in part, “Avoid stereotyping. Journalists should examine the ways their values and experiences may shape their reporting.” Also, Journalists should: – Take responsibility for the accuracy of their work.  Residents and professionals routinely resent the term ‘Trailer,” as MHProNews and MHLivingNews has often reported.

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

FactoryHousingEvolution101TrailerHouseMobileHomeManufacturedHome

To see the Ultimate Manufactured Housing Infographic, click here.

Related Reports:

“Trailers for Sale or Rent,” “Pencil Head, Its Not a Trailer Park,” Manufactured Home Rental Reality Checks

 

Hundreds of New Manufactured Home Communities Opened, But How Many Have Closed? Industry Research Result$

George Allen Blasts MHI, NCC Ignoring Own, Spencer Roane, SECO, COBA7, Tom Lackey Controversies

 

ConfidentialNewsTipsOKTipsIreportMHNews@MHMSM-comGraphic

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

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

U.S. Senator Ted Cruz – El Chapo Plan, Video Interview, Plus Manufactured Housing Market Update$

July 3rd, 2018 No comments

CNNmoney7.3.2018ManufacturedHomeStocksMarketsReportsMHProNewsHaving published Senator Elizabeth Warren (D-MA) and others on the left a chance, it is time to do a video with a Texas GOP conservative, Senator Ted Cruz.  An interview with him will be our spotlight going into the 4th of July holiday today.

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:

  • Mall vacancies hit six-year high
  • The truth about the retail apocalypse
  • Delta Air Lines hit by rising fuel prices
  • Facebook buys an app for teens and shuts it down
  • Every US-made car is an import. That’s bad news for automakers
  • Facebook data scandal draws growing federal scrutiny
  • Facebook apologizes for bug that temporarily unblocked people
  • New Jersey poised to invest $5 million into local journalism
  • New York Times DC reporter who dated Senate intelligence staffer reassigned to New York
  • She started a newspaper that helps Ohio’s inmates rebuild their lives
  • A guide to making friends at work
  • Why women need mid-career mentors
  • The power of more than one woman on a board
  • ‘I think we just became a real car company’: Tesla finally hits Model 3 target
  • MoviePass is running out of money
  • Dell is ready to return to Wall Street
  • Lyft, like Uber, is moving beyond cars
  • Starbucks advisers say the company needs to do more to end racial bias
  • Rent the Runway CEO: Giving all employees the same benefits is the ‘right thing to do’
  • Roger Federer ditches Nike for Uniqlo
  • CNN’s Jim Acosta is undaunted by critics: ‘We have a job to do’
  • School security is a rapidly growing business
  • US box office has record quarter thanks to a string of summer hits
  • On the test track in Porsche’s most powerful plug-in hybrid
  • EU warns Trump’s car tariffs threaten $300 billion of US exports
  • Canada hits $13 billion of US goods with new tariffs
  • Tesco and Carrefour join forces to keep prices down
  • Growing pains across America’s biggest oilfield
  • What’s killing Big American Beer?
  • America’s favorite store that everyone forgets about
  • Why Pepsi made ‘Uncle Drew’ into a movie
  • Despite lessons from the past, US cities are optimistic for 2026 World Cup
  • The US-China trade war will spill into other Asian economies
  • Trump tariff would make the Toyota Camry $1,800 more expensive to build
  • GM warns tariff could force job cuts, raise cost of cars
  • Companies that want out of new steel tariffs describe a nightmare
  • Halftime report: Why the ride for global markets got so bumpy
  • China opens up more of its economy to foreign companies

Selected headlines and bullets from Fox Business:

  • California is bad for business, state needs 3-way split: Tim Draper
  • US stocks close lower, Dow off triple digits
  • July 4: Which markets are closed?
  • Top US automakers report higher auto sales in June
  • Truck driver shortage: Are 18-year-olds the solution?
  • A longstanding regulation limits the ability of younger Americans to haul freights across state lines.
  • Trump should nominate Mike Lee for the Supreme Court: Kennedy
  • Feeling patriotic? Here are 5 American-made products
  • US should throw China out of the WTO: Peter Morici
  • Trump courts rivals of Harley-Davidson after it says production moving
  • These tax changes go into effect in July
  • Amazon Prime Day now six hours longer
  • Toys ‘R’ Us adding to ghost malls nationwide
  • Nathan’s Hot Dog Eating Contest prize pool: What event winners earn
  • Kathy Ireland ventures into shipping container business
  • Fourth of July fireworks spending may hit a record
  • July 4th travel to hit all-time record, AAA predicts
  • Travel times are expected to double in some cities.
  • July 4 holiday travel forecast breaks record
  • Seadrill Ltd. Stock Isn’t Up 22,000% Today (It’s Actually Down): Here’s What You Need to Know
  • Why Shares of Acuity Brands, Inc. Popped 19% Today
  • Why Tesla, Facebook, and Micron Technology Slumped Today

 

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

9MarketIndicatorsYahooFinance7.3.2018DailyBusinessNeawsManufacturedHousingIndustryStocksMarketsReportsDataMHProNews

 

Manufactured Housing Composite Value (MHCV)

YahooFinanceManufacturedHousingCompValue7.3.2018DailyBusinessNewsStocksMarketsDataReportsMHProNews

 

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 –

Political junkies may recall that Senator Ted Cruz stopped short of endorsing Donald J. Trump at the Republican Convention in 2016.  Cruz took significant push-back from that, and today’s video will remind some of a still hesitant Texas Senator in promoting the 45th president.

NeverTrumpPoliticalCartoonDemDonkeyComplainsNeverTrumpElephantListensmanufacturedhousingindustrynewsmHPronews

In fact, there’s a moment where Cruz almost sounds like a never-Trumper, which is why we’re pairing up the political cartoon shown above.

ElChapoJoaquinGusmanMexicanDrugLordManufacturedHousingIndustryDailyBusinessNewsMHproNews

That said, Cruz talks about a his El Chapo plan, and a variety of other hot-button topics in this under 7 minute video. 

 

TedCruzPlusMHMarketUpdatesManufacturedHousingINdustryDailyBusinessNewsMHProNews

Happy Fourth of July to all.  ICYMI, you may want to check out a meaty topic on manufactured housing vs. subsidized housing, and the underlying issues for the industry, investors and America.

Affordable Housing, Subsidized Housing, Manufactured Homes, Private Property, and Proclaiming Liberty

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).

7.3.2018DailyBusinessNewsManufacturedHousingConnectedMarketReportsBloombergMHProNews

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.)

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

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

 

Legal Maneuvers Continuing in Skyline Corp, Champion Homebuilders Merger Case

April 20th, 2018 Comments off

SkylineCorpChampionHomesMergerShareholderFoundationDailyBusinessNwsMHProNews

Kevin Sowers with Aplomb Capital is a Skyline stockholder, who previously told the Daily Business News that the Monteverde & Associates PC matter was a form of “ambulance chasing.”

 

Sowers has been critical of Skyline in the past, but favors this merger with Champion.  That initial report on the pending ‘class action’ is linked below.

Skyline – Champion Merger Suit, Real ‘Class Action,’ or “Ambulance Chaser” Legal Shakedown?

In the latest publicized maneuver, Michael Daniels, General Manager of the Shareholders Foundation said in a release to MHProNews that,An investigation was announced for investors, who currently hold shares of Skyline Corporation (NYSE: SKY), over the takeover of Skyline Corporation by Champion Enterprises Holdings.”

While merits of the matter will be debated by professionals, what it seems to be accomplishing is a slowdown for Champion and Skyline.

Per the Shareholders Foundation, “On January 5, 2018, Skyline Corporation (“Skyline”) (AMEX:SKY) and Champion Enterprises Holdings, LLC (“Champion”), the parent company of Champion Home Builders, Inc., today announced that they have entered into a definitive agreement for the two companies to combine their operations. Under the terms of the agreement, Champion will contribute 100% of the shares of its operating subsidiaries, Champion Home Builders, Inc. and CHB International B.V., to Skyline.”

According to their website, “The Shareholders Foundation is a portfolio monitoring service for institutional and individual investors. We offer professional portfolio, legal monitoring, and custom reporting for institutional investors including settlement claim filing services. The Shareholders Foundation also offers portfolio tools and resources at no cost to individual investors.”

However, given that Art Decio, Skyline’s largest shareholder, has already agreed to vote in favor of and fully support the transaction, the investigation concerns whether the offer is unfair to NYSE: SKY stockholders,” said their release. “More specifically, the investigation concerns whether the Skyline Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders’ best interests in connection with the proposed sale.”

Skyline Corporation reported that its Total Revenue rose from $211.77 million for the 12 months period that ended on May 31, 2016 to $236.50 million for the 12 months period that ended on May 31, 2017,” according to their release.

Skyline Corp, Champion Homebuilders Conference Call Presentation Facts, Figures, Forward-Looking Statements, Planned Merger Detail$

The firm bills itself as a “complete class action monitoring service for individual, professional, institutional investors and custodians.

The closing numbers today on Skyline’s stock is part of the market report, linked here. ## (News, analysis, and commentary.)

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

  1. 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.

An Examination of Manufactured Housing as a Community- and Asset-Building Strategy, Harvard JCHS, NeighborWorks, Ford Foundation

March 6th, 2018 Comments off

HarvardJointCenterHousingStudiesNeighborWorksFordFoundationManufacturedHousingIndustryDailyBusinessNewsMHProNews550x400

It’s a landmark document that is perhaps more relevant now than when it was first published.

 

It’s the report to the Ford Foundation by Neighborhood Reinvestment Corporation, done in collaboration with the Joint Center for Housing Studies (JCHS) of Harvard University.

 

The Daily Business News has cited Harvard’s JCHS numerous times before, and in the light of the recently submitted comments to the Department of Housing and Urban Development, and numerous other ongoing industry-related controversies, another look at this report is as timely as ever. The document was produced by:

  • William Apgar, Joint Center for Housing Studies
  • Allegra Calder, Joint Center for Housing Studies
  • Michael Collins, Neighborhood Reinvestment Corporation
  • Mark Duda, Joint Center for Housing Studies

Here are the top-lines, with a few selected graphics and the complete report at the end, provided as a download.

 

TrailerHouseMobileHomeManufacturedHomeFactoryBuiltHousingEvolution101MHProNews-MHLivingNews

DefinitionsManufacturedHomesMobileHomeModularHomePanelizedHomeTrailerHomeHarvardJCHSNeighborWorksFordFoundationReportDailyBusinessNewsMHProNews

ABSTRACT OF FINDINGS

An increasing share of lower-income families, the same population targeted by community-development organizations, are opting to live in housing that was built off-site in a factory to meet the performance standards of the national HUD manufactured-housing code.

However, most community-development practitioners are just beginning to come to terms with the implications of manufactured housing for their work. This paper explores advantages and disadvantages of manufactured housing for those entities whose mission is community development and asset building.

OwnershipAppreciationManufacturedHomesConventionalsiteBuiltHousingHarvardJCHSNeighborWorksFordFoundationDailyBusinessNewsMHProNews

Note, this research and data were done in 2002. Several studies since have come to similar conclusions, for example, the HUD Commissioned PD&R in 2008 that examined manufactured homes that appreciated side-by-side with conventional housing, and research by Trulia in 2016.

Several challenges are presented for practitioners: First, working to educate consumers while also creating financing processes that ensure manufactured home buyers obtain credit on the best terms for which they can qualify.

Second, using the increased scrutiny under the Manufactured Housing Improvement Act of 2000 to advocate for states to enforce more rigorous installation standards and increased accountability.

Third, working to overcome land-use controls which prevent manufactured homes from being placed in communities in need of affordable housing, as well as areas with more potential for appreciation. Fourth, working with designers and planners to develop innovative designs and housing developments, while maintaining manufactured housing’s affordability advantages.

SharemanufacuredHomesOnOwnedLandManufacturedHomeIndustryHarvardJCHSNeighborworksDailyBUsinessnewsMHProNews

Finally, equal effort must be devoted to address the difficult conditions of many lower-income people—owners and renters alike—living in older, and often deteriorating, mobile homes. While a few of these families and individuals could be relocated to new and better quality homes with the help of subsidies, resource limitations suggest the need to create cost-effective methods to eliminate health and safety problems by upgrading or rehabilitating this extremely affordable element of the nation’s housing inventory.

As a companion to this paper, an exhaustive literature review has been compiled.”

RevDonaldTyeJrManufacturedHousingAdvocateQuickestWayWealthIndustryVoicesMHProNews500

Note, this graphic will be updated with the link to Rev, Tye’s comments, later today.

The Tye Family, a Living Case Study

The Rev. Donald Tye dives into the question, since manufactured housing could solving the need for millions of Americans of all backgrounds today for quality, affordable housing that can grow in value, why isn’t it being more utilized?

TruliaLowIncomeHousingImpactOnNearbyHousingValuesDailyBusinessNewsMHProNews600

The Trulia study reflects a similar finding of a report commissioned by HUD that studied the impact of manufactured homes installed side-by-side as infill in a variety of urban markets. Both conventional and manufactured homes appreciated, there was no harmful impact. That report is available as a download from the MHLivingNews article, linked above.

Tye’s take is found in an Industry Voices guest column, is linked from the graphic with his quote and photo, above.

The NeighoborWorks/Harvard JCHS report to the Ford Foundation, is linked here.   ## (News, analysis, and commentary.)

Related: 

A previously cited quote and a related report from Harvard’s Eric Belsky is found via the linked quote/photo, below.  Following that is a new finance focused report.  For the opportunity for appreciation in manufactured housing, or conventional housing, to exist there are several factors are needed.  Among them is a reliable supply of credit.  So the quotes from Belsky, and the others linked articles below are important, related topics.

EricBelksyManufacturedHousingIndustryManufacuredHomeManufacturedHousingInstituteResearchDataAffordbleHousingMHProNewsDailyBuisnessNews575

http://www.mhpronews.com/blogs/daily-business-news/appealing-manufactured-housing-institute-mhi-marketing-finance-booklet-reviewed/

Plot Twist – Duty to Serve – Freddie Mac CEO Layton Called to Accountability w/Congressional, Administration Leaders Over New Manufactured Home Lending Revelations

Appealing Manufactured Housing Institute (MHI) Marketing, Finance Booklet Reviewed

Housing, Jobs, Poverty, Opportunity – Kerner Commission Remix, HUD and Manufactured Homes

Getting More Manufactured Home Financing Options?  HUD Comments Provide Unique Door,

EmailedMHProNewsHeadlineNewsDailyBusinessNewsDon’t be the last to know. Over 1,000 new subscribers in the past 2 months. Thousands More “Get It.”

Sign Up Today! Click here to sign up in 5 seconds for the manufactured home industry’s leading – and still growing – emailed headline news updates. You’ll see in the first issue or two why big, medium and ‘mom-and-pop’ professionals are reading these headline news items by the thousands. These are typically delivered twice weekly to your in box.

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

Follow us on Twitter:
ManufacturedHomes
@mhmsmcom

 

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.

 

 

ConfidentialNewsTipsOKTipsIreportMHNews@MHMSM-comGraphic

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.

Study Recommending New Manufactured Housing Association for Independent Retailers, Communities, Lenders, Others Released

November 15th, 2017 2 comments

WashingtonDCUSCapitolDomePixabayManufacturedHousingIndustryDailyBusinessNewsMHProNewsAs was teased earlier today, a new report has been released that recommends to manufactured housing industry companies and state associations that a new “post-production” trade association be formed to represent their unique interests.

A post-production association could be defined as an trade association that represents all those not directly connected to the building or ‘production’ of federally regulated, HUD Code manufactured homes.

Commenting on the study, MHARR President and CEO, Mark Weiss, told the Daily Business News that the “…study on the representation of the industry’s post-production sector, highlights the need for the independent, collective, national representation of that crucial sector, in order to provide it, at long last, with the aggressive representation that it deserves, and to ensure that its unique interests are fully protected, defended and advanced, without being needlessly tethered to other interests – particularly industry mega-conglomerates — which may not share the same perspectives or goals.”

MHARR’s president said that their association aren’t the best place for the industry’s post-production sector to seek representation.

The study suggests that the same problems that exist at the Manufactured Housing Institute (MHI) – for example, the built-in, apparent conflict-of-interest between manufacturers dominating all else that the association does – needs to be avoided by a new post-production association.

MarkWeissManufacturedHousingAssociationForRegulatoryReformMHARRPresidentCEOMHProNews

Mark Weiss, President and CEO of the Manufactured Housing Association for Regulatory Reform (MHARR).

While the study shows that MHARR itself is not the correct place for that representation, the Association will not only continue to provide accurate and factual information to the post-production sector as it has for many years, but will also provide its full assistance to any such new organization, after its formation and incorporation, in connection with relevant regulatory, legislative, and, if need be, legal matters,” Weiss said.

Calling it must reading for the industry, Weiss stated that, “This “must-read” study, demonstrates how the post-production sector, under its current representation model, is being short-changed and is falling well short of its full potential – with corresponding negative consequences for the broader HUD Code industry as well as consumers – in crucial areas including, but not limited to: placement, zoning, and, even more importantly, the needlessly restricted availability of competitive, lower-interest-rate consumer financing for the 80% of the manufactured home purchase-financing market represented by chattel (i.e., personal property) loans.”

The full MHARR press release to MHProNews is linked here.

The study regarding the creation of a post-production association, is linked here.

The timing and importance of the study are underscored by an exclusive report earlier today on the evolving story on Pam Danner as the administrator of the HUD Code manufactured housing program office.

Exclusive – HUD’s Manufactured Housing Program Administrator Pam Danner, Update

See that MHProNews exclusive, linked above.  “We Provide, You Decide.” © ## (News, analysis, and commentary.)

Note 1: Thanks to for those who directly and/or through social media are sharing their appreciation for our pro-Industry, pro-growth, pro-bottom line solution oriented industry coverage.

(Image credits 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.

Related: For communication, marketing, training, and other MH Professional Services, click here.

Bill Gates’ Subsidiary Belmont Plans Smart City of Future, What Role Will Factory Built Homes Play?

November 13th, 2017 Comments off

BillGatesBelmontPhoenxAZSmartCityOfFutureDailyBusinessNewsMHPronews45 Minutes west of downtown Phoenix, AZ is the site.

An operation called Belmont Partners, owned by one of the richest men in the world has just bought 25,000 acres for $80 million dollars.

Bill Gates, Microsoft’s founder, is making a splash.

The plan, the operation said in a press release is this. “Belmont will create a forward-thinking community with a communication and infrastructure spine that embraces cutting-edge technology, designed around high-speed digital networks, data centers, new manufacturing technologies and distribution models, autonomous vehicles and autonomous logistics hubs.”

News 12 in Phoenix provided the video of the site, and some background, plus additional details that has the media abuzz.  Fox, tech sites and others in mainstream media are on the story, but at this time, there are no more substantive details out there than what follows.

Bellmont Partners says they want to build a cutting edge city of the future.

BelmontPartnersBelmontAZBuildingSiteNearPHoenixAZDailyBusinessNewsMHProNEws

It will include:

  • 3,800 acres will go towards office, commercial and retail space.
  • 470 acres will be used for public schools.
  • Plus, there’s room for 80,000 residential units.”

BelmontPartnersBelmontAZRenderingHomeBuildingSiteNearPHoenixAZDailyBusinessNewsMHProNews

The artists’ rendering shown should not be considered as set in concrete.  There’s no date set for groundbreaking.

What no one in the mainstream media that we checked is saying is this.

BelmontPartnersBelmontAZMapBuildingSiteNearPHoenixAZDailyBusinessNewsMHProNEws

With some manufactured and modular builders nearby, are we to think that a futuristic city will not including some form of prefab, or one of the various kinds of factory home building?

FossbytestechblogbelmontpartnersprojectplaceholderimageDailybusinessNewsmhpronews

From sound reporting to wild-eyed speculation, Belmont is drawing a range of coverage. The above is from a tech blog, and Belmont WON’T look like this.

Recall that earlier this year, Google announced their plans to ‘go modular,’ as reported by the Daily Business News at the link below.

Meet the Modular Housing Builder Google Picked, and their “Industrial Cathedral”

In Chicagoland, a site is being prepped for a ‘modular city.’

Chicago – Massive Modular Project by European Operation Coming

80,000 housing units is almost equal to the total that the manufactured home industry produced for all of 2016.  For those not yet thinking big, will the article linked below and this Belmont announcement be the wake-up call?

State of the Manufactured Home Industry, Comparing RV vs. MH Data

The Daily Business News will monitor the developments on this emerging story. ## (News, analysis.)

(Image credits 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.

Manufactured Home Community Shut Down, Residents Barred from Homes, by Government Officials

November 8th, 2017 Comments off

CondemendUnsafeEntryJourneyEndMobileHomeParkAsbestosConcernsAllegedEPACheckingDailyBusinessNewsMHProNewsA manufactured home community industry source recently told MHProNews that, “California does not believe in property rights, plain and simple.”

In Santa Rosa, the “Journey’s End Mobile Home Park will remain closed at least until Wednesday pending laboratory test results of materials found last week in the fire-ravaged community that may contain asbestos, officials said Sunday at a community meeting,” per the local Press Democrat.

The Daily Business News has previously reported on the devastation that took place there, during the recent wildfires that ravaged that part of the Golden State.

That original story, is linked here, and one of the videos from that first Daily Business News report, is below.

The park [sic], located on Mendocino Avenue just north of Kaiser Permanente Medical Center, was shut down by city officials Friday morning following consultations with U.S. Environmental Protection Agency officials who are leading a countywide cleanup of household hazardous waste in the wake of fires that destroyed more than 5,000 Sonoma County homes.”

DefiningSICinJournalismDailyBusinessNewsMHProNews-com

SanJoeMayorPressDemocratJourneyEndMobileHomeparkCaliforniaDailyBusinessNewsMHpronew

Materials that may contain asbestos were found by EPA crews at 25 sites in Journey’s End, said Tom Dunkelman an on-scene coordinator for the federal agency, told a crowd of about 200 people at the Steele Lane Community Center, according to the Press Democrat report.

JounreyEndMobileHomeParkSantaRosaCAGoogleDailyBusinessNewsMHProNews720

The residents were not all as convinced.

A Bunch of BS, Says Resident

Louise Smith, an octogenarian who said she is park’s longest-tenured resident at 37 years, said she’s unsure if she wants to return but wasn’t impressed with the asbestos issue,” per the Press Democrat, adding, I think it’s a bunch of bull— if you ask me,” she stated to them after the meeting.

There is also some speculation that this may be used as a reason to keep the community closed, and potentially redevelop it, per local sources.

MHProNews will continue to track this story, given the numerous nuances that could impact that state and others in the industry. ## (News, analysis, commentary.)

(Image credits 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.

 

Sam Zell’s Equity Lifestyle Properties (ELS) Unique New Score

November 1st, 2017 Comments off
SamZellEquityLifestylePropertiesELSManufacturedHomeCommunitiesRVParksNotTrailerNotMobileHomeParksDailyBusinessNewsMHProNews

Photo of Sam Zell, credit, MHProNews. ELS Logo, photos are provided under fair use guidelines.

The headline on Crain’s Chicago Business quipped, “Zell’s mobile home biz courts [sic] new customer: Yacht owners.”

It was an editor/writers play on words – “mobile home,” “courts” – phrases the Equity LifeStyle Properties (ELS) Chairman would not likely embrace.  Those familiar with the billionaire real estate and investment mogul Sam Zell might recall his words in Chicago a few years ago, “Pencil head, it’s not a trailer park.”

That said, Chicago Business correctly noted a unique acquisition move by the manufactured home community giant, one that could be as significant as Clayton Homes buying site builders.

DefiningSICinJournalismDailyBusinessNewsMHProNews-com

ELS – a real estate investment trust, or REIT – has bought into the marina business to the tune of $30 million dollars for a minority interest in 11 Florida marinas.

EquityLifeStylePropertiesELSExpandedIntoMarinaYachtSlipBusiness$30MillionFLDealCrainsDailyBusinessNewsMHProNews

Sam Zell’s mobile home park [sic] company has captured the RV crowd. Now it’s going after the yachting set,” opened Crain’s Alby Gallun.

AlbyGallunCrainChicagoBusinessDailyBusinessNewsMHProNewsGallun observes that ELS already had some marina slips, as part of their manufactured home and RV communities portfolio.

Quoting a transcript of ELS’ recent conference call for analysts, “There’s a lot of opportunities for acquisitions,” said Equity LifeStyle President and CEO Marguerite Nader.  There are parallels to RV sites, in that a slip could be rented daily, monthly, or annually.

But the customer of a marina appeals to is different market than some RVers and upscale manufactured home community owners. Yacht owners are routinely in a higher tax bracket.

Sister operations to ELS are REITs Equity Residential (apartments0 and Equity Commonwealth (commercial, offices).  So when Nader noted it’s harder to obtain permission to build new marinas, and that the market isn’t as vulnerable to overbuilding as other real estate sectors, that’s likely because the office/commercial space is suffering by comparison nationally.

Including dividends, Equity LifeStyle shares have generated a total return of 22.8 percent this year, versus 6.0 percent for Equity Residential, an apartment landlord, and 0.8 percent for Equity Commonwealth, an owner of office buildings. A Bloomberg REIT Index has returned 7.2 percent this year,” stated Gallun.

MargueriteNaderPresidentCEOEquityLifestylePropertiesELSGlassDoorPostedDailyBusinessNewsMHProNewsBefore its recent marina deal, ELS already owned about a dozen marinas in and around its manufactured home land lease communities and RV parks. That portfolio of RV and MHCs is approaching 150,000 sites, which the company reported revenue of $695.3 million in the first nine months of the year.

In the marina deal, the company bought a 49 percent stake in 11 Florida marinas with more than 2,300 slips operated by Suntex Marina Investors, a Dallas firm that has been on an acquisition spree.

From an acquisition standpoint, we’ve been looking at these types of assets for a number of years, and we thought it was a good entry point with an experienced operator,” Nader told analysts.

Zell has previously noted that he’s careful who he goes into business with.

Suntex reportedly owns 44 marinas around the country, and Equity LifeStyle Properties has the right to increase its investment in that portfolio “based on certain criteria,” Nader said.

Irma and ELS

The same conference call noted post Irma impact numbers.

While the storm impacted a larger number of properties than we have experienced in the past, aside from the time to restore operations at our two properties in the (Florida) Keys, there aren’t meaningful differences between Irma and our prior storm experience,” Equity LifeStyle Chief Financial Officer Paul Seavey stated during their Oct. 17 conference call.

EquityLifeStylePropertiesELSLogoCasaDeSolGlendaleAZHitsNewRecordHighDailyBusinessNewsManufacturedHomeCommunityREITStocksMarketsReportsDataMHProNews

As MHProNews has been reporting, ELS is having a banner year. Zell, who was a skeptic about candidate Donald J. Trump prior to his election, has begun to embrace the president’s pro-business agenda. 

ELS recorded an expense of $3.7 million in the third quarter due to damage from the storm. It also recorded revenue of $3.5 million to reflect expected insurance payments to cover Irma-related damage, per their statement.

PaulSeaveyExecVPChiefFinancialOfficerEquityLifestylePropertiesELSChicagoDePaulUnivDailyBusinessNewsMHProNews

ELS is one of the public traded stocks tracked on the Daily Business News on MHProNews.  Last night’s closing numbers can be found at this link here. A follow up report on ELS will be planned, to reflect recent developments.  Stay tuned. ## (News, commentary, and analysis.)

(Image credits 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.

 

City Economies Struggling, New Court Ruling, Manufactured Housing Fix?

September 21st, 2017 Comments off

NationalLeagueCitiesDailyBusinessNewsMHProNewsThe state and local media outlet Governing reports on the looming potential for municipal economic turmoil here in the U.S.

The “National League of Cities (NLC), the report says municipal finance officers are expecting minimal growth this year — less than 1 percent,” per the report, adding “This year, 69 percent said they are better able to meet the financial needs of their communities — down from at least 80 percent in each of the last three years.”

Cities have not yet recovered to 2006 levels.  They’re not alone in the hunt for more tax revenue.

State Seeks Online Tax Collection

South Dakota’s state supreme court struck down a new law, one of several efforts by states to collect sales taxes from online businesses which have no bricks and mortar presence.

The National Retail Federation called upon Congress to pass the Remote Transactions Parity Act, which is  a bill designed to “provide protection for small businesses from any potential compliance burden,” Governing stated.

But with the SD state supreme court ruling, high court watchers believe it is possible that the case will end up with the SCOTUS’ black robes in Washington, D.C. If so, it may overturn a ruling that dates back to 1992, when internet sales were in their infancy.

legal_scales___google_images

Legal Scales, Google.

Justice Anthony M. Kennedy said that the catalogue retailer ruling was “A case questionable even when decided,” wrote in 2015, “Quill now harms states to a degree far greater than could have been anticipated earlier.”

MHProNews has examined the growing power of tech giants, and online retailers – such as Amazon. Democrats are carefully weighing the possibility of promoting anti-trust actions. Sources say that would be welcome by millions of voters, but could harm their party with some of their more generous donors.

Struggling?  Mergers May Lie Ahead

A Manhattan Institute report noted that some suburbs lack the kind of housing stock, business and public asset diversity that are necessary to jump-start a revitalization. It suggests mergers and consolidation of services may be needed to maximize budgets.

As these municipalities become progressively poorer, they are less able to finance public services without tax increases, which drives away people and business, which further reduces the tax base,” the report says. “If these fiscal conditions are paired with poor governance and corruption, a turnaround can be especially difficult.”

RevDonaldTyeJrBusinessmanManufacturedHousingAdvocateDailyBusinessNewsMHProNews

What these sources likely haven’t considered are the views of manufactured housing advocate, the Rev. Donald Tye, who has said that besides providing affordability in home ownership, that cities are overlooking the tax benefits that could accrue.

HUDPDRReportManufacturedHousingOaklandCAInfillManufacturedHousingDailyBusinessNewsMHProNews

A HUD PD&R Report, linked here, indicates that manufactured homes as infill appreciate as do their neighboring conventional homes.  Tye’s own factory built home has risen in value about 400%, per Zillow. A more recent study in the Pacific Northwest, reported at this link here, also concludes that manufactured homes are rising in value in those markets.  ##

(Image credits 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.

Tragedy Strikes, Advantage Homes Donates Manufactured Home to Victims

August 29th, 2017 Comments off
TranFamilyHomeBurntMemorialCreditMercuryNewsDailyBusinessNews

Featured image credit, Mercury News.

No one can solve the pain that these two families are experiencing right now,” San Jose Mayor Sam Liccardo said.

No family wants to experience this kind of loss, but it is so heartwarming to see so many families come out to support them emotionally and now financially to get back on their feet,” Liccardo said.

On August 15th, the Tran family of San Jose, CA, suffered a great personal loss.   Two family members and a friend died in the fire that destroyed their home, per Mercury News.

It was one adult and two children who perished in the blaze.

The adult was an uncle, Tim Bui, 62. The two children were the Tran’s 10-year-old daughter Uyen Tran, and her close friend, Linda Van, also 10.

Residents of Golden Wheel Mobile Home Park said the two girls were inseparable. Until the remains of a second child were finally found, Van had been considered missing.

One resident claims to have heard a small explosion. The uncle then caught fire, and collapsed.

The cause of the fire is still under investigation by the Bureau of Alcohol, Tobacco, Firearms and Explosions.

SanJoseMapCreditGoogleMapsDailyBusinessNews

San Jose, CA in relation to San Francisco, CA. Image credit, Google Maps.

An Outpouring of Community Support, and a New Manufactured Home

ToddSuCreditLinkedInDailyBusinessNews

Todd Su, owner of Advantage Homes. Image credit, LinkedIn.

Todd and Cindy Su are the owners of Advantage Homes, the largest manufactured home retailer in the Bay Area, per KTVU.

Su has been spotlighted by MHLivingNews on more than one occasion, a recent example, linked here.

When they found out about the tragedy, the Tran family was going through wanted to do that could help.

We found out there was no insurance on the home,” Todd Su said. “Currently they have nowhere to live. I asked them what they were going to do and they said they were going to be homeless.”

The Su’s have donated a brand new manufactured home to the family. The three-bedroom, two-bathroom home is valued at $200,000, and will have a cement base and fire retardant siding.

It never can replace the deep loss of an uncle and two beautiful angels in the community,” said San Jose City Councilman Tam Nguyen. “However, I think with that it shows how much it shows we love them.”

Along with the manufactured home, the family has received a $100,000 check from Kieu Hoang, CEO of Rare Antibody Antigen Supply Inc., per CBS Local, San Francisco. Hoang is a billionaire who previously donated $5 million to San Jose Coyote Creek flood victims earlier this year in March.

Several other donations came in from of

  • a GoFundMe page set-up by neighbors,
  • the Nhat Tham Charity,
  • Lillian Dang and friends,
  • and the California Manufactured Housing Institute (CMHI).

Another Great Example of the MH Industry Giving Back

While the circumstances that left the Tran family in need of a new home are tragic, it is good to see the Su’s donating a new home to help them work through it. It is yet another example of how some businesses within the manufactured housing industry make it a point to give back to their community.

TranFamilyGrievingFatalFireCreditMercuryNewsDailyBusinessNews

Tran parents, grieving the loss of their family members. Image credit, Mercury News.

The Daily Business News often spotlights such acts – like the annual scholarships provided by First State Manufactured Housing Association for students living in manufactured homes in Delaware.

Or Clayton Homes donating their older employee accommodations to Blazing Home Ranch, who houses survivors of human trafficking. Vanderbilt Mortgage, the captive financing arm of Clayton Homes, made a monetary donation to the same nonprofit organization as well.

AnIndustryWithHeartTomorrowsHomeFoundationWiscHousingAllianceMobileManufacturedHomeLivingNews-310x165

Or the Wisconsin Housing Alliance’s (WHA) Tomorrow’s Home Foundation.

The Su’s donation is an act of kindness that spotlights the good that flows from the manufactured home industry, in this case, when a family was in great need.

I don’t think we expected this type of tremendous response. This is unheard of — to have a brand new home,” said San Jose Councilmen Raul Peralez. “The family was in tears. They’re without a home right now and they’re staying with family. To not have to worry about where they’ll go next is really important.” ## (News, commentary.)

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

JuliaGranowiczManufacturedHomeLivingNewsMHProNews-comSubmitted by Julia Granowicz to the Daily Business News for MHProNews.