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More Confident About Future than 3 Years Ago, Americans Still Have Concerns, Per New Survey, MH Industry Opportunities

April 3rd, 2019 Comments off

 

MoreConfidentAboutFutureThan3YearsAgoAmericansStillHaveConcernsPerNewSurveyMHIndustryOpportunitiesDailyBusinessNewsMHProNews600

CNBC and Survey Monkey conducted a survey of some 2,300 Americans in March, 2019. This is a particularly apt example of how “News through the lens of manufactured homes, and factory-built housing© could significantly reshape for the better the lives of millions of Americans.

 

Before turning to the MHProNews analysis, let’s begin with what the CNBC and SurveyMonkey research results discovered.

 

  • In the 45-to-54 age group, 35 percent of survey respondents peg “being able to save enough for retirement” as their top personal finance concern. Among people ages 55 to 64, that share is 42 percent.
  • Experts say if you’re feeling more confident about your financial situation, it’s a good opportunity to address your savings anxiety.
  • Putting a plan in place — whether you have a savings shortfall or not — can go a long way toward having peace of mind.

Failing at Money CNBC Video

 

 

  • While the Great Recession that ended in mid-2009 is far in the rearview mirror, recovering from it proved challenging for many people. And competing priorities — including home purchases, college educations, unexpected financial emergencies, higher health expenses — have squeezed a lot of household budgets.
  • Yet now, with the economy in its 10th year of expansion, wages creeping up and unemployment below 4 percent, experts say being in a better place financially is a good opportunity to address your savings anxiety.
  • If you haven’t already engaged in financial planning or done your own analysis, now is a good time to do it,” Boneparth said. “When you don’t do a retirement plan, you’re just guessing and shooting from the hip.”

 

Compared3YearsAgoMoreLessConfidentSavingsByAgeGroupCNBCDailyBusinessNewsMHProNEws

 

Now, as a ‘financial news channel,’ that last bullet is a pitch for turning to financial advisors.  We’re just stating the obvious, there are certainly pluses or minuses to that, depending on the advisor involved.

The news is good, but it could be better. How so?  Short answer?

 

 

By more opting to own manufactured homes than other more costly forms of housing.

 

Compared3YearsAgoMoreConfidentSaveForRetirementRepublicanIndependentDemocratCNBCDailyBusinessNewsMHProNews

But what this report – as is so often the case – doesn’t touch upon is the role that modern manufactured homes could positively shake up the lives of millions of Americans.

 

Recall what Professor Ken Johnson from Florida Atlantic University (FAU) told MHLivingNews.  He explained that saving money on housing, and using that savings for retirement or other positive goals could put many Americans ahead of the curve financially.

 

 

There are any number of potential appeals that manufactured home sellers, advocates, and promoters could raise.

But what the industry is witnessing instead is arguably posturing promotion, fig leaf efforts, rather than a robust muscular move to get millions of Americans to seriously consider the manufactured home alternative.

That doesn’t require a national program.  Rather, it is arguably best done at the local level, because no two markets are quite the same.

The report below addresses one of the issues that causes potential manufactured housing buyers from taking a serious look.

 

Debunking the Trailer Trash Stigma for Affordable, Modern Manufactured Housing for Residents, Home Shoppers

Other issues that may be diverting potential shoppers from manufactured home communities and retail centers are found in more links below the byline and notices.  The video below is one of several from the report linked above.

 

 

That’s this morning’s look at “News Through the Lens of Manufactured Homes, and Factory-Built Housing” © where “We Provide, You Decide.” © ## (News, analysis, and commentary.)

 

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

 

 

Related Reports:

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Celebrities, Millionaires, Billionaires and Their Appealing Manufactured Homes

The First Step to Problem Solving and #HousingChoice

FEAR, a Solution to the Affordable Housing Crisis, and the Manufactured Home Dilemma

 

 

 

 

 

 

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Cavco Industries Announces Latest Executive Level Changes

April 3rd, 2019 Comments off

CavcoIndustriesCVCOannouncesLatestExecutiveLevelChangesShareholdersInvestigationsMHProNews

In a media release, Cavco Industries (CVCO) has notified the Daily Business News on MHProNews of their latest executive changes.  Industry watchers see signs that the moves continue to be efforts to rebuild investor confidence in a firm rocked last November by the sudden departure of Joe Stegmayer as Chairman and Chief Executive Officer (CEO), following a subpoena from the Securities and Exchange Commission (SEC) over alleged irregularities.

 

The meat of their release on is as follows, and will be accompanied by additional insights, observations, and analysis not found in the current GlobeWire release.  Publication of this release should not be construed to be a reflection for or against their firm or its stock.

 

Cavco Industries Names William Boor Chief Executive Officer

April 02, 2019 17:15 ET | Source: Cavco Industries, Inc.

Acting CEO Daniel Urness to resume former role of Chief Financial Officer

Steven Bunger assumes non-executive Chair of the Board responsibilities

Richard Kerley appointed Audit Committee Chair

Cavco Industries, Inc. (NASDAQ: CVCO) (“the “Company”) today announced that its Board of Directors (the “Board”) has appointed William Boor as Chief Executive Officer (“CEO”), effective April 15, 2019. Mr. Boor will succeed Daniel Urness, who served as President and Acting Chief Executive Officer since November 2018. Mr. Urness will resume his former role of Executive Vice President, Chief Financial Officer and Treasurer, also effective April 15, 2019.

Mr. Boor assumes his new role as CEO with over 10 years of experience with Cavco, most recently serving as non-executive Chairman of the Board for the Company. Mr. Boor joined Cavco as an independent member of the Board in 2008. Several years prior to his service on the Cavco Board, Mr. Boor held the position of Vice President, Corporate Development at Centex Corporation while Cavco was a subsidiary of Centex. During that tenure, Mr. Boor worked on developing and implementing Cavco’s business strategy and participated in its eventual spin-off in 2003.

As CEO, Mr. Boor will be responsible for day-to-day leadership of the Company.

Mr. Boor will remain a member of the Company’s Board of Directors. The Board has named independent Board member Steven Bunger to serve as the Company’s new non-executive Chair of the Board. Richard Kerley has been appointed Chairman of the Audit Committee. Both of these Board appointments are effective immediately.

“After thoughtful consideration of options to strengthen the management team, the Board concluded Bill is the right choice to assume the CEO role,” commented Mr. Bunger, new non-executive Chair of Board. “Bill is a strong and proven leader, who has a successful track record of managing large, complex businesses and working across a range of executive roles in public companies. His significant knowledge and insights into Cavco’s business, from his tenure on the Board and previous strategic work with the company, provide the immediate and long-term ability needed to lead the execution of our strategic plan and focus on operational excellence.”

“The Board would like to thank Dan Urness for his leadership and contributions over the last five months as Acting CEO during an important period of transition. We are pleased he will remain an important part of our leadership team,” commented Mr. Boor. “I’ve had the pleasure of working closely with Dan for many years while I was Chairman of the Audit Committee and I look forward to working closely with him in the coming years.”

Mr. Boor added, “Cavco’s strong track record speaks for itself and we remain very well-positioned for the future. I’m excited to have the opportunity to lead the Company’s next chapter, working closely with the Board, and the entire Cavco team, to help the Company deliver value to all stakeholders including customers, employees, partners, and investors.”

William Boor, Chief Executive Officer
Mr. Boor, Chairman of the Company’s Audit Committee, a member of the Company’s Compensation Committee and an independent member of the Board since July 2008, most recently assumed the role of non-executive Chairman of the Board. Most recently, Mr. Boor held the role of Chief Executive Officer of Great Lakes Brewing Company, a large craft brewery in Cleveland, Ohio, a position he has held since 2015. From 2007 to 2014, Mr. Boor served in various executive positions with Cliffs Natural Resources, Inc. (“Cliffs”), most recently serving as Executive Vice President – Corporate Development and Chief Strategy/Risk Officer and President-Ferroalloys. Among other roles prior to Cliffs, Mr. Boor held the position of Vice President, Corporate Development at Centex Corporation. During that tenure, Cavco was a subsidiary of Centex, and Mr. Boor worked on the Cavco strategy and its eventual spin-off in 2003. Mr. Boor earned an engineering degree from Penn State University and a Master of Business Administration degree from Harvard Business School. He is also a CFA charterholder.

Daniel Urness, Chief Financial Officer
Mr. Urness was Cavco’s Executive Vice President, Chief Financial Officer and Treasurer from April 2015 until August 2018, where he transitioned into the role of President and Acting Chief Executive Officer in November 2018. Mr. Urness also served as Cavco’s Vice President, Chief Financial Officer and Treasurer from January 2006 to April 2015 and as a director and/or officer of certain of Cavco’s major subsidiaries, including Palm Harbor Homes, Inc., Fleetwood Homes, Inc., CountryPlace Acceptance Corp. and Standard Casualty Company. Mr. Urness was also Cavco’s Interim Chief Financial Officer from August 2005 to January 2006, Corporate Controller from May 2005 to August 2005, financial consultant to the Company from June 2002 to May 2005 and Controller from May 1999 to June 2002. Prior to joining Cavco, Mr. Urness served as manager and staff accountant at Deloitte & Touche LLP for approximately six years.

Steven Bunger, Chair of the Board
Mr. Steven G. Bunger is an Independent Director of Cavco Industries, Inc. Mr. Bunger is currently President and Chief Executive Officer of Pro Box Portable Storage, Inc., a provider of portable storage solutions in Arizona, Colorado, and Oklahoma. From 2001 until December 31, 2012, he served as Chairman of the Board of Mobile Mini, Inc. the nation’s largest publicly-owned provider of portable storage containers and mobile offices. He was also the President and Chief Executive Officer of Mobile Mini Inc., having served in those capacities from 1997 to 2012. Mr. Bunger joined Mobile Mini in 1983 and held numerous positions with the company, including Vice President of Operations and Marketing and Executive Vice President and Chief Operating Officer.

Richard Kerley, Audit Committee Chairman
Mr. Kerley served as the Senior Vice President, Chief Financial Officer and member of the Board of Peter Piper, Inc., a privately-held pizza and entertainment restaurant chain, from November 2008 to December 2014, when he retired. Previously, Mr. Kerley served as the Chief Financial Officer of Fender Musical Instruments Corporation, from July 2005 to October 2008. From June 1981 to July 2005, Mr. Kerley was an audit partner with Deloitte & Touche LLP. Prior to becoming a partner at Deloitte & Touche LLP, Mr. Kerley served as an audit manager and staff accountant from August 1971 to June 1981. Mr. Kerley also currently serves on the board of The Providence Service Corporation, a publicly traded holding company whose subsidiaries provide high quality, technology-enabled healthcare services, and The Joint Corp., a publicly traded operator, manager and franchisor of chiropractic clinics. Mr. Kerley received a bachelor’s degree in accounting from Marshall University in 1971.

 

Looking Back…

Industry watchers and legal minds note that prior statements this year from Cavco reflected specific steps aimed at strengthening their perceived position with respect to whatever the SEC and shareholders plaintiffs’ attorneys are preparing.

For example, on the dates noted:

PHOENIX, Feb. 07, 2019 — Cavco Industries, Inc. (NASDAQ: CVCO) (“Cavco” or the “Company”) today announced that the Company has named Mickey R. Dragash (“Mick”) as Executive Vice President, General Counsel, Chief Compliance Officer, and Corporate Secretary effective February 6, 2019.

In his new role, Mr. Dragash will lead Cavco’s legal and compliance functions. Mr. Dragash will also serve as a member of the Company’s Executive Management team and will report to Dan Urness, President and Acting Chief Executive Officer.

“Mick is an excellent addition to our leadership team,” commented Dan Urness, President and Acting Chief Executive Officer. “He is a proven executive with extensive experience in leading legal and compliance functions and supporting strategic initiatives across an organization. Mick’s thoughtful judgment and business-focused approach will be an asset as we continue to execute our growth strategy.”

“I am very pleased to have the opportunity to lead Cavco’s legal team and compliance function,” added Mr. Dragash. “I look forward to working closely with Dan, the leadership team, and the Board of Directors to build on the Company’s long-term success.”

Mickey R. Dragash’s Background

Mr. Dragash brings significant legal, compliance and operational experience to Cavco. From June 2015 to September 2017, Mr. Dragash served as Executive Vice-President, General Counsel and Corporate Secretary of Swift Transportation, Inc. (n/k/a Knight-Swift Transportation Holdings Inc. (“Swift”)). Prior to joining Swift, Mr. Dragash was Executive Vice-President, General Counsel and Chief Compliance Officer for Gordon Trucking, Inc. (n/k/a Heartland Express, Inc.) from 2013 to 2015. Mr. Dragash also served as Associate General Counsel for DHL Supply Chain Solutions from 2010 to 2013 and Assistant General Counsel at Walmart Stores, Inc. from 2004 to 2010. Mr. Dragash also worked in private legal practice as an Associate for the Ohio-based law firm Roetzel & Andress, LPA. Before entering the legal profession, Mr. Dragash worked in various business and operational capacities for both Yellow Freight Systems, Inc. and Roadway Express, Inc. (n/k/a YRC Worldwide, Inc.)

Mr. Dragash received his Bachelor of Arts degree from Baldwin-Wallace University (Ohio), obtained a Master of Science degree in Transportation Systems and Logistics Management from the University of Denver and acquired his Juris Doctorate from Ohio Northern University. Mr. Dragash is admitted to practice law in all state and federal courts of Indiana and Ohio. He is also admitted to the State Bar of Arizona as in-house counsel.

Also…

PHOENIX, Jan. 08, 2019 — Cavco Industries, Inc. (NASDAQ: CVCO) today announced that its Board of Directors (“Board”) appointed Susan L. Blount as an independent director of the Company’s Board. Ms. Blount, an experienced financial services executive, retired as Executive Vice President and General Counsel of Prudential Financial, Inc. in 2015, having served as General Counsel since 2005.

Ms. Blount’s appointment fills the vacancy on Cavco’s Board and brings its current membership to five directors, all of whom are independent. She will be a member of the Company’s Corporate Governance and Nominating Committee and the Company’s Compensation Committee.

“We are extremely pleased to welcome Susan Blount to our Board,” commented William Boor, non-executive Chairman of the Board of Cavco. “Susan’s accomplishments speak for themselves. She has significant and very relevant experience in strategy, corporate governance, risk and compliance in both the public and private sectors.”

Mr. Boor continued, “Susan’s addition reflects our commitment to enhance the Board’s capabilities and diversity. We look forward to getting the benefit of her insights, judgment and counsel, and we are confident that Susan will make a meaningful and very positive impact on our Company’s future success.”

“I am excited to join and begin to work with the Cavco Board as we move into 2019,” said Ms. Blount. “Cavco fills an important role in the US housing market and the Company has impressed me with its strong commitment to governance and focus on superior stockholder returns.”

“Ms. Blount is an outstanding addition to our Board,” added Daniel Urness, President and Acting Chief Executive Officer of Cavco. “Her public company and diverse corporate management experience will offer fresh perspectives and oversight to help our leadership team enhance long-term shareholder value.”

Susan L. Blount

From 2005 to 2015, Susan Blount served as General Counsel of Prudential Financial, Inc. (Prudential), a leading provider of insurance, retirement and asset management products and services. In that role, Ms. Blount led the company’s global law, compliance, business ethics and external affairs organization. During that time, Ms. Blount was a member of key senior management committees including the Office of the Chairman Group, the Enterprise Risk Committee and the Capital and Financial Controls Committee. Ms. Blount joined Prudential in 1985 as a staff attorney in the company’s commercial real estate organization. Before being appointed General Counsel, she held various positions of increasing responsibility, including Chief Investment Counsel, Vice President and Corporate Secretary, and Associate General Counsel and Head of Shareholder Service. Prior to joining Prudential, Ms. Blount was an Associate at Kirkland & Ellis.

In 2017, Ms. Blount was an Advanced Leadership Initiative Fellow at Harvard University. Since 2016, she has taught as an adjunct professor at the University of Texas School of Law. Ms. Blount is active in professional and community service. She currently serves on the University of Texas Law School Foundation, the Executive Committee of the Center for Women in Law and the Nantucket Historical Association. Ms. Blount has also served on the Boards of organizations such as Montclair State University, the Leadership Council for Legal Diversity, the Association of Corporate Counsel and the New Jersey Law and Education Empowerment Project. She has also been a faculty member at Stanford University’s annual Directors’ College and a participant in Stanford’s Institutional Investors Forum.

Ms. Blount graduated from The University of Texas at Austin with a bachelor’s degree in history and a juris doctor with honors.  

Shareholders Concerns

Some of the shareholders focused law firms that have announced “investigations” into Cavco are reflected in the screen capture, below.

 

CavcoIndustriesCVCOShareholdersInvestigationsDailyBusinessNewsMHProNews

Some might wonder why Joe Stegmayer is still Chairman of the Board at the Manufactured Housing Institute (MHI)?  See the screen capture below from their website this morning.

ManufacturedHousingInstiuteMHIboardofDirectors4.3.2019DailyBusinessNewsMHProNews

The trend lines per Bloomberg and others are sobering.  It is but one more example of the avoidable tragedies that manufactured housing represents. The industry should be soaring, and instead, it is snoring. Thoughtful people ask two questions.  ‘Why?’ and ‘Cui bono?’ Latin for, Who benefits?

 

BloombergCavco4.2.2019TickerDailyBusienssNewsMHProNews

For more related reports, further below the byline and notices.

That’s today’s latest episode of “News through the lens of manufactured homes, and factory-built housing.” © where “We Provide, You Decide.” © ## (News, analysis, and commentary.)

 

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

 

 

Related Reports:

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What’s Coming at Cavco Industries (CVCO), Plus Manufactured Housing Industry Stock Updates

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“Fight Like Hell” for Independence, Says Trustee – Manufactured Housing Inspiration?

April 3rd, 2019 Comments off

 

FightLikeHellForIndependenceSaysTrusteeManufacturedHousingInspirationDailyBusinessNewsMHProNews600

The story from the Boston Globe has nothing on the surface to do with housing, much less factory-built housing. But it had much to do with independence, and the willingness to fight in an arguably increasingly monopolistic, manipulated or ‘rigged system’ society.  Who says? The New York Times, see the column, linked here.

 

A snapshot from outside of our manufactured home industry is worthy of a few moments consideration to gird you or others as to the nature of the struggle – and the inspiration needed – to the good fight for independence.  Because manipulation and ‘rigged systems’ are not only found in our industry, they are increasingly evident elsewhere too.

Here’s what the left-of-center Boston Globe sent to the Daily Business News on MHProNews yesterday, and we’ll then look at what this tale should inspire in our industry’s professionals, investors, and others keen on affordable housing for millions of Americans.

 

BostonGlobeTwoTrusteesQuitDiscordHampshireCollegeFutureDailyBusinessNewsMHProNews

Two Hampshire College trustees have resigned in recent weeks, a result of the increasing acrimony enveloping the board as it charts an uncertain future for the liberal arts school.

Gaye Hill, the board chairwoman, resigned this week, saying she had become a lightning rod. Another trustee, Mingda Zhao, also stepped down, saying he was forced out.

Zhao’s resignation letter offers a hint about what’s next for the private Amherst college. It says board leaders seem to be pushing for the school to close and be acquired by another institution. But he said it is also possible to “fight like hell” to keep the school open and independent,” said the Boston Globe, in an article linked here.

MingdaZhaoHampshireCollegeDailyBusinessNewsMHProNews

 

What Zhao is describing, per the Boston Globe, is what could be called a backstab of the college by various people with ‘special interests,’ including other members of its own board of directors. Stop and think. How is that different than the Manufactured Housing Institute (MHI) being accused of betraying the interests of the independents in the manufactured housing industry?

 

Yesterday two different reports came into MHProNews from two different sources that represent different parts of the manufactured housing industry.  One came in from NAHMCO, the National Association of Manufactured Housing Community Owners. Another came in and had already been published from the Manufactured Housing Association for Regulatory Reform (MHARR).  ICYMI, see the linked text-image box below for that report.

 

Historic Manufactured Housing Industry Decisions Were Made Here on 3.27.2019

 

While entirely different, each one reflects a vote of no-confidence by their respective associations and members in the so-called leadership of Arlington, VA based MHI.

Washington, D.C. based MHARR cites post-production issues that the see MHI as having not only failed at, but arguably having manipulated against the interests of the majority of firms in the manufactured home industry.  Among the points they made was diversion of Duty to Serve (DTS) financing by the Government Sponsored Enterprises (GSEs) away from the majority of manufactured homes into an untested program promoted by industry giant Clayton Homes. Clayton, a Berkshire Hathaway brand along with others in the manufactured home industry, is widely seen as dominating MHI, along with other ‘big boy’ companies, as MHI award winner Marty Lavin, JD, has put it.

NAMHCO also cited DTS yesterday and the need to obtain more market rate financing. The NAMHCO statement bears some clarifying, which MHProNews plans to do in the days ahead before publishing their full document.  But it is noteworthy that NAMHCO – still in its infancy – and MHARR, decades established, de facto or explicitly take a viewpoint contrary to the happy talk fed by MHI to their members and state association affiliates.

 

Why Is There a Need to Fight to Implement Existing Laws?

That existing laws have to be fought to get them properly implemented is itself an outrage. Manufactured housing enjoys some of the finest federal laws that consumers or the industry’s honorable professionals could want.

The reality is that those laws are not being implemented. Cities and local jurisdictions are increasingly limiting or banning manufactured housing. And when one pulls back the veil on why those laws are not being implemented, time and again, there is evidence that a Berkshire brand or other MHI connected firm is benefiting at the expense of independents.

Barbara Hames of Hames Homes in Iowa may or may not have thought much about the fact that Havenpark Capital is an MHI member. She may or may not have thought much about how the apparent collusion between 21st and Clayton Homes, with no warnings from MHI, arguably harmed the interests of the communities she has now sold. Would Hames have sold at all, in the absence of the market manipulation by 21st, Clayton Homes, and Warren Buffett led Berkshire Hathaway documented at the link here?

 

Where Was The Buffett Mantra in Tunica Last Week?

What independent industry professionals and others must consider is this question. When Warren Buffett preaches the importance of protecting a firm’s reputation, why did Clayton, 21st and MHI all decline to attend the meeting of independents? Those independents wanted to hear first-hand what the counter argument might be to the documents and video linked above and here. Those independents wanted to hear that directly from the horses mouth.

Why did Clayton, 21st, MHI, Fannie Mae, et al stay silent?

Those manufactured home industry independents – including representatives from MHARR and NAMHCO.  They and those in attendance reflected the interests of some 200 industry locations.  They were there to begin the process that NAMHCO started some 2 years ago, or that MHARR began decades ago.

Like Zhao urged those that want to save their college from a takeover, the independents of manufactured housing must “fight like hell” if they want to stay independent.  How else will they survive the purported market manipulations and failures to act that the Omaha-Knoxville-Arlington axis and their allies stand credibly accused of, and failed to respond to once more in Tunica last week. Their trade media surrogates likewise opted not to attend, is it any surprise?

Susan Brenton told the independents there at Tunica that she saw value to their doing what NAMHCO has already started. It is worth noting that NAMHCO, as a post-production association, has a D.C. lobbyist, but not Washington metro office at this time.  That’s a reminder that a post-production trade group has no specific need for a costly D.C. metro office.

While there are obvious expenses to forging a new non-producers trade body, it is modest compared to the potential upside. The ‘Axis’ in manufactured housing obviously hopes it is never formed, as former MHI chair Nathan Smith quickly slammed NAMHCO in a written statement a few months ago, as the article linked further below the byline and notices reminds readers.

Affordable housing isn’t a partisan issue. It matters not if the person fighting for affordable manufactured homes is a Democrat, Republican, or an Independent. That is underscored in another article linked below.

Democrats, Republicans Agree – “Manufactured Homes Can Play a Vital Role in Easing” the Affordable Housing Shortage

The fear tactics, restraint of trade, manipulation of access to financing and other methods arguably being employed by specific Omaha-Knoxville-Arlington connected brands have arguably cost the industry’s professionals tens of billions of dollars since Warren Buffett made the move in 2003 to buy Clayton and it’s affiliated lenders, and control other organizations.

Fortunately, Berkshire has the deep pockets to pay those billions. Instead of proposing problematic or unconstitutional wealth taxes, and other floated notions by 2020 candidates, why don’t they focus their energy and talents on something that is doable, legal and useful?

 

Who Will Act? Will Senator Elizabeth Warren, and/or the Trump Administration Act to Restore Open Markets, Thereby Supporting Affordable Manufactured Homes?

 

Why not break up Berkshire, do whatever the law allows with MHI, and fine them billions as the EU has Google for violations of antitrust and other laws?  Why not make an example of them, so that others won’t be tempted to so manipulate this industry or any other ever again?

As independents begin the process of organizing, the time is now.  Like Zhao suggested in his scenario, one must fight like hell, for a heavenly cause.

That’s this morning’s first look at “News Through the Lens of Manufactured Homes, and Factory-Built Housing” © where “We Provide, You Decide.” © ## (News, analysis, and commentary.)

 

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

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

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

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

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

 

 

Related Reports:

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

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

 

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Sun Tzu – Ultimate Manufactured Home Freedom Alliance

 

 

 

 

 

 

 

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Historic Manufactured Housing Industry Decisions Were Made Here on 3.27.2019

April 2nd, 2019 Comments off

 

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In a statement today to recapping what they are calling Bold New Initiatives,” the Washington, D.C. based Manufactured Housing Association for Regulatory Reform (MHARR) is taking aim at issues to get to some underlying challenges facing manufactured housing going that arise from post-production scenarios.

 

MHARR and its members have kept these items under close wraps, as the Daily Business News on MHProNews learned about these core details through this release.

Here was the full MHARR statement today.

 

MHARRNEWSheaderDailyBusinessNewsMHProNews

 

MHARR BOARD HOLDS HIGHLY PRODUCTIVE

MEETING — ADOPTS BOLD NEW INITIATIVES

 

Washington, D.C., April 2, 2019 – Despite producing its best homes ever, at a price point that is inherently affordable for virtually every American family, in a market environment featuring an ever-growing need for affordable homeownership and housing resources, the production and market-share of the federally-regulated manufactured housing industry continues to lag well behind not only the single-family housing market as a whole, but also the twenty and thirty-year historical production norms for the HUD Code industry itself.  Confronting, as it does, a myriad of factors and challenges in the post-production arena that have combined to stunt the growth and expansion of the industry to levels far below what would otherwise be expected given an expanding population, job growth, and a prospering economy, the Manufactured Housing Association for Regulatory Reform (MHARR), at its March 27, 2019 Board of Directors meeting, adopted a bold plan of action to begin addressing key issues that the broader industry has failed to resolve, which have paralyzed the HUD Code market after the industry’s outstanding homes leave the factory. In addition, to lead this aggressive agenda, MHARR members elected an experienced slate of Association officers, to be led by John Bostick, President and CEO of Sunshine Homes, Inc., who will return as MHARR Chairman.

MHARR members, at their bi-annual Board of Directors meeting, identified, in particular, three post-production-related matters that, both short and long-term, have vexed the industry and American consumers of affordable housing, and the ability of the industry as a whole to fully serve the housing needs of vast numbers of Americans, contrary to both the letter of federal law and the will and intent of Congress, as set out quite plainly in both the Manufactured Housing Improvement Act of 2000 with regard to production and consumer protection, and the “Duty to Serve Underserved Markets” (DTS) provision of the Housing and Economic Recovery Act of 2008 (HERA) with regard to affordable and competitive consumer financing. These matters, which will now become the major focus of MHARR activity to take the lead within the industry to fully and completely implement both such existing laws, include:

(1) exclusionary/discriminatory zoning mandates;

(2) other placement restrictions or exclusions (principally affecting the development of manufactured housing communities); and

(3) the availability of consumer financing.

Discriminatory zoning – zoning restrictions or exclusions targeted at manufactured housing and manufactured housing consumers over large areas of the United States, and the failure of the broader industry to effectively fight and address those mandates – is a crucial aspect of the industry’s inability to expand and better serve the housing and homeownership needs of large numbers of Americans. To begin addressing this issue with the urgency that it deserves and warrants, MHARR will work cooperatively with state-level industry associations to target a sample set of localities with major and/or obvious discriminatory prohibitions against HUD Code manufactured homes, and, following appropriate fact-finding, will mount an aggressive campaign against those prohibitions, including litigation, if necessary, to the highest level that may be needed.

Similarly, in the related area of placement and placement restrictions/prohibitions that limit or preclude the development of new manufactured home communities and/or the expansion of existing communities – both of which are essential to ensuring the availability of inherently affordable manufactured homes for every American who wants one, and the economic expansion of the industry – MHARR will likewise work cooperatively with state-level industry associations to seek out egregious examples of discrimination against the industry and its consumers, and will take aggressive action to address those mandates as well.

Rounding-out MHARR’s three major post-production focus areas, is the matter of consumer financing and the full, market-significant implementation of the “Duty to Serve Underserved Markets” mandate by Fannie Mae, Freddie Mac and the Federal Housing Finance Agency (FHFA). Despite targeted marketing to industry members, the Government Sponsored Enterprises (GSEs) – more than a decade after the enactment of DTS – have done little or nothing to even begin serving the largest segment of HUD Code industry consumer financing, represented by home-only personal property (or “chattel”) loans, which comprise nearly 80% of the entire manufactured housing market.  Despite years of promises (including decades of promises before the adoption of DTS), Fannie Mae and Freddie Mac have not only failed to deliver – but have been allowed to fail to deliver — anything in the way of market-significant support for the vast bulk of the manufactured housing market and instead – supported by the Manufactured Housing Institute (MHI) — have diverted much of their focus to a “new class” of manufactured homes at a price point that is significantly higher than mainstream manufactured housing. This diversion of DTS benefits to the industry’s largest entities and higher-cost market-dominant lenders, rather than attracting new lenders and promoting the type of market competition that would result in lower interest rates and greater affordability for consumers.

To address these matters, MHARR will take aggressive action, both in Congress and within the Administration (including the Office of Management and Budget, the Treasury Department and HUD) to press for full GSE/FHFA compliance with DTS – and expanded manufactured home consumer lending support from the Federal Housing Administration (FHA) and Ginnie Mae – to expand the availability of consumer financing for the mainstream HUD Code market and promote greater competition and affordability for consumers.

In addition to these matters centered within the post-production arena, MHARR members also directed the Association to: (1) continue to aggressively oppose (including via litigation, if necessary and appropriate) discriminatory manufactured housing energy regulation by the U.S. Department of Energy (DOE), as is still being sought and promoted by energy special interests; (2) press for the conclusion and effective implementation of HUD’s regulatory reform activities pursuant to Trump Administration Executive Orders 13771 and 13777; and (3) take action to ensure full and fair competition (as required by federal law) for the next HUD monitoring contract.  In this regard, MHARR has already had a dialogue with senior-level HUD contracting personnel to stress the need for fair and open competition and a new contractor after more than 40-years of de facto sole-source contract procurements and awards.

Lastly, MHARR members had an opportunity to speak with representatives of the Federal Emergency Management Agency (FEMA), who gave a comprehensive presentation to MHARR manufacturers and answered questions regarding the next FEMA procurement of manufactured homes for use in emergencies.  The productive dialogue was extremely useful for the independent manufacturers which comprise MHARR and reflects a laudable commitment by FEMA to include smaller, independent HUD Code producers in the procurement process to provide essential housing assistance to victims of natural disasters going forward.

 

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

— 30 —

 

The same release on MHARR’s website is found at the link below.

 

MHARR Board Holds Highly Productive Meeting — Adopts Bold New Initiatives

 

That’s tonight’s installment of manufactured home “Industry News, Tips, and Views Pros Can Use,” © where “We Provide, You Decide.” © ## (News, analysis, and commentary.)

 

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

 

 

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Not Just Trade, Steve Bannon Says China Threat to U.S., Western Industrial Democracies, plus, MH Market Updates

April 2nd, 2019 Comments off

CNNmone4.2.2019ManufacturedHomeStocksMarketsReportsMHProNewsHappy talk is easier to listen to than serious or sobering words. There are ‘hawks’ that continue to sound warnings about China. Steve Bannon says he is one of them. It is a message not often heard in the U.S., and this one was carried by left-of-center CNBC

 

While others talk about ‘Russia,’ Bannon says the Russians are “a side show.”  The existential threat – including on trade – per Bannon is with Communist China and their hybrid economic and military model.  On a day where the major markets and more MH track stocks slip than rose, former Trump Campaign and White House advisor Bannon’s comments on China – as trade talks drag on – are our focus for this evening.

 

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

 

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

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

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

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

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

 

FoxCNNBloombergCNBCLeftRightMEdiaDivideManufacturedHousingIndustryNews

 

Select bullets from CNN Money…

  • ‘The men I trained made more than me’
  • What happened when these women found out what their male colleagues made
  • The future of the American economy is Hispanic and female
  • US auto plants would shut down within a week if the border closes, economist says
  • Get ready for a big drop in Tesla sales
  • LIVE UPDATES Dow closes lower, dragged down by Walgreens
  • First-quarter earnings will stink. Ignore them
  • ANALYSIS The worst isn’t over for Walgreens
  • In some new cars and e-scooters, it isn’t up to you how fast you drive
  • Shell quits major US oil lobby over climate change
  • Netflix is raising prices next month
  • Goldman Sachs plans to hire more neurodiverse employees, including people on the autism spectrum
  • GE bets on offshore wind as fossil fuels business stumbles
  • ‘Avengers: Endgame’ pre-sale creates long lines on Fandango and causes AMC site to crash
  • Amazon is struggling to convince Prime members to go to Whole Foods. So it’s slashing prices
  • Trump’s border shutdown would hit avocados, beer and cars
  • Theranos whistleblowers launch tech ethics venture
  • Theranos employees struggle to put scandal behind them
  • HBO Theranos documentary goes inside the secretive, failed company
  • Director calls disgraced Theranos founder ‘delusional’
  • CHANGING TIMES AT GOLDMAN SACHS
  • Goldman Sachs plans to hire more neurodiverse employees
  • The bank says it must hire more women and minorities
  • Employees told they can dress down at Goldman Sachs
  • One of the world’s biggest investors breaks up with Goldman Sachs.

Select Bullets from Fox Business

  • Auto sales sluggish in 1Q at largest US carmakers
  • Ford unveils new 2020 Escape that underpins sales turnaround strategy
  • FAA training for Boeing 737 Max jet inspectors subject of Senate probe
  • Lawmakers advance comprehensive retirement reform: What to know
  • How much you need to be in the top 5% in every state
  • Zion Williamson sneaker deal: Nike, Adidas bidding war could be biggest ever, exec says
  • Alliance of American Football to suspend operations: Reports
  • Kristaps Porzingis sponsors Adidas, BodyArmor laying low amid rape investigation
  • Amazon to slash prices at Whole Foods starting Wednesday
  • Rapper 50 Cent sells massive Connecticut mansion at 84% loss
  • Here’s the catch for US customers opting for Samsung’s Galaxy S10 5G
  • Google employees demand removal of conservative member from AI council
  • Goldman Sachs to hire more people with autism, dyslexia and other disorders
  • First ever West Point Mint-marked quarters released
  • Opinion: Trump’s pick Stephen Moore just what the Fed (and economy) needs
  • Bitcoin surges to its highest level since November
  • ‘American Sniper’ wife says individualism, freedom are alive and well in US
  • Border shutdown? How US consumers could be impacted
  • Texas lawmaker: Illegal immigration at US-Mexico border creating ‘chaos’
  • Border shutdown: Here’s how US economy could be impacted
  • Investing in families now is a down payment in our nation’s future
  • America’s community banks in danger of extinction due to credit union tax loophole

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

9MarketIndicatorsYahooFinance4.2.2019DailyBusinessNeawsManufacturedHousingIndustryStocksMarketsReportsDataMHProNews

Today’s Big Movers

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

Today’s MH Market Spotlight Report –

 

NotJustTradeUSThreatChinaIndustrialDemocraciesDailyBusinessNewsMHProNews

Steve Bannon: China is a threat to the industrial democracy in the West.

As a reminder, Bannon and President Donald J. Trump parted ways some time back.  It wasn’t pretty.

That noted, sometimes it is best to let a video interview just speak for itself.  Bannon’s comments are often quite different than what others may be saying of late.

Former White House Chief Strategist Steve Bannon was recently on CNBC’s “Squawk Box” and explains why he is looking to revive a cold war-era organization to take aim at China.  His comments are drawing attention in Japan, Europe and elsewhere.  It is worth a listen here in the U.S. too, as a balance for the more common ‘happy talk’ that is heard.

This report isn’t meant to reflect either way on the POTUS Trump-Bannon relationship.  Remember, wheat and chaff with all people and all organizations. Some blasts from the past on the Trump-Bannon furry that is now history are linked below.  So too is one report with a video from Gordon Chang, another voice that sounds the alarm about Beijing.

Related Reports:

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“To Hell with Wall Street” said Steve Bannon, Helpful? Plus MH Market Updates

China, Trade, Tariffs, and Chicken – Plus Manufactured Home Equities Updates

 

 

Bloomberg Closing Ticker for MHProNews…

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

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

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

4.4.2019DailyBusinessNewsManufacturedHousingConnectedMarketReportsBloombergMHProNews

 

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

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

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

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

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

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

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

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

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


HUD’s Fair Housing Month – Sexual Harassment Campaign, Training Initiative Announced

April 2nd, 2019 Comments off

HUDsFairHousingMonthSexualHarrasmentCampaignTrianingInitiativeAnnouncedDOJDailyBusinessNewsMHProNews600

No, this is not a ‘how to’ course by the federal government.  Rather, it is how to avoid a serious problem, and as needed, to report alleged violations.

 

Last July, the Daily Business News on MHProNews reported on the Department of Housing and Urban Development (HUD) sexual harassment PSAs, or Public Service Announcements. ICYMI, or want a refresher, click the linked text-image box below.

 

Sexual Harassment in Housing – HUD and DOJ Campaign PSA Launched

 

Fast forward to April 1, 2019.  HUD announced in a release yesterday that “…Sexual Harassment in Housing is Illegal.” The video posted below was from their statement last year, and includes the full PSA which is shown further below.  The featured image at top is from that video, with MHProNews adding the text.

 

 

 

Their release stated the following, with MHProNews adding in the video referred to from ABC’s Nightline.

 

HUDNewsheaderManufacturedHousingIndsutryDailyBusinessNewsMHProNews

 

HUD KICKS OFF FAIR HOUSING MONTH—

LAUNCHES SEXUAL HARASSMENT CAMPAIGN AND TRAINING INITIATIVE
HUD unveils “Call HUD: Because Sexual Harassment in Housing is Illegal” Campaign

 

WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) today launched a special campaign and training initiative to help protect people from harassment by landlords, property managers, and maintenance workers in HUD-assisted housing.

 

“The Call HUD: Because Sexual Harassment in Housing is Illegal” campaign will increase the Department’s efforts to educate the public about what behaviors constitute sexual harassment and what to do and who to contact if they experience it where they live. Additionally, the initiative will offer sexual harassment training to employees of public housing authorities and other housing providers.

April is Fair Housing Month, a time when we celebrate the Fair Housing Act and recommit ourselves to ensuring every American has access to housing that is free from discrimination. The Fair Housing Act makes it unlawful to discriminate in housing transactions based on race, color, national origin, religion, sex, disability, or family status. This year, HUD is especially focused on protecting the right of individuals to feel safe and secure in their homes, free from sexual harassment or unwanted sexual advances.

“Complaints we receive and cases we see tell us that there are some housing providers who unfortunately prey on vulnerable men and women,” said Anna María Farías, HUD’s Assistant Secretary for Fair Housing and Equal Opportunity. “No one should have to tolerate harassment or unwanted sexual advances in order to keep a roof over their head, and HUD will continue to take appropriate action when discrimination of this type occurs.”

HUD’s Office of Fair Housing and Equal Opportunity (FHEO) will introduce the “Call HUD” campaign during the Department’s Fair Housing Month opening program, which will take place at HUD headquarters, 451 7th Street, SW, Washington, DC, from 2 p.m. to 3 p.m., Thursday, April 4, inside the Brooke-Mondale Auditorium. During the program, two survivors of sexual harassment will share their stories about how they called HUD and got help. In addition, the program will highlight ABC Nightline’s recent story: Uncovering Rampant Sexual Harassment in Housing Systems [see below], which features women who share their stories of abuse and the impact the experience had on their lives, as well as how HUD and the U.S. Department of Justice (DOJ) helped them to obtain the justice they deserved, and in one case, a $2.7 million settlement.

 

 

In April 2018, HUD and DOJ launched a nationwide joint initiative that combats sexual harassment in housing by increasing the public’s awareness of the issue and encouraging the reporting of harassment.

This year, throughout the month of April, the “Humans of HUD” photoblog will feature victims of sexual harassment in housing, highlighting the personal testimonies of survivors and those who helped them.

HUD will end the month with a closing ceremony on April 29 that will include a Fireside Chat between HUD and DOJ representatives involved with the initiative. The event will also include the signing of a Memorandum of Understanding between the two agencies, which establishes, among other things, sexual harassment training sessions for housing providers.

Every year, HUD and its fair housing partner organizations pursue enforcement actions, work to enhance the public’s awareness of their housing rights, and emphasize the importance of ending housing discrimination. Last year alone, HUD and its partner agencies received almost 8,000 complaints alleging discrimination based on one or more of the Fair Housing Act’s seven protected classes: race, color, national origin, religion, sex, familial status, and disability.

Persons who believe they have experienced discrimination may file a complaint by contacting HUD’s Office of Fair Housing and Equal Opportunity at (800) 669-9777 (voice) or (800) 927-9275 (TTY).

###

HUD’s mission is to create strong, sustainable, inclusive communities and quality affordable homes for all.

 

 

With thousands of complaints for fair housing violations received a year, a percentage of those are obviously for sexual harassment.  Depending on the kind of violation, it could be civil and/or criminal penalties. Owners, managers, and staffers all need to be aware of the lines, and not cross them, period.

That’s this afternoon’s “News through the lens of manufactured homes, and factory-built housing.” © ## (News, analysis, and commentary.)

 

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

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

 

 

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


Gannett Media Exposés, MH Community Owner Moves Sparks Outrage – IEDs of Manufactured Housing

April 2nd, 2019 Comments off

 

GannettMediaExposeMHCommunityOwnerSparksOutrageIEDsManufacturedHousingHavenparkCapitalPartnersMHProNews

Given the nature of the internet, bad news in one part of the country travels nationally and globally. So, while this specific incident may or may not seem to be in your market(s), or that of some professional that you know, this Gannett Company media series of exposés could well cost you potential customers.

 

Even if you aren’t in the manufactured home (MH) communities’ sector (MHCs), given how interconnected manufactured housing is, this report will – properly understood – reveal real-world impacts on honorable businesses and investors.

This vexing series is obviously causing angst among hundreds of residents that these stories covered.

 

 

In the American Heartland…Where Politicians Are Criss-Crossing Their State

In a series of reports by Gannett owned Iowa City Press Citizen and the Des Moines Register reflects the outrage by residents who are being hit with rent increases reportedly over 50 percent that will impact them this summer.

Residents at Golf View Mobile Home Court in the Iowa City suburb have been notified by Utah-based Havenpark Capital that they will see their rent spike from $284 to $450 on June 1 — a 58 percent increase,” wrote Ian Richardson and Zachary Oren Smith on March 29, 2019.

Havenpark reportedly did more in another community they acquired. “When the new owners of Midwest Country Estates in Waukee taped notice of a 69 percent rent increase on the doors of residents last week, they were doing the same thing at another recently purchased mobile home park in North Liberty.”

George W told the Better Business Bureau (BBB) on 02/07/2019 that, “Havenpark Capital bought eight Value Homes LLC parks in Mid-Michigan. Our rent increase (including new fees) included a 40%+ hike. Every communication from them states, “we are going to do amazing things.” Nothing amazing has or will happen. Our property manager even encourages us to contact our State Representatives and expresses displeasure in the company’s greedy business practices. Meanwhile, a whole lot of people on fixed incomes are hurting to pay their bills. Some are having to sell their homes and move.”

So, when the Gannett-owned newspaper’s journalists reported the quotes cited herein, they underscore a pattern that complaints to the BBB had already established. The bullets below reflect three quotes from an article linked here.

  • Don Lund, who’s lived at Golf View for 21 years, told the Press-Citizen he’s worried about how his current income — $700 per month from disability and about $160 from newspaper writing — will be able to handle the increase.
  • Most people buy a trailer ’cause we can’t afford a house,” said Lund, who was born without hands or feet. “I spent $40,000 on this back in 1997, and it took 20 years to pay it off.”
  • In Waukee, 91-year-old resident Arletta Swain said she’s lived in the mobile home park for nearly 50 years, and this increase will “take me right down to my last dollar.”

Or ponder the impact on residents, prospective buyers – and thus independent businesses – that reading the following bullets pulled from this link here.

  • Alex Kornya, assistant litigation director with Iowa Legal Aid…,which offers free civil legal assistance to the elderly, low-income, veterans and other vulnerable groups, sees a “high proportion” of people coming to its office with mobile home-related issues.
  • Rent will be going up to protect our community,” the letter [from Havenpark Capital] says. “If the rent did not go up, the land where Midwest Country Estates sits today would have been more valuable if it were changed into apartments, or a large retail store, causing all of our residents to be evicted.”

 

HavenparkCapitalLogoHavenparkCapitalPartnersWebsiteDailyBusinessNewsMHProNews

 

Havenpark Capital Partners Website

We presently own and operate 25 communities totaling approximately 5,000 home sites. We continue to source properties meeting our investment parameters and offer qualified investor access to a geographically diversified portfolio of properties through private fund offerings.” So says the Havenpark Capital Partners website.

They also stated that their investment criteria is as follows.

  1. 100+ Home Sites
  2. Located in a Metropolitan Area of 100,000+
  3. 3-5 “Star” Asset Quality

 

What the Better Business Bureau (BBB) Says About Havenpark

BBB File Opened: 5/31/2018
Years in Business: 3
Business Started: 1/5/2016
Business Started Locally: 1/5/2016
Business Incorporated: 1/5/2016 in UT
Type of Entity: Limited Liability Company (LLC)

The BBB currently rates this firm as a D+.

 

HavenparkCapitalPartners4-2-2019DesMoinesRegisterDailyBusinessNewsMHProNews600

 

Another Comment from the BBB, and Statements from MHC Seller Barbara Hames

Horrible company! They come in added $100 to our rent, then added water bills on a well, and sewer charges and even school tax. Anyone looking to move into anything these greedy money grubbers own…DON’T. They didn’t add a clubhouse, child play area nothing of any real benefit. This area has many senior citizens who live here who will probably have to give up their meds to live here.” – Shar K, 12/11/2018, per the BBB.

 

Among the sellers to Havenpark Capital described by the Gannett owned newspapers was Barbara Hames, of Hames Homes.  Here is a video from their website.

 

 

Barbara Hames told the Press Citizen that they were not looking to sell two of their communities.  For half-a-year, Hames said they were getting 2 to 3 calls a week from potential buyers.

 

 

Hames, a prominent and popular figure in the Iowa Manufactured Housing Association (IMHA), explained the decision to sell to Utah-based Havenpark Capital in these terms.

  • We were absolutely not looking to sell….It is a family business here.”
  • The DNR informed us that Sunrise (Village) would need to be upgraded in a year or two and West Branch would eventually need to be upgraded.” DNR is short for the Iowa Department of Natural Resources.
  • The reason the offer [from Havenpark] was tempting was both [manufactured home land-lease communities] in Iowa City and West Branch would cost a lot to bring into full compliance.”
  • Hames described the hike in site fees as “surprising…”
  • Even if they raise the rent, they also invest a lot of money in the parks they purchase,” Hames told the Press Citizen.
  • The prices in eastern Iowa have been artificially low for years,” Hames said, which likely made such hikes inevitable.
  • When supply is bigger than the demand, prices go down,” Hames said, who explained that the lack of other credit sources after the fall of Green Tree Servicing forced them to establish their own lending. “The supply of manufactured home sites has been high because of the lack of financing for people wishing to purchase.”

Knowingly or not, Hames has described a pattern that the Daily Business News on MHProNews has tracked for years. More recently, our analysis reflects that several of these issues arose in the aftermath of events described on MHLivingNews at this link here. As Berkshire Hathaway owned 21st Mortgage and Clayton Homes built their respective strategic moats, thousands of retailers were tipped out of business.  That in turn had a cascade effect that impacted communities like Hames’ and thousands of others too.  After all, it was those retailers that used to sell homes into communities that kept them near capacity, and allowed property owners to maintain their locations.

The well-liked Joanne Stevens was reported as the broker in the deal with Havenpark.  Per her website, “NAI Iowa Realty Commercial is proud to be part of the Berkshire Hathaway family of companies.”

So, on at least two levels, Warren Buffett led Berkshire Hathaway brands are in the mix of what has transpired in these Iowa manufactured home communities.

 

The Intersection of Mainstream Journalism Realities and Manufactured Housing

Contemporary local media journalists have numerous pressures and limitations placed upon them.  As the number of writers and editors declines, due to dwindling ad revenues lost to competitors such as Google or Facebook, a journalist often lacks the time to dig deeper into an issue than may have been the case in years past.

To generate reader interest – which yields more clicks or sold newspapers – media sources tell MHProNews that they have to focus on controversy and attention-sparking headlines and stories.

So finer details, correct terminology, mitigating circumstances, or other nuances may not rank as high as it otherwise might have in years gone by. It’s not fake news. But it is news that by accident, media dynamics – or at times, an unstated agenda – often reflects poorly on manufactured home living.

 

PublishingHandPickedInformationCanBeWorsefortheImpressionItMakesOnManufacturedHomesandOurIndustryThanStatingEntirelyFalseInfo-BradLovinNCMHA

Sometimes media has an agenda, and Brad Lovin’s comment is quite apt. But in other occasions, journalists pressed for time may not be able to dig deeply enough to understand the often subtle or complex dynamics at play. But the impact of news articles is real in either case.

 

For example, these bullets from the same Gannett media source.

  • Resident Janet Hook said…”We’re sitting ducks is what we are…”There’s a lot of us out here who don’t know what we’re going to do.”
  • An NAI Iowa Realty Commercial survey of 13 mobile home parks in the Des Moines metro from October 2018 showed rents ranging from $244 to $596 per month, with an average monthly rent of $436.
  • Joanne Stevens, an NAI Iowa Realty agent who helped with the Midwest Country Estates sale, said owners that want to stay in the mobile home business long-term need market rate rents to keep parks operational and well-maintained.

Nowhere is the Berkshire Hathaway connection to these events explicitly mentioned. Nowhere in these reports will you find a more in-depth explanation for how Berkshire owned brands arguably helped fuel the issues that caused these communities to lose occupancy for years.

As regular and detail-focused MHProNews readers know, the industry’s business model was disrupted in large measure by the events documented here.  There rest are details and commentary.  It is the kind of nuance – or even in-your-face-facts that mainstream journalist who are not well versed in manufactured housing, for the reasons noted above, can easily miss.

TerminologyMattersBecausetheTerminologyDescribestheConstructionStandardsHomeBuiltToSteveDukeLMHAaMHLivingNewsMHProNewsBiggerPocketsSunshineHomesRedBayAL

The terminology matters because
the terminology determines the
construction standards a home was
built to,” Steve Duke, LMHA.

 

It will be recalled that not long after Berkshire bought Clayton Homes, the community side of Clayton’s operations were spun off.  Per sources, “Warren” didn’t want to be seen ‘as raising the rents on grandma.

Yet thanks to the domino effect, it is apparently okay with ‘Warren’ when someone else raised granma’s and others site fees.  It is even better when a firm Buffett-led Berkshire owns gets a slice of the brokerage commissions involved. Then, in an ironic twist, Buffett can go on national television, and lament how some citizens become “roadkill” that should be cared for by a Big Brother government.

Buffett has also reportedly used some of his profits to help fund the protest groups – such as MHAction – as reported by the Golden States Manufactured-Home Owners League or GSMOL – see a report, linked here.

The net results?

Real- but artificially-sparked headwinds arise or are allowed to develop.  Lacking the time to dig beyond the surface, journalists in the contemporary media environment may not be able to properly spotlight the underlying causes or contributing factors to the issues that they report on.

So, hearing from residents or others that ‘mobile homes depreciate like a car goes unchallenged, even though there is evidence by the National Association of Realtors (NAR) 2018 research that manufactured homes can and do appreciate.  Cases like the ones these Gannett media stories reflect may indeed result in depreciation, if someone is forced to move quickly.  But that same loss of equity could occur with conventional housing too, given similar dynamics and a hasty sale.  Stating the facts, but absent all the nuances, can thus cause still more harm to potential sellers of a manufactured home, when they might rightly ask in the wake of such reports, ‘why would I want to be next in line for this kind of situation?’

 

The MH Industry’s Largest Post-Production Association…

Where is the Manufactured Housing Institute (MHI) on this or similar issues?  The Daily Business News on MHProNews asked the Arlington, VA based national association.  They are silent. Why? Could it be because some of their ‘big boy’ members benefit from such patterns?

Meanwhile the independents of the industry at large suffer. Who suffers most? The mom-and-pop ‘family’ operations, that may or may not realize what dynamics they have succumbed to, as this report from Iowa sadly reflects.

 

Metaphorical IEDs in Manufactured Housing

Buffett’s and his minions’ strategic moat tactics don’t require specific foreknowledge of precisely what will occur or to whom.  All they need to know is that when a domino is tipped over, other dominoes in the chain will follow.  See the illustration at the top of this article.

What the Atlantic’s report earlier this decade pointed to impacted not only independently owned manufactured home retailers.  It also logically harmed manufactured home communities, producers, lenders – anyone involved in the manufactured home industry business-supply chain.  ICYMI, or need a refresher, you can click on the hot-linked text-image box below for more details.

 

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

 

What is occurring in Iowa is like a metaphorical improvised explosive device (IED) planted by a terrorist. Only these IEDs have an economic impact on people, whose personal or professional lives are just as disrupted as soldier’s would be when hit by an unexpected land-mine.

The industry’s once multi-decades successful business model has been disrupted. It could be rebuilt. #OpenMarkets, antitrust law and other solutions must be put into play to right the imbalances (see related reports, further below the bylines and notices).

 

ManufacturedHousingSHipmentsBloombergQuintFactoryBuiltRebuidRecoveryDailyBusinessNEwsMHproNEws

Click here to see the referenced document, quotes from Warren Buffett’s annual letter to shareholders that year, and a video with Kevin Clayton.

But until the necessary steps are taken to change the dynamics already in play, consolidators like Havenpark Capital will do what Buffett’s “Conquest Capitalism” arguably allowed it to accomplish.

And none of the Omaha-based Berkshire brands found in the Knoxville metro, or MHI would – or could? – respond to these concerns in the presence of their peers, who met in Tunica last week to discuss just such issues.

Tick-tock, tick-tock. That’s not just a clock, it’s effectively an improvised economic-explosive device that mimics IEDs.  How long before politicos in Iowa or elsewhere decide that they will step in to ‘fix’ the problems?

If so, will their political fixes only hasten the issues that caused Barbara Hames and independents like her to sell in the first place?  See the rent control report, linked here.

That’s the latest #NettlesomeThings from MH “Industry News, Tips, and Views Pros Can Use,” © where “We Provide, You Decide.” © ## (News, analysis, and commentary.)

 

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

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

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

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

 

 

Related Reports:

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

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Independent MH Communities, Retailers – NAMHCO’s Susan Brenton Says What Fueled Break from Manufactured Housing Institute (MHI)

State Level Shipment Data Continues to Flash Warning Signals for New HUD Code Manufactured Housing Sales

 

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

MHARR Urges Congress to Preserve DTS In GSE Reform Legislation DBN

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

 

“The Illusion of Motion Versus Real-World Challenges”

 

 

 

 

 

 

 

 

 

 

 

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


It’s Your Money, Future – Snapshot of Leading 2020 Democratic Contenders for Oval Office

April 1st, 2019 Comments off


2020DemocraticContendersOvalOfficeYourMoneyFutureSnapshotDaliyBusinessNEwsMHProNews

 

We’ve curated tonight’s report from 3 different sources that cover the left-right media divide. It will be laced – of course – with our own Daily Business News on MHProNews manufactured home industry focused analysis.

 

By way of disclosure, our plan for this campaign season is to do something different.  As we track and digest the candidates, we will focus more on three different ‘ones to watch’ for 2020.  Mindful that we are political independents, here’s the working plan for our coverage in the race for 2020.

  • One will be from the GOP, which at this stage seems to be President of the United States (POTUS) Donald J. Trump.
  • Another will be those Democrats – narrowing it down to one – who espouse policy positions that may, at some level, have a benefit for our part of the affordable housing industry.
  • Finally, we will look at independents and minor party candidates. At this point, our eyes are on Howard Schultz, who is carving a unique path for a Democrat floating the possibility of a third-party run for the White House.

Among Democrats, our early look was at Elizabeth Warren, due to one primary issue – her strongly stated antitrust stance. Frankly, some of her policy positions are otherwise harmful for our industry and the nation. Pete Buttigieg looks like he may be getting some fundraising O2 as well, and we will reach out at some point to his campaign if this trajectory continues. Coming from South Bend, Indiana – near the birthplace of manufactured housing – Buttigieg could in theory offer some pluses that other declared Democrats don’t.

 

What follows are pull-quotes from right-of-center Fox Business, that are complimented by videos from left of center Bloomberg and CBS News.  We’ll conclude this early campaign snapshot with some points for industry pros and investors to consider.

The latest polling, per Bloomberg, of top possible and accounted candidates are as follows.

 

BidenSandersBetoTop3DemocraticPOTUSCandidatesBloombergDailyBusinessNewsMHProNews

 

Pete Buttigieg

South Bend, Indiana Mayor Pete Buttigieg said on Monday that his campaign raised more than $7 million in the first quarter of 2019.”  Buttigieg is reportedly an openly homosexual candidate. That’s a non-factor to MHProNews politically, but it may be a major party first that could benefit him with segments of the Democratic base.

 

Francis Beto” O’Rourke

Former congressman and 2020 presidential candidate Beto O’Rourke’s campaign raised a record-breaking amount in the first 24 hours after his candidacy was announced…O’Rourke received $6.1 million in online contributions, according to his campaign…” He reportedly also has cash on hand from his failed 2018 campaign for the U.S. Senate against Republican Ted Cruz.

 

 

Bernie Sanders

Independent Vermont Sen. Bernie Sanders raised more than $5.9 million in the first full day after he launched his campaign. In less than a week after the declaration of his candidacy, his team said he raised $10 million…” Sanders has perhaps the biggest organizational advantage, given his failed run for the Oval office in 2016 as a Democratic contender.

Kamala Harris

California Sen. Kamala Harris, who declared her candidacy earlier this year, raised $1.5 million in the 24 hours following her announcement. That included $1 million in the first 12 hours. The average donation was about $37, among 38,000 donors. Harris will not be accepting donations from PACs. Minnesota Sen. Amy Klobuchar raised more than $1 million within the first 48 hours after she launched her campaign, far less than the totals of some of her colleagues.”

 

Amy Klobuchar

Minnesota Sen. Amy Klobuchar raised more than $1 million within the first 48 hours after she launched her campaign, far less than the totals of some of her colleagues. Klobuchar will also not accept donations from PACs.”

 

Elizabeth Warren

Massachusetts Sen. Elizabeth Warren’s campaign did not publicly disclose how much it raised in the first 24 hours after she declared her candidacy, but according to filings with the Federal Election Commission (FEC), she raised more than $299,000 after announcing that she was forming an exploratory committee. According to Politico, that included more than 8,000 donations on the day that she announced the committee – with an average donation amount of about $37.”

 

The U.S. is Too Far Down the List Among Nation’s With the Highest Percentage of Home Ownership 

Once more, our focus will be what’s best for citizens, current mobile/manufactured home owners, and the nation.  The graphic below is an indictment of both major parties in the last few decades on this issue.  The American Dream includes home ownership, not merely affordable renting.

Top49NationsInWorldInHomeOwnershipRatesGlobalHomeOwnershipRatesMHProNews602

InfographicMobileManufacturedHomeManufacturedHousingIndustryFactsDataResearchMobileManufacturedHomeLivingNews

Manufactured housing is the most proven form of affordable housing. It offers consumer safeguards that far more expensive conventional housing does not offer.

MostMenAppearnNeverConsideredWhatHouseIsNeedlesslyPoorAllTheirLivesHenryDavidThoreauManufacturedHomeLivingNews

For newcomers to the website not familiar with modern manufactured homes, learn more by clicking the image above or the link here.

 

The Industry Rundown at this Time?

Frankly, most of the Democratic field has tended too far left.  Many are pushing unrealistic plans, such as the Green New Deal, or “Medicare for All,” which some GOP types of nick-named, “Medicare for None” – because they believe it will rapidly bankrupt the nation.

Warren and Buttigieg will be interesting to watch, but both will need to do something to break out.  Will they pivot to a more business savvy position?  Time will tell.

Among Democrats, the one who is pushing more centrist concepts is Howard Schultz, as he tests the waters for a possible independent run for the White House.  He is uniquely talking more about the dollars and cents of various policies, more so than anyone on the Democratic side.

In 2016, we formally endorsed Donald J. Trump, and overall his blend of typically Democratic and GOP policies that created what in some ways is a unique blend that could well propel him to reelection in 2020. Again, as a disclosure for new readers, this writer had an article published here on MHProNews spotlighted on the Trump 2016 campaign website.

Team Trump clearly valued our trade media’s support.  No one else in MHVille trade media even came close to trying, much less being nationally recognized.

 

12ReasonsEducatedIranianAmericanWomanSupportsDonaldTrumpPostedMastheadBlogMHProNews954x846

While the Manufactured Housing Institute (MHI) paid for two pro-Clinton speakers in the closing days before the 2016 election, the Kovach family supported Donald J. Trump’s candidacy as the best for the industry, small business, and hundreds of millions of Americans. One of those stories ended up on the president’s campaign website, and hundreds of conservative, centrist, and pro-Trump websites.

 

That said, as noted above, we will plan to narrow our picks down to 3 in 2020 as we being to approach the conventions.

  • The GOP contender we believe has the best policies for the nation and our industry,
  • A Democrat, with the same criteria, who will offer the best MH and national policies,
  • And an independent/minor party candidate with the same criteria.

Once the nominees are known, we’ll make a final recommendation to our readers at that time.  Will it stay POTUS Trump?  Will it be a third party or Democrat this time around?  You’ll know shortly after we decide who looks best – and why – for policy, track record, and other reasons.

Among the issues that we think matter most to the industry? Or to manufactured home owners?  To investors?

  • Business friendly policies that will grow the economy. The rising tide should float the most boats, especially with the second bullet below taken into account.
  • Strong anti-trust policies, noting what the top candidates have or plan to do with respect to the FAANGs, Berkshire Hathaway, and Microsoft (#DeFaangBM, #OpenMarkets). For reasons MHProNews and MHLivingNews has outlined before, we believe that it is better for the economy and the industry if the FaangBM companies are broken up under antitrust laws.
  • Candidates who will enforce good existing laws. Much of what manufactured housing needs are already federal law.  Be it the Duty to Serve (DTS), Enhanced Preemption under the Manufactured Housing Improvement Act of 2000, antitrust, or RICO laws, etc. – they should be enforced.

We’ll track the more likely presidential candidates, and later to a lesser extent, some House and Senate races too.

That’s how we plan to help you protect your money and interests, as we provide “News through the lens of manufactured homes, and factory-built housing,” © where “We Provide, You Decide.” © ## (News, analysis, and commentary.)

 

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

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

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

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


After Strong 1st Quarter, Stocks Surge Higher, Plus Manufactured Home Equities, REITs Updates

April 1st, 2019 Comments off

CNNmone4.1.2019ManufacturedHomeStocksMarketsReportsMHProNewsWe reported Friday that it was the best first quarter in years.  If stocks kept up this pace, before the end of this week, the leading markets would have recaptured – and surpassed – all time highs.  Left-of-center CNBC interviewed 5 analysts which will be our focus this evening on a good day for most manufactured home tracked stocks.

 

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

 

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

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

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

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

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

 

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

Besides original analysis and industry focused commentary, MHProNews curates content across the left right spectrum.

 

Select bullets from CNN Money…

  • IPO mania? Not so fast
  • Lyft’s Wall Street debut doesn’t come close to the insanity of the 1990s — here’s why
  • LIVE UPDATES US markets finish higher; Dow closes up more than 300 points
  • Lyft falls below IPO price on second day of trading
  • Siemens exec: Brexit is turning the UK into a ‘laughing stock’
  • Airbnb invests in India’s biggest hotel company
  • Facebook removes accounts linked to Indian political parties as election looms
  • China’s factories are picking up new orders and hiring workers again
  • Saudi Aramco is the most profitable company in the world
  • Jeff Bezos investigator: Saudi Arabia obtained private information
  • ANALYSIS Fox News apologizes for ‘3 Mexican countries’ headline
  • When $30,000 property taxes hit a little harder
  • A package of Kellogg Co. Keebler brand Simply Made chocolate
  • Kellogg sells Keebler and Famous Amos to get out of cookies
  • ANALYSIS Why hitting the Fed’s ‘panic button’ would be a bad idea for the economy
  • Burger King is testing out an Impossible Whopper. This is why
  • Wells Fargo’s CEO is out. Here’s how the bank can end its crisis
  • Tim Sloan’s pay rose to $18.4 million last year
  • The bank has splurged on stock buybacks since fake-accounts scandal
  • ‘I begged them for help’: Wells Fargo foreclosure nightmare
  • Gwyneth Paltrow speaks onstage at the In goop Health Summit at 3Labs on June 9, 2018 in Culver City, California.
  • Gwyneth Paltrow on feeling like an impostor CEO
  • SoulCycle CEO: We aren’t a fad
  • Dollar Shave Club wants to be more than just a razor
  • We asked CNN Business readers what makes a great boss. Here’s what you said

Select Bullets from Fox Business

  • These industries could be impacted by a border shutdown
  • Dow pops 329 points on China manufacturing data
  • Opinion: Investing in families now is a down payment in our nation’s future
  • Tesla price hike imminent: What to know
  • Here’s how much 2020 Democratic candidates have raised
  • Piscopo: ‘SNL’ handing Trump 2020 election
  • 10 high-paying jobs that let you travel the world
  • These are the pros and cons of the 11 best retirement plans
  • Attention homeowners: This is the best week to sell your house
  • Planet Hollywood, Buca di Beppo data breach exposed credit card info on 2M diners: Report
  • Last Blockbuster store on Earth located in US, as Australian location closes
  • Potential fire risks in vehicles cause US regulators to probe Hyundai, Kia
  • What happens if ObamaCare is ruled unconstitutional?
  • Boeing Max jet stall-prevention system active in Ethiopian Airlines crash, report
  • Drug-pricing crackdown leads big pharma to try to fix its reputation
  • America’s community banks in danger of extinction due to credit union tax loophole
  • The new retirement: Watchin’ the sun bake on my front porch swing
  • Varney: If Democrats demand endless probes, they should be held accountable

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

9MarketIndicatorsYahooFinance4.1.2019DailyBusinessNeawsManufacturedHousingIndustryStocksMarketsReportsDataMHProNews

 

Today’s Big Movers

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

Today’s MH Market Spotlight Report –

AfterStrong1QtrStocksSurgeHigherPlusManufacturedHomeEquitieREITsUpdatesDailyBusienssNewsMHProNews

Stocks jumped on Monday as strong manufacturing data out of the U.S. and China eased worries of a possible global economic slowdown,” said CNBC.

  • The Dow Jones Industrial Average rose 329.74 points to 26,258.42…Monday’s session also marked the Dow’s first close above 26,000 since Feb. 26.
  • The S&P 500 climbed 1.2 percent to 2,867.19 as the financials sector outperformed.
  • The Nasdaq Composite closed 1.3 percent higher at 7,828.91 on gains from Facebook, Amazon, Netflix and Alphabet.

The momentum is still positive and we’re constantly drifting higher,” said Michael Katz, partner at Seven Points Capital. “Barring any bad news, that’s going to be the case until we do get some sort of bigger piece of macro news.”

While the economy may not have quite the steam it did in 2018, following the tax cuts, there are still plenty of positive indicators that the market is performing significantly better during this administration than the prior one, when much of the markets were arguably being propped up by Fed policies, QEs, and other artificial stimulus, like the cash for clunkers, etc.

See Related Reports for More Macro and MH Industry Indicators.

Related Reports:

Best First Quarter for Markets in Years, Plus Manufactured Home Stock Updates

State Level Shipment Data Continues to Flash Warning Signals for New HUD Code Manufactured Housing Sales

Independent MH Communities, Retailers – NAMHCO’s Susan Brenton Says What Fueled Break from Manufactured Housing Institute (MHI)

Trump Administration Move on Housing Financing Draws Sharp Manufactured Home Association Response

Debunking the Trailer Trash Stigma for Affordable, Modern Manufactured Housing for Residents, Home Shoppers

 

 

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).

4.1.2019DailyBusinessNewsManufacturedHousingConnectedMarketReportsBloombergMHProNews

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

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

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

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

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

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State Level Shipment Data Continues to Flash Warning Signals for New HUD Code Manufactured Housing Sales

April 1st, 2019 Comments off

 

StateLevelShipmentDataContinuesFlashWarningSignalsNewHUDCodeManufacturedHousignSalesDailyBusinessNewsMHProNews

 

This isn’t an April Fool’s joke.

 

If it is funny in any sense to anyone, it’s only so for those in the industry who may see a perverted value to themselves in the troubling declines in new home shipments and sales in numbers of states across the country.

This data further below is from the Midwest Manufactured Housing States (MMHF).  The MMHF are the parent body for the Louisville Manufactured Housing Show. Recall that the Daily Business News on MHProNews exclusive fact-checks once more revealed arguably false – or at best – misleading claims in recent ‘reporting’ by MHInsider about January’s 2019 Louisville Show.

 

Fact Check, Darren Krolewski, MHInsider Claim on 2019 Louisville Show Attendance

 

Even though the number of displayed models, and other exhibitors declined, MHInsider had the audacity to claim that the number of attendees was a 60-year record.  That misstatement was debunked at the report linked above.

 

New HUD Code Manufactured Home Shipment Data

Not long after the first of every month, the new HUD Code manufactured home shipment data is compiled and released by IBTS for HUD.  The Manufactured Housing Association for Regulatory Reform (MHARR) and the Manufactured Housing Institute (MHI) each do monthly summaries based upon that IBTS data.

While MHARR has been sounding the alarm for months, MHI’s missives largely ignore or downplay the troubling trends.  Given that MHI claims to be representing ‘all segments of factory built housing,’ how is it that they show so little published concern over the matter?  Doesn’t that in itself play into the controversy that the Arlington, VA based MHI are okay with historically low production, so that consolidators can continue to acquire other firms or locations at discounted prices from their intrinsic value?

Check out the latest data from the MMHF, per OMHA and MHI.

 

2019-04-01_1358December2019ManufacturedHousingIndustryShipmentsDailyBusinessNewsMHProNews600

 

Per the data above, those 5 MMHF states collectively have witnessed an overall decline in new HUD Code sales.

Year – Total Shipments – MMHF States

2017 – 12,548.

2018 – 12,210.

 

As the graphic below reminds readers, these are not the only states that have marked declines.

 

MHARRJan2019HUDCodeManufacturedHomeProductionShipmentReportDailyBusinessNewsMHProNews

 

While MHARR has raised this issue in recent months, MHProNews has periodically published reports for some years that have aimed at raising awareness on this apparently growing problem. ICYMI, one of several such reports is shown below, that one, from 2017.  Curious minds must ask, how is this even possible during a blossoming affordable housing crisis?

 

While Manufactured Housing Overall Rises, Some Slip Sliding Away

 

Other than MHARR, MHProNews, or MHLivingNews, no one else to date has bothered to seriously look under the hood to see what the causes of this issue might be.  George F. (F?) Allen, for example, has mentioned it.  But when Allen asked industry leaders for explanations, he took at face value the explanations of Kevin Clayton (Clayton Homes) and Joe Stegmayer (Cavco Industries).  No follow up questions by Allen were made in a truly journalistic fashion to help explain the obviously contradictory claims made by the leaders of two of the three top producers of manufactured housing.

A competitor in trade media told me in Tunica last week – with others present – that they don’t publish news, they publish what he himself called ‘fluff,’ said MHProNews publisher, L. A. ‘Tony’ Kovach.  “Hey, we’ve done cheer leading at times too, but never based on mere nonsense or wishful thinking. It isn’t fun to publish unpleasant facts, but if the industry is to solve its internal challenges, it must begin with solid facts. Thus the value of fact-checks. Head in the sand, or see – hear – and speak no evil, doesn’t cut it for true professionals and smart investors.”

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The new IBTS data should be out this week.  Check back to get those facts, from your most-trusted source for independent manufactured home industry trade news, analysis, and commentary.  It is all right here on MHProNews.We Provide, You Decide.” © ## (News, analysis, and commentary.)

 

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

 

 

Related Reports:

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

 

Independent MH Communities, Retailers – NAMHCO’s Susan Brenton Says What Fueled Break from Manufactured Housing Institute (MHI)

Errata, Apologies, Explanations, Tunica Talk, and Manufactured Housing

 

MH IDEAL, Understanding Manufactured Housing’s Choke Points, Tunica Show Day 3

Sun Tzu – Ultimate Manufactured Home Freedom Alliance

Debunking the Trailer Trash Stigma for Affordable, Modern Manufactured Housing for Residents, Home Shoppers

 

Drilling Down on State Manufactured Housing Shipment Data, Shocking Revelations, Warning Signs

 

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

“The Illusion of Motion Versus Real-World Challenges”

 

 

 

 

 

 

 

 

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