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Professional, Investor Alert “Brace Yourself, This is How Much America’s 1 Percent Has Saved”

August 27th, 2018 Comments off


ProInvestorAlertTheBillionairesBraceYourselfHowMuchAmericasTop1PercentHasSavedDailyBusinessNewsMHproNews

Are you a business owner, executive or manager?  Do you have assets that make you a millionaire?

Or do you aspire to be in the 1 percent?

Then this alert is for you.

The potentially costly politics of class envy are on full display in the headline of an article on MarketWatch, which will be reviewed herein.  Notice for the minority of those who’ve been misled into believing that MHProNews hates billionaires, au contraire. We applaud success, and always have, so long as the wealth is achieved legally, ethically and sustainably. 

The system as it has functioned for much of the recent decades is frankly not sustainable.  Teddy Roosevelt busted the trusts – i.e. monopolies – in his era.  Are we ready to see “trust busting” again?

 

What’s the Best Way to Lift Americans out of Poverty?

Properly understood, free enterprise – as opposed to monopolistic capitalism – is the single best way to lift people from poverty.

More to the manufactured housing point, those who have legitimate access to an affordable home arguably have the best opportunity for wealth creation. That case was launched a couple of months ago on Value Penguin, at the link here.  An even  more robust look is found at the link below.

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

 

Where Left and Right Can Meet

But there are those, most usually on the economic and political left, that make all capitalism and wealth sound evil.  That doesn’t mean that left and right can’t find common ground.

The surprising reality is that left-to-right, a common sense path exists for creating wealth through a proper understanding of basic economics, and a proper application of lending, land and access to manufactured homes.

It must be recalled that many of the wealthiest are at least publicly the most ‘liberal’ or left-leaning “progressives,” who often support Democratic candidates. If they are sincere believers in what they proclaim or not is another question. Millions of Democratic and some independent voters have been led to believe that some of the world’s richest living here in the U.S. favor higher taxes.  Hmmm, those billionaires posture for the left as if they want to tax themselves the more? Really?

Does anyone recall just a few weeks ago the pressure that Amazon’s Jeff Bezos put on the City of Seattle to rescind a head tax on employees?

We are not at all defending plan in Seattle, which was supposed to fund a program aimed at alleviating homelessness.  The point is that Billionaire Bezos’ company blocked it. Other examples could be given for Warren Buffett or other billionaires in the faces shown above, which reflects that they may say one thing, but in fact routinely do another.

That’s not to slam to all billionaires.  It is only to say that for some their behavior doesn’t always match up with what they claim.

 

Who are the Top 1 Percent? Are You in MHVille Among the Top 1 Percent?

In 2015, using 2010 data, Quora said that the “number of US households was 117 million so there were 1,170,000” households that are in the top 1 percent.  $430,600.00 is what that translates to in dollars, per the summary below.

TopIncomeEarnersDailyBusinessNewsMHproNews

So, there are thousands in manufactured housing that qualify for a fact-based definition of the top 1 percent.

When you watch protestors denouncing the top 1 percent, that’s a figure that over a million American households has achieved, and arguably what thousands more could achieve in the manufactured housing profession.

Now, with that backdrop, let’s look at what Quentin Fottrell wrote for MarketWatch, that MSN (Bing, i.e. Microsoft) wants you to spend time reading.

SmokingCigarTop1PercentMarketWatch

The median American household currently holds just $11,700 in savings, according to a new analysis of Federal Reserve and Federal Deposit Insurance Corp. data by personal-finance site Magnify Money. Median balances (the midpoint value) are lower than the average savings rates. The top 1% of households in the U.S. by income have a median savings of $1.1 million across a variety of saving accounts. The bottom 20% by income have no savings accounts and the second lowest 20% income earners have just $26,450 saved,” wrote Fottrell

AverageMedianSavingsofTop1Percent%MarketWatchDailyBusinessNewsMHproNewsThe average savings in retirement, money market deposit, checking and savings and certificate of deposit accounts are skewed by higher earners with more money. The top 1% of households have an average of $2.5 million in accounts, while the bottom 20% of households have an average of $8,870 saved. To put that in context: The average household has $277,670 in retirement accounts and $4,830 in savings accounts, while the median household only has $72,840 in retirement accounts and $32,130 in savings accounts,” said Fottrell.

AverageMedianSavingsLevelsByIncomeDailyBusinessNewsMHProNews

Stagnant wages, student debt, soaring house prices and rising credit-card debt have not helped people save,” per that same MarketWatch column. “Lots of families are living paycheck to paycheck and struggling to save even a little,” said Caroline Ratcliffe, a senior fellow at the Urban Institute, a nonprofit policy group based in Washington, D.C. “Limited savings isn’t only an issue for low-income families. Quite a few middle- and high-income families have no savings cushion to fall back on. One in 5 middle-income families and 1 in 10 high-income families have no retirement savings.”

MedianHouseholdAccountSizeDailyBusinessNewsMHproNews

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Now first, the data here is somewhat contradicted by other data, include the chart we posted above.

You may recall HUD Secretary Ben Carson’s often-repeated statement in 2017 that the average homeowner household had a net worth of some $200,000, while the average renter household only had $5,000 in net worth.

But set the anomalies in the respective data aside.

The question should be — what policies would honestly bring more wealth to more people?

What recent Daily Business News reports revealed is that 50 years of the “War On Poverty” launched by Democratic President Lyndon Baines Johnson (LBJ) has cost the nation some $22 trillion dollars, per Heritage.  That’s roughly equal to all of the national debt.

UCDavisUnitedStatesPovertyRateSince1959to2015DailyBusinessNewsMHProNews_001

Yet, poverty rates – while vacillating – have barely moved from when those programs and others since have been launched. Why does the nation pour billions every year into programs that are proven not to work?

The evidence reveals this. The way to wealth creation for the majority is a combination of regulatory and tax and policy changes that allow more Americans to sustainably buy their own home.

The value of that home should be protected against estate (i.e. death) taxes.  That would boost wealth for the working women and men of America.

Let the workers and middle class buy an affordable home, which existing laws related to manufactured homes – if applied – would make reasonably easy.

Two Great Laws Already on the Books NOW,  Can Unlock Billion$ Annually for Manufactured Housing Industry Businesse$, Investor$

That can be done in a demonstrably sustainable fashion.

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 Click here or above to see the report.

What left, right and independents ought to be able to agree upon is this. Giving more citizens a path to home ownership, which existing laws could easily be done with manufactured homes, is a sure path for raising the standard of living for tens of millions in the USA.

That’s the ticket that Warren Buffett ought to be promoting, instead of his moat. So why isn’t he doing so?

Regardless of what Mr. Buffett does or doesn’t do, tens of thousands of industry professionals – regardless of political affiliation or the lack thereof – should support:

  • the robust application of enhanced preemption,
  • a reform of the 10/10 rule on FHA Title 1 lending,
  • and should push the GSEs into a true support for manufactured housing, instead of the fig leaf programs they have put in place.

The closing note is this.  The answer in November isn’t to vote for those who support redistribution of the wealth. That’s a proven and failed approach that ballooned the debt.

A combination of trust-busting of:

  • Berkshire-Hathaway,
  • Apple,
  • Microsoft,
  • Alphabet (Google/YouTube, etc.)
  • Amazon, and
  • Facebook

plus a robust application of enhanced preemption and existing lending laws could raise millions of Americans from poverty to prosperity.  That’s how existing laws and free enterprise could be used in an ethical and sustainable manner.

Professionals, owners, and investors, it pays to help your fellow Americans understand the truth about socialism and America’s historic style of free enterprise. To be clear, crony capitalism and free enterprise are not the same thing.

Trust-busting and a level economic playing field are as American as apple pie, and the dream of home ownership.  That’s “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:

Rising Prices and Rates Cool Housing Sales, MH Industry Pro Sounds Off, New Data & Video

 

How to Avoid Losing Billions, Huge Loses Reported by WSJ, Other Media

FEDs, MHI, Buffett’s Berkshire’s Clayton Homes Moat, Affordable Housing, and Billion$ in Manufactured Home Market Manipulation

Affordable Housing Focus Group – Manufactured Home = Page, 1, #2 Google Result

March 16th, 2018 Comments off
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Click here or above to see the Affordable Housing Focus Group article and short video.

The Affordable Housing Focus Group article posted just days ago on Manufactured Home Living News (MHLivingNews.com) yielded impressive search results on Google.

 

The result was page 1, number 2 out of about 1.66 million possible search outcomes.  That’s a positive note for the industry, in an educational/image building way.

 

The focus group was conducted with residents who volunteered from Key Allegro Villas, Fairhope, AL at a nearby restaurant, and the project was sponsored by Sunshine Homes of Red Bay, AL, whose homes will be featured at next week’s Tunica Show.

The Key Allegro property is just minutes from the in-demand Gulf Coast beach resorts, such as Gulf Shores, or nearby Pensacola, FL.

The search results under the popular Google Image search category also yielded some surprisingly high results.  The same key words were used, “Affordable Housing Focus Group.”

Note that because of the methodologies used by Google’s algorithms, search results can vary significantly:

  • by location,
  • time,
  • date and
  • even by device.

These results were all performed on a laptop computer.

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When the words, ‘manufactured homes’ was added to the search result, 10 of the top 15 results were on MHLivingNews, with 3 more found on the NJMHA.org website.

Because the search result points to a story and part one of a focus group video that shines a positive light on the manufactured home industry and manufactured home living, its good news for the industry.  And of course, its good news for those specific operations spotlighted.

Another episode from this focus group video is planned for April.  ## (News, analysis, and commentary.)

Related:

First Things First in Manufactured Housing

Affordable Housing Focus Group, Comparing Housing Options, Rent, Conventional, Condos, Manufactured Homes

(Third party images, and cites are provided under fair use guidelines.)  Notice: for professional business development services, click here.

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

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Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

 

Preserving Access to Manufactured Housing Act – Momentum or DOA?

April 20th, 2017 Comments off
PreservingAccesstoManufacturedHousingActDoes1MeanDOA-creditMHIGovTrackDawgsByNature-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credits: MHI logo, top left, Dawgs By Natures and GovTrack, all provided under fair use guidelines.

Much of the manufactured housing industry is familiar with latest version of the Preserving Access to Manufactured Housing Act of 2017 – a.k.a. H.R. 1699.  The Arlington, VA based Manufactured Housing Institute’s (MHI) latest “alert” urged their readers to keep up the momentum for the 4th iteration of a bill, which they designed to modify points and fees to make some higher cost loans possible, while also amending the unpopular MLO rule.

GovTrack reveals some startling insights, but the view from MHI will be reviewed first.

The MHI bill was presented by Representative Garland “Andy” Barr (R- KY). Barr is a true advocate for manufactured housing, as the information and video linked here reveals.

As have many others, MHProNews and MHLivingNews editorially supported prior versions of the bill for years. One of dozens of examples, is linked here.

Beyond the MHI cheerleading, what are the facts – per third parties – outside of manufactured housing?

PreservingAccesstoManufacturedHousingActDoes1MeanDOA-creditMHI-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: MHI’s latest emailed update, provided under fair use guidelines.

GovTrack and PredictGov, who have no vested interest in whether or not a bill passes, have provided some startling information.

PreservingAccesstoManufacturedHousingActDoes1MeanDOA-creditGovTrack-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: GovTrack.

They give the bill a one percent chance of passing.

With 99 to 1 odds against it, and millions spent to date on the MHI effort, this information should provide a wake-up call for the manufactured housing industry.

As PredictGov states, “The overall text of the bill decreases its chances of being enacted. The bill’s primary sponsor is from the state/territory: KY. The bill is assigned to the House Financial Services committee. The bill’s primary subject is Housing and community development.”

Credit: PredictGov.

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Tim Williams, credit, LinkedIn.

MHProNews has heard from a number of pro-MHI members, who believe the bill is a wasted effort in the Trump Administration era.

Conflict of Interest?

As the Daily Business News asked here, under the bylaws, articles and laws of incorporation for MHI, is there a conflict of interest when The Preserving Access to Manufactured Housing Act – a finance related effort that directly benefits two major industry lenders – is being promoted by the association’s chairman, Tim Williams of 21st Mortgage Corporation, whose firm is a direct beneficiary if such a law is passed?

 

Cheerleading For…What Goal?

In its News & Updates feature, MHI asks members to “Keep Up the Momentum: Ask your Representatives to Cosponsor H.R. 1699.” But with a one percent chance of passage, state association executives and other businesses of various sizes have asked privately, does even hundreds of emails and several co-sponsors truly equal momentum?

Introduced by a bipartisan group of Representatives, ‘The Preserving Access to Manufactured Housing Act’ addresses federal regulations implementing the Dodd-Frank Act that do not reflect the unique nature of the manufactured home financing and sales process,” says MHI.

H.R. 1699 modifies the definition of ‘high-cost’ loans so that manufactured home loans are not unfairly swept under this designation simply due to their small size. The bipartisan legislation also amends the SAFE Act and the Truth in Lending Act to exclude manufactured housing retailers and sellers from the definition of a loan originator, so long as they are only receiving compensation for the sale of the home and not engaged in financing the loans.”

When asked for an on-the-record comment, MHI would not respond to MHProNews’ inquiries about this – and other finance/industry related subjects, which will be covered in upcoming reports here on the Daily Business News.

Opportunity in 2016, Reportedly Lost

In an interesting twist, MHProNews previously reported that MHI insiders communicated to the Daily Business News that a negotiated deal with the support of consumer groups could have been made over a year ago which would have allowed the CFPB to modify their MLO rule, so long as MHI dropped the points and fees hikes.  That deal would have benefited thousands of industry locations and businesses of all sizes.

Why was that opportunity missed?

MHI staff are silent on that question, and others like it.

Presidential Veto…

With millions being spent by MHI every year, and this being one of their flagship efforts, why did MHI fail to take the half-loaf offered?  Even if Senate passage last year had been achieved, President Obama signaled during his term that had Preserving Access passed the Senate, he would have vetoed the legislation.

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All image credits are as shown, and images or third party documents that may be attached are provided under fair use guidelines. 

Among the off-the-record comments from a member of the financial services industry seem to show an under-reported trend among those who know the real score on the bill.

The problems with MHI aren’t the Association’s doing, it’s a few members.  Lenders like CU aren’t bothered by all the aspects because they think consumer first and still make a decent return,” one source said. “As always “off the record” because I don’t need to get dragged into HR, but that is my 2 cents.

While a lender was named in the message to MHProNews above, it should not be construed that the source does – or does not – work for that firm. Those comments came with respect to this article.

MHI – Weaponized News?

WeaponizedFakedNewsCostsMHIndustryBillionsManufacturedHousingIndustryDailyBusinessNewsGraphicStockMHProNews

As MHProNews covered here, MHI’s use of weaponized news to its members, and slanted advertorials to the public, presents several hurdles for the industry.

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Titus Dare. Credit: MHProNews.

James McGee and Chet Murphree said it very well on a video, it’s all about education…This [MHI] advertorial approach was a mix of good, bad, inaccurate, and deceptive marketing on behalf of a national manufactured housing association,” said Titus Dare, SVP of Eagle One Financial.

I’ve focused on the bad, because that is where the problems will come from. You would never see the NAHB or another national trade association blurt out such problematic nonsense.”

Tom Fath, an industry professional with a fresh view from a millennial perspective also shared his take.

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Tom Fath, New Durham Estates.

We have created a great industry that is in decay and under attack.  In order to change the perception of our industry, MH pros and leaders need to focus on the facts and true benefits regarding our products and communities to ensure our customers make educated decisions that fit their needs,” said Fath.

Probably the greatest enemy to the growth of the mobile home park [sic] industry into a mainstream form of real estate investment is … our industry itself,” wrote MHI member Frank Rolfe, in a story linked here.

CreditsBattleshipMissouriWikiCommons-MHILogoMHI-FrankRolfeMHU-CollageCreditMHProNews

Third party images on MHProNews are routinely provided under fair use guidelines, as is the case with the images in the collage above.

For more on what the manufactured housing industry is up against in its internal battles to achieve its potential, click here. ##

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

rcwilliams-writer75x75manufacturedhousingindustrymhpronewsSubmitted by RC Williams to the Daily Business News for MHProNews.

Duck Dynasty’s Willie & Robertsons present Christmas gift – new Manufactured Home

December 23rd, 2014 Comments off

willie-robertson-ceo-duck-commander-duck-dynasty-credit=pinterest-posted-daily-business-news-mhpronews-comOne lucky Louisiana resident was presented with a new manufactured home on the Duck Dynasty Christmas special. During the episode, “A Home for the Holidays,” the Duck Dynasty Robertson family teamed up with Jeff Foote of Homes Plus in West Monroe, Louisiana, and Clayton Homes to deliver a 1,620-square-foot manufactured home to Thersser Lewis, whose son Paul Lewis is the Duck Commander warehouse manager.

The home for the Christmas holidays is a Southern Energy Charlton model. The home features three bedrooms, three baths, a custom kitchen and with other amenities.

According to a story in the New Star, the crew was able to surprise Lewis after sending her to southern Louisiana to visit her sister while Foote delivered and set up the home. “The look on her face was priceless,” Willie Robertson said. “She had no idea she was getting a new home for Christmas.”

Willie, who is the CEO of the family business, Duck Commander, shed light on the 40-year friendship between his family and the African-Thersser-Lewis-gifted-Clayton-Home=for=Christmas-Duck-Dynasty-Willie-Robertson-Family-American Lewis family that attends their church.

In an interview with The Christian Post,  he explained that he and Paul Lewis were best friends growing up. It turns out that Paul’s mother is aging, the family has experienced some hard times financially, and their home was in disrepair. “I thought we could be the secret Santa and get a special gift for a special person,” Robertson explained.

After working together to install the manufactured home, which came with a deck and Christmas décor, the entire Robertson family gathered to present it to the Lewis family. “I must have died and went to heaven,” Mrs. Lewis said through tears.

All participants agreed that the blessing was in participating in making the dream of a new home become a Christmas reality for Mrs. Lewis. “It was a privilege to partner with the Roberstons, Clayton Homes, and A&E to make this happen for her,” Foote said. ##

(Willie Robertson Photo Credit: Pinterest, Thersser Lewis photo credit: Clayton Homes)

sandra-lane-daily-business-news-mhpronews-com-75x75-Article submitted by Sandra Lane to – Daily Business News – MHProNews. 

RV Community Deals with Issue of Permanent Residency

October 19th, 2011 Comments off

gazettextra reports the covenants and zoning agreements established when an RV community was developed in the 1970’s have not been enforced. The original rules for Rock River Leisure Estates RV park in Edgerton, Wisconsin, state it is a vacation resort and does not allow permanent year-round living beyond nine months, although the tacit agreement has been for residents to leave for a couple of weeks each year. A new rule passed by the park’s homeowner’s association is attempting to comply with the original zoning requirements, much to the chagrin of a number of residents who in some cases have added central air, rooms, wrap-around decks, and fireplaces to their RVs, and cannot afford another residence, or to leave for three months. One resident says the township and the park approved his alterations. In 2009 town attorney Mark Schroeder sent notices to the park stating that people living there permanently on RV sites were breaking the law and could face fines of $1,000 a day. Last year the park’s association sued one couple for being permanent residents. While the judge ruled in the park’s favor, the ruling gave the couple no deadline for compliance. On Oct. 3 a group of 32 residents filed suit to block the homeowner’s association from enforcing the residency standard. Several homeowners at the park have asked the city to amend its zoning to allow permanent residency, but the city says it has no authority over the covenants of Rock River Leisure Estates.

(Photo credit: Rock River leisure Estates)

Eastern Manufactured and Modular Retailer boasts good sales numbers

October 3rd, 2011 Comments off

Randy Merritt, Jr Atlantis Homes LLC credit LinkedInDelmarVaNow reports that decade old Atlantis Homes, LLC in is successfully bucking trends in manufactured and modular home sales.  “Even in the economic situation we have, we sell on average 200 homes a year,” Randy Merritt, Jr. said. “That’s a lot of homes.” Atlantis is a retailer for Clayton, Norris, Skyline, Eagle River and Fleetwood manufactured and/or modular home builders.  The retailer has model home centers in Delmar, Dover, Millsboro and Pocomoke City, giving the company visibility in the Eastern Shore of Maryland, Virginia, Delaware, along with parts of Pennsylvania and New Jersey.  The company dates back nearly a half century, when Merritt’s grandfather launched a Symrna-based modular home business, Larry’s Homes. Merritt’s parents, Randy and Pamela Merritt Sr., teamed with his uncle, Brian McKinley, to buy Larry’s Homes.  Merritt says site building in his areas runs about $80 and $120 per square foot, compared to manufactured or modular homes that cost between $50 and $80 per square foot.  Atlantis received Clayton’s Five Star Customer Service award for being “a truly world class performer.” according to Lance Hull, vice president at Clayton Manufacturing. “We partner with over 1,100 independent retailers in marketing our products across the country, and Atlantis Homes is one of the best in consistently delivering the finest customer service,” Hull said. “It is a testament to their commitment of not just meeting, but exceeding customer expectations.”  Since opening just before 9-11 2001, the modular and manufactured home retailer states they’ve sold some 2000 homes, averaging some 200 sales a year, even during this long, difficult housing downturn.

(Photo credit of Randy Merritt, Jr: LinkedIn)

New manufactured home retailers have rebate program marketing opportunity

August 4th, 2011 Comments off

NC_graphic_courtesy_of_Wikimedia_commons posted MHMSM.com MHProNews.comFayettvilleObserver reports the North Carolina State Energy Office announced Wednesday a $1,500 rebate to home buyers who purchase energy-efficient manufactured homes through the end of 2011. An earlier rebate plan was for $500. “We’re making it even more attractive for consumers to buy energy-efficient manufactured homes,” said Nicole Dyess, residential program manager for the Energy Office. “But the rebate is only the beginning of the savings.” Dryess said, “In addition to the cash back, homeowners in North Carolina will save an average of $74 a month, or just shy of $1,000 a year, on utility bills compared to homes of the same size that are not Energy Star-qualified. The N.C. Plus Program for Energy Star manufactured homes provides an incentive for homeowners to purchase a home that may have a slightly higher monthly mortgage, but more than makes up for it each month on their utility bill.” North Carolina Plus program for Energy Star homes is rooted in the 2009 Federal Recovery Act. “It allows us to do about 800 rebates,” Dyess said.

(map graphic credit: Wikimedia Commons)