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“Rent is Too Damn High,” But Why? MHVille Struggles & Solutions

November 11th, 2018 Comments off

 

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From New York to California, there have been protesters who’ve carried signs saying the “rent is too damn high.”

 

It’s vexing. Because this ought to be yet another signal for manufactured housing professionals and investors to better understand the dynamics that could spark the industry’s authentic return as a major producer of housing in America.

But instead, as other reports from this past week reveal, manufactured housing nationwide stalled in new home shipments. Some states rose, others fell, and the net outcome nationwide is a slip. All of those reports are linked below.

Molly Ball has a featured report on left-of-center Time Magazine that reveals her view that it’s about to get worse in America. Time has been strongly anti-Trump at least since 2016, but they admit the 45th President of the United States (POTUS) bucked the tide of decades of midterm history. That’s significant to industry pros for reasons Saturday’s Daily Business News report reflects.

Seasoned and savvy manufactured housing professionals don’t have to be told that we have a great option for affordable housing. Arguably, it’s the most bang for the money. It’s a solution to the rent that is ‘too damn high.’

So why isn’t the industry performing better?  The answers are being revealed, one story at a time, and in reports like this week’s Masthead. 

But there’s more.

There’s big news about Legacy Housing, and a stunning shakeup at Cavco. A big move by Sun Communities too. Those and other reports below.

Check out the in depth Saturday report and analysis on the milieu in which affordable housing’s struggles are embroiled in, along with over 2 dozen more other articles and reports from the week that was.

We provide actionable insights, fact-checks, reports, and analysis that are found no where else in the manufactured housing industry’s trade media. It’s an avoidably modest industry today, a fraction of what it was in 2018. That sad, because it is avoidable. But it is also an opportunity in disguise, for those willing to dig in, understand and then take specific action steps. The right steps would arguably make individual locations more profitable than they’ve been in years, decades, or perhaps the best ever.

You’ve made us the runaway number one trade media in manufactured housing. The industry, per the Manufactured Housing Institute (MHI) has 40,000 full time equivalents (FTEs) We think their figure may be low, but regardless it is a sobering number to reflect upon. With that backdrop, our thanks to all of our readers, clients, and sponsors for making this the place where well over ten thousand pros and industry researchers will come on an average day to read “Industry News, Tips, and Views Pros Can Use.” ©  As millions head to or from Sunday worship, as we look ahead to Veterans Day tomorrow, there is much to ponder, pray, and then perform. 

With no further adieu, let’s dive into the headline week in review, on this Sunday Morning. 11.4 to 11.11.2018.

 

What’s New on the Masthead

 TheMastheadCommentaryLATonyKovachMHProNews

Prosperity Now, Protests, Indivisible Project, Warren Buffett, George Soros, POTUS Donald Trump, MHAction and Manufactured Housing – Following the Money

 

What’s New from MHARR

“A HUD MONITORING CONTRACT ‘BRIDGE TO NOWHERE’”

 

Financial Services Chairman Calls for End of GSEs

 

September 2018 Manufactured Home Production Data Shows Slight Flatline

 

What’s New on the Daily Business News on MHProNews

 1DailyBusinessNewsLogoMHProNewsLogo-1

 

Saturday 11.10.2018


Affordable Housing, the Visible, Yet Mysterious Struggle for an Obvious Solution, Case Examples

Affordable Housing, the Visible, Yet Mysterious Struggle for an Obvious Solution, Case Examples

 

Friday 11.9.2018

Legacy Housing Files for IPO, Plus Manufactured Housing Industry Market Updates

Legacy Housing Files for IPO, Plus Manufactured Housing Industry Market Updates

Manufactured Home Owner, and Billionaire Third Point Hedge Fund’s Daniel S. Loeb Shakes Market Watchers

Manufactured Home Owner, and Billionaire Third Point Hedge Fund’s Daniel S. Loeb Shakes Market Watchers

Cavco Chairman Joseph H. Stegmayer Steps Down Under SEC Cloud, “Personal, Confidential” SEC Document, Cavco Industries’ Statement

Cavco Chairman Joseph H. Stegmayer Steps Down Under SEC Cloud, “Personal, Confidential” SEC Document, Cavco Industries’ Statement

Divisions in America, and Manufactured Housing – Reality Check 1 – 11.9.2018

Divisions in America, and Manufactured Housing – Reality Check 1 – 11.9.2018

 

Thursday 11.8.2018

Markets Muted, Mixed, See FED OMC Meeting Notes, Plus MH Market Updates

Markets Muted, Mixed, See FED OMC Meeting Notes, Plus MH Market Updates

National New HUD Code Manufactured Home Production Data Summary, September 2018 Analysis

National New HUD Code Manufactured Home Production Data Summary, September 2018 Analysis

Direct Relationship – Rule of Law, Sound Information, Equal Access, Profits & Pay – MHVille, Megyn Kelly, Tucker Carlson

Direct Relationship – Rule of Law, Sound Information, Equal Access, Profits & Pay – MHVille, Megyn Kelly, Tucker Carlson

MHARR Warns Single Source Federal Contract is “Bridge to Nowhere”

MHARR Warns Single Source Federal Contract is “Bridge to Nowhere”

Wednesday 11.7.2018

Sun Communities Strategic Investment in Ingenia Communities, Info, Videos Beyond the Release, Plus Manufactured Home Industry Market Updates

Sun Communities Strategic Investment in Ingenia Communities, Info, Videos Beyond the Release, Plus Manufactured Home Industry Market Updates

Key Clayton/MHI/BO Bets Spanked, First Look at Winners & Losers

Key Clayton/MHI/BO Bets Spanked, First Look at Winners & Losers

Conflict of Interests? MHI’s, MHARR’s Most Recent Statements on Controversial GSE Lending, House Financial Services Committee Chairman Weighs In

Conflict of Interests? MHI’s, MHARR’s Most Recent Statements on Controversial GSE Lending, House Financial Services Committee Chairman Weighs In

Another Top Manufactured Home State is Sliding on New HUD Code Home Shipments, More New Data

Another Top Manufactured Home State is Sliding on New HUD Code Home Shipments, More New Data

 

Tuesday 11.6.2018

Red Wave? Blue Wave? Here’s What Wall Street Is Watching, plus MH Market Updates

New Shipment Data, Top Manufactured Home State, Other MH States Continue Slide

New Shipment Data, Top Manufactured Home State, Other MH States Continue Slide

Lead, Kindly Light

Lead, Kindly Light

Sexual Harassment, #MeToo Small Business Workplace Webinar

On the Eve of the Midterms, Closing on Willie Horton? Plus, MH Market Updates

On the Eve of the Midterms, Closing on Willie Horton? Plus, MH Market Updates

 

Monday 11.5.2018

MH Sales, Marketing, Management Life Lesson – Plan A, Plan B

MH Sales, Marketing, Management Life Lesson – Plan A, Plan B

Former Clayton Homes Team, Employees Speak Out – Mainstream Media, Trade Media Reports

Former Clayton Homes Team, Employees Speak Out – Mainstream Media, Trade Media Reports

VP Mike Pence, “We’ll Hold House,” Make History “When We Elect John James” Rush Limbaugh, Sean Hannity Rally With POTUS Trump Monday Evening

Sunday 11.4.2018 Plus MH Week In Review, for 10. .2018 to 11.4.2018

Business Strategy, Open and Stealth Clients, Transparency, and Manufactured Housing

Business Strategy, Open and Stealth Clients, Transparency, and Manufactured Housing

 

Together with honest MHVille pros of good will, we can make our industry achieve its great potential. That’s done by making American lives better, together. “We Provide, You Decide.” © ## (Sunday Morning, weekly headline news review, analysis, and commentary.)

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

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Related Reports:

The Coming Breakup of Berkshire? MHI? Plus Sunday Headline Recap 10-14-2018 to 10-21-2018

 

Bernie Sanders, Steve Forbes, Prager U – Tax Reform, Facts, Fiction, and Fake News

July 14th, 2017 Comments off
ShutUpPayUpSteveForbestPragerUCreditsManufacturedHousingDailyBusinessNewsResearchDataReportsMHProNews-com

Original images are by Prager U, and were reformatted as shown by MHProNews, under fair use guidelines.

If you listen to Senators Bernie Sanders, Elizabeth Warren, Secretary Hillary Clinton or her supporters – such as Warren Buffett – you’d think that the rich aren’t paying enough in taxes.  Their answer?

Raise them.

Tax the rich sounds easy, especially when there are fewer of them to vote against the tax hike.

On the other side are those who believe that “The power to tax is the power to destroy,” as Supreme Court Justice John Marshall famously said.

Raise taxes too much, and capital flees.  The evidence?

Just look at the trillions parked overseas by big U.S. companies, say tax reform proponents, and you’ll see their point.

In fact, Sanders – who famously honeymooned in the Soviet Union – should realize that those socialistic programs ultimately fail.  A look at a satellite photo of Florida and Cuba, or North and South Korea, makes those points.

TaxReformPragerUSteveForbesDailyBusinessNewsManufacturedHousingINdustryResearchDataReportsMHProNews

George Mason University study revealed that the cost of compliance and economic costs of the current tax system total hundreds of billions of dollars – every year. Forbes argues for tax reform to change a system that favors the rich, who alone can navigate a 10,000,000 word tax code. Image credit, still from a video posted on this page. Image credit, Prager U.

Resource rich Venezuela, after a decade of socialist leadership, is teetering on the edge of political and economic chaos.  That, say pro-free market, limited-government believers, is a current example of what America faces if changes aren’t made under the Trump Administration.

SouthFloridaCubaNorthSouthKoreaSatelliteNightSocialismFreeMarketsManufacutredHousingIndustryDailyBusinessNewsMHProNewsLess than two weeks ago, Millennial Julia Granowicz wrote a foundation commentary that set the stage to examine economic freedom, taxation, and other issues, and how they impact American businesses – including, of course – manufactured housing.

JuliaGranowiczMillenialConsidersEconomicLibertyRonPaulWalerWilliamsMiltonFreidmanDailyBusinessNewsResearchDataReportsMHProNews

http://www.MHProNews.com/blogs/daily-business-news/economic-freedom-millennial-considers-founders-through-lens-of-ron-paul-walter-williams-milton-freidman/

Yesterday, the Daily Business News reported on concerns that Congressman Louie Gohmert (R-TX) expressed that forces on the left, and also from ‘the right’ – the GOP – were threating tax reform.

Prior GOP candidate for president, publisher and billionaire Steve Forbes has sounded the warning on taxes this week too.


In the two videos on this page, one tees up his general thinking on where tax reform should ultimately head, and why.

Forbes promotes the flat tax as the fairest, most pro-business, pro-jobs, pro-growth way to drain the swamp, even before that term was coined or mentioned.


The second video with Forbes expresses his concerns about tax reform.

For fair and balance, we share the video with Bernie Sanders, who lays out his vision.

Compare, Think

We Provide, You Decide.” © See which vision makes the most sense in the real world.  Ask yourself, why would so many billionaires say they support tax hikes, and then watch as they shift their wealth to foreign countries with lower taxes?

Why do so many of the ultra-rich – like Facebook’s founder – and soon to me factory built housing entry? – Mark Zuckerberg – promote “universal income,” and then use tax loopholes to minimize his own taxes and maximize his own power and wealth?

RC Williams, Daily Business News MHProNews

RC Willaims.

RC Williams called that “The Evolution of Poverty Pimping.”

http://www.MHProNews.com/blogs/daily-business-news/universal-basic-income-the-evolution-of-poverty-pimping/

There is fake news in manufactured housing, and fake news about manufactured housing, reported RC Williams.

The taxation issue is one that it is time to dig into and deeply understand.

NorthCarolinaManufacturedHomeCreditZillowDailyBusinessNewsMHProNews

North Carolina manufactured home, credit, Zillow. To see that report, which step by step documents how that fake news attack on manufactured housing was done, click the picture above.

MHProNews will be bringing you periodic stories as part of the effort to get to the root causes of what is holding back not only our industry, but also the majority of Americans.  Buckle your seat belts, and hang on for the ride. ## (News, analysis, commentary.)

ICYMI – Buffett focused part of Berkshire Hathaway’s annual meeting, is linked here.

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

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

Buffett Supports Trump Picks, Soros Has Other Ideas

January 23rd, 2017 Comments off
WarrenBuffettSupportsTrumpCabinetPicksSorosHasOtherPlanscreditNewsmax-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Newsmax.

As President Donald Trump enters his first full week of office, his cabinet picks remain the front and center topics of discussion.

But, there’s one well-known mogul who sees them as the right choices.

I overwhelmingly support President-elect Donald Trump’s choices for cabinet positions,” said Berkshire Hathaway CEO Warren Buffett.

Buffett made the comments last week at the premiere of a documentary about his life.

I feel that way no matter who is president. The CEO — which I am — should have the ability to pick people that help you run a place.

Buffett then doubled down on the CEO comment.

If they fail, then it’s your fault and you got to get somebody new,” said Buffett.

Maybe you change cabinet members or something.

While Buffett supported Democratic nominee Hillary Clinton during the election and called President Trump out regarding his tax returns, once the election was over Buffett told CNN that people could disagree with the president-elect, but he “deserves everybody’s respect.

According to Newsmax, Trump’s popularity is the worst for an incoming president in at least four decades, with just 40 percent of Americans saying they have a favorable impression of him, according to a Washington Post-ABC poll published January 17th.

Buffett doesn’t believe that matters very much.

It’s what you go out with that counts – 20, 50 years later what people feel you’ve achieved.” Said Buffett.

 

A Stark Contrast

WarrenBuffetSupportsTrumpCabinetPicksSorosHasOtherPlanscreditCNBC-postedtothedailybusinessnewsmhpronewsmhlivingnews

George Soros at Davos. Credit: CNBC.

Another mogul has a vastly different idea.

Billionaire George Soros also supported Hillary Clinton, to the tune of almost $10 million to super PACs. Additionally, Soros has also been connected to the funding of Black Lives Matter and other organizations.

Over the weekend at the World Economic Forum in Davos, Switzerland, Soros made his position crystal clear.

I personally am convinced that he is going to fail,” said Soros.

Failure will come not because of people like me who would like him to fail, but because his ideas that guide him are inherently self-contradictory and the contradictions are already embodied by his advisors.

Soros then elaborated on his comments.

I have described him as an impostor and a con man and a would-be dictator,” said Soros.

But he’s only a would-be dictator because I’m confident that the Constitution and the institutions of the United States are strong enough. He would be a dictator if he could get away with it, but he won’t be able to.

Most recently, Soros has been connected to over 50 groups that he has either funded or has close ties with who participated in the “Women’s March on Washington.”

WarrenBuffetSupportsTrumpCabinetPicksSorosHasOtherPlanscreditWashingtonPost-postedtothedailybusinessnewsmhpronewsmhlivingnews

Asra Q. Nomani. Credit: Washington Post.

Soros has funded, or has close relationships with, at least 56 of the march’s ‘partners,’ including ‘key partners’ Planned Parenthood, which opposes Trump’s anti-abortion policy, and the National Resource Defense Council, which opposes Trump’s environmental policies,” said Asra Q. Nomani, a former Wall Street Journal reporter.

The other Soros ties with ‘Women’s March’ organizations include the partisan MoveOn.org (which was fiercely pro-Clinton), the National Action Network (which has a former executive director lauded by Obama senior advisor Valerie Jarrett as ‘a leader of tomorrow’ as a march co-chair and another official as “the head of logistics”). Other Soros grantees who are ‘partners’ in the march are the American Civil Liberties Union, Center for Constitutional Rights, Amnesty International and Human Rights Watch.

WarrenBuffetSupportsTrumpCabinetPicksSorosHasOtherPlanscreditNBCNews-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: NBC News.

Nomani, an immigrant of the Muslim faith, voted for Donald Trump and received national media attention.

Impact of Trump Administration on MHVille

While the pro-Hillary Clinton side of the media spotlights the Soros-backed “rent-a-riot” protests, businesses are planning on investing billions more in the U.S., based upon President Trump’s economic policies.  Tim Williams told MHProNews that, “I am deeply encouraged that less than 24 hours into President Trump’s term, he has frozen new, potentially burdensome regulations.”  For his full comments, click here.

MHARR CEO, M. Mark Weiss, JD, told MHProNews similar thoughts, see the story, linked here.

As Daily Business News readers are aware, Berkshire Hathaway is the parent company to Clayton Homes, 21st Mortgage, Vanderbilt Mortgage and other factory-built housing industry suppliers.

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

(Image credits are as shown above.)

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RC Williams, for Daily Business News, MHProNews.

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

Buffett, Billionaires Benefit from Trump Market Jump

January 2nd, 2017 Comments off

BuffettBillionairesBenefitFromTrumpBumpHand100sCreditNewsmaxDollarPhotoClub-ManufacturedHousingIndustryDailyBusinessNewsMHProNewsBloomberg and Newsmax are among the mainstream media who report the irony highlighted by MHProNews earlier this month.

 

Namely, that Warren Buffett – who supported Secretary Hillary Clinton during the 2016 presidential election campaign – has seen his net worth jump by billions since the election of Donald J. Trump.  Most billionaires backed the Democratic candidate, and several in the energy and other sectors are seeing their wealth rise thanks to the ‘Trump market rally.’

Buffett’s wealth has soared some $11.8 billion by late December, as stocks in banking and airlines are among the Berkshire Hathaway holdings that spiked since November 8th.

As manufactured housing industry professionals know, Berkshire Hathaway is the parent to Clayton Homes production and retail operations, along with and several lending, production, suppliers and other housing component producers.

Berkshire Hathaway stock is thus part of the Daily Business News manufactured housing (MH) connected market report – a recent MH market recap, is linked here.

MHProNews editorially was among one of the few in media who saw the potential for a Trump win, and supported his candidacy – which this trade publication took precisely because the president-elect’s policy positions were common sense, and pro-growth.

The Masthead noted pre-and-post election that Buffett said that Berkshire Hathaway would do well under either major party’s candidate’s win.  But Buffett and many of his fellow billionaires had strongly supported the Clinton candidacy.

KevinClaytonL-WarrenBuffettR-InClaytonHomecreditTodayOnLine-postedManufacturedHousingIndustryDailyBusinessNewsMHProNews-768x476

Kevin Clayton, l, Warren Buffett, r, inside a Clayton Homes manufactured home display model. photo credit, TodayOnline.

Speaking about Donald J. Trump, Buffett said post-election that the president-elect deserved a chance and everyone’s respect.

Noted economists – and billionaires like Mark Cuban, who incorrectly predicted a 20% drop in the markets if Trump should win – now find their doomsday predictions wrong, and the billionaires are themselves – in some cases – billions richer.

The markets retreated in the closing days of 2016, which no doubt resulted in some give-back. Some market observers believe that the retreat was a mix of year end profit-taking, concerns that lame-duck president Obama’s exiting actions and plans by Democrats could make implementing the Trump economic, regulatory and tax reform agendas more difficult.

MarketWatchRussell2000Nov9-Dec302016-postedDailyBusinessNewsMHProNews-

Not Just Billionaires, Small Business Benefting Too

As the chart above demonstrates, the Russell 2000 has enjoyed a robust bounce post-election, even more than the 3 major U.S. markets.  Surveys of small business and consumer confidence have surged since November 9th.

MHProNews will continue to monitor the economic impact of the election results. ##

(Image credits are as shown above.)

soheylakovachmhlivingnewsmhpronews

Soheyla Kovach.

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

Dodd-Frank: Clintons, Buffett, Trump and What it all Means

December 5th, 2016 Comments off
doddfrankclintonsbuffetttrumpandwhatitallmeanscreditthewhitehouse-postedtothedailybusinessnewsmhpronewsmhlivingnews

President Obama signs Dodd-Frank into law. Credit: The White House.

With President-elect Donald Trump set to take office in a few weeks, one of the issues front and center is Dodd-Frank and what will happen to the legislation, which Senators Elizabeth Warren (D. MA.) and Bernie Sanders (I. VT.) have vowed to defend.

The issues, opinions, perspectives and points of reference abound.

Patrick J. Richard provided his take in American Banker, making the case that dumping Dodd-Frank could restore executive accountability to the financial sector.

doddfrankclintonsbuffetttrumpandwhatitallmeanscreditamericanbanker-postedtothedailybusinessnewsmhpronewsmhlivingnews

Patrick Richard. Credit: American Banker.

Absent from the debate over rolling back Dodd-Frank,” wrote Richard, “is recognition of how a regulatory recalibration – restoring balance between risk and rules – would also restore more personal responsibility on the part of financiers.

Richard used Warren Buffet and Berkshire Hathaway as an example of risk/rule balance in action, including Buffet’s line from his 2004 annual letter to shareholders that said “After all, who ever washes a rental car?

The ‘rental car’ in the oft-used expression could be a metaphor for the current financial services industry,” wrote Richard. “It has been so influenced by government regulation since the crisis that executives and boards of directors perhaps feel less ownership and accountability for its performance. Good governance recognizes that executives should treat the bank’s investments at least as carefully as their own money – or car.

CFPBmanufacturedHousing-polititcalCartoon-c-2016LifestyleFactoryHomesLLC-LATonyKovach-575x355

Parady of CFPB logo – credit, Plus 1 Properties. Cartoon collage credit, MHProNews.

Buffett referred to the importance of aligning executive and director incentives with shareholder interests in his 2004 letter.  In it, he made clear that all Berkshire Hathaway directors purchased their holdings in the markets just as normal shareholders did and that Berkshire Hathaway does not carry Directors & Officers liability insurance.

warren buffett pres obama motley fool 12-13

Warren Buffett, President Obama, credit – Motely Fool.

Buffett’s approach here is simple but far-reaching,” wrote Richard. “Directors and officers put ‘skin in the game’ and hold the same economic upside and downside as shareholders. They also face personal liability and full accountability for the legal ramifications of any misdeeds. Directors and officers do the right thing in part because it is in their personal interest to do so.

Richard also shared how this equation is more complicated for banks, as they treat shareholders and depositors as key stakeholders, even though their interests can be at odds. In part, this ties into the “why we need it” narrative of Dodd-Frank regulation. 

In reaction to the financial crisis, Dodd-Frank produced a blizzard of regulations to proscribe a litany of behaviors. But this approach has proven costly, complicated, stifling to innovation and susceptible to gaming,” wrote Richard. “Worse, it may have actually undermined executive accountability: The CEO in effect becomes a compliance manager rather than driver of key business decisions, often left to rely on the secondary assurances from risk managers and other mid-level managers.

Richard sums up his take by stating that massive regulation offers the opposite of the Warren Buffett approach. “By creating a system of highly detailed regulations that no CEO or board could recite, let alone master, Dodd-Frank and other regulatory schemes empower specialists, lawyers and bureaucrats,” wrote Richard.

doddfrankclintonsbuffetttrumpandwhatitallmeanscreditap-postedtothedailybusinessnewsmhpronewsmhlivingnews

Hilary Clinton. Credit: AP. 

Understanding the Clinton Connection

A recent editorial from Investor’s Business Daily (IBD) highlights comments from Hillary Clinton at a September Presidential debate, and shows how the Clinton Administration – not the tax cuts during the Bush 43 Administration – set the stage for Dodd-Frank.

In 1995, using the powers of the presidency, Bill Clinton turned the 1977 Community Reinvestment Act into an aggressive program that basically forced banks to lend money to ‘underserved’ communities,” the article said.

Credit: IBD.

Credit: IBD.

That meant those with low incomes who couldn’t necessarily repay a loan.

This is where The Department for Housing and Urban Development (HUD) comes in.

Under HUD Secretary Andrew Cuomo, the agency became particularly aggressive, in 2000 making a goal of over $1 trillion in new loans to low-income minority households,” the article said. Fannie Mae and Freddie Mac were told to make at least half of their loans to low- and moderate-income borrowers, mainly minorities.

Banks suddenly found that regulators had the power to refuse their branch expansions or reject a merger if they weren’t making enough loans to otherwise unqualified minority borrowers. So they played along.

They made the loans, and Freddie and Fannie bought the loans right back. It was like a game of musical chairs, and the Fed kept the game going in the early 2000s by cutting interest rates. Every time Republicans in Congress or President Bush talked about reforming housing programs, Democrats like Rep. Barney Frank of Massachusetts and Sen. Chris Dodd of Connecticut threw fits, threatening to gum up Congress and implying that GOP lawmakers were racists. The Republicans backed off.

And the connection is made.

Tax cuts had nothing to do with this whatsoever. Nor did the minor tinkering to the 1930s-era Glass-Steagall law in 1999, which was implicated in none of the major Wall Street insolvencies or subsequent bailouts during the crisis,” the article said.

It’s another die-hard Democratic myth,” IBD stated, “intended to absolve themselves of blame for the crisis. And the economy-killing Dodd-Frank financial regulations passed in 2010 were based on these Democratic myths — which is why we’re now having the worst economic expansion in modern history.

CourtRulesCFPBStructureUnconstitutionalcreditwikipediacfpbhubpages

Credit: Wikipedia, CFPB, HubPages.

MH Connections

Among the overlooked causes for the big slide of manufactured housing from the 372,000+ shipments hit in 1998 to the low ebb of the mid-to-late 2000s was loose lending standards of conventional housing lenders.  Buyers that once would have turned to manufactured homes for their housing, instead used so called “no doc” “liar loans” that boosted conventional housing at the expense of manufactured and modular home production.

manufacturedhousingindustryannualshipmenttrends-patrick-posteddailybusinessnews-mhpronews

The initial nose-dive of manufactured housing that came after 1998 was due to a large volume of repossessions from poorly underwritten loans.  But the next bite out of the industry’s proverbial apple was equally poor – and far costlier to the U.S. economy and millions of conventional housing owners – loans made on houses that were too risky, and failed. Graphic image credit, Patrick.

As Daily Business News readers are aware, we have followed Dodd-Frank, the Consumer Finance Protection Bureau (CFPB) and its effect on the MH industry closely, including both being in the Trump Administration crosshairs, the CFPB being ruled unconstitutional, and who the Feds and the CFPB are working for on a practical level.

paulbradleycredtimhpronewsstanthonycasehighlightsbattleovercommunityownersrightsvsresidentsrights-dailybusinessnewsThe issue brings a common divide.  Paul Bradley stated his concerns about bringing Dodd-Frank to an end in a new article, linked here, concerned that ending those standards could mean a return to “predatory lending.”

Manufactured homes ready for shipment-credit=wikipedia-postedDailyBusinessNewsMHProNews

Manufactured homes ready for shipment. Image credit – Wikipedia.

On the other side are those – such as award-winning retailer, Alan Amy – who told Inside MH that he believes that CFPB regulations are costing around 30% to 35% more sales of manufactured homes a year. If Amy is correct, that would mean some 25,000 (+/-) new manufactured homes a year. So this issue is front and center for manufactured housing professionals.

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Award winning manufactured home retailer Alan Amy estimated in the video linked above that Dodd-Frank is costing the MH industry – and prospective home buyers – 30% + more sales every year. Credits – Inside MH – MHLivingNews – Sunshine Homes and ManufacturedHomes.com.

We will continue to follow developments regarding Dodd-Frank and the CFPB closely as they unfold. ##

(Image credits are as shown above.)

rcwilliams-writer75x75manufacturedhousingindustrymhpronews

RC Williams, for Daily Business News, MHProNews.

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

Buffett On President-Elect Donald Trump: “He Deserves Everybody’s Respect”

November 15th, 2016 Comments off
berkshirehathawayclaytonhomeswells-fargoandmanufacturedhomeloanswarrenbuffettcreditinvestwithalex-postedtodailybusinessnews

Warren Buffett. Credit: Invest With Alex

Even though he supported Hillary Clinton in this years’ presidential election, Berkshire Hathaway CEO Warren Buffett says that the nation needs to unite.

I support any president of the United States. It’s very important that the American people coalesce behind the president,” Buffett told CNN’s Poppy Harlow in an interview on November 11th.

That doesn’t mean they can’t criticize him or they can’t disagree with what he’s doing maybe. But we need a country unified. He deserves everybody’s respect.

Buffett says that his choice to support Clinton was largely due to her temperament, and that he has not spoken with her since the election. He also shared that he understands that Americans upset about the lack of growth of the economy helped to get Trump elected.

Buffett also said that he would be willing to help the president-elect should he ask.

I would do that with any president. I’ve never called a president in my life. So I don’t initiate ‘em,” he said.

But if any president asks me for help in any way, I mean, that’s part of being a citizen.

Berkshire Hathaway stock has been on the rise since the election, with increase each day. For Buffett, he said that he was never concerned about stories predicting a stock market crash if Trump won, calling the fears “silly.”  For the most recent closing numbers, found on the Daily Business News’ manufactured housing industry connected stocks, please click here.

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Credit: Bloomberg.

Buffett said that he’s optimistic about the future of the U.S.

America is a fantastic county.

The Manufactured Housing Industry Speaks

MHProNews and MHLivingNews publisher L.A. “Tony” Kovach provided post-election commentary and collected feedback from MH industry pros.

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Credits: As shown.

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Tim Connor, CSP. Credit: LinkedIn.

I don’t care whether you are a liberal, conservative, independent or something else – the bottom line with this year’s election was simply more of the same or something new, different or unique,” said Tim Connor, CSP.

Eddie Hicks, a long time MH industry veteran and consultant shared his take.

M/H owners are certainly one of the ‘hidden majority’ who may have felt somewhat disenfranchised in recent years,” said Hicks.

It’s the dawning of a new day. After the shock and elation or disappointment wash over us, and we all have taken a collective deep breath, we can begin looking to the future. And in that future I think it is safe to say that changes, well, they are a come’in,” said Texas Manufactured Housing Association executive director DJ Pendleton.

DJ Pendleton. Credit: MHProNews.

DJ Pendleton. Credit: MHProNews.

For any who might not yet be aware, in addition to President-Elect Trump heading to the White House, both the House and Senate will now be controlled by a Republican majority. All three branches of government are in Republican control. What will this mean? It simply means that there is little in the way of the Republican policy agenda.

The full article by Kovach can be found here. ##

(Image credits are as shown above.)

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RC Williams, for Daily Business News, MHProNews.

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

Got Time? Buy Buffett’s Brain

January 18th, 2013 Comments off

SeekingAlpha, noting trends in the global economy, picks out five stocks it says will be lucrative in the long run, and one of them is Berkshire Hathaway (BRK-A, BRK-B). As the housing market continues to recover, columnist Frank J. Constantino says Berkshire does has a broad range of investments, but a direct tie to the construction industry: Shaw Industries, which sells flooring and carpeting; Benjamin Moore and Co. produces paint and wall coverings; Johns-Manville manufactures insulation and commercial roofing; the Nebraska Furniture Mart, the largest single furniture store in the nation; as well as Clayton Homes, the largest producer of factory-built homes in North America. As MHProNews has learned, while Berkshire trades at 17.7 times earnings, it is trading at 1.3 times book value, a more important indicator. BRK-A was up +0.01% today, and while BRK-B fell -0.27% today, its stock is just shy of its 52-week high.

(Image credit: Wikipedia)

Buffett’s Berkshire Shopping at Bankruptcy Court

June 13th, 2012 Comments off

Berkshire Hathaway has offered to purchase the loan portfolio and mortgage division of Residential Capital LLC, known as ResCap, which filed for bankruptcy last month, according to Bloomberg BusinessWeek. A subsidiary of Ally Financial Inc., which make loans to auto buyers and finances auto inventories, and which itself is owned 74 percent by the U.S. government as the result of the auto industry bailout, Rescap was highly leveraged due to mortgage defaults. Berkshire has matched another suitor’s bid of $2.4 billion for the mortgage unit, and slightly outbid Ally for the loan portfolio, $1.45 billion to Ally’s $1.4 billion. As in other instances of not engaging in bidding wars, Berkshire will wait until June 19 for the court to approve its offer. Ally may actually pay $1.6 billion under the Chapter 11 bankruptcy re-organization plan for Rescap, which was called GMAC Inc. before the auto industry bailout of 2008. Berkshire Hathaway is familiar to MHProNews.com as the owner of manufactured housing producer Clayton Homes, which operates its own lending unit.

(Image credit: AndyEnstallblog)

Motley Fool Outlines Why Real Estate Will Bounce Back

March 12th, 2012 Comments off

Kitchen at Legacy Homes in Texas

Clayton Homes, Vanderbilt Mortgage and Finance, as well as MH home-building, lending and other housing suppliers parent company Berkshire Hathaway chairman Warren Buffett said recently that if it were practical, he’d buy up “millions” of single family homes. Housing, he said, could be a better asset to hold than stocks. A recent item from the Motley Fool outlines some of the why. In many areas a combination of collapsing prices and record-low interest rates has made housing more affordable than ever. Moreover the cost of renting is rising. The real driver of housing, however is household formation, and that’s determined in part by demographics. On one hand you have the baby boomers, who might rather dispose of the home they have than buy one. On the other hand you have their children. Since 1947, an average of 1.2 million new households have formed every year and we created some 1.5 housing units a year. The difference represents both an over-supply, and some old homes which were destroyed. However in 2009, less than 400,000 new households were formed, not because of a shortage of people, but because the recession lead to shared residences. The formation rate was back to 1.1 million in 2011, however. Better employment numbers mean those sharing space will begin forming new households. Moreover, a fairly young population and continued immigration mean the good numbers on household formation will continue. As the article states: ” Even if immigration falls to half the Census Bureau’s currently projected rate, household growth will still average about 1.25 million annually. This low-end estimate puts household growth in the next 10 years on par with the pace in 1995-2005, and should support average annual housing completions and manufactured home placements of well over 1.7 million units. The higher-end estimate would likely support production exceeding 1.9 million units per year on average over the coming decade.”

(Image Credit: Legacy Homes, Eric Miller)