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Manufactured Housing Institute Outgoing Chair Tim William’s Remarks vs. MHI CEO Richard “Dick” Jennison Comments, Fact Checks

October 16th, 2017 Comments off

Credits, as shown, MHI, MHProNews, Pixabay.

I especially want to take this opportunity to recognize our President & CEO Dick Jennison and his senior leadership team: Lesli Gooch, Mark Bowersox and Rick Robinson at MHI. Our team in Washington is highly respected,” said Tim Williams, President and CEO of 21st Mortgage and the outgoing chairman of the Manufactured Housing Institute (MHI).

They get up every day trying to find a way to make your business more profitable with less regulatory interference,” Williams said.

The comments are quoted from a document created by MHI entitled, “MHI Chairman Highlights Industry Successes at Annual Meeting.”

Industry sources made William’s comments available to MHProNews.  Quotes shown herein by Williams will be from that document, unless otherwise noted.

MHI’s Outgoing Chair Facts First, MHI’s Dick Jennison’s to Follow

LookAtTheFactsFactCheckMHProNewsLogoDailyBusinessNewsMHProNewsI think you will agree with me when I say MHI and the industry have had a successful year so far in 2017,” Williams stated.

We’ve brought in more members who are retailers and community owners. We added more than 418 new retailers and 79 new members to the National Communities Council during my tenure.”

Sources connected with MHI provided some context to Williams’ remarks, by sending data obtained from Richard “Dick” Jennison.

Per sources, MHI changed its dues structure about two years ago, in an attempt to ramp up membership numbers.  Almost immediately after that rate change, Jennison reported some 350 new retail members (see below).  The indications were that the bulk of those new members were Clayton retail locations.

When asked by MHProNews to identify the breakdown of how many of those retailers were Clayton or other vertically integrated retailers, Jennison ducked that query by MHProNews, but replied as follows.

Answers to your Questions:

1. 354
2. Our retailer membership application process does not capture this level of specificity
3. Community retailers not included


Dick

Jennison declined to elaborate further, which an MHI source indicated was because MHI was trying to project an influx of independents, when the reality was that Clayton retail locations dominated those totals.

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Restating what MHI has supplied directly or indirectly, Williams did not disclose that most of those “new” members were supposedly Clayton owned company stores.  Nor did Williams say that the change came only after a dramatic drop in dues from “$575/location,” per Jennison, to only “$100/location.”

MHI’s “Financial Health

In addition to expanding our membership,” Williams said, “MHI’s financial health and its PAC program continue to remain strong. For the first six months of 2017, MHI’s net income is coming in at $575,000 which is up when compared to budget by $336,000. Cash reserves are currently at $3.6 million and represent close to 11 months of budgeted operating expenses.”

Williams also said that, “MHI’s communications and public relations outreach and efforts have increased significantly.”

This is a noteworthy topic, as several past and present MHI members and other industry professionals – as MHI member Frank Rolfe and other quotes previously published on MHProNews reflect – which criticized that Arlington, VA based trade group for precisely the communications issue.

Williams spoke about their Facebook likes in his address to members, plus other “engagement” statistics, as well as the year-over-year growth rate for the industry

For the first six months of 2017, HUD Code shipments were up 17% from the same timeframe last year,” Williams said.

Without disputing those numbers, that can be juxtaposed by the growth rate reported by Dick Jennison about 4 years ago of about 13 percent.

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Further analysis reflects the fact that Jennison put the total percentage of manufactured housing compared to single family housing starts at 14.5 percent for 2011. Using the latest U.S. Census Bureau figures for:

  • annually adjusted single family housing 2017 sales through August of 560,000
  • 52,567 manufactured homes
  • 612567 total, divided by/52567=11.65 percent.
  • To rephrase, Jennison showed manufactured housing as “accounted for 14.5” percent “of all new single family homes sold,” vs. the 11.65 percent rate so far to date, per the U.S. Census department information in the bullets above.

Bottom line, for all of the numbers presented to MHI members in Orlando – using MHI and U.S. Census Bureau supplied figures what the facts reveal is that manufactured housing’s share of new home sales declined since MHI’s social media and advertorial campaign launched, per Jennison’s and related Census data.

Ducker Research…

Also of concern is the contrast between MHI’s president stating in the video clip below that the industry should grow slowly.  Finally, after years of pressure on this topic by the Manufactured Housing Association for Regulatory Reform (MHARR), as well as other industry professionals — all as reported by MHProNews.

Further, the facts being reported in other industry trade publications about Ducker Research for MHI’s “Underserved Home Buyer Strategic Research Initiative” reveals that there is little “new” being heard, which Jennison himself hadn’t mentioned in the same PowerPoint provided to MHProNews by an MHI source.  See screen captures from Jennison’s prior presentation, below.

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One source told MHProNews that the kind of data Barry Noffsinger’s video (shown below) revealed – at essentially no cost to the industry – was largely in line with what Ducker’s data was to MHI.

This dovetailed with a concern expressed by a state association executive to MHProNews previously reported here.  That executive said that the Ducker research was unnecessary, as many in the industry ‘already know what’s needed.’

Given Marty Lavin’s critique published here months ago of MHI’s prior Roper research, and what emerges in the view of some in the industry is a pattern of serious questions and issues that are largely bypassed.

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The Manufactured Housing Institute (MHI) Logo is their property, and is used here under fair use guidelines. Collage credit, MHProNews.

Clayton, Cavco’s Data Reflects Slower than Industry Growth Rates

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So, MHI’s own data revealed by Williams – once analyzed – reflects something similar to what Clayton and Cavco data’s does, properly analyzed.

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Specifically, the two largest producers who dominate MHI are growing at a slower rate than the industry at large.  By contrast, Sunshine Homes – which is focused on residential style homes, in line with what Noffsinger said is what the millennials and most of the market wants – is reportedly has been growing at more than double the rate of the industry at large.

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Several manufacturers that Cavco Industries (CVCO) has purchased were MHARR members at the time they were bought.

A fact check of the House Financial Services Committee vote last week on Preserving Access will be forthcoming in the days ahead. Look for insights you may not find anywhere else in the MH Industry’s trade publishing.

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From Cavco annual report, see that, at this link here.

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Data above provided by MHARR, and are reportedly based upon HUD/IBTS data.

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Critiques, properly understood, are a way of improving performance. Every business, every sports team which aims to win does evaluations, which are a critique. “We Provide, You Decide.”   ©

In youth we learn; in age we understand.” – Marie von Ebner-Eschenbach

Sigmund Freud, says Wikipedia, was an Austrian neurologist and the founder of psychoanalysis.  He was long seen as an atheist, but it is worth noting that the NYTimes reported that late in his life, Freud became a believer. Freud spoke about the need for honesty, and that the truth – sooner or later – comes out, and the value of use of reasoning.

Being entirely honest with oneself is a good exercise.” – Sigmund Freud

“…no mortal can keep a secret. If his lips are silent, he chatters with his fingertips; betrayal oozes out of him at every pore.”  – Sigmund Freud

In the long run, nothing can withstand reason and experience…” – Sigmund Freud

The industry is growing at a relatively slow pace, given the need for millions of affordable housing units.

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Statistics were as of the date these calculations were first made. For a 400 Word Executive Summary, click this link here.

After years of inside and outside pressure, MHI has finally started to respond. But do their results – per their own president’s and prior chairman’s own data – reveals the robust progress being postured?

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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.

We Provide, You Decide.” ©  ## (News, analysis, fact check/fisking).

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

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

Manufactured Housing Industry, New HUD Code Home Retailing – More Exploring, Going Vertical

October 10th, 2017 Comments off

ManufacturedHousingGoingVerticalReportDailyBusinessNewsMHProNewsFirst in the mobile home business days, and later, as the manufactured home industry evolved, the sale of new homes was dominated for decades by independently owned and operated retailers and communities. 

Some independent retailers – a.k.a ‘dealers’ – developed over time into multiple-locations that also produced, sold – and sometimes also financed – their own homes.

For much of the industry’s history, it was independent retailers that dominated in total numbers.

It should also be noted that those eras when independents dominated, had far higher total home sales. Coincidence?  The National Federation of Independent Business (NFIB) – which includes 325,000 companies, hundreds of which are in manufactured housing – has argued that small business is a backbone for America.

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The popularity of mobile homes rose rapidly in the post World War II period. The first big drop came during the time that the HUD Code for manufactured housing was passed and went into effect. 

That trend of new home sales being dominated by independents stared changing in the mid-to-late 1990s. 

Fleetwood Homes and Champion Homes – then the two top producers of HUD Code manufactured housing – went on a buying spree of retail locations.  The big two builders of HUD Code manufactured homes were looking for more market share, and their plan was simple.

Establish new retail centers, or buy out existing ones that were already performing.

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To understand the proper industry terminology, click the graphic above.

Tony, I have absolutely no idea,” how many other HUD Code manufactured home producers are exploring or going vertical.  But, “In the case of [our company],” the “off-the-record for now” email read, “I give it consideration every single day!

Another independent producer said they were hearing some about this vertical integration trend, but not hearing a lot of this [yet,] but understand many attempt to find different ways to solidify and/or increase their market share and CSI.”

 Among the MH Industry’s Vertical Operations

·        Clayton Homes,
·        Cavco,
·        Nobility Homes,
·        Solitaire, and
·        American HomeStar,

are among those companies that produce and retail homes – these are brand that to various degrees are already vertically integrated.

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Sources tell MHProNews that the FEMA fiasco is sparking a move by some into vertical integration.

Vertical integration may or may not include new home financing – which Clayton Homes does through Vanderbilt Mortgage and Finance (VMF) – and may also include:

  • insurance,
  • transport, and
  • installation.

As regular MHProNews readers know, unlike 21st Mortgage, VMF offers programs that may not be available through their Berkshire Hathaway sister operation, 21st Mortgage. 

VanderbiltMortgageFinanceVMFZeroDownPaymentChattelLoanManufacturedHousingIndustryNewsMHProNews

Those differences between 21st and Clayton’s captive lender VMF, tilt toward VMF.  That gives Clayton at least a theoretical edge in the marketplace.  How Clayton does with that edge will be explored in an upcoming report.

 

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A variety of factors has influenced the rise and fall of manufactured home shipments over the years. Among those often noted are economic, finance, competition from easy site-built lending in the early 2000s, regulatory — and the impact of near monopoly” influences.

 …and Going Vertical…

The Daily Business News has heard directly from top executives at two operations, who have told MHProNews that they’re in the process of “going vertical.”

Both have mentioned the frustration over FEMA, as well as other causes for their plans.

While one company set no specific time lines, the other indicated that by this time next year, “going vertical” would be a “done deal.”  To protect proprietary information, and at the request of those sources, the specific details are being kept off-the-record.

VintageMobileHomesKenCorbinDailyBusinessNewsMHProNews

In the mobile home era, hundreds of thousands of more homes were sold than are being sold today. Yet the affordable housing crisis is raging nationally, Plus, the quality, design, appeal and satisfaction of modern manufactured homes are higher today than ever before.  While there are many factors – including regulatory ones – that contribute to the lower new home sales volume today, sources tell the Daily Business News that it’s due in part to what producers across the country have said is a lack of independent MH Retailers. With the FEMA crunch, there are now increased concerns from a growing number of independents about the direction that current events are taking the industry.

MHProNews has also heard from/about two other operations that are testing/going/exploring vertical integration.

All of this comes down to an insufficient number of independent operations,” one source in HUD Code building said. “A competitor of ours is helping new independents open up; not exactly a vertical operation, but a step towards that, as they’re offering floorplan on their inventory.”

Charley Lott, Fleetwood Homes

CharleyLottFleetwoodHomesPalmHarborCavcoIndustriesMHProNews

Charley Lott, Fleetwood Homes, Cavco Industries, credit, MHProNews.

At the Louisville Manufactured Housing Show, circa January 2007, Fleetwood’s Charley Lott – now part of Cavco Industries – stood in a room with over 100 independent operators in it. 

Lott was making his ‘mea culpa’ to those independent retailers and communities, for the period when Fleetwood “forgot” its independents that helped make them a top player in manufactured housing for many years.  

Lott admitted to that room of independent retail and community professionals that in Fleetwood’s rush for vertical integration –  during their late 1990s contest with Champion – their focus shifted away from independents. He admitted apologetically that it hurt many involved in that process.

Much has changed in the last 20 years, as longer-term manufactured home industry veterans know. 

But the question of vertical integration is a vexing one, which IBIS World and The Atlantic predicted, as was previously reported at the link below the graphics that follow.

AmericasFastestDyingBusinessMobileHomeRetailers

A close reading of the IBIS World/Atlantic report made it clear that the headline was actually focusing on how independent manufactured home retailers were dying off. That projection, now several years old, has proven to be correct.

Some of the causes for the failure of literally thousands of independent HUD Code independent retailers – and later several of the producers which supplied them – has been explored in part in previous articles, one of which is linked here.

How many independent retailers have vanished?  Former Clayton exec turned-speaker, Ken Corbin puts the number around 10,000.

CallKenCorbin10000ManufacturedHomeRetailerDealerDropDailyBuisnessNewsMHProNews

The above is a collage of some images from Ken Corbin’s presentation at the manufactured housing industry’s 5 State Event in Deadwood, SD. Graphic by Corbin used with permission.

There will be a special report of a process that accelerated the demise of independent retailers and producers. It will explore a related, underlying cause that’s gone under-reported in MHVille. It is one that sources say the Manufactured Housing Institute (MHI) and its key players have allegedly hoped would not “come out” to see the light of day.

Still Several HUD Code Independent Producers Committed Solely to Independent Retailers

Sunshine Homes president John Bostick has made it clear to his retailers that he is committed to them.

That loyalty is valued and respected in the hospitality and meeting rooms where dozens of Sunshine independent retailers and communities gather.  Having attended several of those over the years, the mutual respect at their gatherings is tangible. That independent producer, retailers, communities and builder/developers have forged a bond with each other, that in several cases, spans decades. 

So, one point is that not everyone is ‘going vertical.’ 

Besides Sunshine, several other independent producers and retailers exist, as Bostick has noted on several occasions.  Many are represented by the Manufactured Housing Association for Regulatory Reform

As FEMA and other pressures grow on retailers and producers alike, what the future will hold is literally up for grabs.

Up For Grabs

One of those grabbing for a takeover of more independents is Clayton Homes, as the Daily Business News has previously reported. 

ClaytonHomesFEMALogosDailyBusinessNewsMHProNews

As pressure on independent retailers mounts from direct and indirect causes, industry professionals have voiced on-the-record concerns that they are being squeezed in the marketplace.  Learn more, click above.

A reliable source tells us that Clayton has “a mandate” to continue growing their retail division.

There are concerns about “the near monopoly,” as Maxine Watters (D-CA) and some of her congressional colleagues have expressed about Clayton grip in HUD Code production.  

But sources note there seems to be less federal oversight on the industry’s retail side.

Some of that expansion by Clayton retail will come, per another source, from expansion and buyouts, like the one previously reported about award-winning Home Mart, in Tulsa, OK.

HomeMartClaytonHomesGoogleMapsDailyBusinessNewsResearchDataReportsMHProNews

A growing number of retailers are selling out to Clayton Homes, as MHProNews has been reporting.

But others, per that source, will come from attrition of the relatively small numbers of independent producers still in the market place. 

That allegation and other concerns noted will be explored in yet another planned, upcoming report. ## (News, analysis, commentary.)

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

LATonyKovachMHProNews-com-

L. A. ‘Tony’ Kovach addressing industry professionals in an educational session.

By L. A. “Tony” Kovach, managing member of LifeStyle Factory Homes, LLC – parent company to MHLivingNews and MHProNews.

 

 

 

 

 

 

Sunday Morning Weekly Recap Manufactured Housing Industry News August 20th to August 27th, 2017

August 27th, 2017 Comments off
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Week of Aug 13 to Aug 20, 2017.

Our new August issueOur theme for this month: Awful, Awesome August 2017 in MHVille

featured articles will be available on the MHProNews.com home page. Our May theme will be available mid-week this week.

 To see the line-up of over 2-dozen featured articles for this month, along with the headline commentary, please click the link above.

Manufactured, modular and prefabricated home professionals know that how a home got to its location should not define a person or their dwelling.

What the Daily Business News spotlights day-by-day are the tragedies, triumphs and struggles for acceptance of the obvious solution for millions for the growing affordable housing crisis in the U.S. and beyond.

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When you read the lineup for the month found on the home page, you can reflect on another motto as you chart your own professional path ahead: “We Provide, You Decide.”  ©

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What’s New On MHLivingNews

Plastic Housing? The Amazing Story of Futuristic Micro-PreFab Homes, Video

$2 Million Houses – How do they stack up to buying a new Manufactured Home?

August 26th, 2017

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Featured image credits, MHProNews/Pixabay.

 

August 25th, 2017

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Original photo credit, Pixabay, text and collage credit, MHProNews.com.

August 24th, 2017

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August 23rd, 2017

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August 22nd, 2017

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Still from Inside MH video, credits, ManufacturedHomes, MHProNews.com.

August 21st, 2017

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http://www.mhmarketingsalesmanagement.com/blogs/daily-business-news/america-manufactured-housing-debate-over-minimum-wage/

August 21st, 2017

 

Cajones, Warren Buffett, Manufactured Housing Institute, More

August 24th, 2017 Comments off
CojonesThatCatsGotPlentyYoungAdventuresDailyBusinessNewsMHProNews

Image credit, Young Adventuress.

A routine flow of calls, comments and questions come into the Daily Business News (DBN) on MHProNews.

What follows are recent quotes from callers and messages to MHProNews. Many of these are addressed to our publisher, thus the word “you.”  It provides a flavor for the mood of many in the industry on the topics noted.

Quotable Quotes, Across the Spectrum

“…you’ve lost your mind.”

 

The Lois Starkey, Pam Danner and HUD connection stinks to high heaven.” (Editor’s note: links in these quotes are often not in the original, they are provided for clarity, or as an example.)

 

Great reports. You’ve got cojones.”

 

The Tim Williams report is simple, revealing and mind blowing. Well done.”

 

Billionaires and manufactured homes, who knew!  Thank you.”

BillionairesMillionairesMontaukShoresCondoResortHamptonsLongIslandNYCurbedDailyBusinessNewsMHProNews

 

Thanks for your hyperloop report.  Wow, what a paradigm shift could be ahead for manufactured housing.”

HyperloopOneEconomicTimesSunshineHomesRedBayALCitiesManufacturedHousingIndustryDailyBusinessNewsMHProNews

Your “system is rigged” report on what HUD really is all about was spot on.”

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HUD Logo, and all third party images are shown under fair use guidelines.

I’m not sure why you started to write about robots and AI, but I’m starting to get it.  Thank you.”

 

Really liked Arc of Dreams, those kinds of stories are inspiring.”

 

Thank you for [the] reports from overseas on factory built homes. It’s useful to get that international perspective.”  (Editor’s note: links in these quotes are often not in the original, they are provided for clarity, or as an example.)

 

When your team writes about it, we want to know about it.”

 

Our state’s association is useful on local matters. MHARR and MHProNews are the only reliable sources for national issues impacting our business.”

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MHI, MHARR, MHEC logos, are each the property of their respective association, and are shown here under fair use guidelines.

Good job on the Pam Danner, preemption topic.”

 

As an MHI connected source said, “…several know about Jennison’s early efforts to manipulate you. Looks like [that was] his biggest mistake.”

 

Note to self. Don’t ever get on Tony’s bad side (lol).”

 

You’ve brought together a blend of manufactured, modular, general housing, economic, and political reports that are relevant. Keep it up.”

 

Preserving Access has become a bad joke. That dog won’t hunt with me anymore.”

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One of several screen shots from reports on the odds for passage of Preserving Access. These odds change, You can do a search on that topic in the Daily Business News search tool, and see what third party researchers are saying about that issue. Watch for an upcoming, special report on another MHI-related financing issue.

Some of what you do is opinion based.  That said, your articles and opinions are useful.”

 

Marty’s [Lavin] points about MHI and their prior image building efforts are spot on. MHI doesn’t defend their own industry now, as Frank [Rolfe] has said. There are no good reasons to trust whatever they have to say about an image campaign.” (Editor’s note, again, links in these quotes are often not in the original, they are provided for clarity, or as an example.)

 

You’re the Matt Drudge of manufactured housing.”

 

Our office skims your daily market report, and reads everything else you publish. Thank you.”

 

What you’ve written about MHI, Jenny Hodge and the industry’s lending was the truth hiding in plain sight.”

 

I hate what you’re doing to MHI.”

 

We like 94% of what you publish. Kudos!”

 

Are there really going to be resident protesters at the MHI annual meeting?” (Note: several variations on this question come up. Our answer is, first, the history of Dave Anderson and groups like MHAction that are involved – long before the recent protest talk – that we’ve reported on for years.  Then, what sources from those camps and others are telling us. MHAction initially said words to the effect that their steering committee had to vote on it. Later, MHAction told MHProNews that they won’t confirm, nor deny, protest plans for MHI’s annual Orlando meeting. NMHOA has said, they “are not participating” [participating in what? The planned protests?].  See the latest report, linked here, and the people behind those anti-industry activist groups plans, linked here. Stay tuned.)

 

From a well known, long-time MHI member; Warren “Buffett owns Clayton and 21st, so he owns MHI. It’s obvious. But no one else except your team and MHARR have had the guts to say out loud what people have been talking about privately for years.”

 

The fact MHI doesn’t take you on, head on in an open debate, says it all.” 

 

How can MHI get such basic facts for manufactured housing consumers wrong?” (Editor’s note: links in these quotes are often not in the original, they are provided for clarity, or as an example.)

 

Go —— ————.”

 

Great work on that climate change and tornadoes report. We use those kinds of facts with a number of our customers.”

 

Your passion and true love for the industry shows. Please try to cut down on [the] typos. Thanks.”

 

I listened to you make several helpful suggestions in MHI meetings.  You’ve done articles up to a year or so ago that they ought to have liked.  I don’t get it.  What’s their beef that led up to the feud?”  (Editor’s note: we don’t consider it a “feud.” We report what we see and hear, and analyze what we see and hear.  On Preserving Access, for example, when MHI tried to allegedly mislead their own members, and their track record was so routinely questionable, those were a bridge too far.).

 

Donald Tye’s comments have been helpful and refreshing.”

 

You’ve got balls. Thank you, the industry needs what you guys do.”

 

A comment about MHI’s periodic email, called… “MHI Zen? Other than networking and their fair housing stuff, almost everything else coming out of MHI is posturing, chest thumping, irrelevant, already covered better by MHARR, you or a state association.  Often, their housing alerts are just more MHI lies and spin They’re a waste of money.”

 

Have you heard what the Orlando [MHI] turnout will be like? Their D.C. Fly-in was down 60% from last yearAre those activist protest rumors depressing their upcoming meeting attendance?”

 

I voted for Hillary, so I think you are wrong about [POTUS] Trump. But the rest of what you do is good, solid information.”

 

The “Preemption fact check, [was] goodThanks.”

 

We need a new national community and retailers [sic] association. What can you do about that?”

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Tony, no offense to Dennis [Hill], but I’m exploring doing events and trade shows. Would you be interested in working with me on that?”

 

Tell me more about VMF’s zero down chattel program.” (Editor’s note: the latest, linked here; and watch for another upcoming industry lending report.).

 

From a longer message…“They [the powers behind MHI] are devious monopolists, period. When I watched Dick Jennison say on camera that the industry should not grow fast, and Nathan Smith [previous MHI chairman] say on camera that he wanted all the communities for himself, that said it all.”  (Note: italics were added, they were not in the original.  And the two videos the writer is referring to, are reposted below.)

 

Richard A “Dick” Jennison, above, Nathan Smith, SSK Communities, below.

We need a new [national manufactured housing trade] association.” (Note: several variations on that topic come up. See the video comments, related, below.)

I’m an independent. Thank you for laying out the fact-based case for the Trump agenda. If the left had a policy of their own, they would not be losing special elections, behind on fundraising, trying to salvage Bernie, nor taking the risky tactic of funding those protests and rioters.”    (Editor’s note: links in these quotes are often not in the original, they are provided for clarity, or as an example.)

 

The RINOs make me sick. Rand Paul is right, there’s an unholy alliance between many in the GOP and Democrats. “

 

Soheyla’s point on Cavco was eye opening, and I think that fact applies to Clayton too.”

 

You and MHARR are the consistent, common-sense national voices for the industry.”

 

 

Industry Voices rocks, get more of that.”

 

Don’t let them bully you. Don’t stop now.”

 

Facts

 

People often ask us, what kind of feedback are you getting? The above represents a small sample.

Other facts also speak for themselves.

Sign-ups for our popular, industry leading, twice weekly emailed headline news updates are rising (note, we had a tech glitch on sign ups; which is now corrected — go to this link here).

Open and click through rates on email news updates are as much 50 to 250 percent higher than media and publishing averages, per MailChimp.

Page views per visit hover around 8, which is some 250% more than the typical mainstream media news site.

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News tips and feedback are up.

IReportMHNewsTips@MHMSM-comMHProNews

All opinions are those of the writers and/or callers.

All opinions, claims, insults, and allegations should be treated as such. The two most common words we hear routinely include – ”thank you.”

We Provide. You Decide.” ## (News, analysis, comments.)

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

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

Sunday Morning Weekly Recap Manufactured Housing Industry News June 25 to July 2, 2017

July 2nd, 2017 Comments off
ManufacturedHousingIndustryProfessionalNewsWeeklyRecap2017MHProNews

A look at the new MHProNews.com home page.

As vacation season rolls on, we’ll try something just a little bit different again today for our weekly recap of .  Reader feedback, always encouraged and appreciated.  Matthew and his work are missed, but we hope his trip to the mountains will be a good one!

What’s New on MHLivingNews.com

We’re testing out some new things on the Daily Business News this week too, and have had some guest writers doing reports for us.  Traffic on these reports have been good  – that’s always a positive sign – but your written feedback is appreciated. 

July 1st, 2017

Able+AbleFactoryBuiltHomeModularManufacturedHousingDailyBusinessNewsMHProNews

June 30, 2017

HUDSecBenCarsonAbsoluteNeedHousingCrusadersAffordableHousingManufacturedHomeDailyBusinessNewsResearchDataReportsVideoDailyBusinessNewsMHProNews410

June 29th, 2017

PacificSkiesCarlyleGroupManufacturedHomeCommunitiesBizJournals-DailyBusinessNewsManufacturedHomeIndustryProNews

 

June 28th, 2017

 

hetMurphreeDeerValleyHomebuildersJamesMcGeeDeerValleyHomebuildersLATonyKovachInsideMH

Chet Murphree, Deer Valley Homebuilders. James McGee. Deer Valley Homebuilders, L.A. ‘Tony’ Kovach, Inside MH.

June 27th, 2017

 

MHARR_accuses_HUD_of_power_grab_June_2017

 

June 26th, 2017

OPEC Disarray May Yield Manufactured Housing Industry Hooray

Proud Patrick Performance Perspective Spotlighted, MHCV, Markets Mixed

LoisStarkeyFormerlyVPManufacturedHousingInstituteRichardADickJennisonPresidentCEOMHIDailyBusinessNewsManufacturedHomeIndustryReportsResearchDataMHProNews

MHI Legislative Fly In Clouded By New Controversy

Eric Conn ‘Trailer Law Complex’ Social Security Attorney ‘On the Lam’

Putting the Cart Before the Horse—Er, House—in Montana

Sunday, June 25th.

Sunday Morning Weekly Recap Manufactured Housing Industry News June 18 to June 25, 2017

SoheylaKovachManufacturedHomeLivingNewsManufacturedHousingIndustryDailyBusinessNewsMHProNews-

(Image credits are as shown above.)

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

Sunday Morning Weekly Recap Manufactured Housing Industry News June 18 to June 25, 2017

June 25th, 2017 Comments off

The New June 2017 articles on the MHProNews.com home page are live, with the full line up on display at this link here.

If you’ve been super busy, traveling, have been on vacation, or are new to the Daily Business News  on MHProNews, welcome to our weekly recap of the Manufactured Housing Industry’s News, Tips and Views that Pros Can Use.” ©

 

 

Let’s start with what’s New on MHLivingNews.com

At Death, What do You do with a Mobile or Manufactured Home?

Highlights of What’s New on MHProNews.com and the Daily Business News

 

 

 

 

Saturday, June 24, 2017

 

 

 

Rendering of unrelated modular home in San Bernardino, for illustration purposes, Credit: Express Modular

City Expanding Affordable Housing

 Friday, June 23, 2017

The Homeless are Finding Benefactors in Many Cities

Skyline Investor Move$ Spotlight; Other MH Stocks, Broader Markets Mixed

 

 

Senior Staff Shakeup at the Manufactured Housing Institute (MHI)?

LoisStarkeyFormerlyVPManufacturedHousingInstituteRichardADickJennisonPresidentCEOMHIDailyBusinessNewsManufacturedHomeIndustryReportsResearchDataMHProNews

Are Americans Hunting for the Single Sectional Manufactured Home Alternative?

Competitive Enterprise Institute Grades Trump on Energy, Domestic Policies

 Thursday, June 22, 2017

 

Huge Loss to Affordable Housing Stock May Be in Offing

Residents of Green Tree Estates, l-r, Roz Bailey, Annabelle Bentley, Dianna Weys, Credit: Amy Reid-Surrey Now Leader

Investor$ Big Move$ – LPX Spotlight; Tricon, LCI lead, NOB, SKY Bleed

Free Resource for Retailers, Communities, Your Customers and Residents

Jana Kasperkevic, Tiny Houses, Manufactured Homes & Financing

USDA Celebrating National Home Ownership Month

 Wednesday, June 21, 2017

 

Fearful Residents Ask, “Are There Murderers Living Here?”

Modular Housing Scandal? HUD Investigating, Senator McCain Blasts, Wants Reforms

Insider Trades, UMH – Carlyle Surges, Skyline Slips

‘CFPB Rectal Exam,’ Congressman Stresses Need for Credit & Financial Reform, Manufactured Home Pros React

 

ManufacturedHomeCommunityOwnerWilliamKellyGenevaALManufacturedHousingImprovementAct2000LocalTownOrdinanceIllegalDailyBusinessNewsMHProNews

Is this MH Community Owner, Plus Thousands of Others, Unwittingly Waiving Rights Under Federal Law?

Tuesday, June 20, 2017

 

Summit Homes, Clayton Subsidiary, Donates to St Jude’s, Skyline JUMP$

Datacomp Releases Another JLT Manufactured Home Community – June 2017 Rent, Occupancy Reports, for Seven Markets

PlantationOaksManufacturedHomeCommunityOrmondBeachFLDailyBusinessNewsResearchDataMarketReportsMHProNews

 

Posh, Massive New Manufactured Home Community Being Developed

War Talk Worries? How Is It Impacting Markets?

National Home Ownership Month, MSU Tornado Researcher-Mark Skidmore-Touts Manufactured Homes as “Great” Option

 

Monday June 19, 2017

SamZellEquityLifestylePropertiesChairmanRegulationsHarmSmallerBusinessResultConsolidationMHProNewsELS’ Sam Zell – Compliance Costs Destroys Smaller Businesses = Consolidation

Why Cavco Bought Lexington Homes, per Joe Stegmayer – CG, AMG, MHCV Up

Consolidation? Not just Manufactured Housing, Look at Banking – Similar Causes?

Starting Today, it’s Prosperity Now, CFED’s Rebranding

Michael Geller, Making a Home for Manufactured Housing, a Vision for America

 

Sunday Morning Weekly Recap Manufactured Housing Industry News June 11 to June 18, 2017

 

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

Submitted by Matthew J. Silver to Daily Business News on MHProNews

ELS’ Sam Zell – Compliance Costs Destroys Smaller Businesses = Consolidation

June 19th, 2017 Comments off

SamZellEquityLifestylePropertiesChairmanRegulationsHarmSmallerBusinessResultConsolidationMHProNewsIn yet another piece of evidence that heavy regulation harms smaller business at the expense of larger ones, are recent statements by Manufactured Home Communities giant, Equity LifeStyle Properties (ELS) Chairman, Sam Zell.

Barrons and Newsmax reported Zell saying that President Donald J. Trump with less than 6 months in office “has already rolled back the rule about navigable waters [Environment Protection Agency (EPA), which extended the reach of federal water regulations].”

By contrast, Zell noted that “In his first year, President Barack Obama spent a trillion dollars on a stimulus bill, which achieved nothing other than almost a trillion dollars of debt that is now worth more than that.”

Zell is no fan of the president’s tweets. But he also noted that the presidency wasn’t getting the respect it was due. “The strength of our society is predicated on respect for his office. That’s missing right now.”

The ELS chairman, author, and investment legend said another Democratic administration – meaning, a Secretary Hillary Clinton victory – would have tipped the nation into recession.  Instead, the markets are rising as a result of the Trump effect.

Trump’s election gave us extra innings because there’s more optimism in the business sector. Smaller businesses were basically destroyed by the Obama administration. Compliance was a giant animal that gobbled up everything. However, this recovery began in 2009. There aren’t many examples of 10-year recoveries in U.S. history.”

That dovetails with concerns and issues raised by MHProNews, in reports like those linked here, here and here. While Zell didn’t per se state that heavier regulations results in consolidation, that’s the obvious conclusion when you ‘do the math.’

Zell blasted President Obama’s administration in a prior statement, linked here.

Cavco Data on MH Consolidation

The Daily Business News featured report on Cavco Industries that also underscored how the top 2 companies represent some 63 percent of all manufactured housing production.

CavcoManufacturedHousingIndustryConsolidationDataResearchReportsDailyBusinessNewsMHProNews

The Cavco chart above is one of several possible examples of industry consolidations which some MH professionals allege are caused by regulatory and other pressures made worse by federal policies, and which have been unsuccessfully addressed by MHI.

The two charts shown are consolidation in action. Cavco’s own records and statements reflect that much of that took place during the Obama Administration, when Dodd-Frank, HUD, and other regulatory compliance skyrocketed.

IndustryMarketShareClaytonCavco63%ManufacturedHousingIndustryDataResearchMarketStockReportsDailyBusinessNewsMHProNews

Several named sources are pointing to how that helped big banking/lenders and appears to have benefited the two largest players in manufactured housing too (see that exclusive Cavco report, linked here).

Meanwhile, HUD has failed to enforce its own enhanced preemption under the Manufactured Housing Improvement Act of 2000. This has been true even though HUD’s own PD&R university level research shows value of manufactured housing, including in urban infill settings. All this has been taking place at the very time when affordable housing needs are growing.

President-ElectTrumpVPMikePenceUPI-to-name-fast-food-executive-Andy-Puzder-to-run-Department-of-Labor

Andrew Pudzer, right, was President Elect Trump and VP elect Pence’s first pick to be labor secretary. Pudzer ended up withdrawing his nomination. (UPI photo credit).

Pudzer on Trump Effect

Andrew Pudzer, previously the chief executive of CKE Restaurants (including Hardees) who was President Donald Trump’s first pick for U.S. labor secretary, pointed to several positives from the early days of the Trump Administration.

Newsmax, citing Pudzer’s op-ed, said: “…the most important indicator is the rise in household income, which gained more in the first three months of the Trump presidency than during the entire seven and a half years of the Obama recovery. Median household income has surged $1,300 since the beginning of the year to $59,361, compared with a $1,000 gain during the Obama years.”

President Trump’s focus on reining in the administrative state has significantly reduced both the number of existing regulations and the output of new regulations, driving business optimism,” wrote Pudzer.

NFIB is optimistic about the Trump presidency and regulatory rollbacks, as is MHARR (see video, linked here).

Note: The latest closing numbers on ELS’ stock are found linked here. ##

(Image credits – when they are from third parties – are provided under fair use guidelines.)

(News, commentary, analysis, and op-eds should not be construed to represent the views of sponsors – or anyone, other than the writer. Disclosures: Soheyla Kovach is the co-founder, and a managing member of LifeStyle Factory Homes, LLC, which publishes MHProNews; she also is an early and ongoing pro-Trump policies advocate.)

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

Cavco Reaches Terms on Key Acquisition

March 31st, 2017 1 comment
CavcoReachesTermsonKeyAcquisitioncreditLexingtonHomes-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Lexington Homes.

Cavco Industries Inc. (NASDAQ:CVCO) tells MHProNews that it has signed a Letter of Intent, and has reached an understanding, on terms to acquire Lexington Homes, Inc.

The purchase of Lexington is expected to improve Cavco’s ability to participate in the growing Southeastern housing market, as well as better serve the needs of Lexington customers. The purchase price, due to be paid in cash at closing and funded with Cavco’s internal capital, was not disclosed.

The transaction is subject to the satisfaction of customary closing conditions.

Cavco has been in the news recently, and in their most earnings report, the company delivered $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.11.

cavcoindustriesreportsq2resultscreditcavco-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Cavco Industries.

Those results fueled investor activity, as JP Morgan Chase, BNP Paribas Arbitrage SA, and the Teacher Retirement System of Texas all either increased their stakes in the company or purchased new positions. Cavco was also recently featured as British insurance giant Legal & General made a significant move in its stake in the company.

As Daily Business News readers are aware, Phoenix, AZ-based Cavco Industries is one of the largest producers of manufactured homes, as well as a builder of modular and park model homes, vacation cabins and commercial structures. Factory-built homes are designed and produced under such brand names as Cavco Homes, Fleetwood Homes and Palm Harbor Homes.

CavcoReachesTermsonKeyAcquisitioncreditBloomberg-postedtothedailybusinessnewsmhpronewsmhlivingnews

Cavco 1 year look. Credit: Bloomberg.

Lexington Homes provides affordable manufactured housing from its manufacturing plant in Lexington, Mississippi to its retail distributors in the Southeastern United States. The company was founded in 2004 by individuals with combined experience of over 100 years in the manufactured housing industry.

Cavco is also one of the manufactured home industry connected stocks tracked every business day by the Daily Business News, with the most recent report, linked here. ##

 

(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

Legal and General Reveals Secret for Modular, Prefab Lending

February 9th, 2017 Comments off
LegalandGeneralRevealsWhatsNeededforModularPrefabLendingcreditLegal&General-postedtothedailybusinessnewsmhpronewsmhlivingnews

Legal & General factory. Credit: Legal & General.

The survey arm of insurance giant Legal & General believes it has the answer for bringing the mortgage market on board with prefab and modular home lending.

An industry-wide guarantee would help bring everyone to the market but, of course, their appetites will differ according to the requirements of their own lending policies,” said a Legal & General spokesman.

There are many ways of reassuring mortgage lenders that homes constructed offsite are reliable enough to lend on.

But not least is the need to establish an industry kite mark such as Build Offsite Property Assurance or the National House Building Council which offer independent assurance around the design life of the homes.

britishgianteyescavcoindustriesholdingscreditlgcavcoopenclipart-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credits: Legal & General, Cavco, Open Clip Art.

Legal & General, which owns a modular housing factory capable of building 3,000 homes per year in Leeds, U.K., has been active in the manufactured, modular and prefab industries, including increasing its stake in builder Cavco Industries.

Speaking on the Farmer Report by Cast CEO Mark Farmer in November, which called out modular housing as a solution to the U.K. housing crisis, Paul Stanworth, managing partner at Legal & General, commented on the company’s plans.

paulsanworthcreditukinfrastrcutreinvestment-postedtothedailybusinessnewsmhpronewsmhlivingnews

Paul Sanworth. Credit: UK Infrastructure Investment.

This review sets out a clear way for the construction sector to reinvent itself in order to meet the ever-growing demand for homes and infrastructure,” said Stanworth.

Legal & General is helping to address this problem by investing in a modern factory to produce homes using manufacturing processes seen in the production of cars and other consumer goods.

This construction method is safe, clean, and fast, providing a high level of consistency and durability. We sincerely hope that Farmer’s review galvanizes the entire sector to invest in innovation and secure its future.

According to Mortgage Introducer, Legal & General Surveying Services has been helping lenders understand risks and opportunities with visits to development sites that use modern methods of construction and by having speakers talk to property risk managers. It has also invited lenders to its factories.

The government also supports offsite construction and hints that a soon to be published housing white paper may increase that support,” said the spokesman.

The government will be keen to use these homes to fulfill the need in our cities as well as new towns. We see offsite construction as part of the wider solution to the housing crisis, and these buildings are particularly well suited to delivering affordable homes – the very kind of property we need most.

LegalandGeneralRevealsWhatsNeededforModularPrefabLendingcreditMortgageIntroducer-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Mortgage Introducer.

While critics of prefab homes in the U.K. often negatively compare them to ones built after World War Two, Legal & General says that the modern construction is very different.

Post-war, the key was to house people. Now the materials used must come with quality assessment so the properties can be mortgaged from the outset,” said the spokesman.

Also the quality of build and the features and specifications available are light years away from previous incarnations. New techniques are likely to be higher quality than traditional techniques because they are precision engineered.

Much like the automotive industry, the technology and features available now are unrecognizable to the post-war period.”

ChineseSpanishPowerPlayerstoBuildPrefabFactoriescreditcompaniesEnglandnet-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credits: Companies, England Net.

For more on modular and prefab housing in the U.K., including China National Building Material Company (CNBM), Barcelona Housing Systems and U.K. housing association Your Housing Group (YHG) joining forces to build six prefab factories that will deliver 25,000 energy efficient homes per year, click here. ##

(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.

Recent Investor Moves in Cavco Industries Examined

December 15th, 2016 Comments off
cavco-lapsiding-manufactured-home

Graphic credit, Cavco.

Cavco Industries Inc. (NASDAQ:CVCO) remains on the radar of investors, with a number of them increasing their stake in the company.

In their November 8th earnings report, Cavco delivered $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.11. The company had a net margin of 4.08 percent and a return on equity of 8.37 percent.

Per the Cerbat Gem, equities analysts predict that the company will post $3.55 EPS for the current fiscal year.

Investor activity in Cavco includes:

  • JPMorgan Chase & Company increased its stake in Cavco Industries by 1,925.3 percent in the second quarter.
  • GW&K Investment Management LLC increased its position by 27.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). GW&K owns about 1.08 percent of Cavco worth $9,587,000.
  • Teacher Retirement System of Texas increased its position by 14.3% in the second quarter. Mason Street Advisors LLC acquired a new stake in Cavco during the second quarter valued at about $152,000.
  • BNP Paribas Arbitrage SA acquired a new stake in the company during the second quarter valued at about $243,000.
InvestorsRemainBullishonCavcoIncreaseHoldingscreditBloomberg-postedtothedailybusinessnewsmhpronewsmhlivingnews

Cavco 1 year look. Credit: Bloomberg.

As Daily Business News readers are aware, Phoenix, AZ-based Cavco Industries is one of the largest producers of manufactured homes, as well as a builder of modular and park model homes, vacation cabins and commercial structures. Factory-built homes are designed and produced by Cavco under such brand names as Cavco Homes, Fleetwood Homes and Palm Harbor Homes.

Cavco Industries Q2 earnings report results are linked here.

Cavco was also recently featured as British insurance giant Legal & General made a significant move in its stake in the company, and is one of the manufactured home industry connected stocks tracked every business day by the Daily Business News, with the most recent report, linked here. ##

(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.