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Fewer New Homes – Opportunity for Manufactured Housing?

March 16th, 2017 Comments off
FewerNewHomesOpportunityforManufacturedHousingcreditKPCC-postedtothedailybusinessnewsmhpronewsmhlivingnews

Day laborers wait outside of a Home Depot in Southern California. Credit: KPCC.

Is there a correlation between the recent “day without immigrants” and the building of fewer new homes?

According to CBS News, it’s an open secret that many unauthorized immigrants work in the construction industry, and while they represented a five percent share of the U.S. civilian labor force in 2014, they made up about 13 percent of workers in the construction sector in that same year, per a Pew Research Center study.

And, according to a study by the National Association of Home Builders (NAHB), workers who are foreign born represent almost 30 percent of people employed in construction- related trades.

The NAHB says that they are in step with President Donald Trump’s position, which takes a strong stance against illegal immigration and supports immigration reform that would create a guest-worker program. This would allow employers to recruit legally authorized immigrant workers when not enough domestic workers are available.

Dallas, Texas-based home remodeling company owner Stephan Sardone saw the impact of the “day without immigrants” last month, when all of his subcontractor’s employees skipped work on a job.

The strike caused a minor inconvenience, but its message was clear,” said Sardone.

In his address to a joint session of Congress last month, President Trump made the call for a merit-based immigration system – one that is used in multiple nations around the world – that would give preference to highly skilled and employable immigrants over those moving for family reasons.

FewerNewHomesOpportunityforManufacturedHousingcreditPatriotFire-postedtothedailybusinessnewsmhpronewsmhlivingnews

Protestors against illegal workers. Credit: Patriot-Fire.

NAHB CEO Jerry Howard says that the roots of the labor shortage are deeper.

The homebuilding industry’s labor shortage has its roots in the housing bust, when large numbers of small-business owners and workers had to find some other way to feed their families,” said Howard.

FewerNewHomesOpportunityforManufacturedHousingcreditJerryHowardOfficialPhoto-postedtothedailybusinessnewsmhpronewsmhlivingnews

Jerry Howard. Official Photo.

Many found jobs in other fields and haven’t returned to homebuilding. On top of that, a number of immigrant construction workers left the country altogether and haven’t come back.

You have a workforce where those who are trained in much-needed skills have jobs in other sectors and don’t want to come back,” said Howard.

That’s a huge factor as to why there is a shortage of housing construction, and it’s not a problem that will go away overnight.

Information from the National Association of Realtors (NAR) shows that housing starts are expected to increase to 1.3 million this year, which represents a slight improvement over last year but still well below pre-financial crisis levels.

Homebuilders are building more than they have been in recent years, but not at the level that we truly need to satisfy demand,” said NAR chief economist Lawrence Yun.

 

Manufactured Housing: The Answer, Hiding in Plain Sight 

FewerNewHomesOpportunityforManufacturedHousingcreditJerryHowardOfficialPhoto-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: MHABC.

The Daily Business News has covered the labor shortage in home construction extensively, and continues to show evidence that manufactured housing is a practical and affordable solution to provide quality homes at a competitive price.

And, even though manufactured and modular homebuilders can also feel the “pinch” at times, one of the numerous advantages of factory building is the ability to recruit and train team members who can work effectively in a production center environment.

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John Bostick, president, Sunshine Homes, Red Bay, AL.

As John Bostick, owner and president of Sunshine Homes said in an interview this summer, “We have an almost unlimited capacity” to expand production.

For more on manufactured housing being the solution that’s hiding in plain sight,  see MHProNews  and MHLivingNews Publisher L.A. “Tony” Kovach’s insight into the opportunity linked 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.

POTUS Speech: Public, Media, Markets Applaud

March 2nd, 2017 Comments off
POTUSSpeechPublicMediaMarketsApplaudcreditNewYorkPost-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: NY Post.

Leading up to his speech to a joint session of Congress Tuesday evening, many were curious as to exactly how President Donald Trump would approach the moment and what his message would be.

Post speech, the responses, and where they came from, were quite interesting.

This will be a very well-received speech for Donald Trump,said MSNBC commentator Rachel Maddow.

I think it’s fair to say it’s a product of expectations that he’s not seen as somebody who necessarily gives a good formal speech.”

According to The Hill, media analysts estimate 40 million to 45 million people watched the address Tuesday night.

POTUSSpeechPublicMediaMarketsApplaudcreditTheHill-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credits: The Hill, CBS This Morning.

He said from the beginning he was going to speak from his heart, and I certainly think he did that,said Gayle King of CBS This Morning.

I thought it was by far the best speech I’ve ever heard Donald Trump give,” said Chris Wallace of FOX News.

It was one of the best speeches in that setting I’ve ever heard any president give.

 

Polling from CBS News showed that viewers nationwide strongly approved of the President’s speech, with many Democrats joining Republicans in calling it “presidential” and positive in tone.

The polls also showed Republicans and Independents found the speech “unifying,” and the President gained support for his policy plans among viewers on the economy, immigration, terrorism, crime and Obamacare.

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Credit: CBS News.

While half of Democrats reportedly found the speech “divisive,” about one-third of them also said President Trump was “specific” and “knowledgeable” in his speech, and there is agreement across party lines that he is trying to do what he said he’d do during the campaign.

POTUSSpeechPublicMediaMarketsApplaudcreditNewYorkTimes-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: NY Times.

During the speech, commentators, along with the Daily Business News, noticed the divide amongst the Democratic and Republic sides of the chamber. While this is usually standard fare, it should be noted that even in the moments where the President spoke about unity across party lines, that only a handful of Democratic representatives acknowledged the need.

 

 

The Markets Respond 

According to CNBC, President Trump’s speech hit a cord with the markets, as U.S. equities surged to all-time highs yesterday, with the Dow, S&P 500 and NASDAQ all posting their best days of the year.

POTUSSpeechPublicMediaMarketsApplaudcreditGettyImages-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Getty Images.

The major positive from the speech is he delivered on his ‘America first’ message, but he did so in a positive and uniting way,” said Zhiwei Ren, portfolio manager at Penn Mutual Asset Management.

If his message of ‘America first’ can succeed, this could be positive for the economy” in the near term.

The Dow finished the day up 303 points, with the NASDAQ, S&P 500 and Russell 2K index, and indicator of small and mid cap stocks, all gaining over one percent.

The speech’s tone has gone a long way for the market,” said Quincy Krosby, market strategist at Prudential Financial.

It assuaged fears that his agenda was not going to be able to be passed.

 

The MH Industry

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Credit: MHProNews. Click here for Kovach’s full letter.

As Daily Business News readers are aware, a growing economy and more jobs, less regulations, and proposed changes to Dodd-Frank and the Consumer Financial Protection Bureau (CFPB), are all reasons for Industry Optimism with respect to President Trump.

The Trump Administration has made it absolutely clear that one of its key priorities will be to reduce baseless regulatory burdens on American businesses that needlessly increase the cost of American products and undermine job creation,said MHARR President and CEO M. Mark Weiss.

Dr. Ben Carson, whose up/down vote as HUD Secretary is expected within the next few days, has been warmly greeted by MHARR, MHI and MHProNews, as a leader who grasps the manufactured housing industry’s importance to the realization of the American Dream.

I do see manufactured housing playing an important role in providing affordable housing in rural areas. I think it’s important to ensure HUD’s policies promote access to this valuable resource,” said Carson.

MHProNews and MHLivingNews publisher L.A. “Tony” Kovach penned an open letter to Dr. Carson, which is linked here.

For more responses from MH industry professionals on the election of President Trump, 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.

FEMA Disaster Relief Deadline Extended in Louisiana

October 17th, 2016 Comments off
Louisiana Flood damage, August 2016. Credit: BBC

Louisiana Flood damage, August 2016. Credit: BBC

According to a report from KATC TV, the deadline to apply for Federal Emergency Management Administration (FEMA) disaster benefits in the wake of the floods in Louisiana has been extended to November 14th.

Credit: Twitter.

Credit: Twitter.

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Credit: FEMA.

60 days after the historic flooding, FEMA provided updated statistics revealing that an estimated seven trillion gallons of rainwater was dumped across southern Louisiana from the August storms. That is more than four times the amount of water in Lake Pontchatrain, according to KATC.

As Daily Business News readers are aware, we have provided extensive coverage of the storm, the fallout from it and the MH industry response.

More than 150,000 individuals and families have registered for FEMA disaster assistance to date. Survivors can register with FEMA by going online, calling the FEMA helpline at 800-621-3362, or downloading the FEMA mobile app.

Over $695 million in disaster assistance has been provided by FEMA, with $559 million of that being housing assistance to help flood survivors with temporary housing solutions and rebuilding of their home.

To date, 448 applicants have been reportedly licensed into manufactured housing units.

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Credit: The Atlantic, Floodlist, CBS News.

As the Daily Business News reported last week, FEMA issued a formal solicitation for “off the lot” manufactured homes.

The concern for FEMA in seeking manufactured homes from retailers is that manufactured homes being produced by FEMA contractors may not be finished in time to meet the current demand in Louisiana and the potential need in multiple states due to Hurricane Matthew. ##

(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.

 

CBS News’ Ilyce Glink gives Manufactured Housing vs. old houses the gift of Comparison

October 13th, 2014 Comments off

cbsnews-$27000-jacksonville-fl-major-fixer-upper-$25900phoenix-az-nice-double-sectional350x122Award-winning, nationally syndicated columnist, Ilyce R. Glink, writing for CBS News, provided home buyers in general – and manufactured housing shoppers and professionals in specific – with a gift. Glink tells MHProNews  that finding affordable living options is difficult, but doable. Glink advised buyers not to “run away when you see a $25,000 price tag on a house. But proceed with caution.”

Glink’s survey shows 10 houses available for sale in as many cities/markets, all within a given $30.000 budget. 2 of those are manufactured homes (MH), and compared to the conventional houses which are in rough condition, in reportedly dangerous neighborhoods or a combination of problematic factors, the MHs look good.

Glink notes that the home shown in the photo at the right has to have factored in the leased lot price – it’s in a nice manufactured home community – and states the home is appealing; especially by comparison.  The blue house on the left is $27,000 and needs major repairs in Jacksonville, FL, while the “double wide” – more properly called today a multi-sectional – is ready to live in for $25,900 in Phoenix, AZ.

As MH industry veterans know, $30,000 would buy a new entry level (‘shade and shelter’) manufactured home of about 900 square feet in MHCs in many parts of the country, and would still meet all of the new federal construction and safety standards required. Since Glink’s report for CBS was focused on pre-owned homes, one ought to give their journalist good marks for a fair and balanced report. ##

(Photo collage credit: CBS News)

(Article submitted by Lucine Colignon to Daily Business News – MHProNews)