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Posts Tagged ‘Cleveland’

City Residents Make Unexpected Moves – Opportunity for MH?

March 31st, 2017 Comments off
CityResidentsMakeUnexpectedMovesOpportunityforMHcreditForbes-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Forbes.

New data shows an interesting trend – popular cities like New York, Los Angeles, and Washington D.C., normally destinations for living, are actually losing people in mass.

According to a study by Bloomberg, in the 100 most populous U.S. metros, the New York City area ranked 2nd, losing about a net 163,000 residents, Honolulu came in fourth, and Los Angeles came in at 14th.

These areas also have the distinction of having some of the highest inflows of people coming in from outside the country, which has a net result showing a steadily growing population, despite people leaving.

I have an idea of what’s going on here,” said Michael Stoll, a professor of public policy and urban planning at the University of California Los Angeles.

Soaring home prices are pushing local residents out and scaring away potential new ones from other parts of the country.

And, when those people leave, most often those who move in from abroad fill vacant low skilled jobs. How? Stoll has an idea about that as well.

They are able to do so by living in ‘creative housing arrangements,’” said Stoll.

They pack six to eight individuals, or two to four families, into one apartment or home. It’s an arrangement that most Americans just aren’t willing to pursue, and even many immigrants decide it’s not for them as time goes by.”

High skilled foreign workers coming into the country, specifically in the technology industry, they earn enough to live in high cost areas.

They are compensated appropriately and can afford to live in these high-cost areas, just like Americans who hold similar positions,” said Stoll.

One example is Washington, D.C., which had a lot of people from abroad arriving to soak up jobs in the growing tech-hub.

CityResidentsMakeUnexpectedMovesOpportunityforMHcreditBloomberg-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Bloomberg.

Rust belt cities like Cleveland, Dayton and Toledo, didn’t fare so well.

Even though the cost of living is low, the cities did not get the same influx of people that the other major cities did, which potentially shows that locals were leaving for lack of jobs.

This is part of a multiple-decade trend of the U.S. population moving away from these manufacturing hubs to areas in the Sun Belt and the Pacific Northwest,” said Stoll.

Retiring baby boomers are also leaving the Northeast and migrating to more affordable places with better climates.

 

Opportunity for Manufactured Housing?

Credit: Yahoo.

Many of those retirees have chosen a familiar location.

According to the Census Bureau, The Villages, Florida, was the nation’s fastest-growing metro area for the fourth year in a row, with a 4.3 percent population increase between 2015 and 2016.” The Villages includes a significant amount of manufactured home communities.

The Daily Business NewsMHProNews and MHLivingNews have covered the case for manufactured housing as a viable solution to hope for the American Dream of home ownership at a reasonable price extensively, including Bloomberg making a statement to the same effect.

The myths, and the facts surrounding manufactured housing abound. To learn more, including why manufactured housing is the solution hiding in plain sight for many to achieve the American Dream, 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.

Local and State Regulations cover Tiny Homes, not HUD

April 8th, 2016 Comments off

tiny_house__jennifer_baxter__charlotte_observer__creditA proposed federal regulatory change could conceivably prevent tiny-home dwellers from living in their homes, which they say is an example of the government telling them how they can live, reports cleveland to MHProNews. As of last week, HUD had received 4,000 letters from angry supporters of the homes, which are usually around 200 square feet and mostly towable.

At issue is a regulation differentiating camping RVs from manufactured homes (MH).The construction of MH is under federal guidelines , while the regulations governing the building of RVs conforms to industry standards. Until now, anything smaller than 400 square feet could not be considered a home and therefore did not have to adhere to HUD standards, which MH does. Tiny homes have thus been exempt from HUD oversight.

The problem stems from some RVs being marketed as year-round homes, and travel trailers can open up with side walls and become larger than 400 sq. ft. If they are considered homes, should they be compliant with HUD Code regulations covering MH? The RV industry is not interested in being under HUD rules.

The proposed regulation would make the distinction between camping and a permanent residence, and require that stickers be placed on the unit identifying it as only for recreational use, not as a permanent residence.

While HUD will maintain its exemption of tiny homes because they are under 400 sq. ft., tiny homeowners are concerned a sticker on their home identifying it as a recreation vehicle could keep the home from being sited in a manufactured home community (MHC), or elsewhere, making them outcasts and lawbreakers, even on their own property.

However, Matt Wald, an executive with the Recreation Vehicle Industry Association (RVIA), said, “Use and what you can do with it is regulated at the state and local level, not by HUD.” It is about local zoning.

Dan Louche, founder of Florida’s Tiny Home Builders, agrees that the new rule will have little effect on those living in tiny homes. “There are thousands of people living in tiny houses, but the reality is that in the vast majority of cases in the United States, they are considered illegal,” he said. ##

(Photo credit: charlotteobserver/Jennifer Baxter–Tiny Home)

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Manufactured Home Community has Right to Re-rent Homesites

May 16th, 2015 Comments off

mfg home  credit mhpronewsThe Mississippi Supreme Court upheld an appeal’s court ruling which gives the Cleveland Mobile Home Park in Richland, MS the right to re-rent vacated homesites in the manufactured home community (MHC). The city of Richland wanted to reduce density in the MHC, arguing homesite re-use was non-conforming and therefore in violation of the city’s ordinance.

The Court ruled Richland’s zoning law was “arbitrary and capricious” and violated Cleveland’s “constitutional right to enjoy its property.” The Madison-Rankin Circuit Court had ruled in Richland’s favor, as msbusiness informs MHProNews.

The owners of Cleveland appealed that ruling, saying that re-filling a vacancy was continuation of an established use, not expansion of a non-conforming use. The Mississippi Manufactured Housing Association (MMHA) said upholding Richland’s zoning law interpretation would have “devastating effects on manufactured-housing parks across Mississippi.

Noting the government cannot manufacture a zoning violation by changing the rules, Attorney Ben Williams, who was involved in challenging Richland’s ordinance, said, “Citing both the Mississippi Constitution and the U.S. Constitution, the Mississippi Supreme Court reiterated its 1923 opinion that a citizen’s ‘lawful use of his property is one of the most sacred rights reserved to him under our Constitution.”’ ##

(Photo credit: MHProNews-manufactured home)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

All-cash Home Sales Fall Nationally, Save Several Metros

August 19th, 2014 Comments off

pending sale  paul sakuma  AP Photo creditAccording to RealtyTrac, all-cash deals comprised 38 percent of all home sales in the second quarter of 2014, a drop from 42 percent in Q1 2014, as institutional buyers—those buying at least ten homes annually—are finding good deals drying up. They accounted for 4.7 percent of all home sales, a drop from six percent in 2013, as CNNMoney reports. The good news is that as institutional buyers leave the market, there is more room for first-time homebuyers. But with home prices up over 20 percent from 2012 historic lows, the bad news is first-timers may already be priced out of the market. MHProNews has learned over 50 percent of all home sales in Las Vegas are for cash, and the percentage is only slightly lower in Detroit, Kansas City, Philadelphia, Cleveland and New York. In the Miami metro area cash sales comprised 64 percent of all home sales. ##

(Photo credit: Paul Sakuma/Associated Press)

Fed Reports Increased Real Estate Activity

February 29th, 2012 Comments off

Construction Site in Dallas, Eric Miller PhotoReports from the twelve Federal Reserve Districts suggest that overall economic activity continued to increase at a modest to moderate pace in January and early February. The Fed reports manufacturing continued to expand at a steady pace across the nation, with many districts reporting increases in new orders, shipments, or production and several districts indicating gains in capital spending, especially in auto-related industries. Activity in nonfinancial services industries remained stable or increased. Reports of consumer spending were generally positive, except for sales of seasonal items. Residential real estate market conditions improved somewhat in most districts, with several reports of increased home sales and some reports of increased construction. Residential real estate activity increased modestly in most Districts. Boston, Cleveland, Richmond, Atlanta, Kansas City, and Dallas reported growth in home sales, while New York noted steady to slightly softer home sales. Philadelphia reported strong residential real estate activity. In contrast, home sales declined in St. Louis and San Francisco noted that home demand persisted at low levels. Boston, Atlanta, Chicago, Minneapolis, Dallas, and San Francisco reported increased multifamily construction activity. Banking conditions generally improved across the districts. Of the districts reporting on hiring, most indicated a slight increase. Prices of final goods and services were relatively stable in most districts.

(Image Credit: Eric Miller)

S&P Shows Home Prices Still Declining

December 27th, 2011 Comments off

S & P Chart Dec 27Data released today by S&P/Case-Shiller Home Price Indices show decreases of 1.1 percent and 1.2 percent for the 10- and 20-City Composites in October vs. September. Nineteen of the 20 cities covered by the indices also saw home prices decrease over the month. The 10- and 20-City Composites posted annual returns of -3.0 percent and -3.4 percent versus October 2010, respectively. Fourteen of the 20 MSAs and both Composites saw improved annual returns compared to September’s data. Miami saw no change in annual returns in October; while Atlanta, Detroit, Las Vegas, Los Angeles and Minneapolis saw their annual rates worsen. At -11.7 percent Atlanta posted the lowest annual return. Detroit and Washington DC were the only two cities to post positive annual returns of +2.5 percent and +1.3 percent, respectively. “Atlanta and the Midwest are regions that really stand out in terms of recent relative weakness,” says David M. Blitzer, Chairman of the Index Committee at S&P Indices. Atlanta was down 5.0 percent over the month, after having fallen by 5.9 percent in September. It also has the weakest annual return, down 11.7 percent. Chicago, Cleveland, Detroit and Minneapolis all posted monthly declines of 1.0 percent or more in October. These markets were some of the strongest during the spring/summer buying season. However, Detroit is the healthiest when viewed on an annual basis. It is up 2.5 percent versus October 2010. Atlanta, Cleveland, Detroit and Las Vegas are four markets where average prices are below their January 2000 levels; and Atlanta and Las Vegas posted new lows in October.

(Image Credit: S&P/Case-Shiller)

Study Shows Ohio Cities Hit Hard by Housing Crisis

May 10th, 2011 Comments off

HousingWire reports the three largest cities in Ohio – Cleveland, Cincinnati, and Columbus – accounted for 45,000 foreclosures since 2009.  A national network of community organizations, National People’s Action (NPA), in a survey of foreclosed properties over a 27 month period, determined that each foreclosure in the Buckeye state brought down the value of homes within a 500 feet radius by .74 percent, creating a loss of $1.6 billion in home values.  NPA estimates the costs to local governments to maintain foreclosed homes, especially vacant ones, will add up to $5.5 billion from 2009 to 2012, and at a cost of $30 million in lost tax revenue.  The report says almost one in every ten homes received a foreclosure notice since 2007.