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Posts Tagged ‘CoreLogic’

Senate Democrat Specifically Urges Broader Manufactured Housing Lending, Bipartisan Approach to GSE Reform

June 23rd, 2019 Comments off

 

SenateDemocratSpecificallyUrgesBroaderManufacturedHousingLendingBipartisanApproachGSEReformMHProNews

Freshman Senator Tina Smith (MN-D) is drawing attention to the lack of implementation under the Housing and Economic Recovery Act of 2008 (HERA) that established the federally mandated Duty to Serve (DTS) for manufactured housing.

 

Her letter to Republican and Democratic leaders of the powerful Senate Housing, Banking, and Urban Affairs Committee is covered in a new report, linked below on MHLivingNews.

The timing is noteworthy. Why? Because the Manufactured Housing Association for Regulatory Reform (MHARR) has recently been calling for Congressional investigations into what they say is the flawed roll-out of DTS by Fannie Mae and Freddie Mac. That too is linked below in our Sunday morning weekly news recap.

There are also insider insights from Cavco Industries regarding their legal woes.  That hot-linked headline is found further below on the Daily Business News on MHProNews.

That’s just for starters. There is the Havenpark’s controversy. Deprecation debate. Cavco, Carson, campaigns, CoreLogic, plus more are all below. 

 

 

Toot the Horn

There is demonstrably no manufactured housing-focused Industry News, Tips, and Views Pros Can Use” © that is larger, more diverse, robust, or better-read in MHVille than this publication. Nothing else even comes close.

Perhaps that’s why early next week, insider insights at HUD will reveal exclusively on MHProNews a serious scandal that involves manufactured housing.  

Stay tuned for that and more.

 

Small Industry, Big Potential, The Most…

As some U.S. Senators and members of Congress are beginning to grasp, the industry is only performing at about ¼ of the level that it did some 20 years ago. In 1998, production topped 372,000 new manufactured home shipments. So why – during a growing affordable housing crisis that many in Congress, the Trump Administration, and others want to see addressed – is manufactured housing underperforming?

For the last 8 months, year-over-year new manufactured home shipments are in decline. What? During an affordable housing crisis?

The Manufactured Housing Institute (MHI) has dryly reported the facts of that decline, but they seem tone-deaf as to any explanation for that decline.  As evidence of how tone-deaf they are, they speak about ‘momentum’ and have used a slogan, ‘let’s keep building.’ Seriously?

Our industry is demonstrably smaller than it was 15 or 20 years ago. There are thousands of fewer retailers. There are thousands of fewer communities. There are fewer builders of HUD Code manufactured housing. Several of the companies whose names endured – Champion or Fleetwood, to name but two – companies that were giants 20 years ago went into bankruptcy in the first decade of the 21st century. What exists today are essentially new entities under an older brand name. What caused longtime successful firms to tip into bankruptcy? Doesn’t that bear scrutiny?

 

 

BloombergShipmentProductionGraphicManufacturedHousingIndustryDailyBusinessNewsMHProNews

April 2019 data reflects month 8th of the downturn, with nary a whimper from MHI or the big boys. Why? 

These are the snapshots of reality that others in MHVille trade media – much less MHI – bother addressing. Why?

But the kinds of reports that you find here are the reason that this is by far the largest and most read “Industry News, Tips, and Views Pros Can Use” © site in all of manufactured housing trade media.  Others may make bold – even demonstrably outlandish claims.  They may produce slick magazines, but those slick covers sit on the racks, because they are not picked up. Why? Apparently not many want to read phony sunshine stories?

 

MHInsiderDailyBusinessNewsMHProNewsTunicaShow2019Day2

A photo of another rack at Tunica appears almost untouched. The industry’s pros, given a choice between fluff and reality often chose the real deal, found only at MHProNews.

From the largest firms, to the mid-sized, or ‘mom-and-pops,’ the pros in manufactured housing are on our pages daily by the thousands. There are those who cheer what they read here, because almost no one else is exposing what MHProNews is willing to cover with facts, evidence, and follow-the-money-trail published here. Then there are those who are bothered by what they read or those who are just trying to figure out why manufactured housing is underperforming so badly – they are all among those who read here.  Investors and nonprofits read here too. Among the 1.2 million-page views monthly, per third party tracking, third-party software tells us that thousands of hits on our site come from federal officials who are on our site every month.

Those who want to know and understand, come here.

To stay in the know in order to grow, you too can become a part of the most engaged professional audience in MHVille history.  To sign up in seconds for our twice weekly emailed headline news updates, click here or the graphic below.

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To see a sample of our emailed news update, click here. To sign up for the factory-built home industry’s #1 headline news, click here or the graphic above.

There is no more goal- and solution-oriented trade media in all of manufactured housing than this site. While toadies kiss the derrière of the Omaha-Knoxville-Arlington axis, we dare pull back the curtain and show the evidence, money trail, and concerns others try to ignore or obscure. 

 

Per Third Parties, Billions of Dollars in Potential Growth for Factory-Builders

What is the goal here on MHProNews?

As true believers and often praised experts in the industry, we know firsthand that sustainable growth is possible because we’ve worked professionally with firms that have achieved profitable growth. The evidence reflects that far more could be done.  Tens of billions of dollars in additional manufactured housing production at retail is attainable.

That requires understanding of the obstacles and the opportunities.

Who says there is that kind of growth potential? How about one of the most valuable conglomerates in the world’s investment unit? In part of a 2018 statement when they invested in Plant Prefab, Amazon’s Alexa Fund pegged the opportunity for new housing at $300 billion a year.

If only a quarter of that $300 billion-dollar annual potential were earned by Manufactured Housing, that would represent about a nine fold increase in dollar volume over 2018.

Given the potential of manufactured housing, it’s a disgrace that the Omaha-Knoxville-Arlington axis is so focused upon hobbling our industry and posturing instead of doing what’s necessary to improve measurable performance.  The evidence arguably reflects they seek to foster consolidation and ‘taking out’ honest independents to the extent that they are letting tens of billions of dollars annually slip through the fingers of investors and professionals,” said publisher L. A. ‘Tony’ Kovach.  

Experts and politicos across the left-right spectrum are increasingly expressing alarm over the monopolization of several sectors of American businesses and professions. Is it a surprise that it is happening in manufactured housing too?

But how some of this is occurring in MHVille may be somewhat different.

Never forget that Kevin Clayton said on video that it would be okay with ‘Warren’ if Clayton Homes lost money for 5 years, so long as they expanded their Moat. While roughly 100 of their retail locations have lost money.  But they aren’t losing money overall, and they are expanding their Moat. Clayton and their allies are earning and slowly consolidating at the same time. Literally thousands of industry independents have been steadily vanishing during an affordable housing crisis. Coincidence?” – asked Kovach, a long-time MH industry veteran. 

What’s happened in manufactured housing is a largely misunderstood tragedy, because too many others in the manufactured home industry’s trade media largely overlook or spin it. MHI gives the ‘big boys’ cover, so that purported corrupt behavior in turn harms the affordable housing seeking public, millions of whom could purchase a new manufactured home for less than they pay in rent,” Kovach said. “This pattern of behavior within the industry has drawn a number of critics from inside the industry’s ranks. It cries out for Congress to publicly investigate this slow-rolling tragedy, its impact on business, millions of Americans, and taxpayers.”

The stories that follow reflect what sparks such comments. 

With no further adieu, here are the headlines for the week that was from 6.16.2019 to 6.23.2019

 

What’s New on MHLivingNews

 Senator Tina Smith Urges Republican, Democratic Senators to Provide Greater Financing Access to Affordable Manufactured Homes

 

What’s New from Washington, D.C. from MHARR

MHARRReiteratesCallForCongressionalDTSInvestigationManufacturedHousingAssocRegulatoryReformLogoMHProNews

 

 

What’s New on the Daily Business News on MHProNews

11DailyBusinessNewsMHProNewsLogos

 

Saturday 6.22.2019

·        Fighting Fear With Facts, Pushing Back About Depreciation, Manufactured Home Concerns

Fighting Fear With Facts, Pushing Back About Depreciation, Manufactured Home Concerns

 

Friday 6.21.2019

·        Havenpark Capital Management Responds to Senator Elizabeth Warren, Congressman Dave Loebsack

Havenpark Capital Management Responds to Senator Elizabeth Warren, Congressman Dave Loebsack

·        Drone Downed, U.S. Counter Paused, American Oil Refinery Blast, Social Media Raises Concerns – Plus, Manufactured Home Stock Updates

·        News Tip – Cavco Industries Legal Woes with SEC, Insider Insights

News Tip – Cavco Industries Legal Woes with SEC, Insider Insights

·        Amidst Controversy, CoreLogic’s Special Report on Investor Home Buying Trends

Amidst Controversy, CoreLogic’s Special Report on Investor Home Buying Trends

 

Thursday 6.20.2019

·        New HUD Videos of Secretary Ben Carson, Innovative Housing Showcase 2019, Surprising Manufactured Housing Institute Reveals

New HUD Videos of Secretary Ben Carson, Innovative Housing Showcase 2019, Surprising Manufactured Housing Institute Reveals

·        Iran Downs US Drone, Why Didn’t Oil Jump Higher? Plus Manufactured Housing Stock Updates

·        Panicking Manufactured Home Community Residents Turning to Rent Control Demands

Panicking Manufactured Home Community Residents Turning to Rent Control Demands

·        Life-Saving Effort, Call to Celebrate Manufactured Housing’s Professional Installers

Life-Saving Effort, Call to Celebrate Manufactured Housing’s Professional Installers

 

Wednesday 6.19.2019

·        MH Community Leader Robert Van Cleef – Public Call – Federal Investigations of Berkshire Hathaway, Clayton Homes, 21st Mortgage, Manufactured Housing Institute

MH Community Leader Robert Van Cleef – Public Call – Federal Investigations of Berkshire Hathaway, Clayton Homes, 21st Mortgage, Manufactured Housing Institute

·        Democrats React to Former VP, ‘They’ll Eat Joe Biden Alive,’ Plus Manufactured Housing Market Updates

·        Rising Star – U.S. Senator Tina Smith Pressing Manufactured Housing Regulatory, Legislative Issues

Rising Star – U.S. Senator Tina Smith Pressing Manufactured Housing Regulatory, Legislative Issues

·        Democrats, Independents, Elephant in the Room, Third Parties, 2020 Kickoff, and Manufactured Housing

Democrats, Independents, Elephant in the Room, Third Parties, 2020 Kickoff, and Manufactured Housing

 

Tuesday 6.18.2019

·        What Congressional Representatives, Senators, and Industry Professionals Should Be Asking About Duty to Serve Manufactured Housing

What Congressional Representatives, Senators, and Industry Professionals Should Be Asking About Duty to Serve Manufactured Housing

·        EQUITY ALERT: Levi & Korsinsky – Investigation Possible Fraud by Certain Officers and Directors of Cavco Industries, plus MH Stock Updates

EQUITY ALERT: Levi & Korsinsky – Investigation Possible Fraud by Certain Officers and Directors of Cavco Industries, plus MH Stock Updates

·        Views From Trenches of Manufactured Housing – Factories, Retailers, MHCs, Others Sound Off

Views From Trenches of Manufactured Housing – Factories, Retailers, MHCs, Others Sound Off

·        Real World Economics’ Professor Ed Lotterman says “Playing Monopoly is More Than Just Rolling the Dice”

Real World Economics’ Professor Ed Lotterman says “Playing Monopoly is More Than Just Rolling the Dice”

 

Monday 6.17.2019

·        Sextortion, Business, Investing, FBI Reports Scam Rising, plus Manufactured Home Stock Updates

Sextortion, Business, Investing, FBI Reports Scam Rising, plus Manufactured Home Stock Updates

·        Democrats? Republicans? Political Campaigns Manufactured Housing Institute (MHI) PAC Supported

Democrats? Republicans? Political Campaigns Manufactured Housing Institute (MHI) PAC Supported

·        Insights on Manufactured Housing From Obama White House Federal Archives

Insights on Manufactured Housing From Obama White House Federal Archives

·        “Color and Depth,” “Sad,” “Raising Standards,” and Manufactured Housing

“Color and Depth,” “Sad,” “Raising Standards,” and Manufactured Housing

 

Sunday 6.16.2019

·        Father’s Day, ‘Making America America Again’

Father’s Day, ‘Making America America Again’

That’s a wrap on this edition of manufactured home “Industry News, Tips, and Views Pros Can Use,” © where “We Provide, You Decide.” ©. ## (Headline news, weekly recap, fact-checks, analysis, and commentary.)

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsNOTICE: You can get our ‘read-hot’ industry-leading emailed headline news updates, at this link here. Connect on LinkedIn here.(Related Reports are further below. Third-party images and content are provided under fair use guidelines.) 

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Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

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Shocking, True State of the Manufactured Housing Industry, plus Solutions for Profitable, Sustainable Growth – May 2019

 

 

 

 

 

Amidst Controversy, CoreLogic’s Special Report on Investor Home Buying Trends

June 21st, 2019 Comments off

 

AmidstControversyRalphMcLaughlinCoreLogicSpecialReportInvestorHomeBuyingTrendsDailyBusinessNewsMHProNews

What follows is a scenario that sheds light on affordable housing – and thus impacts manufactured home professionals and the home buying public – in several ways.

 

There may be absolutely no connection to the fact that CoreLogic, which received a letter related to an antitrust probe by the Department of Justice, per Inman and the Real Deal, has just published a new special report on investor home buying trends.

 

Posted on the CoreLogic blog on 6.20.2019 by the firm’s Deputy Chief Economist, Ralph McLaughlin, is a report styled a “deep dive into investor homebuying activity” – some 1250 words plus graphics – for the year 2018. DSNews and Newsmax are among the sources that have reported on this study.

 

RalphMcLaughlinPhotoDeputyChiefEconomistCoreLogicDailyBusinessNewsMHProNews

 

McLaughlin says that “By the end of 2018, the investment rate in the U.S. housing market reached 11.3% – the highest rate since CoreLogic started tracking these data in 1999. The investment purchase rate in 2017 was the second highest on record at 11%, which was above the investor buying fury of 2012 – 2014 when purchase rates reached 10.3% – 10.9%.”

 

USInvestorHomebuyingRatesCoreLogicGraphicChartDataDailyBusinessNewsMProNews

To begin to properly understand the manufactured home industry, one must grasp the larger housing market, macrotrends, and the elephants in the room.

 

Smaller investors are responsible for increasing investor homebuying activity. This is in sharp contrast to the rise in large institutional investors in the years following the recession,” per CoreLogic.These so-called “mom-and-pop” investors grew from 48% of all investor-purchased homes in 2013 to more than 60% in 2018. Large investors – those who purchased more than 101 homes – nearly doubled their activity between 2000 and 2013 but have pulled back since the foreclosure crisis and now sit at 15.8% of purchases. Medium-sized investors – those who purchased between 11 and 100 homes – have also seen their share steadily fall, from a peak of 30% in 2010 to 22.7% in 2018.”

 

CorelogicUShomebuyingRatesByInvestorSizeManufacturedHousingIndustryDailyBusinessNewsMHProNews

While purported data from the Manufactured Housing Institute has at times been arguably  tilted to favor certain member firms, there is no known claims against CoreLogic for rigging their data findings.

 

We also found investor purchase rates were much higher among starter-homes. The share of starter homes purchased by investors peaked at over one-in-five homes over the past two years, with a rate of 20.3% in both 2017 and 2018,” wrote McLaughlin.

 

ChartGraphicDataThreeCoreLogicUSInvestmentsByHomePriceCategoriesStarterMoveUpHighEndManufacturedHousingMHProNews

 

That factoid clearly has significance to manufactured home sellers, investors, and affordable housing professionals.  More to the point, given the law of supply and demand, it is part of the reason why ‘starter homes’ are harder to come by for first-time and other affordable housing seekers.

CoreLogic, in their report linked here, also noted that “While there are several plausible explanations, we found investors are attracted to markets where rents are relatively high compared to purchase prices.”

That point coincides with issues that MHLivingNews and MHProNews have previously reported – spotlighted in part by the viral Seattle is Dying video, found in the analysis and report linked from the text-image box below.

 

A bottom-line takeaway from CoreLogic’s research? “…it’s a truism that homebuyers today are more likely to cross paths with investors during an open house than at any other time in the past two decades.” There full report is found linked here.

 

Hurdles, Headaches, and Challenging Opportunities

These facts and trends reflect problems and hurdles for millions.  But it is also an opportunity in disguise for the industry and its professionals, if…

 

 

…but only if, the kinds of problematic behavior that has been previously outlined by MHProNews and our sister site, MHLivingNews, are avoided or managed.  Two examples are linked above and below.

 

SmokingGunEvidenceOfAntiTrustMonopolisticCollusionMoatClaytonHomesKevinClayton21stMortgageTimWilliamsWarrenBuffettMHLivingNewsMHProNews

In a series of direct quotes in context, a document from 21st Mortgage signed by Tim Williams, and video recorded comments by Kevin Clayton, these all line up to demonstrate how independent retailers, communities, and producers – among others – where purportedly harmed by action that could be deemed an antitrust violation. Why hasn’t Allen told his readers how that cost them money? https://www.manufacturedhomelivingnews.com/bridging-gap-affordable-housing-solution-yields-higher-pay-more-wealth-but-corrupt-rigged-billionaires-moat-is-barrier/

 

These facts and trends also reflect a need for public officials to act to enforce the law on enhanced preemption, the Duty to Serve manufactured housing, and other laws already on the books that could transition millions from renting into a life of greater opportunity and wealth-creation through home ownership.

See our most recent report, linked below the bylines and notices.

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SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

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New HUD Videos of Secretary Ben Carson, Innovative Housing Showcase 2019, Surprising Manufactured Housing Institute Reveals

MH Community Leader Robert Van Cleef – Public Call – Federal Investigations of Berkshire Hathaway, Clayton Homes, 21st Mortgage, Manufactured Housing Institute

 

Declining Manufactured Home Shipments More Serious Than Retailers, Communities Being Told

“Game On” – “Fighting Discriminatory Zoning” “Moral Obligation” Fix “Worsening Nightmare” – State Associations Entering Spotlight

Dueling Statements, NAMHCO, MHI, MHARR, Weigh In On Controversial MH Bill, “George Allen Pawn Gambit”

MHARRCallsHUDSecretaryCarsonEndDiscriminatoryZoningHUDRegulatedManufacturedHomesCommodoreHomesCorpMHARR

Photo of Commodore Homes model, MHARR logo, are provided under fair use guidelines. See article and letter to Secretary Carson, linked here. https://manufacturedhousingassociationregulatoryreform.org/mharr-calls-on-hud-secretary-to-end-discriminatory-and-exclusionary-zoning-of-hud-regulated-manufactured-homes/

 

 

 

 

 

Housing Economists Projections from NAHB, CoreLogic, Nationwide, and MHVille

February 27th, 2019 Comments off

 

HousingEconomistsProjectionsFromNAHBCoreLogicNationwideandMHVilleManufacturedHousingDailyBusinessNewsMHProNews

There has been scuttlebutt among talking heads in media about a looming recession for months.  People with the ‘right’ credentials are asked, and they soberly express their opinions – which they are entitled to – as to why they think that a recession is looming.  MHProNews has pushed back against that claim editorially, but the question remains, are those sources that warn of recession right or wrong?

 

Depending on the reporter or anchor involved in such an interviews with ‘experts,’ there may or may not be an obvious follow up question to their claims of a looming recession in the U.S.  The media follow up question should go something like this: ‘Given how strong the economy is now, based upon a raft of largely positive economic data, how is it possible that a recession would hit the U.S. so quickly?’

Just a few bullets.

 

1)    A record number of Americans are at work.

2)    Consumer confidence is near record highs.

3)    Small business confidence is also near historic records.

4)    A record number of jobs are open in the U.S.

5)    The Federal Reserve data, plus other economic indicators, suggest that for the foreseeable term, the economy has no apparent risk of recession, barring an unexpected cataclysm of some kind.

 

With those points in mind, let’s turn to a recent report by the OC Register, which interviewed various officials at a recent builders conference.  Their headline reads “Recession Not Likely Before 2021, Housing Economists Say.”

At a recent National Association of Home Builders (NAHB) conference 3 economists weighed in on this specific topic of an alleged looming recession, says the OC Register.  The bullets below are from their recent report.

  • This expansion will come to an end,” said David Berson, chief economist for Nationwide Insurance. But, he added, “the odds of a downturn in the next year are pretty low.”
  • Berson said the next recession probably won’t begin until late 2021 or 2022.
  • Frank Nothaft, chief economist for Irvine-based real estate data firm CoreLogic, said the risk of a possible recession likely will be high toward the end of 2020 and even higher in 2021 — after the next presidential inauguration.
  • After going up 3 percent in 2018, the NAHB predicts single-family home starts will increase 2 percent this year and an additional 4 percent to 928,000 detached houses in 2020.
  • The slowdown in immigration and the weakness in recruiting young Americans to the construction sector has contributed to a labor shortage that persists and continues,” the NAHB’s Dietz said. “Right now … we’re short more than 300,000 construction workers in the U.S.”
  • I think affordability is going to be the key issue (in how) housing advocates view the housing market in 2019,” Dietz said.

These bullets and factoids ought to spell boom times for manufactured housing.  So why is the industry struggling to achieve a mere 100,000 new homes?

Since the Manufactured Housing Institute (MHI) claims to represent all segments of factory-built housing, do they bear any accountability for the poor results?

How does one explain the bonuses paid to top MHI staffers, give the association’s failure to achieve the 500,000 new home shipments that President and CEO, Richard ‘Dick’ Jennison said could be achieved?

 

 

Road Blocks are Post-Production Ones, Says MHARR

The Manufactured Housing Association for Regulatory Reform (MHARR) routinely cites facts – confirmed by third-party, and HUD research, that HUD Code manufactured housing builders are producing the industry’s best homes ever.  The problems, says MHARR, are coming from the post-production sector.

The issues including zoning and placement issues.

A new report, shown from the linked text-image box below, reflects a publicly undisputed troubling fact.  MHI on several test checks made in recent years by MHProNews has not contacted – much less intervened – several of the zoning and placement challenges that are increasingly impacting manufactured housing.

Why not?

The key phrase from a longer message by an MHI member-affiliate attorney told MHProNews on 2.25.2019, the following, “…For Clearlake [CA] however as a government entity, it should not have different standards for MH than stickbuilt for its code, since the whole idea of federal HUD preemption is to prevent unreasonable discrimination in land use and building standard decisions respecting manufactured housing.”

That report is the first of several related topics that are linked below the bylines and notices.

That’s manufactured housing “Industry News, Tips, and Views Pros Can Use,” © where “We Provide, You Decide.” © ## (News, analysis, commentary.)

 

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Dramatic Reversal, City Passes Urgency Ordinance Effectively Banning Manufactured Homes, Front & Back Stories

Mobile Home Burns, Woman Dies, Details At Ten – Back Story of Mobile Home Fires, Regulatory Facts

 

Democrats, Republicans Agree – “Manufactured Homes Can Play a Vital Role in Easing” the Affordable Housing Shortage

“Washington Post Article Underscores Clear Need for An Independent Post-Production Association”

MHARR Releases Study Recommending Independent Collective Representation for Post-Production Sector

HUD Code Manufactured Home Production Decline Persists – Time For Action Not Excuses

“The Illusion of Motion Versus Real-World Challenges”

 

 

 

 

 

 

 

 

Lower Priced Homes Increase Most, Per Latest Housing Data from CoreLogic

February 6th, 2019 Comments off

LowerPricedHomesIncreaseMostCoreLogicFeb2019DailyBusinessNewsMHProNews

A new report by CoreLogic revealed a perhaps surprising find to some.  Higher priced homes gained in value the least, while the lowest priced tier of homes gained in value the most in their tracked period.

 

Some bullets from CoreLogic:

  • National prices increased 4.7 percent year over year in December.
  • Full year (average) 2018 appreciation was 5.8 percent.
  • Home prices forecast to rise 4.6 percent from December 2018 to December 2019 and to average 3.4 percent for the full year 2019

Here’s the specific, and surprising to some, CoreLogic analysis of four individual home-price tiers that are calculated relative to the median national home sale price.

  • Their lowest price tier increased 6.7 percent year over year,
  • 5.5 percent for the low- to middle-price tier,
  • 5 percent for the middle- to moderate-price tier, and
  • 3.8 percent for the high-price tier.

 

CoreLogic’s Figure 1 shows the historical levels of the four price tiers indexed to January 2006, before each of the tiers hit its peak index value.

As with the overall CoreLogic Home Price Index (HPI®) Report (HPI – all price tiers combined), the price tiers show a slowing in appreciation ranging between 1 to 1.5 percentage points from the first half of 2018 to the second half of 2018.

The video below provides insights into some of the kinds of data that CoreLogic provides.

 

 

In a related report, CNBC reports that conventional housing sales have taken a bump, even while manufactured home sales have slid. Here are their bullets.

  • Demand for housing is suddenly soaring again, thanks to a drop in mortgage rates that could be temporary.
  • The share of homes with price cuts rose in January, according to Realtor.com, likely leading to the surge in buyers toward the end of the month.
  • Housing affordability remains an obstacle, particularly at the entry level.

JohnThalakerWhatYouAllowIsWhatWillContinueDailyBusinessNewsMHProNews

 

Each of these data points point to a hopeful, yet vexing reality.  Manufactured housing ought to be doing much, much better. See the related reports, further below the byline and notices.

It’s opportunity in disguise.  But it will require changes to tap those options. That’s  “News through the lens of manufactured homes, and factory-built housing” © where “We Provide, You Decide.” © ## (News, analysis, and commentary.)

 

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7 Reasons Why Manufactured Housing is Poised to for More Rapid Growth

July 14th, 2018 Comments off

7ReasonWhyManufacturedHousingIsPoisedForMoreRapidGrowthCNBCManufacturedHousingIndustryDailyBUsinessNewsMHproNewslogo

Nature abhors a vacuum. At the center of every business’ or industry’s success was the recognition of a need, followed by the steps required to fill that need.

 

The affordable housing crisis is well known and documented. What is less embraced are the causes and potential solutions, which includes manufactured homes, as well as other forms of factory-built or industrialized housing.  That’s opportunity in disguise.

The Daily Business News will spotlight today 7 Reasons Why Manufactured Housing is Poised for More Rapid Growth.

In no particular order of importance, the following are the seven reasons.

The 7 can be summed up in two words, “Money” and “information.”

1)   Record Equity. A decade after the housing/mortgage crash of 2008, the housing markets have recovered.  “The first three months of 2018 saw homeowners’ tappable equity surged by $380 billion to $5.8 trillion, the largest recorded,” states MPA, the Mortgage Professionals of America.

 

2)   There are many retailers and communities that know what the award-winning manufactured home retailer in the video below told MHLivingNews.com. Namely, that a large percentage of manufactured home buyers have first owned a conventional house. When some sell their house, they may pay cash or have more down payment to finance a manufactured home.  Some will borrow against a house in order to buy another home.

 

 

3)   The video above makes another important point for manufactured home professionals, investors, advocates, and the home buying public to know.  There are both entry-level and residential-style manufactured homes.  Both are necessary!  Each one – entry level, and residential style – benefits and complements the other. High-end producers or sellers are wise not to diminish their ‘shade and shelter’ kin, and vice versa.

 

NathanHararyMarketSnapshotAllAboutEquityFamilyFirstFundingManufacturedHousingINdustryDailyBusinessNewsMHproNews598

 

4)   Rapidly Rising Equity in Housing in the 1st quarter of 2018. Nathan Harary, Senior Loan Officer at Family First Funding tells MHProNews that “It’s all about equity.” As proof, he ticks off some specific examples of expert insights. By the way, when he says that 63 percent have a mortgage, that’s like saying that 37 percent don’t. Each kind of home owner is an opportunity in disguise for a savvy, ethical, and long-term thinking manufactured home marketers.

 

HomeownersareIntheMoney63PercentHaveMortgageFamilyFirstFundingLogoDailyBusinessNewsMHproNewslogo

When you say that 63 percent have a mortgage, that’s another way of saying that 37 percent are mortgage free.

 

5)   2018 1st quarter year-over-year growth.  Housing values rapid rise boosted equity by $1 trillion dollars in a a year. Wow!

NationalHomeOwnerEquity1stQuarter2018ManufacturedHousingIndustryMHproNewsFamilyFirstFundingLogo

A trillion dollars is equal to about 16,205,476 of the averaged priced manufactured home sold in December 2017, using Census Bureau data. So about half of that trillion dollars could pay for enough manufactured homes to meet the nation’s 8.3 million unit housing shortage, using NAR data.

 

6)   CoreLogic’s CEO’s statement.

CoreLogicPresCEOFrankMartellQuoteHomeEquityGrowFamilyFirstFundingLogoManufacturedHousingINdustryDailyBusinessNewsMHProNewslogo

 

7)   National Housing Data. The data and the trends, properly understood, are like a road map for the need for more factory-built homes.

HomePriceActivityNationallyFamilyFirstFundingLogoManufacturedHousingIndustryDailyBusinessNewsMHProNewsLogo

All of the above supports a factoid and quote that MHProNews has cited for months, and is shown below.  Namely, what the National Association of Realtor’s Lawrence Yun said about the need for more new homes.

LawrenceYunNARShort8.3MillionHousingUnitsRisingRentsHousingPricesCuredOnlyByMoreBuilding

Collage by MHProNews.

What the above comes down to, as noted previously, is money and information are the paths that must be used to fulfill the aspirations of millions.

Actionable information is motivating to a professional, and to housing seekers.

It should be noted that “poised” means “positioned.” Manufactured homes are in a position – for the 7 reasons cited above, as well as others to grow more rapidly.

So the above are not a guarantee. People, teams, and organizations are known to take a winning hand, and blow it.  The question is, what will you do with the hand dealt to you in your market?

Albert Einstein and Zig Ziglar both made similar observations.  The start of a solution is to start by understanding the problem. A need is a problem.  A problem is an opportunity in disguise.

Every challenge the industry faces – internally and externally – can debatably be met with a simple, effective and profitable solution.

There is work to be done, and opportunities to be tapped. Opportunity comes dressed in overalls. Are you ready to work for the next steps?  The linked items further below can be read for greater depth of understanding. “We Provide, You Decide.” © ## (News, analysis, and commentary.)

(Third-party images are and content are provided under fair use guidelines.)

Related References:

Investors, Heartbroken Home Owners, Site Building Giant DR Horton, and Manufactured Housing

Profits, Understanding Human Events, and Manufactured Housing

Life Hack Success Tip-Any Pro Can Do This-Monday Morning Manufactured Housing Sales, Marketing Meeting

Style or Substance? Lesson from Most Hated in America – Monday Morning Manufactured Home Sales, Marketing Meeting

What are the FACTS about Manufactured Housing Industry Traffic vs. Real Estate? MHVillage, MHProNews, Manufactured Housing Institute Data

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Hurricane Harvey, Billions in Damage Expected, Tragic Opportunities for Factory Home Builders?

August 25th, 2017 Comments off
HurricaneWarningTexasCreditWeatherChannelDailyBusinessNews

Featured image credit, The Weather Channel.

Texas is meeting Hurricane Harvey.  Currently a Category 2, per the NOAA, it is set to do billions of dollars in property damage.

Hurricane Harvey is threatening Texan’s and nearby coastal states with torrential rainfall and flash flooding.

The heavy rains from the storm are expected to continue, perhaps until next Thursday or even Friday.  It may drop as much as 34 inches of rainfall.

That’s as much or more as parts of the state usually sees in a year, all in the course of one week.

The local weather service is being blunt about the situation, saying “some structures becoming uninhabitable or washed away” and “numerous road and bridge closures with some weakened or washed out” are likely.

According to the Houston Chronicle and a report released by Irvine, CA based CoreLogic, at least 118,000 homes in the Houston area alone are at risk for damage should the hurricane make landfall, especially if it hits as a Category 3 storm.

The cost to rebuild these homes – including labor and materials – is being estimated at $20.8 billion.

HurricaneHarveyDailyBusinessNewsMHProNews

Along the Texas coast there are around 232,721 homes that are also at risk of damage from Category 3 hurricane conditions.  If so, the estimated cost to rebuild statewide is $39.6 billion.

RainfallOutlookTexasHurricaneHarveyCreditWeatherChannelDailyBusiness

Rainfall outlook for Texas during Hurricane Harvey. Credit, The Weather Channel.

These numbers are estimates of course – and until the storm is over there is no way to get a clearer idea of what the total damages will be.

The National Weather Service (NWS) warns that “structural damage to sturdy buildings” and “complete destruction of mobile homes” is likely around the eyewall of the hurricane.  It is unclear, based upon the quotes, if the NWS meant pre-HUD Code mobile home or post-code manufactured homes, or both.

While no one claims manufactured homes are tornado or hurricane proof, the facts reflect a far more durable structure than media and weather services report.

Per a report done in Florida, linked here, the post-storm facts make it clear that manufactured homes – notably those post 1994 – are in several cases performing as well or better than conventional housing.

GoneWithWindstormManufacturedHomeDorthyWizardOzPinterestDailyBusinessNewsMHProNews

You can see for yourself in the MHLivingNews video where people talk about the surprise of coming back after evacuating to their home standing strong and proud as always.

As that previous Daily Business News article points out, some 80% of damages to manufactured homes during hurricanes were due to the improper attachment or tie-down of add-ons, such as porches and carports.  Flying debris is another problem, for all kinds of housing.

Tragic Opportunities for Manufactured and Modular Homes?

While it is too soon to tell, it would not be a surprise if FEMA was called in, post storm.

CollageofFEMAmanufactured-homesToRescue-creditsFEMARuss-Desantis-The-Record-postedDailyBusinessNewsMHProNews-

Graphic from a prior story, to see that report, click here. Credit: Russ Desantis, The Record.

While HUD Code manufactured homes are sturdier and safer than older mobile homes, or some conventional housing, residents should follow hurricane evacuation warnings when they are given. ## (News, analysis.)

Friday Evening Update: This storm has progressed into Category 3, and is now a Category 4 hurricane.

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JuliaGranowiczManufacturedHomeLivingNewsMHProNews-comSubmitted by Julia Granowicz to the Daily Business News for MHProNews.

 

 

 

Housing’s New Normal: Low Interest Rates, Shifting Demand – MH Opportunity?

November 4th, 2016 Comments off
housingsnewnormalcreditcorelogicurbaninstitute-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: CoreLogic, The Urban Institute.

At the recently held Data, Demand and Demographics: A Symposium on Housing Finance in Washington, D.C., CoreLogic Chief Economist Frank Nothaft shared a strong statement with housing insiders in attendance.

If you’re waiting for any dramatic shifts in housing, interest rates, or anything like them, you’re likely to be left waiting.

I think mortgage rates are going to be with us for a long period of time,” Nothaft said. “The expectation in capital markets is no rate change from the Federal Open Markets Committee (FOMC) today. We may see an increase in federal funds rate in December.

housingsnewnormalcreditfranknothaftcreditcorelogic-postedtothedailybusinessnewsmhpronewsmhlivingnews

Frank Nothaft. Credit: CoreLogic.

HousingWire reports that Nothaft also stated that the recent FOMC announcement could provide more of an indication on the willingness of FOMC members to increase rates before the year is out.

But even if the FOMC does raise rates, mortgage interest rates will stay low, but perhaps not as “dirt cheap” as they are right now.

I think we’ll see rates rise from dirt cheap to a very low level as we move into next year, still remaining below 4% all through next year,” Nothaft said. “We’re evolving into a new era in mortgage rates.

Nothaft also provided predictions on four other trends that he feels will emerge over the next several years that will shape what he has coined the “new normal.

 

housingsnewnormalcreditcorelogicurbaninstitute3-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: CoreLogic.

  • A shift in household composition

With the largest age cohort in the U.S. population, ages 24 and 25 and the average age for the first time homebuyer, age 31, moving closer together, the millennial buyers are coming, soon.

housingsnewnormalcreditcorelogicurbaninstitute2-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: As shown.

  • A shift in the head of household

Nothaft sees a shift to 75 percent of new households being minority-headed over the next 10 years. Hispanics are projected to lead the way.

  • Home sales will continue to rise.
  • But homeowners will be holding on to their homes, which could constrain growth.

An Opportunity for the Manufactured Housing Industry

solutionusaffordablehousingcrisishidingplainsight-mhlivingnews-billmatchneertonykovach-posteddailybusinessnewsmhpronews

Credit: MHLivingNews.

MHProNews and MHLivingNews continue to cover the challenges as well as the numerous advantages that the manufactured housing industry provides in the U.S., making affordable, quality housing easily available to most of the population.

latonykovachcreditsmhvillagemhpronews-manufacturedhousingindustrynews-mhpronews

L A ‘Tony’ Kovach, credit, MHVillage.

MHProNews and MHLivingNews publisher L.A. “Tony” Kovach provides deep insight into this opportunity in Obstacles and Opportunities in Affordable Housing – October 2016, and the understanding that the solution to affordable housing is hiding in plain sight.

With new attitudes about housing, millennials are looking for viable economic solutions that also provide the opportunity for sustainability.

Hybrid Prefab Homes president Otis Orsburn sees a tremendous opportunity for his segment of the industry to fill that need.otisorsburnhybridprefabhomes-dailybusinessnewsprefabricatedmodularhomeindustry-mhpronews

Our retail shoppers are typically millennials that embrace technology and are looking for more bang for their buck without sacrificing green, sustainable and energy saving features. They wonder aloud why all homes aren’t built in the hybrid manner,” Orsburn told MHProNews in his A Cup of Coffee With… feature.

Leaders in business also clearly understand the opportunity, such as Warren Buffet and Berkshire Hathaway, which owns Clayton Homes, and Sam Zell, Chairman of Equity LifeStyle Properties, or independents such as John Bostick, with Sunshine Homes.

pencil-head-its-not-a-trailer-park-els-chairman-sam-zell-c2013lifestyle-factory-homes-llc-all-rights-reserved-manufactured-housing-pro-news

To see an exclusive interview with Sam Zell, click here or the image above.

Giants and independents alike are “doubling down” on the manufactured housing industry, with Zell being quoted as saying during this interview “Everyone calls them trailer parks. Pencil head, it’s not a trailer park.

Sunshine Home’s John Bostick knows the challenges facing manufactured housing, as well as the immense opportunities when he reminds professionals that “Easy doesn’t pay well.” What Bostick means is that it is only through effort that manufactured housing will advance to its potential. ##

(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.

Home Prices in Northwest Nearly Double National Average

August 2nd, 2016 Comments off

house price increases  housingwire  credit postedDailyBusinessNewsMHProNewsHome prices rose in June 5.7 percent year-over-year, a slight drop from the 5.9 percent rise in prices in May, as CoreLogic tells nationalmortgagenews. The increase over May was 1.1 percent, MHProNews has learned.

Prices for July will increase 5.3 percent year-over-year, and 0.6 percent on a month-over-month basis, CoreLogic has predicted.

We see prices continuing to increase at a healthy rate over the next year by as much as 5%,” CoreLogic chief executive and president Anand Nallathambi said in a news release.

Oregon and Washington experienced the largest price increases, 10.9 percent and 10.3 percent, respectively, while Connecticut’s home prices slipped 1.7 percent. In New Jersey, prices fell 0.8 percent. ##

Image credit: housingwire–home prices increase)

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

Home Prices Gain Nearly Ten Percent

July 7th, 2016 Comments off

home_pr_increase___etftrends_creditAccording to what CoreLogic’s Home Price Index, home prices posted a year-over-year gain in May of 5.9 percent, and an increase over April, 2016 of 1.3 percent, above CoreLogic’s expectations of an 0.9 percent rise.

CoreLogic Chief Economist Frank Nothaft said year-over-year home prices have risen by 5-6 percent for 22 consecutive months, as reported by nationalmortgagenews. He added, “The consistently solid growth in home prices has been driven by the highest resale activity in nine years and a still-tight housing inventory.”

In May, Oregon and Washington posted the highest price increases, 11% and 10%, respectively, while three eastern states experienced depreciation: Connecticut 0.9%, New Jersey at 0.2% and Pennsylvania at 0.1%.

MHProNews has learned CoreLogic forecasts an increase of home prices in June as compared to May of 0.8%, and a 5.3% increase year-over-year in May of 2017. ##

(Home prices rising-credit=etftrends-posted DailyBusinessNewsMHProNews)

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

Home Prices Continue to Rise Faster than Wages

May 3rd, 2016 Comments off

house price increases housingwire creditU. S. house prices rose 2.1 percent between Feb. and March, including distressed sales, and 6.7 percent between March 2015 and March 2016, according to constructiondive. Wages for would-be first time homebuyers likely did not rise that much on the year, MHProNews knows, putting a home out of reach.

Reporting in its Home Price Index, CoreLogic also predicted home prices will increase 0.7 percent between March and April, and 5.3 percent between March 2016 and March 2017. That is a 12 percent jump from 2015 to 2017.

President and CEO of CoreLogic, Anand Nallathambi, said home prices have appreciated nearly 40 percent since bottoming out five years ago, with the West seeing the most appreciation.

Housing helped keep U.S. economic growth afloat in the first quarter of 2016 as residential investment recorded its strongest gain since the end of 2012,” CoreLogic Chief Economist Frank Nothaft said in a release. “Low interest rates and increased home building suggest that housing will continue to be a growth driver.”

Trulia reports starter-home inventory dropped 44 percent in the last five years, and that sector’s prices have increased 5.6 percent.

The National Association of Realtors (NAR) reports continuing price growth is hindering home construction, although some builders complain the regulatory burden is itself a barrier. The National Association of Home Builders (NAHB) testified recently before Congress that regulatory expenses can increase the cost of a house by 25 percent. ##

(Image credit: housingwire–house price increases)

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