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Posts Tagged ‘Cuts’

Do Potential HUD Program Cuts Mean Opportunity for Manufactured Housing?

April 5th, 2017 Comments off

DoPotentialHUDProgramCutsMeanOpportunityforManufacturedHousing-postedtothedailybusinessnewsmhpronewsmhlivingnewsAs the Trump Administration continues to move forward with making government more efficient, a number of proposed cuts, including funding to National Public Radio (NPR) and the Corporation for Public Broadcasting (CPB), a very clear message is being sent: Serve the public interest in an efficient, businesslike and honest manner.

Interestingly, an area that could be potentially impacted is one that’s of great interest to the manufactured housing industry: the U.S. Department of Housing and Urban Development (HUD).

And, that impact could be significant.

The full story is on MHLivingNews, 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

Trump Administration Readies Budget Cuts, Familiar Name on List

February 23rd, 2017 Comments off
TrumpAdministrationReadiesBudgetCutsFamiliarNameonListcreditMediaMatters-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Media Matters.

As the Trump Administration prepares its first budget, a familiar name is on the chopping block.

Legal Services Corporation, AmeriCorps, the National Endowments for the Arts and the Humanities, and the Corporation for Public Broadcasting (CPB), parent of National Public Radio (NPR), are all in the crosshairs for cuts.

According to the New York Times, Representative Mick Mulvaney, a spending hard-liner, is now in place as budget director and his office is ready to move ahead with a list of nine programs to eliminate, in an effort to reorder the government and increase spending on defense and infrastructure.

The total amount of annual savings from cutting these programs would be in the neighborhood of $2.5 billion, which would be comparatively small. However, Trump administration officials have said that they want to highlight the agencies in their coming budget proposal as examples of misuse of taxpayer dollars.

A balanced budget is fine,” said President Trump in an interview with Fox News.

But sometimes you have to fuel the well in order to really get the economy goingI want a balanced budget eventually. But I want to have a strong military.

Some feel that the targets on the Trump Administration list don’t make sense.

Steve Bell, a former staff director of the Senate Budget Committee who is now with the Bipartisan Policy Center, said the programs identified in the memo would be of little significance in the government’s financial picture.

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Credit: 12 Bytes.

It’s sad in a way because those programs aren’t causing the deficit,” said Bell.

These programs don’t amount to a hill of beans.

As Daily Business News readers are aware, the CPB and NPR not only receive government funding, but also solicit donations from viewers and listeners. NPR recently produced a segment that cited UMH properties in Nashville, Tennessee, which not only included misinformation, but was also picked up by the Tennessean, which in turn contradicted a recent story they did on UMH, which highlighted how pleased residents were with their communities.

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Credit: iMediaEthics.

With huge deficits and mounting debt, should U.S. taxpayers be funding any media,” said MHProNews and MHLivingNews Publisher L.A. “Tony” Kovach, commenting on a recent op-ed on the topic, “other than video feeds from CSPAN or social media posts by agencies that allow citizens to follow their government’s actions?

LATonyKovach-Louisville-2015-mhpronews-com-275x156Kovach continued, speaking to “agenda journalism (as opposed to legitimate editorializing, which should be in a different part of publication) is the recent case of NPR’s attack on private investor owned manufactured home communities.

MHLivingNews.com and MHProNews.com dug into those issues, revealing facts that NPR simply ignored. When we contacted NPR for comments on clearly overlooked third-party information that ran counter to their narrative, their reply? That they stand by their reports, said Kovach.

Of the targets on the list, backers of the National Endowment for the Arts are very likely to put up a significant fight to survive.

The public wants to see agencies like the N.E.A. continue,” said Robert L. Lynch, head of Americans for the Arts, a nonprofit organization.

There is always a debate, but there has been agreement among Republicans and Democrats that funding for the arts is a good thing, and it has been kept in place.

But, Stephen Moore, a Heritage Foundation economist, says that “powerful constituencies” are behind many of the programs that are in the crosshairs.

Even so, he believes that since Republicans are now in control of the government, they need to make good the promise made to voters not only during the campaign, but over many years.

I think it’s an important endeavor to try to get rid of things that are unnecessary,said Moore.

The American public has a lot of contempt for how government is run in Washington, in no small part because there is so much waste.

The original NPR segment on UMH is linked here. ##

 

(Image credits are as shown above.)

 

rcwilliams-writer75x75manufacturedhousingindustrymhpronews

RC Williams, for Daily Business News, MHProNews.

RC Williams, for Daily Business NewsMHProNews.

Trump’s Regulation Cuts Could Have Major Impact on MH

January 23rd, 2017 Comments off
TrumpsRegulationCutsCouldHaveMajorImpactonMHcreditAmericaEnterpriseInstitute-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: American Enterprise Institute.

Throughout the 2016 presidential campaign, Donald Trump was very clear on one thing he wanted to change – regulations.

President Trump talked about the Obama-era financial regulations, including Dodd-Frank, as “bad for business” and responsible for the nation’s slow growing economy.

 

For many, the President’s anti-regulatory stance is a welcome breath of fresh air.

According to Business Insider, the financial services industry is particularly excited, seeing the Trump victory as an early Christmas present.

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Octavio Marenzi. Credit: Optimas.

This isn’t going to necessarily translate into a golden age for banks, but it will be a normalization of the business environment. They’ve been battered by regulations and now we are finally going to see a more healthy environment,” said Octavio Marenzi, CEO of Opimas, a management consultancy firm focused on capital markets.

Our analysis shows that efforts to deregulate could redirect more than $25 billion in capital in the financial services industry over the course of the next 18-24 months,” said Opimas co-founder Medy Agami.

Areas in the analysis by Opimas that are of particular interest to the manufacture housing industry:

  • The roll back of Dodd-Frank and the elimination of the Consumer Financial Protection Bureau (CFPB).
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Credit: Plus 1 Properties, MHProNews.

The elimination of or serious reduction in CFPB regulations will mean a potential savings of nearly $1.4 billion for banks,” said Marenzi.

Additionally, Treasury Secretary nominee Steven Mnuchin has said that the new administration plans to “strip back parts of Dodd-Frank that prevent banks from lending.

As Daily Business News readers are aware, Republican Senators Bob Sasse (NE) and Mike Lee (UT) have called for the removal of CFPB director Richard Cordray, and Democratic lawmakers have called on the Trump Administration to keep Cordray and the agency in tact as is.

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Credit: Wikipedia, CFPB, HubPages.

A D.C. circuit court ruled last year that the CFPB was unconstitutional.

  • Repeal of the “Volcker Rule”

Enacted in 2013, the rule was designed to prevent future financial crises. Agami and Marenzi believe that the rule is the easiest to roll back, because all the President would essentially need to do is tell regulators to stop enforcing it.

TrumpsRegulationCutsCouldHaveMajorImpactonMHMedyAgamicreditOptimas-postedtothedailybusinessnewsmhpronewsmhlivingnews

Medy Agami. Credit: Optimas.

The implications will be significant for large investment banks since dropping the rule would generate additional revenue and profitability streams,” said Agami.

There is also significant evidence that repealing The Volcker Rule will increase liquidity in various asset classes—fixed income, equities, commodities, foreign government debt, etc.—by enabling dealers to hold inventory that has long-term demand from clients that would otherwise not be allowed,” said Marenzi.

  • Reductions in capital and liquidity requirements
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A Clayton home in Chino Valley. Credit: Clayton Homes.

Originally put in place to prevent risky lending by financial institutions, Marenzi and Agami see significant reductions in the requirements freeing up money hoarded by banks.

It will free up nearly $20 billion in unproductive capital over the next 18-24 months that banks are hoarding and could redirect to other areas,” they said.

These regulations will be the most difficult to scale back since they are globally implemented and compelled banks to build myriad models and retain armies of risk and compliance teams.

Movement in these areas, combined with incoming Secretary of Housing and Urban Development (HUD) Dr. Ben Carson, could bode very well for the manufactured housing industry as regulations decrease and capital flows improve.

For more on Dodd-Frank, the CFPB and their impact on the manufactured housing industry, 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.