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Census, HUD Official Residential Construction Report for April 2019, Dare to Compare to Manufactured Housing Data

May 16th, 2019 No comments

 

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Our publisher was laughing this morning after he read an email.  When asked what the joke was, he replied by showing a pro-Manufactured Housing Institute trade media outlet that was announcing their ‘State of the Industry’ upcoming report.  “The state of the industry can be summed up by statistics,” said L. A. ‘Tony’ Kovach, as the laughter faded, replaced by a sober look, “which reflects the dismal reality that during an affordable housing crisis, manufactured housing is selling fewer homes today than 15 years ago, when Warren Buffett’s Berkshire Hathaway entered the manufactured home industry by buying Clayton Homes.  Coincidence?

 

He added two question.  “Do you think that trade publisher will look at the underlying issues or evidence that have contributed to the industry’s decline?  Or do you think they will be doing more cheerleading, as more slow-motion consolidation takes place?”

 

BloombergShipmentProductionDataManufacturedHousingMHProNews2019-05-16_1057

 

Time will tell what the pro-MHI echo chamber might produce next. We’ll plan to report on what their latest spin on reality might be.

That said, HUD’s and the U.S. Census Bureau’s Residential Construction report for April, 2019 is out this morning.  Following their data-driven report, there will be a recap of HUD’s new manufactured home shipment data.

 

 

 

U.S. Dept. of Housing and Urban Development (HUD)               U.S. Census Bureau

 

May 16, 2019

 

HUD AND CENSUS BUREAU REPORT RESIDENTIAL CONSTRUCTION ACTIVITY IN APRIL 2019

 

WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential construction statistics for April 2019.

NewResidentialConstructionApril2019BuildingPermitsSingleFamilyHousingStartsCompletionsHUD-USCensusBureauManufacturedHousingIndustryMHProNews

 

Building Permits

 

Privately owned housing units authorized by building permits in April were at a seasonally adjusted annual rate of 1,296,000. This is 0.6 percent (±2.6 percent)* above the revised March rate of 1,288,000, but is 5.0 percent (±1.4 percent) below the April 2018 rate of 1,364,000.  Single‐family authorizations in April were at a rate of 782,000; this is 4.2 percent (±1.2 percent) below the revised March figure of 816,000.  Authorizations of units in buildings with five units or more were at a rate of 467,000 in

April.

 

Housing Starts

 

Privately owned housing starts in April were at a seasonally adjusted annual rate of 1,235,000.  This is 5.7 percent (±13.0 percent)* above the revised March estimate of 1,168,000, but is 2.5 percent (±10.4 percent)* below the April 2018 rate of 1,267,000.  Single‐family housing starts in April were at a rate of 854,000; this is 6.2 percent (±13.7 percent)* above the revised March figure of 804,000. The April rate for units in buildings with five units or more was 359,000.

 

Housing Completions

 

Privately owned housing completions in April were at a seasonally adjusted annual rate of 1,312,000.  This is 1.4 percent (±15.5 percent)* below the revised March estimate of 1,331,000, but is 5.5 percent (±11.9 percent)* above the April 2018 rate of 1,244,000.  Single‐family housing completions in April were at a rate of 918,000; this is 4.1 percent (±13.4 percent)* below the revised March rate of 957,000. The April rate for units in buildings with five units or more was 381,000. The February report is scheduled for release on March 26, 2019.

 

EXPLANATORY NOTES

 

In interpreting changes in the statistics in this release, note that month-to-month changes in seasonally adjusted statistics often show movements which may be irregular. It may take three months to establish an underlying trend for building permit authorizations, six months for total starts, and six months for total completions. The statistics in this release are estimated from sample surveys and are subject to sampling variability as well as nonsampling error including bias and variance from response, nonreporting, and undercoverage. Estimated relative standard errors of the most recent data are shown in the tables. Whenever a statement such as “2.5 percent (±3.2 percent) above” appears in the text, this indicates the range (-0.7 to +5.7 percent) in which the actual percentage change is likely to have occurred. All ranges given for percentage changes are 90 percent confidence intervals and account only for sampling variability. If a range does not contain zero, the change is statistically significant. If it does contain zero, the change is not statistically significant; that is, it is uncertain whether there was an increase or decrease. The same policies apply to the confidence intervals for percentage changes shown in the tables. On average, the preliminary seasonally adjusted estimates of total building permits, housing starts and housing completions are revised 3 percent or less.

 

* The 90 percent confidence interval includes zero. In such cases, there is insufficient statistical evidence to conclude that the actual change is different from zero.

 

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MHIlogoMonopolisticHousingInstituteLogoManufacturedHousingInstituteLogoMarch2019ProductionShipmentReport

The data above sums up what MHI’s own flatly stated report, without presenting a solution to the problems that their own slogan indicates lies in their purvey.

ManufacturedHousingInstituteMHILogoPhotoOnlyTradeOrganizationrepresentingallsegmentsfactorybuilthousing2019-05-14_0808

MHARRR’s analysis of HUD Data revealed that 8 of the 10 of the top ten states in manufactured housing shipments are behind in year-over-year totals.

 

MHARRshipmentProductionMarch2019ManufacturedHousingReportMHProNews

While MHI in their monthly shipment report doesn’t deny the decline, neither are they addressing the underlying causes, nor have they proposed a remedy via their messages to the industry. Why not?

But somehow, MHI managed to claim in their late 2018 self-promotional video that they had ‘momentum’ – which is true, if they meant reverse momentum. Or momentum in the sense that more consolidation is underway.

MHARRshipmentProductionMarch2019ManufacturedHousingReportMHProNews

While MHARR’s mission is to represent producers in regulatory concerns at the federal level, due to the severity of the concerns, they’ve stepped up and are initiating projects aimed at addressing zoning, placement, and finance related challenges. See the related reports, further below the byline, offers, and notices.

 

That’s our second look today at “News through the lens of manufactured homes, and factory-built housing,© where “We Provide, You Decide.” © ## (News, analysis, and commentary.)

 

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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.

Related Reports:

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What the Manufactured Housing Institute (MHI) Said About March 2019 Shipment and Production Data

May 9th, 2019 No comments

 

LET’S KEEP BUILDING!” declares one of the Manufactured Housing Institute (MHI) messages about their recent Congress and Expo in New Orleans.

 

The upbeat sound of that message is arguably betrayed by the reality that for the 7th straight month, manufactured housing shipments are down.

But that embarrassing detail is not mentioned anywhere in the MHI release earlier today.

Here’s the meat of what MHI’s statement said, which will be followed by an analysis.

 

MHIlogoMonopolisticHousingInstituteLogoManufacturedHousingInstituteLogoMarch2019ProductionShipmentReport

7,623 New HUD Code Homes Shipped in March 

In March 2019, new manufactured home shipments decreased 13.5% to 7,623 homes as compared to the 8,813 homes shipped in March 2018. Total shipments for March 2019 were 382 homes more than the prior month of February. Compared with March 2018, shipments of single-section homes are down by 18.2% and multi-section homes are down by 9.2%. Total floors shipped in March 2019 decreased 12.1% to 11,859 compared to March 2018.

Of the 7,623 homes shipped in March, there were no homes designated as FEMA units shipped which is generally flat against the five FEMA units shipped in March 2018.

The seasonally adjusted annual rate (SAAR) of shipments was 90,459 in March, down 1.9% from the adjusted rate of 92,195 in February. The SAAR corrects for normal seasonal variations and projects annual shipments based on the current monthly total.

In March, 134 plants representing 34 corporations reported production data which is the same number of active plants and corporations as in February 2019.

##

The video below is from about prominent MHI member, Nathan Smith and SSK Communities. It is not related to their economic report, other than as food for thought as to some of the public perception reasons why the industry is struggling.  A clip from this video was part of John Oliver’s viral hit video. 

 

Compare and contrast what MHI said this week vs. what MHARR did days earlier.

 

HUD Code Manufactured Home Production Decline Continues, May Updates

 

While it may not be Jenny Hodges’ job at MHI to explain what the Arlington based trade group’s plan are to address the 7-month downturn, whose job there is it?  We’ve asked several times, and MHI isn’t saying.

 

MHI’s Growth Agenda? Rick Robinson, JD, SVP Manufactured Housing Institute, Preemption Evidence, Writ of Mandamus, and Addressing HUD Code Manufactured Home Shipment Woes

 

One MHI member-producer floated the notion of FEMA shipment related being a factor, but the MHI statement above belies that notion for this cycle.

When purported MHI surrogate George F. Allen asked Cavco’s Joe Stegmayer, still MHI’s chairman, about the shipment drop Stegmayer said:

Joe Stegmayer, Cavco.

Joe Stegmayer, Cavco.

 

George 

Believe inventories of retailers climbed rather suddenly to above comfort levels. Now being adjusted. 

Our view is consistent with Clayton’s that consumer traffic is solid. would add that it appears that credit availability has improved somewhat. 

Another plus: The inventory of all existing homes for sale is near historically low levels.

Absent national economic calamities we are optimistic.”

 

Bear in mind that Stegmayer is an ex-Clayton Homes division president.  He also happens to be under a cloud of last November’s SEC subpoena, at a firm that faces several legal woes. Stegmayer’s comment was referencing this from Kevin Clayton.

kevinclaytonl-warrenbuffettr-inclaytonhomecredittodayonline-postedmanufacturedhousingindustrydailybusinessnewsmhpronews

Kevin Clayton, left, Warren Buffett, right, standing in a Clayton Homes model. Credit, TodayOnline.

Retail inventory correction

Look at RV industry….it is even more severe for them. 

Good news is retail activity remains healthy to work through it.  That’s just one opinion \ view.   

Kevin Clayton

This from a company president reportedly under several federal investigations. It is also from the president who’s conglomerate’s chairman, Warren Buffett is reportedly funding the industry’s opposition, see the reports linked here and here.

 

While others have noted that there were more orders last year to counter long factory backlogs, that fails to address the point that demand at some point slumped, or the backlog would have continued.

Furthermore, industry pros and investors should bear in mind that the RV industry is not in the affordable housing market.  It is an interesting item to look at, MHProNews uses it as a reference too.  But we do so to reflect the point that RVs are outselling MHs by some 5 to 1, when in 1998, MHs outsold RVs by 3 to 2.

Not a peep about that from Clayton, Stegmayer or other senior MHI leaders in public.  Apparently, it doesn’t fit their ‘party line’ or ‘narrative.’

March2019MHARRManufacturedHousingAssocRegReformTop10states8StatesInDeclineMHProNews

 

The issue of a downturn during an affordable housing crisis is serious, as the related reports below reflect.  See two special reports tomorrow morning that spotlight various aspects of this #NettlesomeThings issue.

That’s this tonight’s edition of “News through the lens of manufactured homes, and factory-built housing” © where “We Provide, You Decide.” © ## (News, analysis, and commentary.)

 

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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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“Lead, Follow … Or Get Out of The Way”

 

 

 

 

 

 

 

 

 

 

 

AEI’s National and Metro Housing Market Trends-Indicators, Interactive Maps and Data

May 7th, 2019 Comments off

 

AEInationalMetroHousingMarketTrendsIndicatorsInteractiveMapsDataManufacturedHousingIndustryMHProNews

Housing markets are inherently local, making them notoriously difficult to analyze due to the lack of reliable data at the local level. A new dataset from the AEI Housing Center, the first in a series of quarterly reports, aims to fill this void by analyzing housing market data for the 60 largest US metropolitan areas, as well as for the nation as a whole. The current dataset looks at housing data from 2018:Q4.”

 

So said the American Enterprise Institute (AEI) in newly unveiled research by Edward Pinto, Codirector, AEI Housing Center and Tobias Peter, Senior Research Analyst, AEI Housing Center.

 

The recent declines in mortgage rates will increase demand during the spring buying season which has just begun,” noted Edward Pinto, codirector of the American Enterprise Institute’s (AEI’s) Housing Center. “Since inventories remain fairly tight across the nation, this combination points towards higher house price growth in the months ahead,” Pinto added.

Reports of the end of current housing boom are exaggerated,” said Tobias Peter, senior research analyst at AEI’s Housing Center. “The data we are releasing demonstrates that inventories remain tight nationally, especially for entry-level homes. This trend, along with continued credit easing for first-time buyers and a significant decline in mortgage rates, all point to a continuation of the boom for entry-level buyers,” Peter also said.

Stating the obvious, all housing sales are local,” said L. A. ‘Tony’ Kovach, in commenting on this useful new research. “This should be a useful research of housing trends for manufactured, modular, and other forms of factory-building to use as a quick reference for markets near their locations. Bookmark this page and use this as needed, until we publish the next update.”

Place your mouse-pointer over a city or national data to get that snapshot.  Let the interactive graphic load, which may take a few seconds.

 

 

AEI said that the information was gathered in the following ways. The bullets are all quotes from AEI.

  • The data consists of around 41 million arms-length purchase transactions from 2012 to the most recent period. We eliminate transactions that do not involve at least one individual, that are between corporations or builders, or transactions for which the buyer is a government entity or a lender. The final dataset consists of around 34 million transactions.
  • The study tracks housing activity both for the entire market and for entry-level and move-up buyer segments. We only focus on institutionally financed sales (meaning we exclude cash sales or sales with seller financing.) We define entry-level as all sales below the Federal Housing Administration (FHA) 80th percentile price in a metro and quarter. The rational for a dynamic price cut-off at the metro level is that the share of entry-level buyers varies across the country. According to FHA’s Production Report, around 80% of FHA’s purchase loans go to first-time buyers, who mostly compete with other first-time buyers from other agencies for entry-level housing. The 80th percentile price cut-off, therefore, captures this market segment reasonably well. This is confirmed by the data. Across the nation, the entry-level segment consists largely of first-time buyers, while the move-up segment consists mostly of repeat buyers.
  • The data to compute the FHA price cut-offs come from the HUD FHA Single Family Portfolio Snap Shot, which is a census of all FHA endorsements.
  • The study’s house price indices (HPI) are computed from the underlying data. The index construction differs from the most widely known house price indices, which are either repeat sales (i.e. Case Shiller or FHFA) or hedonic (Zillow) indices. AEI creates a “quasi” sales pair consisting of one actual sale and a second reference “sale” as measured by the home’s estimated sales price using an Automated Valuation Model (AVM). The AVM approximates a property’s sale price at a given point in time. The AVMs come from First American (DataTree.com) and are unbiased with a high level of accuracy.
  • The advantage of this approach is that it combines the best of the repeat and hedonic models. Unlike a true repeat sales index, which is limited to repeat sales and may therefore not be representative of the actual sales taking place during the measurement period, AEI’s index includes virtually the entire universe of sales during the period. And, unlike a true hedonic index, which incorporates every property (even unsold ones), it reduces the amount of errors since at least one sale of the pair actually sold during the measurement period. This also allows for index construction by market segment and at fine geographic levels.
  • The AEI HPIs are based on a high proportion of institutionally financed home sales (after eliminating some extreme outliers) back to January 2012. The data are weighted at the county level to assure that they are representative of the full count of actual sales.
  • For the Atlanta metro, for which it is currently impossible to distinguish institutionally financed sales from cash sales for the most recent 2 quarters, we use the house price trends for all sales for these two quarters.
  • Data on housing inventory come from Zillow. We receive quarterly data on median daily listings and existing homes sales at the county level and broken out by market segment. The data are from 2013 to the most recent period. We aggregate these data up to the metro level and break them out into entry- and move-up buyers.
  • The AEI Mortgage Risk Index measures how the loans originated in a given month would perform if subjected to the same stress as in the financial crisis that began in 2007. This is similar to stress tests routinely performed to ascertain an automobile’s crashworthiness or a building’s ability to withstand severe hurricane force winds.
  • Mortgages are risk rated using a matrix of benchmark default rates for home purchase loans acquired by Freddie Mac in 2007. This approach has been adopted by FHFA in joint research with the AEI Housing Center’s staff. A detailed methodology of the risk index can be found here.
  • The data to identify new constructions come from different data sources. The inputs are public records data (deed & assessor files) and Listings data from Zillow. We primarily rely on a home’s “year built” variable in the assessor file. If the “year built” is missing, we check the home’s seller name from the deed file. If the seller matches a name in a list of over 400 builders or it includes a key word that helps identify smaller builders, then the sale is most likely a new construction that has not yet been assessed.
  • In the case that “year built” or seller name are missing, we check listings data for a “year built” or “land use code,” which helps us determine the new construction status of the home. We only count the first sale of a home as a new construction.
  • We have verified the accuracy of our methodology through random sampling and checking of newly constructed and existing homes using Zillow data, Google Street View and satellite images. We find around 2% false positives and around 1% false negatives, which leads us to conclude that our methodology is very accurate.
  • We estimate the residential housing stock from the assessor file. We eliminate multifamily and non-residential sales to arrive at an estimate for the total housing stock. Since the data are overwritten once new assessments at the county level become available, the data show the stock when it was last assessed. No historical estimates are available.
  • Our analysis is done at the metro level. We use the National Bureau of Economic Research’s (NBER) county to CBSA (core based statistical area) crosswalk files for 2017 to aggregate counties into metros. We create Housing Market Indicator reports for the nation’s largest 60 metros. We rank metros based on their institutionally financed purchase home sales in 2017 using Home Mortgage Disclosure Act (HMDA) data for 2017.

 

 

NBER research was cited in the reports linked above, and below.

 

 

Manufactured housing is underperforming as an industry, which means it is underperforming at the local level too.  But it need not be so. By making the proper adjustments at the local level, sales with high customer satisfaction can and should occur.  Don’t let others limit your thinking about the potential in your market.  To learn more, click here to scroll the development options, or do so below in the related links that follows the bylines and notices.

That’s this afternoon’s look at “News through the lens of manufactured homes, and factory-built housing” © where “We Provide, You Decide.” ©

 

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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.

Related Reports:

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Warning – Number 1 Manufactured Housing State, Texas – Reports Month Over Month Rise, Year over Year Shipment Decline Continues

May 2nd, 2019 Comments off

 

WarningNumber1ManufacturedHousingStateTexasReportsMonthOverMonthRiseYearOverYearShipmentDeclineContinuesMHProNews

Last night, the Daily Business News on MHProNews looked at regional data that revealed 3 states with increases, but 3 others with significant declines in new manufactured homes shipped.

 

 

Now, in our pre-dawn report, multiple tips from members of the Texas Manufactured Housing Association (TMHA) provided their state’s latest – sobering – shipment data.

Quoting the TMHA, following the graphic below.

 

AnnualShipmentTotalsTXMHAManufacturedHousingShipmentsFebMarch2019vs2018MHProNews

 

MARCH

Manufactured home shipments for March moved up 4.9% over February. The month-over-month growth was aided by an additional work day and stemmed from a 10.5% increase in multi-section shipments which once again beat single-section shipments for the fourth month in a row. Single-section shipments slipped -0.7% from February.

We’re now past the point where the year-over-year comparisons for a single month should be substantially impacted by FEMA units and March saw a marked -26.8% slowdown in comparison to March of 2018, which was last year’s peak month.

Multi-sections shipments were down -9.8% and single-sections were down -39.5%.

While shipments were soft this month, the early data indicates that retailer sales expanded in February and titles issued thus far for March sales also indicate strong year-over-year growth for that month. We’ll be watching the titling data as it comes in, but It appears likely that last year’s backlog constraints led retailers to over order and build up a stock of homes in inventory that they are now selling from. If the year-over-year elevated sales continue, then shipments should pick up later in the year as those inventories decline.”

 

March2019ShipmentTotalsTXMHAManufacturedHousingShipmentsFebMarch2019vs2018MHProNews

 

Certainly, TMHA has significant influence from Clayton Homes, Berkshire Hathaway brand lenders, and the Manufactured Housing Institute (MHI). Their staff arguably has the same “How Gold Rules” pressures that other state association executives have previously reported, see that, in the report linked from the text-image box that follows.

 

 

But the independent minded thinkers in MHVille need look no further than what MHI member companies that are publicly traded have said in their investor packets.

 

ManufacturedHousingIndustryShipmentsFEMAManufacturedHomesNotMobileHomesTrailersIndustryResearchReportsDataMHProNews

Credits, MHI, Cavco.

 

Skyline Champion (SKY) have said similarly.

 

3ErasMobileHomesManufacturedHomesManufacturedHousingImprovementActEraSkylineChampionShipmentProductionGraphicMHProNews

In 1998, manufactured homes (MH) outsold RVs by some 3 to 2. In 2017, RVs outsold MHs by some 5 to 1. RVs recovered far more quickly from 2008. The facts raise questions. One, is the effectiveness of MHI as the post-production or ‘umbrella’ association in the country. The other question is more sobering. Has Buffett-Berkshire “Moat” strategies kept manufactured home production at historically low levels to allow a few big boy brands to consolidate others at a discounted ‘value’ by MHI insiders?

 

There are clearly investor concerns at play, because both Skyline and Cavco are trading below where they were about 6 months ago. See those related reports, below.

Facts matter.  During an affordable housing crisis, there certainly could be some variation, but the rise in shipments could be much stronger than it has been.  See the related reports to better understand the various forces at play that arguably are artificially limiting manufactured housing – often from within.

 

Multibillion Dollar Opportunities Knock in Solving Affordable Housing Crisis

 

That’s this morning’s pre-dawn episode of “Industry News, Tips, and Views Pros Can Use,” © where “We Provide, You Decide.” © ## (News, analysis, and commentary.)

 

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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.

NOTICE: You can get our ‘read-hot’ industry-leading emailed headline news updates, at this link here. You can join the scores who follow us on Twitter at this link. Connect on LinkedIn here.

NOTICE 2: Readers have periodically reported that they are getting a better experience when reading MHProNews on the Microsoft Edge, or Apple Safari browser than with Google’s Chrome browser. Chrome reportedly manipulates the content of a page more than the other two browsers do.

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3) Marketing, Web, Video, Consulting, Recruiting and Training Re-sources

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.

Related Reports:

You can click on the image/text boxes to learn more about that topic.

“Lead, Follow … Or Get Out of The Way”

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Prosperity Now, Nonprofits Sustain John Oliver’s “Mobile Homes” Video in Their Reports

 

 

 

 

 

Latest New Residential Home Sales Data from HUD and U.S. Census Bureau

February 1st, 2019 Comments off

LatestNewResidentialHomeSalesDataFromHUDUSCensusBureaUnderConstructionMHProNews

Big-picture focused manufactured home pros should find the latest data from the U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau to be of keen interest as the latest reality check.

 

The official press release from HUD and the Census Bureau to the Daily Business News on MHProNews is followed by a brief analysis of the data.

 

 HUDCensusBureauNewResidentialSalesNov2018PressReleaseDailyBusinessNEwsMHproNews

WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential sales statistics for November 2018

 NewResidentialHomeSalesNov2018CensusBureauHUDDailyBusinessNewsMHProNews

New Home Sales

Sales of new single-family houses in November 2018 were at a seasonally adjusted annual rate of 657,000. This is 16.9 percent (±19.9 percent)* above the revised October rate of 562,000 and is 7.7 percent (±20.7 percent)* below the November 2017 estimate of 712,000.

 

Sales Price 

The median sales price of new houses sold in November 2018 was $302,400. The average sales price was $362,400. 

 

For Sale Inventory and Months’ Supply

The seasonally adjusted estimate of new houses for sale at the end of November was 330,000. This represents a supply of 6.0 months at the current sales rate.

 

EXPLANATORY NOTES

In interpreting changes in the statistics in this release, note that month-to-month changes in seasonally adjusted statistics often show movements which may be irregular. It may take three months to establish an underlying trend for building permit authorizations, six months for total starts, and six months for total completions. The statistics in this release are estimated from sample surveys and are subject to sampling variability as well as nonsampling error including bias and variance from response, nonreporting, and undercoverage. Estimated relative standard errors of the most recent data are shown in the tables. Whenever a statement such as “2.5 percent (±3.2 percent) above” appears in the text, this indicates the range (-0.7 to +5.7 percent) in which the actual percentage change is likely to have occurred. All ranges given for percentage changes are 90 percent confidence intervals and account only for sampling variability. If a range does not contain zero, the change is statistically significant. If it does contain zero, the change is not statistically significant; that is, it is uncertain whether there was an increase or decrease. The same policies apply to the confidence intervals for percentage changes shown in the tables. On average, the preliminary seasonally adjusted estimates of total building permits, housing starts and housing completions are revised 3 percent or less/

* The 90 percent confidence interval includes zero. In such cases, there is insufficient statistical evidence to conclude that the actual change is different from zero.

### End of HUD/Census Bureau Press Release

 

Facts are #NettlesomeThings.  Nettles, properly understood, can both sting but also have a medicinal element that can be used to bring healing.  That’s how we use the apt nettles metaphor.

Step back and ponder the huge spread between manufactured home sales and that of conventional housing.  Recall that the Manufactured Housing Institute’s (MHI) President and CEO, Richard ‘Dick’ Jennison promised 500,000 new home shipments.  What happened to that public pledge?

The industry’s purported ‘leaders’ were strutting around the Louisville Show on Wednesday, as if they owned the place.  Yet, the results are anemic, compared to the rest of mainstream housing. See the related reports, further below. 

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

 

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“The Illusion of Motion Versus Real-World Challenges”

 

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

 

 

 

 

 

 

Federal Economic Measures, Data at Close of 2018, and Manufactured Housing

January 17th, 2019 Comments off

FederalEconomicMeasuresDataAtCloseof2018ManufacturedHousingDailyBusinessNewsMHProNews

Certainly, retirees are among those that by homes, as seasoned manufactured housing industry professionals well know.

 

But it is routinely workers that are the present and future measure of the soundness of an economy.  So, it’s employment – jobs data – that gets attention from publicly traded companies in their reports to manufactured housing industry shareholders.

Beyond jobs data, its businesses that employ the most Americans. The Daily Business News on MHProNews reported earlier this week on the recent National Federation of Independent Business (NFIB) small business optimism report, found at the linked text/image box below.

 

Eyes on Small Business Optimism Index In December, Update

 

Paring that data with a January White House summary of 2018 jobs creation begins to round out a picture of why, despite political division in Washington, or cautions on Wall Street, main street is still largely confident of the future.

 

TheWhiteHouseLogoIconHeaderPressReleaseDailyBusinessNewsMHProNews

 

2018 Ends with 312,000 Jobs Created in December; Strong Year for the Job Market

The Bureau of Labor Statistics (BLS) released its final monthly Employment Situation Report of 2018, marking a great year for American workers and the economy as a whole. Total nonfarm payroll employment rose by 312,000 jobs in December (see figure), far exceeding market expectations (180,000) as well as besting the average monthly additions from 2017 (182,000) and 2016 (195,000).

Continuing the historic streak of positive jobs gains, 2018 experienced more job creation than the previous two years, with 2.6 million new jobs over the course of the year compared with 2.2 million in 2017 and 2.3 million in 2016. Furthermore, this growth was consistently strong throughout the year; the economy has added over 100,000 jobs every month in 2018, just the second time since 2000 that this has occurred for a full calendar year. Since President Trump was elected in November 2016, the U.S. economy has created 5 million jobs.

 

MonthlyPayrollJobGrowth2016-2018ZZBureauof LaborStatisticsManufacturedHomeIndustryDailyBusinessNewsMHProNews

There were job gains across many industries in December, including significant gains in education and health services (82,000), leisure and hospitality (55,000), and in manufacturing (32,000). Manufacturing has been a bright spot since President Trump’s election, and now averages 20,000 new jobs per month compared to 8,000 per month in the four years prior. The 284,000 manufacturing jobs created in 2018 was the most the industry has added in a calendar year since 1997. The widespread employment gains across industries also occurred for 2018 as a whole. The professional and business services (583,000) and education and health services (517,000) industries produced over half-a-million jobs each. Employment in the leisure and hospitality industry increased by 306,000 jobs. Construction employment rose by 280,000 jobs.

Wages are also rising, indicating that workers are taking home bigger paychecks. Nominal average hourly earnings rose by 3.2 percent over the year. This matches October, which posted the largest 12-month growth in nominal average hourly earnings since April 2009. The most recent inflation data from November using the Federal Reserve’s preferred Personal Consumption Expenditure (PCE) price index found that prices increased by 1.8 percent – suggesting that real wages are rising (December inflation data will be available later this month).

A separate household survey released by BLS shows that although the unemployment rate increased by 0.2 percentage points (p.p.) to 3.9 percent in December, it went up for the right reasons: more workers are coming off the sidelines and looking for work, signaling that the U.S. economy continues to hum along. The labor force participation rate, which measures the share of the civilian non-institutional population who are in the labor force (either employed or looking for work), rose by 0.2 p.p. over the month to 63.1 percent in December. Despite the unemployment rate uptick, the unemployment rate remains near historic lows. This is only the 13th month since 1970 that the unemployment rate has been below 4 percent, with 8 of these instances occurring under President Trump in 2018.

The strength of the labor market in 2018 also was widespread, affecting people of all backgrounds and education levels throughout the nation. Over the course of the year, multiple new records for low unemployment rates within demographic groups were set. In December 2018, the unemployment rate for Hispanics fell to a series low (4.4 percent), matching October 2018. Record low unemployment rates were also achieved this year for African Americans (5.9 percent in May), Asians (2.2 percent in May), and individuals with less than a high school degree (5.0 percent in July). In November 2018, the unemployment rate for teens (ages 16 to 19) was at its lowest rate since 1969. The November 2018 unemployment rate for individuals with a high school degree but no college fell to its lowest rate since 2000, while the October 2018 unemployment rate for individuals with some college education dropped to its lowest rate since 2001.

The continued low unemployment rate and the consistent employment gains of more than 100,000 jobs every month in 2018 demonstrate the effectiveness of the Administration’s economic policies. As workers continue to come off the sidelines, there also remain opportunities for sustained employment growth as we enter the new year.

 

MadeInUSAFlagHatWhiteHouse
###

The general economic data is strong. There are headwinds in the conventional housing market. So why isn’t manufactured housing performing better? That’s a $64 billion dollar a year question; on the low side.

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

 

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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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Sobering Federal Report on Manufactured Housing Lending – Retailers, Communities, Producers, and Finance Companies – Take Note

January 17th, 2019 Comments off

 

SobertingFederalReportOnManufacturedHOusingLendingRetailersCommunitiesProducersFinanceCompaniesTakeNoteBCFPDirectorKathleenLKraningerMHProNews

The rebranded Bureau of Consumer Financial Protection – formerly the CFPB, now the BCFP – has produced a January 2019 report that contains new data regarding manufactured housing lending.

 

There are over 200 pages. We’ll simplify that for busy readers.

MHProNews will hereby provide the entire document here as a download, while give readers like yourself the most relevant pull-quotes for manufactured housing.

After the quoted sections and tables, the Daily Business News on MHProNews will provide a brief and relevant analysis for manufactured home industry professionals, investors, affordable housing advocates, plus public elected or appointed officials.  The graphics are from the name of the report, that included the following quoted items.

 

BureauConsumerFinancialProtectionJan2019AbilityRepayQualifiedMortgageRulesAssessmentReportDailyBusinessNewsMHProNewsMessageFromKathleenLGrningerDirectorBureauConsumerFinancialProtectionAbilityToRepayQMReportDailyBusinessNewsMHProNews

 

7.2.1 Data and methods

Figure72CountyLevelMarketShareofSmallCreditorsin2014HMDABureauConsumerFinancialProtection

2014…

This analysis uses the non-public HMDA data described in Chapter 1.350 In the context of this chapter, any reference to “lender(s)” or “creditor(s)” only refers to HMDA reporting lenders. Estimates of small lenders in this analysis are not the complete universe of mortgage originators. The Bureau estimates that there are over 4,000 depository institutions which originate mortgages but are not HMDA reporters. Most, if not all, of HMDA non-reporters would qualify as small creditors due to their small size…

Figure73CountyLevelMarketShareofSmallCreditorsin2016HMDABureauConsumerFinancialProtection

…2016. Fewer lenders, ‘consolidation.’

Table 38 reports mortgage originations by small and non-small creditors in rural counties.366 Among small creditors, the share of total originations occurring in rural areas is much larger than for non-small creditors. This appears to be consistent with the higher likelihood that small creditors operate only or predominantly in rural or underserved areas compared to non-small creditors. The 2016a columns suggests that without the 2016 threshold amendments, the rural share of small creditor originations would have stayed the same instead of decreasing to 21…

—–

Foonote 366) The Bureau publishes a yearly list of rural and underserved counties that are exempt from certain regulatory r equ irements of the Truth in Lending A ct. Bureau of Con sumer Fin. Prot., Rural and Underserved Counties List, available at https://www.consumerfinance.gov /policy-compliance/guidance/implementation-guidance/rural-andu n derserved-counties-list/ (last v isited Dec. 31, 2018) (for the current and previous y ear’s lists).

EstimatedNumberHMDAReportingMOrtageLendersOriginationsRuralCountiesJan2019BCFPReportDailyBusinessNewsMHProNews

…percent in 2016 with the amendments. The 2016 amendments did however increase the share of small creditors operating in rural areas due to being more inclusive of larger lenders. The amendments in 20

Table 39 reports manufactured housing mortgage originations by small and non-small creditors. Manufactured housing loans make up a larger share of small lenders’ originations compared to non-small lenders. Similar to rural loan originations, these patterns are consistent with small creditors being more likely to provide access to mortgage credit for manufactured housing compared to larger creditors although the share or manufactured originations that make up a small creditor’s lending has been declining since 2012.

 

Table39EstimatedNumberHMDAReportingManufacturedHousingMortgageLendersBCFPJan2019

What Does This Reveal for MHPros, Policy Wonks, and Advocates?

Lenders in the manufactured housing space has declined during the period reported.

Put differently, manufactured lending has contracted, just as the number of retailers have shrunk.  Here is the key line.

“…small creditor’s lending has been declining since 2012.”

This has occurred in the aftermath of Warren Buffett led Berkshire Hathaway’s acquisition of Clayton Homes, other producers, retailers, and associated lenders, notably 21st Mortgage Corp and Vanderbilt Mortgage and Finance (VMF).

While making noise for several years about making the Duty to Serve by the Government Sponsored Enterprises (GSE) a reality, what the BCFP data reflects is that the opposite is taking place.

Manufactured housing professionals, investors, and advocates? This is another wake up call.  For more details, see the related reports, linked below the byline and notices.  That’s this afternoon’s Manufactured Housing “Industry News, Tips, and Views Pros Can Use,” © where “We Provide, You Decide.” © ## (News, analysis, and commentary.)

 

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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.

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Mayor Sounds Off on UMH Properties – Data, Documents, & More

October 30th, 2018 Comments off

ColumbiaTNMayorSoundsOffUMHPropertiesDailyBusinessNewsMHProNews

Mayor Dean Dickey of Columbia, Tennessee was asked to comment via video about Countryside Village location of UMH Properties.

 

As a housekeeping note for this report, recent data and information from UMH Properties (UMH) will be laced between some other commentary which may not be directly related to the slide/illustration shown.

 

 

The video comment by Mayor Dickery are pleasant, but frankly it isn’t compelling dialogue.  The video is grainy, so the Daily Business News on MHProNews shrank the image to make it appear better. Full size, it is not very clear, which may reduce its impact for possible viewers.

 

 

That said, the idea to ask a mayor for comments can be prudent. Done professionally, it can be powerful.  This UMH video thus provided a ‘compare and contrast’ ‘teachable moment’ opportunity that public officials can be asked for statements, but also reveals how that can best be done. An example of how that is accomplished is found on MHLivingNews, and is also shown in the video below. Compare the two videos, and then push onto the latest UMH data.

 

 

These videos provide a backdrop to new data, documents, and images from UMH Properties, one of the largest manufactured home community operators in the U.S.  The video below is from their 50th anniversary annual meeting last year.

 

 

UMH is headquartered in a state that is not currently too manufactured housing friendly. Most of UMH’s locations are in other states. With a GOP contender Bob Hugin in surprisingly in striking distance in the deep blue “Garden State” of a scandal-ridden Senator Bob Menendez (NJ-D), this is also a reminder that the midterms are the time to vote for pro-business, pro-growth politicos.

 

2UMHLogoCommunityCollageIRPresentationSept2018DailyBusinessNewsMHProNews

The right zoning, finance, and other placement policies in New Jersey – and the other 49 states – could open up a number of new home sales options in a state that has outrageously high housing costs.

 

StatesofUSDailyBusinessNewsMHProNewsNJ#11

NJShipmentDataComparedtoUSAug2018ManufacturedHousingIndustryDailyBusinessNewsMHProNews

 

Sam Landy, JD, president and CEO of UMH Properties (UMH) has taken an interesting view when local media has come after his company for this or that reason.

 

3CompanyOverviewInvestorPresentationDailyBusinessNewsMHProNews

Landy has said they welcome the media oversight.

4ExtensiveCompanyHistoryInvestorPresentationDailyBusinessNewsMHProNews

That’s an arguably refreshing view, compared to the silence that often comes from the Manufactured Housing Institute (MHI) when a post-production issue is called into question.

5FavorableHousingTrendsPresentationDailyBusinessNewsMHProNews6UMHPropertiesPorfolioLocationSnapshotIRpresentationDailyBusinessNewsManufacturedHomeCommunitiesIndustryMHProNews

 

Landy has also stood up against rent control, see that, linked here.

 

7UMHPropertiesPorfolioOccupancyByLocationsIRpresentationDailyBusinessNewsManufacturedHomeCommunitiesIndustryMHProNews

Speaking of post-production, a call from a legal operation today that came to MHProNews may signal a new legal issue over the horizon.  MHI was mentioned as part of that inbound phone conversation.  As information develops, and that may take time, the industry’s pros will want to know.  If you aren’t already on our industry-leading emailed news list, click here to sign up free in seconds.

 

8UMHPropertiesRentalCapacityByStateIRpresentationDailyBusinessNewsManufacturedHomeCommunitiesIndustryMHProNews9UMHPropertiesPortfolioGrowthIRPresentationDailyBusinessNewsManufacturedHomeCommunitiesIndustryMHProNews

The UMH data is useful not only to investors, but to other industry professionals for a variety of reasons.

 

1oUMHPropertiesSamePropertyNetOperatingIncomeGrowthIRPresentationDailyBusinessNewsManufacturedHomeCommunitiesIndustryMHProNews

It is also a reminder that while occupancy for manufactured home communities is rising – not only at UMH, but nationally too – it foreshadows a coming ‘wall’ for producers, if the industry’s leaders fail to address the numerous SWOT issues that MHProNews and/or the Manufactured Housing Association for Regulatory Reform (MHARR) have raised for years.

11UMHPropertiesRentalUnitIncomeIRPresentationDailyBusinessNewsManufacturedHomeCommunitiesIndustryMHProNews

 

Some of these topics are not raised by other in industry trade media. Why not?  Is it because it would prove embarrassing for the Manufactured Housing Institute (MHI), which other publishers are often paid mouth-pieces for – via ads or other gimmies?

 

12UMHPropertiesPaceOpportunitisticAquistionsIRPresentationDailyBusinessNewsManufacturedHomeCommunitiesIndustryMHProNews

13UMHPropertiesAquistionExampleIRPresentationDailyBusinessNewsManufacturedHomeCommunitiesIndustryMHProNews

Speaking of MHI, almost a week has gone by since MHARR published an update from HUD about an issue that MHI was also advised of by HUD.  Why didn’t MHI email their own members?  They’ve sent out other messages, why not on this topic of interest to retailers and communities?  ICYMI, or need a refresher, see the linked report, below.

 

HUD “Clarification” on Frost-Free IB Offers More Questions and Confusion Than Answers

 

The potential for growth in manufactured housing is nothing short of astonishing.  But so long as short sighted, gutless, red-herring, fig-leaf, and/or manipulative strategies are in place that harm smaller firms to the long-term gain of ‘big boy’ producers, the industry will remain limited.

14UMHPropertiesExpansionOpportunitiesIRPresentationDailyBusinessNewsManufacturedHomeCommunitiesIndustryMHProNews

That’s avoidable for individual firms. As UMH President Landy has said to MHProNews, it is up to individual companies to do their own marketing and sales.

 

 

The video above opens with a UMH community manager, who praised the energy and insight brought to this industry by our publisher.

As a disclosure, the data from UMH hereby presented are not a specific recommendation.  The screen captures shown are some key points, but the entire IR presentation is located at this link here as a download. We hold no position in UMH, or other companies that are among the tracked stocks presented each business day’s evening.

The closing numbers on UMH, as well as all other manufactured home communities, and manufactured industry, tracked stocks are found at this link here.  The closing ticker graphic shows the 52 week trend, and the daily moves can be monitored nightly in our exclusive reports.

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

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Fed’s Powell “Remarkably Positive Outlook,” Plus Manufactured Housing Market Updates

October 2nd, 2018 Comments off

CNNmoney10.1.2018ManufacturedHomeStocksMarketsReportsMHProNewsThere is a steady stream of positive economic, consumer confidence, business and investor confidence news. The positive economic news stands in stark contrast to the roughly last 9 years before the 2016 election, when huge borrowing and a series of “QEs” – “Quantitative Easing” – artificially propped up an economy that was being strapped down by heavy regulations and taxes too.  Today, Federal Reserve Chairman Jerome Powell talked at an economic forum about the economic outlook, which will be our focus report for this evening.

 

If you’re new, already hooked on our new spotlight feature – or are ready to get the MH professional fever – our headline report is found further belowafter the newsmaker bullets and major indexes closing tickers.

The evolving Daily Business News market report sets the manufactured home industry’s stocks in the broader context of the overall markets.  Headlines – at home and abroad – often move the markets.  So, this is an example of “News through the lens of manufactured homes, and factory-built housing.” ©

Part of this unique evening feature provides headlines – from both sides of the left-right media divide – which saves busy readers time, while underscoring topics that may be moving investors, which in turn move the markets.

Readers say this is also a useful quick-review tool that saves researchers time in getting a handle of the manufactured housing industry, through the lens of publicly-traded stocks connected with the manufactured home industry.

This is an exclusive evening or nightly example of MH “Industry News, Tips and Views, Pros Can Use.” © It is fascinating to see just how similar, and different, these two lists of headlines can be.

Want to know more about the left-right media divide from third party research?  ICYMI – for those not familiar with the “Full Measure,” ‘left-center-right’ media chart, please click here.

MediaBiasChartSharylAttkissonLeftRightPostedDailyBusinessNewsMHProNews

Full Measure’s Sharyl Attiksson’s media bias chart is useful in sorting out the agendas behind various headlines and news sources. http://www.mhpronews.com/blogs/daily-business-news/no-fire-just-smoke-and-democratic-clinton-supporter-says-enough/

 

Select bullets from CNN Money…

  • Tencent Music plans to go public on US exchange
  • The markets are soaring. How should investors play it?
  • A llama, bagel and frisbee: Apple’s new iOS 12.1 emoji
  • Tesla calms fears with strong sales numbers
  • Uber hires Expedia exec to fill HR role
  • Volkswagen dumps jailed Audi CEO amid emissions probe
  • Can GE’s new boss right the ship?
  • GE unexpectedly removes its CEO
  • Goldman Sachs’ new CEO has a lot of work to do
  • Goldman Sachs slants research to help Democrats, top White House adviser says
  • New York Times says it was a mistake to enlist writer who posted anti-Kavanaugh tweet to report on him
  • Microsoft co-founder Paul Allen is being treated for cancer
  • Stocks pop after new US-Canada-Mexico deal
  • Jemele Hill is joining The Atlantic
  • Don’t fall numb to this Facebook hack
  • There was only one White House press briefing in the entire month of September
  • California has a new law: No more all-male boards
  • Katie Couric: News need more diversity at the top
  • Washington Times settles lawsuit with Seth Rich’s brother, issuing a retraction and apology
  • California just passed its net neutrality law. The DOJ is already suing
  • Elon Musk agrees to pay $20 million and quit as Tesla chairman
  • Facebook hack exposed 50 million users’ info
  • New York DA probing allegations of sexual misconduct at CBS
  • Murdoch family made big money off the Disney-Fox deal
  • SEC charges LendingClub unit with mishandling investors’ money
  • 10 years after the crisis, some investors are still scared of stocks
  • Amazon’s newest physical store has a twist
  • JCPenney now has no CEO or CFO
  • These 3 startups are here to save local news in their communities
  • Ted Turner reveals he has dementia
  • How to catch up on retirement savings in your 50s

Select Bullets from Fox Business

  • Dow continues to rally, climbs to new record
  • Online sales taxes take effect in these states
  • High-tax New York towns to battle IRS over SALT cap workaround
  • What went wrong at General Electric
  • Why these stores will be closed on Thanksgiving
  • Amobee CEO Kim Perell, a self-made millionaire, reveals the secret to success
  • The Air Force is getting a new uniform
  • As a newly-minted US citizen, I did not sign on to the rule of a Democrat mob: Varney
  • C. Penney taps Jill Soltau as new CEO to lead turnaround
  • CEO departures are on the rise. Here’s a list of the big ones
  • New trade deal unites US allies against China: Kevin Hassett
  • The key parts of Trump’s new trade deal with Canada, Mexico
  • Wilbur Ross: New NAFTA deal a ‘win’ for US dairy
  • Auto sales dinged as interest rates spike
  • Musk tells Tesla employees to prove ‘naysayers’ wrong
  • Delta partners with CarePod to improve pet travel
  • Fed reportedly reconsiders standards of a big bank
  • Facebook could face massive fine in Europe after data breach
  • Amazon raises minimum wage to $15 for US employees
  • NASCAR Cup Series race team is a family affair
  • TriStar Motorsports keeps a family tradition alive at the racetrack.

 

Today’s markets and stocks, at the closing bell…

9MarketIndicatorsYahooFinance10.2.2018DailyBusinessNeawsManufacturedHousingIndustryStocksMarketsReportsDataMHProNews

 

Manufactured Housing Composite Value (MHCV)

YahooFinanceManufacturedHousingCompValue10.2.2018DailyBusinessNewsStocksMarketsDataReportsMHProNews

Today’s Big Movers

For all the scores and highlights on tracked manufactured home connected stocks today, see thBloomberg graphic, posted below.

Today’s MH Market Spotlight Report –

Among the points that left-of-center CNBC rarely mentions when it comes to the FED and the economy today vs. the Obama era is this.  QE was a fancy phrase for ‘printing money’ by the FED. It was an artificial way of propping up the economy.  Besides all the positive economic news, often overlooked is the fact that the Federal Reserve has been “unwinding” those holdings that kept the markets artificially higher.

Wolf Street, not CNBC, reported in August that “The plan calls for shedding up to $420 billion in securities in 2018 … Since the beginning of the QE-Unwind, the Fed has shed $129 billion in Treasuries. … In total, $61 billion in MBS have been shed since the beginning of the QE unwind.” 

That’s arguably another example of how a media outlet’s hidden agenda can subtly-to-boldly ‘spin’ the news.  It’s one of several reasons why MHProNews cites headline bullets each evening from CNN Money and Fox Business, which at least provides some balance to the otherwise hyper-partisan way that news is often reported.

That said, let’s look at what CNBC said this evening about Chairman Powell’s comments.

 

  • Federal Reserve Chairman Jerome Powell cited a “remarkably positive outlook” for a U.S. economy enjoying both low unemployment and inflation.
  • A reporter asked Powell after last week’s Fed meeting whether the outlook was too good to be true,” and he said it was “a reasonable question.”
  • In a speech Tuesday, the central bank chief said the jobless rate is running at 3.9 percent and inflation is around the Fed’s goal of 2 percent. Historically, low unemployment has fueled inflation and sometimes has forced the Fed into hiking interest rates rapidly.
  • While these two top-line statistics do not always present an accurate picture of overall economic conditions, a wide range of data on jobs and prices supports a positive view,” Powell told economists at a Boston conference. “In addition, many forecasters are predicting that these favorable conditions are likely to continue.”

Related Reports:

Near All-Time Record, Confidence Means MORE Sales and Business

USMCA: President Trump Announces NAFTA Replacement Promise Made, Kept – Stocks Soar, plus MH Market Updates

“Results vs. Resistance,” Cutting Fog with Facts for MHVille

 

Bloomberg Closing Ticker for MHProNews…

NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services.

NOTE: The chart below covers a number of stocks NOT reflected in the Yahoo MHCV, shown above.

NOTE: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).

10.2.2018DailyBusinessNewsManufacturedHousingConnectedMarketReportsBloombergMHProNews

Berkshire Hathaway is the parent company to Clayton Homes21st Mortgage, Vanderbilt Mortgage and other factory built housing industry suppliers.

LCI Industries, Patrick, UFPI and LP all supply manufactured housing.

AMG, CG and TAVFX have investments in manufactured housing related businesses.

Your link to industry praise for our coverage, is found here.

For the examples of our kudos linked above…plus well over 1,000 positive, public comments, we say – “Thank You for your vote of confidence.”

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsWe Provide, You Decide.” © ## (News, analysis and commentary.)

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

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

2018’s Hardest-Working States in America, How Does Your State Rank?

September 3rd, 2018 Comments off

2018HardestWorkingStatesAmericaHowDoesYourStateRankPxWalletHubDailyBusinessNewsMHProNews

Labor Day is as good a time as any to see how the fifty states rank in terms of which state workers are said to be harder workers, or less so.

 

The source of the data is Wallet Hub.  Here are some of the main metrics they used to determine their ranking.

WalletHubTopHardWorkingStatesMetricsfor50StatesRanking2018DailyBusinessNewsMHproNews

Using those metrics above, here are the 50 states ranking, per Wallet Hub, from hardest working at the top, to the least hard working at the bottom.

WalletHubsTopHardWorkStates50StatesRankedChartByWorkerHoursMetrics

Wallet Hub also says, “Americans are hard workers, putting in an average of 1,783 hours per year, according to the World Economic Forum. That’s about 300 hours per year more than Germans work, but about 450 less than Mexicans do.

Even when given the chance to not work as hard, many Americans won’t. In fact, 52% of Americans didn’t use all of their available vacation days in 2017. However, while it may seem as if workers are happily pursuing the American Dream, many individuals’ reasons for working hard may not be so pleasant. Some fear that if they take time off they will look less dedicated to the job than other employees, risking a layoff. Others worry about falling behind on their work or worry that the normal workflow will not be able to function without them.”

The Daily Business News on MHProNews suggests is not endorsing the study or methodology.  Our team knows professionals in some supposedly low-ranking states that are hard workers by anyone’s definition. But this report is worth spotlighting, because it is one that mainstream media is touting once again this year.  WalletHub is a personal finance website.

June2018ManufacturedHousingProductionDataDailyBusinessNewsHUD-IBTS-MHProNews-277x768

MHProNews suggests you compare the Wallet Hub chart with the top states in manufactured housing production, as a more industry-focused reference.

Top10ManufacturedHousingshipments2018CummulativeManufacturedHousingAssocRegulatoryReformMHARRTXLAFLALNCMSCAKYMITN-DailyBusinessNewsMHProNews

As Labor Day winds down, it’s worth mentioning that Bloomberg reports more Americans are eating steak this year for the holiday. It’s one of several signs that the economy and wallets for millions have improved in the 19 months since President Donald J. Trump was sworn into office, with a pro-worker, pro-business agenda.  That’s “News through the lens of manufactured homes, and factory-built housing,” © where “We Provide, You Decide.” © ## (News, analysis, and commentary.)

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

1) To sign up in seconds for our MH Industry leading emailed news updates, click here.

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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.

2) To provide a News Tips and/or Commentary, click the link to the left. Please note if comments are on-or-off the record, thank you.

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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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Follow the Money – Surprising, Inconvenient Truths Impact Manufactured Housing, U.S. Economy, and More

Professional, Investor Alert “Brace Yourself, This is How Much America’s 1 Percent Has Saved”

Fresh Facts, Figures, Future of Affordable Housing -Comparisons- Conventional Site-Built v Mobile/Manufactured Home Industry Data