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6 Months In – Housing, Markets Update

July 31st, 2017 Comments off
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Image collage by MHProNews/Pixabay.

Since the election on November 8, 2016 the market has seen a relatively steady increase as one-in-four days the stock market has been open ending with record highs.

The S&P 500 and Nasdaq both closed with record high’s yet again on Wednesday – with 28 record breaking days since President Trump took office in January.

Another high has been hit on the markets since.

The S&P 500 and Dow have gained roughly 9% since Trump took office, while the Nasdaq is up almost 15%,” per CNN Money.

Consumer confidence has reportedly improved too.  In the second quarter Americans spent more than the first, which is the most influential contributing factor to a healthy economy, according to MarketWatch, which said, “Spending rose 2.8% in the second quarter as Americans bought more groceries and clothes and paid more for health care. They spent less on new cars and trucks, however.”

“A smaller lift came from business,” per MarketWatch. “Firms increased fixed investment just 2.2% in the spring after a 8.1% gain in the first quarter, when enthusiasm for the new pro-business Trump administration may have triggered a jump in corporate spending.”

Companies have invested more in equipment and computers since the beginning of the year, but many corporations also reduced their inventory for the first time since 2011.

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Keep in mind that the president said he would allow expensing such items, and there is still talk in tax reform plans of making such purchases retroactive to the first of this year.  As Jim Clayton told MHProNews, “MH Community and Manufacturing Operators – along with others in business – get to expense expansion cost under the president-elect’s proposals. WOW! What a nice surprise!

However as spending increased, and while wages are rising modestly, inflation is also slowing.

Although growth is solid, the lack of wage pressure buys the Fed plenty of time, and works with a very ‘gradual’ tightening cycle,” said Alan Ruskin, global head of G10 FX strategy at Deutsche Bank in New York. “There is more here for the Fed doves than the hawks.”

Inflation slowed to an annual rate of 0.3% in the second quarter from 2.2% in the first, as measured by the personal-consumption expenditures price index, or PCE,” per MarketWatch.

But what those analysts failed to mention is what MHProNews reported, namely, that the drop in energy and fuel prices has also slowed inflation.  These are areas where media bias can creep in, even into economic reports.

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MHProNews strives to keep media tilt in mind, to help sort out the unstated agendas behind various reports. Full Measure’s Sharyl Attiksson’s media bias chart, above, is useful as one tool in sorting out the agendas behind various headlines and news sources. MHProNews uses others too.

Regular Daily Business News readers may recall recent articles that look at the issues of minimum wage and a move toward supply and demand equilibrium.

Home Building and Residential Investment Drop

According to MarketWatch home building and residential investment are still down even in this growing economy. This could be due to a number of factors ranging from a busier winter building season due to severe weather delays prior, difficulty finding inexpensive lots, and lack skilled workers, per Market Watch.

Home builders also scaled back investment by the most in seven years after piling money into new properties for two quarters in a row.

Residential investment sank 6.8%, partly reflecting weather patterns that led to higher than normal construction in late winter and less home building in the spring.”

The MH Option In Meeting Housing Demand

While we’re seeing a slight uptick over the summer the number of homes being constructed are not close to meeting the demand for housing.

Manufactured homes once again poses a solution to many of the problems seen in the current housing market.

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  • exclusive commentary by DJ Pendleton of the Texas Manufactured Housing Association on the placement issue, linked here;

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  • plus the hottest read on the site today, an analysis linked from the image below – all point to the possible opportunities – and road blocks – that keep manufactured home sales from rising rapidly into the hundreds of thousands of new homes per year.

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The real economy remains in good shape,” said Andrew Hunter, U.S. economist at Capital Economics.

Things are definitely looking up for the stock market so far under the Trump Administration. Stocks are up, businesses are investing in equipment and consumers are spending more – it’s definitely the start of things finally heading in the right direction. # #

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

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

 

 

 

 

 

 

Sunday Morning Weekly Recap – Manufactured Housing Industry News – December 3rd, 2016 – December 11th 2016

December 11th, 2016 Comments off

sunday-morning-weekly-manufactured-home-pro-news-recap-1-4-to-1-10-2015-mhpronews-com-As December rolls on, a new set of featured articles are found on the MHProNews.com home page. Our theme for this month is: DAAD = Dramatic! Advent! Adventure! December 2016!

To see the line-up of over 3-dozen featured articles for this month, along with the headline commentary, please click the link above.

Manufactured, modular and prefabricated home professionals know that how a home got to its location should not define a person or their dwelling.

 

What the Daily Business News spotlights day-by-day are the tragedies, triumphs and struggles for acceptance of the obvious solution for millions for the growing affordable housing crisis in the U.S. and beyond.

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When you read the lineup for the month found on the home page, you can reflect on another motto as you chart your own professional path ahead: “We Provide, You Decide.”  ©

 

What’s New On MHLivingNews

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Clayton Home Building Group Donates New Home to Alabama Resident in Need, Video

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Trailer Park Boys movie photo. Credit: Andrew Vaughan, Canadian Press.

No Longer “Trailer Trash” – Manufactured Homes are Quality, Affordable Housing

 

What’s New On MHProNews

Saturday December 10th, 2016

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Inside Info on the Power Behind the Throne at HUD – Deputy Secretary; Plus More on Dr. Carson

 

Friday December 9th, 2016

“Flat-Pack” Modular Homes Proposed to Help Solve Housing Crisis

Carlyle Leads, Manufactured Housing CV Gains, Broader Markets, Russell & MidCap 400 New Highs

KODA – the 7-Hour Assembly Prefab

MH Communities Giant Equity LifeStyle Properties Investors, Stock Moves

 3SundayMorningWeeklyRecapManufacturedHousingIndustryNewsDec3rd2016Dec10th2016-postedtoManufacturedHousingIndustryDailyBusinessNewsMHProNews

City Council Tables Manufactured Home Ordinance, Industry Pro Speaks Out

 

Thursday December 8th, 2016

Manufactured Housing CV Up Again, Skyline, Broader Markets Continue 2016 Record Pace

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CFED, Others Decry Possible Fate of the CFPB: What Will Trump Do?

Killam Receives Updated Rating from Analysts

MHARR on Trump, Dr. Carson for HUD, Finance, Exclusive Report and Analysis

Contractor in Fight Over Tiny Home

 

Wednesday December 7th, 2016 

Skyline Skyrockets, Big Day for Manufactured Housing CV, Dow Jumps-New Record High

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MHCs and Rent Control – Cure or Cause for Affordable Housing Crisis?

Kashechewan First Nation Return Home, New Modular Housing Welcomes Them

NYS Homes, Community Renewal Announce Program to Replace old Mobile/Manufactured Homes

 

Tuesday December 6th, 2016

 SKY, AMG Risers on Manufactured Housing Comp Value, Markets Moving Up

 Open for Biz! Trump announces Japan’s SoftBank investing $50 billion in US, aiming 50,000 jobs, Video

 Prefab Homes That Can Be Taken With You When You Move

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Donald Trump Nominates Ben Carson as Housing Secretary, MH Views & Videos

Tifanee, Victoria and MHWC say, “Go Louisville!”

HUD Code Manufactured Housing Production Continues Growth

  

Monday December 5th, 2016

Gains for Skyline, Universal Forest Products, Manufactured Housing CV Jumps, Dow Sets New Record

Manufactured Housing Leads the Way for State Encouraging Innovation

The Tesla of Modular Homes? Going “Premium” Green

How Manufactured Housing Helps Life Flight Save Lives

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Dodd-Frank: Clintons, Buffett, Trump and What it all Means

 

Sunday December 4th, 2016

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Sunday Morning Weekly Recap – Manufactured Housing Industry News – November 27th – December 3rd, 2016. ##

(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.

Could the Dow Jones Drop 1,000 Points? History says Maybe

August 24th, 2015 Comments off

forbes creditIn the wake of the Dow Jones’ precipitous fall of 530 points last week, Brett Arends, writing for marketwatch, says while the “perma bulls,” as he calls them, are gloating while the stocks continued ascending with barely a hitch, to characterize this as another buying opportunity he says is nonsense.

While stocks may bounce back temporarily, without being an alarmist it’s possible the Dow could conceivably fall to 5,000. He says for 30 years the stock market has been buoyed by falling interest rates and manipulation by the Federal Reserve—the latest being the quantitative easing to boost the economy—and a fall of 70 percent cannot be totally discounted, as MHProNews understands.

Let me say on the record that I am not joining the perma-bears or extreme doom-mongers. I am simply pointing out that the perma-bulls have taken their own arguments way too far. The stock market is not doomed to collapse to oblivion, as some hysterics keep claiming. But it is not certain to keep going up by 10% a year, either. All those claiming that every sell-off is a buying opportunity, and that stocks ‘always outperform,’ are lying to you,” says Arends.

Stock market history indicates the market has moved in long upward and downward swings, and we might be in the downward trajectory that began in 1982. He says, “Those big downward moves have not ended until share valuations have fallen to just 30% of the replacement cost of company assets.

Using a metric tool called tobin’s Q, which has been the most accurate measuring stick of any stock market indicator—better than price-to-earnings ratios or economic growth rates or long-term interest rates—says Arends, ”The “q” looks at the net asset values of public companies and adjusts them for inflation. It makes some intuitive sense. Why would Widget Inc. be valued at $1 billion on the stock market if you could start the company from scratch for a lot less?

Currently, the reading on the “q” is 100 percent, but it has averaged 70 percent since WWII, so if the Dow fell to its modern average valuation, it would be 12,000. If we consider the years 1949 to 1994 before the boom of the late 1990s, the average was 57 percent, which would reduce the Dow to around 9,500. Worst case scenario would see the Dow fall to 5,000, its historic bear market lows—30 percent of its current value.

He reminds us that at some point all the artificial stimulants will have to end, and while it is not likely the Dow will fall that far, that possibility should not be ruled out. The real danger, he adds, is that 99 percent of the people managing America’s money do not believe it is possible.

While few if any in MH would publicly say they want this to happen, if it did, with the right educational/marketing effort there could be a silver lining for manufactured housing. ##

(Image credit: forbes)

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

Sunday Morning Recap-Manufactured Housing Industry News Aug. 16-Aug. 23, 2015

August 23rd, 2015 Comments off

mhpronews_sunday_morningWhat’s New in public focused Manufactured HomeLivingNews.com

What’s New in Manufactured Housing Industry Professional News

PBS Story on MH Finance Due. Sun, UMH, Adding Communities, Lippert to Add Workers. Major Patrick Shareholders Unload. CA City Welcomes MH. 3D Printed Home, Auto Charge each Other. Datacomp Offers new Valuation for MH. Mods Blooming in Australia, Nigeria, Honolulu, FL Keys, South Africa. Dow Drops Sharply. Much, much more news and views.

Saturday, Aug. 22

New Owners of Land Lease Community Bring Applause from Residents

Friday, Aug. 21

Two Age-Restricted Manufactured Home Communities sold to Kingsley

PBS Segment on Manufactured Home Lending; MH Pros Need to Work Together

MHCV Inches Up, while Dow, Nasdaq and S&P Plunge Sharply

Commercial Modular Housing Taking Root Down Under

CA City to Allow Manufactured Homes Among Conventional Housing

Equity LifeStyle Properties Stock Targeted at $66.00

Thursday, Aug. 20

Irish Modular Homes Planned for Affordable Housing in Nigeria

Dow, Many Stocks Drop Sharply; MHCV Falls -3.83%

UMH Properties Continues its Acquisition of Land Lease Communities

Existing Home Sales Hit Highest Level in Eight Years

Lippert to Add 125 Workers in New Haven, Indiana

Major Shareholders of Patrick Industries Continue Unloading Stock

Wednesday, Aug. 19

Sun Completes Transactions on Six Communities, Secures Line of Credit

Deer Valley Spikes, Dow Takes A Hike, Google Hit by Lightning Strike

July Housing Starts Reach Highest Level since Oct. 2007, Led by Single-family

Modular Container Units will House Homeless in Honolulu

California City Relinquishes Enforcement of Land Lease Communities

Insider Trading Noted at UMH Properties, Inc.

Tuesday, Aug. 18

Patrick Industries’ Shares sold by Major Shareholder

Cavco Tops MH Gainers, MHCV Slips

Home Builder Sentiment Measures Near Ten-year High

Gated Community of Ten Modular Homes to Rise in Florida Keys

Datacomp Announces new Valuation Tool to Comply with Higher-Priced Mortgage Loans

3D Printed Automobile and Home Energize Each Other

Monday, Aug. 17

Container Homes in South Africa face Lending Challenge similar to U. S. Manufactured Homes

Louisiana Pacific Gains Nearly 6% in Two Straight Trading Days

Bill would Give a Voice to Smaller Lenders within the Consumer Financial Protection Bureau

Manufactured Home Community Owners, Residents at Odds over Infrastructure Repairs

Sunday Morning Recap-Manufactured Housing Industry News Aug. 9-Aug. 16, 2015 ##

(Photo credit: MHProNews)

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

Home Prices Notch Double Digit Growth

November 26th, 2013 Comments off

In yet another measure of the housing market recovery, the S&P/Case Shiller Home Price Index reveals home prices rose 11 percent from a year ago, the first year-over-year double digit gain since early 2006, before the housing bubble hit its high. The gain over last quarter was three percent, following a seven percent increase from Q2 2013. David Blitzer, of S&P Dow Jones, says, “The data suggest a market beginning to shift to slower growth rather than one about to accelerate,” in response to others’ concerns that the housing market is beginning to form another bubble. As CNNMoney tells MHProNews, mortgage rates remain at historically low rates, although they have risen in recent months; but the rebound in home prices also means fewer borrowers are in underwater loans, freeing them up to sell their homes and perhaps buy another one, which also spurs the return of the housing market. This Case Shiller index examines single-family home prices across nine Census Bureau divisions.

(Image credit: globest.com–housing market recovery)

Existing and New Home Sales Rising

June 25th, 2013 Comments off

New home sales rose 2.1 percent in May over April, according to Commerce Dept. figures, the highest rate since 2008. The S&P Case Shiller home price index (HPI) of existing homes rose 12.1 per cent from last year, the best rate in seven years, according to what David Blitzer of Dow Jones S&P tells abcnews. In addition, the survey of 20 major metro areas show average home prices rising in all 20 cities. He says: “The most recent Fed Senior Loan Officer Opinion Survey shows that some banks are easing credit restrictions. Given this, the recovery should continue.” Stan Humphries, Zillow’s chief economist, says, “The housing market worm has turned over the past few weeks – inventory levels are beginning to show signs of easing, and mortgage interest rates are creeping up. Going forward, both of these factors will help mitigate extreme price spikes caused by very strong housing demand and very low housing supply.” As MHProNews has learned, he says while the recovery is strong and sustainable, prices will not continue rising at the current rate.

(Photo credit: Reuters)

Sun is Shining

February 18th, 2013 Comments off

SeekingAlpha tells MHProNews MHC owner Sun Communities, Inc. ranks number five of the REITS (real estate investment trusts)in the tax advantaged and high yield sector with a 5.56% annual yield. The Dow Jones REIT Index peaked at 356 in 2007, dropped to 86 two years later, and came back to 280. Sun owns 159 properties, 141 of which are manufactured home communities. 49 percent of the 2012 dividend was taxable. Sun closed up +0.88% Friday at 45.69.

(Image credit: Sun Communities, Inc.)

Sun Shines Again

November 19th, 2012 Comments off

According to SeekingAlpha, the Dow Jones Equity REIT (real estate investment trust) Index rose quicker than popular stock averages until the beginning of 2007, then fell from a high above 360 to a low under 100, and for the last two years has been over 200. REITs are considered yield securities, and many dividends have tax advantage. As MHProNews has learned, REITs buy or build additional properties to increase their rental income to obtain added dividends. Sun Communities, Inc. is identified as one of the REITs with a high stock yield at 6.6% and largely tax free. Sun operates 165 MH and RV communities with over 57,000 developed sites.

(Photo credit: Sun Communities, Inc.)

Composite Metro House Values Edge Up

October 31st, 2012 Comments off

Standard & Poor’s Case/Shiller Index reports in HousingWire U.S. home prices nudged up 0.9 percent in August over July in 19 of the 20 metro areas surveyed. Overall, the ten-city composite index saw an annual price increase of 1.3 percent, while the 20-city composite climbed two percent over last year. Individually, Phoenix experienced an increase of 18.8 percent in home values from a year ago, posting its fourth consecutive double-digit rise in home prices. MHProNews has learned three cities registered annual losses in home values: Atlanta fell 6.1 percent, New York declined 2.3 percent, and Chicago dropped 1.6 percent. David Blitzer, chairman of the Index Committee at S&P Dow Jones Indices, says, “ News on home prices confirms other good news about housing. Single family housing starts are 43% ahead of last year’s pace, existing and new home sales are also up, the inventory of homes for sale continues to drop and consumer mortgage default rates are reaching new lows.”

(Image credit: etftrends)

Default Rates Decline

July 18th, 2012 Comments off

MHProNews has leaned from NationalMortgageNews the default rate for both first and second mortgages declined May to June, 2012, with first mortgages defaulting at a May 2007 level, and second mortgages at an eight year low. The composite drop was from 1.5% in May to 1.41% in June, according to S&P/Esperian numbers. In addition, bank card defaults dropped from 4.35% in May to 3.97% in June, reaching its lowest level since the end of 2007. David Blitzer, managing director of S&P Dow Jones indices, says, “Consumer default rates are falling and we are approaching new lows across most loan types. In the last recession most default rates peaked in the spring of 2009; since then the decline has been bumpy but consistent.”

(Image credit: TotalMortgage)