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Historic Manufactured Housing Industry Decisions Were Made Here on 3.27.2019

April 2nd, 2019 Comments off

 

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In a statement today to recapping what they are calling Bold New Initiatives,” the Washington, D.C. based Manufactured Housing Association for Regulatory Reform (MHARR) is taking aim at issues to get to some underlying challenges facing manufactured housing going that arise from post-production scenarios.

 

MHARR and its members have kept these items under close wraps, as the Daily Business News on MHProNews learned about these core details through this release.

Here was the full MHARR statement today.

 

MHARRNEWSheaderDailyBusinessNewsMHProNews

 

MHARR BOARD HOLDS HIGHLY PRODUCTIVE

MEETING — ADOPTS BOLD NEW INITIATIVES

 

Washington, D.C., April 2, 2019 – Despite producing its best homes ever, at a price point that is inherently affordable for virtually every American family, in a market environment featuring an ever-growing need for affordable homeownership and housing resources, the production and market-share of the federally-regulated manufactured housing industry continues to lag well behind not only the single-family housing market as a whole, but also the twenty and thirty-year historical production norms for the HUD Code industry itself.  Confronting, as it does, a myriad of factors and challenges in the post-production arena that have combined to stunt the growth and expansion of the industry to levels far below what would otherwise be expected given an expanding population, job growth, and a prospering economy, the Manufactured Housing Association for Regulatory Reform (MHARR), at its March 27, 2019 Board of Directors meeting, adopted a bold plan of action to begin addressing key issues that the broader industry has failed to resolve, which have paralyzed the HUD Code market after the industry’s outstanding homes leave the factory. In addition, to lead this aggressive agenda, MHARR members elected an experienced slate of Association officers, to be led by John Bostick, President and CEO of Sunshine Homes, Inc., who will return as MHARR Chairman.

MHARR members, at their bi-annual Board of Directors meeting, identified, in particular, three post-production-related matters that, both short and long-term, have vexed the industry and American consumers of affordable housing, and the ability of the industry as a whole to fully serve the housing needs of vast numbers of Americans, contrary to both the letter of federal law and the will and intent of Congress, as set out quite plainly in both the Manufactured Housing Improvement Act of 2000 with regard to production and consumer protection, and the “Duty to Serve Underserved Markets” (DTS) provision of the Housing and Economic Recovery Act of 2008 (HERA) with regard to affordable and competitive consumer financing. These matters, which will now become the major focus of MHARR activity to take the lead within the industry to fully and completely implement both such existing laws, include:

(1) exclusionary/discriminatory zoning mandates;

(2) other placement restrictions or exclusions (principally affecting the development of manufactured housing communities); and

(3) the availability of consumer financing.

Discriminatory zoning – zoning restrictions or exclusions targeted at manufactured housing and manufactured housing consumers over large areas of the United States, and the failure of the broader industry to effectively fight and address those mandates – is a crucial aspect of the industry’s inability to expand and better serve the housing and homeownership needs of large numbers of Americans. To begin addressing this issue with the urgency that it deserves and warrants, MHARR will work cooperatively with state-level industry associations to target a sample set of localities with major and/or obvious discriminatory prohibitions against HUD Code manufactured homes, and, following appropriate fact-finding, will mount an aggressive campaign against those prohibitions, including litigation, if necessary, to the highest level that may be needed.

Similarly, in the related area of placement and placement restrictions/prohibitions that limit or preclude the development of new manufactured home communities and/or the expansion of existing communities – both of which are essential to ensuring the availability of inherently affordable manufactured homes for every American who wants one, and the economic expansion of the industry – MHARR will likewise work cooperatively with state-level industry associations to seek out egregious examples of discrimination against the industry and its consumers, and will take aggressive action to address those mandates as well.

Rounding-out MHARR’s three major post-production focus areas, is the matter of consumer financing and the full, market-significant implementation of the “Duty to Serve Underserved Markets” mandate by Fannie Mae, Freddie Mac and the Federal Housing Finance Agency (FHFA). Despite targeted marketing to industry members, the Government Sponsored Enterprises (GSEs) – more than a decade after the enactment of DTS – have done little or nothing to even begin serving the largest segment of HUD Code industry consumer financing, represented by home-only personal property (or “chattel”) loans, which comprise nearly 80% of the entire manufactured housing market.  Despite years of promises (including decades of promises before the adoption of DTS), Fannie Mae and Freddie Mac have not only failed to deliver – but have been allowed to fail to deliver — anything in the way of market-significant support for the vast bulk of the manufactured housing market and instead – supported by the Manufactured Housing Institute (MHI) — have diverted much of their focus to a “new class” of manufactured homes at a price point that is significantly higher than mainstream manufactured housing. This diversion of DTS benefits to the industry’s largest entities and higher-cost market-dominant lenders, rather than attracting new lenders and promoting the type of market competition that would result in lower interest rates and greater affordability for consumers.

To address these matters, MHARR will take aggressive action, both in Congress and within the Administration (including the Office of Management and Budget, the Treasury Department and HUD) to press for full GSE/FHFA compliance with DTS – and expanded manufactured home consumer lending support from the Federal Housing Administration (FHA) and Ginnie Mae – to expand the availability of consumer financing for the mainstream HUD Code market and promote greater competition and affordability for consumers.

In addition to these matters centered within the post-production arena, MHARR members also directed the Association to: (1) continue to aggressively oppose (including via litigation, if necessary and appropriate) discriminatory manufactured housing energy regulation by the U.S. Department of Energy (DOE), as is still being sought and promoted by energy special interests; (2) press for the conclusion and effective implementation of HUD’s regulatory reform activities pursuant to Trump Administration Executive Orders 13771 and 13777; and (3) take action to ensure full and fair competition (as required by federal law) for the next HUD monitoring contract.  In this regard, MHARR has already had a dialogue with senior-level HUD contracting personnel to stress the need for fair and open competition and a new contractor after more than 40-years of de facto sole-source contract procurements and awards.

Lastly, MHARR members had an opportunity to speak with representatives of the Federal Emergency Management Agency (FEMA), who gave a comprehensive presentation to MHARR manufacturers and answered questions regarding the next FEMA procurement of manufactured homes for use in emergencies.  The productive dialogue was extremely useful for the independent manufacturers which comprise MHARR and reflects a laudable commitment by FEMA to include smaller, independent HUD Code producers in the procurement process to provide essential housing assistance to victims of natural disasters going forward.

 

The Manufactured Housing Association for Regulatory Reform is a Washington, D.C.-based national trade association representing the views and interests of independent producers of federally-regulated manufactured housing.

— 30 —

 

The same release on MHARR’s website is found at the link below.

 

MHARR Board Holds Highly Productive Meeting — Adopts Bold New Initiatives

 

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

 

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Related Reports:

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MHARR Urges Congress to Preserve DTS In GSE Reform Legislation DBN

HUD Secretary Carson HUDdle Conference Features Manufactured Housing Association for Regulatory Reform Engagement on Zoning, Placement, and Financing

MHARR Analysis Exposes HUD PD&R Energy Costs “Whitewash”

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

“The Illusion of Motion Versus Real-World Challenges”

 

 

 

 

 

 

 

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.

Tell Your Home Buyers, “Higher Rates Ahead,” Per Mainstream Reports

July 30th, 2018 Comments off

TellHomeBuyersHigherRateAheadPerMainstreamReportsDailyBusinessNEwsMHProNews

Third-party information can be a powerful resource for savvy industry professionals, including those who are on the front-lines with retail buying customers.  What you say on your website, or on your own authority may or may not be believed.  But research reveals, that third-party information is far more trusted.

 

So, you may want to bookmark this article in your smart-phone for the next few weeks, so you can rapidly show it to a prospect who has not yet been told that interest rates are expected to rise, again.  Don’t overdue use it, just be mater of fact at the appropriate time – not too soon, not too late – with those who are serious about owning a home, but perhaps haven’t set a firm time line.

Historically, rising rates are reasons to move people ‘on the fence.’ Rising rates have also been a reason for decades why home buyers shifted from getting a conventional house, to buying a manufactured home instead.

Frankly, to me the refunding could be potentially a more significant catalyst than the Bank of Japan. I don’t expect anything terribly exciting from the Bank of Japan. I think they will reaffirm their willingness to throw down an unlimited amount of stimulus. I don’t think there will be too many tweaks,” said Boris Rjavinski, director of rates at Wells Fargo, per CNBC.

Friday’s employment report is expected to show 190,000 jobs were added in July, they said, but the number investors are watching is the 0.3 percent gain expected in hourly wages. While employees want all that they can get, anything higher might send yields higher, as it could signal a potential pickup in inflation.

Rising rates could hit millennials the most, said the Globe and Mail.

Rates could rise, regardless of what the FED does this week, says CNBC.

With conventional housing inventories tight, and with the positive reviews from the National Association or Realtors (NAR) recent report, there are plenty of reasons for more Americans to make the manufactured housing choice.   See that related report, linked below. ## (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:

 

Realtor University ® “The Market for Manufactured Homes,” Research by Scholastica Cororaton, Certified Business Economist, Highlights

 

Manufactured Housing Industry Headline News, Sunday Morning Weekly Recap 2.25.2018 to 3.4.2018

March 4th, 2018 Comments off

ManufacturedHousingIndsutryHeadlineNewsSundayMorningRecap2.25.2018to3.03.2018

 

If you are not catching flak, you are not over the target” – is an Air Force maxim. Its reverse is equally revealing – “If you‘re catching flakyou‘re over the target.” – and it means you are likely near the mark or are scoring direct hits.

 

There has been a lot of flak from defenders of MHI and Berkshire this past week.

So there must be some target rich insights in the reports that follow, below.  The real heat is over the ‘new class of homes,’ and the concerns that the Nation has raised about Berkshire and their evidence and claims of monopolistic  practices.  Those are among our headlines below, but of course, there are a number of other topics, such as financing, markets, good news and more.

There will be a new Masthead that will be added to this, later today. An interesting new commentary by manufactured housing advocate, the Rev Donald Tye, Jr. has come in, which we plan to post this week.

 

For accuracy and in fairness, push back can come for reasons of honest disagreement. Accuse someone that is innocent of wrong-doing and you would naturally expect them to deny it. They may even do so in a heated manner.

Attorneys, politicians and professional debaters are taught certain debating tricks. One of them is the “straw man argument,” and it relies on readers or listeners missing one or more important details. Like a scare-crow mimics an actual human, hoping to scare crows away from a corn field, the strawman argument is similar to what was actually said, but has important differences.

What we’ve seen last week included the liberal use of the straw man, and other debaters’ tricks.

‘Over Target’ Reactions, WHA Exec (ret) Ross Kinzler, Won’t Defend MHI Policies & Points to Prior MHI Failure

There must be some heady targets in the links from the Daily Business News, which drew those reactions, below.

 

What’s New on the Daily Business News

DailyBusinessNewsLogoMHProNewsLogo

 

Saturday 3.3.2018

Keith Anderson, CEO Champion Homes, MHI ‘New Class’ Monopoly Concerns Memo, ‘Harms Owners, Independents’

Keith Anderson, CEO Champion Homes, MHI ‘New Class’ Monopoly Concerns Memo, ‘Harms Owners, Independents’

 

Friday 3.2.2018

Experts Break Down Anticipated Cost$ of Tariffs on New Manufactured Homes

Experts Break Down Anticipated Cost$ of Tariffs on New Manufactured Homes

MHPros Sound off on Steel Deal, Wilbur Ross Reacts to Controversy, Plus MH Market UPdate$

 

Wisconsin Housing Alliance – an MHI ‘Affiliate’ – Amy Bliss’ Messages Raise New Anti-Trust Issue

Wisconsin Housing Alliance – an MHI ‘Affiliate’ – Amy Bliss’ Messages Raise New Anti-Trust Issue

 

“F-Bombs” Fly – Cursing Manufactured Housing and Tornadoes – Engaging Public, Experts, Officials, and Media

“F-Bombs” Fly – Cursing Manufactured Housing and Tornadoes – Engaging Public, Experts, Officials, and Media

 

Thursday 3.1.2018

Announced Tariff’s on Chinese Steel, Aluminum Spark Stock Sell-Off, MH Industry Outlook?

Progressive “Nation” Reports on Monopolies Cites Buffett, Clayton, Others – MH Industry Impact?

Progressive “Nation” Reports on Monopolies Cites Buffett, Clayton, Others – MH Industry Impact?

Controversial Trump Tariff$ Announcement, Century Aluminum CEO Explains the Facts, Plus MH Market UPdate$

“Starting” Dip in Home Sales, New Crisis Says Housing Experts

“Starting” Dip in Home Sales, New Crisis Says Housing Experts

 

Wednesday 2.28.2018

York’s Champion Production Center Celebrates 58th Birthday

York’s Champion Production Center Celebrates 58th Birthday

Skyline and Champion 30 Day Snapshot, Plus Manufactured Housing Market UPdate$

HFFLP Arranges $400M JV in US Properties, NAM Update$

Robbie’s Revolution Precrafted’s $1.1 Billion-Dollar PreFab Project

Robbie’s Revolution Precrafted’s $1.1 Billion-Dollar PreFab Project

 

Tuesday 2.27.2018

Silverton Mortgage Announces Acquisition by Berkshire Hathaway’s Vanderbilt Mortgage and Finance, Plus MH Market UPdates

122 Site Manufactured-Home Community Proposed

122 Site Manufactured-Home Community Proposed

Housing, Jobs, Poverty, Opportunity – Kerner Commission Remix, HUD and Manufactured Homes

Housing, Jobs, Poverty, Opportunity – Kerner Commission Remix, HUD and Manufactured Homes

‘Tricked Out Trailer’ – Movie Mogul’s Multimillion ‘Mobile Mansion’

‘Tricked Out Trailer’ – Movie Mogul’s Multimillion ‘Mobile Mansion’

 

Monday 1.26.2018

HUD Reg Review Could Yield Housing, Econ Boom; Plus MH Market UPdate$

DEADLINE! Invest 1 Hour NOW to Secure Brighter Future – Monday Morning Sales Meeting

DEADLINE! Invest 1 Hour NOW to Secure Brighter Future – Monday Morning Sales Meeting

Warren Buffett’s Annual Report to Berkshire Hathaway Shareholders, Clayton Homes and Manufactured Housing

Warren Buffett’s Annual Report to Berkshire Hathaway Shareholders, Clayton Homes and Manufactured Housing

Federal Manufactured Home Improvement Loans Are Available, says RE author Tom Kelly

 

Sunday 2.25.2018

Manufactured Housing Industry Headline News, Sunday Morning Weekly Recap 2.18.2018 to 2.25.2018

Manufactured Housing Industry Headline News, Sunday Morning Weekly Recap 2.18.2018 to 2.25.2018

Got a news tip?  A document or email, etc. that has a revealing insights?

Keep in mind, some articles, including those recently covered, begin as a result of one or more reader’s news tip(s).  That’s why from the biggest companies to the medium and smaller independents, this is the runaway number one news source in all of manufactured housing.  Period.

For the Daily Business News today, ‘that’s all she wrote.’ ## (Headline news, analysis, and commentary.)

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

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You can remain anonymous. Let us know if you want credit, or want to be off the record. 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.

Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

 

 

Appealing Manufactured Housing Institute (MHI) Marketing, Finance Booklet Reviewed

December 4th, 2017 Comments off

ManufacturedHousingInstituteMHILogoFactCheckAnalsisDailyBusinessNewsMHProNews1000x737The image to the left and those below are from a Manufactured Housing Institute (MHI) produced booklet.

It’s good.

With nuanced exceptions, it’s accurate.

This booklet – combined with other educational materials – are precisely the kind of document that could appeal to and inform:

  • home buyers/consumers,
  • public officials,
  • policy advocates,
  • researchers,
  • and the mainstream media.

Such educational material – properly promoted – could over time bring more better qualified buyers into the manufactured home market.

ManufacturedHousingInstituteMHILogoConsumernInsideCoverManufacturedHomeLivingNewsMHProNews800

From an overall fine MHI booklet, produced circa 2002.

Is There a Catch?

Yes, and no.

ManufacturedHousingInstituteMHILogoConsumerInfoPg1FactCheckAnalsisManufacturedHomeLivingNewsMHProNews697

First, we’ll make the disclosure that this truly fine Manufactured Housing Institute (MHI) booklet is ‘outdated,’ but only in a narrow sense.

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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.

There are doubtlessly newer manufactured home professionals in sales or leasing offices that are unaware of some of the appealing styles shown in the complete booklet that this was excerpted from. Those unique styles of HUD Code manufactured housing are, or could be, done as well or better today.

Second, while the booklet doesn’t have a date of publication, MHProNews has indications that it was produced circa 2002. That’s important, as we’ll note later.

Third, unlike documents and graphics produced in the Richard A. “Dick” Jennison era at MHI, which:

  • conflicts with other MHI data,
  • conflicts with data from other member companies,
  • has factual errors, per federal, lender, or other data,

this roughly 15-year-old ‘dated’ MHI document – after an initial read, and given some modest changes – could largely be used today.

Frank Rolfe: Pressured into Silence? Manufactured Housing Industry, and Journalism

It’s arguably better than what MHI now produces, because it is more accurate on the lending options.

ManufacturedHousingInstituteMHILogoConsumerBookpg4FactCheckAnalsisManufacturedHomeLivingNewsMHProNews

For example, this MHI-produced – largely consumer-focused document – cited a useful Harvard study.  That university research predicted that manufactured housing would take off in the years ahead.

So, on the one hand, this document is better than some items being produced by MHI today.  There were voices such as Harvard saying the era of manufactured housing was upon America.

What happened?

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Graphic provided by Ross Kinzler when he was then the executive director of the Wisconsin Housing Alliance (WHA).

Bear in mind Warren Buffett’s notable quotes, cited at the link below.  Keep in mind that the booklet was produced prior to Buffett’s manufactured housing buying spree.  Buffett believes that history is to be studied and learned from, how about you?  Do you agree with Buffett on studying and learning from history?

“Perverse”–Warren Buffett-Dodd-Frank, CFPB, Manufactured Housing, Loans, Independent Businesses Fact Check$

Why Does This Fine MHI Booklet Matter Today?

For several reasons, this 15-year-old MHI booklet ought to raise curiosity, praise or the prior effort, and numerous concerns for:

  • MHI members,
  • manufactured home professionals,
  • and third-party-researchers.

Some bullets why this is worth evaluating and updating could include, but are not necessarily limited to:

  • The booklet is generic, which means it did not plug specific manufactured home producing companies, as MHI’s new videos do.
  • While it names FHA, VA, USDA (Rural Housing Services, the old FmHA), Fannie Mae, Freddie Mac, etc. it doesn’t name any lenders that provide those programs. To rephrase, it’s generic on lending too.  It doesn’t name a Berkshire Hathaway (BH) lender, for example.
  • Because in those days, it couldn’t have named a BH lender, because it was only later that BH bought companies that included MH chattel loans.

To recap, this booklet had no favoritism.

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Another photo from the educational, generic marketing MHI booklet, produced circa 2002.

Almost anyone in the industry could have used this to promote a better understanding of manufactured housing, and the kind of loans that most consumers who are comparing to conventional housing would be familiar with.

  • There was no picking ‘winner’ companies that got spotlighted at the cost of all members.
  • Because there were no featured ‘winners’ companies, there are therefore no by-default, ‘loser’ companies. This is an application of what Drew (now Lippert) Chairman Leigh Abrams told MHProNews in A Cup of Coffee with Leigh J. Abrams interview linked here that the industry should be promoting. “Generic” educational/marketing material.
  • What this booklet indirectly spotlights goes to the allegation by contemporary MHI members, and others in the industry, that the Arlington, VA based trade organization now favors a few select companies. What that would imply in practice is that all others who are dues-paying members are paying to promote those few “winner” companies.

Big companies are benefiting from the dollars of the little companies.  That clearly wasn’t so when this booklet was produced 15 years ago.


Are these facts, allegations and concerns still more good reason to support a new, post-production trade association?

To learn more click the linked post above, or below. “We Provide, You Decide.” © ## (News, fact checks, analysis, commentary.)

Notice 1: Looking for our emailed MH Industry headline news updates? Click here to sign up in 5 seconds. You’ll see in the first issue or two why big, medium and ‘mom-and-pop’ professionals are reading them by the thousands, typically delivered twice weekly.

Notice 2: If you like what you see, support our sponsors.  If you want to join the Manufactured Housing Revolution, for marketing and other MH Professional Services, click here.

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

Sunday Morning Weekly Recap Manufactured Housing Industry News, October 22 to October 29, 2017

October 29th, 2017 Comments off
SundayMorningWeeklyRecapSept4toSept10ManufacturedHousingIndustryDailyBusinessNewsMHProNews-1

Featured image credit, MHProNews.

Tony, every week there is so much that happens, this [The Sunday Morning Headline News Recap] is an easy way for me to review the news, thank you for this [feature] and your team’s coverage of factory-built housing.

Our featured articles for September are available on the MHProNews.com home page.

FYI – and ICYMI if you aren’t already on our twice-weekly emailed headline news update, click here to sign up in seconds.

Thousands get our emails, and the open and click through rates – per MailChimp – blow away others in media and publishing.  The reason?  “Relevant!” said a regular on MHProNews.

To see the line-up of over 2-dozen featured articles for the month of September, along with the headline commentary, please click this link here.

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.

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.”  ©

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What’s New On MHLivingNews

 

October 28th, 2017

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October 27th, 2017

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October 26th, 2017

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October 25th, 2017

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October 24th, 2017

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October 23rd, 2017

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That’s $36,000 plus shipping. While HUD Code homes are still a better cost per square foot, will growing demand reduce the price of such competitors? Isn’t that the lesson of production – more demand, more production, costs decline – with all products?

October 22nd, 2017

SoheylaKovachManufacturedHomeLivingNewsManufacturedHousingIndustryDailyBusinessNewsMHProNews-(Image credits 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.

New MH Industry Reports – “Politically Incorrect, Factually Accurate”

August 7th, 2017 Comments off
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Collage credit, MHProNews.com.

As promised last week, the Manufactured, Modular and PreFab Housing Industry’s new featured articles and reports are live on the MHProNews home page.

Recent or first-time visitor?

Then go to the home page, and scroll down past the Daily Business News and MHLivingNews modules, and on the center left, you’ll find over 18 new featured articles and reports.

Among those are 4 “headlines news” features, that can help busy professionals catch up with the top news stories that impact manufactured housing for the month in review.

Trends, research, new developments, expansions, closings, data, company, association, finance, economic, and political topics which impact the industry are part of this August 2017 new Featured Articles.

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Collage credit, MHProNews.com.  Click above to see the home page.

“Politically Incorrect, Factually Accurate”

Our sponsors, team members, and management thank you for making us the runaway number one professional resource in the manufactured housing industry’s trade media.

 

MHProNews56342Magazines32PagesEach2MillionPageViewsMastheadMHProNews

Politically incorrect, factually accurate. We provide a wide range of vantage points, but always strive to be factually accurate. If you ever see a factual error, please let us know. Thank you for making us the runaway #1 in manufactured housing trade media. Click above to see the home page.

As True Today as When This 2 Minute Video Was Made


We Provide, You Decide.” ## (Announcements, associations, how-to, opinions, reports, features, and headline news).

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

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

“Make MH Great Again” – Marty Lavin Exclusive

August 4th, 2017 Comments off

MakeMHGreatAgainMartyLavinManufacturedHousingIndustryCommentaryDailyBusinessNewsMHproNewsIt could prove to be one of the most controversial, witty, sarcastic, and challenging commentaries of the year about the state of the modestly growing manufactured housing industry.

The title MHI award-winning Marty Lavin has chosen isn’t “Make MH Great Again.” But that’s precisely what his unstated theme is.

Lavin looks at the facts.

He thoughtfully examines the industry’s “business model.”  Step by step, the actively retired veteran unpacks the present in light of the past that brought the industry to this stage.

The attorney and industry expert’s writings have long been of keen interest to investors, the GSEs, thousands of MH professionals, association leaders — and even the industry’s billionaires.

As his classic home in a posh Burlington neighborhood – and the fine three-level custom Italian vessel berthed in Miami reflect, Lavin’s years in the community, retail and finance sides of the manufactured home industry brought him significant success.

His points are not to be taken lightly.

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Lavin’s must-read views will be live on the MHProNews home page Sunday night, August 6, 2017.  His commentary will be joined by over 18 featured articles, including several other notable industry professionals.  Don’t miss it. ## (News, commentary, scheduling, announcements.)

Update: Marty’s article is live on the home page, at this link here.

(Image credits are as shown above.)

SoheylaKovachManufacturedHomeLivingNewsManufacturedHousingIndustryDailyBusinessNewsMHProNews-Submitted by Soheyla Kovach to the Daily Business News on MHProNews.com

‘CFPB Rectal Exam,’ Congressman Stresses Need for Credit & Financial Reform, Manufactured Home Pros React

June 21st, 2017 Comments off

CongStevePearceNM2R-DailyBusinessNewsManufacturedHousingIndustryReportsResearchDataMHProNewsCredit is one of the most powerful devices of the financial system designed over time by modern societies. It gives people the freedom to spend money now – whether to cover a medical expense, an emergency repair, buy a home or send their child to school – and pay it off later,” wrote Rep. Steve Pearce, Congressman from New Mexico’s 2nd district.

Pearce stated in a column published in the Albuquerque Journal  that there are risks and rewards with credit, but underscores how important it is for businesses and consumers alike.

Pearce said, “Half of the homes in the 2nd Congressional District of New Mexico are manufactured housing. The [CFPB] bureau took several actions that resulted in all but one or two banks no longer lending for those.”

This bureau [CFPB] was tasked with protecting consumers – a laudable goal. Very quickly though, the bureau began to show it had no idea how or why many elements of the credit markets were established. As it began to regulate those elements out of existence, credit to the poor began to dry up. People in New Mexico soon began to see their opportunities disappear because their sources of credit were diminishing before their eyes,” wrote Pearce.

The congressman then walks, step-by-step through his case for making the Financial Choice Act the law that will reform the well intentioned – but in his view, fatally flawed – Dodd-Frank Act, and its offspring, the Consumer Financial Protection Bureau (CFPB).  The congressman’s full comments, are linked here.

Manufactured Home Industry Reactions

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JD Harper, Executive Director, AMHA, credit, LinkedIn.

I’m thankful that many of our elected officials in Washington D.C. – like Rep. Steve Pearce from New Mexico and Rep. French Hill from Arkansas – have heard and understood the concerns that their constituents – including community bankers and the manufactured home industry – have with the real-world negative impact that some of the provisions of Dodd-Frank have had on working families seeking to purchase an affordable home,” said JD Harper, of the Arkansas Manufactured Housing Association (AMHA).

Harper says, “I can only hope that the United States Senate will agree to act upon at least some of the less-controversial provisions contained in ‘The CHOICE Act’ – specifically those reforms aimed at helping manufactured home buyers access financing – instead of allowing a few Senators [to] derail this much-needed legislation with ‘scare tactics’ and ‘Doomsday Scenario’ rhetoric.”

A long-time “Lonnie dealer” type operation said they’d love to comment on this issue to MHProNews, but they didn’t want a “CFPB Rectal Exam. For decades, Lonnie Scruggs financed used pre-HUD Code mobile homes, and post-code manufactured homes as well on an ‘owner carry’ basis.  That created a path to ownership for thousands who could otherwise only rent.

Many of those Lonnie dealers often made a good return on their investment. Some would then reinvest in more inventory, which meant that more homes could be purchased, and more home ownership opportunities created.  It was a classic free enterprise solution for affordable housing at work.

How many of those who once bought from a Lonnie dealer are today left renting, or are pushed into subsidized housing?

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An older manufactured home in a land lease community. Credit: Homes.

MH Community Sector Response

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Brian Gallagher. Credit: LinkedIn.

It is difficult, if not impossible, to properly discuss all of the issues raised in this column and their impact on the Manufactured Housing industry in general and on MH financing in particular in a brief response.  Our small firm is also significantly impacted by the new regulations,” said Brian Gallagher, Chief Operating and Financial Officer, Santefort Real Estate Group.

No one should be in favor of oppressive, ineffective regulation,” said Gallagher, who stressed that sound, effective regulation would be good for consumers and the industry alike.  But Gallagher points out that the Choice Act has its own exceptions to the rule.  For example, he points to carving out protections for payday lenders, not offered to others in finance.

Gallagher laid out the burdens, risks and costs the current regulatory structure created for his operation, and wonders what good if any it does for potential home buyers?

Former Association Chair, and Retailer’s View

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Karl Radde, Southern Comfort Homes, Chairman, National Retailers Council, MHI.

Let’s forgo affordable housing for a bit and think of rent to own furniture places or pawn shops,” said Karl Radde of Southern Comfort Homes. He pointed to the example of rent-to-own stores, which he said he wouldn’t personally use, but others clearly find them beneficial.

Radde rhetorically asks, “If we try to ‘protect’ someone by over-regulating that industry, are we not in fact saying ‘You can’t have a TV?’”

Radde, the former Texas Manufactured Housing Association (TMHA) chairman, then raised a point that’s often missed. Namely, when owner financing is eliminated – something that Pearce noted in his editorial – then resale, values, and other economic consequences result.

At that point [in the absence of owner financing], the value of those homes dramatically decrease because they became worth only what someone could afford to pay for them in cash transaction,” said Radde.

That’s not only true of manufactured housing, but was equally true of conventional housing values.  When lending dried up in 2008/2009, existing conventional house values crashed.

Radde detailed more experiences, such as the need for being able to guide a home buyer into the better lending option, without being accused of ‘steering’ under the so-called MLO rule. He then applauded the financial reforms that Congressman Pearce, along with several manufactured home industry associations, are promoting.

TownAmendsManufacturedHomeOrdinancecreditRealtor-postedtothedailybusinessnewsmhpronewsmhlivingnews

When the resale values of older manufactured homes are diminished or cut off due to regulations imposed by the CFPB, then the sale of new homes also suffers. Profits, jobs and opportunities are lost. A  home in McCrory, Arkansas. Credit: Realtor. 

Off the Record…

“…I’m not interested in doing an on-the-record comment on this,” at this time, said a party informed and engaged on industry financing issues, but wishing to avoid the political limelight.  “A point that you might want to make, though, is that Dodd-Frank is not the only significant impediment to access to consumer credit for manufactured home purchases.  There is another major impediment that has helped to distort 80% of the mh consumer financing market and that is the GSEs failure to provide secondary market and securitization support for mh chattel loans.”

That statement on the need for not just Dodd-Frank reform or replacement, but the need to implement the now almost decade-old Duty to Serve (DTS) mandate created by the Housing and Economic Recovery Act (HERA 2008) is one that several industry professionals made in their own words.

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Many public officials are regulating homes they have little or no true understanding about. Photo, Sunset Village, Glenview, IL – credit, MHLivingNews.com. Caption comments by the editor.

Congressman Pearce’s Purpose

New Mexico’s Rep. Pearce said that cutting off access to credit harmed a range of things important to those in his state.  Home ownership, property values, business and jobs were all being harmed.

This [CFPB regulations] resulted in fewer jobs for New Mexicans and less support for our local economies. Along the way, the bureau established guidelines that resulted in banks in Deming being regulated the same way as banks in New York City.”

Pearce noted that he tried the direct approach with the CFPB, to no avail.

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Richard Cordray himself said that there was never much high cost lending in the manufactured housing industry market, still from in an MHLivingNews video, linked here.

I have personally sat down multiple times over the last six years with the head of the CFPB and the chairman of the Federal Reserve to express the damage the bureau’s actions have caused to New Mexico. They just don’t seem to care about the effect on the poor, rural areas and the weight of their regulations. For these reasons, I’ve joined Chairman (Rep. Jeb) Hensarling, R-Texas, of the House Financial Services Committee to pass the CHOICE Act, repealing many of the ways that the bureau flagrantly ruins the hopes and dreams of those who financially struggle,” the New Mexico congressman said.

Pearce concludes, “It is my aim to see that even the most economically fragile in New Mexico have the opportunity and resources to earn their way to success.” ##

(The congressman’s full comments, as published, are linked here, as a download. Note, this column drew extensive comments from those quoted above, which MHProNews plans to publish in full in the days ahead.)

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

SoheylaKovachManufacturedHomeLivingNewsManufacturedHousingIndustryDailyBusinessNewsMHProNews-Submitted by Soheyla Kovach to the Daily Business News on MHProNews.com.

Modular Becomes Solution for Supply Chain Slowdown

January 19th, 2017 Comments off
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A Skyclad modular home. Credit: Independent IE.

As the U.K. battles an ever-increasing housing crisis, more and more people are looking to manufactured and modular housing as a solution.

Ashley Ilsen, Chief Marketing Officer and Head of Lending at development finance lender Regentsmead, tells MHProNews that supply chains, in the wake of the recent Brexit vote, have presented a unique opportunity.

Supply chains seem to have slowed since the Brexit vote and this is severely hampering the rate that we are able to build houses,” said Ilsen.

Cost of building materials is predicted to rise dramatically over the next few years, following our rather painful exit from the EU. Worryingly, this seems to be widely ignored by the government, which I can’t understand given that housing is such a prominent topic these days.”

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Ashley Ilsen. Credit: RegentsMead.

Ilsen believes he knows the solution.

Modular housing could well be the answer here. We have come a long way from some of the pre-fabricated solutions that we saw during the 1990s. With a huff and a puff it would be touch and go whether these would stay standing, and after a few winters you were lucky if the size of your house wasn’t very different to when you first moved in,” said Ilsen.

Today we are of course in a very different age where we now have a plethora of various modular housing products. Each one I see seems to be even more superior to the last. The house is constructed in a third of the time as a brick and block structure. Usually, the house arrives on site in sections and is pieced together almost like a giant puzzle, something that has caused headaches for lenders that haven’t necessarily comprehended how to fund such buildings.

Ilsen feels strongly that as modular housing solutions become more mainstream in the U.K., it’s critical that lenders better understand them.

There may well be a different type of warranty required for a modular house; funds will need to be released in a different structure and when problems occur on site a lender should have the expertise to deal with it,” said Ilsen.

Modular builds will also carry a different site value as they are constructed, which means no more hiding behind the ‘bricks and mortar’ phraseology that we hear so often. There are also numerous risks involved in modular construction that a good development lender will have a deep understanding of.

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Credit: The Daily Mail.

The Daily Business News has covered the U.K. housing crisis, and potential solutions closely, including supermarket giant Tesco adding modular units on top of their store locations and an “urban bungalow” home created by Willerby Innovations. That story is 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.