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Posts Tagged ‘latimes’

$15 Hour Minimum Wage would Cost Nine Million Jobs Nationally

August 18th, 2016 Comments off

lunch box thermos ebay postedDailyBusinesNewsMHProNewsAs labor activists promote the Fight for Fifteen, the push for a $15 an hour minimum wage would lead to the loss of nine million jobs as businesses scurry to find where to implement labor-saving technology, says , James Sherk in a Heritage Foundation brief as reported to hotair.

Including wages, payroll taxes and other withholdings, a $15 per hour employee must generate $38,700 annually in value to their employers “Such a high hurdle would make it much harder for less-experienced and less-skilled workers to find full-time jobs. Many of these workers are not yet productive enough to create that much value for their employers and businesses will not hire them at a loss,” according to Sherk.

Some companies may face closing or move outside the country. In Los Angeles, American Apparel slashed 500 jobs after the city’s $15/hr law took effect. The latimes says the Bureau of Labor Statistics data indicate local apparel manufacturing in Los Angeles County had fallen 33 percent since 2005 to 2,182, and employment in the industry had also declined the same percent, to 40,500 workers. Expensive real estate, the rising cost of materials and finding employees skilled enough who can afford to live in the city are definite challenges.

Effectof$15MinWagecreditHeritagePostedDailyBusinessNews-MHProNews

Charts credit,Heritage.org.

Studies by economists reveal an increase of ten percent in labor costs results in the loss of 6.8 percent less skilled workers in the long run. Although not an exact number, it does indicate the approximate level of job losses when wages increase.

The Washington Post reported in a study from Seattle where the minimum wage was mandated, researchers checking the numbers one way said the result was an increase in wages of $5.54/wk because of the increase, yet studying the numbers from a different angle results in a loss of $5.52/wk. Fewer workers had a job as the result of the minimum wage increase, and those that did, did not work as many hours as they had previously. The bottom line in Seattle: Earnings increased in one week sufficient to buy a Starbucks latte—until they raise the price or cut staff, which would increase wait time.

In a 40-hour week, $5.54 comes out to $0.14 per hour, which MHProNews understands means only nine percent of the increase in the minimum wage has effectively reached workers. “Ninety-one percent has dissipated in the need for businesses to counter the increased costs, either through reductions in hours or lost jobs. And that’s the best-case scenario,” said the study.

Effectof$15MinWagecreditHeritagePostedDailyBusinessNews-MHProNewsTable2

It’s not rocket science: If costs go up at one end, they have to be cut somewhere else, and this may be achieved by laying off other workers. In the industries most affected by a forced wage increase, cost competition is too significant to allow for price increases, so costs are cut elsewhere, often in labor.

In Sherk’s analysis, if the minimum wage was raised to $15/hr across the country, more than a tenth of all job losses would be in Texas, followed by 981,000 lost in California, 727,000 would disappear in Florida and 434,000 in New York.

When manufactured housing businesses consider the impact of polcies that didn’t work for Republican Richard Nixon, when he tried wage and price controls which failed, or for Democrats who propose it today, the study suggests the impact won’t be what supporters of $15 minimum wage seek.  Rather, the law of supply and demand indicates that by increasing the demand for labor through private sector job creation is a better strategy. ##

(Photo credit: ebay–Lunch box and thermos)

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

Tax on $3.5 Million Home only $29

May 31st, 2016 Comments off

Rockford_Files_mobile_home__Jim_Suva_dot_typepad_blog__creditFans of 1970s TV shows may recall that James Garner played a private eye named Jim Rockford in The Rockford Files, and he lived in a pre-HUD Code home sited on a deserted parking lot in Paradise Cove with a view of the Malibu coastline. The deserted parking lot with an older mobile home does not exist, but as MHProNews reported May 20, 2016, a triple-section manufactured home in Paradise Cove overlooking the Pacific recently sold for $5.3 million, establishing a new record price for a “Malibu Mobile.”

One might expect the property taxes to be in the six figures, or at least, five figures. But as latimes reports, because it is still considered a mobile home, it is taxed as a vehicle that has a license fee of $29, even though it is far from “mobile.” It is a very convenient way for the uber wealthy to settle in to a home with very little tax.

Homeowners can convert their property to conventional taxation if they so desire. While county assessors cannot just decide to do that, County Assessor Jeffrey Prang is supporting a bill that would permit assessors to tax these homes at their assessed value. SB 434 moved through the state Senate last year but did not move out of the Assembly.

The taxes these wealthy homeowners are avoiding pay for police and fire protection, among other services, and help sustain the values of these Paradise Cove estates.

Originally, the special tax treatment for mobile home owners was meant to ease the housing burden for those who could not afford more expensive conventional homes. It was not meant to convert Rockford’s 1959 Nashua House Trailer into a million dollar estate that pays little in taxes. ##

(Photo credit: Jim Suva.typepad–Rockford’s original mobile home)

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

Malibu Triple-section Manufactured Home Sets New $$ Record

May 20th, 2016 Comments off

Calif__malibu_5_point_3_M_triple_section__berlyn_photography__latimesAs latimes tells MHProNews, a triple-section manufactured home in Malibu’s Paradise Cove Mobile Home Park sold for $5.3 million, the most ever paid in the area. Listed for sale in March for $5.5 million, it was sold a year ago for $4 million.

Pinnacle Estate Properties agent Elizabeth Seaman represented the buyer, but declined to identify the new owner.

On a bluff overlooking the Pacific coastline, the home is replete with LA trappings: beamed ceilings, hardwood floors, skylights and a pair of gas fireplaces. With four bedrooms and four bathrooms, the master suite has a sitting area, large closet and pop-up skylight with clerestory windows.

The grounds include a gated courtyard, flagstone patio, gazebo and viewing deck. ##

(Photo credit: latimes/Berlyn Photography–MH deck overlooking the Pacific)

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

Housing Starts Pass One Million in April

May 20th, 2015 Comments off

new home construction  housingwire creditNew home construction in April hit its highest level since November 2007 as privately owned housing starts hit 1.1 million, a 20.2 percent increase over March. Building permits also increased, rising to a seasonally-adjusted annual rate of 1.1 million as well, 10.1 percent over March, the highest rate since June 2008, according to latimes.

This is good news coming on the heels of the National Association of Home Builders (NAHB) survey of homebuilders report of a slip in confidence, as MHProNews reported May 18, 2015, as well as a drop in new home sales in March.

Economists had predicted starts and permits would bounce back from the severe winter, but now forecast broader economic growth this spring.

Patrick Newport and Stephanie Karol, U.S. economists for IHS Global Insight, said conditions are improving for home construction. Builders are benefiting from lower wage pressures and cheaper materials,” they said in a research note. “The price of lumber has been dropping like a stone since February.

The Northeast experienced the largest gain in housing starts, 85.9 percent, driven by multifamily construction. Housing starts rose 39 percent in the West, 27.8 percent in the Midwest, but fell 1.8 percent in the South. ##

(Photo credit: housingwire)

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

Land Lease Community Owner Builds Gargantuan Home

December 23rd, 2013 Comments off

At 60,000 square feet, Chateau des Fleurs (chateau of the flowers) is one of the largest homes in the tony Bel Air section of Los Angeles. With a ballroom, three elevators, a pool, a paddle tennis court pavilion, a guardhouse, a guesthouse, as well as husband and wife wings, the U-shaped, Versailles-inspired monolith is nearing completion after being under construction five years. According to the latimes.com, one third of the total square footage is underground parking and storage space of the estimated $100 million monolith. Owner Jeffrey A. Kaplan, Los Angeles lawyer turned real estate developer, owns 18 manufactured housing communities with partner Thomas T. Tatum. MHProNews has learned in 1996, Kaplan unsuccessfully spearheaded an initiative to prevent all California communities from adopting new rent-control ordinances. “It’s no question [houses are] getting bigger and being used less often, not as primary residences,” said Jeffrey Hyland, a well-known high-end real estate agent.

(Photo credit: Mel Melcon/Los Angeles Times–Chateau des Fleurs)

Modular Home at another Home Show

May 10th, 2013 Comments off

The latimes tells MHProNews one of the exhibits at the Alternative Building Materials & Design Conference and Expo, which opens at the Santa Monica Civic Auditorium, will also feature a modular home like several home shows we have covered recently. The one on display is a “granny flat”by Modular Lifestyles, conceived as an alternative to a room addition that sits near the main home with its utilities attached to those of the main residence.

(Photo credit: Joe Kelly–Skyline Corp. modular at Iowa State Home Show)

New Modular Homes Replace Duroville

March 25th, 2013 Comments off

Updating a story we covered Oct. 16, 2012 concerning the federal court-ordered closing of Duroville, an MHC in the Coachella Valley in California, and home to some 4,000 mostly migrant workers, 70 of the families have been relocated to Mountain View Estates, a government-subsidized development of 181 new modular homes, only ten minutes away. Thirty-eight additional families are waiting for the three-bedroom, air conditioned homes with laundry facilities, a community center with a gym and computer lab to be completed. Also called Desert Mobile Home Park, Duroville was named for owner Harvey Duro, Sr., and was notorious for raw sewage in the streets, suspect tap water, a mess of electrical wires, a toxic waste dump next door, and feral dogs roaming freely. Deeded to Duro by the Torres Martinez Desert Cahuilla Indian tribe, of which he was a member, the LATimes tells MHProNews Indian lands are exempt from county code enforcement. “John F. Kennedy was in the White House when many of these trailers were built,” said Tom Flynn, the court-appointed receiver for Duroville. “Every time one of them disappears, it’s a victory.” While 32 families continue to live in Duroville, it is set to be emptied by summer. Over $28 million in county, state and federal funds were invested in Mountain View specifically to replace Duroville.

(Photo credit: top photo–Denise Goolsby/thedesertsun–Duroville; bottom photo Omar Ornales/the desertsun–Mountain View Estates)

The Economy Nudges Upwards

May 1st, 2012 Comments off

The Commerce Department says construction spending grew +0.1% from Feb. to $808.1 billion in March, six percent higher than the $762.6  billion of March 2011, and notes the suggestion of improvement in the housing industry. Meanwhile, the LATimes says, the Institute for Supply Management (ISM) reports in their index the overall economy grew for the 35th straight month. Manufacturing in the U.S. grew to a ten-month high, expanding in April at the fastest pace in almost six months. MHProNews.com has learned activity increased at 16 of the 18 industries surveyed by ISM, including machinery, paper, transportation equipment, and petroleum and coal.

(Photo credit: Tim Saville/Gen. Truss)

 

Rise in Consumer Confidence, but Economy Continues to Falter

February 28th, 2012 Comments off

Although orders for durable goods fell last month by four percent, the sharpest drop in three years, improved perception of the job market contributed to consumer confidence rising to its highest level in a year, according to what the LATimes is telling MHProNews.com. Economists expected the durable goods orders to drop only one percent following a surge in business spending last year on machinery and equipment. Additionally, the S&P’s/Case-Schiller index of home prices dropped in December in major cities for the fourth straight month, falling four percent, giving economists pause about overall economic recovery.

(Photo credit: MHProNews.com)

Vintage MHC will Remain as Tribute to Industry’s History

February 14th, 2012 Comments off

As follow-up to an article we posted Dec. 26, 2011, SantMonicaDispatch tells MHProNews.com the Village Trailer Park in Santa Monica, CA has likely been saved from the wrecking ball by the LA Landmarks Commission. The owners of the 108 home site LLC (land lease community) wanted to develop the property into a 400,000 square foot mixed retail, residential, and office complex. Built in 1951, the Friends of Sunset Park (FOSP,) noting the architectural, social, cultural and economic importance of the community to the historic growth of Santa Monica have recommended to the Landmarks Commission that the community be preserved. Many of the homes in the community are an artfully decorated blend of vintage factory-built homes. The report says: “As a social phenomenon, the progression from transient to permanent residential community led to Village Trailer Park becoming the City’s best remaining example of a neighborhood of closely spaced towable vehicles/dwellings set amongst lush landscaping with residents sharing recreational amenities.”

(Photo credit: Genaro Molina/LATimes)