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National Association of Home Builders Co-Hosting HUD Innovative Housing Showcase

April 30th, 2019 Comments off

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The Manufactured Housing Institute (MHI) missed touting Earth Day.

Thanks to some forward-looking MHI members, the Arlington, VA based trade group has been dragged into the Innovative Housing Showcase.  See those insights further below the byline and notices.

 

Yesterday, HUD announced in a release to the Daily Business News on MHProNews that the National Association of Home Builders (NAHB) would be co-hosting their event with HUD.

What follows is the bulk of their release.

 

HUDNewsheaderManufacturedHousingIndsutryDailyBusinessNewsMHProNews

National Association of Home Builders to
Co-Host 
HUD Innovative Housing Showcase

WASHINGTON – U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson today announced the National Association of Home Builders (NAHB) will co-host the Department’s inaugural “Innovative Housing Showcase.” The Innovative Housing Showcase will be held on the National Mall June 1-5, 2019, to educate policy makers and the broader public on the new housing innovations and building technologies that are helping address the affordable housing challenges across our country.

“We’re thrilled to have the National Association of Home Builders co-host this Showcase,” said Secretary Ben Carson. “It’s important we highlight these new building technologies that are answering the call for more affordable, durable housing options for families across America.”

“The housing affordability crisis is affecting both builders and consumers nationwide. We are honored to be co-hosting this event with HUD as we work together to find solutions to this growing problem. “ said Greg Ugalde, chairman of the National Association of Home Builders.

The Showcase will highlight various solutions that could make housing more affordable for American families and more resilient during natural disasters.

###

That’s this pre-dawn 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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HUD Secretary Carson to Host Innovative Housing Showcase Featuring Affordable Housing Solutions

“Less Waste, Better Buying” – Earth Day and Manufactured Housing Image-Building

 

 

 

 

 

Housing Economists Projections from NAHB, CoreLogic, Nationwide, and MHVille

February 27th, 2019 Comments off

 

HousingEconomistsProjectionsFromNAHBCoreLogicNationwideandMHVilleManufacturedHousingDailyBusinessNewsMHProNews

There has been scuttlebutt among talking heads in media about a looming recession for months.  People with the ‘right’ credentials are asked, and they soberly express their opinions – which they are entitled to – as to why they think that a recession is looming.  MHProNews has pushed back against that claim editorially, but the question remains, are those sources that warn of recession right or wrong?

 

Depending on the reporter or anchor involved in such an interviews with ‘experts,’ there may or may not be an obvious follow up question to their claims of a looming recession in the U.S.  The media follow up question should go something like this: ‘Given how strong the economy is now, based upon a raft of largely positive economic data, how is it possible that a recession would hit the U.S. so quickly?’

Just a few bullets.

 

1)    A record number of Americans are at work.

2)    Consumer confidence is near record highs.

3)    Small business confidence is also near historic records.

4)    A record number of jobs are open in the U.S.

5)    The Federal Reserve data, plus other economic indicators, suggest that for the foreseeable term, the economy has no apparent risk of recession, barring an unexpected cataclysm of some kind.

 

With those points in mind, let’s turn to a recent report by the OC Register, which interviewed various officials at a recent builders conference.  Their headline reads “Recession Not Likely Before 2021, Housing Economists Say.”

At a recent National Association of Home Builders (NAHB) conference 3 economists weighed in on this specific topic of an alleged looming recession, says the OC Register.  The bullets below are from their recent report.

  • This expansion will come to an end,” said David Berson, chief economist for Nationwide Insurance. But, he added, “the odds of a downturn in the next year are pretty low.”
  • Berson said the next recession probably won’t begin until late 2021 or 2022.
  • Frank Nothaft, chief economist for Irvine-based real estate data firm CoreLogic, said the risk of a possible recession likely will be high toward the end of 2020 and even higher in 2021 — after the next presidential inauguration.
  • After going up 3 percent in 2018, the NAHB predicts single-family home starts will increase 2 percent this year and an additional 4 percent to 928,000 detached houses in 2020.
  • The slowdown in immigration and the weakness in recruiting young Americans to the construction sector has contributed to a labor shortage that persists and continues,” the NAHB’s Dietz said. “Right now … we’re short more than 300,000 construction workers in the U.S.”
  • I think affordability is going to be the key issue (in how) housing advocates view the housing market in 2019,” Dietz said.

These bullets and factoids ought to spell boom times for manufactured housing.  So why is the industry struggling to achieve a mere 100,000 new homes?

Since the Manufactured Housing Institute (MHI) claims to represent all segments of factory-built housing, do they bear any accountability for the poor results?

How does one explain the bonuses paid to top MHI staffers, give the association’s failure to achieve the 500,000 new home shipments that President and CEO, Richard ‘Dick’ Jennison said could be achieved?

 

 

Road Blocks are Post-Production Ones, Says MHARR

The Manufactured Housing Association for Regulatory Reform (MHARR) routinely cites facts – confirmed by third-party, and HUD research, that HUD Code manufactured housing builders are producing the industry’s best homes ever.  The problems, says MHARR, are coming from the post-production sector.

The issues including zoning and placement issues.

A new report, shown from the linked text-image box below, reflects a publicly undisputed troubling fact.  MHI on several test checks made in recent years by MHProNews has not contacted – much less intervened – several of the zoning and placement challenges that are increasingly impacting manufactured housing.

Why not?

The key phrase from a longer message by an MHI member-affiliate attorney told MHProNews on 2.25.2019, the following, “…For Clearlake [CA] however as a government entity, it should not have different standards for MH than stickbuilt for its code, since the whole idea of federal HUD preemption is to prevent unreasonable discrimination in land use and building standard decisions respecting manufactured housing.”

That report is the first of several related topics that are linked below the bylines and notices.

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Related Reports:

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Dramatic Reversal, City Passes Urgency Ordinance Effectively Banning Manufactured Homes, Front & Back Stories

Mobile Home Burns, Woman Dies, Details At Ten – Back Story of Mobile Home Fires, Regulatory Facts

 

Democrats, Republicans Agree – “Manufactured Homes Can Play a Vital Role in Easing” the Affordable Housing Shortage

“Washington Post Article Underscores Clear Need for An Independent Post-Production Association”

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

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

“The Illusion of Motion Versus Real-World Challenges”

 

 

 

 

 

 

 

 

Builder Confidence Drops, Post Midterms, Affordability Concerns Rise

November 20th, 2018 Comments off

BuilderConfidenceDropsPostMidtermsAffordabiltyConcernsRiseDailyBusinessNEwsMHProNews

Growing affordability concerns resulted in builder confidence in the market for newly-built single-family homes falling eight points to a level of 60 in November on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), writes Robert Dietz  In a release to the Daily Business News on MHProNews. “Despite the sharp drop, builder sentiment still remains in positive territory. Builders report that they continue to see signs of consumer demand for new homes but that customers are taking a pause due to concerns over rising interest rates and home prices.”

 

In a separate video aimed more to their own members, NAHB also spends about 15 minutes focusing on the impact of the 2018 midterms on the housing market, which in turn influences builder confidence. So, the NAHB quotes above and below are more geared to the general population.

NAHBWellsFargoHousingMarketIndexOct2018DailybusinessNewsMHProNEws

 

For the past several years, shortages of labor and lots along with rising regulatory costs have led to a slow recovery in single-family construction. While home price growth accommodated increasing construction costs during this period, rising mortgage interest rates in recent months coupled with the cumulative run-up in pricing has caused housing demand to stall. As a consequence, builders have adopted a more cautious approach to market conditions.”

 

HousingAffordablitiyNAHBOct2018ManufacturedHousingIndustryDailyBusinessNewsMHProNews

 

The decline of builder confidence should be noted by policymakers. Recent statements on economic conditions have lacked commentary on housing, even as housing affordability has hit a 10-year-low. Given that housing leads the economy, policymakers need to focus more on residential market conditions,” said the NAHB.

 

NAHBTweet30000ConstructionSectorJobs330000AddedLast12MonthsConstructoinEmploymentYoYOct2017to2018

 

The MHVille Takeaways?

HUD Code manufactured housing ought to be surging, not snoozing, in the light of data like this.  This is yet another not-to-be-ignored statistical evidence that manufactured housing’s post-production leadership continues to fail small-to-mid-sized firms.

 

National New HUD Code Manufactured Home Production Data Summary, September 2018 Analysis

 

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4 Concerns of Homebuilders Have Impacting Every American

March 20th, 2018 Comments off

CoupleDiningRoomLaptop4ConcernsHomebuildersHaveImpactingEveryAmericanDailyBusinessNewsMHProNews

PwC Partner Mitch Roschelle says that homebuilders’ optimism is retreating. Roschelle cites among the factors behind the decline – land, labor and lumber – which could affect every American who owns or rents a house.

 

You could add one more “L” to Roshelle’s list, LIBOR.

LIBOR is a benchmark rate, which some of the world’s leading banks charge each other for short-term loans. It stands for London Interbank Offered Rate, and serves as a first step to calculating interest rates on various loan products throughout the world.

The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) tells MHProNews that their builder sentiment gauge fell to 70, the lowest reading since last November.

NAHBWellsFargoHousingMarketIndexManufacturedHousingIndustryDailyBusinessNewsMHProNews

Builders’ optimism continues to be fueled by growing consumer demand for housing and confidence in the market,” said NAHB Chairman Randy Noel, a custom home builder from LaPlace, LA. “However, builders are reporting challenges in finding buildable lots, which could limit their ability to meet this demand.”

NationalAssocHomeBuildersNAHBlogoMultiFamilySingleFamilyDailyBusinessNewsMHProNews

A strong labor market, rising incomes and a growing economy are boosting demand for homeownership even as interest rates rise,” said NAHB Chief Economist Robert Dietz to the Daily Business News. “With these economic fundamentals in place, the single-family sector should continue to make gains at a gradual pace in the months ahead.”

FramingLumberPricesNationalAssocHomeBuildersDailyBusinessNewsMHProNews

Problems for Stick-Builders Could be Good News for Manufactured Housing…

Producers tell MHProNews that when components like steel, aluminum or lumber rise for conventional builders, even though it goes up for factory builders too, they increase is often less steep. Bulk purchase buying power is one reason for the advantage.

Less waste in the building process is another.

Manufactured housing sales have risen steadily since it hit its all-time low in 2009.

2008to2017HUDCodeManufacturedHomeProductionTotalsMHARRManufacturedHousingAssocReglatoryReformDailyBusinessNewsMHProNews

In spite of the obvious price and other advantages that manufactured housing has over conventional builders, the industry has still lagged behind.

The causes for that lag have been explored in other reports, including the analysis sparked by the Urban Institute’s report on manufactured housing. ## (News, analysis, and commentary.)

Related:

Urban Institute Ask for Correction in Analysis of their Manufactured Housing Research, “Follow the Facts,” “Follow the Money”

HUD Comment Letter – FR-6075-N-01 Regulatory Review of Manufactured Housing Rules

Reaching for the Sky, Multiple Level HUD Code Manufactured Homes

First Things First in Manufactured Housing

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Home Builder Report Released, Single Family Home Market Insights

October 17th, 2017 Comments off

BublbeBuildingsPixabayDailyBusinessNewsMHProNewsBuilder confidence in the market for newly-built single-family homes rose four points to a level of 68 in October on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI),” the NHAB told MHProNews.

This is the highest reading since May, and you have to go back to October 2005 to find the same reading for this month.

This month’s report shows that home builders are rebounding from the initial shock of the hurricanes,” said NAHB Chairman Granger MacDonald, a home builder and developer from Kerrville, Texas.

GrangerMacDonaldCreditBuilderMagazineDailyBusinessNews

Granger MacDonald, chair of the National Association of Home Builders (NAHB). Credit, Builder Magazine.

However, builders need to be mindful of long-term repercussions from the storms, such as intensified material price increases and labor shortages,”  the NAHB release said.

It is encouraging to see builder confidence return to the high 60s levels we saw in the spring and summer,” said NAHB Chief Economist Robert Dietz.

With a tight inventory of existing homes and promising growth in household formation, we can expect the new home market continue to strengthen at a modest rate in the months ahead,” per Dietz.

NAHBWellsFargoHMIHistory0ct2017DailyBusinessNewsMHProNews

The manufactured housing industry currently has no similar research, but the Manufactured Housing Association for Regulatory Reform (MHARR) publishes the results of the monthly new home shipment reports.  Their most recent report, is linked here.

MHARR encourages widespread sharing of their reports, while by contrast, the Manufactured Housing Institute (MHI) places a copyright and wants their reports reprinted only with “expressed written permission.”

NAHBWellsFargoHousingMarketIndexHMIDailyBusinessNewsManufacturedHousingIndustryMHProNews

Fortunately, trade media such as MHProNews are allowed by law what’s known as “fair use” which allows republishing without permission for the purposes of analysis, and other guidelines approved uses.

NAHB Methodology

Derived from a monthly survey that NAHB has been conducting for 30 years, the NAHB/Wells Fargo Housing Market Index [HMI] gauges builder perceptions of current single-family home sales and sales expectations for the next six months,” they stated, using a simple “good,” “fair” or “poor”  rating.

NAHBWellsFargoHousingMarketIndexNewSingleFamilyHomeStartsDailyBusinessNewsMHProNews

The NAHB survey also asks builders to rate traffic of prospective buyers as “high to very high,” “average” or “low to very low.”

Scores for each component are then used to calculate a seasonally adjusted index, and any number over 50 indicates that more builders view conditions as good than poor. Against that understanding, all three HMI components posted gains in October.

They trade group also stressed that, “The NAHB/Wells Fargo Housing Market Index is strictly the product of NAHB Economics, and is not seen or influenced by any outside party prior to being released to the public.” Reports unfiltered by special interests?  What a concept. ## (News, analysis, commentary.)

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What Makes a “Worst Case” Renter? What’s Happening in Washington to Address Their Needs?

August 16th, 2017 Comments off
WorstCaseHousingNeeds2017ReportCoverCreditsHUDDailyBusinessNews

Featured image credit, HUD.

The nation lacks enough affordable housing for hard-working families,” said Granger MacDonald, chair of the National Association of Home Builders (NAHB).

As was previously reported at this link here, “Worst Case Housing Needs 2017 Report to Congress” was recently released by the Department of Housing and Urban Development (HUD).  It further confirms that affordable housing is increasingly out of reach for millions of renters in the United States.

The report found that 8.3 million households are now considered “worst case” renters.

HUD defines “worst case” renters as those who:

  • are very-low income, anyone making less than half of their areas median income;
  • with little or no rental assistance or subsidies;
  • who are either paying more than half their income on rent; and/or
  • are living in substandard housing.
PoorHousingPixabayManufacturedHousingIndustryDailyBusinessNewsMHProNews_001

Illustration of problematic housing provided by MHProNews.com.

The places in the U.S. with the highest number of “worst case” renters are:

  • New York metropolitan area (815,000 renters)
  • Los Angeles metropolitan area (567,000 renters)
  • Chicago metropolitan area (242,000 renters)
WorstCaseHousingNeedsGrowthCreditsWashingtonPostHUDDailyBusinessNews

Worst Case Housing Needs growth chart. Credit, Washington Post.

The new report from HUD showing that more than 8.3 million very-low-income households spend more than half their income on rent or live in substandard housing is a painful reminder of the acute affordable housing crisis confronting our nation,” said MacDonald.

While the information in the HUD report is gathered from 2015 American Housing Survey data, it falls right in line with other recent reports on the increasing cost of rental housing.

The Daily Business News recently reported that increased rental rates are pricing people out of their homes.

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Dr. Ben Carson, HUD Secretary, official photo.

Two years ago, our nation was still feeling the aftershocks of our housing recession with rents growing faster than many families’ incomes,” said HUD Secretary Ben Carson.  “After years of trying to keep up with rising rents, it’s time we take a more holistic look at how government at every level, working with the private market and others, can ease the pressure being felt by too many un-assisted renters.  Today’s affordable rental housing crisis requires that we take a more business-like approach on how the public sector can reduce the regulatory barriers so the private markets can produce more housing for more families.”

At 8.3 million very-low income households this is the second-highest number of “worst case” renters ever recorded by HUD. This issue spans across all demographics and regions, affecting individuals and families across the U.S.

Solutions are Plentiful, but the Obvious is Overlooked

With the affordable housing crisis only getting worse as time goes on a solution needs to be found.

There are a number of things the report suggests could be contributing to the increase in “worst case” renters including,

  • Increased competition for a shrinking supply of affordable housing,
  • The increasing number of people in need of rental assistance,
  • The availability of assistance on a federal level,
  • And increased rents and decreased homeownership.

Some observers believe that Congress, the Trump Administration, and HUD are all taking different approaches to the question of how best to provide worst case renters with relief, and possibly a better road to affordable homeownership.

compare-interiors-class-c-apartment-vs-modern-manufactured-home-credits-betweenapsontheporch-manufacturedhomelivingnews-com-posted-masthead-mhpronews-com-

Overlooking the obvious. Credits are as shown, collage by MHProNews.com.

According to RIS Media, HUD says the Trump Administration is “seeking to stimulate the production and preservation of affordable housing…by pursuing housing finance reform [to] unwind the federal government’s role in the private mortgage market and ease the stress on rental markets.”

compare-class-c-apartments-vs.3-star-manufactured-home-community-masthead-blog-manufacturedhousing-mhpronews-com-

Overlooking the obvious. Credits are as shown, collage by MHProNews.com.

A previous Daily Business News article featured a Fox News interview with HUD Secretary Ben Carson in regards to HUDs hopes to increase affordable housing opportunities.

HUDSecreetaryDrBenCarsonShedLightRecentMeetingManufacturedHousingIndustryDailyBusinessNewsMHProNews

Another recent article takes a look at the back-and-forth between Congress and the Federal Housing Finance Agency on when new credit score policies should be put in place for prospective homebuyers.

Other efforts by Congress include the “Affordable Housing Credit Improvements Act of 2017”, which the National Association of Home Builders has urged them to pass.

2014gao-report-comparing-manufactured-housing-vs-apartments-posted-manufacturedhomelivingnewsMHProNewscom-575x311

From the Government Accountability Office’s report on manufactured housing. Click the graphic above to download.

According to Mortgage News Daily the American Housing Credit Improvements Act would, “amend the Internal Revenue Code, renaming the Low-Income Housing Tax Credit as the “the affordable housing credit” and increasing state allocations for the credit and the cost-of-living adjustments.  It also revises the average income test for tenant eligibility requirements, and other requirements such as income eligibility for rural projects, increased tenant income, student occupancy rules, and tenant voucher payments that are considered rent.” 

GrangerMacDonaldCreditBuilderMagazineDailyBusinessNews

Granger MacDonald, chair of the National Association of Home Builders (NAHB). Credit, Builder Magazine.

The bill also would also seek to make more affordable housing available through the following concessions to builders, developers, and property owners:

  • Establishes a 4% minimum credit rate for certain projects,
  • Permits relocation costs to be counted as rehabilitation expenditures,
  • Repeals the qualified census tract population cap,
  • Requires housing credit agencies to make certain determinations regarding community revitalization plans,
  • Prohibits local approval and contribution requirements,
  • Increases the credit for certain projects designated to serve extremely low-income households and for certain bond-financed projects designated by state agencies,
  • Increases the population cap for difficult development areas, and
  • Eliminates the basis reduction for affordable housing properties that are allowed the credit and receive certain energy-related tax credits and deductions.

The bill also “modifies requirements regarding the reconstruction or replacement period after a casualty loss, rights related to building purchases, the prohibition on claiming acquisition credits for properties placed in service in the previous 10 years, foreclosures, and projects that assist Native Americans.”

In support of the bill, NHAB’s MacDonald testified in front of the Senate Finance Committee earlier this month.

Fees, regulatory compliance, modern building and energy codes, building materials, land and labor costs determine whether a project is financial viable,” said MacDonald. “If we want to provide affordable rental housing for lower-income households, we cannot do so without a subsidy.”

Why Are so Few in D.C. Talking About the Manufactured Housing Solution?

There is a relative lack of discussion in Washington, D.C. about manufactured housing as a solution to the affordable housing crisis.  Yes, there is MHI’s Preserving Access, and Duty To Serve (DTS), or a steady stream of comments from MHARR.

But what about the voices beyond our industry, or in addition to those who are getting PAC dollars to lobby for a bill?

RevDonaldTyeJrDailyBusinessNewsMHProNews

Rev. Donald Tye, Jr. Tye and his family have extensive experience with factory built homes, and they are pro-manufactured homes and the opportunities they provide to people from all backgrounds and income levels.

As we think about housing in today’s world, the most important aspect should start with affordability. When home ownership is affordable, it has ancillary benefits,” said actively retired businessman, minister, and MH advocate Donald Tye, Jr.

It’s a fact that manufactured and even modular housing can both be built at a fraction of the cost of conventionally built housing – for both single-family and multi-family residences.

The issues that MacDonald suggested cannot be overcome without a subsidy, including…

  • Building materials
  • Labor costs
  • Regulatory compliance
  • Modern building and energy codes

…can all be accomplished more affordably through manufactured housing.

While improving circumstances for renters is important, creating a more realistic path to homeownership – which has been harmed since the implementation of Dodd-Frank – will, say industry voices, be more beneficial in the long run.

As Tye said, homeownership has ancillary benefits – but only when it’s affordable.

LindseyBostick-SunshineHomesManufacturedHousingIndustryDailyBusinessNewsMHProNews

Many desire to move from renting to owning, but often struggle to find that a real possibility in the current site-built market. The manufactured housing industry can offer a solution to that problem,” said millennial Lindsey Bostick, to our sister publication MHLivingNews.

Manufactured housing is more affordable, more reliable, and quicker to build. Similarly, modular housing presents the opportunity to create rental apartments at a much lower cost compared to building a new conventional building.

Today’s manufactured homes can look and live like a conventional, site-built house, and can be half the price of new construction. Additionally, many manufactured homes are Energy Star rated, so they are more efficient than older, existing homes,” the university-graduated Bostick said.

Cities like

are turning to manufactured and modular housing as a more affordable alternative.

WhateverYouSubsidzeYouGetMoreOfIt-HopeHousingProjectBostonMassMHProNewsGraphicsStock555

They all realized that the best way to combat the affordable housing crisis is to build more affordable housing, rather than searching for subsidies and other changes that after decades of ever more costly efforts have proved elusive.


Will Congress, the Trump Administration or HUD come together in favor of the solution that is sitting in front of them, waiting to be utilized? ##  (News, analysis.)

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

 

 

The Latest Report on Credit Scores; and What It Means

May 30th, 2017 Comments off

CreditScoresWhichWayManufacturedHousingIndustryMHProNewsNew numbers out show that under the guidance of the Trump Administration, the nation’s economy is finally recovering from the recession.

According to the Daily Caller, Americans credit scores notched a record high this spring in conjunction with a decline in the share of U.S. consumers that are deemed to be high-risk borrowers. The average credit score hit 700 in April, the highest level since 2005. Also of note, the number of customers classified as the riskiest borrowers with a credit score below 600 make up just 20 percent of borrowers. This number is down from 25.5 percent seven years ago.

Additionally, about 6 million Americans will have bankruptcies removed from their credit scores within the next half decade, according to a report from Barclay’s PLC.

The increased scores represent reflection of the improving U.S. economy and a sign that customers are recovering from the housing crisis.

 

Progress…and Challenges?

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A look at the progress of the Trump Administration. Credit: CNS News.

Per Newsmax, there is some concern among economists that old spending habits are coming back, but the economy is in much better shape and home loans are not being handed out like so much free candy, which was the bane of the Great Recession.

Some of us are worried that consumers are going back into old habits, but the U.S. consumer is in a much different position before the financial crisis and even before in the late 1990s,” said Ryan Sweet, an economist with Moody’s Analytics.

An important question is also posed: are consumers getting into the kinds of debt trouble that lead to recessions?

Consumers now owe roughly $12.73 trillion to banks and other lenders for mortgages, car loans and credit card spending, according to the New York Federal Reserve. That exceeds even the total before the last financial crisis.

While economists feel that a consumer’s willingness to borrow is good, as it shows their confidence in their financial future, economists also see three main stress points: auto loans, credit cards and — to a greater extent but for different reasons — student loans.

If it’s not a tool you can use to build stability and long-term net worth, debt leads to more problems than it can solve,” said Todd Christensen, a credit counselor with the nonprofit organization Debt Reduction Services.

 

What Does This Mean for “Generation Buy?”

GenerationBuyMillennialsandHomeOwnershipcreditDailyCaller-postedtothedailybusinessnewsmhpronewsmhlivingnews

Avocados stopping home buying? Credit: Daily Caller.

Research from the National Association of Homebuilders (NAHB), the National Association of Realtors (NAR), and others, shows that millennials are likely to continue having trouble coming up with a down payment for a site-built home largely because of student debt.

This provides a huge opportunity for the manufactured housing industry to position itself as a viable option.

Many of the challenges and desires of millennials read like a list tailor-made for modern manufactured homes. Greener, more affordable, a choice of sizes, styles and customizable floor plans.

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Johnathan Smoke. Credit: Move.com.

Millennials “represent an ‘Oh, shift’ moment in housing,” said Jonathan Smoke, chief economist for Realtor.

Many desire to move from renting to owning, but often struggle to find that a real possibility in the current site-built market. The manufactured housing industry can offer a solution to that problem,” said millennial Lindsey Bostick of Bostick Homes.

Bostick has lived in several kinds of housing, and now is a manufactured homeowner herself, so she knows.

LindseyBostickSunshineHomesManufacturedHomes-ManufacturedHousingIndustryNewsMHProNews

Image credits, Lindsey Bostick, Inside MH Road Show, home photo, Sunshine Homes and ManufacturedHomes.com.

Today’s manufactured homes can look and live like a conventional, site-built house, and can be half the price of new constructionAdditionally, many manufactured homes are Energy Star rated, so they are more efficient than older, existing homes,” the university-graduated Bostick said.

For more on millennials and their desire for quality, affordable housing, click here. ##

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

 

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RC Williams, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

 

(Copyright Notice: This and all content on MHProNews and MHLivingNews always have been and are Copyrighted, © 2017 by MHProNews.com a dba of LifeStyle Factory Homes, LLC – All Rights Reserved. No duplication is permitted without specific written permission. Headlines with link-backs are of course ok. A short-quoted clip, with proper attribution and link back to the specific article are also ok – but you must send a notice to iReportMHNewsTips@mhmsm.com of the exact page you’ve placed/posted such a use, once posted.)

New Data from NAHB on Cash Sales for Homes

May 5th, 2017 Comments off
NewDatafromNAHBonCashSalesforHomescreditNAHBMPAMagMarletteHomes-postedtothedailybusinessnewsmhpronewsmhlivingnews

Manufactured Housing: a “front and center” solution. Credits: NAHB, MPA Mag, Marlette Homes.

New information from the National Association of Home Builders (NAHB) shows an interesting dynamic taking place with cash sales for homes.

According to MPA Page, NAHB’s analysis of recent census date showed that cash sales accounted for only 4.7 percent of new home sales, down from a peak of 9.5 percent in Q4 of 2014. The marks the lowest level since 2010.

By comparison, conventional mortgages were the dominant financing source for new home sales, coming in at 72.5 percent, the second-highest share since Q4 of 2014.

In an interesting note, the National Association of Realtors (NAR) noted that, despite the small percentage of cash finances in new home sales, a large share of existing homes are sold for cash.

In February 2017, cash sales made up 27 percent of existing home sales – the highest level since November of 2015.

NewDatafromNAHBonCashSalesforHomescreditBuyingBedfordRealEstate-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Buying Bedford Real Estate.

Other data from the NAHB report showed that FHA loans placed second behind conventional loans at 14.8 percent, followed by VA-backed home sales with 8.1 percent.

In the period between the 2001 financial crisis and the recession in 2008, VA loans averaged just 2.9 percent, but increased significantly to 9.3 percent on average after the recession in 2009.

 

Opportunities for Manufactured Housing Abound

solutionusaffordablehousingcrisishidingplainsight-mhlivingnews-billmatchneertonykovach-posteddailybusinessnewsmhpronews

Credit: MHLivingNews.

As the Daily Business News has reported prior, the traditional housing sector remains constrained by a dearth of properties available for sale.

Builders have cited a range of problems including shortages of labor and land as well as rising material prices. A recent survey showed that homebuilder confidence slipped in April from a near 12-year high in March.

The Daily Business NewsMHProNews and MHLivingNews continue to make the case for manufactured housing as a viable solution to hope for the American Dream of home ownership at a reasonable price extensively, including Bloomberg making a statement to the same effect.

The myths, and the facts surrounding manufactured housing abound. To learn more, including why manufactured housing is the solution hiding in plain sight for many to achieve the American Dream, click here. ##

 

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

 

rcwilliams-writer75x75manufacturedhousingindustrymhpronews

RC Williams, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

Rise and Fall – NAHB March Housing Report

April 20th, 2017 Comments off
NAHB Logo

Credit: NAHB.

New data in from the National Association of Homebuilders (NAHB) shows that homebuilding in the U.S. fell in the month of March, recording its biggest decline in three years.

According to the St. Louis Dispatch, housing starts declined 6.8 percent to a seasonally adjusted annual rate of 1.22 million units. February housing starts were revised up, to a 1.30 million-unit pace. Starts were previously reported at a 1.29 million-rate.

Single-family homebuilding dropped 6.2 percent to 821,000 units, with starts in the Midwest seeing their biggest drop (25 percent) since January 2014.

Economists polled by Reuters had forecast groundbreaking activity falling to a 1.25 million-unit pace last month. Homebuilding was up 9.2 percent compared to March 2016.

The report cites that unseasonably warm temperatures boosted construction in February, and a drop in temperatures, along with storms in the Northeast and Midwest, could have contributed to the drop in March homebuilding numbers.

housingstartsseebiggestgainsintenyearscreditmenofvalue-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Men of Value.

Overall, single family home starts in the Northeast remained unchanged while they rose 3.2 percent in the South, but fell 5.5 percent in the West. Starts for multi-family housing dropped 7.9 percent to a 394,000 unit-pace.

As the Daily Business News has reported prior, the traditional housing sector remains constrained by a dearth of properties available for sale.

Builders have cited a range of problems including shortages of labor and land as well as rising material prices. A recent survey showed that homebuilder confidence slipped in April from a near 12-year high in March.

The Daily Business NewsMHProNews and MHLivingNews have covered the case for manufactured housing as a viable solution to hope for the American Dream of home ownership at a reasonable price extensively, including Bloomberg making a statement to the same effect.

The myths, and the facts surrounding manufactured housing abound. To learn more, including why manufactured housing is the solution hiding in plain sight for many to achieve the American Dream, click here. ##

 

(Image credits are as shown above.)

 

rcwilliams-writer75x75manufacturedhousingindustrymhpronews

RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

Sunday Morning Weekly Recap Manufactured Housing Industry News April 2nd 2017 to April 9th 2017

April 9th, 2017 Comments off

sunday-morning-weekly-manufactured-home-pro-news-recap-1-4-to-1-10-2015-mhpronews-com-Our theme for this month is: Manufactured Housing Industry Politics – Complicated Cross Currents, or April Fools? and our featured articles are now live on the MHProNews.com home page.

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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8SundayMorningWeeklyRecapManufacturedHousingIndustryNewsApril2nd2017toAPril9th2017-postedtoManufacturedHousingIndustryDailyBusinessNewsMHProNews

Do Potential HUD Program Cuts Mean Opportunity for Manufactured Housing?

 

Triad Financial Services Introduces Superior Choice Credit Union to Manufactured Homes & Loans – Video

  

What’s New On MHProNews

 

Saturday April 8th, 2017

 

Green Building Materials Front and Center in Construction

 

 Friday April 7th, 2017

 

California Dreamin’ – Another Manufactured Home Community Under Siege

 

UPDATE: OMHA Provides Additional Details in OMHC Fight

 

LCI Spikes, Manufactured Housing CV Spikes, Broader Markets Down

 

Affordable Home Inventory Crisis – Manufactured Housing Center Stage?

 

Consumer Confidence Soars to Record High

 

 Thursday April 6th 2017

 

City Makes Moves to Preserve Affordable Housing

 

UMH Gains, Manufactured Housing CV, Broader Markets Up

 

Trump Card: March Jobs Report Delivers

 

Stinking Up the Place: Manufactured Home Community Issues

 

Renewed Calls for CFPB’s Cordray to Step Down

 

 Wednesday April 5th, 2017

 

State Program to Replace Older Manufactured Homes

 

Nobility Rises, Manufactured Housing CV Down, Broader Markets Spike, Then Fall

 

Do Potential HUD Program Cuts Mean Opportunity for Manufactured Housing?

 

State Signs Key Homebuyer Provision Into Law

 

HUD Code Manufactured Home Production Double-Digit Growth, February Report

  

Tuesday April 4th, 2017

 

Flight and Fight: MHC Residents Making Choices

 

Killam Soars, Manufactured Housing CV Dips, Broader Markets Rise

 

UPDATE: OMHA Fires Back in Manufactured Housing Commission Battle

 

MHARR: Update on Key Manufactured Housing Administrator

 

MHC Faces the Music – Different Place, Same Song

 

 Monday April 3rd, 2017

 

ELS Rises, Manufactured Housing CV, Broader Markets Dip

 

What’s the Truth About the Manufactured Housing Industry’s Potential?

 

NFIB Provides Vital Small Business Guide

 

Manufactured Home Community Suffers Setback

 

Moves In U.S. Home Price Index

 

Sunday April 2nd, 2017

 

Media, MHI Members Welcomed, Industry Warned

 

Sunday Morning Weekly Recap Manufactured Housing Industry News March 26th 2017 to April 2nd 2017

  

(Image credits are as shown above.)

 

rcwilliams-writer75x75manufacturedhousingindustrymhpronews

RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.