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Posts Tagged ‘National Association of Home Builders’

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

April 30th, 2019 Comments off

NAHBlogoNationalAssocHomeBuilderHUDLogoInnovativeHousingShowcaseWashJune1-52019ManufacturedModularHousingMHProNews

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.

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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

 

 

 

 

 

4 Concerns of Homebuilders Have Impacting Every American

March 20th, 2018 Comments off

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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.”

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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.”

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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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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.
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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.

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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.”

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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.

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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.” 

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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?

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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.

 

 

Homebuilder Confidence Numbers Show Need for Manufactured Housing

May 18th, 2017 Comments off
NewDatafromNAHBonCashSalesforHomescreditNAHBMPAMagMarletteHomes-postedtothedailybusinessnewsmhpronewsmhlivingnews

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

New data from the National Association of Home Builders (NAHB) and Wells Fargo’s Housing Market Index (HMI) showed that homebuilder confidence grew in May to its second highest point since the recession.

The report, which is compiled from a monthly survey that the NAHB has conducted for 30 years, gauges homebuilder sentiment of current single-family homes sales, and expectations over the next six months.

According to HousingWire, homebuilder confidence increased by two points in May, rising to 70, up from 68 in April. In the survey, a number over 50 indicates that most homebuilders in the survey view conditions as good rather than poor.

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Granger McDonald. Credit: Builder Magazine.

This report shows that builders’ optimism in the housing market is solidifying, even as they deal with higher building material costs and shortages of lots and labor,” said NAHB Chairman Granger MacDonald.

As the Daily Business News covered here, the Commerce Department reported that single-family homebuilding market rose 0.4 percent to a pace of 835,000 units in April, with single-family starts growing 19.4 percent in the Midwest and 9.1 percent in the West, while they fell 3.4 percent in the South and tumbled 29.2 percent in the Northeast.

While Granger sees optimism, economists polled by Reuters believe that homebuilders are failing to effectively take advantage of a chronic shortage of properties for sale amid complaints about expensive building materials and shortages of lots and labor.

Overall, two of the three components that make up the HMI increased in May, with the sales expectation component rising four points to 79, and the current sales component rose two points to 76. By comparison, the component that measures buyer traffic dropped to 51.

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Robert Dietz. Credit Twitter.

The HMI measure of future sales conditions reached its highest level since June 2005, a sign of growing consumer confidence in the new home market,” said NAHB Chief Economist Robert Dietz.

Especially as existing home inventory remains tight, we can expect increased demand for new construction moving forward.”

 

 

 

Increased Demand… But Can It Be Met?

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A Clayton Homes factory. The ability to produce quickly and effectively with proper oversight is key to solving housing challenges. Credit: Clayton Homes.

Comments from Dietz expose a significant challenge for the site built housing industry, where a confluence of cost, labor, timing and demand all meet… and cannot be satisfied quickly enough.

With consumer demand for quality, affordable housing that can be delivered quickly, the manufactured housing industry sits “in the driver’s seat” when it comes to being able to fill that gap.

Even though manufactured and modular homebuilders are also susceptible to crunches at times, one of the numerous advantages of factory building is the ability to recruit and train team members who can work effectively in a production center environment. When combined with the ability to significantly cut down on production time, manufactured housing serves as the ideal solution to inventory and housing challenges.

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Credit: MHLivingNews.

For more on manufactured housing being the solution that’s hiding in plain sight, see MHProNews and MHLivingNews Publisher L.A. “Tony” Kovach’s insight into the opportunity linked here. ##

 

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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.)

Homebuilder Confidence Plunges, Golden Opening for Manufactured Housing

May 17th, 2017 Comments off
HomebuilderConfidencePlungesPotentialBoomforManufacturedHousingcreditsForgingMagazineRetireNet-postedtothedailybusinessnewsmhpronewsmhlivingnews

Is a “bust” in retirement funds a potential “boom” for manufactured housing? Credits: Forging Magazine, RetireNet.

Recently released data from the National Association of Home Builders (NAHB), shows that the 55+ Housing Market Indexes (HMI) for single family homes posted significant declines in all three components in the first quarter of this year.

According to Consumer Affairs, the HMI’s for present sales dropped 12 points to 62, expected sales for the next six months was down seven points to 68 and traffic of prospective buyers fell 15 points to 34.

We saw an unusually high 55+ single-family HMI in the 4th quarter of 2016 due to a post-election surge in optimism. As this wears off, confidence is returning to a more sustainable level,” said NAHB Chief Economist Robert Dietz.

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Robert Dietz. Credit Twitter.

Although builders are struggling with shortages of labor and lots, as well as higher lumber prices, market conditions on balance remain favorable, and we expect solid growth in the 55+ housing sector.”

 

The Real Cause for Concern – a One-Two Punch?

While Dietz sees solid growth ahead, bigger issues are in play.

According to FOX Business, a GOBBankingRates survey showed that one out of every three Americans has absolutely nothing saved for retirement.

HomebuilderConfidencePlungesPotentialBoomforManufacturedHousingcreditGoBankingRates-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: GoBankingRates.

Additionally, the average 50 year old only has about $60,000 saved for retirement, and 47 percent of single seniors are almost completely dependent on Social Security. Twenty-two percent of married couples have the same challenge.

With an average of 10,000 baby boomers turning 65 everyday, and many not having the resources to maintain the lifestyle to which they are accustomed, a crisis looms… including affordable housing.

 

A Manufactured Housing Boom?

StanPoseySunshineHomesRedBayAL-postedDailyBusinessNewsMHProNews

Stan Posey, Sales Manager, Sunshine Homes.

As MHProNews and MHLivingNews continue to make the case for manufactured housing as a viable solution to hope for the American Dream of home ownership, it also represents an opportunity for those headed into retirement to downsize into a quality residence at a reasonable price. And some in the industry see the opportunity clearly.

When the National Association of Realtors chief economist says there are more buyers than existing homes available on the market, that should be a huge signal to manufactured and modular home professionals,” said Stan Posey, sales manager at Sunshine Homes of Red Bay, AL.

We build residential style homes that target the site-built customer,” Posey said.Some of our retailers and communities are doing very well by targeting the site-built customer.”

One of those retailers is Stan Dye of Star Homes.

StanDyeStarHomesCullmanALSunshineHomesRedBayALIndependent-ModelSHI3270-303-kitchen2

Stan Day, Star Homes, Cullman AL at top left. Sunshine Homes model SHI3270-303.

Dye told Inside MH recently that about 70% of their buyers first owned a conventional stick-built house.

The upside opportunity is clearly immense in the residential side of the manufactured home industry,” Posey told MHProNews.

That, combined with our marketing and sales support to independent retailers and communities, are factors why Sunshine Homes is growing significantly faster than the overall growth rate of the industry at large.

For more on manufactured housing as America’s solution to the American Dream, and retirement, click here. ##

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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

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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.

Green Building Materials Front and Center in Construction

April 8th, 2017 Comments off

Credit: Environmental Leader.

In a new report from Allied Market Research, the firm shows significant market growth for green building materials over the next five years.

According to the Environmental Leader, the “Green Building Materials Market Report” forecasts that the global market is expected to grow from $171,475 million in 2015 to $377,029 million by 2022, growing at a compound annual growth rate of 11.9 percent from 2016 to 2022.

The report also shows that the emission reduction potential of green building materials, higher asset value of green buildings, growth in public awareness regarding green materials, and increase in client and market demand are the major factors that will drive market growth.

With reduced operating costs and a better indoor working environment, the report states that those factors will add to market demand for green building materials.

As Daily Business News readers are already aware, the manufactured and modular housing industries have long shown the significant upside of factory built housing, including lower costs, a more consistent product and strict federal standards.

Factory-built homes are becoming more popular in the housing industry as builders face a shortage of construction workers. Among the upscale modular homes covered, includes the work done by Revolution PreCrafted Homes, where Eric Trump sits on the board of directors. In a survey from the National Association of Home Builders (NAHB), the NAHB/Wells Fargo Housing Market Index reported that on average, single-family homebuilders use 10.2 different green products or practices, and 22 percent always or almost always have their homes certified to a green standard.

For more on the green building movement, including Karen Adams, President and CEO of Green Dwellings in Palm Beach, Florida aiming to be the Tesla of modular green homes, click here. ##

 

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RC Williams, for Daily Business News, MHProNews.

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

NAHB Commentary On Dodd-Frank Rollback

February 9th, 2017 Comments off
NAHBCommentaryOnDoddFrankRollbackcreditNBCNewsNAHB-postedtothedailybusinessnewsmhpronewsmhlivingnews

Trump signs the Dodd-Frank Executive Order. Credits: NBC News, NAHB.

The National Association of Home Builders (NAHB) has expressed support of President Donald Trump’s actions to roll back the Dodd-Frank Act.

As Daily Business News readers are aware, President Trump signed an Executive Order to begin the rollback process that will direct the Treasury secretary to review the 2010 Dodd-Frank financial oversight law, which reshaped financial regulation after the 2008-09 financial crisis.

Dodd-Frank is a disaster, said Trump, during a meeting last week with small business owners, including NFIB President and CEO Juanita Duggan

We’re going to do a big number on Dodd-Frank.

NAHB commends President Trump on his announcement to reform regulations in the Dodd-Frank Act that have hampered our nation’s housing recovery and slowed economic growth,” said NAHB Chairman Granger MacDonald.

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Granger MacDonald. Credit: Builder Magazine.

We support common-sense regulations to protect American consumers and preserve our nation’s banking system, however, the tight lending conditions created by Dodd-Frank are preventing too many home builders from receiving loans and restricting mortgage financing to credit-worthy borrowers.

The Daily Business News, MHProNews and MHLivingNews have covered Dodd-Frank and its impact on the manufactured housing industry extensively, including the Consumer Financial Protection Bureau (CFPB). Their impact on affordable housing has, in essence, created a “Renter’s Nation”.

Don Glisson, CEO of Triad Financial Services, has a very intimate understanding of the impacts both agencies have on the industry.

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Credit: MHLivingNews. For the full article, click here or on the photo above.

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Don Glisson. Credit: Triad Financial.

Our compliance costs have quadrupled in the past three years alone,” said Glisson.

We are the answer to the country’s affordable housing issues, but we don’t get fair treatment at the federal level. There are no MH dwellers inside the Beltway, so we must not be a good housing choice in their eyes. Government is taking sides and it’s harming the very middle-class they profess to want to help.

MacDonald has a similar line of thinking.

Regulatory relief for mortgage lenders and small and mid-sized banks that serve their communities is critical for the nation’s housing recovery,” said MacDonald.

NAHB has been calling for reduced regulatory burden on real estate lending since Dodd-Frank’s passage in 2010.” ##

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RC Williams, for Daily Business News, MHProNews.

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

Looking for Millennials? You Likely Won’t Find Them in the Home Building Sector

November 29th, 2016 Comments off
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Credit: RIS Media.

While millennials continue to make their way into the workforce, barely any of them have chosen construction as an option.

For some, this is not a surprise.

According to a recent poll conducted by the National Association of Home Builders (NAHB), 76 percent of builders indicated cost and availability of labor as their major problem. The poll concludes that the anticipated construction labor shortage could cripple the improving housing market.

There are currently 184,000 open construction sector jobs,” said Robert Dietz, chief economist at the NAHB. “The rate of unfilled sector jobs has been on the rise and now stands at rates near cycle highs and at levels comparable to the housing boom period. The rising rate of unfilled jobs has slowed the construction sector’s net job growth.

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Credit: NAHB.

Rusty Morgan, president and CEO of Structura, believes there are a number of factors that have contributed to the decline in laborers.

One of them is that many construction workers moved to the energy sector during the boom—and the second one is there’s no escaping that today’s younger generation prefers to sit behind a computer, instead of doing something that requires more of physical effort.

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Rusty Morgan. Credit: Structura.

Younger generations want higher paying salaried positions with benefits,” said Morgan.

As higher education tends to be the avenue for such positions, today’s construction workforce is leaning more and more toward the Latino American community. The mindset of today’s youth in not wanting to pursue skilled labor is indicative of the fact that we have not focused enough time as an industry in creating an enticing work environment for the next generation of construction workers.

Is improving wages the only way to attract the millennial workforce to construction?

Morgan believes there’s more to it.

We can focus our resources to make the skilled labor force look attractive for the next generation,” said Morgan.

For too long the American thought has been, ‘Educate yourself, so you don’t have to work in the sun and with your hands.’ Similar to the way college education was perceived as ‘the answer’ two generations ago, we must find a way to change the mindset of the labor force. We must bring back the trade classes in high schools, recruit more high school kids, create more opportunity in apprenticeship programs, and make it a priority to give our workers better pay, benefits, and safer job sites.

While manufactured and modular home builders can also feel this pinch at times, one of the numerous advantages of factory-building is the ability to recruit and train team members that can work effectively in a production center environment. Or as John Bostick, owner and president of Sunshine Homes said in an interview this summer, “We have an almost unlimited capacity” to expand production.

Lindsey Bostick, a millenial herself, is being groomed to run the operation some day. ##

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RC Williams, for Daily Business News, MHProNews.

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

U.S. Homebuilder Confidence, November Report

November 26th, 2016 Comments off
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Credit: People’s Pundit Daily.

The National Association of Home Builders (NAHB)/Wells Fargo builder sentiment index was released on November 16th and remained unchanged at 63. The index is two points below September’s reading, which was the highest in nearly a year. Readings above 50 indicate that builders view sales conditions as good rather than poor.

Ongoing job creation, rising incomes and attractive mortgage rates are supporting demand in the single-family housing sector,” said Robert Dietz, the NAHB’s chief economist. “This will help keep housing on a steady, upward glide path in the months ahead.

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Robert Dietz. Credit Twitter.

Builders’ view of current sales held steady from last month, while a gauge of traffic by prospective buyers edged higher. But their outlook for sales over the next six months declined slightly.

Even so, builders remain optimistic overall about new home sales, which are running ahead of last year’s pace.

The index shows that sales of new U.S. homes hit a seasonally adjusted annual rate of 593,000 units as of September, which is up nearly 30 per cent from a year ago. Sales of new homes were up 13 per cent through the first nine months of this year compared to the same period in 2015.

A healthy job market and low interest rates have bolstered demand for new homes and fueled construction of single-family homes this year. Still, builders complain new construction is being hampered by a shortage of skilled labor and rising costs for ready-to-build land parcels in many markets.  That reality, and other factors, have been cited by MHProNews as reasons why factory-home building could be poised to gain market share, given the right steps by industry companies and leaders.

NAHB Logo

 

This month’s NAHB builder index was based on 325 respondents.

Though new homes represent only a fraction of the housing market, they have an outsized impact on the economy. Each house conventionally built creates an average of three jobs for a year and generates about $90,000 in tax revenue, per NAHB data. By comparision, each manufactured home built ads about one job to the economy, because of greater efficency. ##

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RC Williams, for Daily Business News, MHProNews.

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