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Trump Card: March Jobs Report Delivers

April 6th, 2017 Comments off
TrumpCardMarchJobsReportDeliverscreditFortune-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Fortune.

President Donald Trump is known for his no-nonsense, get things done style. Coming into the White House, he had no plans to change it.

I will be the greatest jobs producer God ever created,” said President Trump just before his inauguration.

Believe me.

 

 

By all appearances, he’s on his way to delivering on that statement.

The ADP March private payrolls report is out, and showed another big jump.

According to CNBC, companies added 263,000 jobs for the month, which is well above the 185,000 expected from economists surveyed by Reuters and also better than the 245,000 reported for February.

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Credit: Heather’s Homilies.

Goods producing firms added 82.000 jobs, with construction accounting for 49,000 of that number.

Professional and business services was the leading sector for new jobs with 57,000, and leisure and hospitality added 55,000. Health added 46,000 jobs, manufacturing payrolls grew by 30,000 and trade, transportation and utilities rose by 34,000.

Also of note is where the jobs were created. As part of an ongoing commitment by President Trump to help small business, companies with fewer than 50 employees saw the biggest growth in jobs for March with 118,000, while companies with 50 to 499 employees added 100,000 jobs.

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Credit: CNBC.

Job growth is off to a strong start in 2017,” said Mark Zandi, chief economist of Moody’s Analytics.

The gains are broad-based but most notable in the goods producing side of the economy including construction, manufacturing and mining.

Markets were hopeful yesterday that President Trump could deliver on his pro-growth agenda. The report from the Labor Department is due at 8:30a ET tomorrow morning.

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Juanita Duggan, President and CEO of the National Federation of Independent Business (credit, NFIB).

As Daily Business News readers are aware, the January, February, and now March reports reflect anticipation of President Trump’s policies, meetings and movement, including the highest Small Business Optimism Index in 37 years from the NFIB.

We haven’t seen numbers like this in a long time,” said NFIB President and CEO Juanita Duggan in January.

Small business is ready for a breakout, and that can only mean very good things for the U.S. economy. Business owners are feeling better about taking risks and making investments.”

 

A View from the Industry

Even with the progress that’s been made, President Trump still faces an uphill battle.

As well as the markets and new job creation are already responding to his initiatives, where could we be if there wasn’t a non-stop assault on our new president?” said MHProNews and MHLivingNews Publisher L.A. “Tony” Kovach.

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L. A. ‘Tony’ Kovach addressing industry professionals in an educational session.

Back in November, Tim Williams told MHProNews that, “I am deeply encouraged that less than 24 hours into President Trump’s term, he has frozen new, potentially burdensome regulations.”  For his full comments, click here.

MHARR CEO, M. Mark Weiss, JD, shared similar thoughts with MHProNews in a story, linked here.

For more on the progress of the Trump Administration, including proposed budget cuts to National Public Radio (NPR) and the Corporation for Public Broadcasting (CPB), click here. ##

 

(Image credits are as shown above.)

 

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RC Williams, for Daily Business News, MHProNews.

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

Congressional Testimony Negates Sensationalized Charges of Predatory Lending

June 11th, 2016 Comments off


IDontThinkThereWasEverMuchHighCostLendingInTheManufacturedHousingMarket-stillcreditCSPAN2--RichardCordrayCFPBdirector-Posted-MHLivingNews-com-With all the negative publicity swirling around alleged predatory lending for purchasers of manufactured homes by the Seattle Times, National Public Radio and BuzzFeed within the last year, it’s time the media paid attention to congressional testimony that refutes these notions, according to L. A. “Tony” Kovach, publisher of MHLivingNews and MHProNews.

The Dodd-Frank Act that was supposed to protect people of modest means has had the opposite effect, hindering buyers, sellers and lenders in the affordable housing market.

Director of the Consumer Financial Protection Bureau (CFPB) Richard Cordray explained to a Senate committee why, percentage-wise, it is more expensive to originate and service conventional housing and manufactured home loans under $100,000, its just business math. He also said “there never was much high-cost lending” on MH, thus refuting news stories that accuse the industry of predatory lending.

During a hearing last spring Sen. Bob Corker (R-TN) tells Director Cordray that some of the regulations prevent homeownership, and in some cases it costs more to rent than to buy a home. Cordray responds, “this isn’t optimal for anyone.” Sen. Joe Donnelly (D-IN) spoke extensively about CFPB’s regulations that hamper MH sales.

A separate video linked in the MHLivingNews story documents how Don Glisson Jr., an MH lender who is chairman and CEO of Triad Financial Services, sheding light on this same topic.  Glisson explains on camera that without federal subsidies and with no taxpayer risk, chattel loans are made at the lender’s risk—without a secondary market, the lender has to hold the loan. If other lenders could charge less and still make a profit, they would quickly move in. That they don’t indicates MH lending is some fat profit and is clearly not predatory.

So both industry professionals and Cordray agree that MH lending isn’t predatory.  Then why has some in the mainstream media tried to paint a different picture?

A report from a 2014 Government Accountability Office (GAO) reveals that even with two-thirds of manufactured home loans at slightly higher rates, the payments on MH are often significantly lower than rent or other housing options.

Kovach says: “With the affordable housing crisis growing, there is an urgent need for fresh, accurate reporting that shines a light on the unfortunate consequences of federal rules that were well intended, but instead hurt the very people they were meant to help.”

Despite these barriers to affordable housing, MHProNews understands the sale of new manufactured homes is up 20 percent over last year’s total. Imagine how production might be if the barriers came down.

For additional reports and links to this information, please click. ##

(Photo credit: MHLivingNews Inside MH video, still from CSPAN2, graphic text, credit – MHLivingNews.)

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

Passages: Zig Ziglar

November 29th, 2012 Comments off

American author, salesman, and motivational speaker Hilary Hinton “Zig” Ziglar, who inspired millions, rubbed shoulders with U.S. presidents, and shared multiple stages other luminaries, died Nov. 28 in a Texas hospital of pneumonia at age 86, according to Wikipedia. A salesman for many years following his military service in World War II, he became vice president and training director for the Automotive Performance company in Dallas in 1968, and published the first of many books in 1975, See You at the Top, which had been rejected by 30 publishers. His curiousity about why some succeeded and others did not led to a thriving career as a sought-after motivational speaker, a role he maintained until two years ago. He attributed much of his success to his Christian faith and his wife, Jean. Some may see his words as corny or out-of-date, but according to a remembrance on National Public Radio, many recall a speech that made a huge difference in their lives. A featured writer for MHProNews, while we mourn his loss, fortunately we will continue to publish his wit and words of wisdom. Zig Ziglar: “People often say that motivation doesn’t last. Well, neither does bathing – that’s why we recommend it daily.”

(Photo credit: Wikipedia)

Community Ownership of Communities

May 4th, 2012 1 comment

A segment on National Public Radio (NPR) highlights the problem MHC residents may face if the MHC owner decides to sell his community, causing residents to lose a home that may no longer be mobile, and thus their financial investment. Where some people may see this as a huge boulder that cannot be moved, ROC (Resident Owned Communities) USA, a non-profit based in Concord, New Hampshire sees an opportunity for community residents to purchase the land their homes sit on as a co-operative. When a community comes up for sale, Paul Bradley, president of ROC, and his team help residents form an entity to make a bid on the land. If the bid is accepted, ROC helps the co-op find investors. To date he has received backing from several foundations, but he hopes to tap into the deep well of commercial markets, much like the $13 million Bank of America has invested. B of A’s’ Dan Latendere says ROC has a good business model. Says Bradley, “On over $200 million worth of total lending, not a single lender has lost a single dollar over the course of the last 30 years.” He sees MHCs as affordable housing for people of low to moderate incomes, and co-ops as the opportunity to control their destiny. MHProNews.com has learned community owner George Allen was quoted as supporting the ROC option. “ROC USA has helped 2,200 homeowners in 35 communities purchase their parks and gain economic security,” says Bradley. He adds, “I want resident ownership to be available to every homeowner group in the country that wants to buy their community.”

(Image credit: National Public Radio)