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Economist Kudlow says, “Trump…Ending War on Business,” Reactions, MH Industry Impact

October 9th, 2017 Comments off

LarryKudlowTrumpEndingWaronBusinessDailyBusinessNewsMHProNews438Tax and regulatory policy impacts the manufactured housing industry, much as it does other industries and parts of the economy.

The National Association of Manufacturers (NAM), and the National Federation of Independent Business (NFIB) are among those supporting tax reform, as the Daily Business News on MHProNews has previously reported.

So, it with interest that many industry professionals are following the tug-of-war in the nation’s capital over tax policy and proposed tax reform.

Kudlow On the Air

Larry Kudlow sounded off on the topic on Sunday, in a radio interview with John Catsimatidis on AM 970 in New York, per reports by a slew of media outlets.

Ending the War on Business

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Screen capture of some of the mainstream media coverage on this topic.

Donald Trump is, in fact, ending the war on business,” Kudlow said during the radio interview.

Trump is ending the punishment of investment. That’s what this tax bill is really about: The return on capital will go up after tax,” the Hill reported, adding that Kudlow said. “The cost of capital will go down after tax. And that will lead directly into new business projects, and more hires, and better wages and productivity. It doesn’t get any better than this.”

It echoes a refrain that Kudow has been sharing for months, as this recent interview on CNBC reflects.

Left Leaning Media Revolt, While Kudlow Wrote The Book

Left of center outlet, NYMag says of the economist, author and commentator that “Kudlow is a fanatical adherent of supply-side economics.”

The Huffington Post has snarked, Kudlow is best known for being wrong,” while Bloomberg has said,  “Kudlow Is a Troubling Economics Adviser for Trump.”

SnarkyDefinedCrankySharplyCriticalCuttingSnide-postedDailyBusinessNewsMHProNews

But does history prove otherwise?

During the first term of the Reagan administration (1981–1985), Kudlow was associate director for economics and planning in the Office of Management and Budget (OMB), a part of the Executive Office of the President,” says Wikipedia.

Kudlow has literally written the book on how Democratic President John F. Kennedy, as well as GOP President Ronald Reagan both cut tax rates.  Each saw significant economic growth in their wake.

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Furthermore, while revenues to the federal government initially dropped, over time, they rose in both cases.

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Kudlow and business associations are far from alone in promoting tax reform.

Billionaire Steve Forbes has argued for tax reform and simplifying the code for years, see a recent report, linked here.

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Chart used by Steve Forbes, image credit, Prager U.

Forbes reminds his readers and listeners that properly done, tax reform is more than just money savings that frees capital to create more growth.  Forbes argues for tax reform to avoid the time lost in tax compliance.

White House Press Room to MHProNews

The White House press room sent a reminder to MHProNews about President Donald J. Trump’s op-ed in a Wisconsin newspaper that focused on tax reform.

In that presidential op-ed in the Milwaukee Journal Sentinel, he said the country’s “self-destructive tax code costs Americans millions of jobs, trillions of dollars and billions of hours spent on compliance and paperwork.”

That’s a point that mirrors Forbes’ observation, noted above.

To fix this, we have made the foundation of our job creation agenda fundamentally reforming our tax code for the first time in more than 30 years,” President Trump wrote in the op-ed.

I want to work with Congress on a plan that is pro-growth, pro-jobs, pro-worker and pro-American.”

The president has that his tax plan would “dramatically reduce” the “income taxes for American workers and families.”

While the White House and House speaker Paul Ryan are quoted by the Hill as saying they expect some bi-partisan support. But given the partisan trench warfare in Washington, D.C., that’s not yet a given.

Those who support tax reform should let their senators and congressional representative know. The links below can help you contact your elected officials by phone or message.

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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?”

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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.

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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.)

Housing Starts Fall, Bottleneck to Economic Recovery-Manufactured Housing to the Rescue?

May 17th, 2017 Comments off
HousingStartsFallBottlenecktoEconomicRecoveryManufacturedHousingtotheRescuecreditTheEconomist-postedtothedailybusinessnewsmhpronewsmhlivingnews

Is the bottleneck bubbling just under the surface? Credit: The Economist.

New U.S. homebuilding numbers showed an unexpected drop in the month of April, dropping to their lowest level in the last five months.

According to Newsmax, persistent weakness in the construction of multi-family housing units, could suggest a slowdown in the housing market recovery.

The Commerce Department said that housing starts dropped 2.6 percent to a seasonally adjusted annual rate of 1.17 million units. April’s results follow a downwardly revised rate of 1.20 million units in March.

The single-family homebuilding market rose 0.4 percent to a pace of 835,000 units.

By region, single-family starts grew 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.

Economists polled by Reuters believe that homebuilders are failing to take advantage of a chronic shortage of properties for sale amid complaints about expensive building materials and shortages of lots and labor.

Analysts also believe weather was a factor.

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Credit: BMO Capital Markets.

Some of the drop in starts could be weather-related – parts of the United States experienced snowstorms in March and heavy rains in April,” said Jennifer Lee, a senior economist at BMO Capital Markets in Toronto.

So Mother Nature had a hand in this. Looking ahead, there is room for growth.

National Association of Realtors chief economist Lawrence Yun sees the problems lasting longer.

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Lawrence Yun. Credit: The Business Journals.

With housing starts declining in April, inventory shortages will continue for a longer period of time,” said Yun.

The intensifying housing shortage will push up home prices and rents, and easily above wage growth and the broad consumer price inflation. This continued, slow pace of construction of new homes is a major bottleneck to a faster economic and housing recovery.”

According to HousingWire, experts were not expecting the decrease in starts this month, and were actually waiting for an increase after the decline in March.

HousingStartsFallBottlenecktoEconomicRecoveryManufacturedHousingtotheRescuecreditFirstAmerican-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: First American.

The lack of inventory of homes for sale is one of the most pressing challenges in the housing market today, and new homes are the source of supply that increases the total stock of housing to meet our nation’s growing demand,” said First American Financial chief economist Mark Fleming.

 

 

Manufactured Housing: The Answer, Hiding in Plain Sight 

The Daily Business News has covered the labor shortage in home construction extensively, and continues to show evidence that manufactured housing is a practical and affordable solution to provide quality homes at a competitive price.

And, even though manufactured and modular homebuilders can also feel the “pinch” 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.

JohnBostickSunshineHomesRedBayALmanufacturedHomeLivingNews-MHProNews-

John Bostick, president, Sunshine Homes, Red Bay, AL.

As John Bostick, owner and president of Sunshine Homes said in an interview this summer, “We have an almost unlimited capacity” to expand production.

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. ##

 

(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.

 

(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.)

Outsourcing and the U.S. Economy: Can Trump Muscle Save the Day?

May 3rd, 2017 Comments off
OutsourcingandtheUSEconomyCanTrumpMuscleSavetheDaycreditlastlineofdefense-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Last line of defense.

India based IT services firm Infosys announced yesterday that they plan to hire 10,000 U.S. workers over the next two years and open up four additional technology centers, beginning in Indiana.

According to Newsmax, the move comes at a time when Infosys, along with fellow Indian companies Tata Consultancy Services and Wipro, are on the radar of the Trump Administration for displacing U.S. workers by bringing in cheaper foreign workers as a part of the H1-B Visa program, paying them less.

The Trump Administration has ordered federal agencies to review the program.

When you think about it from a U.S. point of view, obviously creating more American jobs and opportunities is a good thing,” said Infosys Chief Executive Vishal Sikka, who said the company plans to hire U.S. workers in fields such as artificial intelligence.

Sikka also says that Infosys has already hired 2,000 U.S. workers as part of a previous effort started in 2014.

OutsourcingandtheUSEconomyCanTrumpMuscleSavetheDaycreditHindustanTimes-postedtothedailybusinessnewsmhpronewsmhlivingnews

Vishal Sikka. Credit: Hindustan Times.

We started small at first and have been growing since then,” said Sikka.

The reality is, bringing in local talent and mixing that with the best of global talent in the times we are living in and the times we’re entering is the right thing to do. It is independent of the regulations and the visas.”

 

How Outsourcing Jobs Affects the Economy

According to a report from The Balance, the main negative effect of outsourcing is it increases U.S. unemployment.

The 14 million outsourced jobs are almost double the 7.5 million unemployed Americans. If all those jobs returned, it would be enough to also hire the 5.7 million who are working part-time but would prefer full-time positions.

The report also says that imposing laws or terms to restrict job outsourcing could make U.S. firms less competitive.

According to a study from Pew Research, major changes are reshaping U.S. workplaces as the economy moves deeper into the “knowledge-focused age.”

OutsourcingandtheUSEconomyCanTrumpMuscleSavetheDaycreditPewResearch-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Pew Research.

These changes are affecting the very nature of jobs by rewarding social, communications and analytical skills. They are prodding many workers to think about lifetime commitments to retraining and upgrading their skills.

The study cites that the number of workers in occupations requiring average to above-average education, training and experience increased from 49 million in 1980 to 83 million in 2015, or by 68 percent.

This was more than double the 31 percent increase over the same period in employment, from 50 million to 65 million, in jobs requiring below-average education, training and experience.

 

Hope for Lost Jobs? President Trump in Action 

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Credit: Heather’s Homilies.

President 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.

In the ADP March private payrolls report, companies added 263,000 jobs for the month, which was well above the 185,000 expected from economists surveyed by Reuters, and also bested the 245,000 reported for February.

Even with a slight move down in April, surveys still show that confidence in the economy is strong.

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

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

That has resonated with the small business community as well, as the January, February, and March reports reflect anticipation of President Trump’s policies, including the highest Small Business Optimism Index in 37 years from the NFIB.

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Juanita Duggan. Credit: 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.

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L. A. ‘Tony’ Kovach is the publisher of MHProNews.com, MHLivingNews.com and MH Consultant.

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.

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

For more on the nations economic progress, including a recap of President Trump’s first 100 days, 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.

Economic Confidence Index Hits New High – the Trump Effect?

February 9th, 2017 Comments off
EconomicConfidenceIndexHitNewHightheTrumpEffectcreditInfowars-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Infowars.

It appears that Americans saw the election of Donald Trump as good reason to be optimistic.

According to Newsmax, confidence in the U.S. economy soared to record highs at the time President Donald Trump officially entered the White House, as optimism was higher in January than in any other month since 2008.

 

Gallup’s “U.S. Economic Confidence Index” was at an average of plus 11, the highest monthly average in Gallup’s nine-year trend. The index peaked at plus 19 for the Jan. 21-23 three-day average after Trump’s inauguration and shortly before the Dow Jones industrial average hit a new high.

EconomicConfidenceIndexHitNewHightheTrumpEffectcreditGallup-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Gallup.

The Gallup index is actually an average of two components – how Americans rate the current economic conditions, and, whether they feel the economy is improving or getting worse. The index has a maximum of plus 100 if all Americans said that they economy was improving and doing well, and minimum of minus 100 if all Americans said the economy was doing poorly or getting worse.

In January, 31 percent of Americans rated the economy as “good or “excellent,” while 21 percent said the economy was “poor,” resulting in a current conditions score of plus +10, marking the highest monthly reading for this component since 2008.

EconomicConfidenceIndexHitNewHightheTrumpEffectcreditGallup2-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Gallup.

Also seeing an increase of plus 11 in January was the economic outlook component, which was the result of 52 percent of Americans saying economic conditions in the country were “getting better,” while 41 percent said they were “getting worse.

While his first few weeks have certainly been volatile and controversial, Trump will be a demanding leader who applies the best of his negotiating skills to push for U.S. growth,” said author David Horowitz.

EconomicConfidenceIndexHitNewHightheTrumpEffectcreditFrontpageMag-postedtothedailybusinessnewsmhpronewsmhlivingnews

David Horowitz. Credit: Frontpage Mag.

Trump won’t be an ideological purist like Republicans who support free trade but don’t fight for fair trade.

Horowitz also made a strong statement about the prior administration.

We’ve had an anti-business president now for eight years who doesn’t take a hard-nosed attitude towards these deals. Trump is going to get better deals for us, which is still free trade.

Trump will also lead the way in making infrastructure spending to boost the U.S. economy,” said Horowitz.

If the economy grows as it will under Trump, there’s going to be a lot more money to spend.

For more on the effects of Donald Trump’s election on the U.S. economy, including small business optimism being at the highest level in 37 years, 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.

Trump Signs Executive Order, Dodd-Frank Roll Back to Begin

February 3rd, 2017 Comments off
TrumpSignsExecutiveOrderDoddFrankRollBacktoBegincreditNewsMax-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Newsmax.

A busy day for President Donald Trump, as he signed orders to implement additional sanctions on Iran, met with his CEO executive council and signed an Executive Order that is significant to the manufactured housing industry.

According to the Daily Mail, the Executive Order to be signed by President Trump will direct the Treasury secretary to review the 2010 Dodd-Frank financial oversight law, which reshaped financial regulation after the 2008-09 financial crisis.

During the campaign, President Trump pledged to repeal and replace the Dodd-Frank law, which also created the Consumer Financial Protection Bureau (CFPB), and administration officials argue that Dodd-Frank did not achieve what it set out to do, instead seeing it as an example of massive government over-reach.

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

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

While the Executive Order is not expected to have an immediate impact, it directs incoming Treasury Secretary Steven Mnuchin to consult with members of different regulatory agencies and the Financial Stability Oversight Council and report back on potential changes.

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Credit: MHLivingNews.

MH Industry Impact

As industry professionals know, Dodd-Frank and the CFPB have had a significant impact on affordable housing, in essence creating a “Renter’s Nation”.

The sweeping 2,000-page Dodd-Frank regulations were never meant to apply to factory-built homes at all, according to a letter written by the law’s co-sponsor, Barney Frank. In a response to a constituent, Frank said, “I do not think it is necessary to include manufactured housing as part of our effort to prevent abusive mortgage practices, and I am now working with my staff to see if we can find a way to make a change that would deal with the problem you correctly point out…

Nevertheless, industry professionals say MH financing has been so profoundly impacted, it is hurting the people who can least afford it — low- to moderate-income buyers trying to make the transition from renting to owning their own homes.

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For “A Cup of Coffee With…” Don Glisson, Jr., click here or on the photo. Credit: Triad Financial.

Our compliance costs have quadrupled in the past three years alone,” says Don Glisson, CEO of Triad Financial Services, another leading MH lender in the “A” credit market for more than half a century.

Triad and CU Factory Built rank third and fourth in the MH finance market for buyers with FICO scores above 650.

In our “A Cup of Coffee With…” segment with Glisson, he discussed in detail the challenges with those in government understanding manufactured housing.

I would love to think that MH is considered mainstream housing, but the truth is we are still the red-headed stepchild in the eyes of many, especially the ‘elites’ who supposedly know what’s good for everyone, and of course many of these elites work in government,” 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.

For more on Dodd-Frank’s impact on the manufactured housing industry, 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.

Single Women Dominate Men in Home Buying

February 2nd, 2017 1 comment
LindseyBostickSunshineHomesManufacturedHomes-ManufacturedHousingIndustryNewsMHProNews

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

In what could be considered a case of “don’t believe everything you hear,” it turns out that single women are active when it comes to home buying in a big way.

According to Newsmax, new research about women is revealing.

Women earn less than their male counterparts, pay harsher workplace penalties for pursuing parenthood, struggle more with debt, and save less for retirement.

But the one area of personal finance where single women are outpacing men in the U.S. is an important one: home ownership.

Women have been pacing ahead of men in data from the National Association of Realtors (NAR) since 1981, but Jessica Lautz, NAR’s managing director of survey research and communications says that the gap has widened even further in recent years.

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Jessica Lautz. Credit: Twitter.

Single women are also likelier than single men to be parenting on their own, and therefore likelier to seek stable housing for raising children,” said Lautz.

If you have children, it’s definitely going to play a role in where you’re thinking of living and how. And a mortgage can provide financial security. I think women, even with lower incomes, want a place where they can have roots and really own a place. The psychological desire to do that is great.

And that was the case for Michelle Jackson, a 30-something writer from Denver.

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Michelle Jackson. Credit: Bloomberg.

I wanted to have my own place,” Jackson said.

A lot of people in my circle of friends were women purchasing their homes when they got married, but I still felt like I wanted to build my own wealth and buy. If and when I met someone, it’s something that just added to what I bring to the relationship. It didn’t make sense to wait.

Jackson ended up being pre-approved for a 30-year, fixed-rate mortgage and had put an offer in on a small, one-bedroom home in a triplex in Denver for $72,500.

She still lives there, and the home was recently appraised for double what she paid. She wants to renovate and possibly buy another property nearby.

I’m so happy,” said Jackson.

It’s completely changed how I feel connected to the place where I’m living. It’s one of the best things I’ve ever done.

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What the chart above reveals is that single women are the next largest group of home buyers, behind married couples, but ahead of single men and unmarried couples. Credit: NAR.

The trend also runs contrary to popular belief  that women “feel the clock ticking” when it comes to settling down. One professor says that isn’t the case.

Despite the stereotypes that insist that women care more about marriage than men do, it may actually be single life that women embrace more than men,” said Bella DePaulo, a professor at the University of California at Santa Barbara and the author of “Singled Out.

Some research suggests that single women are especially unlikely to be lonely—again, contrary to our stereotypes. … I think that buying a home is a way of living your single life fully, rather than seeing your single years as just marking time until you find The One.”

And for Rachel Weiss, a fashion executive in New York, she’s embraced that mantra, using a chunk of saved cash to work on a dream home in Manhattan.

I outgrew my apartment 10 years ago, and buying a home was always in the back of my mind,” said Weiss.

But I didn’t know what to do and never knew if I could afford an apartment. I started looking online at Trulia and Streeteasy, and the next day [real estate agents] started calling. It wasn’t premeditated or anything. It was almost like I was on Tinder for an apartment.

Weiss ended up putting an offer down on a one-bedroom co-op in Chelsea for $640,000. It was accepted, and she moved in last August.

There was a psychological aspect to it, too,” said Weiss.

I’m in my 40s, and I looked at what my life was like. I’m not married, I don’t have kids. I can live alone, and fabulously. I feel empowered.

A Single Female in Manufactured Housing Speaks

Linsey Bostick of Sunshine Homes, a single, millennial female, recently spoke to MHProNews and MHLivingNews on the topic of home ownership.

LindseyBostick-SunshineHomesManufacturedHousingIndustryDailyBusinessNewsMHProNewsMany 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 Bostick.

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

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 story on Millennials and quality affordable housing is linked here.

Associated research from Pew is available here, and 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.

Buffett, Billionaires Benefit from Trump Market Jump

January 2nd, 2017 Comments off

BuffettBillionairesBenefitFromTrumpBumpHand100sCreditNewsmaxDollarPhotoClub-ManufacturedHousingIndustryDailyBusinessNewsMHProNewsBloomberg and Newsmax are among the mainstream media who report the irony highlighted by MHProNews earlier this month.

 

Namely, that Warren Buffett – who supported Secretary Hillary Clinton during the 2016 presidential election campaign – has seen his net worth jump by billions since the election of Donald J. Trump.  Most billionaires backed the Democratic candidate, and several in the energy and other sectors are seeing their wealth rise thanks to the ‘Trump market rally.’

Buffett’s wealth has soared some $11.8 billion by late December, as stocks in banking and airlines are among the Berkshire Hathaway holdings that spiked since November 8th.

As manufactured housing industry professionals know, Berkshire Hathaway is the parent to Clayton Homes production and retail operations, along with and several lending, production, suppliers and other housing component producers.

Berkshire Hathaway stock is thus part of the Daily Business News manufactured housing (MH) connected market report – a recent MH market recap, is linked here.

MHProNews editorially was among one of the few in media who saw the potential for a Trump win, and supported his candidacy – which this trade publication took precisely because the president-elect’s policy positions were common sense, and pro-growth.

The Masthead noted pre-and-post election that Buffett said that Berkshire Hathaway would do well under either major party’s candidate’s win.  But Buffett and many of his fellow billionaires had strongly supported the Clinton candidacy.

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Kevin Clayton, l, Warren Buffett, r, inside a Clayton Homes manufactured home display model. photo credit, TodayOnline.

Speaking about Donald J. Trump, Buffett said post-election that the president-elect deserved a chance and everyone’s respect.

Noted economists – and billionaires like Mark Cuban, who incorrectly predicted a 20% drop in the markets if Trump should win – now find their doomsday predictions wrong, and the billionaires are themselves – in some cases – billions richer.

The markets retreated in the closing days of 2016, which no doubt resulted in some give-back. Some market observers believe that the retreat was a mix of year end profit-taking, concerns that lame-duck president Obama’s exiting actions and plans by Democrats could make implementing the Trump economic, regulatory and tax reform agendas more difficult.

MarketWatchRussell2000Nov9-Dec302016-postedDailyBusinessNewsMHProNews-

Not Just Billionaires, Small Business Benefting Too

As the chart above demonstrates, the Russell 2000 has enjoyed a robust bounce post-election, even more than the 3 major U.S. markets.  Surveys of small business and consumer confidence have surged since November 9th.

MHProNews will continue to monitor the economic impact of the election results. ##

(Image credits are as shown above.)

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Soheyla Kovach.

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

Clinton Clinches, Sanders Perseveres, Trump Polishes

June 9th, 2016 Comments off

white_house__dc_dot_about_creditHillary Clinton, her win in the California primary officially making her the presumptive Democratic presidential contender learned from her mistakes in the 2008 election when Barack Obama’s team outmaneuvered her. This year her campaign manager, Robby Mook, and Marlon Marshall, director of state campaigns and political engagement, realized the strength of Bernie Sanders’ draw when he raised $25 million last Sept., just $3 million less than Clinton, reports The Washington Post to MHProNews.

They immediately went to work on mapping out a strategy aimed at shoring up the delegate count, realizing that even with the votes likely, the enthusiasm and money flowing into Sanders’ coffers meant he would likely be around for a while—and they were right, perhaps not realizing he would carry his delegates all the way to the convention floor next month, trying to get super delegates to vote for him.

According to newsmax, his staff has been cut in half since Clinton clinched the delegate count, letting go the logistics and field staff members although one current campaign official said some may work in his Senate office, others may return to work at the convention in Philadelphia.

Sanders’ appeal to the young voter, fired up about ending politics as usual, and may not have voted recently, is mirrored in Donald Trump’s appeal to a similar constituency who were also tired of politics-as-usual, felt they had been ignored and may not have voted recently either.

When Cruz dropped out in May, Clinton began operating two campaigns—one for the primary, the other the general election, but Sanders proved difficult, as he came close to winning in the Iowa primary despite arriving late, and he surprised her in Michigan March 8, winning by one-and-a-half points.

At the beginning of May when Trump clinched the delegate count in Indiana for the Republican nomination, Clinton did not want to be dismissive of Sanders, but needed to begin her politics-as-usual campaign against the unconventional style of Trump.

One staff concern was that Trump, having clinched the needed delegates, would become more presidential and change his style, as his chief strategist, Paul Manafort had assured members of the Republican National Committee.

But those fears were allayed when Trump, the night his delegate count hit the magic number, said, “Frankly, if Hillary Clinton were a man, I don’t think she’d get five percent of the vote. The only thing she’s got going is the woman’s card. And the beautiful thing is, women don’t like her. Look how well I did with women tonight.”

Clinton shot back with her often-used line: “If fighting for women’s health care and paid family leave and equal pay is playing the woman card, then deal me in.”

But Clinton cannot count on Trump continuing to stub his toe. He is very tough, and her campaign has to assure that Trump will not take votes away from her.

As Karen Tumulty tells MHProNews, “Clinton has already made history by locking up the nomination. And she has shown that she can learn from her own mistakes. Now comes the biggest chance of all, and this time, there will be no margin for error.”

Meanwhile, CNN news anchor Jake Tapper led a panel discussion Tuesday, June 7 in which he alleges reporters are treating Clinton with kid gloves on the eve of her capturing the Democratic nomination, while Donald Trump gets the tougher questions. Trump supporter Kayleigh McEnany said reporters were throwing softballs at Clinton. The Washington Free Beacon reports one third of reporters’ question dealt with her making history, and one even said, “People just come up to you and they get tears in their eyes. Do you feel the weight of what this means for people.” Boo-Hoo.

Tapper, noting the media claims that they are fair, says, Would the argument of reporters not be stronger if these ridiculously sycophantic questions that were asked of Hillary Clinton yesterday …would not that argument be stronger?” Tapper asked.

Newt Gingrich says Trump can beat Clinton if he remains focused and disciplined, “He’s going to be very formidable, and he’s going to beat Hillary very badly this fall.” Appearing on Fox News Channel’s Hannity, Gingrich said his speech Tuesday night was very presidential. “It was thoughtful. It’s what people want from a president,” and it is “a very big step in the right direction.”

Gingrich has been named as a possible running mate for Trump, although he has criticized him in the past, including his calling the judge in the Trump University case unfair.

She will not recover if she’s caught up in a big-issue election with a disciplined Donald Trump. They won’t be in the same league,” says Gingrich.

MHProNews notes that Trump promises to end Dodd-Frank, which gave birth to the CFPB and its choke-hold on free speech (the so-called MLO rule). CFPB regulations has driven out lending on the least expensive manufactured housing.  Clinton promises to keep Dodd-Frank, and will resist changes such as HR 650/S 682.  For a related report on Richard Cordray and pending industry legislative efforts, click here. Both candidates are promising major speeches and policy positions in the days ahead. ##

(Photo credit: dc.about-the White House, Washington, D. C.)

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

 

 

Dodd-Frank Act is Harming the Economy, says Donald Trump

May 18th, 2016 Comments off

Donald_trump__newsmax_mediaIn an interview with Reuters, presidential candidate Donald Trump stated financial reforms implemented under President Obama, specifically the Dodd-Frank Act, and the ensuing Consumer Financial Protection Bureau (CFPB), are stifling the economy and he would ditch most all of their provisions.

Dodd-Frank has made it impossible for bankers to function,” he said. “It makes it very hard for bankers to loan money for people to create jobs, for people with businesses to create jobs. And that has to stop.”

In about two weeks he will release a plan for overhauling Dodd-Frank, which would be tantamount to dismantling of the legislation, prompting Democratic frontrunner Hillary Clinton to say that is a “reckless idea” which would “leave middle-class families out to dry.”

Dodd-Frank was passed in the aftermath of the Great Recession to make banks less vulnerable in times of crisis, but it also had the unintended consequence of making it more difficult for consumers to purchase manufactured homes, something the CFPB’s Director Richard Cordray could change with the stroke of a pen, as MHProNews understands.

Congressional Republicans have tried to ease the burden of the new regulations on small and medium-sized banks, and have called for the replacement of the sole CFPB director with a commission, as well as bringing the agency under Congressional oversight. Some have said the CFPB needs to be shelved altogether.

Banks and other lenders have spent six years and millions of dollars in attempting to comply with the law, according to newsmax.

John Hall, of the American Bankers Association (ABA), said, “Every law can be improved, and Dodd-Frank is no exception. Sometimes there are drafting errors. Sometimes a good idea in theory turns out to be unworkable after a closer look in the light of day.”

Representative Jeb Hensarling (R-TX), the chairman of the House Financial Services Committee, who has endorsed Mr. Trump, intends to release his own financial reform package in several weeks.

However, Dennis Kelleher of Better Markets said Trump’s plan would be “a slap in the face to the American people who have suffered so much from the 2008 crash.”

While Trump has not discussed specifics of his plan, he suggested that financial institutions should separate commercial banking activities from investment banking.

He did praise Fed Chair Janet Yellen for keeping interest rates low, but when her term expires he would replace her with a Republican.

For more information on an MH related topic, click here. ##

(Photo credit: newsmax–presidential candidate Donald Trump)

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