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Sunday Morning Recap-Manufactured Housing Industry News Jan. 10 -Jan. 17, 2016

January 17th, 2016 Comments off

mhpronews_sunday_morningWhat’s New in public focused Manufactured HomeLivingNews.com

Bad and Good – Two Sides – Manufactured Home Living and News Reporting

What’s New in Manufactured Housing Industry Professional News

Ishbel Dickens refuses debate with Carla Burr over PBS NewsHour report. Part of MHC to close. Jurisdiction ready to impose master meter on MHC. Dems want Justice to Investigate Clayton. Manufactured homes go to pot. MH Reits return over 25 percent. Some protest, some accept modular homes in Dublin, Ireland. New tax law will only minimally contribute to affordable housing. New First Nations modular homes uninhabitable, while Green modular designed to last 300 years. Indiana city relaxes tough stance on MH siting. And much, much more in news and views for you to peruse.

Saturday, Jan. 16, 2016

Carlyle Group is one Resident Away from Updating Coastal MHC in CA

Friday, Jan. 15

Township Set to Impose Master Meter System on Manufactured Home Community

Cost of Extensive Utility Upgrades to MHCs will be Borne by all Ratepayers

Dow Plunges Nearly 400 Points; MHCV Drops Two Percent

New Tax Law will only Increase Affordable Housing Units Tepidly

Skyline Reports Earnings Per Share Increase

Manufactured Home Retailer Allegedly Absconds with Customers’ Funds

Thursday, Jan. 14

Government Sponsored Enterprises Grew Multifamily Loans in 2015

Skyline Gained Sharply, while the Dow reclaimed +227.64 points

Existing Home Sales Fall, perhaps due to New Disclosure Rules

Why did Ishbel Dickens/NMHOA decline a Debate with Carla Burr about PBS NewsHour’s Manufactured Housing Report?

Unique Homes may be Tough to Finance

Wednesday, Jan. 13

Portion of Manufactured Home Community to Close

UMH to Release Financials in March

Nobility Spikes, Patrick Falls, the Dow Plummets again

Manufactured Homes have Gone to Pot

Democratic Lawmakers want DOJ to Investigate Clayton Homes, lenders in wake of Seattle Times/BuzzFeed report

Balbriggan Neighbors Okay with Modulars in Neighborhood

Tuesday, Jan. 12

Aussie 578 Site Manufactured Home Community Iced

Problems with New Modular Homes Wreaking Havoc on First Nations Land

Skyline, Cavco, UFPI Gain in Three Figures; Dow Moves Up

Indiana City Relaxes Restrictions on Replacing Manufactured Homes

NW City Addressing Community Closures Proactively

Monday, Jan. 11

Plans for Modular Home Production did not Materialize

Green Modular Home Designed to last 300 Years

Dow Changes Direction; Several MH-related Stocks Look Up

Protests Mount against Modular Homes for the Homeless in Dublin

Manufactured Housing REITs Return Over 25 Percent

Sunday Morning Recap-Manufactured Housing Industry News Jan. 3 -Jan. 10, 2016 ##

(Photo credit: MHProNews)

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

Why did Ishbel Dickens/NMHOA decline a Debate with Carla Burr about PBS NewsHour’s Manufactured Housing Report?

January 14th, 2016 Comments off

bad_news_good_news__Jan_14_2016Opening with an analysis about the dynamics behind mainstream media coverage, MHLivingNews publisher L. A. ‘Tony’ Kovach used that to focus attention on the recent PBS NewsHour report that featured Carla Burr, titled Bad and Good – Two Sides – Manufactured Home Living and News Reporting.

Kovach reminds us of the rule of thumb in the newsroom: “If it bleeds, it leads!” Bad news travels fast and gets there first, and is often the lead—on TV and other news media. He provides examples of that, before moving onto the thrust of the article, which is the recent PBS NewsHour and Seattle Times/BuzzFeed stories.

Kovach acknowledges that there are rotten apples in every industry, and provides linked examples of how MHProNews and MHLivingNews has drawn attention to apparent bad actors from MH in the news. Thankfully, there are not many examples of criminal behavior in MH today. But when other media misrepresents or unjustly slants the news, Kovach makes it clear that we have and will spotlight errors and correct the record.

Carla Burr/Ishbel Dickens and NMHOA invited to debate PBS NewsHour topics, they decline

However, Kovach says it’s not just that the reporting was slanted on the PBS video and on the seattletimes/buzzfeed  “stories,” but there is a hidden agenda: interviewee Carla Burr is not a typical resident of a manufactured home community that the PBS happened upon. Burr is the vice president of the National Manufactured Home Owners Association (NMHOA) and a known activist on MH finance and community issues.

Burr’s role in the activist group was not mentioned in the PBS broadcast. Moreover, a close look at the PBS report reveals she does not fit the profile PBS painted of MHC residents in general.

Kovach has since offered to debate Burr or Ishbel Dickens, the executive director of NMHOA on the PBS NewsHour video in Washington, D. C. in early February. Dickens formally declined. For the correspondence, click here.

Additionally, some of Dick Ernst’s key comments were edited from the script. Based upon Dicken’s emailed message noted above and other factors, Kovach suggests that special interests working against MHI supported legislation aimed at stopping the common-sense reforms in Preserving Access to Manufactured Housing Act reform of Dodd-Frank that would benefit millions of MH home owners and businesses was the aim behind both stories.

Just as bad news travels faster, one may not hear from media reports about the millions who live in manufactured homes who love their lifestyle and affordability. According to the Government Accounting Office (GAO), manufactured homes have lower payments and lower cost than conventional housing or most rentals.

For the full story with related videos and downloads, click on – Bad and Good – Two Sides – Manufactured Home Living and News Reporting##

(Image credit Deer Valley Homebuilders and MHLivingNews)

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

Sunday Morning Recap-Manufactured Housing Industry News Jan. 3 -Jan. 10, 2016

January 10th, 2016 Comments off

mhpronews_sunday_morningWhat’s New in public focused Manufactured HomeLivingNews.com

What PBS NewsHour Missed About Manufactured Home Living

Nicole Barker compares her Modular Home with conventional construction

What’s New in Manufactured Housing Industry Professional News

FHFA may securitize chattel loans. PBS NewsHOur critical of MH industry, as HUD Code production gains sharply in Nov. RV/MH Hall announces inductees. CFPB seeks feedback on mortgage disclosure act. Start of year worst ever for Dow Jones. Modular homes for homeless in Ireland dealt another setback. FEMA manufactured homes readied in Calif wildfire region. Marcus & Millichap arrange two MHC sales. GAO evaluates Dodd-Frank. Domestic modular home industry may lose to imports, as modular development is approved in NC. And much, much more in MH industry news and views for you to pursue.

Saturday, Jan. 9, 2016

FHFA “May” Open the GSE Door to Purchase MH Chattel Loans

Friday, Jan. 8

RV/MH 2016 Hall of Fame Inductees Announced

Dow Continues its Fall; Most MH-related Stocks Follow Suit

Marcus & Millichap Arrange sale of Fla. Manufactured Home Community

Controversy Escalates over Modular Homes in Cape Coral

CFPB Seeks Feedback on the Home Mortgage Disclosure Act

Former MHC Titan’s Tony Condo Yields $4.25M

Thursday, Jan. 7

Marcus& Millichap Notches another MHC Sale

Dow Starts the New Year down 900 points; Most MH-related Stocks Fall, Two Rise

Clayton Teams with Electrolux

21 FEMA MH Near Ready for Occupants in N. Calif.

Foreclosures Waning Steadily in Colorado and Ohio

Wednesday, Jan. 6

Completion of Modular Homes in Ballymun Set for mid-January

Dow Stumbles, Skyline Flies High, AMG Drops

Capital One Provides Loan for Purchase of Calif. Manufactured Home Community

Subdivision Approved for Modular Development in North Carolina

New Home Sales Rise Sharply from Last Year

Tuesday, Jan. 5

Modular Home Development has Begun in the UK

Real Estate Losses in Western North Dakota Start to Mount

Skyline, Sun, UMH all Rise; Patrick Falls

Government Accountability Office Evaluates Dodd-Frank Act Effects

Loan Application Defect Index Falling

In Depth Overview of HUD Code Production for November

Monday, Jan. 4

Mortgage Application Approvals and Home Values Rise

No Covered MH-related Stock Gains as the Dow Hits the Skids

U. S. Modular Home Builders need to Sharpen their Saws

HUD Code Production Spikes in November

More Patrick Stock Sold by Gendell

Really? “Bad bargain? Manufactured homeowners feel the financial strain, PBS NewsHour” MHProNews Flash Report and Analysis

Sunday Morning Recap-Manufactured Housing Industry News Dec. 27, 2015-Jan. 3, 2016 ##

(Photo credit: MHProNews)

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

Really? “Bad bargain? Manufactured homeowners feel the financial strain, PBS NewsHour” MHProNews Flash Report and Analysis

January 3rd, 2016 Comments off

PBSNewshourBadBargainManufacturedHomeOwnersFeelFinancialStrain-imagecredits-NYTimes=PBSNewshour-postedwithtags-MHProNews-400x224PBS NewsHours website has a paragraph below their video report aired on January 2, 2016 that reads as follows:

Twenty million Americans live in mobile, or manufactured, homes that offer affordable housing, particularly in rural parts of the country. Typically older and poorer than traditional homeowners, manufactured homeowners often face serious, unique financial difficulties that make it a bad bargain for some low-income Americans. NewsHour’s Stephen Fee reports.

The Manufactured Housing Institute (MHI) President, Richard “Dick” Jennison said in a pre-broadcast memorandum to association members that:

We have fully cooperated with the reporter and have tried to do our best to educate him on the dynamics of the manufactured housing industry, including challenges regarding legislation and regulations that are harming manufactured homeowners and our industry.  It is possible – even likely – that, for the sake of balance, the reporter has interviewed activists and others who do not share our views on the benefits of manufactured housing and the importance of legislative/regulatory reform of manufactured housing lending.”

The last part of this assertion proved accurate, as Carla Burr, an activist associated with Ishbel Dickens – who has publicly called businesses “the enemy” – was featured as a home owner in the PBS video.

The Daily Business News has Burr’s Congressional testimony from 2011, as a download on the article, linked here.

Jennison’s memo also stated that: “Dick Ernst, Chairman of MHI’s Financial Services Division, served as our spokesperson and was interviewed on camera at PBS’ Washington, DC-area studio for the segment.  Lesli Gooch and our PR consultant were onsite for the taping and felt that Dick did an excellent job representing the industry and our members.”

The subject of depreciation was one of the touch-points in the PBS report. Stephen Fee and what was aired failed to point out the obvious, namely, that conventional housing can appreciate or depreciate, as was dramatically evidenced from the mortgage crisis/housing crash of 2008 that lead to the so-called Great Recession. The same factors that cause appreciation and depreciation in the conventional housing world can cause appreciation or depreciation in a manufactured home.

The Inside MH video interview with Kim Capen, first published on MHLivingNews.com at the report linked here, demonstrates that the PBS report was flawed on this point, among others. Capen clearly is not the stereotype portrayed by the report, which quoted Julia Gordon, of the National Community Stabilization Trust, saying: What concerns me is that people who buy manufactured homes often are lower income, perhaps less financially sophisticated, maybe have fewer options available to them. These are the very vulnerable consumers who need those protections the most.”

In this video interview, Capen clearly debunks the myth of depreciation being a given in manufactured homes. HUD Secretary Julian Castro praised manufactured housing, in a recent video, linked here.

Gordon was correct in saying earlier in the PBS’ news piece that Manufactured homes are not trailers — they’re actually meant to stay in one place.”

Another topic raised in the PBS NewsHour piece was financing. MHProNews advised Stephen Fee months ago about facts on manufactured home lending – including the often misunderstood issue of personal property, ‘chattel” or home only lending, contained in the in-depth report, linked here. That report also interviewed Dick Ernst, as well as CFED’s point person on manufactured home lending issues, Doug Ryan, and came to very different findings and conclusion than PBS’ story did. Fee’s PBS segment aired none of those facts presented.  Why not?

Which leads to the question: was the PBS NewsHour story another thinly veiled advocacy journalism piece, attacking manufactured home lending? See the recent debunking of the Seattle Times/BuzzFeed takedown piece, linked here.

Did no one at PBS do the Math?

Did Stephen Fee ask Burr to do the math on the increase in her land lease community’s site fees? Might that same level of increase – or more – have taken place in a rental property? Does dividing 30% by a decade yield a more modest sounding average of 3% a year?

And why didn’t Stephen Fee inquire of Burr how much the association fees were at the condo she previously lived at, or how much those fees went up in that same decade? How much were the real estate taxes on her condo?  How much did that change in that same decade?  These are all factors and issues that once understood, routinely favor manufactured housing.

Again, the same factors that cause appreciation or depreciation in conventional housing – demand, financing and market/economic conditions – are what cause appreciation or depreciation in manufactured homes. That is an issue that industry association’s should join MHLivingNews and MHProNews in educating their members in how to respond to, and should educate the general public on, so that more will properly understand and invest in manufactured housing.

Ironically and sadly, actions by Dicken’s, Burr and others who spew negative and inaccurate perspectives on manufactured housing and MH lending are actually undermining the value of their homes in the process, because they promote their false impressions in much of the general public’s mind. 

MHLivingNews will plan a more in depth review of this PBS NewsHour story in the days ahead. UPDATE.  MHLivingNews report, linked here. ##

The published transcript for the PBS NewsHour piece is linked here.

A contrasting view on the same issues is found at: Renter’s Nation – The Dark Side of Dodd-Frank and Its Impact on Affordable Housing

(Image credits – New York Times, PBS NewsHour and MHProNews added the graphics.)

LATonyKovach-Louisville-2015-mhpronews-com-275x156

L. A. ‘Tony’ Kovach is one of the most widely recognized experts on manufacturd housing today.

 

Report by L. A. ‘Tony’ Kovach.

Manufactured Housing to be Featured on PBS

December 30th, 2015 Comments off

mhi_logoA memorandum from Dick Jennison, Manufactured Housing Institute President and CEO, informs MHProNews that PBS NewsHour has set Sat., Jan. 2 to air its story on the manufactured housing industry. The story has already been delayed, and it may be delayed again depending upon news priorities.

MHI expects the segment will be 8-10 minutes long, and likely will include social activists and perhaps others who are not so keen on manufactured housing, or do not share the importance of pending legislation that can reform MH lending.

Although Jennison says a balanced report is anticipated, he adds, “We know that the reporter has interviewed and will likely feature individuals and families who are living in manufactured housing and are struggling financially or otherwise. We believe the reporter visited communities in Northern Virginia and West Virginia, but we have no way of knowing whether residents from those states or others will be included in the final report.

Chairman of MHI’s Financial Services Division, Dick Ernst was the industry’s spokesperson interviewed on camera at the Washington, D. C. PBS studio. He was asked primarily about MH financing and legislation, although the reporter later followed up with questions abut manufactured home communities.

If the air time changes MHI assured us they will send word. ##

(Image credit: Manufactured Housing Institute)

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