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Posts Tagged ‘Renters Nation’

Sunday Morning Weekly Recap Manufactured Housing Industry News August 6th to August 13th, 2017

August 13th, 2017 Comments off
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A look at the new MHProNews.com home page.

Our new August issue will go live tonight, Aug 6th.   Our featured articles will be available on the MHProNews.com home page. Our August theme will be available mid-week this week.

 To see the line-up of over 2-dozen featured articles for this month, along with the headline commentary, please click the link above.

Manufactured, modular and prefabricated home professionals know that how a home got to its location should not define a person or their dwelling.

What the Daily Business News spotlights day-by-day are the tragedies, triumphs and struggles for acceptance of the obvious solution for millions for the growing affordable housing crisis in the U.S. and beyond.

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When you read the lineup for the month found on the home page, you can reflect on another motto as you chart your own professional path ahead: “We Provide, You Decide.”  ©

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What’s New On MHLivingNews

Billionaire$ and Millionaire$ Proudly Hang Out in New York Manufactured Homes, Condo Resort

“Po-Dunk” Performer Kid Rock, Eyes Senate Run, Makes Manufactured Home Living 

Rising Renters Nation, Pew Research, Overlooked Affordable Home Ownership 

What’s New On MHProNews

August 12th, 2017

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August 11th, 2017

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August 10th, 2017

 

August 9th, 2017

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August 8th, 2017

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August 7th, 2017

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Kid Rock for Senate website = credit.

 

August 6th, 2017

 

NAHB Home Builder Confidence Report Released

February 18th, 2017 Comments off
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Credit: MarketWatch, Getty Images.

In the latest report from the National Association of Home Builders (NAHB), homebuilder confidence was down in February, after the November elections boosted the index to an 11-year high.

According to MarketWatch, the index fell 2 points to 65 in February, which puts it “solidly above” the 2016 average of 61 and in what the NAHB calls a “more normal range.

 

Overall, economists had forecast an uptick to 68 in February. Readings over 50 signal improving conditions.

The three sub-components of the index were down in February, with the current sales condition gauge falling one point to 71, while the measure of sales expectations over the next six months slid 3 points to 73.

The component that gauges buyer traffic fell five points to 46, putting it back below the neutral line.

In the near term, we expect a slight moderation in housing activity owing to higher mortgage rates, but the picture for 2017-18 remains one of modest trend improvement,” said Michael Gapen, an economist at Barclays.

Overall, the forward-looking indicators – a good predictor of housing starts activity six months ahead – remain on a strong footing, and we continue to expect a steady, albeit modest recovery in the housing sector this year.

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Credit: NAHB, Times-Standard.

The NAHB index does not sync perfectly with the pace of construction activity, but if builders have more favorable assessments of business conditions, it usually indicates a stronger pace of construction.

Recently, builders have been breaking ground on only about two-thirds of the number of homes as their long-term average even as housing shortages are driving up costs for renting and buying. The NAHB cites more expensive and scarcer lots and labor, as well as increased regulation, for the slower pace of construction.

As the Daily Business News covered recently, the NAHB has been supportive of the moves from the Trump administration, including the proposed rollbacks of Dodd-Frank.

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Granger MacDonald. Credit: Builder Magazine.

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.

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 NewsMHProNews 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”. ##

(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.

NYT – Rent to Own Houses Blur Lines, can harm Tenants Seeking Ownership

August 24th, 2016 Comments off

OwnerRenter-creditRealEstateSyracuse-postedDailyBusinessNews-MHProNews-The purported road-to-home ownership cloaked as “Rent to Own” is often found to be harmful and misleading, reports The New York Times.

Although housing prices have recovered from the financial collapse of 2008, borrowers with less than stellar credit reports and those seeking to finance lower priced properties are left to their own measures, the NYTimes says in a recent article.

Unfortunately numbers of tenants are falling victim to the blurred lines between home ownership and reworded rental contracts.

Vision Property Management, the Columbia, S.C. company targeted by the NYT investigation is an example, one of many throughout the nation.

By operating within legal loop holes and gray areas of the law, they are able to take advantage of what are described as unsuspecting tenants through their seller financed ‘Rent to Own’ deals.

These cases often end on a bad note, the NYTimes argues.  Families hoping for a chance at ownership may opt to live in non-inspected, ‘as-is’ houses in need of major repairs.

Since homes are eventually required to abide by the building code, the violations become the responsibility of the tenants, who are threatened with eviction notices if they fail to comply.

The NYTimes report stands in stark contrast with the manufactured housing industry’s affordable new home option, which in many markets, offers a viable alternative to the same demographic group that thinks they want rent to own, when in fact what the desire is ownership; their name on a mortgage, title or owning a home that is free and clear of debt.

The reason some non-profit organizations such as CFED initially find a lot of appeal with manufactured housing, is precisely because low-income households are able to obtain good homes at reasonable prices.

While rent-to-own in housing – and lending to lower credit scores – has been made more challenging by the Consumer Financial Protection Bureau’s implementation of the Dodd-Frank Act, one of the unintended consequences is the loss of potentially viable options to many housing seekers who desire ownership, not rent receipts.

Examples of this was reported in depth last year in Renters Nation – The Dark Side of Dodd-Frank and its Impact on Affordable Housing.  ##

(Image Credit: realestate.syracuse)

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Frank Griffin, Daily Business News, MHProNews.

Article submitted by Fank Griffin to Daily Business News – MHProNews.