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Warning – Number 1 Manufactured Housing State, Texas – Reports Month Over Month Rise, Year over Year Shipment Decline Continues

May 2nd, 2019 Comments off

 

WarningNumber1ManufacturedHousingStateTexasReportsMonthOverMonthRiseYearOverYearShipmentDeclineContinuesMHProNews

Last night, the Daily Business News on MHProNews looked at regional data that revealed 3 states with increases, but 3 others with significant declines in new manufactured homes shipped.

 

 

Now, in our pre-dawn report, multiple tips from members of the Texas Manufactured Housing Association (TMHA) provided their state’s latest – sobering – shipment data.

Quoting the TMHA, following the graphic below.

 

AnnualShipmentTotalsTXMHAManufacturedHousingShipmentsFebMarch2019vs2018MHProNews

 

MARCH

Manufactured home shipments for March moved up 4.9% over February. The month-over-month growth was aided by an additional work day and stemmed from a 10.5% increase in multi-section shipments which once again beat single-section shipments for the fourth month in a row. Single-section shipments slipped -0.7% from February.

We’re now past the point where the year-over-year comparisons for a single month should be substantially impacted by FEMA units and March saw a marked -26.8% slowdown in comparison to March of 2018, which was last year’s peak month.

Multi-sections shipments were down -9.8% and single-sections were down -39.5%.

While shipments were soft this month, the early data indicates that retailer sales expanded in February and titles issued thus far for March sales also indicate strong year-over-year growth for that month. We’ll be watching the titling data as it comes in, but It appears likely that last year’s backlog constraints led retailers to over order and build up a stock of homes in inventory that they are now selling from. If the year-over-year elevated sales continue, then shipments should pick up later in the year as those inventories decline.”

 

March2019ShipmentTotalsTXMHAManufacturedHousingShipmentsFebMarch2019vs2018MHProNews

 

Certainly, TMHA has significant influence from Clayton Homes, Berkshire Hathaway brand lenders, and the Manufactured Housing Institute (MHI). Their staff arguably has the same “How Gold Rules” pressures that other state association executives have previously reported, see that, in the report linked from the text-image box that follows.

 

 

But the independent minded thinkers in MHVille need look no further than what MHI member companies that are publicly traded have said in their investor packets.

 

ManufacturedHousingIndustryShipmentsFEMAManufacturedHomesNotMobileHomesTrailersIndustryResearchReportsDataMHProNews

Credits, MHI, Cavco.

 

Skyline Champion (SKY) have said similarly.

 

3ErasMobileHomesManufacturedHomesManufacturedHousingImprovementActEraSkylineChampionShipmentProductionGraphicMHProNews

In 1998, manufactured homes (MH) outsold RVs by some 3 to 2. In 2017, RVs outsold MHs by some 5 to 1. RVs recovered far more quickly from 2008. The facts raise questions. One, is the effectiveness of MHI as the post-production or ‘umbrella’ association in the country. The other question is more sobering. Has Buffett-Berkshire “Moat” strategies kept manufactured home production at historically low levels to allow a few big boy brands to consolidate others at a discounted ‘value’ by MHI insiders?

 

There are clearly investor concerns at play, because both Skyline and Cavco are trading below where they were about 6 months ago. See those related reports, below.

Facts matter.  During an affordable housing crisis, there certainly could be some variation, but the rise in shipments could be much stronger than it has been.  See the related reports to better understand the various forces at play that arguably are artificially limiting manufactured housing – often from within.

 

Multibillion Dollar Opportunities Knock in Solving Affordable Housing Crisis

 

That’s this morning’s pre-dawn episode of “Industry News, Tips, and Views Pros Can Use,” © where “We Provide, You Decide.” © ## (News, analysis, and commentary.)

 

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Related Reports:

You can click on the image/text boxes to learn more about that topic.

“Lead, Follow … Or Get Out of The Way”

MHARR Calls on HUD Secretary to End Discriminatory And Exclusionary Zoning of HUD-Regulated Manufactured Homes

Skyline Champion (SKY) Hedge Fund Dumps Shares, Value Declines

New Investigation, Insider Trades, Hedge Fund Dumps Cavco Industries (CVCO)

Prosperity Now, Nonprofits Sustain John Oliver’s “Mobile Homes” Video in Their Reports

 

 

 

 

 

Ultimate Victory

April 21st, 2019 Comments off

 

UltimateVictoryJesusEasterPXDailyBusinessNewsMHProNews

From what was seemingly the most humiliating defeat in earth’s history, to the most glorious triumph, all in the span of a few days.

 

That’s what a surprising victory looks like.

In the life of Jesus as recorded in the sacred texts, there is an episode that we could all identify with.

Jesus comes to the shore, and with Simon (Peter’s) permission, boards his boat. They push out from shore just a bit, and that wandering Jewish preacher begins to teach to the people listening. When he finished, to thank Simon, Jesus tells him and his crew to go out farther, and lower their fishing nets for a catch, because Simon and his companions were professional fishermen.

Here is how that episode reads in Luke chapter 5, from the English Standard translation from Bible Hub.  When Simon says “Master,” he is speaking to Jesus.

 

4And when he had finished speaking, he said to Simon, “Put out into the deep and let down your nets for a catch.5And Simon answered, “Master, we toiled all night and took nothing! But at your word I will let down the nets.” 6And when they had done this, they enclosed a large number of fish, and their nets were breaking. 7They signaled to their partners in the other boat to come and help them. And they came and filled both the boats, so that they began to sink. 8But when Simon Peter saw it, he fell down at Jesus’ knees, saying, “Depart from me, for I am a sinful man, O Lord.” 9For he and all who were with him were astonished at the catch of fish that they had taken, 10and so also were James and John, sons of Zebedee, who were partners with Simon. And Jesus said to Simon, “Do not be afraid; from now on you will be catching men.”

 

Each of us at some point in almost any career one can imagine is about “catching people,” hopefully in a good sense of the term.

A close look at the evidence reflects that our industry is under assault from outside and in.  America is too. If you look at other nations, they likewise have their own woes.

But for those who believe and act upon that faith, the final victory is assured. That’s what this day called Easter and the recent historic events are all about. The rest are the details that makes every life on earth an adventure to be celebrated.

Some of those who resisted or opposed Jesus of Nazareth, or who followed Jesus in secret, went through that emotional roller coaster of His controversial life, Jesus dying a humiliating death, and then His rising from the dead. Some changed, others did not. That’s free will.

The forces of the Roman empire and the local leaders of that era looked to be all powerful.  But in the final analysis, they were not all controlling in the end, where they? The world order of that era was turned upside down by those events in that obscure outpost of a now long gone empire.

 

We at MHProNews don’t claim to have a script as to how the events in our industry and nation will play out. But we believe in that final victory.

Thus, we move on in faith, day-by-day doing reporting and analyzing what the evidence appears to the truth of a given matter.  We plan our moves, in faith. We may connect the dots of a specific event to the larger puzzling picture of the struggle for freedom our industry’s honest professionals merit.

We believe in our affordable manufactured homes, in free enterprise, and we oppose deceptively rigged systems. We believe in the God-given rights of the people. We believe in money honestly earned.

Yesterday, in the Jacksonville newspaper the linked item below was published. They chose the headline, as editors are permitted to do. But the copy was submitted by me. In 300 words, it flips the script on John Oliver.

 

https://www.jacksonville.com/opinion/20190420/letter-affordable-mobile-homes-are-desperately-needed

 

From our family and team to you and yours, Happy Easter!

With no further adieu, let’s look back at the week that was from 4.14.2019 to 4.21.2019.

 

What’s New on The Masthead

The Two Gardens, America, and Manufactured Housing

 

What’s New on MHLivingNews

Mortgage Prison – What Australian Housing, John Oliver Can Teach Americans – Correcting Corruption, Incompetence with Classy Affordable Manufactured Homes

 

What’s New from Washington, D.C. from MHARR

 

 

 

 

What’s New on the Daily Business News on MHProNews

Saturday 4.20.2019

The Blind Leading vs. Truth Telling, Life of Jesus Video

The Blind Leading vs. Truth Telling, Life of Jesus Video

 

Friday 4.19.2019

Start of Passover for Jews, Good Friday for Christians 2019

Start of Passover for Jews, Good Friday for Christians 2019

 

Thursday 4.18.2019

Early PreFab Leader Sears Sues Eddie Lampert, Treasury Secretary Mnuchin for Alleged Billions of ‘Theft,’ Plus MH Market Updates

Early PreFab Leader Sears Sues Eddie Lampert, Treasury Secretary Mnuchin for Alleged Billions of ‘Theft,’ Plus MH Market Updates

“Warren Buffet’s Exploitative Mobile Home Investment” Kori Hale in Forbes Rips Clayton Homes, Berkshire Hathaway’s Predatory Manufactured Home Practices

“Warren Buffet’s Exploitative Mobile Home Investment” Kori Hale in Forbes Rips Clayton Homes, Berkshire Hathaway’s Predatory Manufactured Home Practices

Government Forces Sale of Manufactured Home Community, Case Ruling, Details

Government Forces Sale of Manufactured Home Community, Case Ruling, Details

Insider Tip – “Selling Access” to HUD Secretary Ben Carson, Manufactured Housing Institute’s Latest Razzle Dazzle

Insider Tip – “Selling Access” to HUD Secretary Ben Carson, Manufactured Housing Institute’s Latest Razzle Dazzle

 

Wednesday 4.17.2019

Got a Fair Housing Complaint? HUD Awards Millions More in Anti-Discrimination Efforts

Got a Fair Housing Complaint? HUD Awards Millions More in Anti-Discrimination Efforts

‘Revitalization doesn’t have a color or party, it starts in the heart’ Scott Turner, Opportunity Zones Conference, Plus MH Market Updates

‘Revitalization doesn’t have a color or party, it starts in the heart’ Scott Turner, Opportunity Zones Conference, Plus MH Market Updates

Foundation for Action as Fannie Mae CEO Put on Notice for Robust Personal Property Manufactured Home Lending

Foundation for Action as Fannie Mae CEO Put on Notice for Robust Personal Property Manufactured Home Lending

The God Who Sees, Kathie Lee Gifford & Nicole C. Mullen Inspirational Music Video

The God Who Sees, Kathie Lee Gifford & Nicole C. Mullen Inspirational Music Video

 

Tuesday 4.16.2019 

Wells, Chase, Citi Mortgage Lending Plunges, Plus Manufactured Home Stock Updates

Wells, Chase, Citi Mortgage Lending Plunges, Plus Manufactured Home Stock Updates

Ross Kinzler Confirms Allegations, MHEC Peer Claims “Association Malpractice;” Member Backstab, MHI Failure Concerns

Ross Kinzler Confirms Allegations, MHEC Peer Claims “Association Malpractice;” Member Backstab, MHI Failure Concerns

Monopolization of America Video, Your Customers, Manufactured Housing, Berkshire News Tip, and You

Monopolization of America Video, Your Customers, Manufactured Housing, Berkshire News Tip, and You

 

Monday 4.15.2019 

Tax Day Infographic, Fascinating Facts At A Glance

Tax Day Infographic, Fascinating Facts At A Glance

What Tiger Woods, Nike Can Teach Manufactured Housing Leaders, Plus MH Market Updates

What Tiger Woods, Nike Can Teach Manufactured Housing Leaders, Plus MH Market Updates

Done! AG Bag$ Manufactured Modular Home Retailer

Done! AG Bag$ Manufactured Modular Home Retailer

Peer Alleges State Execs Crossed Line, “Kissing Ass” Clayton Homes, Manufactured Housing Institute, Back-Stabbed MHI Member Reacts

Peer Alleges State Execs Crossed Line, “Kissing Ass” Clayton Homes, Manufactured Housing Institute, Back-Stabbed MHI Member Reacts

 

Sunday 4.14.2019 

Jujitsu – Last Week Tonight John Oliver “Mobile Homes” Video Fact-Check Revelations

Jujitsu – Last Week Tonight John Oliver “Mobile Homes” Video Fact-Check Revelations

 

 

Why do you look for the living among the dead? 
He is not here, but has risen
.” – Luke 24:5

Once more, with thanksgiving, happy Easter.

We Provide, You Decide.” © ## (News, commentary, analysis.)

(See Related Reports, further below. Text/image boxes often are hot-linked to other reports that can be access by clicking on them. Third-party images and content are provided under fair use guidelines.)

LATonyKovachQuoteManufacturedHousingIndustryWontReachPotentialAddresscoreIssuesArtificallyholdingitback466By L.A. “Tony” Kovach – for MHProNews.com.

Tony is the multiple award-winning managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

Office 863-213-4090 |Connect on LinkedIn:
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Related References:

The text/image boxes below are linked to other reports, which an be accessed by clicking on them.

HBO’s John Oliver on Last Week Tonight Mobile Homes Video, Manufactured Home Communities Fact Check

Why is Seattle Dying? Affordable Housing, Misplaced Compassion, and Manufactured Homes

Debunking the Trailer Trash Stigma for Affordable, Modern Manufactured Housing for Residents, Home Shoppers

Celebrities, Millionaires, Billionaires and Their Appealing Manufactured Homes

Bridging Gap$, Affordable Housing Solution Yields Higher Pay, More Wealth, But Corrupt, Rigged Billionaire’s Moat is Barrier

 

 

 

 

 

MarketWatch Reports on Manufactured Housing, 2018-2019

April 12th, 2019 Comments off

 

MarketWatchLogoReportsManufacturedHousing2018-2019-DailyBusinessNewsMHProNews600

It’s Flashback Friday. Reviewing two reports by MarketWatch are timely, and ought to make followers of the popular personal finance guru Dave Ramsey, or HBO’s Last Week Tonight with John Oliver sit up and think again.

 

These are equally timely because of the arguably injustice that is taking place in Bryan, TX of cities and towns across the country, where manufactured homes are increasingly being zoned out. The vote in Bryan is subject to a special petition that, if those petitions are certified as accurate, could void Tuesday’s council vote, so this ought to be a timely topic for our industry’s professionals.

Especially independents, and those who are keen on industry growth should sit up and take notice. Because as the latest Masthead reminds readers, for want of a nail, the war was lost.

 

 

For Want of a Nail – Manufactured Housing

 

 

Teeing Up the MarketWatch Reports 2018-2019

To set the table, these articles are provided under fair use guidelines. These are not a fact checks per se, but we will clarify the terminology with some graphics and illustrations between them, while providing commentary and analysis.

Let’s note that the featured photo below from the first MarketWatch report included at least one home that wasn’t a manufactured home. It is a mobile home, as the windows on that unit are a dead giveaway for a feature that is forbidden by the federally preemptive HUD Code for manufactured homes.

It is worth mentioning that what some MarketWatch staffer selected for use to illustrate was hardly the best photo to use showcase the appeal of modern manufactured homes. Those are either older manufactured homes, and/or mobile homes.

The Daily Business News on MHProNews will then note that anecdotally that mobile homes can and have appreciated too. The factors for appreciation are roughly the same for conventional housing as for mobile homes or manufactured housing. For example,

  • availability of financing is a key factor,
  • as too are location,
  • condition,
  • area market conditions,
  • along with other aspects of the laws of supply and demand.

With that brief introduction and noting that MHProNews is not editing either report for typos, facts, undisclosed conflicts of interest, or terminology errors, let the reader dive into MarketWatch’s two timely flashback articles on the wisdom of manufactured homes, and appreciation.  Here’s the link to the first article.

 

MobileHomeValuesMightRiseAsFastRegularHomesWhyThatMattersMarketWatchDailyBusinessNewsMHproNews

Recent data challenges the idea that manufactured housing isn’t a strong investment

Many have long held the assumption that mobile homes don’t increase in value — or, at the very least, they rise in value at a much slower rate than traditional homes.

But recent data suggests the opposite is true — and that could have major implications in the push for increased affordable housing nationwide.

A new report from the Urban Institute, a Washington, D.C.–based think tank, examined data released in August by the Federal Housing Finance Agency. The home price index for manufactured homes (also known as mobile homes) featured an average annual growth rate of 3.4%, versus 3.8% for traditional, site-built homes.

In recent years, home prices have actually risen at a faster clip for manufactured, or mobile, homes than they have for traditional properties.

But that trend is not always easy to see, because manufactured housing is more popular in parts of the country where the overall recovery from the housing crisis has been less robust. For instance, California represents nearly 18% of the nation’s overall housing market, but it comprises just 4% of the manufactured housing market based on the number of units shipped.

Because manufactured homes generally aren’t highly concentrated in housing markets that have notably recovered from the crisis, it creates the impression that these homes’ values don’t appreciate at the same rate as traditional homes. In reality, this is more a reflection of where the homes are located than the types of homes.

Comparatively, Alabama, Florida, Louisiana, North Carolina and Texas represent 41% of the manufactured-housing market, but have experienced price appreciation below the national level.

The report only looked at mobile homes that were financed with loans guaranteed by Fannie Mae and Freddie Mac. However, most homeowners who finance the purchase of a manufactured home don’t get a traditional mortgage because they only own the structure and not the land beneath it.

Instead, they typically get a chattel loan — a personal loan that is more similar to an auto loan than it is a mortgage. Chattel loans are more expensive than mortgages and typically come with higher interest rates.

It is not clear whether the report’s findings apply to homes purchased with chattel loans as well. Nevertheless, it’s a strong indication that mobile homes may be a worthwhile investment. “Although there are limits to what the data can tell us, the index suggests a need to reevaluate the presumption that manufactured homes do not appreciate at the same rate as site-built homes,” the Urban Institute researchers wrote.

There are many downsides to manufactured homes. If a mobile-home owner doesn’t own the land they will obviously have to rent it — and those costs can rise over time. What’s more, these homes aren’t actually mobile in most cases, despite the common moniker. As a result, if land rents get too expensive or if the land’s owner decides to sell, homeowners might be forced to move and sell their home, regardless of what price they can get for their home.

The homes also are more prone to damage in natural disasters like hurricanes and tornadoes. Because many owners buy their mobile homes in cash, insurers often only offer “actual cash value” coverage for the properties rather than covering the replacement value. This lowers the amount the insurer pays out, which left many people in Florida facing serious losses after Hurricane Irma tore through the state last year and destroyed or damaged many manufactured homes.

##

TrailerHouseMobileHomeManufacturedHomeFactoryBuiltHousingEvolution101MHProNews-MHLivingNews

You must meet people where they are. Terminology must be taught and caught. Make a habit of using the correct terminology. 

CompareMobileHomeTrailersPastManufacturedHomesSaferMoreDurableQuoteScholasticaGayCororationPhotoSmallPercentageDamagedDuringHUrricanesMHProNews

For MarketWatch to note that mobile or manufactured homes were damaged, without noting that so were conventional housing units, is an oversight. The above clarifies that miss.

As a brief added commentary to both MarketWatch articles, are the terminology illustrations, plus other quotes and factoids provided above and below by MHProNews. The terminology is not interchangeable. 

 

TerminologyMattersBecausetheTerminologyDescribestheConstructionStandardsHomeBuiltToSteveDukeLMHAaMHLivingNewsMHProNewsBiggerPocketsSunshineHomesRedBayAL

The terminology matters because
the terminology determines the
construction standards a home was
built to,” Steve Duke, LMHA.

 The link to the next report from MarketWatch is here.

3OutsideTheboxAtlernativeForHomeBuyersinToughHousingMarketDailyBusinessNewsMHProNews

As the housing crunch continues, would-be buyers may want to consider these unorthodox options

Here’s a bold forecast for the housing market in 2019: conditions will continue to be strained as affordable inventory gets snatched up quickly, leaving the least desirable and most pricey properties to stagnate.

Given how steep the housing shortfall has been for so many years – Freddie Mac economists estimated we’re nearly 5 million units short – that’s kind of a no-brainer. The bigger question is what we do about it.

In the spirit of “new year, new approach,” MarketWatch has collected several suggested solutions to the housing crunch. These are unconventional ideas, but ones that industry participants have been exploring for years. They may provide fodder for house hunters willing to think outside the box – especially if the idea of another wasted Sunday afternoon of open houses doesn’t appeal.

 

Factory-built homes

Jenny Cochrane and her husband had spent years taking care of her mother, who was struggling with breast cancer and who owned a manufactured home in Yulee, Florida.

The couple ran into some financial trouble in the downturn – “the economy went splat and so did we,” Cochrane said in an interview. But she still had enough saved in her 401(k) to consider buying a traditional house. Eventually, though, the couple decided to assume her mother’s mortgage and take over her house, mostly because they liked the space that the much-cheaper factory-built home afforded them.

ManufacturedHomeMarketWatchLogoJennyCocchranCarringtonMOrtgageCustomerFlorida

“It’s a double-wide manufactured home on a solid foundation, it’s not going anywhere,” Cochrane said. The couple rode out the last hurricane with barely a scratch to show for it. They have a front porch, back porch, 3 bedrooms, and laundry room on about an acre of land.

Manufactured homes are 35-47% cheaper than traditional “site-built” properties, according to an analysis from the Urban Institute. Factory-built homes accounted for 16-25% of all new single-family houses between 1977 and 1995, but just 10% in 2017, even as the quality of construction has become much better over the past few years, the Urban researchers noted.

Restrictive zoning is partially to blame for the low take-up of manufactured homes. About one-third of them are currently in single-purpose communities, and municipalities often ban the development of such areas.

But a more significant challenge is that lenders have often struggled to make mortgages on manufactured homes. That’s in part because it can be challenging to find comparable properties against which to appraise them, and in part because most owners don’t own the land on which the houses sit. (Another wrinkle, as the Urban Institute notes, is that most mortgages for manufactured homes tend to be much smaller, and small-dollar loans are always less desirable for lenders, who have fixed overhead costs.)

Freddie Mac, the giant government-sponsored enterprise that buys mortgages from banks and other lenders, has introduced a new program to allow conventional-style financing for factory-built homes, in part by allowing appraisers to use site-built properties as comparables. But Freddie’s financing, and that offered by many lenders, including Cochrane’s mortgage, is only available for homes where the house is tied to the property.

Still, that small step may be enough to start to encourage more supply and lending into the housing market, the Urban analysts wrote.

 

Communal living

Imagine a scheme that allowed a third-party bureaucracy to own property and homeowners to lease those ownership rights from it. (If that sounds somewhat Bolshevik, don’t forget that most Manhattan properties are cooperatives, and utilize roughly the same structure, with little of the socialism.)

Community land trusts use a similar structure to help foster affordable housing and economic development. They’ve been around for a few decades, and have a stellar track record for building community and enabling sustainable homeownership.

“The basic concept is that you want to take housing and land off the speculative market,” said Michael Swack, who helped develop the concept, and now directs the Center for Impact Finance at the University of New Hampshire. The “speculative” real estate market Swack describes is familiar: communities can be affordable for many families, until they’re “discovered” by more affluent people outside the neighborhood, who move in and, over time, make it less affordable for everyone and off-limits for some.

But community land trusts, which despite their name are usually not true trusts, but nonprofit entities, own and retain ownership of land, and offer long-term leases to homeowners. One of the oldest in the country is the Burlington, Vermont-based Champlain Housing Trust. The trust currently has 611 owned homes, and over the 35 years it’s been around, 1,100 families have become owners with its help.

Owners deed the land on which the homes sit to Champlain, which reduces the market price of those homes by about 20%. When an owner is ready to sell, she gets 100% of the equity that comes from having paid down her mortgage, and 100% of the appraised value of any capital improvement, but only 25% of the market appreciation, also determined by an appraisal. The home reverts back to the trust, and the cycle can begin again.

 

A sample community land trust lifecycle
Year 1 Appraised value of home $240,000
Purchase price $200,000
Year 8 Appraised value of home $280,000
Equity built $20,000
Market appreciation assigned to owner $10,000
New purchase price $230,000
Source: Champlain Housing Trust

 

“We’ve added a rung” to the homeownership ladder, Brenda Torpy, the trust’s CEO and one of its founders, told MarketWatch. “People now see that they can use our program as a stepping stone. We can provide a homeownership equivalent to what they can pay in rent and they start building equity immediately.”

Champlain owners sell their homes about every seven years or so, roughly the same tenure as national averages, and they move on for all the reasons Americans always move – in search of a bigger home to accommodate children, to warmer places for retirement, or to wherever a new job beckons.

In contrast, the Dudley Street Neighborhood Initiative, in Boston’s Roxbury neighborhood, has about 36 owned housing units dating back to its inception in 1989, and “less than a handful” of those owners have left, according to its director of operations, Tony Hernandez.

“People confess that they originally thought of it as a stepping stone, but now they think of it as home,” Hernandez said. “The intent was to get owners who would stay and keep the family knit into it, rather than a land trust model where they come in, build wealth and move on. We created a village.”

Grounded Solutions Network, a national affordable housing advocacy group, estimates that there are about 165 community land trusts around the country, with about 12,000 owned homes between them. Many land trusts also have affordable rental properties, which Grounded Solutions estimates includes about 25,000 rental units.

A Grounded Solutions analysis as of June 2018 founded that the average household income at the time of home purchase was 64% of area median income, and on average owners were buying homes at about 34% below fair market value.

For the people who buy from land trusts, homeownership has been a success. Through the worst of the foreclosure crisis, they became delinquent only about one-fourth as often as other homeowners.

Grounded Solutions and others argue that it also works for communities: “These programs retained the affordability of the homes to serve the same income level resale after resale. That means that these programs successfully created a stock of affordable homes that remain forever, even if the neighborhood gentrifies or the real estate market turns up or down.”

 

Fixer-uppers

Picture a house-hunter in an average American city, pre-qualified for a mortgage that would allow him to buy a median-priced home of about $250,000. Now picture that buyer hustling to bid on every house that comes along in that price range, only to be outbid by someone with more money, an all-cash offer, or something else.

But now imagine there’s a house that’s lingered on the market. It’s priced at about $180,000, but that’s because it requires a lot of work – a lot.

This scenario happens often enough that the mortgage finance industry has tools specifically for it. Meet the “renovation mortgage,” an innovation that allows the home buyer to take out one loan for the purchase price of the home plus the cost to rehab it.

“I like to say, don’t look at a house as it is, look at a house as what it could be,” said Jonathan Lawless, who runs Fannie Mae’s product development team for affordable housing. “That could be a much better way to get people in the door.”

What’s the catch? Anyone who’s ever undertaken a big renovation knows the drill, pardon the pun. While it may be a lot more convenient to apply for and manage one debt rather than two, renovation loans can still be a beast, rolling the nightmare of home repair into the knotty bureaucracy of mortgage underwriting. Brooke Anderson-Tompkins, president of upstate New York-based 1st Priority Mortgage, calls them both “cumbersome” and “a phenomenal product that more agents need to be aware of.”

For one thing, most renovation loans require that contractors be paid on a draw basis, which several sources told MarketWatch usually makes many potential hires uninterested in such projects. But Jamie Zeitz, who manages the Southeastern U.S. operations of Homebridge Financial Services, points out that contractors and homeowners should both be aware “there’s no safer way” to enter into a construction deal since the work being done is part of a financing package that requires all parties be satisfied, and that work be paid for.

There are also more parties involved than in a regular renovation process. Most loan programs require that a consultant oversee the project, for example. Homebridge offers a “Concierge Service Manager” to serve as a single point of contact for the homeowner, rather than forcing that person to deal with the consultant, the contractor, the appraiser, the people paying the contractor, and so on.

While they’re unwieldy, the mortgage finance industry increasingly sees such loan programs as an important key to solving the housing crunch, Lawless said. Fannie is looking at ways to streamline the draw process, for example, and also recently clarified that its program, called HomeStyle, can be used for accessory dwelling units, which are smaller, standalone buildings on an existing property. ADUs can be used to create rental income, or to house relatives.

Homebridge is the biggest originator of the renovation loan program offered by the Federal Housing Administration, which carries the unwieldy title “203(k) loans.” As with its more traditional mortgage programs, FHA 203(k) loans can be made with as little as 3.5% down, but they will cost a bit more than conventional mortgages.

##

LawrenceYunNARShort8.3MillionHousingUnitsRisingRentsHousingPricesCuredOnlyByMoreBuilding

The estimate of a 5 million unit housing shortage cited by MarketWatch is far lower than what is estimated by Lawrence Yun, or the Low Income Housing Coalition. Collage by MHProNews.

The MHProNews report linked below on Sun Communities provides some useful data as a tie-in to the above from MarketWatch. How so?

Sun, as a publicly trade company, has provided their research points comparing manufactured home rentals with apartment rentals.  The savings and advantages to manufactured homes in that category is significant.

Then, there is a comparison of buying a manufactured home with purchasing an existing home.  Neither Sun or MarketWatch makes a list of all of the possible pluses, but those they share – such as price point data – are useful.

The Government Accountability Office’s 2014 report on manufactured homes was largely favorable, and included an explanation for a concern that MarketWatch and the Urban Institute raised but did not resolve. Namely, that even with a higher loan cost, the price saving makes the monthly payment for a manufactured home significantly less than conventional housing.

 

 

The possible takeaways or bottom lines are many.  Most certainly, the above is useful in scenarios like Byran, TX, debunking Dave Ramsey, or clarifying some issues with John Oliver’s viral “Mobile Homes” video.

They also make the sad case for what one of the sources with long ties to MHI provided information to MHProNews about state executives chatter which bemoaned the Oliver video dubbed “association malpractice.”  See more on that in an upcoming report that will rip another band-aid off what is taking place in the MHI affiliated network.

All of these are reasons why manufactured home sales should be soaring, not snoring. As MHI member Skyline-Champion notes in their illustration, shown below, manufactured homes are far below their long term average, much less their recent or all-all time highs.

 

ManufacturedHomeMHShipments1990-2017DailybusinessNewsManufacturedHousingMHProNews600

Note the trend line. Manufactured housing is underperforming. Note the difference between RVs 20 years ago, and MH 20 years ago. MH Is underperforming. No one else has advanced a thesis as logical and compelling. To date, Omaha-Knoxville-Arlington have not even attempted to refute the claims. Will they today?

That’s this this morning’s 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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Related Reports:

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Sun Communities Under the Hood – Data Reveals – Manufactured Homes, Communities, Comparisons with Conventional, Multifamily Housing

 

HBO’s John Oliver on Last Week Tonight Mobile Homes Video, Manufactured Home Communities Fact Check

Why is Seattle Dying? Affordable Housing, Misplaced Compassion, and Manufactured Homes

 

 

 

 

Fannie Mae Reports Billions in Manufactured Home Community Deals, Details Others Lack

January 25th, 2019 Comments off

 

FannieMaeReportsBillionsManufacturedHomeCommunityDealsDetailsOthersLackDailyBusinessNewsMHProNews

In a release to the Daily Business News on MHProNews, Fannie Mae (OTCQB: FNMA) said that they have “provided more than $65 billion in financing to support the multifamily market in 2018 with its Delegated Underwriting and Servicing (DUS®) program. Fannie Mae continued to serve as a key source of liquidity by attracting a diverse investor base to purchase our DUS Mortgage-Backed Securities (MBS), while building a profitable and sustainable book of business.”

 

For more than 30 years, the DUS platform has brought stability to the multifamily market. Our innovative thinking is driving the industry forward and our commitment to serving our customers remains our top priority,” said Jeffery Hayward, Executive Vice President of Multifamily, Fannie Mae. “Our lender partnerships are also propelling Fannie Mae to be part of a global movement to transform rental housing to be healthier for residents and to help reduce energy and water consumption at the properties we finance.”

The Government Sponsored Enterprises (GSE) of Fannie Mae and Freddie Mac have both been given some latitude by the Federal Housing Finance Agency (FHFA)) for using certain qualifying loans on manufactured home communities as credits toward their Duty to Serve (DTS) requirements. Right or wrong, that use of DTS has been far more robust than it has toward single family manufactured home loans.

Fannie Mae was recognized in 2018 as the largest issuer of Green Bonds in the world, with more than $20 billion in Green MBS backed by either green certified properties or properties targeting a reduction in energy or water consumption. Fannie Mae increased its Green Financing portfolio to over $50 billion in 2018, driven by $20 billion in Green Financing. In 2018, Fannie Mae made LIHTC equity investment commitments towards meeting FHFA’s $500 million volume cap by deploying equity to rural and other underserved housing markets throughout the United States. Additionally, Fannie Mae led the affordable market with overall production of $7.4 billion, an increase of 9% from 2017,” stated their release to MHProNews.

Multifamily had another outstanding year in 2018, thanks to our lenders,” said Rob Levin, Senior Vice President for Multifamily Customer Engagement, Fannie Mae. “Together, we supported all market segments, bringing liquidity to the market, while building a balanced portfolio that reflects our strategy with strong credit quality and mission-rich business.”

The following list are the top 10 DUS Lenders produced the highest business volumes in 2018. Also listing that follows also includes the Top 5 Lender rankings for highest volumes in 2018 for Multifamily Affordable Housing, Small Loans, Green Financing, Seniors Housing, Structured Transactions, Manufactured Housing Communities, and Student Housing:

 

Top 10 DUS Producers in 2018             Volume ($Billion)

  1. Wells Fargo Multifamily Capital                      $8.1
  2. Walker & Dunlop, LLC                                    $6.9
  3. Berkadia Commercial Mortgage, LLC             $6.6
  4. CBRE Multifamily Capital, Inc.                        $6.1
  5. Newmark Knight Frank                                    $4.3
  6. Greystone Servicing Corporation, Inc.            $3.9
  7. Capital One, National Association                   $3.8
  8. KeyBank National Association                         $3.4
  9. PGIM Real Estate Finance                              $3.3
  10. Arbor Commercial Funding I, LLC                   $3.2

 

Top 5 DUS Producers for Multifamily Affordable Housing in 2018

  1. Wells Fargo Multifamily Capital
  2. CBRE Multifamily Capital, Inc.
  3. Greystone Servicing Corporation, Inc.
  4. PGIM Real Estate Finance
  5. Jones Lang LaSalle Multifamily, LLC

 

Top 5 DUS Producers for Small Loans in 2018*

  1. Greystone Servicing Corporation, Inc.
  2. Arbor Commercial Funding I, LLC
  3. Hunt Mortgage Group
  4. Walker & Dunlop, LLC
  5. Bellwether Enterprise Real Estate Capital, LLC

 

Top 5 DUS Producers for Green Financing in 2018

  1. Berkadia Commercial Mortgage, LLC
  2. Greystone Servicing Corporation, Inc.
  3. Arbor Commercial Funding I, LLC
  4. CBRE Multifamily Capital, Inc.
  5. Capital One, National Association

 

Top 5 DUS Producers for Seniors Housing in 2018

  1. Berkadia Commercial Mortgage, LLC
  2. Grandbridge Real Estate Capital, LLC
  3. Capital One, National Association
  4. CBRE Multifamily Capital, Inc.
  5. M&T Realty Capital Corporation

 

Top 5 DUS Producers for Structured Transactions in 2018

  1. Wells Fargo Multifamily Capital
  2. Newmark Knight Frank
  3. Walker & Dunlop, LLC
  4. PNC Real Estate
  5. Berkadia Commercial Mortgage, LLC

 

Top 5 DUS Producers for Manufactured Housing Communities in 2018

  1. Walker & Dunlop, LLC
  2. Wells Fargo Multifamily Capital
  3. KeyBank National Association
  4. Berkadia Commercial Mortgage, LLC
  5. Capital One, National Association

 

Top 5 DUS Producers for Student Housing in 2018

  1. Wells Fargo Multifamily Capital
  2. Walker & Dunlop, LLC
  3. CBRE Multifamily Capital, Inc.
  4. PGIM Real Estate Finance
  5. KeyBank National Association

 

Listed below are 2018 production highlights for individual business categories, which are included in the total multifamily production number.

  • Affordable Housing – $7.4 billion comprised of $6.0 billion in Multifamily Affordable Housing (for rent-restricted properties and properties receiving other federal and state subsidies), an increase of 10 percent from $5.4 billion in 2017; and $1.4 billion for properties with rent restrictions between 60 percent and 80 percent AMI, in line with $1.4 billion in 2017
  • Small Loans* – $2.2 billion
  • Green Financing – $20.1 billion (properties with Green Building Certifications or loans targeting a 25 percent reduction or more in energy or water consumption)
  • Student Housing – $2.7 billion
  • Structured Transactions – $9.5 billion
  • Seniors Housing – $2.3 billion
  • Manufactured Housing Communities – $2.9 billion, an increase of 56 percent from $1.9 billion in 2017

Footnotes:

*Small Loans are defined as loans of $3 million or less nationwide and $5 million or less in high-cost markets, and typically finance multifamily properties with five to 50 units.

**Due to rounding, amounts reported may not add up to overall totals.

The above is insightful on several levels.  First, note that more than one of those manufactured home community DUS lenders has ties to Berkshire Hathaway.

Next, is that this is arguably part of the give-take mechanism that Arlington, VA based Manufactured Housing Institute (MHI) has used to get some of their community members in the National Community Council (NCC) to swallow and ignore the single-family chattel lending that the Manufactured Housing Association for Regulatory Reform (MHARR) has stressed should be at the core of DTS by the GSEs.

 

MHARRMarkWeissIfCongressHadMeanttheDutytoServeToBeOptionItWouldNotHaveCalledItADutyDefintionofDutyIsMandatoryResponsibilityDailyBusinessNewsMHProNews

 

It also brings back into focus what some in manufactured housing call the “sell-out” or “betrayal” of the industry’s independent producers of manufactured homes. How so?  Consider this from Fannie Mae’s own site, which stresses their ‘support’ for manufactured housing as:

  1. A) The Multifamily Manufactured Housing Communities Market . …
  2. B) Develop an enhanced manufactured housing loanproduct for quality manufactured (homes)…

It must not be forgotten that MHI leaders held closed door meetings with Fannie and Freddie, to which none of the parties have released the meeting minutes, that ultimately resulted in the “new class of homes” program that has emerged…

…and so far has landed with a thud.  While Fannie and Freddie are both mum on specifics, the new HUD Code manufactured home shipments data is all the proof that is needed.  That data, combined with anecdotal information from various sources have made it clear that little has occurred from the new class of homes, other than noise from MHI, their allies, and Omaha-Knoxville puppet masters.

YouAskTheQuestionsRecordWithSmarthonePublicStatementsUsefulForExposingCorruptoinCollusioniNsideManufacturedHousingDailyBusinessNewsMHproNews

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For more, see the related reports, linked below. That’s MH “Industry News, Tips, and Views Pros Can Use” © where “We Provide, You Decide.” ## © (News, analysis, and commentary.)

 

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SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

 

Related Reports:

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MHI CEO Dick Jennison’s Pledge – 500,000 New Manufactured Home Shipments

GSEs’ “Duty To Serve Underserved Markets” Plans

Midwest Manufactured Housing Federation Official Louisville Show Communique to MHProNews

 

Independent National Manufactured Housing Post-Production Association Takes Major Step

Production Decline Continues in November 2018

 

 

 

 

 

 

“Top 10” – RV Horizons Lost License, Reports Mainstream Media, Protests, MHU/MHP Funds Leader Responds

January 4th, 2019 Comments off

 

Top10RVHorizonsLostLicenseReportsMainstreamMediaProtestsMHUMHPFundLeaderRespondsDailyBusinessNewsMHProNews

Since Colorado-based RV Horizons purchased Houlton’s St. Croix Meadows RV Park in the fall of 2015, Town of St. Joseph Town Board has twice voted to deny renewal of the park’s operating license, citing various infractions including failure to pay its bills to the city,” said the Wisconsin-side of the St. Paul/Minneapolis, MN metro’s Hudson Star Observer.

 

The Hudson newspaper cited this as one of their top 10 stories for 2018. An official for RV Horizons said off the record about that point from the newspaper’s report, “I guess it’s good that a community license renewal is a top story in this town and there are no bigger issues to report on. That’s the kind of town we like to invest in!

The Hudson paper did make it clear, later in their story, that the RV Horizon’s license was renewed.  RV Horizon confirmed that in an extensive comment published further below.

But an industry’s activist group, MHAction has put this incident out to their followers in a variety of ways.  They played a prominent part of that news media’s report.

That further muddies the waters, when MH spin and their own media efforts, are more commonly entering the media mix.  The image below is from earlier in this effort by MHAction.

 

RVHorizonsFrankRolfeDaveReynoldsMHActionProtestStcroixWIManufacturedHomeCommunityDaliyBusinessNewsMHProNews

The photo at the top is from a December protest of MHAction of a different ‘Frank and Dave’ event.

 

 

Beyond the Mainstream Report

To get both sides of the story, MHProNews reached out to Dave Reynolds and Frank Rolfe, principals in RV Horizons and other manufactured home related operations.

 

StCroixMeadowsRVMHCommunityParkDailyBusinessNewsMHProNEws

 

Dave Reynolds sent the following, detailed response to a series of questions from MHProNews to RV Horizons.

 

DaveReynoldsFrankRolfeRVhorizonsMobileHomeParkStoreMobileHomeUniversityBootCamps-postedDailyBusinessNewsMHProNews

Dave Reynolds (l), Frank Rolfe (r), of RV Horizons, MHU, MHP Funds. 

Tony,

Here is my response:

 

  1. Status of water issues  –  water is tested regularly as required by Wisconsin DNR and is safe for consumption.   We have just recently installed a second well to provide more capacity as well as a backup.
  2. Status of Payments  –  We are current on our payments and actually tried to prepay this a year in advance and the Town would not accept that payment due to their accounting procedures.    We are in constant contact with the Town and provide them a report each month that includes a community occupancy map and the monthly parking fee tax payment.
  3. Shandra/MHAction Statements –  I would be happy to talk to her to hear her concerns.
  4. Cosmetic vs. structural changes  –  We are doing both, and both are important.  Structural improvements include the upcoming sewer project at a cost of over $200,000 which will be completed in the spring, a new well has already been drilled, a generator will ensure water is always flowing to the residents even in the event of a power outage, dangerous trees and tree limbs have been removed or trimmed back.  The majority of improvements are infrastructure improvements and not cosmetic.  But cosmetic improvements are important as well and we will continue to improve property appearance  – something we will never apologize for.    To date we have spent approximately $250,000 on property improvements on top of over $200,000 in new home inventory.
  5. Management Problems  –  We have had excessive turnover in the Community manager position, and the district manager position for that matter.  This is where the miscommunication stemmed from and we have addressed that situation to highlighting the importance of maintaining a strong commitment to our relationship with the Town, our residents, and towards continued improvements to the community.    This community went for many years with no improvements prior to our ownership.    While we look forward to completing all of our projects to improve the community, it doesn’t happen overnight.     There is a strong need for affordable housing in this market and our goal with this and every community we own is to improve them each and every year.”

Dave Reynolds
PO Box 457
Cedaredge, CO 81413

STCroixMeadoswRVParkmanufacturedHomeCommunity

Collage by MHProNews.

 

 

Returning to Local Media Report

Back to quotes from the Star Observer about RV Horizons -“Both votes — the first in June 2017 and the second in June 2018 — were reversed, allowing the company’s continued presence in the community.”

I wish I could change what’s happened in the past,” RV Horizons district manager Rod Engh told town officials in September before they voted to reinstate the license, per John Russett’s narrative.I can’t. But I can say that it’s going to get better — I promise.”

Russett added that, “What preceded the vote was nearly two years of back-and-forth between Houlton MHP, LLC — the subsidiary created by RV Horizons to run St. Croix Meadows RV Park — and town officials on the company’s failures to meet its obligations to the town.”

Mark Hazelbaker, an attorney with Kasieta Legal Group, LLC, in Madison, attended the Sept. 13 meeting on behalf of RV Horizons with Engh.

There is some back and forth of events, including claims- and counter-claims about improvements.  But perhaps the most important part of the account to potentially thousands of manufactured home industry professionals is that a spokesperson for MHAction was cited and quoted extensively.

What follows is the conclusion of their  article, which appears to rely solely on Sandra BP-Weeks, as if she was a manufactured home community expert, or a neutral third-party.

Here is that extended quote from the Star Observer follows below, between the — lines, but the entire, original report is at this page linked here.

Since the mid-1990s, manufactured home communities have shifted largely from locally owned entities to ownership by multi-state corporations, according to Shandra BP-Weeks, one of three organizing directors for MHAction, a national movement of manufactured homeowners pushing back against the consequences of corporate ownership.

“There’s not a clear process at most of these companies for residents to make their concerns heard,” BP-Weeks said. She added many corporate models are designed with a focus on a return for investors as opposed to quality of life improvements for residents.

While some corporate owners make a point to maintain local management, she said a growing trend is to consolidate parks under one manager by purchasing multiple parks in the same area.

I think that the management style is something that seems to be sort of led by RV Horizons, so we’ve seen recently that a couple other companies are starting to do that,” Weeks [reportedly] said.So this is definitely a pattern we’ve seen with them in that they’ve mentioned on their mobile home university website as a good strategy with buying mobile homes to buy them in regions so they can share managers between the communities.”

— end of Hudson Star Observer  report.

 

The above quote framed the account in a fashion that made not just RV Horizons, but other firms in the manufactured home industry appear to be problematic. There was no balance on that from RV Horizons, which is one reason MHProNews sought their vantagepoint.  Professional readers now have some balance, with this report.

As a relevant bookend, the Public, a progressive publication sympathetic to MHAction, recently said about different cases that, “…Residents have joined the Manufactured Housing Association of Illinois (mhoia.org) and Manufactured Housing Action (mhaction.org). In December, 2017, Jeff and Debbie Kiel of Urbana joined other protesters in confronting RV Horizons at a Mobile Home University Workshop in Austin, Texas.

This month (December, 2018), the Manufactured Housing Association of Illinois is launching a campaign to call attention to the destructive business model used by RV Horizons and Kingsley…”

What the Star Observer and the Public have in common is this. There is a multi-state effort underway by MHAction, often teaming with other state-based resident groups, to advance their agenda. The MHAction narrative is to call significant swaths of the community sector as a “destructive” business model.

Would the improvements at St. Croix Meadows have occurred in the absence of private capital?

 

MH Industry Takeaways?

While this account is about RV Horizons and ‘Frank and Dave,’ it is more broadly a case of the manufactured home industry in the U.S. currently having no effective post-production national association.  Modestly funded MHAction has a spokesperson that is actively engaging the media, to essentially attack the industry.  Where is something similar occurring for industry professionals?

Rolfe has made that point previously, and rather politely, before going quiet on such issues.

FrankRolfeMHFundRVHorizonsMobileHomeUniversityDailyBusinessNewsManufacturedHomeIndustryResearchReportsDataAnalysisMHProNews595

 

  • The absence of an engaged-on-such-issues, post-production national manufactured home trade association means that no one routinely steps-up-to-the-plate to defend such cases with communities.
  • That also applies to retailers, who do battle with zoning and other officials.
  • It is essentially true for almost anyone else in the industry, save for selected cases that may tilt toward a favored MHI member.

With MHAction actively engaged with media, and with politicos – such as Senator Elizabeth Warren (MA-D), who is ‘exploring’ a run for the Democratic nominee for president in 2020 – the industry’s members should be keenly aware of the potential risks from having no effective voice to respond to such issues.

So MHPros are left with an ironic, #nettlesome, and troubling picture.  MHAction is more active with the mainstream media to create a poor image than the Manufactured Housing Institute is to defend the industry from such problematic reports.

And ‘Frank and Dave’ are MHI members.

The bottom line in this particular case appears to be that RV Horizon did what they needed to do to resolve the matter with local officials in Wisconsin. But the ongoing activities by MHAction to stir-the-pot against private enterprise is not to be overlooked.

While this isn’t the only issue creating artificial headwinds for the industry, no wonder industry shipments are down.  See the related reports, further below the byline and notices.

MHProNews will monitor select cases of such matters and report accordingly. “We Provide, You Decide.” © ## (News, analysis, and commentary.)

 

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NOTICE 2: Readers have periodically reported that they are getting a better experience when reading MHProNews on the Microsoft Edge, or Apple Safari browser than with Google’s Chrome browser. Chrome reportedly manipulates the content of a page more than the other two.

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SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

 

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Facts & Analysis – Senator Elizabeth Warren re: Manufactured Housing Institute Memo to MHI Members, 10-3-2018

 

Expose! Why Has Warren Buffett/BH Funded Anti-MHC Activists, MHAction? Why Fund Attacks on ELS, Frank Rolfe, Blackstone Group?

 

 

 

 

 

Skyline-Champion (SKY) Manufactured and Modular Factory Home-Builders, Real vs Faked or Misleading News, Reports

December 10th, 2018 Comments off

 

SkylineChampionLogoModularHomeExteriorPhotoRealVsFakedMisleadingNewsDailyBusinessNewsMHProNews

From time to time state association executives or their staff send hot links into their members to select members. These are often about mainstream news stories that the executive or an association staffer at times fails to carefully check. We’re human, it happens.

 

But as MHProNews reported last year, there are a growing number of often off-shore operations that claim to be doing market research on factory-built homes, including manufactured homes. They are doing what is often flawed, misleading, or outdated ‘research’ – and now that is apparent at-a-glance. Because Champion Home Builders or Skyline Corporation is now Skyline Champion (SKY).  See a recent example, below.

 

 2018-12-10_1113GlobalManufacturedHousingMarket2019TopVendorsManufacturedModularHousingIndustryDailyBusinessNewsMHProNews

 

Something similar happens in the modular housing field too, as MHBA’s Tom Hardiman has told MHProNews.  See that related report, by clicking the linked box below.

 

MHBA’s Hardiman Rips “Global Banking & Finance” Article Entitled, “Why Does Your Bank Not Finance Modular Homes?”

 ModularHomeBuildersAssociationDailyBusinessNewsMHproNews

Respectfully, it’s past time that associations do a better job of curating what they send out to their members, unless they come with commentary that explains the problems and errors, such as this “Global” report.

That clarification of faked, misleading or otherwise problematic reports about factory-built housing said, let’s dive into latest reporting on Skyline Champion (SKY), with analysis and commentary.  Prior to the opening bell, here was some data from SKY, which is one of the tracked stocks on our evening market report.  Last Friday’s manufactured housing connected stocks evening report on the Daily Business News is linked here.

 

 

The images provided are inserted by MHProNews.  None were part of the Skyline Champion Corp. press release, but often come from the firm’s most recent investor relations page, so are a useful complimentary information. 

 

 SkylineChampionLogoPressReleaseDailyBusinessNewsMHProNews

 BusinessWireBerkshireHathawayCompanyManufacturedHousingIndustryDailyBusinessNewsMHProNews

ELKHART, Ind.–(BUSINESS WIRE)– Skyline Champion Corporation (NYSE:SKY) (“Skyline Champion”), today announced financial results for its second quarter ended September 29, 2018 of the fiscal year ending March 30, 2019 (“fiscal 2019”).

On June 1, 2018, Skyline Corporation (“Skyline”) and Champion Enterprises Holdings, LLC (“Champion”), the parent company of Champion Home Builders, Inc., completed the previously announced combination of their operations (the “Combination”). The combined company operates as Skyline Champion Corporation and is traded on the New York Stock Exchange under the ticker symbol “SKY”. The second quarter of fiscal 2019 includes a full quarter of results for both the Skyline and Champion businesses while the six-month period ended September 29, 2018 includes only four months of results from the Skyline operations. Results for the three and six months ended September 30, 2017 of the fiscal year ended March 31, 2018 (“fiscal 2018”) include only the results of Champion.

 

2018-12-10_0918KiethAndersonPhotoLaurieHoughEVPChiefFinancialOfficerCFODailyBusinessNewsMHProNewsSkylineChampionLogo

PwCPriceWaterhouseCoopersServicesFirmsBigFourAudtiorsWikiDailyBusinessNewsMHProNews

 

Second Quarter Fiscal 2019 Highlights (compared to Second Quarter Fiscal 2018)

·        Net sales increased 37% to $355.4 million

·        Total homes sold increased 26% to 5,350

·        Gross profit as a percent of sales expanded by 70 basis points to 16.6%

·        Net loss of $77.0 million, compared to net income of $7.4 million, the year-over-year decline includes $85.8 million in non-cash, equity-based compensation expense

·        EPS was a net loss of $1.42; excluding non-recurring expenses, Adjusted EPS was net income of $0.23

·        Adjusted EBITDA increased 58% to $23.8 million

·        Adjusted EBITDA margin expanded by 90 basis points to 6.7%

The second quarter fiscal 2019 was another strong period for Skyline Champion as we continued to benefit from a healthy market and increased demand for our products,” said Keith Anderson, Skyline Champion’s Chief Executive Officer. “I am encouraged by the results we are seeing and the progress that we have made toward achieving synergies from the combined businesses. As we look forward, demand for manufactured homes remains healthy and Skyline Champion is strategically adding capacity to meet the needs of the market.”

2018-12-10_0933SkylineChampionLogoManufacturedModularHousingIndustryDailyBusinessNewsMHProNews

Several manufactured home producers are ‘dual members’ of MHI and MHARR. At this time, SKY is only a MHI member.

2018-12-10_0945SkylinechampionLogoIRSnapshotDailyBusinessNewsMHProNews

 

Second Quarter Fiscal 2019 Results

Net sales for the second quarter fiscal 2019 increased by 37% to $355.4 million compared to the prior-year period. The increase in net sales was driven by an increase in the number of homes sold as well as an increase in average selling price (“ASP”) per home sold. The number of U.S. factory-built homes sold by Skyline Champion in the second quarter fiscal 2019 increased by 29% to 5,038 with U.S. ASPs increasing by 16% to $60,900. Unit volume increased due to additional manufacturing capacity as well as plant operating improvements. Home sales prices increased primarily in order to offset rising material cost inflation while remaining price competitive and continuing to offer affordable housing alternatives to our customers. The number of Canadian factory-built homes sold declined to 312 homes compared to 345 homes in the prior-year period with the decrease concentrated in the Alberta and Saskatchewan provinces where housing demand remains soft. Looking forward, overall demand for manufactured housing remains strong and Skyline Champion is well positioned with $252 million in backlog as of September 2018.

 

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2018-12-10_0949SkyChampionManufacturedHousingShipmentHistoryDailyBusinessNewsMHProNewsNov2018

MHProNews management holds no position in any stock tracked by our evening market report.

 

Gross profit increased by 43% to $59.0 million compared to the prior-year period. Gross profit was 16.6% of net sales for the second quarter fiscal 2019, a 70-basis point improvement compared to 15.9% in the second quarter fiscal 2018. Gross profit expansion was driven by an increase in the average selling price of homes sold in addition to plant operating improvements which led to increased output and an increased number of homes sold.

2018-12-10_0946SkylineChampionLogoComboTwoMarketLeadingPlatformsManufacturedModularHomeIndustryDailyBusinessNewsMHproNews

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2018-12-10_0947SkylineChampionLogoIRComplementaryManufacturingFootprintUSCanadaRetailLogisticsDailyBusinessNewsMHProNews

Selling, general and administrative expenses (“SG&A”) in the second quarter fiscal 2019 increased to $128.1 million from $27.8 million in the same period last year, primarily due to non-cash, equity-based compensation expense of $85.8 million resulting from the vesting of restricted shares issued to Champion employees and directors in connection with the Combination, which was triggered by the secondary offerings which closed during the second quarter of fiscal 2019. In addition, SG&A includes the Skyline operations for the entire second quarter of fiscal 2019 as well as continued integration and restructuring costs associated with the Combination.

2018-12-10_095SkyChampionManufacturedHomesStructuralOpportunitiesoverSiteBuiltMHIUnderperforming2018-12-10_1001SkyChampionManufacturedHousingUnderpinnedbySupportiveDemographicTrendsDailyBusinessNewsMHProNews

 

The net loss for the second quarter fiscal 2019 was $77.0 million, compared to net income of $7.4 million during the same period from the prior year. The decline in net income was driven by an increase in SG&A expenses related to the Combination, equity compensation expense and higher tax expense. Skyline Champion’s effective income tax rate for the second quarter fiscal 2019 was impacted by the non-deductibility of certain transaction-related expenses and non-cash equity compensation.

 

2018-12-10_1008SkyChampionManufacturedHomeCommunitiesMHHousingIndustryDailyBusinessNewsMHProNews

2018-12-10_1036MoreFinancingOptionsDailyBusinessNewsMHProNews

 

Adjusted EBITDA for the second quarter fiscal 2019 increased by 58% to $23.8 million compared to the second quarter fiscal 2018. The increase was primarily driven by higher sales volumes, improved gross profit and leveraging of fixed costs. The Adjusted EBITDA margin expanded by 90 basis points to 6.7%.

As of September 29, 2018, Skyline Champion had $102.9 million of cash and cash equivalents and $32.1 million of unused borrowing capacity under its revolving credit facility.

 

2018-12-10_1041SkyChampion#2InManufacturedHousingLegacyHousing#4DailyBusinessNewsMHProNews

2018-12-10_104SkyChampionProductOfferingsManufacturedModularHousingIndustryDailyBusinessNewsMHProNews

 

Six Months Ended September 29, 2018 Financial Highlights

For the six months ended September 29, 2018 net sales were $677.7 million, which represents growth of 34%, or $173.6 million, compared to the six months ended September 30, 2017.

Gross profit increased $36.8 million or 48% to $114.2 million compared to $77.4 million for the prior year period. Gross profit was 16.8% of net sales for the six months ended September 29, 2018, compared to 15.3% in the six months ended September 30, 2017.

 

2018-12-10_1052SkylineChampionRecentFinancialDataDailyBusinessNewsMHProNews

 

SG&A increased to $173.2 million for the six months ended September 29, 2018, compared to $54.6 million in the prior year period, driven by $93.9 million of non-cash, equity compensation expense, as well as transaction and integration related expenses and added capacity from the Skyline operations.

The net loss for the six months ended September 29, 2018 was $77.9 million, compared to net income of $12.7 million for the prior year period.

Adjusted EBITDA for the six months ended September 29, 2018 increased by 79% to $46.5 million compared $26.0 million for the six months ended September 30, 2017. 

### End of Daily Business News on MHProNews portions of the SKY PR. Other recent headlines are as shown below. ###

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Winter 2018-2019 in Manufactured Housing Land

Facts, figures, independent analysis, and misleading ‘global’ reports questioned – as promised by the headline.  That’s this afternoon’s “Industry News, Tips, and Views Pros Can Use,” © where “We Provide, You Decide.” © ## (News, analysis, and commentary.)

NOTICE: Readers have periodically reported that they are getting a better experience when reading MHProNews on the Microsoft Edge, or Apple Safari browser than with Google’s Chrome browser. Chrome reportedly manipulates the content of a page more than the other two browsers.

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Manufactured Homes, Conventional Construction, Hurricane Michael-Reports, Videos, Lessons Being Learned

October 12th, 2018 Comments off

ManufacturedHomesConventonalConstructionHurricaneMicahaelReportsVideosLeassonsBeingLearnedDailyBuisnessNewsMHProNEws

One network commentator said that Hurricane Michael coming on shore was like the force of an E4 Tornado that lasted for 30 minutes, instead of 30 seconds. It’s not a perfect analogy, but paints several images that many don’t realize. Among them, that tornadoes typically only stay on the ground for a few minutes or less, while a major hurricane rumbles slowly over the terrain, with the ability to create storm surge, flooding, as well as wind damage.  That’s why the hurricane losses are rapidly into the billions, instead of millions, of dollars.

 

MH Industry Reports, Video Insights

Just west of the bulls-eye in the Florida Panhandle – near Mobile, Alabama – a manufactured home community operator told MHProNews that there was no damage at all to his property.  He thanked us for checking in.

ManufacturedHomeSurvivesHurricaneMichaelNotMobileHomePhotoStillFromVideoDailyBusinessNEwsMHPronews

A manufactured home retailer in Panama City, Florida told the Daily Business News on MHProNews yesterday afternoon that they had not yet been able to access their location, but expected serious problems. Most in the directly impacted areas are still without power. By contrast, the same company has a location north-north west of the Villages that suffered no reported problems.

Several factories we heard from said that they had not heard from FEMA, but one HUD Code builder said that they had been contacted by a FEMA supplier.  They informed MHProNews that they declined to participate in supplying homes.

HurricaneMichaelStilWashingtonPostVideoPostedBelowDailyBuisnessNewsMHproNews

Still from the WaPo video posted further below. It is not entirely clear if this is conventional housing, commercial, or something else.

Sources are telling MHProNews that there seems to be a shift at FEMA towards using more RVs, and using fewer Manufactured Housing Units (MHUs).  But there are still thousands of such units in FEMAs inventor. There is an expectation that they will be put to work in the Carolinas and Florida too.

We checked video footage from various media outlets.

 

One of the hardest-hit spots in Florida is Mexico Beach, where Michael crashed ashore Wednesday as a Category 4 monster with 155 mph winds on Oct. 11. It shows damage to conventional housing and commercial buildings too.

 

 

Some videos appeared to show what looked like manufactured home communities in the distance, but the views were too brief to be useful. This one below isn’t an inspiring video, but it shows what apparently was an older pre-HUD Code mobile home (MH), or perhaps an early HUD Code manufactured home. The MH was twisted, but the problem was a tree falling on it.

 

 

A still in the cheesy video above shows extensive damage along a stretch of beachfront property, where block-after-block of conventional housing was leveled.  They source for that video cites the family in that ‘mobile home’ with the tree toppled on it telling CNN that they planned to continue in their ‘mobile home,’ even after the storm damage.

We found video of an RV park with overturned recreational vehicles, but no manufactured homes visible in it.

This next video by the Washington Post shows block after block of conventional housing and commercial construction that is damaged. Boats washed up, piers, and other forms of destruction are evident. There is a glimpse of a manufactured home in this video below, which seems to be in good shape.

 

Time is reporting that, “An insurance company that produces models for catastrophes is estimating Hurricane Michael caused about $8 billion in insured losses.”

We welcome photos, videos and other tips from industry readers who have some first-hand experience or shots.

As more information is developed, we plan to do a follow up report for MHLivingNews. Watch for it.

 

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To report a news tip, click the image above or send an email to iReportMHNewsTips@mhmsm.com – To help us spot your message in our volume of email, please put the words NEWS TIP in the subject line.

Financing and Other News Tips Previews – MH Insiders Sneak Peak

MHProNews has had numerous tips, messages, calls and comments this past week. Among them are some items that could prove to be a bombshell for people focused on the finance topic.

That finance report will roil some, and embarrass others.

But they are insider facts that industry professionals, home buyers, and home owners deserve and need to be well-informed about.

Our report on a key event during the Clinton administration had to be bumped until next week, due to Hurricane Michael and other developments.  Part of our already published tee-up for that insider report is further below, under the related reports subheading.

That’s this evening’s “News through the lens of manufactured homes, and factory-built housing,” © where “We Provide, You Decide.” ©. ## (News, analysis, and commentary.)

NOTICES: You can join the scores who follow or direct message us on Twitter at this link. You can get our ‘read-hot’ industry-leading emailed headline news updates, at this link here.

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Clayton’s Surprising Result – Sunday Morning Weekly Recap, MH Headline Reports and News in Review Aug 19 to Aug 26, 2018

August 26th, 2018 Comments off

SundayMorningManufacturedHousingINdustryRecapDailyBusinessNewsMHProNews88.19.2018toAug2610`8

Trivia: note that the MHProNews home page looks like that miniature iPad screen, just moments before the weekly recap is published. We can get our share of typos, but when it comes to evidence, trends, facts, and reports – we sweat the details – all for thousands of industry readers like you. When faced by a menacing Goliath, it’s human nature to react with a level of fear.

 

Fear can be paralyzing. Fear also can keep the mind from seeing weaknesses in a threatening behemoth.

ClaytonsSurprisingResultSundayMorningManufacturedHousingNewsRecapAug19toAug262018-600x315

Titling, graphic layout by MHProNews.

There are others, of course, that see the Clayton brand as friendly or benign. But even they don’t want to cross them…do they?

 

The ‘800-pound gorilla’ in the manufactured housing room is Clayton Homes. Not many in the industry are willing to publicly name them, unless it is to praise them. A trade media competitor admitted in writing to MHProNews that we write about the topics – like Clayton and their monopolistic moat – that others talk about at the bar, or during a private professional meal.

That aside, here’s a multiple layered surprise.

Clayton has closed about 100 retail stores net in about 7 years. That’s a surprise to many.  But it is part of one of several Daily Business News stories from this past week.

Keep in mind, that Clayton is still buying MH retailers, even as they are closing their own failing retail sales centers. Think about that data-point for a few moments. The industry is slowly growing, and Clayton Homes are closing manufactured and modular home retail stores?

We plan a special report on that topic in the days ahead. But keep that factoid in mind – given to us courtesy of Kevin Clayton, and Berkshire Hathaway – because it is a reminder that they are big, but not invincible. They may have a moat, but not everything that Clayton touches turns to gold.

ManufacturedHomeIndustry#1HeadlineNewsMHProNews

To see a sample of our emailed news update, click here. To sign up for the factory-built home industry’s #1 headline news, click here or the graphic above.

Then, keep in mind who is dominating MHI? Why would the independents of the industry support and follow the association that’s led by the company that’s closed more retail locations than perhaps any other retailer in the last 5 years?

To sign up for our industry leading headline news updates in seconds, click here.

With no further adieu, let’s dive into the headlines and topics for the week in review.

 

 

 

What’s New on MHLivingNews

MHLivingNewsImprovedLivingForLe$$taglinedropshadow

MHLivingNews features educational, lifestyle and living news on prefab housing, with a focus on manufactured homes.

 

Introducing the Verge and Curbed’s “Home of the Future” – Video

Introducing the Verge and Curbed’s “Home of the Future” – Video

 

What’s New on the Masthead

Racism – Getting Increasing Prosperity, Stability, Safety, and Certainty

What’s New on the Daily Business News on MHProNews

DailyBusinessNewsLogoMHProNewsLogo (1)

 

Saturday 8.25.2018

MH Community Owner Slammed as “Vulture Capitalist” by Mainstream Media

MH Community Owner Slammed as “Vulture Capitalist” by Mainstream Media

 

Friday 8.24.2018 

Just the Facts – Compare Curbed and MHI, Next Step, Clayton, Cavco, Champion Homes Video Results

Just the Facts – Compare Curbed and MHI, Next Step, Clayton, Cavco, Champion Homes Video Results

Smoke and Mirrors Immunity Deal for Allen Weisselberg, Longtime Trump Organization CFO, Plus MH Market Updates 

Chinese PreFabs, Modulars Are Selling in the USA, Here’s an Example

Chinese PreFabs, Modulars Are Selling in the USA, Here’s an Example

Stunning Degree of Corruption, Collusion, Manipulation, and Ignorance Threatens MHVille

Stunning Degree of Corruption, Collusion, Manipulation, and Ignorance Threatens MHVille

 

Thursday 8.23.2018

Court Ruling for HUD on Amending Affirmatively Furthering Fair Housing (AFFH) Opens Door for More HomeSites for Manufactured Housing

Court Ruling for HUD on Amending Affirmatively Furthering Fair Housing (AFFH) Opens Door for More HomeSites for Manufactured Housing

Bill Gates Follows this Warren Buffett Investment Plan, Video, Plus MH Market Updates 

How to Avoid Losing Billions, Huge Loses Reported by WSJ, Other Media

How to Avoid Losing Billions, Huge Loses Reported by WSJ, Other Media

Rising Prices and Rates Cool Housing Sales, MH Industry Pro Sounds Off, New Data & Video

Rising Prices and Rates Cool Housing Sales, MH Industry Pro Sounds Off, New Data & Video

 

Wednesday 8.22.2018 

WH Economist Larry Kudlow – Why Market Ignoring Cohen, Manafort News, Plus MH Market Updates 

“Undesirable” – Community Owner Sues City for Fraud

“Undesirable” – Community Owner Sues City for Fraud

Measuring Effectiveness, Facts and Course Corrections for Waste, Fraud, Abuse

Measuring Effectiveness, Facts and Course Corrections for Waste, Fraud, Abuse

Richard ‘Dick’ Jennison, Manufactured Housing Institute CEO, Doubles Down, Industry Reactions, Fact Check to Growth Strategy

Richard ‘Dick’ Jennison, Manufactured Housing Institute CEO, Doubles Down, Industry Reactions, Fact Check to Growth Strategy

 

 

Tuesday 8.21.2018 

Help Others “Get It” – Loans on “Mobile Homes” Promoted by Another U.S. President

Help Others “Get It” – Loans on “Mobile Homes” Promoted by Another U.S. President

 Paul Manafort Guilty, but No Russia, No Campaign Connection, Cohen Pleads – Plus MH Market Updates

Some Manufactured Homes Included, as Metro Weighs Opening Additional Land for Homes Amid Housing Crunch

Some Manufactured Homes Included, as Metro Weighs Opening Additional Land for Homes Amid Housing Crunch

Court Hands DOE Procedural Victory in Potentially Costly Manufactured Housing Energy Standards Case

Court Hands DOE Procedural Victory in Potentially Costly Manufactured Housing Energy Standards Case

 

Monday 8.20.2018

Big MH Takeover Bid, “Best, Final Offer” Plus Manufactured Home Markets

Big MH Takeover Bid, “Best, Final Offer” Plus Manufactured Home Markets

Trendlines Don’t Lie, Real Challenges, Hidden Manufactured Housing Opportunities Revealed

Trendlines Don’t Lie, Real Challenges, Hidden Manufactured Housing Opportunities Revealed

Sustainable Success. Your Best MH Investment? Monday Morning Manufactured Housing Sales and Marketing Meeting

Sustainable Success. Your Best MH Investment? Monday Morning Manufactured Housing Sales and Marketing Meeting

Tech Billionaires, “Moral Cowardice,” MH Industry, and National Impact

Tech Billionaires, “Moral Cowardice,” MH Industry, and National Impact

 

Sunday 8.19.2018

Manufactured Housing, Profitable Education, Straw Men, Red Herrings, and Ad Hominems – Sunday Morning Weekly Recap, MH Headline Reports and News in Review Aug 12 to Aug 19, 2018

Manufactured Housing, Profitable Education, Straw Men, Red Herrings, and Ad Hominems – Sunday Morning Weekly Recap, MH Headline Reports and News in Review Aug 12 to Aug 19, 2018

 

And that’s all she wrote, with some help from that other guy, during the week that was. Sign up for our industry’s most popular headline news, at the link below. Watch for the most new reports that this industry offers anywhere, all right here, during the upcoming week. “That’s News Through the Lens of Factory Built Housing,” © where “We Provide, You Decide.” © ## (Headline news in review, analysis and commentary.)

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SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

 

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Sunday Morning Manufactured Home Industry Research, Reports, Headline News Recap 7.1.2018 to 7.8.2018

July 8th, 2018 Comments off

SundayMorningManufacturedHousingIndusryNewRecapMHProNewsLogoDaliyBusinessNewsMHProNews7.1.2018to7.8.2018

What are
Tim, Kevin, Joe, Keith, David, Ross, Mike, Sam
and Others in MHVille Reading?

 

They and other big names in our factory-built housing industry are reading what you find here on MHProNews.

That’s a fact.

Who says?

Unsolicited reports from third parties – rephrased, that means from within their own circle of influence.

We’re told that there are also people assigned and/or who volunteer to read here what we publish.  They in turn can report back to some of those same well-known industry folks.

WhatAreTimeKevinJoeKeithDavidRossMikeSamOthersinManufacturedHomeIndustryReadingMHProNewss

Interesting, isn’t it?  A form of high – if faint – praise?

  • Investors,
    researchers,
    media,
    public officials,
  • plus industry professionals by the thousands,

and gents like those named at the top are among the cross-section of readers that invest their time reading here on MHProNews.

No more need be said today, as we dive into the headlines on news, research, reports, analysis, and commentary found exclusively here on MHProNews.  So,with no further adieu, let’s start with…

 

What’s New on MHLivingNews

MHLivingNewsImprovedLivingForLe$$taglinedropshadow

Achieving the American Dream, with Quality, Appealing, Affordable Home Ownership

 

What’s New on the Cutting Edge

Savvy Stealth Marketing – and “Product Placement” Storytelling

Savvy Stealth Marketing – and “Product Placement” Storytelling

 

What’s New on the Masthead

Profits, Understanding Human Events, and Manufactured Housing

Profits, Understanding Human Events, and Manufactured Housing

 

What’s New on the Daily Business News

DailyBusinessNewsLogoMHProNewsLogo

Saturday 7.7.2018


Container Houses for Under $40,000, Transported by Flatbed, Construction, LifeStyle Videos

Container Houses for Under $40,000, Transported by Flatbed, Construction, LifeStyle Videos

 

Friday 7.6.2018

Record Employment, Rising Popularity, Plus Manufactured Housing Industry Connected Stocks, Evening Market Report

Manufactured Home Shipments, State by State Breakdown, May 2018 Official HUD Data

Manufactured Home Shipments, State by State Breakdown, May 2018 Official HUD Data

Manufactured Housing F&I Association Division Chairman Dies

Sale of $172 Million Manufactured Home Community Portfolio Completed

Sale of $172 Million Manufactured Home Community Portfolio Completed

 

Thursday 7.5.2018

On Eve of Tariffs, China Has World’s Worst Market, Plus MH Market Updates

On Eve of Tariffs, China Has World’s Worst Market, Plus MH Market Updates

“Why Advocates Need to Rethink Manufactured Home Quality,” Harvard, GSE, Genz, “High Satisfaction”

“Why Advocates Need to Rethink Manufactured Home Quality,” Harvard, GSE, Genz, “High Satisfaction”

Manufactured Home Industry Shipment Growth Parallels Strong Trump Economy, Pending HUD Regulatory Review

“Last Call” 2018 RV/MH Hall of Fame Induction Dinner

 

 

Wednesday 7.4.2018

“Challenges to Obtaining Manufactured Home Financing,” Urban Institute Report Fact Check, Analysis

“Challenges to Obtaining Manufactured Home Financing,” Urban Institute Report Fact Check, Analysis

For Businesses and Professionals, “It’s About the Benjamins,” Workers Agree, and Manufactured Housing Progress

For Businesses and Professionals, “It’s About the Benjamins,” Workers Agree, and Manufactured Housing Progress

The Fourth of July is not about Barbecues, or Fireworks, It’s About This – Stossel

The Fourth of July is not about Barbecues, or Fireworks, It’s About This – Stossel

The American Dream, Manufactured Homes, and America’s Independence Day

 

Tuesday 7.3.2018

On the Eve of Independence Day, from July 4, 1776 to Today

U.S. Senator Ted Cruz – El Chapo Plan, Video Interview, Plus Manufactured Housing Market Update$

U.S. Senator Ted Cruz – El Chapo Plan, Video Interview, Plus Manufactured Housing Market Update$

Affordable Housing, Subsidized Housing, Manufactured Homes, Private Property, and Proclaiming Liberty

Affordable Housing, Subsidized Housing, Manufactured Homes, Private Property, and Proclaiming Liberty

HUD Code Manufactured Home Production Report, May 2018, State-by-State Total

HUD Code Manufactured Home Production Report, May 2018, State-by-State Total

 

Monday 7.2.018

Super Model, Entrepreneur Kathy Ireland Dives into “Affordable Housing,” PreFab Construction

Super Model, Entrepreneur Kathy Ireland Dives into “Affordable Housing,” PreFab Construction

#WalkAway Goes Viral, Threatens Disruption, Plus Manufactured Housing Market Updates

Follow the Money – 100s of Immigration Protests, MoveOn, George Soros, The Border, Mexico’s AMLO, and Manufactured Housing

Follow the Money – 100s of Immigration Protests, MoveOn, George Soros, The Border, Mexico’s AMLO, and Manufactured Housing

Wheat, Chaff, and the Monday Morning Manufactured Housing Sales, Marketing Meeting

Wheat, Chaff, and the Monday Morning Manufactured Housing Sales, Marketing Meeting

 

Sunday 7.1.2018

Sunday Morning Manufactured Home Industry Research, Reports, Headline News Recap 6.24.2018 to 7.1.2018

Sunday Morning Manufactured Home Industry Research, Reports, Headline News Recap 6.24.2018 to 7.1.2018

 

And that’s all she wrote, with a little help from that fine fellow nearby, during the week that was. That’s “News through the lens of manufactured housing.” © ## (Headline news, week in review, recap, analysis, commentary.)

(Third party images, content are provided under fair use guidelines.)

1) To sign up in seconds for our MH Industry leading emailed news updates, click here.EmailedMHProNewsHeadlineNewsDailyBusinessNews

2) To provide a News Tips and/or Commentary, click the link to the left. Please note if comments are on-or-off the record, thank you.

3) Marketing, Web, Video, Consulting, Recruiting and Training Resources

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

 

Sunday Morning Manufactured Home Industry Research, Reports, Headline News Recap 6.24.2018 to 7.1.2018

July 1st, 2018 Comments off

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There is no question that Dinesh D’Souza is a partisan.

 

There is also no doubt that D’Souza was pardoned for his minor offense during the Obama Administration by the new occupant of the White House.

DeathofaNationVideoPreviewDineshD'SouzaMovieTrailerMobileManufacturedHousingIndustryDailyBusinessNewsMHProNews

The question that those on both sides of the left-right partisan divide should ask themselves is this.

Is D’Souza’s movie premise correct?

Or are his points mere theatrics?

Having gone to the theater, as well as purchased prior D’Souza videos, we can only speak to his prior work with first hand authority.

His prior movie hits were:

  • thought provoking,
  • entertaining, and
  • fact-based, meaning, historically grounded.
  • One ranked as the number 2 political docudrama of all time.

D’Souza’s films2016: Obama’s America and America: Imagine A World Without Her, are respectively the #2 and #6 highest political documentaries of all time. D’Souza’s latest feature-length filmHillary’s America, is widely credited with contributing to Hillary Clinton’s defeat in 2016, and quickly joined his first two films in the top 10 political documentaries of all time,” says his website.

Meaning, there’s broad appeal to his movies, because they are well done.  Watch the video of his movie’s “trailer,” and you’ll get the feel for him.

Some believe that Americans should ignore what divides the nation or our industry. There is an argument to be made for that viewpoint.

But others believe that a house divided can’t long stand.   Abraham Lincoln took that view, and risked a civil war to unite a divided nation.

That should suggest that on a range of issues, Americans and industry professionals ought to seek to engage in civilized discourse.  Why wait until open violence breaks out?

Come let us reason together.” Reads a plaque behind the desk of former Arkansas Governor and modular mansion resident, Mike Huckabee. It’s a quote from the Good Book.

Our industry has a case to be made. It sounds counter-intuitive to most marketers. But the case that must be offered to the public needs more than looks and emotion.  It must have evidence-based reason. The research shows that’s true. That’s our consulting operation’s experience as well.

Tony has said time and again, that if pretty pictures, slick videos or even 3D tech was all that was needed to grow the industry, then manufactured housing would already be selling 500,000 to 1,000,000 (+/-) new HUD Code manufactured homes per year.

Modular home sales would be on top of that total.

ManufacturedHomeShipmentsVsNewExistingHomeSalesStaartsManufacturedHouisngIndustryDailyBusinessNEwsMHPronews

Facts are facts. They are neutral measures of reality. Once facts and their causes are understood, then the opportunities can be tapped. What the above means is that the typical retailer could potentially be selling 10x (+/-) more homes in a typical market

 

IfPrettyPicturesVideosAloneWereEnoughMHIndustryWillOnlyAchieveItsGoalsByResovingItsCoreIssuesLATonyKovachMHProNews1

Learn more about the above, linked here.

Evidence and logic – with appeal that is well presented – are what millions of home seekers need to buy into the manufactured housing industry’s rebirth.

The same is needed to avoid the death of our nation’s Republic.

As we approach July 4th, our country’s glorious Independence Day, let’s recall that Freedom is never free.

With no further adieu, let’s dive into the headlines that link news, inspiration, commentary, and reports.

 

What’s New on the Masthead…

Life, Liberty, Property – Supreme Court – and Manufactured Housing

Life, Liberty, Property – Supreme Court – and Manufactured Housing

What’s New on the Daily Business News on MHProNews.com…

 

Saturday 6.30.2018

I Hate Politics!” – Bedminster Watch, and Manufactured Housing Shipments

“I Hate Politics!” – Bedminster Watch, and Manufactured Housing Shipments

 

Friday 6.29.2018 

POTUS Trump Announces SoftBank Boosting U.S. Investments by Billions, Details, Plus MH Market Updates

Associated Builder’s President Michael Bellaman says How Congress Can Keep Momentum Going

Manufactured Home Industry Board Member Surrenders to Cancer, R.I.P.

Manufactured Home Industry Board Member Surrenders to Cancer, R.I.P.

Billion Dollar Startup Modular Builder, Using Robotics, Could Soon Rival Clayton Homes’ Total Sales

Billion Dollar Startup Modular Builder, Using Robotics, Could Soon Rival Clayton Homes’ Total Sales

 

Thursday 6.28.2018

People are “Creatures of Habit,” Says New Study, Valuable Manufactured Housing Industry Professional Insights

People are “Creatures of Habit,” Says New Study, Valuable Manufactured Housing Industry Professional Insights

Move Over Saudi Arabia? Latest U.S. Oil Production, plus Manufactured Housing Market Updates  

Harvard’s Joint Center for Housing Studies 2018 – Affordability, Manufactured Homes, and Modular Housing Report

Harvard’s Joint Center for Housing Studies 2018 – Affordability, Manufactured Homes, and Modular Housing Report

Manufactured Housing Program Review Addressed by HUD Secretary Carson during Oversight Hearing

Manufactured Housing Program Review Addressed by HUD Secretary Carson during Oversight Hearing

 

Wednesday 6.27.2018

Bloomberg’s World’s 25 Richest Families Net Worth Tops $1 Trillion, List, Plus MH Market Updates

Salena Zito Tweet Wakeup on Recent High Court Rulings, Touts the “Great Revolt,” SCOTUS Kennedy Shakeup

Salena Zito Tweet Wakeup on Recent High Court Rulings, Touts the “Great Revolt,” SCOTUS Kennedy Shakeup

Billions in American Cash Flowing Back to U.S., Repartition Yields Capital for Manufactured Housing or Other Projects

Billions in American Cash Flowing Back to U.S., Repartition Yields Capital for Manufactured Housing or Other Projects

New High Mortgage Rates, Latest Core-Logic Housing Price Data

 

 

Tuesday 6.26.208 

Warren Buffett Strikes Deal with Lee to Manage Berkshire Units, plus MH Market Updates

Warren Buffett Strikes Deal with Lee to Manage Berkshire Units, plus MH Market Updates

New Manufactured Home Industry National Association Related Statements

New Manufactured Home Industry National Association Related Statements

Barack Obama, Maxine Waters, President Donald J. Trump, Amway, and Manufactured Housing

Barack Obama, Maxine Waters, President Donald J. Trump, Amway, and Manufactured Housing

HUD Approves Additional $5 Billion Disaster Recovery Plan

 

Monday 6.25.2018 

How US Stocks Compare with Other Nations in Trade Wars? Plus MH Market Updates

Manufactured Home Community Owners Lost Troubling Creekside Appeals Case

Manufactured Home Community Owners Lost Troubling Creekside Appeals Case

What’s Your Location’s Potential? Monday Morning Manufactured Housing Marketing Sales Meeting

What’s Your Location’s Potential? Monday Morning Manufactured Housing Marketing Sales Meeting

What “Made in Space” Housing Plans Should Tell Manufactured Housing Industry Professionals

What “Made in Space” Housing Plans Should Tell Manufactured Housing Industry Professionals

 

Sunday 6.24.2018 

Sunday Morning Manufactured Home Industry Research, Reports, Headline News Recap 6.17.2018 to 6.24.2018

Sunday Morning Manufactured Home Industry Research, Reports, Headline News Recap 6.17.2018 to 6.24.2018

 

And that’s all she wrote, with a little help from that fine fellow nearby, during the week that was. That’s “News through the lens of manufactured housing.” © ## (Headline news, week in review, recap, analysis, commentary.)

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SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.