Posts Tagged ‘spite’

High Demand for Manufactured Homes in Manitoba, but limited spaces in MH Communities

August 23rd, 2013 Comments off

credit-cbc-news-Demand for Canada’s version of manufactured housing is rising rapidly in Manitoba, at the very time spaces in provincial land lease communities are scarce. With single family home sales in the region averaging $285,000, a new manufactured home in Manitoba for $115,000 looks very reasonable. So it is no surprise that sales rose 11% in 2012 over 2012, and sales are up some 20% in 2013 over 2012. However, the sad reality of the impact of rent control measures are playing out here in a dramatic fashion. Manufactured home community (MHC) owners are limited in their options for development due to laws that place a 1% annual caps on rate increases. Choking off return on investment options for MHC owners causes some to sell their property for other uses, which then displaces residents who are unable to find a space in another land lease MH Community. One such community is Kingsway Kort in Brandon, where resident Colleen Weisbrodt is one of 140 households forced to move due to the park’s closure. Weisbrodt can’t find a vacancy in another community, which Glendale MHC owner Kenny Choy, explains to CBC News is common. Choy’s community has 230 home sites on 30 acres of land and has been full for 10 years. Current law creates disincentives to develop, in spite of the market demand for affordable manufactured homes. ##

(Video credit: CBC news)

Sen. Donnelly to Help Find Non-Career Administrator

June 10th, 2013 Comments off

The Manufactured Housing Institute (MHI) informs MHProNews leaders from MHI and the Manufactured Housing Association for Regulatory Reform (MHARR) met with Sen. Joe Donnelly (D-IN) seeking assistance for the appointment of a Non-Career Administrator for HUD’s Manufactured Housing Program. In spite of the industry’s efforts to have the position filled by someone who would be assertive in support of the industry, the post has been vacant for a number of years. In the meeting May 22, Sen. Donnelly said he would assist in this effort.

(Photo credit: MHProNews–Sen. Joe Donnelly))

30-Year FRM Drops Again

June 13th, 2012 Comments off

HousingWire tells Zillow reports the 30-year fixed rate mortgage (FRM) dropped three basis points from 3.59 percent last week to 3.56 percent. The rate for a 15-year FRM hit 2.95 percent, while a 5-1 adjustable-rate mortgage (ARM) landed at 2.68 percent. Zillow Mortgage Marketplace Director Erin Lantz said she anticipates the record low interest rates to stabilize this week in spite of the proposed bailout of the Spanish banking system. However, she said there may be some movement after this weekend’s elections in Greece.

(Image credit: hansafx)