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Posts Tagged ‘dodd’

Financing in the CFPB Era and the Path to Full Manufactured Home Communities

June 24th, 2014 No comments

Tony,

Great articles and comments made by others. 

I agree with 99% of what is said. The issues I see our industry has are: 

  1. People are so scared of the Dodd-Frank and Safe Act. Our industry needs to deal with this as the new reality and figuring out how to do business with these new regulations. 
  2. Lenders and community owners getting together on a win-win community home financing program that requires community owners to repurchase the homes that default and requires the lenders to originate loans at lower rates. 
  3. Community owners making their communities more appealing to today’s buyer:
    1. Updating their community amenities (Signage, clubhouse paint and carpet, pool furniture, road repairs, etc.)
    2. Enforcing communities rules to ensure that all homes are maintained and clean and neat
    3. Finding ways to improve the community lifestyle by organizing community events that enrich the residents lives.
    4. Moving in new homes and having 2 or more fully decorated models that will help prospects visualize how nice a manufactured home can be.
  4. Community owners should NOT jump into the rental home model so fast. Many markets can support true home sales business model by offering financing options that make sense to their customers. This does take more work but the full community with home OWNERS rather then renters is worth the extra work. 
  5. Community owners offering outside retailers attractive move in programs. 

We have implemented this in all our communities and are selling anywhere from 30-100 homes per community per year. 

Thanks for sharing this article. ##

scott-roberts-roberts-resorts-posted-industry-voices-guest-blog-mhpronews-com-Scott Roberts
Chief Executive Officer
Roberts Resorts
8350 E. Raintree DR. Ste 220
Scottsdale, AZ 85260
480.425.8696

scott-roberts-roberts-resorts-posted-industry-voices-guest-blog-mhpronews-com-(Editor's Note: The articles Scott's letter to the editor refers to are ones by Ross Kinzler and Jay Hamilton.

For those who may not have met Scott or know the progressive work being done in his communities, Scott was the recipient of the Manufactured Housing Institute's “Community of the Year” at the 2014 Congress and Expo.

The head shot above is actually part of a larger photo, that shows him holding his Community of the Year award.)

MHGrassroots: A Call to Action

June 17th, 2014 No comments

As I sit comfortably in a 737 at 30000 feet coming back from a thought provoking meeting at the MHI Expo in Las Vegas I don't have to go in great detail on how the world has changed since 2001.

From how we fly, how we communicate, and even how we conduct business, it has all changed in ways none of us truly imagined then.

Every day I read more about how a government I have grown up loving, is making changes that contradict the core beliefs and attributes it was built upon. With that said, let's look at a few issues that have faced, primarily as it relates to the manufactured home market in the past 15 years.

In Texas we were asleep at the wheel in 2001 when House Bill 1869 took effect. I was but one of the many independent dealers who were wondering how this could have happened. I even looked Gov. Rick Perry in the eye and told him point blank that this bill would cost Texans jobs and would reduce home order sales, which in turn would force the closing of several fine manufacturing plants.

Unfortunately I and those around me were right. Even though the TMHA through a lot of hard work was able to have this poor piece of legislature repealed in 2003, the damage was already done.

I won't go into the specifics of the law itself, but I will say it was a killer from day one. If you have any questions about it, just Google it. I have heard the experts’ state that 85% of the independents who were in the market at that time were wiped out by this law and the recession that hit us in 2008. And guess what. Those folks are gone, probably never to return again.

So let's take a look at where the train came off the tracks.

We were too late to stop one train simply because we weren’t aware it was heading for the station.

If we want to be successful in the legislative arena we have to stop the bills before they get that close to the tracks. We, the industry as a whole, must be vigilant in being aware of any laws, in every city, county, state and federal arena that could negatively impact not only us, but the people around us.

This means we have to know, and have a relationship with, the people in charge. Governor Perry signed that bill even after I told him the truth. Why? Simple, he didn't know me from Adam. No relationship equals no traction. We have to build those relationships in order for our voices to not only be heard but to be accredited.

How was it fixed? A grassroots effort. From the ground up. TMHA called upon every member….who in turn called on every state senator and state representative to repeal a bad piece of legislation. And it worked! Why? Because the industry stood up as a whole, and worked together for the common good of all. I call this a victory for the good guys.

Let's look at another victory.

Last year I received a phone call from a landlord who was my ‘competitor’ in Plainview, Texas. I use that word competitor only because we are after the same pool of customers. I call him a friend.

Basically this city was in the process of creating a city ordinance which would require an inspection on every rental inside the city once it was vacated by a tenant. Never mind the fact that this would be in direct contradiction to the HUD code on a manufactured home. Every house, apartment, and mobile home would have to be brought back to current code if this law passed.

This would mean thousands of dollars spent to update every unit.

One unintended consequence of this law would have forced the citizens to pay rent in excess of three times the current rate.

Another would have riddled the city with homes to be demolished due to the repair cost being more then the value of the home.

Yet another would have been a mass exodus of good paying tenants to the surrounding communities which didn't have this law.

So how did we stop this calamity before it was passed like Texas House Bill 1869?

We showed up in droves. There was standing room only at every hearing. Meetings with every city official we could get and we killed it before it could even be heard by city council. How? It took one phone call from each of us who took the time to make that call. And another victory ensued.

So what does all this mean to you, the reader?

It's time. It is time to make a difference and make a call of your own.

I know you are busy, but don't blow this one off.

Dodd Frank and the SAFE Act are not going away. So what are you going to do? I am calling not only those of us in the industry, but all of us.

The government doesn't need us, but this country does. We are this country's answer to affordable housing. But if the people can't get financing for that home what good are we to them?

If you don't know who to call that's ok. Call your state association. If you are not a member, sign up. If you are a member, get active. Make a difference. You can. ##

shawn-fuller-d-r-housing-new-deal-texas-industry-voices-manufactured-housing-mhpronews-com-75x75-Shawn Fuller
D & R Housing, LLC.
New Deal, TX 79350

Who’s in Charge Here?

June 3rd, 2014 No comments

Rick Rand’s excellent proposal for an all-industry conclave at a neutral location is gathering momentum. Such a venue should certainly not screen out the smaller operators who have always been a prime source of innovation, and it is vitally important that the “big guys” also be at the table. Make room for the various associations charged with the thankless task of placating the placating the industry’s many voices.

As a long-retired veteran of manufactured housing, I’m appalled at the conflicts, back-biting and lack of leadership that has always hamstrung our young industry. It was understandable in the early days when the largest manufacturers controlled less than ten percent of shipments and no other industry constituent was in a position make things happen beyond his own company (in those days, the leading players were all men).

Today, though manufactured housing is a shadow of its former self, the product itself is far better, the need for affordable housing is far greater, the leading manufacturers remain profitable, the market for manufactured housing communities is heating up and the stick competition is in disarray. So why are our sales volumes in the dumper?

It is true of course that we, as an industry, have made many mistakes. And we’ll make more.

In a free enterprise system, we learn from our mistakes and keep moving forward. That’s exactly what needs to happen at the kind of meeting Rick has proposed. Pull the tribe together with an agenda focused on the problems we’ve created, the opportunities ahead and agree upon a broad based strategy to deal with today’s challenges. Ideas and innovations are often sparked over a cup of coffee or glass of beer, and contacts have always been the lifeblood of the industry.

But far more is needed than griping about Dodd-Frank and what names we should use for our products. Consider some fundamentals.

Housing is one of America’s least efficient industries. That includes stick builders and us too. Why is that? Well, there’s no serious foreign or domestic competition, no real industry leadership, way too much regulation and negligible innovation. That’s been the case for a hundred years.

Academics and all sorts of advanced thinkers have, for at least that long, looked to industrializing the building process to break out of housing’s quagmire. It has finally happened. The industry we now call manufactured housing has demonstrated the ability to build good housing at roughly half the cost of traditional methods, and we have the black eyes to prove it.

As one result, America’s largest home builder is one of us, and one of the world’s richest men bankrolls MH financing. Something like 20 million Americans live in homes we’ve built and the vast majority of them appreciate the comfort and value those homes provide. There’s ever so much more that could and should be done, but we’ve made a better start than any other tilter at housing’s windmills. Many have tried.

One thing the MH industry agreed upon some 40 years ago was to unite under the HUD banner. That turned out to be a painful process with about as many negative as positive outcomes. We banded together again to reform that process with the Manufactured Housing Improvement Act of 2000 (MHIA 2000), but guess what? Big Brother has its own ideas about “Improvement” which do not include a lot of use for industry committee input.

We’ve got a lot going for us, and yet the squabbles continue. If there’s an industry strategy, it did not emerge from my recent research. What is happening is a plethora of tactics, put forward under various banners, mostly going nowhere.

As an industry professional, you can put forward some ideas for how to deal with these challenges. So can I, and I’ve done so in my recent book, Dueling Curves. It’s not enough.

Maybe at Rick’s gathering of the tribes, some sort of consensus can be reached, on a whole bunch of nifty ideas.

But that’s not enough either.

The single most important objective of such a congress—or whatever it’s to be called—should be to the emergence of industry leadership. Not a task force, committee or agency, but a person of vision who commands the respect of the industry.

A tribal chief who can weave the disparate strengths of the manufacturers, suppliers, financiers, retailers, MH owners and community operators into a strategy we can all salute. Oh well, yes, there will always be a few curmudgeons. No one will be entirely happy with any strategic vision adequate to unite us; not even the leader who ultimately propounds it.

But let me suggest this. Should we fail to unite behind competent leadership, I can suggest who will become take charge of the industry. Well, maybe I shouldn’t name names, but the initials are H.U.D. ##

bob-vahsholtz-author-dueling-curves-battle-for-housing-posted-industry-voices-guest-blog-mhpronews-com-manufatured-housing-professional-news-75x75-Bob Vahsholtz is the author of DUELING CURVES The Battle for Housing Bob can be reached at kingmidgetswest@gmail.com. Web: www.kingmidgetswest.com

You Might Be a Redneck!

December 12th, 2013 No comments

You might be a redneck if: It never occurred to you to
be offended by the phrase, 'One nation, under God..'

You might be a redneck if: You've never protested about seeing
the 10 Commandments posted in public places.

You might be a redneck if: You still say ' Christmas'
instead of 'Winter Festival.'

You might be a redneck if: You bow your head when
someone prays.

You might be a redneck if: You stand and place your
hand over your heart when they play the National Anthem

You might be a redneck if: You treat our armed forces
veterans with great respect, and always have.

You might be a redneck if: You've never burned an
American flag, nor intend to.

You might be a redneck if: You know what you believe
and you aren't afraid to say so, no matter who is listening.

You might be a redneck if: You respect your elders and
raised your kids to do the same.

You might be a redneck if: You'd give your last dollar to
a friend.

You might be a redneck if you are tired of government overreach, such as ObamaCare, Dodd-Frank, the SAFE Act, CFPB and an alphabet soup of federal agencies that want to throttle our businesses or run our personal lives.

You might be a redneck if you've read this far, and you've nodded in agreement more than half the time. When I read some of the above from an article that had no author's name, and I added the last ones which impact manufactured housing home owners, professionals and the rest of our country too.

God Bless America! ##
Submitted by Larry Hahn

Leading the Charge: The Back Story on S. 3484

August 8th, 2012 No comments

tim-williams-ohio-manufactured-home-association-mhpronewsWhen you get a key piece of federal legislation sponsored in the U.S. Sentate, how does that happen? We asked Tim Williams to answer that question, and here is what he told us in his own words.

“First and foremost Nathan Smith is the game changer (with the credibility and relationship) who advocated and led the industry effort with the assistance of MHI. Nathan, myself, Tim Williams of 21st and MHI’s Jason Boehlert as well as several other MHI key finance members initially met with Senator Brown in January regarding the industry’s concerns with Dodd/Frank. Nathan did a great job debriefing the Senator and his staff on the issue and encouraging  legislative consideration. It was clear Senator Brown had a good understanding and sincere interest in the issue and our industry even before the meeting started.

I was able to discuss Ohio’s strong MH Commission’s role in consumer protection under the industry led independent Ohio MH Commission (6 of 9 commissioners must be appointed per a list nominated by OMHA per Ohio  law). Senator Brown was very interested in the industry, our consumer and their protections under the Ohio Commission including the fact that 100% of all homes are inspected during three critical phases of the  installation process in Ohio. He asked many questions regarding Ohio law, demographics and industry businesses as well as the jobs aspect of our economic impact in Ohio and nationally. He was clearly engaged with us on the issue.

Tim Williams of 21st was able to succinctly condense a rather complicated issue in to an understandable dynamic all could grasp and wrap our heads around. Tim’s ability to take the issue down to its basic components was very helpful in demonstrating the practical  challenges facing the ability to finance Ohioans in to affordable manufactured home ownership. I am very appreciative of Tim and 21st Mortgage's leadership on the Dood/Frank  concerns and believe his impact on the legislative aspect of all of this is probably underestimated but nonetheless critical to our success.

I personally appreciate the effort Senator Brown demonstrated in understanding our industry and concerns as well as to brief us on the legislative dynamics of the issue. I encourage all industry members to thank Senator Brown and express support to his office in any appropriate manner.  He stood up for our consumers and industry on a challenging issue regardless of the pressures he faces in an election year.

tim-williams-ohio-manufactured-home-association-mhpronewsTim Williams
 Executive Vice President
 Ohio Manufactured Homes Association
twilliams@omha-usa.org
 O:614-799-2340
 F:614-799-0616

Putting the Qualified Mortgage Dilemma in Perspective

July 19th, 2012 4 comments

Ronnie Richards MHProNewsThe Dodd–Frank Wall Street Reform and Consumer Protection Act was signed into law by President Obama on July 21, 2010. The Act implements financial reform sponsored by the Democratically controlled 111th United States Congress and the Obama administration. Passed as a response to the late-2000s recession, the Act is bringing the most significant changes to financial regulation in the United States since the reform that followed the Great Depression. The biggest threat to the manufactured housing industry and the Texas Manufactured Housing Association is the impact the new more stringent regulations might have on loans under $50,000.

I did some research using sales data available on the Texas Department of Housing and Community Affairs Manufactured Housing Division (TDHCA MH) web site and the Statistical Surveys data my company subscribes to and it confirmed my concerns. According to TDHCA MH data, single section homes comprised 60% of new home retail sales for the five months ending May 31, 2012.

When I ran a retail selling price analysis in Statistical Surveys for the three months ending March 31, 2012, the most recent period available, I found that 92% of all single sections sold at retail had a selling price of $55,000 or less and 7% of multi-sections fell into that bracket. There were 1097 new home single section sales with lender liens titled as personal property (chattel loans) during the first five months of 2012.

Assuming 93% fall below a $55,000 sales price which with a 10% down payment would mean a loan balance of $50,000 or less, 1020 single section homes and 71 multi-section homes would be affected by the new regulations. That is 27% of all new HUD Code sales and 52% of all personal property financed sales.

I don’t need to tell you how that could affect our industry.

Just the manufacturer dues revenue which accounts for approximately 75% of TMHA revenue would decline by 27%. There are sixteen active HUD Code plants in Texas and if you assume a workforce of 150 at each of these plants a reduction in production could result in 648 Texans losing their jobs and that doesn’t even take into consideration the 55 active licensed out of state plants.

Texas currently has 747 active Retailer license holders and 1002 active licensed Retail Sales license holders. Based on a 27% reduction in sales due to the impact of the new regulation, we could see a reduction by 202 retail outlets and 271 retail sales licensees respectively. In total not even counting lenders, contractors, suppliers and so forth we might face a loss of 1120 jobs in our core member group.

The other impact which is difficult to measure is the new regulations could add significant barriers to affordable home ownership with no alternative housing options. There could be a an annual reduction in new HUD Code manufactured housing sales in Texas of 2650 units based on the current run rate if loans of $50,000 and less are highly regulated. Current manufactured home owners wishing to sell their home will find it very difficult to get financing for their buyers under the new regulations.

We can’t let this happen. MHI, TMHA and other interested parties are taking steps to educate those writing the regulations at the federal level about our industry and its unique financing model. The outcome is not guaranteed but at least we are attempting to influence the rule writing and not just sitting on the sidelines.

If you want to learn more about this and a broad range of other industry topics you should consider attending the Annual Convention of the Texas Manufactured Housing Association in Houston August 20th and 21st. You can learn more about all the business building and informational seminars linked at this site. It’s easy to register online at TexasMHA.com or call the TMHA office at 512-459-1221. All are welcome. ##

Ronnie Richards MHProNewsRonnie Richards is the Chairman of the Texas Manufactured Housing Association and Vice President of Marketing for American Homestar Corporation headquartered in League City, Texas.

Retail Sales Trend Up Despite New, Looming Threat

May 25th, 2012 1 comment

According to Statistical Surveys, a provider of objective industry data, Texas' new manufactured home retail sales were up 29 percent for the three months ending March 31 over the same period last year. This follows on the heels of a flat Q4 2011 when compared with Q4 2010. Texas also ranks first in national shipments to retailers through March 2012 with a 20 percent share, and number one in units produced with a 27 percent share according to the latest MHI Monthly Economic Report for March 2012. 

While great news for the industry, an ominous threat lies ahead as the young Consumer Financial Protection Bureau (CFPB) begins rule writing for implementing Dodd-Frank and the S.A.F.E. Act.

On behalf of the membership, the TMHA Board approved taking an active part in the federal arena, where this will all play out, at our May 18 Third Quarter Board Meeting. 

I have been in the industry 43 years – the spectrum of consequences we face from this new regulation is something never witnessed.   

 

Some examples:

  • New rules could potentially force lenders to discontinue making lower balance loans such as what we typically see for single section home-only loans, and result in an exit of lenders.
    • One of the largest industry lenders estimates 40 percent of their loan volume is under this threshold.
  • These new federal rules would also certainly impact retailers, manufacturers and communities.
    • While MHI introduced an industry-supported bill in Congress (HR 3849) to reduce regulatory burdens that impede access to affordable manufactured housing financing, the likelihood of this passing anytime soon if at all in our deadlocked Congress is slim.
      • We have been told this directly by those that should know and have extensive knowledge of the current national legislative climate.

 

Experience has shown it's much easier to influence the writing of a new rule than it is to change a rule once it's written. TMHA is not going to sit on the sidelines to see what happens.

 

We want an industry voice to be heard.
 

Your association has several key resources that, if combined with that of MHI, fellow state associations and industry members, will see that manufactured housing has direct input in the federal rule writing process:

  1. First, our large, informed and dedicated member base understands the dynamics of our business model and that it relies heavily on portfolio lenders.
    • While mortgage lenders in the traditional housing market produce loans, sell the servicing to another party and look to the government through Fannie Mae or Freddie Mac to take the risk of loss, our lenders do none of that.
    • MH lenders originate loans, service their loans and take the hit on any loss.
      • This requires different loan pricing, fees and loan origination systems than previously envisioned by those writing the new federal laws and most likely the officials charged with writing the rules.
  2. Secondly, our seasoned board and Executive Director DJ Pendleton will give us a voice in this process.
    • DJ brings a strong academic and professional background as an attorney coupled with industry experience, allowing him to understand the new laws, rule writing process and nuances of guiding the consultants we will require to help ensure the industry is heard.

Finally, through conservative fiscal policy, financial support from members over the years and God Bless our Texas economy, TMHA has the financial resources to commit in coordination with others to support this effort in D.C. While no one can guarantee our success, we will at the very least have a voice at the table.

 

Sincerely,

 

Ronnie Richards
Chairman
Texas Manufactured Housing Association

Preserving Access to Manufactured Housing

April 24th, 2012 4 comments

The manufactured housing industry has been confronted with the most serious challenge to its existence in its history in the form of the Dodd-Frank bill. Supporters of the bill failed to take into consideration that, as written, the Dodd Frank bill effectively eliminates chattel (home-only) financing for loans under approximately $78,000. The bill essentially lumps chattel lending criteria in with the same real estate lending restrictions, thus ignoring the higher cost of funds for home-only loans. As the loan amount declines, and the higher cost of funds plus the fixed costs of making a loan effectively kick home-only loans into the predatory lending category once the loan amount hits some $78,000.

H.R. 3849 is a proposed bill that has been introduced into the House of Representatives by Indiana's Congressman Joe Donnelly and Tennessee's Congressman Stephen Fincher. The bill is aptly titled the Preserving Access to Manufactured Housing ActIn addition to limiting the impact on manufactured chattel loans from the restrictions described above that were introduced by the Dodd-Frank bill, the proposed H.R. 3849 would exempt manufactured housing salespeople that are not deriving income from the proposed financing the salesperson is trying to arrange.

Oklahoma was the second state after Mississippi to have its entire congressional delegation signed on as co-sponsors of HR 3849. I was able to help secure the backing of Oklahoma's congressional delegation through meetings with either each of our congressmen, or with their staff member with responsibility for housing issues. The following points were helpful in securing their support:

  • Manufactured housing is not only the most affordable housing available in the United States, our production capabilities are the most efficient in the world for the production of entry level housing.
  • The manufactured housing industry although monitored by HUD, is self-funded through label fee payments to HUD. How many functions of the federal government have no financial drain on the government's resources?
  • Failure to act will eliminate the financing options for all potential purchasers in the very lowest economic sector of our market, those people trying to purchase homes under $78,000. Our industry's average loan is $58,000. The single-wide market would essentially be destroyed.
  • Failure to act will eliminate all financing options for about half of the existing 8.8 million manufactured home owners who may try to sell their homes, so they also have an incentive to contact their congressman and senators.
  • Your congressman should be receptive to our industry's message. You do need to get in front of him or her. Getting to Washington, D.C. may be cost prohibitive, but getting to the congressional offices in each of your home states should be doable.

A pressing need at the moment is to find a Democratic senator to help roll out a senate version of H.R. 3849. Senator Tom Coburn (R, OK) has agreed co-sponsor the bill on the Senate as long as we have a Democratic co-sponsor who has the approval of Senator Harry Reid for the roll out. Please inform me if that occurs and I will inform Senator Coburn. # #

Post submitted by MH Retailer

Doug Gorman

HomeMart, Tulsa, OK

doug@homemart.us

(Editor's Note: the link to the online resources above were added for your convenience. You can find your elected representatives at this link here. You can pass along a free 'third party' resource for manufactured home owners and residents to consider and engage on this issue at this link here. Our thanks to Doug Gorman for the column and for his years of ongoing volunteerism and service in manufactured housing. Others are encouraged to comment or share their own Industry Voices Guest Column about this or other topics of Manufactured Housing Industry interest. You can submit a column by emailing tony@mhmsm.com with the words Industry Voices Guest Column submission in the subject line.)

Post 2012 Tunica Show Industry Perspective

April 5th, 2012 2 comments

The Tunica Show was good! Perfect weather, good number of attendees, good attitudes, and a few lenders wanting to approve new dealer applications: this is all most refreshing! You would think all the gloom and doom is over.

One supplier told me that he had sold over 100 floors as of Thursday evening. Everyone was upbeat.

This industry has still got it – if the government would get out of the way, get their foot off our necks, and allow the financing to take place. It would not only let this industry boom, but the retail boom would cause manufacturing to increase, and all the downstream industries would see their respective businesses increase as well (suppliers, freight companies, delivery/set-up contractors, insurance companies). Even the site-built industry would get a boost from the up tick in economic activity.

Putting all those people back to work would also avoid more foreclosures, reducing the possibility for another round of bailouts.

Many of the bureaucrats don’t seem to understand their “unintended consequences” are killing off an entire industry, in addition to stealing the “American Dream” of home ownership from at least an entire generation of voting constituents! There is some promising activity ongoing toward the modification of the Dodd-Frank dreadnaught, but the results have yet to make it to the street. We’re watching that with great interest.

The bureaucrats aren’t focused on us right now, anyway. The big issues in the Middle East are the buzz in today’s news. I am worried too! If Israel strikes Iran soon (and they will, if/when they feel the need), gasoline will spike. Record prices could push us over the edge.

The White House is trying to negotiate (tough sanctions, tough talk, etc.) with a nation that is by design apt to miss-speak, mis-represent, or outright lie in order to mislead an opponent. How effective will those negotiations be? Only time will tell, especially in light of the President’s family lineage.

Even without a preemptive strike, gas will soon reach $4.80/gal. If Israel does move against Iran, it will surge past $5.00. People are already foregoing vacations, major purchases, medicine, etc, to buy gas to get to work. $5.00/gal gas will create more job losses, lower consumer confidence, a lower GDP that will lead to a lower S&P credit rating for the country, and push us along that slippery slope towards a full-blown depression.

This President doesn’t understand what a tough spot we as a country are in, much less how to fix it. He has spent his time on fundraisers for his re-election campaign. After all, he has his priorities!

The information coming from this administration can be cloudy at times, to be very genteel in my choice of words. They are lying to us about unemployment being 8% – it is closer to 18% when you consider the thousands of under-employed who lost good paying positions and are now having to work one or more minimum wage jobs just to try to make ends meet.

His delay on the Keystone Pipeline (until after the election) is also bogus.

A) The southern portion of the country (Cushing OK to the Gulf Coast) is going forward in spite of Obama. After trying to stop it in Congress – and failing – he then went to Cushing and made a speech claiming he is letting it go forward. Letting it go forward? OH, PLEASE!!!

B) We currently have to ship the oil by train from Canada to Cushing. Guess who owns the railroad? Warren Buffett. (A mere coincidence.)

Romney will be the GOP nominee, and he will have a steep hill to climb to beat Obama. 47% of the people in America pay no taxes – they will vote for him (if they vote). Obama has record amounts of money and the George Soros controlled mainstream media in his pocket. Romney will need lots of help to cleanse the White House. On a bright spot, a recent CNN poll showed more independent voters leaning toward Romney than Obama. (For that fact to even get air play on CNN was big, in my eyes.) You may recall that it was the huge number of independents who voted for Obama in 2008 that tipped the election to Obama’s favor.

If Romney doesn’t make it, we are in deep trouble. We cannot afford another four years of this government.

Without financing, this industry’s retailers cannot survive. Without retailers, manufacturers cannot survive. This stops the suppliers and the other down-line industries associated with us. The lenders I’ve spoken to cite the new raft of legislation – Dodd/Frank, S.A.F.E. Act, etc. – as being too restrictive. “Unintended consequences.” Who is going to fix this mess? It will be you and I, through our own efforts, not this administration! # #

Submitted by

R. C. “Dick” Moore

Dick Moore Housing, Inc.