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HUD Announces Secretary Ben Carson to Chair White House Council on Affordable Housing, Manufactured Housing Getting Attention

June 26th, 2019 No comments

HUDAnnouncesSecBenCarsonChairWhiteCouncilAffordableHousingManufacturedHousingGettingAttentionMHProNews

In a release to the Daily Business News on MHProNews, the Department of Housing and Urban Development (HUD) has said the following. The typo on date and comma error are in their original.

 

HUD No. 19-096
HUD Public Affairs
(202) 708-0685
FOR RELEASE
Tueesday
June 25, 2019

HUD SECRETARY BEN CARSON TO CHAIR WHITE HOUSE COUNCIL ON AFFORDABLE HOUSING

WASHINGTON – Today, President Donald Trump signed an Executive Order establishing the White House Council on Eliminating Barriers to Affordable Housing, and named Housing and Urban Development (HUD) Secretary Ben Carson as its chairperson.

The Council will consist of members across eight Federal agencies and engage with State, local, and tribal leaders across the country to identify and remove the obstacles that impede the production of affordable homes – namely, the enormous price tag that follow burdensome government regulations.

“With the signing of today’s Executive Order, President Trump is prescribing a powerful treatment that correctly diagnoses the source of America’s affordable housing condition: this is a matter of supply and demand, and we have to increase the supply of affordable homes by changing the cost side of the equation,” said Secretary Carson. “Increasing the supply of housing by removing overly burdensome rules and regulations will reduce housing costs, boost economic growth, and provide more Americans with opportunities for economic mobility.”

Research indicates that more than 25% of the cost of a new home is the direct result of Federal, State, and local regulations. For this reason, in recent years, the construction of new multifamily and single-family dwellings has not kept pace with the formation of new households. Census Bureau data indicates that from 2010 to 2016, only seven homes were built for every 10 households formed. As a result, Americans have fewer housing opportunities, including the opportunity to achieve sustainable homeownership, which is the number one builder of wealth for most American families.

To curtail burdensome regulations, the Council will be tasked with accomplishing the following items by January 2021:

  1. Work across agencies, States, local governments, tribal governments, and private-sector stakeholders to identify policies that artificially increase the cost of developing affordable housing.
  2. Report on the quantifiable effect that Federal, State, local, and tribal regulatory barriers have on affordable housing development, the economy, and society.
  3. Take action to reduce Federal regulatory and administrative burdens that discourage private investment and housing development;
  4. Take action within existing Federal programs to align and support local, and tribal state efforts to reduce regulatory and administrative burdens that discourage housing development.
  5. Recommend Federal, State, local, and tribal policies that would:
    • Reduce and streamline statutory, regulatory, and administrative burdens that inhibit the development of affordable housing supply at all levels of government;
    • Incentivize State, local, and tribal governments to reduce barriers to affordable housing development.

###

HUD’s mission is to create strong, sustainable, inclusive communities and quality affordable homes for all.

 

MHProNews report on this topic from 6.25.2019 is linked from the text-image box below, and includes a video with Secretary Carson.

 

President Trump Signs Executive Order on Affordable Housing Crisis, Ray of Light for Manufactured Housing? Plus, Manufactured Home Stock Updates

Thanks for making and keeping us the industry’s most read, your fact- and evidence-driven, most trusted trade news source.  You’ll find more here than anywhere else in MHVille, at the HQ for manufactured home “Industry News, Tips, and Views Pros Can Use,” © where “We Provide, You Decide.” ©. ## (News, fact-checks, analysis, and commentary.)

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsConnect on LinkedIn here. (Related Reports are further below. Third-party images and content are provided under fair use guidelines.)

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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.

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

Submitted 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:

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

MH Community Leader Robert Van Cleef – Public Call – Federal Investigations of Berkshire Hathaway, Clayton Homes, 21st Mortgage, Manufactured Housing Institute

 

MHARRCallsHUDSecretaryCarsonEndDiscriminatoryZoningHUDRegulatedManufacturedHomesCommodoreHomesCorpMHARR

Photo of Commodore Homes model, MHARR logo, are provided under fair use guidelines. See article and letter to Secretary Carson, linked here. https://manufacturedhousingassociationregulatoryreform.org/mharr-calls-on-hud-secretary-to-end-discriminatory-and-exclusionary-zoning-of-hud-regulated-manufactured-homes/

 

 

 

 

 

 

To submit a news tip, please click here: iReportMHNewsTips@MHMSM.com


Federal Bill that MHI, Prosperity Now, NAMHCO Tout – MHARR Opposes, Why?

June 26th, 2019 No comments

FederalBillMHIProsperityNowNAMHCOToutMHARROpposesWhyDailyBusinessNewsMHProNews 

Last week, the Daily Business News on MHProNews published a multiple perspective report on a bill that NAMHCO, MHI, and Prosperity Now have all come out in support of, which can be accessed via the text/image box below.

 

Dueling Statements, NAMHCO, MHI, MHARR, Weigh In On Controversial MH Bill, “George Allen Pawn Gambit”

 

Against that backdrop, earlier this week, the Manufactured Housing Association for Regulatory Reform provided MHProNews their analysis on this measure. It follows below.

MHARRlogoMHARRNewsHeaderMHProNews

 

JUNE 24, 2019

 

 

TO:                 MHARR MANUFACTURERS

                       MHARR TECHNICAL REVIEW GROUP (TRG)

                       MHARR STATE AFFILIATES

 

FROM:           MHARR

 

RE:                 UNNECCESSARY/DAMAGING BILLS INTRODUCED IN CONGRESS

 

MHARR, based on numerous inquiries from industry members, has conducted a study and investigation of parallel bills introduced in the Senate and House of Representatives, entitled the “HUD Manufactured Housing Modernization Act of 2019.”  The Senate version of the bill – S. 1804 – was filed on June 13, 2019. The House version – H.R. 926 – was filed in the current Congress on January 30, 2019, but was previously introduced by the same sponsor, Rep. Norma Torres (D-CA), in 2017 and has been closely monitored by MHARR since that time.

In MHARR’s opinion, while seemingly innocuous on their face and apparently well-intended by their respective congressional sponsors, these bills — being pressed behind-the-scenes by narrow special interests, both within and outside of the industry – are not only unnecessary, but could have profoundly damaging unintended consequences for both the mainstream HUD Code manufactured housing industry and the lower and moderate-income American families who rely on those mainstream manufactured homes as the nation’s premier source of affordable, non-subsidized homeownership.  Indeed, if enacted into law (in either the House or Senate form), these bills could ultimately undermine and destroy all of the gains, advancements, recognition and acceptance that the industry (and consumers) have achieved under the Manufactured Housing Improvement Act of 2000 and the reforms within that law designed to transition manufactured homes from the “trailers” of yesteryear to modern, legitimate “housing” for all purposes.

And, in fact, it is because of the reforms mandated by the 2000 law, that recognition and acceptance of manufactured homes and the manufactured housing industry has become the norm among decision-makers in the nation’s capital, as demonstrated particularly (but not exclusively) by HUD Secretary Ben Carson’s accolades for manufactured housing as a major part of the solution to the nation’s affordable housing crisis. As explained below, however, these bills, if enacted, would: (1) undermine the progress that mainstream, affordable, HUD Code manufactured homes have made in Washington, D.C.; (2) would split the industry into a class of “high-end” homes and ade facto “second class” of mainstream, affordable homes that would once again be re-relegated to “trailer” status; and (3) effectively exclude such mainstream, affordable, HUD Code manufactured homes from any consideration for, or participation in, housing programs sponsored by the federal government – all for the benefit of a handful of corporate conglomerates.

Specifically, these bills — in light of recent developments concerning the Duty to Serve Underserved Markets (DTS) and the apparent effort by Fannie Mae and Freddie Mac, promoted by some in the industry, to divert DTS support to a supposed “new class” of pseudo-manufactured homes while providing no support whatsoever to existing, mainstream manufactured homes financed through personal property loans — appears to be tailored not only to legitimize the so-called “new class” of pseudo-manufactured home, but also to mandate government support for the utilization of that new class of home. The legislation, consequently, if enacted, would legally validate the discriminatory DTS policies adopted by Fannie Mae and Freddie Mac and the establishment of two separate “classes” of “residential manufactured homes” — the new class of high-cost, site-built-like hybrid homes favored and prioritized for securitization and secondary market support by Fannie Mae and Freddie Mac on the one hand, and a “second class” comprised of existing, affordable, mainstream HUD Code manufactured homes on the other, with continued and worsening discrimination against the “second-class” of mainstream manufactured homes. 

The legislation, if enacted, would thus sanitize and institutionalize the diversion of DTS support from mainstream manufactured housing to this so-called “new class” of home.  It would also simultaneously pave the way for local jurisdictions to utilize this “new class” of home – while in many, if not most cases, continuing to exclude and discriminate against mainstream, affordable HUD Code manufactured housing — in order to access HUD grants and other funding. The bills do this through a two-step process of effectively expanding the definition of “manufactured home” currently contained in federal law and then requiring the inclusion of homes meeting this expanded definition in the “Consolidated Plans” that jurisdictions must submit to HUD in order to receive federal funding under multiple HUD programs.

In relevant part, the bills direct HUD to “issue guidelines for jurisdictions relating to the appropriate inclusion of residential manufactured homes in a Consolidated Plan of the jurisdiction.” (Emphasis added). The term “Consolidated Plans,” as noted above, refers to “comprehensive housing affordability strategy and community development plans” required by HUD regulations for communities seeking federal funds under HUD’s formula grant programs, including Community Development Block Grants (CDBG) among many others. The definition of “residential manufactured home” contained in the bills, in turn, while referring to the definition of “manufactured home” contained in the National Manufactured Housing Construction and Safety Standards Act of 1974, as amended by the Manufactured Housing Improvement Act of 2000, would nevertheless expand that definition by using the term “residential,” which is not contained or included in the existing federal law definition. The Senate bill, in addition refers to homes ‘used as a dwelling,” which differs from existing law which defines “manufactured homes” as being “designed to be used as a dwelling.” The bills, accordingly, would create a discrepancy between the existing definition of “manufactured home” and what does – or does not – constitute a “residential manufactured home,” potentially without any type of vetting, analysis or due consideration, that would elevate the so-called “new class” of home for use in every jurisdiction receiving HUD grants and other funding, while reducing mainstream, affordable HUD Code manufactured homes, once again, to second-class “trailer” status contrary to the 2000 reform law.

The bills, accordingly, pose a significant threat to existing, affordable, mainstream HUD Code manufactured housing and the lower and moderate-income families that rely upon those homes.  At a minimum, with their expanded definition of “residential manufactured home,” which is materially different from the definition already contained in federal manufactured housing law, the two bills, if enacted, would create immediate market confusion – particularly for existing HUD Code manufactured homes, homeowners, and purchasers that could further suppress the mainstream, affordable HUD Code market — and could lead to liability and litigation over just what does or does not constitute a “manufactured home” for purposes of federal regulation and a multitude of other issues. Consequently, MHARR does not and cannot support these bills and has already begun efforts in Congress (and at HUD) to expose the significant problems inherent in these bills and the major harm that they could – and likely would — cause for both consumers of mainstream, affordable  manufactured housing and the industry as a whole, but especially its smaller businesses.

 

            Again, and in summary, these bills are unnecessary and potentially harmful, in that they:

 

  • Would perpetuate a negative connotation and image of existing, mainstream, HUD Code manufactured housing through their identical titles, which imply that manufactured homes are in need of “modernization” notwithstanding the sweeping institutional reforms of the Manufactured Housing Improvement Act of 2000.  In addition, these titles are misleading and inaccurate, in that the HUD program and the legal treatment of manufactured housing itself were already “modernized” by the 2000 reform law, after input from all stakeholders and the National Commission on Manufactured Housing;

 

  • Would, by changing the definition of what constitutes a “manufactured home,” create a substantial risk that the so-called “new class” of manufactured homes could lead to the establishment of a new baseline for all federal manufactured home standards, which would destroy the fundamental affordability of manufactured homes;

 

  • Would — even if it does not lead to more expansive and costly federal standards, as above — re-relegate existing, mainstream, affordable HUD Code manufactured homes to second-class “trailer” status;

 

  • Would undermine gains and advances made through and as a result of the Manufactured Housing Improvement Act of 2000 to elevate the status of mainstream, affordable manufactured homes to that of legitimate “housing” for all purposes (including federal and federally-sponsored housing programs);

 

  • Would legitimize and institutionalize continuing discrimination against mainstream, HUD Code manufactured home personal property loans under DTS;

 

  • Would legitimize and reinforce the discriminatory exclusion of mainstream, affordable HUD Code manufactured homes in jurisdictions seeking HUD grants and other related funding by effectively directing those jurisdictions instead to higher-cost, “new class,” hybrid-type homes;

 

  • Would direct HUD funding and grants to jurisdictions that continue to discriminate against and exclude mainstream, affordable HUD Code manufactured homes and manufactured housing residents;

 

  • Would create immediate market confusion, would further suppress the existing HUD Code manufactured housing market and depreciate the re-sale value of such mainstream, affordable manufactured homes;

 

  • Would benefit just a handful of industry conglomerates at the expense of smaller, independent industry businesses and the lower and moderate-income American homebuyers who rely on the affordability of mainstream HUD Code manufactured housing.

Consequently, rather than these bills, with their inconsistent language and potentially devastating consequences for mainstream, affordable HUD Code manufactured housing, MHARR will instead seek to advance language that could be included in any moving bill involving HUD or housing finance that would ensure equal, non-discriminatory treatment for all HUD Code manufactured housing in both HUD housing and community grant programs, and housing finance programs under the jurisdiction of HUD (i.e., the Federal Housing Administration and Ginnie Mae) and/or the Federal Housing Finance Agency (i.e., Fannie Mae and Freddie Mac).  It is worth noting that under the 2000 reform law, manufactured housing producers have – and have always – been capable of building homes with additional upgrades and features.  Thus, the MHARR-suggested language below.

That language, which MHARR has already started to provide to Congress, states:

 

  • “The Secretary of Housing and Urban Development shall provide for the inclusion of manufactured homes in all housing, federal housing assistance and community development programs and activities, including community development grants, administered by the Department, and shall ensure that any jurisdiction participating in any such program or applying to participate in any such program does not exclude or unreasonably restrict the placement of manufactured homes as defined by and regulated pursuant to the National Manufactured Housing Construction and Safety Standards Act of 1974, as amended by the Manufactured Housing Improvement Act of 2000 (42 U.S.C. 5401, et seq.) within that jurisdiction.”

 

  • “The Federal Housing Finance Agency shall ensure that the Government Sponsored Enterprises provide securitization and secondary market support for loans to purchase manufactured homes regulated pursuant to the National Manufactured Housing Construction and Safety Standards Act of 1974, as amended by the Manufactured Housing Improvement Act of 2000 (42 U.S.C. 5401, et seq.), including loans secured by manufactured homes titled as real estate and manufactured homes titled as personal property, on an equal basis with all other types of single-family homes.”

 

Such language, attached to any moving bill in Congress, would propel parity and equality between existing, mainstream, affordable HUD Code manufactured housing and all other types of housing, while simultaneously prohibiting discrimination against HUD Code housing (and manufactured homeowners) in vital areas.  By contrast, when the innocuous veneer of the pending bills is stripped away, it becomes apparent that they would do serious harm to existing, mainstream HUD Code manufactured housing and the lower and moderate-income American families who rely on the non-subsidized affordability of those homes.  Indeed, a thorough analysis, based on accurate and factual information, shows that congressional (and Administration – i.e., HUD) goodwill toward the industry is being diverted instead toward the benefit of extremely narrow special interests.  As a result, these bills should be unacceptable to the industry at large.  MHARR, for its part, will continue to disseminate accurate and factual information to educate and inform Congress, the Administration and other decision-makers of the potentially serious market disruptions that could result from such legislation, and how the positive and constructive intent of Congress toward mainstream, affordable HUD Code manufactured housing can best be advanced through the above language.

Please let us know if you have any questions or need any additional information regarding this matter.  We will continue to keep you apprised as new developments unfold. 

cc: Other Interested HUD Code Industry Members  

Manufactured Housing Association for Regulatory Reform (MHARR)

1331 Pennsylvania Ave N.W., Suite 512

Washington D.C. 20004

Phone: 202/783-4087

Fax: 202/783-4075

 ###

 

MHProNews has contacted legislators on both sides of the political aisle about this piece of legislation. There were polite, professional assurances made that our concerns would be reviewed and addressed. Stay tuned.

It should also be noted that MHProNews and our parent company has provided input and content from sources that we may agree, disagree, or have a nuanced ‘wheat and chaff’ interest in. We have sources that we may or may not agree with, but if their perspective is of importance to the industry’s professionals, we routinely opt to share it.

We have at times held positions that are different than that of a sponsor or client. No two people or organizations hold the same vantagepoint on every issue.  Nor should it be expected.  It would be contrary to human nature and experiences. We don’t expect a sponsor to agree with everything we say or do, and the same is true in reverse.

Perhaps the most dramatic example of that is the Manufactured Housing Institute (MHI), Clayton Homes, and 21st Mortgage Corporation.  Each of them were sponsors.  We took periodic positions that were different than theirs.  Then MHI Chairman Tim Williams praised our objectivity, which he said made our support – when they had it – all the more valuable.

That was arguably the right stuff thinking.

Manufactured housing is in an 8-month slide.  Some sources with MHI tell us that we should expect an uptick that reveres that trend.  We will soon see.

What is certain is that MHI, Clayton, and the ‘powers that be’ in the industry, plus their surrogates, act as if all is well. Unless the goal is to throttle the industry and consolidate it at a discount, who can say all is well with a straight face? See the report below.

 

 

That’s today’s first chapter of manufactured home “Industry News, Tips, and Views Pros Can Use,” © where “We Provide, You Decide.” ©. ## (News, fact-checks, analysis, and commentary.)

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsConnect on LinkedIn here. (Related Reports are further below. Third-party images and content are provided under fair use guidelines.)

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.

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

Submitted 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:

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

MH Community Leader Robert Van Cleef – Public Call – Federal Investigations of Berkshire Hathaway, Clayton Homes, 21st Mortgage, Manufactured Housing Institute

 

MHARRCallsHUDSecretaryCarsonEndDiscriminatoryZoningHUDRegulatedManufacturedHomesCommodoreHomesCorpMHARR

Photo of Commodore Homes model, MHARR logo, are provided under fair use guidelines. See article and letter to Secretary Carson, linked here. https://manufacturedhousingassociationregulatoryreform.org/mharr-calls-on-hud-secretary-to-end-discriminatory-and-exclusionary-zoning-of-hud-regulated-manufactured-homes/

 

President Trump Signs Executive Order on Affordable Housing Crisis, Ray of Light for Manufactured Housing? Plus, Manufactured Home Stock Updates

 

 

 

 

 

 

To submit a news tip, please click here: iReportMHNewsTips@MHMSM.com


President Trump Signs Executive Order on Affordable Housing Crisis, Ray of Light for Manufactured Housing? Plus, Manufactured Home Stock Updates

June 25th, 2019 No comments

CNNmone6.25.2019ManufacturedHomeStocksMarketsReportsMHProNewsThe timing on the new Trump Administration executive order (EOs) was interesting. Consumer confidence has wavered.  Conventional housing sales have dipped. That said, these types of EOs don’t just pop out of thin air.  They are developed over time. There are inputs from a variety of potential federal, state, private industry stakeholders.  On a down day for the markets, and mostly down results on manufactured housing tracked stocks, the official White House statement and a video interview with HUD Secretary Carson are our focus for this evening.  It will be followed by analysis and commentary on the buzz in MHVille.

 

If you’re new, already hooked on our new spotlight feature – or are ready to get the MH professional fever – our headline report is found further below, after the newsmaker bullets and major indexes closing tickers.

 

The evolving Daily Business News market report sets the manufactured home industry’s stocks in the broader context of the overall markets.  Headlines – at home and abroad – often move the markets.  So, this is an example of “News through the lens of manufactured homes, and factory-built housing.” ©

Part of this unique evening feature provides headlines – from both sides of the left-right media divide – which saves busy readers time, while underscoring topics that may be moving investors, which in turn move the markets.

Readers say this is also a useful quick-review tool that saves researchers time in getting a handle of the manufactured housing industry, through the lens of publicly-traded stocks connected with the manufactured home industry.

This is an exclusive evening or nightly example of MH “Industry News, Tips and Views, Pros Can Use.” © It is fascinating to see just how similar, and different, these two lists of headlines can be.

Want to know more about the left-right media divide from third party research?  ICYMI – for those not familiar with the “Full Measure,” ‘left-center-right’ media chart, please click here.

 

The timing on the new Trump Administration executive order (EOs) was interesting. Consumer confidence has wavered. Conventional housing sales have dipped. That said, these types of EOs don’t just pop out of thin air. They are developed over time. There are inputs from a variety of potential federal, state, private industry stakeholders. On a down day for the markets, and mixed results on manufactured housing track stocks, the official White House statement and a video interview with HUD Secretary Carson are our focus for this evening.

CNN Business

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  • Silicon Valley is changing the world. It must do more to ensure everyone benefits
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Fox Business

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Today’s markets and stocks snapshot, at the closing bell…

9MarketIndicatorsYahooFinance6.25.2019DailyBusinessNeawsManufacturedHousingIndustryStocksMarketsReportsDataMHProNews

 

Today’s MH Market Spotlight Report –

PresidentTrumpSignsEOonAffordableHousingCrisisRayLightManufacturedHousingPlusManufacturedHomeStockUPdates

Still from video below.

The video from right-of-center Fox Business this evening is a snapshot of some of the key talking points from the White House press room to MHProNews.  We’ll start this evening’s report with the video featuring HUD Secretary Ben Carson, who will be the point man for this new initiative.  

 

 

Then after the White House Fact Sheet, we will dive into some manufactured housing an industry related element to this fascinating and potentially useful EO. Let’s dive into the word from 1600 Pennsylvania Ave.

 

PresidentDonaldJTrumpAffordableHousingEOFactSheetDailyBusinessNewsMHProNewsWe'reLiftingUpForgottenCommunitiesCreatingNewOpportunitiesHelpingEveryAmericanFindPathAmericanDreamPresidentDonaldJTrumpQuoteMHProNews

 

·        President Trump is signing an executive order to establish a White House Council on Eliminating Barriers to Affordable Housing Development.

o   The council will consist of members from across 8 Federal agencies and will be chaired by Secretary of Housing and Urban Development (HUD) Ben Carson.

·        This new council will engage with State, local, and tribal leaders to identify and remove obstacles that impede the development of new affordable housing.

·        The Council will look at the affect Federal, State, and local regulations are having on the costs of developing affordable housing and the economy.

o   At the President’s direction, the Council will take action to reduce Federal regulatory barriers to affordable housing development.

o   The Council will support State and local efforts to reduce regulatory barriers.

o   The Council will recommend ways to reduce statutory, regulatory, and administrative burdens at all levels of government that hinder affordable housing development.

·        Creating this Council will streamline interagency processes and deliver results even faster.

CUTTING EXCESSIVE COSTS TO SPUR CONSTRUCTION: Regulations are creating excessive costs that are holding back the development of needed affordable housing.

·        Many of the markets with the most severe shortages in affordable housing have the most restrictive State and local regulatory barriers to development.

·        More than 25% of the cost of a new home is the direct result of Federal, State, and local regulations, with the price tag even reaching up to 42% for some new multifamily construction.

·        Costly regulations have contributed to a shortage of affordable homes.

o   Census Bureau data shows that from 2010 to 2016, only seven homes were built for every 10 households formed.

·        High housing prices are a primary determinant of homelessness, and research has directly linked more stringent housing market regulation to higher homelessness rates.

HELPING AMERICANS FIND A HOME: President Trump is building on efforts his Administration has taken to lift up all Americans and make it easier for them to find a home.

·        Earlier this year, President Trump signed a memorandum to initiate needed reforms to our housing finance system.

o   President Trump is working to improve Americans’ access to sustainable home mortgages.

o   The Trump Administration is committed to enabling Americans to access Federal housing programs that help them finance the purchase of their first home.

·        In 2018, HUD launched a campaign to encourage more landlords to participate in the Housing Voucher Program, the country’s largest rental subsidy program.

 

TheWhiteHouseDailyBusinessNewsMHProNews

WH logo provided under fair use guidelines.

 

There are two Washington, D.C. metro national trade organizations that represent their interests in manufactured housing, plus a new trade group that has a metro lobbyist.  

The Arlington, VA based Manufactured Housing Institute was quick to put out a statement claiming credit for this executive order. Seriously? Let’s examine that…

This news tip came in shortly after the Executive Order was published.

Quoting verbatim:

 

From an industry source:

On the surface, this appears to be good news.  But I want to draw your attention to the following regarding zoning and regulatory compliance:

‘More than 25% of the cost of a new home is the direct result of Federal, State, and local regulations, with the price tag even reaching up to 42% for some new multifamily construction.’

Manufacturers will tell you that one of the key cost drivers between modular and manufactured homes is the higher inspection costs under the IRC and state building codes for modular homes.  This can cause modular homes to be 15% to 20% more costly than manufactured homes.  If the Administration somehow is successful in reducing those costs, the competitive advantage of manufactured homes begins to erode.”

Now, let’s look at some pull quotes from the Arlington, VA based Manufactured Housing Institute (MHI) earlier today.

Each bullet represents a quote from MHI.

·        While the federal government cannot control state and local zoning and development restrictions, HUD has tools at its disposal that it can use to incentivize officials. 

·        MHI has consistently argued that, all too often, state and local jurisdictions implement arbitrary and discriminatory zoning and development restrictions that make it nearly impossible to site manufactured homes.

·        MHI is the only association representing the industry that is successfully elevating manufactured housing as a policy solution in the affordable housing conversation, and today’s announcement by President Trump is a reflection of MHI’s efforts. 

If their claims are truly so, why did MHI not weigh in on the Bryan, TX manufactured housing ban earlier this year? They were specifically asked to get involved. They reportedly did not.

But there is more that calls into question MHI’s claims. Where is there anything on MHI’s website that mirrors what JD Harper said?

 

 

MHI affiliate members Jen Hall and JD Harper are among the state association executives that believe in enhanced preemption. Harper weighed in publicly on that issue in from the linked image/quote above.  Hall successfully obtained a letter from HUD that slapped down a local jurisdiction for overstepping their rights to regulate manufactured housing.

 

HUDLetterCityRichlandMSEmilyGoodeJenHallMMHAFederalPreemptionofManufacturedHomesFederalEnhancedPreemptionMHIA2000DailyBusinessNewsMHProNews

If MHI is so influential at HUD, why didn’t they get a letter like this from HUD for Bryan TX?

 

MHI’s website, weeks after these issues still has nothing on the website, based upon our search of their website tonight.  They can claim whatever they want to, but don’t the facts speak loudly?

Posturing, fig leaves, spin, half-truths, photo ops, and head-fakes only go so far.   Here’s tonight’s search results from their own website.

 


2019-06-25_2030ManufacturedHousingInstituteMHIwebsiteDailyBusinessNewsMHProNews

 

Arlington tried to take credit for S. 2155 too.  Sorry, but the evidence differs from their claim.

 


In fairness, 3 MHI member companies did something potentially useful, but MHI was – per sources – dragged into the Innovative Housing Summit earlier this month.  It was HUD and the NAHB that put on the event. Where was MHI’s promotion of that event?  Once more, the facts matter more than their claims, don’t they?

 

New HUD Videos of Secretary Ben Carson, Innovative Housing Showcase 2019, Surprising Manufactured Housing Institute Reveals

 

As to MHI’s claim about “MHI is the only association representing the industry that is successfully elevating manufactured housing as a policy solution in the affordable housing conversation,” that ignores the fact that NAMHCO broke ranks with MHI, precisely because they repeatedly failed communities for years.

NealTHaneyNAMHCOWhyBreakawayfromManfuacturedHousingInstituteMHI

Their own past and present members call MHI posturing hypocrites. We’ve asked MHI, their executive committee, and their outside attorney repeatedly to reply to these and other concerns. Silence. 

FrankRolfeMHIChairmanNathanSmithSSKCommunitiesHypocrisyQuote-MHProNews

 

Furthermore, consider the lead up to this release from the White House today.

Let’s look at what MHARR has done in recent weeks:

https://manufacturedhousingassociationregulatoryreform.org/hud-study-analysis-of-zoning-discrimination-against-manufactured-housing-sought/

Doesn’t that sound similar to what the White House is in fact doing?  Where is MHI’s letter asking for the same?  Where is the proof from Arlington?

Or how about this on zoning and preemption.

https://manufacturedhousingassociationregulatoryreform.org/lead-follow-or-get-out-of-the-way/

MHARR has been strong on preemption for years.

ManufacturedHousingAssociationRegulatoryReformMHARREnhancedPreemptionDailyBusinessNewsMHProNews

Preemption.  We cover it, MHARR does. State execs have too. So why has MHI avoided that topic, as noted above?

EnhancedPreemptionSearchManufacturedHousingMHProNewsNadaMHIbutMHARRhasit2019-06-12_1227

Then, consider this:

https://manufacturedhousingassociationregulatoryreform.org/mharr-calls-on-hud-secretary-to-end-discriminatory-and-exclusionary-zoning-of-hud-regulated-manufactured-homes/

Then, this:

https://manufacturedhousingassociationregulatoryreform.org/mharr-launches-fighting-discriminatory-zoning-mandates-manufactured-housing-project/

Then, this:

https://manufacturedhousingassociationregulatoryreform.org/time-to-investigate-fannie-and-freddies-mishandling-of-dts/

Then, this:

https://manufacturedhousingassociationregulatoryreform.org/unnecessary-damaging-bills-introduced-in-congress/

MHARR’s president contacted the City of Bryan, where was MHI? Our sources in Texas confirmed that MHI NEVER contacted Bryan.  

The MHI website has a page that wails about zoning issues, but has not one word about enhanced preemption, as of 6.25.2019 at 5:55 PM ET, as noted above.  Give MHI credit for chutzpah.

ChutzpahCartoonIdLikeThisBookOnChutzpahandIWantYouToPayForItWikiDailyBusinessNewsMHProNews

Words, ideas and measurable ACTION matter.

SoTheAssociationMHIIsNotThereFortheIndustryUnlesstheinterestsoftheBigBoysJointheIndustry'sMartyLavinMHIAwardWinnerQuoteMHProNews

Learn more, click here.

UnderstandingWarrenBuffettCastleMoatMetaphorsQuotesDailyBusinessNewsMHProNews

BloombergShipmentProductionGraphicManufacturedHousingIndustryDailyBusinessNewsMHProNews

April data reflects month 8th of the downturn, with nary a whimper from MHI or the big boys. Why? How dare they claim credit for the Trump executive order?

Facts matter.  If MHI was so effective, why is the industry into 8 months of downturn?  They are the ones that claim to promote the industry. What kind of promotion is it when the industry is going backwards? 

DuckDodgeDismissDistractDetractDefameFromIssueTacticsByThoseWithNoGoodAnswersMHProNews-768x609

The fact that MHI won’t publicly debate, answer questions any more, or discuss their performance all speaks volumes. 

 

MHISrVPRickRobinsonManufacturedHousingInstituteLogoGenCounselMHProNews657

See related reports, below.  Meanwhile, hats off to MHARR for their consistent push to advance these issues in Washington, D.C. They and their allies work appear to be paying off.

 

Related Reports:

Greener, Stylish Manufactured Homes – Hidden Facts in the Washington Post Manufactured Housing Narrative

Nicole Friedman, Ben Eisen, Wall Street Journal – Fannie, Freddie, Manufactured Homes, and MH Financing – Part 1

 

Yahoo Finance Closing Ticker for MHProNews…

NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services.

NOTE: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).

 

6.25.2019YahooManufacturedHousingIndustryConnectedStocksDailyBusinessNewsMHProNews

Updated:

Berkshire Hathaway is the parent company to Clayton Homes21st Mortgage, Vanderbilt Mortgage and other factory built housing industry suppliers.

LCI Industries, Patrick, UFPI, and LP all supply manufactured housing.

AMG, CG and TAVFX have investments in manufactured housing related businesses.

Your link to industry praise for our coverage, is found here.

For the examples of our kudos linked above…plus well over 1,000 positive, public comments, we say – “Thank You for your vote of confidence.”

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(Image credits and information are as shown above, and when provided by third parties, are shared under fair use guidelines.)

Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.

To submit a news tip, please click here: iReportMHNewsTips@MHMSM.com


“Incestuous” Lobbying? Kings of K Street, Revolving Door, Big Tech, Berkshire Hathaway – Follow the Money

June 25th, 2019 No comments
IncenstuousLobbyingKingsofKStreetRevolvingDoorBerkshireHathawayFollowMoneyManufacturedHousingInstituteClaytonHomes21stMortgageMHProNews

Videos are further below. Collage by MHProNews.

When it comes to risk, here’s a reality check,” says FINRA. “All investments carry some degree of risk…within [a] country…political risk and currency risk are notable factors…”

 

Investopedia says that “political risk and macroeconomic risk…affect the performance of the overall market…” The centrist Financial Times points to the dangers to investments posed by political risks too.

Investors and professionals will be discerning 2020 candidates, as will the broader population. But in a nation of hundreds of millions, the lens candidates are viewed through are clearly going to differ.

The perspective of the millennial racked by student debt may well be more attracted to a candidate that promises to deal with that issue than those candidates who say there is no money to pay for such a debt-elimination program.  By contrast, the investor or small business owner may look dimly at those candidates who pledge higher taxes and more regulations.

That’s not to suggest that all businesses or investors are more centrist or right-leaning.  Some of the world’s and America’s richest men often bet on Democratic candidates, as the Daily Business News reported in the run-up to the 2018 midterms. The recent revelation that the Koch brothers could be supporting more Democrats in 2020 is just one indicator that the wealthy see politics and lobbying as a tool of business that they play which can pay hefty returns on investment.

The business of politics influences the creation of new regulations, the suspension of regs – and sometimes the failure to properly enforce existing laws – that can help or harm businesses. 

This Daily Business News item on MHProNews will look at lobbying and the revolving door in general, and then pivot in the third part of this article to more manufactured housing specific items in this 30,000-foot level report.

 

Mainstream, Investment Takes on K Street, Revolving Door, and Business

Gearing up for a big fight in Washington, four of the biggest tech companies are increasing their lobbying efforts,” says CBS News’ YouTube page to introduce their recent video report posted below. “Amazon, Apple, Facebook and Google are drawing out lobbyists with connections to the government as they face mounting scrutiny for alleged anti-trust violations. Kenneth Vogel, Washington reporter for The New York Times, joins CBSN to discuss.”’

 

 

As an editorial note about the video above, Vogel lays out several of the facts quite nicely. But if one detects a tone of ‘regulation over breakup’ in his analysis, MHProNews would observe that ‘regulating’ these companies is arguably not going to work as some think. The regulations in place haven’t worked, or the vexing scenarios Vogel describes wouldn’t exist. ICYMI, see what Professor Ed Lotterman says on the topic in the report linked from the text-image box below.

 

Real World Economics’ Professor Ed Lotterman says “Playing Monopoly is More Than Just Rolling the Dice”

 

Several of the Democratic 2020 candidates – Senators Cory Booker and Elizabeth Warren jump to mind – as well as a growing number on the political right have said that they think these tech giants need to be broken up under antitrust laws. Some of those same Senate Democrats have signed a letter asking the CFPB to dig into concerns over Berkshire Hathaway owned Clayton Homes and their associated manufactured home lenders.

In the CBS News video, Vogel touches upon several useful underlying themes to understand, including the ‘revolving door,’ which will be the focus of an upcoming manufactured housing industry specific exclusive report.

With regard to the New York Times’ Vogel’s narrative, antitrust law and how it is used is likely to be a campaign topic in the contests ahead. Clearly, Big Tech will be fighting it, as they have for years.  It is likely no coincidence that the Trump Administration’s antitrust division at the Department of Justice is reportedly opened investigations into some of the firms named above.

While they may approach these subjects from a different perspective, when both major parties spot a similar problem, that may be a sign that critical mass on an issue is approaching.

The video below is from the Obama Administration era, and thus is a bit dated.  But it makes clear just how large the lobbying business is, and why big business is willing to invest so much in it. The ROI on lobbying is stunning. This Motif investing video also has a touch of dry humor in the music an imagery.  The sources for the data are often shown in the bottom right corner of the screen.

 

 

As Motif summed it up, “If you follow the “Kings of K Street” motif, you know that companies that invest in influence have a leg up.” What that means is that smaller businesses and investors have to play smarter or they can get run over.

 

SoTheAssociationMHIIsNotThereFortheIndustryUnlesstheinterestsoftheBigBoysJointheIndustry'sMartyLavinMHIAwardWinnerQuoteMHProNews

MHProNews looks at the facts, considers the sources, follows the evidence, and the money. 

 

MHProNews recently spotlighted how the Manufactured Housing Institute (MHI) has spent its lobbying dollars via their political action committee, the MHI PAC.

 

Democrats? Republicans? Political Campaigns Manufactured Housing Institute (MHI) PAC Supported

 

Berkshire Hathaway, as thousands of industry pros know, is the parent to Clayton Homes, 21st Mortgage Corp, Vanderbilt Mortgage and Finance (VMF), plus a number of other manufactured housing industry connected firms.

But Berkshire’s ties with the so-called tech giants are deep and growing, so that should not be overlooked in the snapshot outlined above.

Warren Buffett and Bill Gates of Microsoft fame have long-standing ties, including Buffett donating billions in Berkshire stock to the Bill and Melinda Gates Foundation, where Buffett is a trustee.

BillMelindaGatesFoundationWarrenBuffettTrusteeLeadershipPhotosDailyBusinessNewsMHProNews

Collage from the Gates foundation website.

 

Berkshire now has roughly a billion dollars of Amazon stock.  Amazon founder Jeff Bezos and Buffett certainly collaborated on various levels years before that formal investment.

Berkshire also owns stock in giant Apple. According to CNBC on May 3, the value of Berkshire’s holdings in Apple in late 2018 was some $40 billion dollars.

So, when one is thinking about the tech giants, don’t forget that Berkshire and Buffett are not likely that far off. 

 

“Have…Giants…Stifled Competition,” Antitrust Battle Lines in D.C., plus Manufactured Home Market Updates

 

Berkshire’s own lobbying is prodigious. See the summary in the graphic that follows.

 

BerkshireHathaway2018OpenSecretsCampaignContributionsManufacturedHousingIndustryMHProNews

Thus the tech giants plus Berkshire all share an interest in fighting antitrust action. Never forget that for Buffett and Berkshire, regulations can be a tool on their side that is wielded against other lesser firms.

 

Raw Power Over Manufactured Housing

The raw power to destroy independents is linked below.  That hot-linked text-image box takes a reader to the report which purportedly documents collusion and violations of antitrust laws.  Based upon years of research, MHProNews believes that only an AT&T style breakup of these firms under antitrust laws will suffice in the end. 

 

SmokingGunEvidenceOfAntiTrustMonopolisticCollusionMoatClaytonHomesKevinClayton21stMortgageTimWilliamsWarrenBuffettMHLivingNewsMHProNews

In a series of direct quotes in context, a document from 21st Mortgage signed by their president Tim Williams, Warren Buffett’s direct quotes from that same year’s annual letter, and video recorded comments by Kevin Clayton, all line up in what attorneys who reviewed it see as ‘smoking gun’ evidence of antitrust violations. They demonstrate how thousands of independent retailers, communities, and several producers – among others – where purportedly directly harmed by action that could be deemed an antitrust violation. See for yourself: https://www.manufacturedhomelivingnews.com/bridging-gap-affordable-housing-solution-yields-higher-pay-more-wealth-but-corrupt-rigged-billionaires-moat-is-barrier/

 

But as a much-needed lead up to federal antitrust action, Congress can hold open hearings to spotlight on camera how Berkshire brands, MHI, and the ‘big boys’ dominating our industry impact consumers, investors, and most others.  In a similar vein, the Manufactured Housing Association for Regulatory Reform (MHARR), a trade group that represents independent producers, is calling for just such congressional investigations on the finance topic: see that from MHARR, at this link here

There are resident-community leaders who are coming to a similar conclusion.

 

MH Community Leader Robert Van Cleef – Public Call – Federal Investigations of Berkshire Hathaway, Clayton Homes, 21st Mortgage, Manufactured Housing Institute

There will be an exclusive, special report planned for later this week on the revolving door and how that is connected to and impacts manufactured housing. That impacts thousands of industry operations. So if MHVille matters to you, don’t miss it.

 

ManufacturedHousingProNewsMHProNewsConfidentialTipsDocumentsNews

Submit confidential or on-the-record news tips, or comments at this linked email mailto:iReportMHNewsTips@mhmsm.com. Put the phrase “News Tips” or “Comments” in the subject line to help us spot yours in our volume of emails, thank you.

That’s today’s third installment of manufactured home “Industry News, Tips, and Views Pros Can Use,” © where “We Provide, You Decide.” ©. ## (News, fact-checks, analysis, and commentary.)

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsConnect on LinkedIn here. (Related Reports are further below. Third-party images and content are provided under fair use guidelines.)

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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.

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

Submitted 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:

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

Antitrust – “You Can’t Penalize Success But Can Penalize Bad Behavior.” Former Ast AG Bill Baer, plus Manufactured Home Market Updates

Washington Leak – Justice Department Prepares Major Antitrust Investigation

Senator Cory Booker – ‘We Need a President…to Enforce Antitrust Laws,’ Digging Warren, POTUS Trump

 

Democrats, Independents, Elephant in the Room, Third Parties, 2020 Kickoff, and Manufactured Housing

 

 

 

 

 

 

 

To submit a news tip, please click here: iReportMHNewsTips@MHMSM.com


Sun Communities (SUI) As Viewed by Hedge Funds Data, Per Media Reports

June 25th, 2019 No comments

 

SunCommunitiesLogoSUIlogoViewedByHedgeFundsPerMediaReportsManufacturedHomeCommunitiesIndustryMHProNews

Nina Todic, writing for investor-focused Insider Monkey and Yahoo Finance news, reported as follows about manufactured home commercial real estate giant, Sun Communities (SUI).

 

 

Sun is one of the publicly traded firms tracked in our evening manufactured housing connected stock report.  Last night’s closing ticker and related numbers are available at this link here.

We’ll note that this isn’t a fact-check. Nor is this an endorsement of Insider Monkey, rather, this is a report on June 18, 2019 that summarizes their findings on Sun Communities as it relates to hedge fund interest.

Let’s further note as a disclosure the mantra of Sam Zell, of Sun’s rival Equity LifeStyle Communities, famously quipped that “When others are going left, look right.” Zell told MHProNews that they have never lost confidence in the manufactured home community sector.

Those notes made, let’s dive into their data and views.

 

InsiderMonkeyTopHedgeFundsInvestorGraphicDollarAmountsCorporateNamesDailyBusinessNewsMHProNews 

Here’s What Hedge Funds Think About Sun Communities Inc (SUI)

Hedge fund managers like David Einhorn, Bill Ackman, or Carl Icahn became billionaires through reaping large profits for their investors, which is why piggybacking their stock picks may provide us with significant returns as well. Many hedge funds, like Paul Singer’s Elliott Management, are pretty secretive, but we can still get some insights by analyzing their quarterly 13F filings. One of the most fertile grounds for large abnormal returns is hedge funds’ most popular small-cap picks, which are not so widely followed and often trade at a discount to their intrinsic value. In this article we will check out hedge fund activity in another small-cap stock: Sun Communities Inc (NYSE:SUI).

Sun Communities Inc (NYSE:SUI) was in 18 hedge funds’ portfolios at the end of March. SUI has seen a decrease in support from the world’s most elite money managers of late. There were 22 hedge funds in our database with SUI holdings at the end of the previous quarter. Our calculations also showed that sui isn’t among the 30 most popular stocks among hedge funds.

Hedge funds’ reputation as shrewd investors has been tarnished in the last decade as their hedged returns couldn’t keep up with the unhedged returns of the market indices. Our research has shown that hedge funds’ small-cap stock picks managed to beat the market by double digits annually between 1999 and 2016, but the margin of outperformance has been declining in recent years. Nevertheless, we were still able to identify in advance a select group of hedge fund holdings that outperformed the market by 40 percentage points since May 2014 through May 30, 2019 (see the details here). We were also able to identify in advance a select group of hedge fund holdings that underperformed the market by 10 percentage points annually between 2006 and 2017. Interestingly the margin of underperformance of these stocks has been increasing in recent years. Investors who are long the market and short these stocks would have returned more than 27% annually between 2015 and 2017. We have been tracking and sharing the list of these stocks since February 2017 in our quarterly newsletter.

We’re going to review the new hedge fund action surrounding Sun Communities Inc (NYSE:SUI).

What have hedge funds been doing with Sun Communities Inc (NYSE:SUI)?

At Q1’s end, a total of 18 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of -18% from the previous quarter. The graph below displays the number of hedge funds with bullish position in SUI over the last 15 quarters. With the smart money’s sentiment swirling, there exists an “upper tier” of noteworthy hedge fund managers who were boosting their holdings considerably (or already accumulated large positions).

 

SUNCommunities-SUI-TopHedgeFundPositionsTrackInsiderMonkeyDailyBusinessNewsMHProNews

 

More specifically, Renaissance Technologies was the largest shareholder of Sun Communities Inc (NYSE:SUI), with a stake worth $152.7 million reported as of the end of March. Trailing Renaissance Technologies was Citadel Investment Group, which amassed a stake valued at $79.6 million. Waratah Capital Advisors, Millennium Management, and Echo Street Capital Management were also very fond of the stock, giving the stock large weights in their portfolios.

Seeing as Sun Communities Inc (NYSE:SUI) has experienced falling interest from the entirety of the hedge funds we track, it’s easy to see that there exists a select few funds that slashed their full holdings heading into Q3. Intriguingly, Stuart J. Zimmer’s Zimmer Partners said goodbye to the largest stake of all the hedgies tracked by Insider Monkey, comprising an estimated $54.1 million in stock. Richard Driehaus’s fund, Driehaus Capital, also dumped its stock, about $2.3 million worth. These transactions are intriguing to say the least, as total hedge fund interest was cut by 4 funds heading into Q3.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Sun Communities Inc (NYSE:SUI) but similarly valued. We will take a look at Agnico Eagle Mines Limited (NYSE:AEM), National Oilwell Varco, Inc. (NYSE:NOV), Ralph Lauren Corporation (NYSE:RL), and Trimble Inc. (NASDAQ:TRMB). This group of stocks’ market caps are closest to SUI’s market cap.

 

InsiderMonkeyTopHedgeFundsPositionsRelativetoSUIsunCommunitiesDailyBusinessNewsMHProNews

 

As you can see these stocks had an average of 22.5 hedge funds with bullish positions and the average amount invested in these stocks was $751 million. That figure was $413 million in SUI’s case. Ralph Lauren Corporation (NYSE:RL) is the most popular stock in this table. On the other hand Trimble Inc. (NASDAQ:TRMB) is the least popular one with only 14 bullish hedge fund positions. Sun Communities Inc (NYSE:SUI) is not the least popular stock in this group but hedge fund interest is still below average. Our calculations showed that top 20 most popular stocks among hedge funds returned 1.9% in Q2 through May 30th and outperformed the S&P 500 ETF (SPY) by more than 3 percentage points. A small number of hedge funds were also right about betting on SUI as the stock returned 4.2% during the same time frame and outperformed the market by an even larger margin.

Disclosure: None. This article was originally published on Insider Monkey at this link here.

##

SunCommunitiesIncSUIRentalofManufacturedHomeVsOtherRentalComparisionsFeb2019IRDec312018DataManufacturedHomeCommunityDailyBusinessNewsMHProNews

 

For balance, and to exemplify why Zell and other savvy investors have not lost confidence in manufactured housing (MH) and MH Communities, consider the graphics above and below from Sun Communities. 

SunCommunitiesIncSUIManufacturedHomeSalesPriceComparisionConventionalHousingCostFeb2019IRDec312018DataManufacturedHomeCommunityDailyBusinessNewsMHProNews

 

Our more robust MHProNews April 2019 data-and graphically rich dive into Sun is found at this linked text-image box below, which is the source for the sample Sun Community graphics on this page.

 

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

 

During an affordable housing crisis, there are reasons to pay attention to the most proven of all kinds of affordable homes. 

 

CostToMoveManufacturedHomeRararityMovingManufacturedHomeSunCommunities2-2019ManufacturedHomeDailyBusinessNewsMHProNews

SunCommunitiesIncSUIFactorsPoweringGrowthFeb2019IRDec312018DataManufacturedHomeCommunityDailyBusinessNewsMHProNews

That most proven permeant affordable housing resource would be HUD Code manufactured homes.

 

InfographicMobileManufacturedHomeManufacturedHousingIndustryFactsDataResearchMobileManufacturedHomeLivingNews

Manufactured housing is the most proven form of affordable housing. It offers consumer safeguards that far more expensive conventional housing does not offer.

 

That’s this morning’s second installment of manufactured home “Industry News, Tips, and Views Pros Can Use,” © where “We Provide, You Decide.” ©. ## (News, fact-checks, analysis, and commentary.)

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsConnect on LinkedIn here. (Related Reports are further below. Third-party images and content are provided under fair use guidelines.)

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.

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

Submitted 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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Submit confidential or on-the-record news tips, or comments at this linked email mailto:iReportMHNewsTips@mhmsm.com. Put the phrase “News Tips” or “Comments” in the subject line to help us spot yours in our volume of emails, thank you.

Related Reports:

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

Views From Trenches of Manufactured Housing – Factories, Retailers, MHCs, Others Sound Off

 

Nicole Friedman, Ben Eisen, Wall Street Journal – Fannie, Freddie, Manufactured Homes, and MH Financing – Part 1

TimeToInvestigateFannieFreddieMishandlingofDutyToServeDTSMHARRissuesPerspectiveManufacturredHousingAssocRegulatoryReformLogo

https://manufacturedhousingassociationregulatoryreform.org/time-to-investigate-fannie-and-freddies-mishandling-of-dts/

HUD Secretary Ben Carson, Affordable Housing, Obscuring the Truth, Innovations in Housing, and Manufactured Homes

 

 

 

 

 

To submit a news tip, please click here: iReportMHNewsTips@MHMSM.com


21st Mortgage Corporation Manufactured Housing Loan Data, Per Federal Sources

June 25th, 2019 No comments

21stMortgageCorpLogoFederalManufacturedHousingDataCFPBLogoBerkshireHathawayClaytonHomesSisterCompanyMHProNews

The following facts is the most recent summary of information available currently from the Consumer Financial Protection Bureau (CFPB) on HMDA data for 21st Mortgage Corporation loans on HUD Code manufactured homes.

 

21st is part of the metro-Omaha, NE based Berkshire Hathaway owned family of brands and is based in Metro Knoxville, TN.

Unlike Clayton Homes and Vanderbilt Mortgage and Finance (VMF), as thousands of manufactured housing industry professionals know, they ‘serve’ independent retailers and communities, as opposed to Clayton Homes directly.

That they like or prefer making loans on Clayton Homes built product should be evident from the report linked below.  But there are good reasons for them to make loans on other producer’s brands, because it arguably provides them with an upper hand, causing other producers of manufactured housing to have a degree of dependence and thus leverage.

 

SmokingGunEvidenceOfAntiTrustMonopolisticCollusionMoatClaytonHomesKevinClayton21stMortgageTimWilliamsWarrenBuffettMHLivingNewsMHProNews

In a series of direct quotes in context, a document from 21st Mortgage signed by Tim Williams, and video recorded comments by Kevin Clayton, these all line up to demonstrate how independent retailers, communities, and producers – among others – where purportedly harmed by action that could be deemed an antitrust violation. 21st, Clayton, and their association mouthpiece, MHI, and their outside attorney have all been asked to comment on these facts and allegations.  They’ve repeatedly declined comment.  https://www.manufacturedhomelivingnews.com/bridging-gap-affordable-housing-solution-yields-higher-pay-more-wealth-but-corrupt-rigged-billionaires-moat-is-barrier/

 

Here is the 21st Mortgage Corporation HMDA data from federal sources noted at the bottom of the graphic.

 

21stMortgageCorpHMDAData

 

You can see by looking at our ‘almost midnight’ report from 6.24.2019 that Vanderbilt made FHA loans, but 21st originated none. That is federal confirmation of a prior news tip that we received from 21st personnel on an off-the-record basis. Those middle management type sources were not able to articulate an answer as to why 21st would stop making such loans, but why VMF would continue to offer them?

You can compare 21st and with VMF’s data, by accessing the report from the linked text-image box below.

 

Vanderbilt Mortgage and Finance Manufactured Home Loan Origination Data, Per Consumer Financial Protection Bureau

 

As with other federal data, compiling and sorting the information has a degree of lag time.  A more complete snapshot from 2015 is available below.  Note that Triad Financial, due to the way they are structured, is not reflected in the screen capture of the federal dataset below. But they are larger that several of the lenders shown, while smaller than 21st, VMF, or Wells Fargo, per sources. It is therefor interesting to note that the top 3 lenders for the year below all have direct ties to Berkshire Hathaway, which owns a sizeable stake in Wells Fargo. 

 

2015HMDAdataManufacturedHousingLendersDailyBusinessNewsMHProNews

Download and open this graphic to see it full size, which is more than double the size visible now.

Both VMF and 21st qualify for the 10/10 rule established by FHA, which made Berkshire Hathaway the dominating lender in that realm.  Was that 10/10 rule threshold a coincidence?  Or was it useful to Berkshire and a sign of some darker relationship that bears federal scrutiny?

 

FollowThe MoneyPayMoreAttentionToWhatPeopleDothanwhatTheySaySpySea72MartyLavinYachtManufacturedHousingINdustryProMHProNews

Marty wasn’t the first to say these quotable quotes, but that he said them and has such close ties to MHI, GSEs, the ‘big boys’ and manufactured home lending should cause the thoughtful reader and inquiring mind to pause and wonder.

 

It is worth mentioning that Harvard’s Eric Belsky said that credit was the lifeblood of housing.  That was dramatically demonstrated by the mortgage/credit/housing crisis of 2008, but which straddled other years.

 

EricBelksyManufacturedHousingIndustryManufacuredHomeManufacturedHousingInstituteResearchDataAffordbleHousingMHProNewsDailyBuisnessNews575

Why did Belsky miss his predicted date? Because it came before Buffett’s entry into MH? See the attorney-reviewed report linked here.

The Government Sponsored Enterprises (GSEs) of Fannie Mae and Freddie Mac have used manufactured housing’s prior credit crisis that began to become apparent with the slide in sales, shipments, and production in 1999, but accelerated into the early 2000s.

 

BloombergShipmentProductionGraphicManufacturedHousingIndustryDailyBusinessNewsMHProNews

April data reflects month 8th of the downturn, with nary a whimper from MHI or the big boys. Why? 

While losses in manufactured housing loan portfolios was significant, as those who recall Greentree, Conseco, Associates and other lenders who essentially vanished from the manufactured housing scene as a result of the meltdown in MHVille that began to be evidenced in 1999.  By comparison to conventional housing losses in 2008, while significant to our industry, it was as an insider called it a “pimple on an elephant’s ass.” See that comment and more from 2017 in the report linked below.

 

“An Elephant Ass,” Understanding GSEs, Duty to Serve, Manufactured Home Lending

 

Why did lending return to conventional housing but not to manufactured homes?  Bear in mind that FHFA data in 2018 reflected that manufactured housing can appreciate.  HUD Secretary Carson has pointed to that fact in some of his 2019 talks touting the potential of manufactured homes.

 

 

Democratic lawmakers have pressed the Consumer Financial Protection Bureau (CFPB) to investigate Clayton Homes and their affiliated lenders.  Several of them are 2020 hopefuls.  That report can be accessed via the text-image box below. 

 

Senate Democrats – Including 2020 Presidential Contenders – Ask CFPB Protect Consumers Against Predatory Lenders — Point Finger at Clayton Homes, Berkshire Hathaway Lending

 

The non-partisan Manufactured Housing Association for Regulatory Reform (MHARR) is asking for Congress to investigate what they have deemed is the failed roll-out of the GSEs of Fannie Mae and Freddie Mac’s Duty to Serve or DTS. One example of their concerns is reflected in their report, linked below.

 

MarkWeissDTSQuoteManufacturedHousingAssocRegulatoryReformMHARRDailyBusinessNewsMHproNews

George F. Allen is increasingly seen as compensated MHI surrogate. Allen has pointed out the obvious, that MHARR is a sponsor of our website. But that’s out in the open, MHARR has banner ads here. What Allen fails to mention is that MHI used to sponsor MHProNews too. So too did Clayton Homes, and 21st Mortgage.  Our coverage of these issues began before MHARR became a sponsor, and while Berkshire brands and others with ties to MHI were still sponsors.  That’s evidence that our reports have been based upon our LLC’s own research and work, without favor.  We follow the facts, evidence, trends, common-sense, and the money trail. We give others an opportunity to respond to concerns. That’s arguably why our audience size and engagement levels on MHProNews dwarfs Allen’s and MHInsider’s combined. We are by far the #1 largest and most-read in MHVille. 

See the related reports below the byline for more.  That’s this morning’s pre-dawn edition of manufactured home “Industry News, Tips, and Views Pros Can Use,” © where “We Provide, You Decide.” ©. ## (News, fact-checks, analysis, and commentary.)

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Nicole Friedman, Ben Eisen, Wall Street Journal – Fannie, Freddie, Manufactured Homes, and MH Financing – Part 1

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https://manufacturedhousingassociationregulatoryreform.org/time-to-investigate-fannie-and-freddies-mishandling-of-dts/

HUD Secretary Ben Carson, Affordable Housing, Obscuring the Truth, Innovations in Housing, and Manufactured Homes

 

 

 

 

 

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Vanderbilt Mortgage and Finance Manufactured Home Loan Origination Data, Per Consumer Financial Protection Bureau

June 24th, 2019 No comments

 

VanderbiltMortgageFinanceClaytonHomesLoanDataReportDailyBusinessNewsManufacturedHomeMHProNews 

The following is the most recent summary information available currently from the Consumer Financial Protection Bureau (CFPB) on HMDA data for Vanderbilt Mortgage and Finance (VMF) loans on HUD Code manufactured homes.

 

VMF is the ‘captive’ lender for vertically integrated Clayton Homes-owned retail centers.

Metro Knoxville, TN based Clayton Homes and VMF, as thousands of manufactured housing industry professionals know, are wholly owned subsidiaries of Omaha, NE based Berkshire Hathaway.

HMDADisclosureSummaryCFPB2016DailyBusinessNewsManufacturedHousingIndustryMHProNews

HMDA loan disclosure summaries, national data, per CFPB, FFEIC, for the Daily Business News on MHProNews.

 

A companion report to this will be published tomorrow which reveals 21st Mortgage Corporation HMDA data for the same time frame.  As a point of reference, last year (2018) Clayton claimed that their 2017 market share was as follows.

ClaytonBuilt47.7percentMarketGraphic2017ShareDailyBusinessNewsMHProNews

The comparisons between 21st and VMF should be noteworthy.

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.

That’s this Monday night final

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George F. Allen is increasingly seen as compensated MHI surrogate. Allen has pointed out the obvious, that MHARR is a sponsor of our website. But that’s out in the open, MHARR has banner ads here. What Allen fails to mention is that MHI used to sponsor MHProNews too. So too did Clayton Homes, and 21st Mortgage. Our coverage of these issues began before MHARR became a sponsor, and while Berkshire brands and others with ties to MHI were still sponsors. That’s evidence that our reports have been based upon our LLC’s own research and work, without favor.

To submit a news tip, please click here: iReportMHNewsTips@MHMSM.com


HD’s Bernie Marcus Says Bernie Sanders ‘Enemy of Entrepreneur,’ plus Manufactured Home Stock Updates

June 24th, 2019 No comments

CNNmone6.24.2019ManufacturedHomeStocksMarketsReportsMHProNewsWhen it comes to affordable housing, as an upcoming Daily Business News on report will reflect here on MHProNews, saving existing housing is often among the most affordable options. That may sound counterintuitive for a manufactured housing trade publisher to say, but facts are facts. In order to grasp the housing market, and affordable housing side of that multiple trillion-dollar U.S. marketplace, one should have a general sense of the big picture.  On the 40th anniversary of the founding of home improvement giant Home Depot, right-of-center Fox Business interviewed co-founders Bernie Marcus and Ken Langone, which will be balanced by a left-of-center CNBC video. On a day when many of the broader market stocks and manufactured housing related firms were mixed, that will be our featured report for this evening.

 

If you’re new, already hooked on our new spotlight feature – or are ready to get the MH professional fever – our headline report is found further below, after the newsmaker bullets and major indexes closing tickers.

 

The evolving Daily Business News market report sets the manufactured home industry’s stocks in the broader context of the overall markets.  Headlines – at home and abroad – often move the markets.  So, this is an example of “News through the lens of manufactured homes, and factory-built housing.” ©

Part of this unique evening feature provides headlines – from both sides of the left-right media divide – which saves busy readers time, while underscoring topics that may be moving investors, which in turn move the markets.

Readers say this is also a useful quick-review tool that saves researchers time in getting a handle of the manufactured housing industry, through the lens of publicly-traded stocks connected with the manufactured home industry.

This is an exclusive evening or nightly example of MH “Industry News, Tips and Views, Pros Can Use.” © It is fascinating to see just how similar, and different, these two lists of headlines can be.

Want to know more about the left-right media divide from third party research?  ICYMI – for those not familiar with the “Full Measure,” ‘left-center-right’ media chart, please click here.

LeftRightMediaBiasFoxCNNCNBCManufacturedHousingIndustryMHProNews

CNN Business

  • Experts think oil demand could top out in 2035. Here’s what that means for the world economy
  • McDonald’s started using fresh meat. Here’s what happened to sales
  • Whole Foods is testing out a British meatless meat company
  • The Dow failed to hit a new record high
  • The Fed is likely cutting rates. Goldman Sachs says Wall Street isn’t giving them a choice
  • The diesel scandal just destroyed profit growth at Daimler
  • Ann Sarnoff named chair and CEO of Warner Bros. She is the first woman to run the studio
  • Hollywood is having a bad summer. It’s killing movie theater stocks
  • Wonders of the universe
  • Hiring a wealth adviser just got a little easier. There are still risks
  • Big Tech must be regulated now, Bill Gates says
  • Super rich call for tax on the wealthy
  • The economy is still bruised from the Great Recession
  • Toys ‘R’ Us plans to return in the United States
  • Overstock’s exit from retail is getting back on track
  • Kohl’s won over moms. Now it’s going after Millennials
  • The future of Lululemon is men’s clothes and shampoo
  • Believe it or not, dollar stores are thriving
  • BUSINESS OF CANNABIS
  • ‘Museum of Weed’ comes to Hollywood
  • Cannabis sales could hit $15 billion globally this year
  • Veteran cannabis company Harborside joins wave of US firms listing on Canadian exchange
  • Thrive Market, an online retailer, is forced to stop selling CBD
  • Why cannabis stocks are soaring
  • SpaceX’s Falcon Heavy will launch Bill Nye’s science experiment into orbit
  • The world’s favorite super-cheap computer just got a big upgrade
  • Xiaomi's latest devices are aimed at a younger user base.
  • Xiaomi asked art majors to help design its latest smartphones
  • Baby Elon Musk, rapping Kim Kardashian: Welcome to the world of silly deepfakes

Fox Business

  • Stocks mixed on rising US-Iran tensions, Trump-Xi meeting
  • Bitcoin hits $11K: A timeline of cryptocurrency’s rise, fall and rebound
  • George Soros among billionaires asking for wealth tax
  • Average retirement-age Americans have this much in their 401(k), report says
  • ‘Toy Story 4’ tops weekend box office[overlay type]
  • MEDIA & ADVERTISING
  • ‘Toy Story 4’ tops weekend box office
  • “Toy Story 4” brought the box office to life following a three-week slump of underperforming sequels.
  • Supreme Court rejects challenge to Trump’s tariffs on imported steel
  • WATCH: Home Depot co-founder: Bernie Sanders is the ‘enemy of every entrepreneur’
  • Eldorado Resorts to buy Caesars Entertainment in $17.3B deal
  • Trump signs executive order to impose ‘hard-hitting’ sanctions on Iran
  • Gold climbs toward 6-year peak on heightened US-Iran tensions, dovish central banks
  • Justin Bieber vs Tom Cruise fight would be UFC’s richest purse ever, Dana White says
  • Bill Gates says he made this ‘very large sacrifice’ during Microsoft’s early years
  • Employees need these 3 things in the workplace to find happiness, expert says
  • JetBlue sues Walmart over Jetblack for trademark infringement: report
  • Microsoft prohibits employees from using Slack, report says
  • George Soros among billionaires asking for wealth tax
  • Beto O’Rourke proposes ‘war tax’ to fund health care for US vets
  • Varney: When it comes to money, America makes it rain
  • Trish Regan: Trump shows real strength on Iran
  • Student loan regrets: Don’t be a victim
  • White House gears up for highly-anticipated Trump, Xi meeting at G20
  • Elon Musk says humanity is facing an ‘aging and declining population’
  • Florida nets $17B as wealth relocate from high-tax states: Report

 

Today’s markets and stocks snapshot, at the closing bell…

9MarketIndicatorsYahooFinance6.24.2019DailyBusinessNeawsManufacturedHousingIndustryStocksMarketsReportsDataMHProNews

 

Today’s MH Market Spotlight Report –

 

BernieMarcusHomeDepotCoFounderSaysSocialistBernieSandersEnemyofEntrepenuersManufacturedHomeMHProNews

Still from video, below.

 

Having covered several topics last week through the lens of left-of-center media, we’ll turn this evening to a right-of-center business news source first before providing some balance from left-of-center CNBC.

Fox Business interviewed co-founders Bernie Marcus and Ken Langone on the challenges they faced getting the retailer off the ground to become the success it is today and the potential pitfalls of socialism.

The co-founders of Home Depot spoke in part about Bernie Sanders (VT-I) who caucuses with Democrats and is running for the 2020 Democratic nomination for president.  If the self-described Democratic Socialist Sanders were president when they tried to open their business in 1978, the home-improvement retailer may never have existed, said billionaires Marcus and Langone.

Home Depot is the poster child for capitalism,” Marcus said.

 

 

Langone agreed, “if the people in America today … if they want to know what the future holds for them following Bernie Sanders, go to Cuba, Venezuela, Russia, Eastern Europe. Guess what? It doesn’t work.”

BernieSandersIsEnemyofEveryEntrepreneurEverGoingtobeBornOrHasBeenbornQuoteBernieMarcusHomeDepotCoFounderMHProNews

The pair also weighed in on the vexing tariffs and trade issue and related issues that Kevin Clayton, President and CEO of Berkshire Hathaway owned Clayton Homes tackled in May on left-of-center CNBC.

 

 

 

Lagone and Marcus have their say in the video above, while those who may have missed Kevin Clayton’s say is found below.

 

Someone with the handle CC posted a comment on Clayton’s video interview above that said: “sounds like your company is filling your homes with Chinese made products, if the price is going up, why not consider something made in the US?

Related Reports:

 

Andy Gedo, Partner at ManageAmerica, Raises Clayton Homes Monopolistic Practices Debate; Manufactured Housing Institute Related Issues

 

Surprising Non-Partisan Revelations, Opportunities, Controversies Could Decide 2020 Campaigns – Affordable Housing, Antitrust, Wealth Inequality, and Manufactured Homes

 

Yahoo Finance Closing Ticker for MHProNews…

NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services.

NOTE: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).

YahooManufacturedHousingIndustryConnectedStocksDailyBusinessNewsMHProNews

Updated:

Berkshire Hathaway is the parent company to Clayton Homes21st Mortgage, Vanderbilt Mortgage and other factory built housing industry suppliers.

LCI Industries, Patrick, UFPI, and LP all supply manufactured housing.

AMG, CG and TAVFX have investments in manufactured housing related businesses.

Your link to industry praise for our coverage, is found here.

For the examples of our kudos linked above…plus well over 1,000 positive, public comments, we say – “Thank You for your vote of confidence.”

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(Image credits and information are as shown above, and when provided by third parties, are shared under fair use guidelines.)

Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.

To submit a news tip, please click here: iReportMHNewsTips@MHMSM.com


Nicole Friedman, Ben Eisen, Wall Street Journal – Fannie, Freddie, Manufactured Homes, and MH Financing – Part 1

June 24th, 2019 No comments

 

NicoleFriedmanWallStreetJournalBerkshireHathawayInsuranceReporterFannieMaeFreddieMacFHFAManufacturedHousingInstituteClaytonHomesMHProNews600LogoPhoto

Photo on left, credit, Wall Street Journal. Collage credit, MHProNews.

Nicole Friedman and Ben Eisen were the co-authors on a story for the Wall Street Journal entitled, “Fannie and Freddie’s Latest Push: Factory-Built Homes,” with a subtitle: “Mortgage giants hope to help low- and middle-class Americans buy homes but programs’ narrow reach and consumer bias impede progress.”

 

This will be part one of a planned multiple part fact-check and analysis of that article.

Headlines are not always written by the reporter(s). Headlines and subheadings are often provided or tweaked by editors. Indeed, when an article is published, editors bear some level of responsibility for the contents and accuracy of that article.

Ben Eisen’s Twitter feed includes these pull quotes from last week:

  • “Fannie and Freddie are making a push into the opaque world of manufactured housing, a surprisingly complex task”
  • “The gatekeepers of America’s housing market want to make it more affordable to buy a manufactured home. So far, they have found it a tough sell.”

Those statements are fair enough. Indeed, they merit more reflection in upcoming reports on MHProNews. For example, why is manufactured housing “opaque” – isn’t that a fair question?

Indeed, the subheading cited above itself sets up a clear contradiction.

Congress mandated lending on manufactured homes by the Government Sponsored Enterprises (GSEs) of Fannie Mae and Freddie Mac.  What Congress didn’t do is tell the GSEs that they could force manufactured home producers to create a so-called ‘new class’ of more expensive HUD Code manufactured homes, and offer competitive lending only on those units.

The ‘new class’ of manufactured homes that the GSEs are lending on is a type of costlier HUD Code manufactured housing that Clayton Homes and their association mouthpiece, the Manufactured Housing Institute (MHI), has supported. So, whomever at the WSJ is responsible for that subheading wittingly or not set up a contradiction that is not clearly addressed.

Congress wanted lending on all types of manufactured homes precisely to promote affordable housing.  But Clayton Homes – which is well known for moving into conventional housing – with the cover of MHI support, is promoting an entirely different kind of home that is NOT available to those ‘low and lower-middle class’ buyers’ that Congress had in mind when enacting the Housing and Economic Recovery Act (HERA) of 2008. Is there a conflict of interest at play between MHI’s claimed mission and Clayton Homes desire to sell more expensive housing?

There are millions today who believe in fake news.  In fairness, there are some reports that are reasonably agenda-free. Others are heavily tainted by spin, a hidden, or sometimes obvious agenda.  Therefor, the prudent reader must approach each article with a degree of skepticism. Some questions that a truth-seeking reader ought to ask in discerning a report or article could include: is the article or report balanced?  Are several points of objectively view represented?

With those points and tests for bias understood, the Daily Business News of MHProNews will do the first of what promises to be a multiple part fact-check and analysis of a new report by Nicole Friedman and Ben Eisen of the mildly right-of-center Wall Street Journal (WJ).

 

WallStreetJournalLeftRightBiasSharylAttikissonManufacturedHousingMHProNews

 

Eisen’s LinkedIn profile reflects the following.

 

BenEisenBankingReporterWallStreetJournalFannieMaeFreddieMacGSEsFHFAManufacturedHomeLoansClaytonHomesManufacturedHousingInstituteMHProNews

 

The 411 according to the Wall Street Journal on Nicole Friedman is as follows.

Nicole Friedman covers Berkshire Hathaway and insurance for The Wall Street Journal.”  A headline from that same search reveals this by Friedman, “Berkshire Hathaway has underperformed the S&P 500 for a decade, forcing Warren Buffett into a position he rarely resides: on the defensive.”

Friedman’s Twitter feed includes the following pull quote:

  • Manufactured-home builders are trying to erase their industry’s stigma, and they’re hoping Fannie Mae and Freddie Mac can help. Warren Buffett’s Clayton Homes has a lot at stake.”

For first-time readers, let’s note that MHProNews for some years has often turned direct quotes bold and brown to make them pop but otherwise the text is as quoted.

Friedman’s LinkedIn profile is shown below.

 

NicoleFriedmanWallStreetJournalBerkshireHathawayInsuranceReporterFannieMaeFreddieMacFHFAManufacturedHousingInstituteClaytonHomesMHProNews

 

Let’s look at some pull quotes from their WSJ article:

  • This [loan] product hasn’t been about volume. It’s about changing expectations,” said Jonathan Lawless, vice president of product development and affordable housing at Fannie Mae. “We’re going to get to volumes, but given all that has to change, it is going to take a frustratingly long period of time.”
  • A precrisis [the 2008 housing/mortgage crisis] effort by Fannie Mae to treat manufactured homes like site-built properties fizzled. In 2008, when Congress put the two companies into government conservatorship, it told them to promote affordable housing, including by taking a more active role in this market.”

 

The first bulleted statement above citing Lawless is surprising on several levels.  That will be unpacked in a future report.

The second one is equally noteworthy. There have indeed been several prior efforts for the GSEs to get involved in manufactured housing. To say that they “fizzled” leaves one asking, why?  What happened that caused lending on manufactured homes to ‘fizzle’ for the GSEs, when 21st Mortgage Corp, Vanderbilt Mortgage and Finance (VMF), ECN owned Triad Financial Services (TFS), Credit Human and others lending on manufactured homes could get loan performance and volume, and the GSEs could not?

Eisen and Friedman don’t explain that phrase to their readers. Nor do they clearly address the question above.

 

Lack of Balance in Sourcing?

Nor does Eisen and Friedman disclose that they never contacted the National Association of Manufactured Housing Community Owners (NAMHCO), per an official with that organization to MHProNews. Given that Eisen and Friedman mentioned that a ‘new class’ manufactured home was delivered into a land-lease community from the National Mall and the Innovative Housing Showcase earlier this month, one might wonder why they failed to contact that trade group?

But more troubling is the fact that Eisen and Friedman, per sources, contacted the Manufactured Housing Association for Regulatory Reform (MHARR). Why was MHARR not mentioned at all in the WSJ story, given that they interviewed MHARR President Mark Weiss, JD, for about an hour?

MHProNews asked the Wall Street Journal writers about those questions.  They replied on other points they were asked about, but not yet on those concerns regarding NAMHCO and MHARR. A WSJ editor was also contacted and has not yet replied. In fairness, it was getting late in the day. So they may still provide follow up replies to our inquiries.

It must be noted that MHLivingNews reported on Saturday about a letter from Senator Tina Smith (MN-D) to a bipartisan group of Senate lawmakers, urging a broader application of lending on manufactured homes by the GSEs in the upcoming housing reform.  That report is linked below.

 

While Senator Smith doesn’t mention MHARR, and cites different examples, it is noteworthy that Smith and MHARR – from different vantagepoints – share a similar concern. Namely, that the GSEs are not living up to their Congressional mandate to properly support manufactured home lending.  MHARR argues that after over a decade of delays, that sad fact of a ‘flawed’ roll out of the GSEs Duty to Serve (DTS) mandates merit congressional inquiries.

It is one of several points that the WSJ story as published missed or failed to flesh-out in a meaningful fashion.

Part two of this planned multiple part analysis and fact check of the Eisen and Friedman article on manufactured housing is planned for later this week, to give the pair and their editors an opportunity to respond to follow up questions from MHProNews.

That today’s second installment of manufactured home “Industry News, Tips, and Views Pros Can Use,” © where “We Provide, You Decide.” ©. ## (News, fact-checks, analysis, and commentary.)

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Driverless Trucks Coming to Big Box, Will Emerging Tech Impact Manufactured Housing Deliveries?

June 24th, 2019 No comments

 

DriverlessTrucksComingBigBoxWillEmergingTechImpactManufacturedHousingDeliveriesDailyBusinessNewsMHProNews

Still from video below.

Big box retailer Walmart – and other retailers like Amazon – are exploring the use of automated, driverless trucking technologies, says Newsmax and other sources. 

 

It is a development that the trucking industry is keenly aware of, so should manufactured home movers be concerned? 

Let’s start this report with some background.

Amongthe first driverless semi-trucks is already driving, legally, on the highway’s of Nevada. Businessweek’s Sam Grobart went to Las, Vegas for a test drive,” said Bloomberg. That video report is posted below.

 

 

There is a severe shortage of truck drivers that exceeds 60,000 unfilled long-haul positions, according the American Trucking Associations. 

Walmart Inc. came to dominate retailing through its mastery of logistics—the complicated choreography of getting goods from farm or factory to the consumer. But even the world’s biggest store doesn’t make money selling its wares online in the U.S., largely due to runaway shipping costs. So Walmart (WMT) is turning to robots,” according to Newsmax.

Walmart’s U.S. chief logistics professional, Greg Foran recently took reporters to a curbside package pickup kiosk outside its supercenter in Rogers, Arkansas. Three Ford delivery vans there were outfitted with self-driving technology developed by a Gatik, a Silicon Valley startup. Gatik aims at cutting Walmart’s middle-mile shipping costs in half. Going driverless in pursuit of profit is a “no-brainer,” Foran said.

It’s not driverless taxis, but driverless trucks that some experts say are looming just ahead.

Moving products, not to customers, but between “middle miles” could reach $1 a trillion market and could provide retailers with the fastest path to prosperity.

This area has the least number of obstacles and the most certain return on invested capital in the near term,” said analyst Mike Ramsey, with consulting firm Gartner Inc. “If you’re looking to start a business where you can actually generate revenue, this has fewer barriers than the taxi market.”

This middle mile is the most expensive part of the whole supply chain; it’s a huge pain point,” said Gautam Narang, CEO of Gatik, the firm attempting to automate Walmart’s “hub and spoke” warehouse system. “This fills a big gap in the market.”

Anything on driverless delivery that is a milk run is a good application for autonomy,” said Sherif Marakby, chief executive officer of Ford’s autonomous vehicles unit. “B2C is a complex implementation for autonomy that will come with time, but B2B just makes it easier because you get volume and you can be more predictable.”

Put differently, those on the inside of these developing technologies say that business-to-business, or B2B, delivery is easiest way to navigate to profitability in driverless trucking. It has less complex than ride-hailing or driverless delivery business to consumers, known as B2C or the last-mile.

 

Is This Potentially Going to Impact Manufactured Home Trucking Soon?

The short answer, according to producers who are independent as well as those working in large industry companies, ‘no.’

Not even close [to being implemented in manufactured home transport],” said one of the largest producers of manufactured homes in the U.S. “Packages and house [are] two different thing and ROI long way out.”

An independent producer told MHProNews that “They aren’t even using robotics in… [HUD Code manufactured home] factories. Oversized loads will be an extreme challenge for driverless vehicles. The home is never in one lane, programming to be outside of any legal driving envelope will be a huge challenge in my opinion.”

No one said they are aware of any such plans to move manufactured homes autonomous of a human driver at present. That should be comforting to manufactured home ‘toter’ drivers.

Be that as it may, trucking labor shortages, new tax incentives to invest in equipment or automation, and other factors could turn “not even close” into something that might be tested in the foreseeable future. MHProNews will monitor such emerging trends in business and report as relevant.

 

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

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsNOTICE: You can get our ‘read-hot’ industry-leading emailed headline news updates, at this link here. Connect on LinkedIn here.(Related Reports are further below. Third-party images and content are provided under fair use guidelines.)

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Submitted 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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Senate Democrat Specifically Urges Broader Manufactured Housing Lending, Bipartisan Approach to GSE Reform

Blueprint Robotics Disruptive Aim at Modular Housing, and Factory-Building Technology

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

 

 

 

 

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