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Strong U.S. Jobs Report, Markets Slide, plus Manufactured Housing Stock Updates

July 5th, 2019 Comments off

CNNmone7.5.2019ManufacturedHomeStocksMarketsReportsMHProNewsIn the sometimes-topsy-turvy world of investors good news can be bad news. The U.S. jobs report was surprisingly strong, which causes some analysts to fear that the Fed now may hold off on an interest rate cut. Other factors covered in our financial bullet headlines are below.  Our spotlight this evening will be on sectors that gained jobs – most – and the pair that reported losses in employment.

 

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

  • Privacy not included
  • PodShare Downtown Los Angeles
  • Housing is so expensive that some people in California rent bunk beds for $1,200 a month
  • US economy adds 224,000 jobs in June
  • Dow rebounds after initially falling on strong jobs report
  • Here’s how the jobs report may impact the Fed
  • Chinese real estate empire in crisis founder detained for alleged child molestation
  • Samsung warns that its profit likely just fell 56%
  • BMW’s chief executive steps down
  • Jaguar Land Rover boosts a UK car industry rattled by Brexit
  • India will cut taxes and red tape to lure companies like Apple
  • CEO’s ouster at Canopy Growth highlights growing pains for cannabis industry
  • US government asks judge to dismiss Huawei lawsuit
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  • Auto industry icon Lee Iacocca has died. He was 94
  • Today we have visionaries like Elon Musk and Mary Barra. But there was only one Lee Iacocca
  • A look back at Iacocca’s career

Fox Business

  • Strong June jobs data comes as Fed Chair Powell heads to Capitol Hill next week
  • US job growth rebounds with 224,000 created in June, quelling fears of economic slowdown
  • Where are all of the jobs? These sectors added the most in June
  • Why a rising unemployment rate signals job demand
  • Will the Fed lower interest rates, despite a better-than-expected jobs report? Traders say yes
  • Common car buying mistakes to avoid
  • WATCH: Larry Kudlow reacts to strong jobs report
  • FedEx offers 24-hour passport processing — but it comes with a hefty price tag
  • Trump considering executive order to add citizenship question on 2020 census
  • As student loan debt mounts, high schoolers ‘shockingly’ unaware of aid options
  • It’s time to fix Social Security’s tax burden
  • Social Security benefits go furthest in these 25 countries: report
  • Pet Supplies Plus recalls pig ear dog treats over possible salmonella contamination
  • Biden endorses ObamaCare’s individual mandate that requires Americans to buy health care
  • MoviePass halts service to complete app improvements amid summer blockbuster season
  • Opinion: Low-skill worker shortages must be part of immigration discussion
  • Amazon turns 25: How Jeff Bezos forever changed the way people shop
  • ‘Wolf of Wall Street’ producer charged with laundering $248M in Malaysian scandal
  • How long will the US economic boom last?
  • Not a surprise OPEC, Russia decided to extend their cuts: Oil analyst
  • Using the lessons learned as a Marine to become an entrepreneur

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

9MarketIndicatorsYahooFinance7.5.2019DailyBusinessNeawsManufacturedHousingIndustryStocksMarketsReportsDataMHProNews

Today’s MH Market Spotlight Report –

StrongUSJobsReportMarketsSlidePlusManufacturedHousingStockUpdatesMHProNews

Left-of-center CNBC studied the net changes of jobs by industry for June jobs based on the data from the Labor Department contained in the jobs report. The federal agency said the U.S. economy added a 224,000 jobs last month, some 59,000 more than the 165,000 increase expected by economists polled by Dow Jones. The right-of-center Fox Business video recaps the numbers with their commentary.

The manufacturing industry, which President Donald J. Trump likes to spotlight, was stronger in June with an additional 17,000 jobs. The manufacturing sector added just 3,000 jobs in each of both May and April following a contraction in March.

In June, notable job gains occurred in professional and business services, in health care, and in transportation and warehousing,” the Labor Department said in a release. “Professional and business services added 51,000 jobs in June, following little employment change in May (+24,000). Employment growth in the industry has averaged 35,000 per month in the first half of 2019.”

Manufacturing employment edged up in June (+17,000), following 4 months of little change,” the Labor Department continued. “So far this year, job growth in the industry has averaged 8,000 per month, compared with an average of 22,000 per month in 2018.”

June2019JobsGrowthLossBySectorCNBCManufacturedHousingMHProNews

 

Those who looked at the tepid jobs report last month said that it suggested that a recession was ahead. That theory keeps getting floated, but there is steady evidence that such is not the case.  The outlook is good, and what happens on Election Day 2020 could clearly impact the economy.  So what occurs between now and then will be important to watch.

Related Reports:

NFIB President Touts Optimism, Says Capital Spending, Expansion, and Sales Expectations Drive Performance – Plus Manufactured Housing Stock Updates

 

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).

ManufacturedHousingConnectedStocksClosingTickerYahoo7.5.2019.MHProNews

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.”

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

(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.

Tic Toc – July 4th, Tim Williams 21st Mortgage, John Greiner, JD, Graydon Law – Message Review

July 5th, 2019 Comments off

TicTockJuly4thTimWilliams21stMortgageCorpJohnGreinerJDGraydonLawMessageReviewDailyBusinessNewsMHProNews

Part of the ‘secret’ for legal victories can be consistency, procedures, and documentation.

 

TimWilliams21stMortgageCEOMHProNews

Tim Williams, prior MHI chairman, president and CEO of 21st Mortgage Corp, photo credit, MHProNews.com

There is little doubt that Tim Williams, President and CEO of Berkshire Hathaway owned 21st Mortgage Corporation and his company has vastly more experience in legal matters than our far more modest operation does.

It should similarly stand to reason that the outside attorney for the Manufactured Housing Institute (MHI), John “Jack” C. Greiner with Graydon Law would likewise have more experience in legal matters than little ole us. Per Graydon’s website, “Jack is a commercial litigator with an emphasis on communications and media law. He is one of the region’s leading advocates for governmental transparency.” Transparency, how interesting. That’s one we’ll all have to place in our memory file. Jack, should nonprofits, corporations, and their officers be transparent too?

That said, it would not be surprising if they would agree with the first sentence at the top. Juries and judges look for consistency, evidence, facts, and common sense.  The court system – judges and juries – also keep an eye out in cases for inexplicable, odd, or behavior that is in conflict with their stated claims. It’s been many years since we’ve been involved in any litigation, over a decade in fact. Though it is rarely fun, we recall the lessons, and have routinely been successful on the rare occasions it was necessary.

The truth backed by evidence is an often powerful thing. My hunch is that the other side has carefully researched that claim, and knows it to be accurate.  

 

Consistency?

In 2017, 2018, and 2019 were some of the years when messages and letters were sent to the management of MHProNews by attorneys for MHI, as well as by purported surrogates for the Arlington, VA based trade group. Those messages were threats, legal or not, and arguably attempts at intimidation.

Part of our consistent response has been to call out those actions publicly but also to invite them to reply to our many fact-checks, related analysis, and reports. In early 2017 and previously, responses from Berkshire Hathaway brands and/or MHI were swift, as numerous articles and letters published over the years reflects. Williams was among several MHI leaders who publicly praised this publication publicly and in writing.

 

TimWilliams21stMortgagePublicationDailyBusinessNewsMHProNewsMHLivingNews

It was apparently only as reasonable answers to reasonable questions posed by MHProNews became elusive for the Omaha-Knoxville-Arlington axis that they stopped replying directly.  But they often used indirect means to communicate, including those noted above. 

Those patterns of behavior could prove relevant in several ways the days ahead.

 

Shifting Sands in Washington and Beyond

The dynamics in Washington, D.C. are shifting rather significantly in recent months. There are some things, as Warren Buffett correctly observed, that just take time.

·        Antitrust drums are heating up on both sides of the left-right political aisle.

·        More in Congress are talking and writing about the Duty to Serve, and why it hasn’t been fully implemented with respect to manufactured housing.

·        Affordable housing, homelessness, zoning, regulatory barriers, and even enhanced preemption are being discussed by more people in and out of the industry.

Slow, steady progress is apparently being made.

Those are all topics that are largely found in manufactured housing trade media only on MHProNews and MHLivingNews. Why? The Manufactured Housing Association for Regulatory Reform has been on several of those topics for years, to their credit.

But by contrast, MHI sycophants are mute or deflect from those topics. Why?

MHI themselves tout their latest photo op, their latest lightly viewed videos, or the newest bill that they support. Those are all apparent razzle dazzle, but where is the beef?

Where are the bottom line results as measured by new manufactured home shipments?  Given the MHI claim that they are the umbrella trade group that should ‘lead’ the industry, what direction has that MHI leadership actually taken MHVille at large?

The facts speak loudly.

ManufacturedHousingIndustryProductionShipmentsMay2019DailyBusinessNewsMHproNewsMHARR 

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Tic Toc, Tic Toc… 

Moments, minutes, hours, days, weeks, months, and years go by. Some things only gain clarity from the passage of time and consistent observations. As Warren Buffett aptly said, the rear view mirror is clearer than the windshield. This is a point of agreement between our publication and Mr. Buffett.

 

InBusinessWorldRearViewMirroIsAlwaysClearerThantheWindshieldWarrenBuffettMHProNews

 

It was about 5 years ago that we brought to the industry’s attention the full length video version of this now better-known 18 second video clip.

  

 

That comment by MHI’s president made no sense at the time, but in hindsight it was arguably a piece of a puzzle. 

Because it was an odd and embarrassing MHI comment, not long after, during a time when Tim Williams at 21st was still in rapid-reply mode with MHProNews, and while this writer was still an MHI member, MHProNews asked Williams/21st – then MHI’s chairman – to have MHI’s Jennison clean that comment up publicly.

Williams agreed.

Jennison, no doubt with Williams’ prompting, did so on video camera and in front of dozens of industry professionals.  MHI’s president pledged both that the industry could achieve 500,000 new HUD Code manufactured home shipments as well as promised the passage of the Preserving Access to Manufactured Housing Act. 

 

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

 

Neither one has come to pass. Both are part of the MHI Orwellian ‘memory hole.’ 

Words can be cheap at MHI, it seems?  

JohnCGreinerAttorneyPhotoGraydonlawLogoDailyBusinessNewsMHproNewsWith the industry now into its ninth month of year-over-year downturn, MHProNews sent the following to Tim Williams/21st, John Greiner, and one of Greiner’s colleagues at Graydon Law. Greiner is MHI’s outside attorney assigned, said Greiner, to monitor our website.  MHI members, that’s where part of your dues are going to, why not rather to suing cities like Bryan, TX for failure to abide by enhanced preemption

That logical but rhetorical question aside, the meat of that message’s contents is shown below, between the dashed lines.

 

 

Subject: Tim, a formal request for you/MHI

Tim,

1)    Let me hereby request copies of any and all audio or other recordings, notes, emails or any records in any format relative to our discussion in Las Vegas during the dinner we shared with your colleagues from Berkshire Hathaway brands in the context of that year’s Congress and Expo.

2)    You and/or your colleagues are also hereby invited to respond to any of our recent or other reports.  See the below. Please email those for our mutual accuracy in handling said comments.

Thank you. 

Tony

http://www.MHProNews.com/blogs/daily-business-news/but-i-was-born-free/

Other articles are linked from the forward below. Thank you. 

tk

 

The screen capture that documents that email is found below.

 

TimWilliams21stMortgageCorpJohnCJackGrienerGraydonLawManufacturedHousingInstituteMHIOutsideattorneyMHProNews

 

We will report back on what response, if any, is obtained. 

Until then, let this be kept in mind by investors, professionals, researchers, public officials, attorneys, investigators and others.

·        There is an affordable housing crisis.  Yet with numerous positive reports that debunk the myths and misconceptions often held by the public, somehow, magically, the industry is shirking in new home shipments? Why are MHI staff given bonuses instead of being terminated for lack of performance?

·        HUD Secretary Ben Carson has valiantly laid out a thoughtful case for manufactured housing.

·        On MHI’s own website, examples of those important topics are difficult or impossible to find, and Carson’s fine speeches are not to be found.

·        Manufactured housing is now into 9 months of year-over-year declining shipments.

 

By contrast, on MHARR’s website, topics like “enhanced preemption” are easy to find several articles. An MHI state affiliate successfully obtained a letter from HUD invoking enhanced preemption, so why not MHI? Yet MHARR is a fraction of the size of MHI, and has been online only a fraction of the time that MHI has.

Which association is doing their stated job better?

To George F. Allen’s [past] credit, his blog does raise some of these same issues and concerns.  But he has contradicted himself in arguing in recent months for MHI, the Berkshire brands, and larger community operators that behaved in problematic ways – per Allen.  Rephrased, Allen – without public explanation, other than what sources say is a compensated flip-flop – has gone from criticizing Clayton, 21st, MHI and others, to now being their cheer leader.

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Frank Rolfe swore off commenting about MHI further publicly, but he and Dave Reynolds recently took this swipe at MHI. They are MHI members, taking a shot at their own trade group. http://www.mhmarketingsalesmanagement.com/blogs/daily-business-news/frank-rolfe-dave-reynolds-both-finger-manufactured-housing-institute-mhi-failures-in-writing-again/

GeorgeFAllenCommunityInvestorEducateMHCSECOcoba7MonopolyConsolidationClaytonHomes21stMortgageBerkshireHathawayQuotesManufacturedHomesCommunitiesMHproNews

More on this below.

Allen, more recently has called for a boycott of this publication, a possible antitrust violation, and has urged his readers to only read other trade media in manufactured housing that he has personally approved.  Ironically, one of those publications – Kurt Kelley’s – has praised our work, and said that they are leaving our call for accountability to us.  Interesting, isn’t it?

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Indeed, Kelley has contributed to MHProNews numerous times over the years, and has commented on political topics too. He published an article by Berkshire Hathaway unit manager Joanne Stevens, which without mentioning MHI, was clearly slamming them for what her article in MHR saw as a failure of industry preparation for obvious attacks on the industry.

 

Some things take time.  With a shifting political climate in America, it may only be a question of time before topics and issues found only on MHProNews, MHLivingNews or on the MHARR websites may become more common headlines and topics elsewhere in Washington, and then the mainstream media.

 

Unorthodox 

This writer freely admits that some of what we have done in trade publishing has been unconventional by MHIndustry standards. It was also never my or our publications’ ambition to stumble into troubling facts via news tips about the underlying causes for so many of our industry’s woes. But once discovered, where we supposed to ignore them?  Turn a blind eye as others do?  Cower in fear over every threat? 

If the industry is to regain its former glory and surpass it while independents still have an opportunity, it will only happen when enough honest professionals and other people of good will stand up and force the issues.

BloombergShipmentProductionGraphicManufacturedHousingIndustryDailyBusinessNewsMHProNews

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

That said, what has harmfully impacted thousands of independents in manufactured housing has arguably been largely avoidable, and it has harmed the interests of millions of our fellow Americans. Unconventional situations can’t always be addressed in the normal ways.

 

MobileHomeEraManufacturedHomeEraMHIA2000EraShipmentProductionDailyBusinessNewsMHproNews2019-06-29_1051

There are several factors that should be understood to explain the rises and falls in the sales, production, and shipments of new factory-built homes during the varied mobile home and manufactured home eras. One should not be overly simplistic. That said, the historic trend is far higher than it has been since Berkshire Hathaway acquired Clayton Homes and their affiliated lenders. Political and other factors enter into the mix as well.

Keep in mind, we’ve spotlighted examples of these topics for years, beyond having the most extensive coverage of industry stocks, business and other news. A first look at our June 2019 traffic suggests a record month for readership. Our thanks to readers like your, our business development clients, and our sponsors who make this possible.

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MHProNews’ parent operation demonstrated to MHI over the course of years options for lending, and ways to improve image at a low cost. For years, even though our parent operation as an MHI member showed the way to grow business, MHI leaders ignored those options. Why? Could it be that slow growth or negative growth allowed more consolidation and at a cheaper price for big boy companies

 

Given the choice, thoughtful professionals can discern fluff and cheerleading from logic, fact-checks, and evidence. Perhaps that’s why we are the industry’s most read, and the others that cheerlead for MHI merely lag behind. The manufactured housing industry is arguably engaged in an undeclared war, and has been since 2003.  The big boys have decided to conquer MHVille, and the remaining independents have to recognize and decide to sell out, fold, or resist. The odds favor the big boys, but when the 13 colonies declared their Independence the odds favored the Brits of that era. This too is doable. This undeclared war is winnable. 

ManufacturedHmeIndustryAchieveGreatPotentialAddressingResolvingCauseCorePerceptionIssuesLATonyKovachQuotePresentationPhoto

When the 13 colonies declared their independence from Britain, they were taking on the most powerful army and navy in the world. The odds were against the rebels. But after a long struggle, the U.S. became independent. Freedom is never free. It always comes at a cost. But the price is lower, and the cause of freedom far nobler, than the cost of bondage and servitude.

We Provide, You Decide.” © Dig into the related and linked reports above and below to round out the picture. Let’s restore the American Dream, starting with an understanding of Independence Day. ## (News, analysis, fact-checks, and commentary. All third-party images and content are provided under fair use guidelines for media.)LATonyKovachQuoteManufacturedHousingIndustryWontReachPotentialAddresscoreIssuesArtificallyholdingitback466

L. A. ‘Tony’ Kovach is co-founder of MHLivingNews and MHProNews. He is a highly acclaimed industry expert and consultant, a managing member of LifeStyle Factory Homes, LLC, and is a 25 plus year award-winning manufactured home industry professional. Kovach earned the Lottinville award in history at the University of Oklahoma.

 

 

 

 

 

 

Related Reports:

Click on the hot-linked text-image boxes below to learn more.

“But I Was Born Free”

 

 

 

Nobility Homes Bucks National Trends, Reported Serious Growth, plus Manufactured Home Stock Updates

 

 

 

 

 

 

 

Nobility Homes Bucks National Trends, Reported Serious Growth, plus Manufactured Home Stock Updates

July 3rd, 2019 Comments off

CNNmone7.3.2019ManufacturedHomeStocksMarketsReportsMHProNewsNobility Homes (NOBH) is a bright spot in the constellation of firms in the manufactured housing industry. Frankly, it is frustrating to report 9 months of year over year declining sales for the industry, when we as industry experts know that the overall declines are avoidable. Nobility is part of the proof that even when the industry in general has avoidable taken a slide, they have risen in a significant way.  On a day when the markets overall and most industry tracked stocks rose, Nobility Homes (NOBH) is our featured report 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.

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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Fox Business

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  • Small business owner: Worst year ever for finding part-time employees

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

9MarketIndicatorsYahooFinance7.3.2019DailyBusinessNeawsManufacturedHousingIndustryStocksMarketsReportsDataMHProNews

Today’s MH Market Spotlight Report –

NobilityHomesBucksNationalTrendsReportedSeriousGrowthPlusManufacturedHomeStockUpdates

Nobility Homes, Inc. (NOBH) announced sales and earnings for its second quarter that ended May 4, 2019. Sales for the second quarter of 2019 were up 43% to $12,742,688 as compared to $8,922,264 recorded in the second quarter of 2018, per a press release from AccessWire.

Income from operations for the second quarter of 2019 was up 79% to $2,135,726 versus $1,191,947 in the same period a year ago.

Net income after taxes was up 60% to $1,819,725 as compared to $1,135,605 for the same period last year.

Diluted earnings per share for the second quarter of 2019 were $0.47 per share compared to $0.29 per share last year.

For the first six months of fiscal 2019, sales were up 28% to $23,782,462 as compared to $18,568,082 for the first six months of 2018.

Income from operations was up 71% to $3,907,557 versus $2,282,104 last year.

Net income after taxes was up 56% to $3,355,531 compared to $2,151,841 last year.

Diluted earnings per share were $0.87 per share compared to $0.54 per share last year.

Nobility’s financial position for the first six months of 2019 remains very strong with cash and cash equivalents, certificates of deposit and short term investments of $31,723,668 and no outstanding debt.

Working capital is $37,245,662 and our ratio of current assets to current liabilities is 6.1:1. Stockholders’ equity is $48,322,892 and the book value per share of common stock outstanding increased to $12.52.

TerryTrexlerPresidentCEOFounderPhotoNobilityHomesOcalaFLLogoManufacturedModularHousingIndustryMHProNews500

Terry Trexler, still from their 2016 dated video, below.

Terry Trexler, President, stated, ”The demand for affordable manufactured housing in Florida continues to be strong. According to the Florida Manufactured Housing Association, shipments in Florida for the period from November 2018 through April 2019 were up approximately 26% from the same period last year. Constrained consumer credit and the lack of lenders in our industry, partly as a result of an increase in government regulations, still affects our results by limiting many affordable manufactured housing buyers from purchasing homes. However, legislation may help improve this situation in the future.”

Trexler continued, saying “Maintaining our strong financial position is vital for future growth and success. Because of very challenging business conditions during economic recessions in our market area, management will continue to evaluate all expenses and react in a manner consistent with maintaining our strong financial position, while exploring opportunities to expand our distribution and manufacturing operations.”

Our many years of experience in the Florida market, combined with home buyers’ increased need for more affordable housing, should serve the Company well in the coming years,” Trexler said.  “Management remains convinced that our specific geographic market is one of the best long-term growth areas in the country.”

That last point is born out by today’s report from the Manufactured Housing Association for Regulatory Reform (MHARR).  The report that Florida is the #3 state overall in recent years.  It is #2 in the nation so far this year.  It is also one of only 2 states that is rising, vs. 8 states that have slipped.

May2019NewManufacturedHomeShipmentDataDailyBusinessNewsMHProNews

On June 5, 2019 Nobility celebrated its 52nd anniversary in business specializing in the design and production of quality, affordable manufactured homes. With multiple retail sales centers, an insurance agency subsidiary, and an investment in a retirement manufactured home community, we are the only vertically integrated manufactured home company headquartered in Florida.

In closing on this snapshot for this evening before the July 4th national holiday, let’s disclose that we hold no position in this firm or the others tracked.  Let’s further note that we held this report to coincide with the May national shipment data.  It frankly makes their sales growth performance all the more impressive.

As a final note, as antitrust an regulatory oversight of several industries – including manufactured housing – increases, investing in a firm that lacks those risks could prove to be increasingly prudent.

 

 

Related Reports:

Manufactured Housing Production and Shipments, Official HUD Data, Report for May 2019

Retailers Lining Up, Eager to Lodge Antitrust Complaints, Plus Manufactured Housing Market Updates

 

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).

ManufacturedHousingIndustryConnectedStocksMHProNewsDailyBusinessNewsMHProNews

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 on LinkedIn, we say – “Thank You for your vote of confidence.”

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

(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.

Retailers Lining Up, Eager to Lodge Antitrust Complaints, Plus Manufactured Housing Market Updates

July 2nd, 2019 Comments off

CNNmone7.2.2019ManufacturedHomeStocksMarketsReportsMHProNewsNewsmax and other media outlets are reporting this evening that there are several retailers forging an alliance to take on Amazon – a company that Berkshire Hathaway reportedly has about a billion dollar stake in, and is involved in factory-built housing and numerous other businesses, and Google.  On a day when the markets rose, and another record fell on the S&P, that antitrust move – and what it might imply for manufactured housing professionals – 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.

 

CNN Business

  • S&P 500 could be nearly 5% higher
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  • S&P 500 sets another record high
  • Tesla sets a record for sales, and its stock jumps 7%
  • Christine Lagarde tapped as next European Central Bank chief
  • US proposes new tariffs on EU goods worth $4 billion
  • Arizona governor says he wants to yank Nike’s tax breaks over canceled shoe
  • Nike sneaker featuring Betsy Ross flag canceled after backlash
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  • Famed photographer Annie Leibovitz takes portraits of five women running for president
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  • ‘Spider-Man’ tries to save the slumping summer box office
  • Shopping Content by CNN Underscored
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  • American is first US airline to drop a route because of 737 Max grounding
  • Saudi oil minister: Iran is threatening global energy supply
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  • Burger King will sell upside-down Whoppers in 1980s wrappers
  • Netflix is releasing a ‘Stranger Things’ video game
  • Coca-Cola is bringing back New Coke in honor of ‘Stranger Things’
  • Iconic 80s computer to return with fully-functional keyboard
  • Pizza Hut brings back its retro logo
  • OPEC extends oil production cuts until March 2020
  • Gas taxes are rising because Americans are driving more fuel-efficient cars
  • America’s liquefied natural gas boom has a climate change problem
  • Iran oil minister: ‘OPEC might die’
  • America’s oil boom will break more records this year

Fox Business

  • S&P 500 sets second record high in as many days
  • StockX pulls Nike ‘Betsy Ross flag’ sneakers from resale site, cites company values
  • Nike pulls ‘Betsy Ross flag’ sneaker on fears it would offend customers
  • Christine Lagarde: 5 things to know about the nominee for ECB president
  • Fiat Chrysler has its best June retail sales in 14 years thanks to Ram pickups
  • Anderson Cooper’s large inheritance: A look at the tax obligations
  • Adidas U.K. tweets racist, offensive messages after social media promotion goes wrong
  • These are the highest paid White House employees
  • Amazon customers can buy a tiny home for less than $20,000 along with free shipping
  • MLB legend: This is how to turn a losing team into World Series champs
  • Retirement advice: 7 ways to make your money last
  • NBA star Kevin Durant sells Malibu home for $12.15M: report
  • California will require employers to offer a retirement savings plan for workers
  • Discontinued Nike ‘Betsy Ross Flag’ sneakers prices soar
  • Walmart heir Jim Walton donates $1.2B of his fortune, report says
  • New York real estate weakness intensifies amid tax changes, hikes
  • USMCA will unleash American innovation: Dems must not stand in the way
  • Democrats have been ‘hijacked by unelectable socialists’: Varney
  • Trump-Xi trade talks at G20: America’s biggest weakness is no big secret

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

9MarketIndicatorsYahooFinance7.2.2019DailyBusinessNeawsManufacturedHousingIndustryStocksMarketsReportsDataMHProNews

Today’s MH Market Spotlight Report –

RetailersLiningUpEagerLodgeAntitrustComplaintsPlusManufacturedHousingMarketUpdatesMHProNews

“A leading U.S. retail group, whose members include Walmart Inc., is eager to aid antitrust enforcers that are poised to investigate whether Amazon.com Inc. and Alphabet Inc.’s Google are harming competition,” reports right-of-center Newsmax today.

The Retail Industry Leaders Association (RILA) also represents Target Corp., Best Buy and others.  RILA said it’s prepared to present their concerns to the Justice Department and the Federal Trade Commission.  The two federal agencies have antitrust oversight of Silicon Valley and other companies when it comes to antitrust regulations.

It’s pretty clear to us that the FTC and different relevant regulators should be taking a much closer look at these platform companies,” said Nicholas Ahrens, vice president of innovation for RILA, in an interview. “We are here to help.”

RILA joins a growing number of companies, including Oracle Corp., Yelp Inc., Tripadvisor, Inc. and News Corp. – parent to Fox News – that have raised concerns about competitive harm from dominant technology platforms.

The retailers’ group has already laid out its views on competition issues to the House Judiciary’s antitrust subcommittee, which is also investigating the technology industry, Ahrens said.

The trade group wrote a letter to the FTC dated Sunday, arguing that the tech platforms create an “information bottleneck” that has the power to skew markets and circumvent the traditional power of price competition.

That same bottleneck arguably impacts other industries, including manufactured housing.  As was noted at the top, it is prudent to observe the cross ties between Berkshire Hathaway and several tech giants.

It should be “quite concerning to the commission that Amazon and Google control the majority of all internet product search, and can very easily affect whether and how price and product information actually reaches consumers,” the trade group said in a letter responding to a series of hearings the agency held on competition policy.

Representatives for Amazon and Google reportedly didn’t immediately respond to requests for comment.

The FTC has claimed oversight of probes of Facebook Inc. and Amazon, while the Justice Department is set to scrutinize Google and Apple Inc., left-of-center Bloomberg has reported. Separately, the House Judiciary’s antitrust subcommittee kicked off a broad antitrust investigation into the technology industry last month with a hearing on how Google and Facebook have affected the news industry.

Yesterday on Tucker Carlson Tonight, President Donald J. Trump spoke about antitrust topics, naming the companies also cited in this report. For more on that, see the related reports, below.  Further, several 2020 Democratic hopefuls have raised the issue.  See that in the second linked report below.

It should be noted that MHProNews is by far the most prominent trade publication that is tracking monopolistic and antitrust concerns as it may relate to manufactured housing, along with our sister publication.  While a battle with a firm like the FAANGs Berkshire Hathaway, or Microsoft would no doubt be protracted, it would not be a surprise if those stocks dropped once a case is formally opened.

MHProNews has no position in the stocks mentioned.

Related Reports:

President Trump Mulls Federal Action Intervening on Homeless Crisis in U.S. Cities

Insightful Quotes for Manufactured Home Business, Investors, and Professionals

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

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

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).

 

ManufacturedHousingIndustryConnectedStocksMHProNewsYahoo7.2.2019DailyBusinessNewsMHProNews

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.”

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

(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.

Clayton Homes Contradicts Wall Street Journal’s “Fannie and Freddie’s Latest Push: Factory-Built Homes”

June 27th, 2019 Comments off

 

ClaytonHomesContradictsWallStreetJournalsFannieFreddieLastestPushFactoryBuiltHomesDailyBuisnessNewsMHProNews

Earlier this week, the Daily Business News published a report that called into question several of the claim alleged by the Wall Street Journal (WSJ) in a report accessed via the linked text-image box below.

 

 

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

 

 

Clayton Data Debunks a WSJ Claim

The WSJ report said “Clayton says it sells about 42% of the manufactured homes in the U.S…” Really?

But this graphic from the Clayton website shown below said they had 47.7 percent market share in 2017. That market share is based upon home sales data. Are the WSJ reporters saying that Clayton has lost s0me 5 percent market share? Or are they suggesting that Clayton’s total sales fell in 2018?  How can the WSJ justify their odd claim that flies in the face of Clayton’s own data?

 

ClaytonHomesbuiltMarketShare2017-47.7manufacturedhousingindustryDailyBusinessNewsMHProNews

 

Among the claims made in their recent report was that the FHFA said that the industry was trending up. Here is how they phrased it.

Manufactured-house shipments have trended higher since the financial crisis, according to the Federal Housing Administration.”

While the industry is up from the bottom (see over twenty years of shipment trend graphics, further below), the data obtained from IBTS on behalf of the Department of Housing and Urban Development — upon which the Manufactured Housing Association for Regulatory Reform (MHARR) and the Manufactured Housing Institute (MHI) rely upon — indicate that the trend in manufactured housing is now down year-over-year for 8 straight months.

Here is what a snapshot earlier this month from MHARR revealed.

 

April2019ManufacturedHomeProductionShipmentTop10StatesMHARRlogoDailyBusinessNewsMHProNews

 

When the above and other concerns were brought to the attention of the WSJ, their writers, editors, and media relations professionals – they all said they reviewed the concerns presented – but would stick with their story as is.  Here is how their senior communications director phrased it in a communication to L. A. ‘Tony’ Kovach at MHProNews.

Hi Tony, I am the Communications Director for the Journal. We have reviewed your messages with our reporters and have determined the Journal’s reporting is fair and accurate. We stand by the reporting.

Many thanks,

Steve  

Steve Severinghaus
Senior Director, Communications

That was received from Severinghaus on Mon, Jun 24, 3:03 PM.  Additional evidence and questions about other errors and controversial claims have not yet been addressed since then.

 

Fake, Weaponized News, Agenda-Driven News About Manufactured Housing

Pew Research revealed in a new survey in early June 2019 that public concerns over Fake News now reflects the perspective of half the nation. Here is how Pew’s graphic summed it up.

 

PewResearchCenterJournalismMediaFakeNewsManufacturedHousingDailyBusinessNewsMHProNews

 

That is telling, and directly relates to reports like this one by the WSJ. While not all news or fake, spin, mistaken, or agenda driven, some reports more clearly reflect an open or hidden agenda. That spin or agenda-focused reporting that lack balance is arguably what those in the know see as “fake.”

It should be noted that the Society for Professional Journalism Code of Ethics contradicts the position the WSJ have taken.

SPJSocietyProfessionalJournalistsCodeofConductMHProNews

See bullets 2, 3, and 4 in the second box, above. The WSJ decision seems to fly in the face of the standard in the top box too.

 

The WSJ did not deny that they failed to contact the National Association of Manufactured Housing Community Owners (NAMHCO) in doing their report. A NAMHCO source told MHProNews that the where not contacted.

Nor did WSJ representatives deny that they had interviewed Mark Weiss, President and CEO of the Manufactured Housing Association for Regulatory Reform (MHARR) for about an hour. That was confirmed by sources with MHARR, which went on to say that they provided the reporter information that contradicts what their report claims.

What the WSJ did was double down, ignoring those other sources, voices, insights, and perspectives.

This is not to imply that everything the WSJ report on Fannie Mae and Freddie Mac Lending was inaccurate or false. The way that spin is produced is often to include demonstrably true information with questionable, agenda driven, or false information mixed in. That way, only an expert can discern what is what. It makes the point previously shared by Brad Lovin of the North Carolina Manufactured Housing Association (NCMHA).

 

PublishingHandPickedInformationCanBeWorsefortheImpressionItMakesOnManufacturedHomesandOurIndustryThanStatingEntirelyFalseInfo-BradLovinNCMHA

 

This article is valuable as an object lesson is not only fake or weaponized news, but who is behind it. Who benefits from this article as written? Several suspects become evident.

  • Nicole — is a Berkshire Hathaway focused reporter, as her own bio says.
  • Clayton Homes wanted to push their so called new class of homes.
  • The Manufactured Housing Institute (MHI) is widely seen as the mouthpiece of Berkshire brands, such as Clayton Homes, 21st Mortgage and Vanderbilt Mortgage and Finance (VMF).
  • Fannie Mae and Freddie Mac have paid MHI, ‘sponsoring’ events. That raises concerns over  conflicts of interest. It should be noted that former House Financial Services Committee Chair Jeb Hensarling publicly questioned the propriety of lobbying by the GSEs.

 

Who does the status quo harm?

Who does the status quo in MHVille harm?  Arguably manufactured housing independents, prospective consumers, and those manufactured home owners that might refinance existing chattel loans away from Berkshire owned brands if chattel lending was being done in earnest.  A lack of growth, or declining sales harms independents.  In fatigue, frustration, etc. a certain percentage sell out. As they do so, the value of their business is harmed by lower sales vs. higher ones, or lower community occupancy than higher occupancy, etc.

Rephrased, it harms the little guy, but can benefit the big boys.

 

BloombergShipmentProductionGraphicManufacturedHousingIndustryDailyBusinessNewsMHProNews

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

UnderstandingWarrenBuffettCastleMoatMetaphorsQuotesDailyBusinessNewsMHProNews

Never forget that even during medieval times, castles and their moats were in fact breached.

There is more developing on this WSJ topic, so stay tuned.

That’s another Thursday edition 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

 

 

 

 

 

 

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

June 25th, 2019 Comments off

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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  • Startup bank Aspiration is trying to be the anti-Wells Fargo. It’s working
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Fox Business

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  • Powell, facing Trump pressure, warns about danger of ‘short-term’ policy interests
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  • Chipotle unveils new quarterly bonus program for hourly employees
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  • NFL’s Rams to refund $24M to St. Louis fans who bought personal seat licenses
  • These are the most patriotic states in America: WalletHub
  • GM to put $4.2B toward US assembly plants ahead of new vehicle lines: report
  • NCAA says it may ban California colleges from championship games over athlete pay bill
  • New York, New Jersey could lose residents to this lower-tax neighbor
  • JP Morgan Chase CEO Jamie Dimon: Student loans are ‘hurting America’
  • Trump-Xi trade talks at G20: America’s biggest weakness is no big secret
  • Trish Regan to 2020 Democrats: Enough with the free stuff, it’s not affordable nor sustainable
  • 2020 Democratic debate No. 1: What small business wants to know

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.”

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

(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.

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

June 25th, 2019 Comments off

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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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.

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

 

 

 

 

 

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

June 24th, 2019 Comments off

 

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

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.

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

June 24th, 2019 Comments off

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.”

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

(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.

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

June 24th, 2019 Comments off

 

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.

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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.

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