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Warren Buffett, Charlie Munger Video Interview at Berkshire Hathaway Annual Meeting on GSEs Lending for Affordable Manufactured Housing and Clayton Homes

May 6th, 2019 Comments off

 

WarrenBuffettCharlieMungerVideoInterviewBerkshireHathawayAnnualMeetingGSELendingAffordableHousingClaytonHomes

For those that are new or want a refresher, the exclusive report by the Daily Business News on MHProNews of the Clayton Homes related 2018 data from Warren Buffett and Berkshire Hathaway is found at the report linked from the text-image box below.

 

 

2018 Berkshire Hathaway Annual Report, Clayton Homes, Shaw Data Revealed, Facts Others Lack

 

This weekend has witnessed the so-called “Woodstock of Capitalism,” the 2019 edition of the Berkshire Hathaway annual shareholders meeting in Omaha, NE. An estimated 40,000 plus were expected to attend.

Yahoo provided coverage of the event, and the video below is from that source.  Per Yahoo, “Buffett said it would be “very good for America” if Fannie Mae and Freddie Mac did more to help finance manufactured homes, such as those made by Berkshire-owned Clayton Homes.”

 

 

There is a lot to unpack from this 4 minutes, 2 second long video.

As close, thoughtful, and longtime readers of our pro-industry trade media platforms already know, there have been allegations for years of market manipulation by Clayton Homes within the manufactured housing industry and finance space.  One such report, based upon a letter from Tim Williams at 21st Mortgage Corp, the words of Buffett himself from that same year, and a nearly 1-hour long video with Kevin Clayton, are all found at the link above.

What is discerned from this weekend’s statement by Buffett and Munger ought to be viewed through that lens, and what follows.

Furthermore, there are sources inside the GSEs, and from a Berkshire brand led by CEO Tim Williams at 21st that indicated that for some time, the powers-that-be from Omaha-Knoxville metros worked first to foil, and more recently, to redirect lending from Fannie Mae and Freddie Mac away from the bulk of manufactured housing.

 

For such reasons, the Manufactured Housing Association for Regulatory Reform (MHARR) has been engaged in a tough, protracted battle to encourage the full implementation of the law, not just a partial one.

 

MarkWeissDTSQuoteManufacturedHousingAssocRegulatoryReformMHARRDailyBusinessNewsMHproNews

MHARR Calls on New Fannie Mae CEO Hugh Frater to Fully and Properly Implement Federal Law

With all due respect to Buffet, as the next link reveals, there have been times that what he said did not line up.

More recently, HBO’s Last Night Tonight with John Oliver viral video errantly dubbed “Mobile Homes” reflected the revelation that it was Buffett’s brands and Manufactured Housing Institute (MHI) connected companies that were causing the industry blowback in mainstream media reports.  Our publisher in a letter published in 5 markets in Florida, including Jacksonville called on the public to hold those responsible for purported misdeeds, not the industry at large.

Warren Buffett must be construed in the light of not only his words, but also of the deed of the brands they own.  Furthermore, as Buffett and Berkshire has been wont to fund both sides of certain battles, that raises fresh concerns, as the report linked here documents.

Those points and the linked evidence and logic from those articles should be kept in mind by investors, advocates, researchers, policy wonks, politicos  — plus, of course, the industry’s home owners and professionals.

That said, will Buffett’s comments this past weekend could potentially be used to encourage Fannie Mae and Freddie Mac to lend on all manufactured homes, or just on select ones, as the Clayton-MHI backed ‘new class of homes’ effort promotes? Time will tell.  But as with all things connected to Buffett, it bears a nuanced consideration. See the related reports, further below.

That’s this post-dawn Monday morning episode of professional life in MHVille, exclusively from the #1 most-read “Industry News, Tips, and Views Pros Can Use,” © where “We Provide, You Decide.” © ## (News, analysis, and commentary.)

 

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

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

Related Reports:

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

 

Warren Buffett’s Profitable Lessons for Manufactured Housing

“Mobile Home Militia,” Retail/Production Sources, Sound Alarm Against Clayton Homes, CMH, New “Anti-Competitive Practices” Allegation

News Tip, Document – Is Clayton Homes Engaged in False Down Payments? Deceptive Trade Practices?

CFPB and 21st, Second Shoe Drops? Flooring w/21st Mortgage Corp? Insider Tips

Tim Williams, PBS News’ Bad Bargain, Manufactured Housing Institute, Buffett’s Mirror, and Clayton’s Costume

Manufactured Housing Institute’s Monthly Economic Report Spotlights Challenge, What MHI, WHA’s Amy Bliss Said

White Collar Shakedown, Fear, Hobbs Act, and Manufactured Housing Independents Struggles

 

 

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

 

MHARR Calls on New Fannie Mae CEO Hugh Frater to Fully and Properly Implement Federal Law

“The Illusion of Motion Versus Real-World Challenges”

 

 

 

 

 

 

One Word From Fed’s Jerome Powell Sent Stocks Lower, Plus Manufactured Housing Market Updates

May 1st, 2019 Comments off

CNNmone5.1.2019ManufacturedHomeStocksMarketsReportsMHProNewsMarketWatch has a column today about capitalism and the law that merits a good fact-check, but we will defer that topic for another date, as the headlines for today were focused on Federal Reserve Chairman Jerome Powell’s “one word” that sent generally sent stocks down. On a day with slightly more losers than gainers on manufactured home industry connected tracked stocks, Fed Chair Powell’s ‘one key word’ will be our focus 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 belowafter 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.

 

LeftRightMediaSharylAttkissonDailyBusinessNewsMHProNews

Select bullets from CNN Money…

  • These are the rules
  • Here are the 9 things Elon Musk needs permission to tweet about in the future
  • Why Tesla is offering rock-bottom solar panel prices
  • SpaceX’s mission to the International Space Station delayed by electrical problems
  • LIVE UPDATES Stocks finish lower as investors digest Fed comments
  • The Fed leaves interest rates alone despite Trump’s demands to cut them
  • Jerome Powell has one job: Stay cool
  • Has Warren Buffett lost his magic touch?
  • Huawei is the only major smartphone brand still growing in China
  • Google employees are staging another protest
  • Amazon’s HQ2 hiring spree has begun
  • Kohl’s won over moms. Now it’s going after Millennials
  • Hulu now has 28 million subscribers
  • Jaguar Land Rover will build its iconic Defender in Slovakia, not the UK
  • Facebook is doubling down on AI to clean up the social network
  • LIVE FROM MILKEN Private equity is trying to repair its slash-and-burn image
  • Fed chair: ‘Men and women should make the same for the same work’
  • Google adds way to auto-delete your location history, web activity
  • Information war escalates as Venezuela tries to contain uprising
  • PERSPECTIVES Big Tech can’t be trusted. It’s time for regulation
  • Facebook makes a major shift
  • If your image is online, it might be training facial-recognition AI
  • Fake video is coming. The US government is racing to fight it
  • Facebook’s bottomless pit of scandals
  • America is running out of Impossible Burgers
  • Burger King will roll out Impossible Whopper nationwide
  • Donut Sticks and bacon sent McDonald’s sales through the roof
  • Why Carl’s Jr. tested out a CBD burger
  • Can the new Impossible Burger lure meat lovers?

Select Bullets from Fox Business

  • Fed keeps interest rates steady, citing muted inflation
  • Stocks end lower for 1st time in 3 days after Fed rate decision
  • Private sector hiring in April blows past Wall Street’s expectations
  • The biggest winners from Uber’s impending IPO
  • What your car says about your credit score
  • Billionaire Warren Buffett reveals the 2 things he always carries in his wallet
  • Alexandria Ocasio-Cortez’s rebuttal to Chase Bank’s thrifty ‘#MondayMotivation’ tweet goes viral
  • Cuomo wants top tax preparers investigated over ‘deceptive’ filing practices
  • California farms are suffering from a labor shortage. Here’s why
  • Trump hires firm to assess burden of student loan portfolio
  • Billionaire Ken Griffin blasts socialism, says ‘soaking the rich doesn’t work’
  • Netflix price hikes arrive for all US subscribers in May: What to know
  • Subway quietly closed more than 1,000 locations in 2018
  • CVS Health CEO rebukes ‘Medicare for All’ push
  • 10 jobs that still come with a traditional pension
  • Post Office considers 5 day mail delivery as finances languish
  • Grey’s Anatomy star Isaiah Washington: The liberal media couldn’t kill me
  • Beto O’Rourke’s $5T climate change plan is ‘virtue signaling’: Rep. Matt Gaetz
  • Millennials are turning to timeshares, Diamond Resorts CEO says
  • Burger King takes on McDonald’s Happy Meals with ‘moody’ boxes
  • Thankfully, we are far from the Venezuelan scenario. Let’s keep it that way
  • Infrastructure bill: Two cheers for gridlock, Varney says
  • Venezuela, a cautionary tale of socialism that started with good intentions

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

9MarketIndicatorsYahooFinance5.1.2019DailyBusinessNeawsManufacturedHousingIndustryStocksMarketsReportsDataMHProNews

 

Today’s Big Movers

For all the scores and highlights on tracked manufactured home connected stocks today, see thBloomberg graphic, posted below.

Today’s MH Market Spotlight Report –

FederalReserveChairJeromePowellOneWordSendStocksLowerMHMarketUpdatesMHProNews

We’ll preface the Daily Business News on MHProNews comments and video that follows from CNBC by saying this. Who elected Jerome Powell to preside over the economy?

The answer, of course, is that the Trump Administration nominated Powell, and the Senate confirmed him in February 2018.  But millions of Americans ought to question the outsized role the Federal Reserve plays in the U.S. economy.

To consider a contrarian viewpoint, for some time, one of the lonely voices critical of the Federal Reserve in Washington, D.C. was Senator Rand Paul’s father, Congressman Ron Paul.

Starting at about 2:50 on this video, Dr. Paul speaks briefly about the Fed as “a thief.”  We’ll use that to tease this big topic for another time.

 

 

Think about it.  How free is free enterprise, if one word from an appointed bureaucrat can cost you money? Roughly a century of the federal reserve system is arguably enough of a mixed bag of often problematic results that merits another look, another time.

More Americans need to question the status quo. Why is something the way it is? How does it compare to the vision of the founders?

That said, let’s turn to some pull-quotes from left-of-center CNBC today.

 

Here’s the one word from Jerome Powell that has people raising their eyebrows

That one word? Transitory.”

 

  • Traders have been speculating that recent weaker inflation readings would concern the Federal Reserve so much that it would cut interest rates later this year. Powell knocked that idea, by explaining that the central bank still sees the weakness as the result of “transitory” factors, such as portfolio management services, lower apparel prices and airfares.
  • Stocks were flattish before the Fed statement, and turned negative when Powell began to speak about inflation.
  • “The market was pricing in this rate cut. They want a rate cut and this was basically Powell saying, ‘sorry but we’re not.’ You have gold down, the dollar rallying and Treasurys selling off,” said Peter Boockvar, of Bleakley Advisory Group
  • On Tuesday, President Donald Trump criticized Fed policy, saying it was holding back the U.S. economy. He said the Fed should cut by one percentage point and restart a program of quantitative easing, a policy tool used during the financial crisis.

 

Related Reports:

Barron’s Big Money Manager Survey Democratic, Trump, Congress Result$, plus MH Stock Updates

Wall Street Expects POTUS Trump Reelection in 2020, MHVille First Looks

Bloomberg 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).

5.1.2019DailyBusinessNewsManufacturedHousingConnectedMarketReportsBloombergMHProNews

 

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.

White House, CNBC, Larry Kudlow Unpack Today’s Economic Report, Plus Manufactured Home Stock Updates

April 26th, 2019 Comments off

CNNmone4.26.2019ManufacturedHomeStocksMarketsReportsMHProNewsThank God it’s Friday!  There were new record highs on the markets this week.  The first quarter Gross Domestic Product (GDP) came in much higher than expected. There were more gainers than losers on the manufactured home tracked stocks.  Let’s dive into the headlines across the left-right media divide that money managers watch that can move markets, plus our featured headline report.

 

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 belowafter 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.

 

LeftRightMediaSharylAttkissonDailyBusinessNewsMHProNews

Select bullets from CNN Money…

  • ‘Avengers: Endgame’ had a $60 million night
  • The superhero saga’s opening night was the biggest in history
  • Deutsche Bank is on the ropes without a plan to fight back
  • US economy posts strong first quarter, but consumer spending slows
  • Why it would be bizarre for the Fed to cut rates now
  • S&P 500 and Nasdaq hit all-time closing highs, again
  • Uber scales back its IPO ambitions
  • Uber backs off talk of competing with public transit
  • PERSPECTIVES The real danger of Alexa listening to our convos
  • GM adds 400 jobs in Kentucky to help build a radical new Corvette
  • An NFL star gave his teammates Amazon stock. There’s a better gift
  • PepsiCo offers to settle with Indian farmers it sued over potatoes
  • Shell’s stand on LGBT rights under scrutiny over Brunei’s anti-gay laws
  • Elon Musk and SEC reach an agreement
  • Amazon’s one-day shipping plan sparks backlash from labor union
  • Ford is being investigated over emissions testing
  • Slack files to go public with an unusual approach
  • Beyond Meat’s IPO plans give it a $1.2 billion valuation
  • This IPO market is nothing like late 1990s craziness
  • Tech IPOs are soaring. Should you invest?
  • Uber and Lyft may look the same, but their visions are not
  • CAN NETFLIX REMAIN KING?
  • A logo sign outside the headquarters of Netflix, Inc., in Los Gatos, California on December 7, 2014. Photo Credit: Kristoffer Tripplaar/ Sipa USA *** Please Use Credit from Credit Field ***
  • Netflix’s not-so-secret weapon to win the streaming wars
  • Netflix adds record number of subscribers
  • The streaming wars are heating up. Netflix is even hotter
  • Why 2.7 million Americans still get Netflix DVDs in the mail
  • Netflix vs. Steven Spielberg is a battle over the future of the movie experience

Select Bullets from Fox Business

  • EXCLUSIVE: Sinclair places top bid, reaches “handshake agreement” with Disney for Fox Regional Sports Networks
  • Justice Department investigating Ford’s process to certify emissions compliance
  • 1 in 4 Americans are ditching summer vacation this year. Here’s why
  • Stocks end week at new highs as good GDP data offsets poor earnings
  • Billionaire Mario Gabelli blames Amazon’s failed NYC deal on ‘the financially illiterate’
  • Google doc listing 13,000 employees’ salaries goes viral
  • Elon Musk, Bill Gates, others took a personality test and each scored low in same category: report
  • Pepsi suing local farmers in India for growing potatoes it claims it owns
  • WATCH: Retired brigadier general slams AOC’s characterization of the VA
  • US economic growth rebounds at 3.2 percent pace in first quarter
  • Warren Buffett considering $100B Berkshire stock buyback: Report
  • Low-tax states top among best places to make a living in 2019
  • The 5G era is here, but pitfalls loom for early adopters
  • Warren Buffett’s diet still includes 5 cans of coke, McDonald’s and Dairy Queen
  • Top 20 ‘best value’ colleges revealed in Forbes’ annual list
  • Will Boeing 737 Max jet groundings impact summer travel?
  • Trump blames high California gas tax for ‘mystery’ price surge in state
  • The cheapest and most expensive states to raise a kid
  • Your retirement: How much money is at risk if you delay saving?
  • NFL Draft rookie contract scale: What Kyler Murray, other prospects will earn
  • Clemson, Dabo Swinney reach $93M contract extension, richest in college football history
  • How Kyler Murray’s NFL pay compares to his forfeited MLB signing bonus
  • NY Times star columnist echoes Trump on border wall: Varney
  • Millennials MIA among U.S. entrepreneur class: Why it really matters
  • California’s high gas prices shouldn’t be a mystery

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

9MarketIndicatorsYahooFinance4.26.2019DailyBusinessNeawsManufacturedHousingIndustryStocksMarketsReportsDataMHProNews

 

Today’s Big Movers

For all the scores and highlights on tracked manufactured home connected stocks today, see thBloomberg graphic, posted below.

Today’s MH Market Spotlight Report –

 

WhiteHouseCNBCLarry KudlowUnpackTodaysEconomicReportPlusManufacturedHomeStockUpdates

Left-of-center CNBC had these bullets about the GDP report for the first quarter of 2019.

  • First-quarter gross domestic product expanded by 3.2%, the Bureau of Economic Analysis said in its initial read of the economy for that period.
  • Economists polled by Dow Jones expected the U.S. economy increased by 2.5% in the first quarter.
  • Gross domestic product for the first quarter was the best start to a year since 2015.

 

 

The White House Press Room’s “West Wing Reads” had the following shares today with the Daily Business News on MHProNews.

POTUSTrumpWestWingReadsPixabayDailyBusinessNewsMHProNews

 

US Economy Grows by 3.2% in the First Quarter, Topping Expectations

“The U.S. economy grew at a faster pace than expected in the first quarter and posted its best growth to start a year in four years,” Fred Imbert reports for CNBC.

“First-quarter gross domestic product expanded by 3.2%, the Bureau of Economic Analysis said Friday in its initial read of the economy for that period. Economists polled by Dow Jones expected growth of 2.5%.”

Click here to read more.

“President Donald Trump is taking a principled stand against congressional overreach, refusing to allow Democrats to use Congress as a taxpayer-funded opposition research firm for 2020,” Jenna Ellis writes in USA Today. “Special counsel Robert Mueller has completed his two-year investigation, finding that there was no Russia ‘collusion’ and bringing no obstruction of justice charge. But now, House Democrats have shifted their own version of the discredited partisan witch hunt into full gear.”

 

“One of the biggest failures of the Mueller probe concerns not what was in the final report, but what was not. Close readers will search in vain for any analysis of the central document in this affair: the infamous ‘dossier.’ It’s a stunning omission,” Kimberly Strassel writes in The Wall Street Journal. “Thanks to the special counsel we know Republicans weren’t playing footsie with Russians. But thanks to BuzzFeed, we know that Democrats were. America deserves to know how far that interaction extended.”

 

“Veterans of the 1993 Battle of Mogadishu have slammed [Rep. Ilhan Omar (D-MN)], for accusing them of killing ‘thousands’ of Somalis and ignoring the fact they were engaged in a United Nations mission designed to protect civilians from a murderous warlord following a devastating famine and civil war,” Russ Read reports for the Washington Examiner. “Danny McKnight, who was the Ranger colonel who commanded U.S. troops, and Kyle Lamb, who was a Delta Force operator, said they were in Somalia in part to protect the Majerteen, Omar’s tribe, from the ruthless warlord Mohammed Farah Aidid.” 19 U.S. troops were killed in service of that mission.

 

 

 

Related Reports:

Bipartisan Praise for Manufactured Housing, What’s Next

2020 News: Big Brother, Antitrust – Anti-Monopoly – Manufactured Housing, and You

American Pie – The Parody Project – The Day Collusion Died, and Manufactured Home Investing

 

 

Bloomberg Closing Ticker for MHProNews…

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

NOTE: The chart below covers a number of stocks NOT reflected in the Yahoo MHCV, shown above.

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

4.26.2019DailyBusinessNewsManufacturedHousingConnectedMarketReportsBloombergMHProNews

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.

Manipulating Manufactured Housing Pros – Caterwauling Mudslinger, Just Write a Check, Pay Cash, Use Plastic, and Shut You Up

April 25th, 2019 Comments off

 

GeorgeFAllenEducateMHCCommunityInvestorImageManufacturedHousingInstituteClaytonHomes21stMortgageBerkshireHathawayMHProNews

Jealousy. Lunacy. Hypocrisy. Once was, award-winning, former community-investor George F. Allen bemoans MHARR, begs them and NAMHCO for unity with MHI, all while assailing this platform. Will someone in his circle please show him how to use the GPS app on his phone?

 

Or is Allen still navigating by using an old app-less flip phone? Does he not see that the Manufactured Housing Association for Regulatory Reform (MHARR), the National Association of Manufactured Housing Community Owners (NAMHCO), himself, we and others have all left the Manufactured Housing Institute (MHI) for good, stated, and ongoing reasons?

Let’s unpack wanna-be “EducateMHC” magician and trickster Allen’s Good Friday assaults and caterwauling complaints about several MH industry things, as he purportedly puffs to carry MHI’s water. Yes, that’s the same MHI Allen himself quit, that he said privately and publicly betrayed had him, and that he long complained about their purported oligarchic practices. In his trying to point a finger at others, has he successfully instead pointed three fingers back at himself and his buddies affiliated with the Arlington, VA oligarchic front group?

Let’s dig into the evidence and find out.  Because after 6 months of declining new manufactured home shipments during an affordable housing crisis, manufactured housing retailers, communities, producers, lenders, and all others merit serious answers, not another artful dodge.

What is it All About?

Professionals in our industry or any other are obviously in business to make money. For the majority who want to earn an honest living, that requires information, among other factors.

So as the ancient Romans put it, “scientia potentia est” or “knowledge is potential power.”

Knowledge is only potential power because accurate information must be properly acted upon in order for it to have practical value.

But what if the information being put forth isn’t accurate?  Doesn’t that make success more difficult to obtain?  Especially for the independent business person, who may be competing against a nearby industry giant?

That’s just one reasons why critical thinking skills are necessary.  Because Allen is right about this much, there are two entirely different narratives at play in manufactured housing industry trade circles.  That begs the question, which narrative is more accurate?

As a thoughtful strategist – the Rev. Martin Luther King, Jr. put it – the purpose of education is to build character and to learn to think critically. Keep in mind what King and his colleagues accomplished.  Flash back to 1950.  Who would have thought that black Americans could have so many social, economic, and political barriers for their progress removed by the efforts of King and others working with him?

Knowledge, critical thinking – reality-based understanding – these are important for any professional, especially for those in a seemingly uphill battle.

IfMHProNewsIswritingAboutItIWantToKnowAboutItQuoteIn a normal industry, some of the types of facts and insights needed to succeed would typically come from trade associations.

Sadly, in manufactured housing – as even their exiting president Chris Stinebert obliquely suggested – the Arlington, VA based Manufactured Housing Institute (MHI) has purportedly been failing at their own mission.  Why else would Stinebert wait until his final column to list all the ways that MHI was – from his insiders vantagepoint – failing to get to the root issues? To learn more, see the linked final article by Stinebert, here or above.

So while some moan or rail that MHProNews dares to hold MHI or other ‘big boys’ to account, it must not be forgotten that others – including, but not limited to, MHI insiders – have blasted MHI before or contemporaneously with this publication.

Rephrased, there is ample evidence that Stinebert and others in and out of MHI have provided to demonstrate that the Arlington, VA based trade group was weaponized to do the bidding of their ‘big boy’ masters.  Let Allen or others in MHI try to defend against that claim as best they can.

 

White Hats, Black Hats

Those ‘big boys’ are often tied to Omaha based Berkshire Hathaway, or Knoxville metro based Clayton Homes and their lending affiliates.  To be accurate and objective, there are other companies in the mix too.  MHI can arguably be seen as a mix of black hats and black hats.  The question then is, which hat is a given firm or individual wearing?  And are white hat firms giving black hat conglomerates cover for black hat activities?

The contention that much of the industry’s ills are in many ways internal did not begin here at  MHProNews.  One might argue that we were a bit slow on the uptake.  But if so, it was to make sure that the evidence existed to back the various claims being made, often by MHI insiders.

More recently, thanks to numerous voices inside and out of the Omaha-Knoxville-Arlington axis, MHProNews and our publicly-facing sister site can and have sincerely advanced the troubling case that the industry is underperforming due to the fallout from purported: antitrust violations, ongoing efforts at market manipulation and association failures.

One need look no further than the historic shipment data to recognize that the industry is underperforming.

Even publicly traded MHI member companies are making that argument that the industry is underperforming, as the Skyline Champion (SKY) graphic below reflects. The comments were added by MHProNews, but the green line reflects that the industry has a long-term average of some 224,000 new HUD Code home shipments annually.  It has achieved 372,000 plus new manufactured housing units produced in 1998.  In the mobile home era, over 55o,000 units were produced and sold for 2 years running.  What was done before can surely be done again.

 

3ErasMobileHomesManufacturedHomesManufacturedHousingImprovementActEraSkylineChampionShipmentProductionGraphicMHProNews

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

 

Another example of how MHI and their big boy brands are stirring the industry’s problems is the John Oliver’s satirical viral hit “Mobile Homes” video, accessible via the linked text-image box below.

 

 

That’s not caterwauling. That’s better known as following the facts, evidence, money trail, and logic.  That’s what researchers and reporters are supposed to do, George.

 

 

CaterwaulingDefinedManufacturedHousingMHProNews

 

These examples are the very essence of the critical thinking skills that Dr. King, Jr. and so many other thinker-doers through the ages have said is necessary for human progress.

 

CriticalThinkingDefinedManufacturedHousingMHProNews

 

George F. (F?) Allen’s ‘Defense’ of MHI and Certain State Association Executives

GeorgeAllenCommunityInvestorBlogMHMPostedMastheadBlogManufacturedHousingIndustryCommentaryNewsMHProNews-133x150a

George Allen, photo credit, MHProNews.com.

George F. (F?) Allen is up-front in each blog post for some years about why he writes. “Motto: ‘U Support US & WE Serve U!’”  Meaning, write him a check, take out your plastic, or cash and he’ll provided you with his sage views.

Of course.

Never mind that he’s now out of the land-lease business, so by his own prior definition, he no longer has “skin in the game.” Ooops.

Never mind that – per sources in his own circle – despite his new ‘EducateMHC’ moniker, his own daughter reportedly failed in the land-lease community business.  That reported failure almost took Allen himself under, per those same sources in Allen’s own orbit.  Ooops.

And never mind that Allen’s and his colleagues in SECO have an idea of education that has proven to be legally problematic, as the report and cross-linked information here outlines.  Ooops.

Keep in mind that Allen likes to entertain others, and is rather good at it. Among his delights are ‘magic tricks.’  The person who is adept at slight-of-hand actions has attempted a verbal slight-of-hand for some time, one could say.  In fact, why not point out that part of the ‘mystery shopping’ service that Allen provided for years was predicated on fooling people into thinking that he was an actual prospect.

So, what follows from Allen’s blog as his Good Friday topic is prudently considered through the lens of those assertions and related factoids. He’s been successful for years in writing and organizing events for a fee.  Done well, that’s a legitimate part of the American way.  Done badly or problematically, it is a good reason to apply “caveat emptor.”  Let the buyer beware.

 

Thanks, George 😉 Allen’s Over-the-Target Responses to Recent MHProNews Reports 

Naval and Air Force pilots have long had the expression that you don’t catch flak unless you are over the target.

Sources indicate to MHProNews that some of the same state executives that complained about leaks to this publication have at times shared information with Allen or others too. That’s obviously done when those same association executives doing the ‘leaks’ thought it useful to their interests.  Perhaps so, but it is mentioned here because Allen did in his missive quoted at length further below.

Part of the purpose of good media is to hold the powerful to account. Who says?  The Society of Professional Journalists and their code of ethics.

 

SPJSocietyProfessionalJournalistsCodeofConductMHProNews

 

It has been a while since Allen has taken public aim at this platform in an apparently failed attempt to get industry readers to boycott MHProNews.  That was allegedly done as ‘carrying water for’ association executives in the MHI orbit.  In response to the SPJ bullets 2 and 3, noted above, this fact-check and analysis are hereby offered.

Allen, himself a prior MHI critic, has apparently found a new way to profit from being a periodic voice to attempt to dissuade industry independents from following the reports and analysis on MHProNews. 

OligarchyDefinedGeorgeFAllenGFACommunityInvestorBlogCOBA7DailyBusinessNewsMHProNews600

 

Allen has not bothered to explain in depth to his readers what changed his views about MHI, on the concerns he previously noted publicly below.  Does his lack of consistency bother him?

ManufacturedHousingIndustryMonopoly-Oligarchy-GeorgeAllen-PostedDailyBusinessNews

George Allen can’t have it both ways, but that doesn’t apparently keep him from trying. He has a modest following today, which once used to be a larger following. As a former client of his told MHProNews, with George “It’s AAA, All About Allen.” If someone is doing good, and Allen’s not somehow in the mix, it is not uncommon for Allen to attempt to undermine that source, per some of his own followers.

  

Facts, documents, and accurate quotes in context are #NettlesomeThings.

New readers should bear in mind the following points.

  • Allen and Spencer Roane have been offered the opportunity to publicly dispute the evidence presented here on MHProNews and/or on MHLivingNews regarding themselves and/or the concerns associated with MHI, that he himself previously voiced routinely. They’ve repeatedly declined to engage in a public discussion or debate.  That’s in keeping with their 5th Amendment right to remain silent, which we respect.  But that leaves others free to ponder, if they had the better case, why not make it in public?
  • MHI, Clayton Homes, 21st Mortgage Corp, and/or their attorneys have been made a similar offer to publicly dispute the evidence presented here or on MHLivingNews via a moderated, on camera, and in front of a live audience of industry professionals. They’ve repeatedly declined the opportunity to do so.  Once more, that’s their right.  Perhaps they’ve duck out knowing their are federal investigations underway, and that whatever they say could be used against them in a court of law?  See the video, below the next bullet.  NOTE: views of that video have apparently more than doubled since we began sharing that mainstream media report about investigations of Clayton and their related lenders, from their own hometown news station.
  • George F. Allen, various figures associated with MHI, Jim and Kevin Clayton, Tim Williams and others may be loathe to admit it today, but they have each praised this publication for being pro-industry and for the good work being done here. Now that same analysis done here that they previously praised has turned dark in their eyes.

 

 

As believers in free enterprise and the value of honest competition, Allen – right or wrong – is serving an obliquely useful function. This publication and MHLivingNews are apparently ‘over the target,’ so we are ‘catching flak.’ This isn’t the only recent attack by opposing voices.  But the other assaults are less visible, and this one by Allen is visible.

As an observable attack, Allen is thus useful to manufactured home industry investors, advocates, and professional readers to understand the ongoing dynamic within MHVille. The visceral reaction being quoted below by Allen – in his role as a periodic tool for the Omaha-Knoxville-Arlington axis – will speak for itself.

Let’s see what Allen said, and then unpack it in a very few words.  As the reader can see from the screen capture below, provided under fair use guidelines, attacking this publication was his headline topic.  That’s a backhanded compliment. The text that follows the image shown is from his blog on that date and is unedited in any fashion.

GeorgeAllenEducateMHCBlogAnalysisFactCheckAnalysisDailyBusinessNewsMHProNews

 

 

Nobody Else Will Tell You This!

Enough of the Name Calling, Sensationalist Caterwauling, & Questionable Claims!

Since 2009, manufactured housing’s nadir (‘worst’) year ever, when only 48,789 new HUD-Code homes were shipped nationwide, we’ve collectively and simultaneously endured and experienced:

  • The loss of easy access to chattel capital for new home loans in communities
  • Two venerable trade magazines ceasing publication (i.e. Manufactured Home Merchandiser and The Journal)
  • Two new trade pubs birthed (i.e. MHInsider and Manufactured Housing Review)
  • A near continuous online diatribe (‘bitter & abusive denunciation’) of one – but not both, national advocates for manufactured housing (i.e. MHI but not MHARR), one or another state association executive (e.g. WI being latest target), and specific corporate executives (e.g. from Clayton Homes & 21st Mortgage) not aligned with a particular yellow journalist’s views of the manufactured housing industry.

ENOUGH IS ENOUGH! Together, as an industry and realty asset class, we should be; no, we must be, ‘working together’ to eclipse 100,000 new HUD-Code housing shipments during year 2019. Also to offset negative press coming from social activist quarters regarding predatory site rent practices foisted on homeowners/site lessees! But such a coming together will continue to elude us as long as an industry outlier broadcasts speculative contrarian tripe, tearing down manufactured housing and land lease community business models at will!

SOLUTION? Make it a point, henceforth, to support your state manufactured housing association as an active member, as well as one or more of three national advocacy bodies (i.e. MHI, MHARR & now, NAMHCO). Also ensure you’re on the receiving end of MHInsider magazine, Manufactured Housing Review online ezine, the Allen Letter (if a land lease community owner/operator), and the Allen CONFIDENTIAL! business newsletter – if a top housing manufacturer or portfolio executive!

Frankly, that’s ALL YOU NEED TO READ & BELIEVE, to stay cogently, accurately, and timely informed about industry and asset class matters! Resist any temptation to succumb to reading anything by anyone engaged in name calling, sensationalist caterwauling, and questionable claims! JUST DO IT – resist the temptation to muck & muddle your thinking. You’ll be glad you did!

If you need contact information relative to trade entities and publications identified in the previous paragraphs, simply let me know via gfa7156@aol.com or (317) 346-7156. And to subscribe to the Allen Letter and or the Allen Confidential business newsletter, visit www.educatemhc.com

FiskFiskingDefinitionManufacturedHssuingIndustryDailyBusinessNewsMHProNews

 

 

Fisking – Unpacking Allen’s Missive

In no particular order of importance.

  • Allen tells his readers who to read, and who not to read. That’s his first amendment protected right, up to the point that he may be part of an organized boycott effort, because a boycott can become legally questionable in antitrust and other types of legal controversies.
  • Allen fails to admit that he and his inner circle are reportedly regular readers here on MHProNews. Thank you, to all of our readers.  Pardon the hypocrisy of some who tell others not to do, what they themselves do.  The fact that he and his circle read here is implied by his attempted critique.
  • It is Allen who fits the caterwauling definition, because what he gave are emotional appeals and red herrings, not an actual effort to debunk even a single factual claim made here or on MHLivingNews. There is no effort made by Allen to point out any failure in logic, any inaccuracy, or any of the evidence we’ve presented that sparked his public moaning.

Here is a pull quote that bears a nod of interest.

Together, as an industry and realty asset class, we should be; no, we must be, ‘working together’ to eclipse 100,000 new HUD-Code housing shipments during year 2019.”   The reality is that the industry will not be ‘working together’ – because some are arguably working to purportedly eliminate their industry competition, by direct and indirect means.  Allen’s related quote is equally lacking in logic. He wants people to support “one or more of three national advocacy bodies (i.e. MHI, MHARR & now, NAMHCO).” Excuse me, sir? MHARR and NAMHCO exist because MHI – in their view – have failed the industry.  It is an either or proposition. 

NealTHaneyNAMHCOWhyBreakawayfromManfuacturedHousingInstituteMHI

Once the rules of engagement and methods used are better understood, then one can often predict what will follow. 

DannyGhorbaniFormerMHIVpQuoteFoundingMHARRPresidentQuoteDailyBusinessNewsMHProNews

 

Why Hasn’t Allen Explained to MH Community Readers How Clayton/21st Hurt Their Interests?

Note that neither Allen, nor anyone else in the orbit of industry publishing he has cited has attempted to debunk the documents, direct quotes and evidence linked from the text-image box below.

 

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. Why hasn’t George F. (F?) Allen told his readers how that cost them money? Why is Allen giving perps cover?

 

What Allen fails to tell his readers is how that attack on industry independents harmed independent owners of manufactured home communities.  Yet Allen claims to be their protector.  How so? Isn’t he giving other big time cons cover?

Allen cited in this and a prior posting about the Manufactured Housing Association for Regulatory Reform (MHARR) and the National Association of Manufactured Housing Community Owners (NAMHCO).  Those associations are both breakaways from MHI. They exist because each trade group’s members believed that MHI wasn’t getting the job done properly.

Allen fails to mention that important fact. By contrast, MHProNews has not missed that obvious mark.

Calls for ‘unity’ by Allen or MHI sound good, warm and fuzzy — until they are carefully examined. Unity behind what? Unity with what goal?

If the big boys absorb the smaller firms at a discounted value due to market manipulation, that’s unity.  Is that the unity that Allen wants?  Why is Allen de facto working for the interests of the consolidators that he periodically takes pot-shots at? Isn’t it just another head-fake?

What Allen ignores in his missive – either through ignorance or perhaps from incentives offered by the ‘big boys’ – is that a key reason that the industry is underperforming is rooted in the Omaha-Knoxville-Arlington axis and their allies.  Allen makes no effort to debunk the evidence published here or on MHLivingNews for that claim.  Why would he?  The powers that be and their own attorneys won’t touch that topic in public, and perhaps with good reason. So, in goes GFAllen…

Allen ignores the fact that Clayton has been the source of embarrassment to the industry, starting not long after Warren Buffett bought them for Berkshire Hathaway.

 

 

Thus, it is unlikely that Clayton, 21st, or MHI will publicly respond to our published – documented, and evidence based – concerns.

Allen laments Frank Rolfe, predatory community operators, and the John Oliver video errantly dubbed “Mobile Homes.”  But what F (F?) Allen fails to mention is that MHI is connected to each operation in that Oliver video. Ooops.

Several Florida newspapers opted to run the same letter sent by our publisher.  The reportedly did so only after an editor checked the claims and sources, per the editor that did the fact checking. The letter was sent to only 1 publication, but at least 5 have run it.

 

 

Those claims lodged here, on our sister site MHLivingNews, and summarized in that 300 word letter published in the 5 links above all remain unchallenged.

MHARR’s new initiative, that Allen both praises and slams at the same time, exists precisely because MHARR states their belief that MHI has so dropped the ball on post-production issues that they have no other choice but to try to act where MHI is failing to do so.

 

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

 

It’s America.  People are free to write a huckster and incentivized mouthpiece a check if they want to do so. They are free to read Allen or attend his meetings.  Those that go say the networking is pleasant and useful, but some lament the ‘education’ part of it.

But what SECO and the Allen Roundtable arguably prove is that professionals in manufactured housing are so desperate for answers and professional opportunities, that they will listen even to someone with his track record of recent years. In years gone by, Allen helped found the National Community Council (NCC), which is part of MHI. But more recently, Allen himself has quit MHI and the NCC.  Allen himself won’t pay to go to their fundraisers, errr, ‘meetings.’

Allen has positioned himself to fill a vacuum.  As soon as someone else steps up and offers an alternative, don’t be surprised if his meetings and ‘education’ vanish like a fleeting morning fog in sunny Florida.

Once more, our publisher invites Allen – or the Omaha-Knoxville-Arlington axis – to publicly dispute and disprove

  • in front of a live audience of industry professionals,
  • with moderator and
  • on camera any of the claims made here on pro-growth MHProNews or MHLivingNews.

You can’t solve a problem by ignoring the root causes.  That’s what Allen either doesn’t get or has arguably been incentivized to ignore and obscure.

Thus despite Allen’s caterwauling and attempted slight of hands, our published case against the Omaha-Knoxville-Arlington axis, their surrogates and allies stands.  If any of these concerns or allegations we’ve reported or that others have raised were easily disproven, why hasn’t anyone in the Omaha-Knoxville-Arlington orbit and/or their surrogates stepped up to the plate and made the public effort?

GeorgeFAllenPhotoEducateMHCMobileHomeLandLeaseCommunityAdvocateExpertLogoManufacturedHousingMHProNews

People can make mistakes, and people can be misled. But the mature person admits an error, and that is part of the Society of Professional Journalists code of ethics. Make corrections promptly and prominently. Where has Allen ever admitted an error? He was either right to condemn MHI before, or right to defend them now. He can’t have it both ways.

Conclusions? 

George F. (F?) Allen (GFA) is arguably either:

·        confused,

·        clueless,

·        corrupt,

·        or some combination of those.

As noted, Allen and his buddy Spencer Roane have been given the opportunity several times to debate the issues he laments publicly with our publisher in a moderated session, on camera, in front of a live industry professional audience. Allen and Roane both keep ducking that offer. Shall we add the word cowardly to the bulleted Cs above?

BTW, that same offer to discuss and debate the issues has been repeatedly extended to the Omaha-Knoxville-Arlington axis. Allen has apparently been carrying water for them in recent months, and perhaps this is missive by GFA their reply.  But given the history of Allen previously decrying their rigged system, as was shown above, what was the MH Axis thinking?  Can’t they come up with a better surrogate? If not, doesn’t that speak volumes too? 

 

UnderstandingWarrenBuffettCastleMoatMetaphorsQuotesDailyBusinessNewsMHProNews

Never forget that even during medieval times, castles and their moats were in fact breached. And ponder that GF Allen may just be another piranha, shark, or alligator in the Buffett moat.

 

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

 

ManufacturedHousingProNewsMHProNewsConfidentialTipsDocumentsNews

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

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

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

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

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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.

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

3) Marketing, Web, Video, Consulting, Recruiting and Training Re-sources

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

Related Reports:

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Legacy Housing Corporation’s $10 Million Stock Repurchase, Plus Manufactured Home Market Updates

April 23rd, 2019 Comments off

CNNmone4.23.2019ManufacturedHomeStocksMarketsReportsMHProNewsDays before the drama that culminates with Easter, Legacy Housing announced a $10 million-dollar stock repurchase agreement.  There are times when as trade media it makes sense to hang back a bit to see how an announcement like that plays out.  This evening, we’ll survey the Legacy (NASDAQ:LEGH) announcement, and look at what others in the financial media had to say about the development. On a day when the major markets broadly rose, along with most manufactured housing stocks, Legacy’s buyback is our featured report.

 

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 belowafter 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.

 

Select bullets from CNN Money…

  • Kohl’s is going all-in with Amazon
  • Starting in July, you’ll be able to return your Amazon purchases at any Kohl’s store
  • LIVE UPDATES US stocks close higher, S&P 500 and Nasdaq hit record highs
  • Snap starts adding users again, stock pops 10%
  • What Facebook scandals? Its earnings are expected to dominate
  • Multiple Wells Fargo shareholders get kicked out of rowdy meeting
  • The world’s biggest metal exchange is getting serious about child labor and conflict minerals
  • Wing gets FAA approval in step toward drone delivery
  • As US sanctions take effect, Asia scrambles to find oil sources that aren’t from Iran
  • These drive-thru convenience stores are made out of recycled shipping containers
  • Attorney: Man who made threatening calls to Boston Globe will plead guilty
  • PERSPECTIVES Melinda Gates: How I learned to see agriculture (and everything else) as a gender issue
  • BREAKING NEWS Henry Bloch, co-founder of H&R Block, dies at 96
  • Boeing was supposed to make a big profit last quarter. That was before the 737 Max crisis
  • PepsiCo’s latest green product is a high-tech water cooler
  • Beyond Meat’s IPO plans give it a $1.2 billion valuation
  • Burger King is testing out an Impossible Whopper. This is why
  • Soylent was a tech company that sold food. Now it wants to go mainstream
  • Here’s why McDonald’s is ditching its fancy burgers
  • Carl’s Jr. tested out a CBD burger
  • Tesla doubles down on controversial strategy for self-driving cars
  • Tesla’s new Autopilot is amazing. But keep your eyes on the road
  • Elon Musk: Tesla will have robo-taxis by next year
  • Autopilot becomes a standard feature on most Teslas
  • Singapore’s race to develop self-driving tech

Select Bullets from Fox Business

  • Stocks close at all time high; oil at 6 month high
  • Large drug distributor settles with Trump admin over allegations it helped fuel opioid epidemic
  • Kohl’s to accept Amazon returns for free throughout the US
  • Apple CEO Tim Cook doesn’t think government can solve world issues alone
  • Coca-Cola coffee drink gets wide rollout by end of 2019
  • Warren Buffett thinks newspapers are ‘toast’. Here’s why
  • Russell Wilson buys Amazon stock for Seahawks linemen, here’s how much
  • Melinda Gates reveals the secret to 25 year marriage to Bill
  • Trump threatens to ‘reciprocate’ EU tariffs after Harley’s profits plummet
  • Teen sues Apple for $1B after its facial recognition software led to his false arrest
  • Gas prices to jump over $3 in red states this summer, oil expert says
  • Supreme Court weighs census citizenship question. What’s at stake?
  • H&R Block co-founder, Henry Bloch, dies at 96
  • Google-aligned Wing gets FAA approval for drone delivery
  • This Japanese billionaire lost $130 million on bitcoin
  • Amid minimum wage debate, Trump is giving Americans a raise right now
  • Health care is hard, but it’s even harder when you’re stupid
  • Varney: Green New Deal combines radical environmentalism and socialism
  • Samsung’s PR woes over Galaxy Fold issues
  • Economy’s impact on Trump’s 2020 reelection efforts
  • How the Trump administration ending Iran oil sanction waivers complicates China trade talks

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

9MarketIndicatorsYahooFinance4.23.2019DailyBusinessNeawsManufacturedHousingIndustryStocksMarketsReportsDataMHProNews

 

Today’s Big Movers

For all the scores and highlights on tracked manufactured home connected stocks today, see thBloomberg graphic, posted below.

Today’s MH Market Spotlight Report –

LegacyHousingCorp$10MillionStockRepurchasePlusManufacturedHomeStockUpdates600

Nasdaq and Seeking Alpha (SA) largely stuck to the published announcement by Legacy Housing Corporation (LEGH) on April 12, when the still relatively new publicly-traded firm published their stock buy-back program.

SA did produce the following graphic, which compares some publicly traded firms that investors compare when considering Legacy Housing.

 

PeopleWhoFollowLegacyLEGH=vsCVCO-SKY-NOBH-DailyBusinessNewsMHProNews

What’s odd, perhaps, is in publishing the comparison graphic above, that SA made no mention of Cavco’s ongoing challenge in navigating legal issues that began last November.  Those issues have led to a series of changes in their firm’s management. You can access that report via the image-text box below.

 

Cavco Industries Announces Latest Executive Level Changes

 

CavcoIndustriesCVCOBloombergTickerSince1108-2019DailyBusinessNewsMHProNews

Skyline-Champion has had their own road bumps, not as dramatic as CVCO, but nevertheless it has been somewhat reflected in their 1 year stock ticker history.

 

SkylineChampionSKYBloombergTickerSince6262018DailyBusinessNewsMHProNews

By comparison, Legacy has remained far steadier than those two larger firms.  Unlike the above, Legacy’s founders have a very large stake in the firm, which should and does give many investors confidence.

LegacyHousingCorpLEGHBloombergTickerDailyBusinessNewsMHProNews

Perhaps the biggest issues that face the industry are internal or internally fueled.

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

Headlines like the reports above and below – properly understood – could be read in a ways that would increase confidence in Legacy vs. other Manufactured Housing Institute (MHI) publicly-traded member firms.  The reasons are more complex than this report allows for, but the linked reports will help set that stage for another time.

Warren Buffett, Affordable Manufactured Homes, Expert L.A. ‘Tony’ Kovach’s Clayton Homes Counter

 

That said, our normal disclaimers stand.  We have no position in any stock reported here and have no plan to open a position in any of these stocks soon.  That leaves us free to scrutinize a firm based upon insights that the Daily Business News on MHProNews gleans as the industry’s most-read and independent trade media.

Here’s Legacy’s original release.

 

BEDFORD, Texas, April 12, 2019 (GLOBE NEWSWIRE) — Legacy Housing Corporation (NASDAQ: LEGH) today announced that its Board of Directors has approved a stock repurchase program that will enable the Company to repurchase up to $10,000,000 of its outstanding common stock.

“This share repurchase program is a confirmation of our ongoing belief in our future and our commitment to delivering value to our shareholders,” said Curt Hodgson, Executive Chairman of the Board. “Our strong balance sheet allows us to adopt this stock repurchase program while still having resources to continue to fund our existing operations and future growth.”

The timing and amount of any shares purchased will be determined by the Company’s management based on its evaluation of market conditions and other factors. The repurchase program will be in effect until April 11, 2022.

The repurchase program will be funded using the Company’s credit capacity.  As of December 31, 2018, we had a borrowing capacity of $51.3 million under two revolving credit facilities.

About Legacy Housing Corporation

Legacy Housing Corporation builds, sells and finances manufactured homes and “tiny houses” that are distributed through a network of independent retailers and company-owned stores and are sold directly to manufactured housing communities.  We are the fourth largest producer of manufactured homes in the United States as ranked by available from the Manufactured Housing Institute. With current operations focused primarily in the southern United States, we offer our customers an array of quality homes ranging in size from approximately 390 to 2,667 square feet consisting of 1 to 5 bedrooms, with 1 to 3 1/2 bathrooms.  Our homes range in price, at retail, from approximately $22,000 to $95,000.

Statements in this press release, including Legacy’s statements about its intentions to repurchase shares of its common stock from time to time under this stock repurchase program and the potential source of funding or intended use of any repurchased shares, constitute forward-looking statements as defined in the Private Securities Litigation Reform Act.  Forward-looking statements involve substantial risk and uncertainties that may cause actual results to differ materially from expectations. Forward-looking statements represent our beliefs and assumptions only as of the date of this press release.  We disclaim any obligation to update forward-looking statements, except as required by applicable law.

Investor Inquiries:

Neal Suit, (817) 799-4906
investors@legacyhousingcorp.com

or

Media Inquiries:

Casey Mack, (817) 799-4904

pr@legacyhousingcorp.com

 

Related Reports:

Legacy Housing Announces Corporate Role Changes, Plus Manufactured Housing Market Updates

Deer Valley Homebuilders Release w/Video Underscores Surprising Clayton Homes, Berkshire Hathaway Connections

HUD Secretary Carson to Host Innovative Housing Showcase Featuring Affordable Housing Solutions

B2B Statistics, Trends 2019 – April 2019 Snapshot of Manufactured Home Professional Readers

 

 

 

Bloomberg Closing Ticker for MHProNews…

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

NOTE: The chart below covers a number of stocks NOT reflected in the Yahoo MHCV, shown above.

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

4.23.2019DailyBusinessNewsManufacturedHousingConnectedMarketReportsBloombergMHProNews

 

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

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

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

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

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

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

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

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

April 18th, 2019 Comments off

 

WarrenBuffettsExplotativeMobileHomeInvestmentKoriHaleInForbesRipsClaytonHoemsBerkshireHthawayredatorManufacturedHomePracticesMHProNews

Starting with the featured image, which may have been provided by a Forbes staffer, and moving on to terminology errors, it must be noted that Kori Hale’s allegations against Warren Buffett led Berkshire Hathaway’s Clayton Homes and related lending units includes inaccuracies.  But that doesn’t mitigate the fact that the thrust of Hale’s comments are devastating, especially coming from the black-female CEO of CultureBanx.

 

Here is the link to her column on Forbes, entitled Warren Buffet’s Exploitative Mobile Home Investment, which is being reproduced below under fair use guidelines for commentary and analysis.

 

Warren Buffett’s Exploitative Mobile Home Investment

Kori Hale Forbes Contributor – I’m the CEO of CultureBanx, redefining business news for minorities.

 

TWEET THIS

Warren Buffett’s company Clayton Homes, the biggest mobile home manufacturer in the U.S. has continued to profit from high interest rate loans. The Oracle of Omaha has sold low-income Americans the dream of ownership for nearly 20 years, and his investment company Berkshire Hathaway makes money on the loans, since they own the company that Clayton urges its buyers to go through. Many of the people buying these homes are minorities and have helped to fuel Clayton’s $13.7 billion mortgage portfolio.

 

The Breakdown You Need to Know

Clayton operates the two biggest mobile home lenders, 21st Mortgage Corporation along with Vanderbilt Mortgage. Clayton finances more mobile home loans than any other lender by a factor of more than seven. CultureBanx noted that in 2105, 72% of black borrowers got their loans from Clayton’s Vanderbilt Mortgage and 21st Mortgage, according to FFEI federal data.

They have outsized dominance in the manufactured home market with a 49% share, and where profit margins are greater. Buffet’s Clayton company brought in $765 million in revenue, in 2017.

Mobile home loans are similar to car loans because they’re typically classified as personal property, instead of real estate. Interest rates can be as high as 13.5% or more, and like a vehicle, lose as much as half its value in three years. These rates make it hard for mobile-home owners to leverage equity from their purchase in order to buy a traditional home.

Capitalizing on Trailer Debt

Families who are able to get a loan for their mobile homes generally lease the land on which it sits, a common practice in this industry that can trap people in a cycle of debt. The national monthly average to rent a space in a trailer park is around $250 and can be as high as $600. Trailer parks tend to be built in warmer climates, with Mississippi and Alabama having some of the highest rates of mobile homeownership.

If you’re thinking mobile homes are perhaps only for an older demographic you would be wrong. The majority of mobile-home residents, 23% are between the ages of 18 to 29 and have an average household income of $28,400. If that’s not alarming enough, in 2015, the average sales price for a new manufactured double-wide home was around $110,000.

There are some mobile home communities attempting to rezone trailer parks, to prevent owners from selling the land to developers that may raise the rent even higher. If residents are able to pool their resources together and buy the park, it would give them the opportunity to run it as a co-op.

###

KoriHaleCEOCulturebanxLinkedInDailyBusinessNewsMHproNews

FactoryHousingEvolution101TrailerHouseMobileHomeManufacturedHome-768x601

 

Once more, the point of sharing this Forbes column to MHProNews readers isn’t to confirm, challenge, or corroborate this or that claim made by Hale’s, the author of the above published Op-Ed this morning.  Rather, it is to raise the related point that is often at the core of the industry’s image challenges.

The bad news that often harms the industry’s image routinely comes from Manufactured Housing Institute (MHI) connected firms, the largest of which is Clayton Homes, and their Berkshire Hathaway related lending and other brands.  consider this Google search screen capture, done this morning.

 

ClaytonHomesMobileHomeFinancingNewsHeadlinesDailyBusinessNewsMHProNews765

 

The first steps to organize independents into a new post-production trade group are underway.  To learn more contact us in confidence via the link here.  Use the words New Association Inquiry in the subject line.

See the related reports to learn more, found further below the byline, offers, and notices. That’s another episode of manufactured housing “Industry News, Tips, and Views Pros Can Use© where “We Provide, You Decide.” © ## (News, analysis, and commentary.)

 

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

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

 

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

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

HUD Study, Analysis of Zoning Discrimination Against Manufactured Housing Sought

HUD Code Manufactured Home Production Decline Continues

“The Illusion of Motion Versus Real-World Challenges”

 

 

 

 

 

 

 

 

 

 

 

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

April 18th, 2019 Comments off
InsiderTipSellingAccesstoHUDSecretaryBenCarsonManufacturedHousingInstituteLOGOLatestRazzleDazzleMHProNews600

If the shoe fits…satirical MHI logo provided under fair use guidelines.

The definition given by Dictionary of the noun razzle-dazzle reads in part as follow, with the bold added for emphasis: “Informal. showiness, brilliance, or virtuosity in technique or effect, often without concomitant substance or worth; flashy theatricality: The razzledazzle of the essay’s metaphors cannot disguise its shallowness of thought.”

 

The Urban Dictionary defines the term ‘dog and pony show’ in similar terms. “Man do the ignorant apathetic masses eat up this dog and pony show.”

Dog and pony show” is a colloquial term which has come to mean a highly promoted, often over-staged performance, presentation, or event designed to sway or convince opinion for political, or less often, commercial ends,” said Wikipedia.

 

So razzle dazzle, or dog and pony show are designed to catch the eye and impress, even if there is no substance or practical usefulness to it. With that backdrop is this following insider tip. The words in brackets are added for clarity, our common MHProNews bold and brown are added to make a direct quote pop, but the comments – typos and all are in the original – are from an insider with knowledge of the developments in the manufactured housing industry’s version of ‘the Swamp.’

On the BC [Ben Carson] matter, though, you are absolutely right, as they use these stuff for dog and pony show, but never ask these people [at the Manufactured Housing Institute] to get something tangeable done for the industry and consumers…waste of the industry’s hard-earned clout.”

 

ManufacturedHousingInstituteMHICongressExpo2019BenCarsonPhotoOpSpeechDailyBusinessNewsMHProNews

From an MHI email to their members earlier this week. Such an address by HUD Secretary Ben Carson, MD, could be useful or not.  Will Secretary Carson do something substantive, that will help the industry, consumers, and HUD? Or is this just another photo op? Time will tell.

 

GotClout-questionmark-GetItHere-MHI-ManufacturedHousingInstitute-postedMHProNews-com-

The Daily Business News with MHProNews was previously tipped some time back about the red herring use of photo ops with political figure by Manufactured Housing Institute (MHI) and members of Congress, federal or state officials.  Photo ops are morally neutral, the specifics of how it is used is the question. In MHI’s case, per insiders, they are literal ‘head fake’ attempts to impress the rank and file industry member with their access – what MHI touts as clout – but without actually producing any useful results.

This new allegation would suggest that MHI is selling access to photo opportunities to Secretary Carson, because it costs hundreds of dollars to attend MHI’s Congress and Expo.

People love selfies and photos with celebrities and famous people. The desire for a photo with a notable person can include public officials. The photo of Nathan Smith with Vice-President Joe Biden, or the signed photo from Barack Obama serves to make the point.

 

 

One reason that presidential or other campaigns make coffee shop, restaurant, factory, or other stops is precisely to give ‘real people’ the opportunity to have a photo made with them. It is a practice done by people of both major parties. Those photos become free ads for a politico on social media, emails, texts or other more traditional ways to commemorate that moment. MHProNews team members are not immune to that phenomenon; we have photos with notables and officials too. We have not opted to publish such photos recently of a given team member with some well-known political personality. Doing so could be misinterpreted.

 

 

It’s a Profit Center

An upcoming analysis of the MHI 990s make it clear that meetings and events like their ‘Congress and Expo’ are profit centers. They earn significantly more from such an event than the cost to put it on.

In essence, per another source with insider knowledge, what the Arlington, VA based Manufactured Housing Institute (MHI) is doing is “selling access” for “photo opportunities” with HUD Secretary Ben Carson in this case, or with other figures in various instances. Professionals got photos last year with Secretary Carson or others and more will doubtlessly do so this year. That’s not necessarily a slam on Carson or HUD. It is what it is.

Both MHI and HUD will be given an opportunity to respond to these concerns.

 

Where is the Practical Use of MHI Access and Clout?

The quote at top is a key to understanding the emergence of the puzzling picture that is manufactured housing today. If MHI has such “clout,” when they have photos with several key people in the Trump Administration, or with Democrats or the GOP in Congress, why aren’t they using it to gain real results? Why is MHI proudly pushing a speech and photo opportunities?

Why aren’t they asking and OBTAINING Secretary Carson’s potentially powerful position for HUD’s intervention in areas like

Or why haven’t they shown results in obtaining:

  • Eliminating the 10/10 rule on FHA Title I loans?
  • A broad use of the Duty to Serve lending by the GSEs for all manufactured homes, not just for the Clayton Homes promoted ‘new class of homes?’

The list of possible ‘asks’ by MHI and their ‘big boy’ masters could go on.  One might note what MHARR said to Fannie Mae’s new CEO, when they made the point that failing to implement DTS (or by inference, other such policies) adds to the profitability of Berkshire Hathaway owned brands in manufactured housing.  It gives Clayton and their sister companies an outsized influence.  It makes the point that MHI award-winner Marty Lavin previously made, doesn’t it?

 

Wasted MHI Clout? 

If MHI has such clout, as they have claimed for years in graphics like the above, why didn’t the stop the hit against their own prominent members in the John Oliver viral “Mobile Homes” video?

If MHI has such clout, why is the primary media narrative arguably against the industry’s homes and communities, rather than for it?

MHI can no longer as easily escape with the ‘head fake’ photo “razzle dazzle” or “dog and pony show” techniques any longer, so long as MHProNews and/or any others spotlight what they are and have been doing for years.

ManufacturedHousingInstituteLogoMHILogoSupportersofMHIElevatedTopAdminPositionsDailyBusinessNewsMHProNews574

What have these prior photo ops actually resulted in, other than photos?

Rhetorical or visual red herrings are a deceptive ruse arguably designed to deceive and impress independents or others without delivering any actual and measurable results. MHI is collecting millions in dues, and what do they have to show for it?  Why is the industry performing at a lower total production rate today than the year that Warren Buffett entered the industry over 15 years ago?

 

2018-12-10_0949SkyChampionManufacturedHousingShipmentHistoryDailyBusinessNewsMHProNewsNov2018

Skyline-Champion (SKY) is an MHI member.  They are making the case in the chart above that there is upside.  Of course there is, but why isn’t that upside being achieved?  It is self evident to those who look at history and the facts that the industry is under-performing. Several MHI member companies have said as much, in their own IR presentations. Rollohome went from zero to 60,000 new homes shipped in 2 years. What was done before can be done again, better, faster, and with sustainable results, thanks to existing laws.

 

MHI obtained a video with Secretary Carson, and a video with previous HUD Secretary Julian Castro. Castro is currently seeking a run at the White House as a Democrat. Dr. Carson is a well-known member of the GOP, and as a Republican, sought his party’s nomination as president in the 2016 campaign cycle.  Why are those videos touting bi-partisan praise for the industry not on the home page of their website?  Why instead are they a challenge to find?

The evidence and reasons suggests – and the Omaha-Knoxville-Arlington axis has not yet denied or explained away – the claim that the “Illusion of Motion” has made MHI money, while the industry continues to consolidate into ever fewer hands.  MHI meetings have become ‘Buffett’s Big Boy Buffet.’ Members pay for the honor of potentially becoming the next meal for a corporate giant.

If the industry was performing near their historic norm, or to the industry’s potential, then the value of those businesses arguably would be higher.

WarrenBuffettAZQuoteCriticalFactorDetermineValuePayFairBargainPriceMHProNews

Does MHI, Clayton Homes, et al’s failure to seriously move the needle to advance the industry de facto benefit Berkshire Hathaway and others who are consolidating the industry at effectively depressed prices? If so, is MHI engaging in unethical or perhaps illegally deceptive trade practices?

Is it a coincidence that failing to fight and win media image, to fully implement good laws, to overcome regulatory or other hurdles creates shark-like resistance?  Meanwhile, the manufactured home industry staying smaller limits the attraction of new competition, and that pattern allows Warren Buffett and his de facto allies to buy up chunks of the industry at a discount? Aren’t these useful in doing exactly what Buffett has said in his own words?”  That summarizes points that publisher and industry expert L. A. ‘Tony’ Kovach has made.

GoodBusinessIsLikeAStrongCastleWithaDeepMoatAroundItSharksIntheMoatIwantItUntouchableWarrenBuffettQuoteDailyBusinessNewsMHProNews

Sometimes the truth is hiding in plain sight. Follow the facts, evidence, and the money.

The industry’s independents in MHI ought to demand their money’s worth, or seek new structures that achieve the claimed goals of the Arlington based association that claims to represent “all segments of factory-built housing.”

 

UnderstandingWarrenBuffettCastleMoatMetaphorsQuotesDailyBusinessNewsMHProNews

Never forget that even during medieval times, castles and their moats were in fact breached. These lessons are not shared to discourage, but to identify the root issues, so that they can be successfully addressed.  One of many things that Secretary Carson could do is ask the FTC and DOJ to investigate allegations of violations of antitrust and other laws.

 

Photo ops and nice speeches are fine, and we can all enjoy them.  But it is measurable results that the industry needs, and the same applies to current manufactured home owners and the roughly 100 million living in rentals, most of who want to become a home owner.” says Kovach.

The time for razzle dazzle and head fakes is over. The industry continues to be consolidated.

See the related reports to learn more, found further below the byline, offers, and notices.  That’s this morning’s edition of manufactured housing “Industry News, Tips, and Views Pros Can Use© where “We Provide, You Decide.” © ## (News, analysis, and commentary.)

 

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

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

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

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

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3) Marketing, Web, Video, Consulting, Recruiting and Training Re-sources

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

Related Reports:

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For Want of a Nail – Manufactured Housing

Cui Bono? “Killing Me Softly,” Manufactured Housing’s New Theme Song?

 

 

 

 

 

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

April 17th, 2019 Comments off

 

FoundationForActionHughFraterCEOphotoFannieMaeLogoOnNoticeRobustPersonalPropertyManufacturedHomeLendingDailyBusinessNewsMHProNews

Congress, as part of the Housing and Economic Recovery Act of 2008 (HERA), enacted the Duty to Serve Underserved Markets (DTS), a remedial mandate which directs Fannie Mae and Freddie Mac to “develop loan products and flexible underwriting guidelines to facilitate a secondary market for mortgages on manufactured homes for very low, low and moderate-income families.” (See, 12 U.S.C. 4565(a)). In addition, to ensure that the term “mortgages” is not misconstrued to limit the scope of DTS to manufactured home real estate “mortgage” loans, the same section of HERA expressly provides that “in determining whether an Enterprise has complied” with DTS, the Federal Housing Finance Agency (FHFA) “may consider loans secured by both real and personal property.” (I.e., home-only “chattel loans”). (See, 12 U.S.C. 4565(d)(3)).”

 

 

So said Mark Weiss, JD, President and CEO of the Manufactured Housing Association for Regulatory Reform (MHARR) in a letter to Hugh R. Frater, the new Chief Executive Officer (CEO) of Fannie Mae.  As is customary for MHProNews, the quotes from the document shown herein are in bold and brown text, but the phrasing is as in the original, which is linked here as a download.  MHARR’s accompanying press release, is linked below.

 

 

Fannie Mae is one of the Government Sponsored Enterprises (GSEs).  The letter from MHARR to Fannie Mae makes several important points.  But it should also be understood as a possible predicate for other action.  The view from the Daily Business News on MHProNews on this matter is this.  With a FexEx delivered letter, there is arguably reduced ‘plausible deniability’ for a top man at Fannie Mae.

Rephrased, looking at this from a lay view with a legal lens, they appear to be on notice.

But there is more at play here, because there is a broadside shot at the Omaha-Knoxville-Arlington triangle too.

Here is how that is teed up, as MHARR has repeatedly emphasized in DTS implementation comments to FHFA, the Administration, Fannie Mae and Freddie Mac, as well as in congressional testimony, DTS, without market-significant levels of securitization and secondary market support for manufactured home chattel loans, cannot and will not achieve its remedial objectives within the manufactured housing market as mandated by law.”

Weiss’ letter for MHARR goes on to say, that the GSE’s failure “continues to unduly restrict and constrain the market for inherently affordable, non-subsidized manufactured homes (which again, in 2018, failed to reach its historical production benchmark of 100,000 homes per year), while forcing consumers to pay higher-cost interest rates for manufactured home chattel loans due to extremely limited competition and the parallel domination of the manufactured home consumer lending market by a small number of existing lenders, which primarily are subsidiaries of the largest industry conglomerates, such as Berkshire-Hathaway-owned Clayton Homes, Inc. (Clayton).  Fannie Mae obsequiously describes this de facto stranglehold on the manufactured housing consumer lending market as lending that is “somewhat consolidated amongst a small group of prominent chattel lenders.”

 

 

Harm to Consumers and Independent Businesses Caused by Government Sponsored Enterprises

MHARR argues that Fannie Mae – and by inference, Freddie Mac – having failed to follow their Duty to Serve legal mandate harms home owners, prospective buyers, and independent manufactured home industry businesses.

Fannie Mae’s failure to implement DTS in a market-significant manner, with respect to the vast bulk of manufactured home consumer loans, more than ten (10) years after the enactment of that mandate, has caused and continues to cause significant harm to both American consumers of affordable housing and the manufactured housing industry. In particular, this failure has disproportionately impacted – and continues to have its greatest negative impact – on smaller, independent manufactured housing businesses, which, unlike the industry’s largest conglomerates, do not have the luxury or advantage of controlling captive consumer financing subsidiaries or affiliates.”

Readers may recall an applicable quote from Weiss, shown below.

 

MHARRMarkWeissIfCongressHadMeanttheDutytoServeToBeOptionItWouldNotHaveCalledItADutyDefintionofDutyIsMandatoryResponsibilityDailyBusinessNewsMHProNews

 

Meaningless Meetings, the “Illusion of Motion”

The “illusion of motion” is a phrase used from a recent analysis by MHARR that is linked in the quoted phrase above.

It should be noted that Fannie and Freddie are both paying the Manufactured Housing Institute (MHI) to co-sponsor their events.  That raises ethical and conflict of interest questions.  But it also raises questions such as those that follow.

 

  • If MHI has so much clout, as they claim to their members, industry professionals, and prospective members, why is there so little progress toward full DTS implementation?
  • Is Fannie and Freddie paying MHI not to make waves for them, while they slow walk implementation?
  • Cui bono? Who benefits from slow walking the full implementation of DTS?

 

It must be recalled the point that Weiss makes above, namely that the: “extremely limited competition and the parallel domination of the manufactured home consumer lending market by a small number of existing lenders, which primarily are subsidiaries of the largest industry conglomerates, such as Berkshire-Hathaway-owned Clayton Homes, Inc. (Clayton).”

In science, logic, or journalism, one looks at the evidence and applies certain logical ‘tests.’  One of the possible conclusions one can come to is that Fannie, Freddie, MHI and their ‘big boy’ firms have worked to limit lending, to the benefit of Berkshire Hathaway owned finance firms.

By contrast, sources at Credit Human and Triad Financial Services have worked to advance lending by the GSEs, because it would be good for the industry. As a high-level source told MHProNews, it isn’t more profitable for their firm to get the GSEs to do robust chattel and other lending on all manufactured homes, not just the openly Clayton-backed ‘new class of homes.’

Rephrased, it would be misleading to say that everyone in MHI is essentially slow-walking or foiling GSE lending.  There are those working for ‘big boy’ companies that privately oppose the alleged rigging of the system against the interests of consumers and independent companies.

Time will tell what Fannie Mae – or for that matter, Freddie Mac – will do.  We have sources with ties to MHI that say that they expect some modest personal property or chattel lending activity sometime this summer.  But what MHARR is pushing for – as are some others in MHVille – is market significant lending.

The higher rates are often the focus of attacks on the industry by groups such as MHAction, or in that viral video by John Oliver misnamed “Mobile Homes” are often linked back to the lack of lending options that keep rates lower.

ManufacturedHousingProNewsMHProNewsConfidentialTipsDocumentsNews

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

Note that MHProNews continues to periodically reach out to the GSEs or the Omaha-Knoxville-Arlington axis leaders or spokespeople to correct or confirm concerns like those raised.  They’ve maintained their constitutional right to remain silent, which is to be respected, but that also leaves these concerns unchallenged to serious researchers and thinkers.

 

See the related reports, further below the byline, offers, and notices.

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

 

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

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

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

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

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

3) Marketing, Web, Video, Consulting, Recruiting and Training Re-sources

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

Related Reports:

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

 

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The “Need For Quality Affordable Housing Has Never Been Greater,” Says LT

Profiting & Correcting – Manufactured Housing Traps, Pitfalls and Swindles

Cui Bono? “Killing Me Softly,” Manufactured Housing’s New Theme Song?

 

Manufactured Housing Institute Members Defending MHI, Great Debate About Manufactured Home Industry Progress, Problems, and Profits

 

 

 

 

 

 

 

 

 

 

 

Tax Day Infographic, Fascinating Facts At A Glance

April 15th, 2019 Comments off

TaxDayInfographicFascinatingFactsAtAGlanceManufacturedHousingIndustryDailyBusinessNewsMHProNewsUnless you are in Maine or Massachusetts, taxes have to be filed, or an extension and any payments due must be submitted by mail or electronically today.  As WalletHub put it, “No one likes Tax Day, except for accountants and Uncle Sam.”

 

They go one to say that, “We’ve spent billions of hours preparing billions of dollars in payments since tax season began Jan. 28. We’re grappling with a tax code that’s longer than all of the Harry Potter and Game of Thrones books combined. We’re also scrambling to satisfy and take full advantage of recent tax reforms. Tax preparation can be a frightening prospect for many people as a result.

MHProNews has raised the issue of the inefficiency of the tax laws before.  That noted, here is their insightful infographic.

 

TaxDayInfographicWalletHubManufacturedHousingIndustryDailyBusinessNewsMHProNews

Since the tax cuts of 2017, tax revenues have risen.  But small businesses are arguably more hobbled by the complexities of the tax laws than larger ones.  The power to tax, the power to regulate is the power to destroy.

 

FedsCollectRecordTaxesOct2018CNSManufacturedHOusingIndustryDailyBusinessNEwsMHpronews

The tax cuts of 2017 resulted in more tax revenue. That fits the historic pattern, under Democratic President John F. Kennedy (D), or Ronald Reagan (R).

Two more factoids we’ve cited before are above and below.  We aren’t necessarily advocating for a flat tax, but it is worth pondering the issue.

 

MoneyTaxPreparations46TaxPreparers46DifferentEstimatesDailyPragerUDailyBusinessNewsMHProNews

If tax experts can’t agree, how are regular people supposed to accomplish the goal of an accurate tax return?

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

 

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Stephen Moore Would Challenge Fed’s ‘Growth Phobia,’ Plus Manufactured Home Equities Updates

April 11th, 2019 Comments off

CNNmone4.11.2019ManufacturedHomeStocksMarketsReportsMHProNewsMost manufactured home tracked stocks rose, while the major markets mostly slid today.  Properly understood and promoted, HUD Code manufactured housing out to do well in good times or bad, because there is always a need for affordable homes.  That said, our feature this evening is another follow up for the pending Trump Administration nominees to the Federal Reserve Board.  Herman Cain – however qualified – is hitting serious headwinds, and it includes some of the very factors we raised last week. Stephen Moore, might have the easier path.  Two items woven together this evening, one from Fox, and one from Bloomberg – both sides of the left-right aisle, which includes an insightful video interview with Moore are our features 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 belowafter 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.

 

LeftRightMediaSharylAttkissonDailyBusinessNewsMHProNews

Select bullets from CNN Money…

  • Amazon stands to gain from Sears’ demise
  • Hundreds of Sears stores stand empty. Whole Foods and Amazon are looking to move in
  • Jeff Bezos made $81,840 last year. He’s still the richest person in the world
  • What Bezos said in his letter to investors
  • LIVE UPDATES Google loses its VP and diversity chief
  • Tesla and GM electric car sales could get a big boost if this bill passes
  • Wall Street taught oil drillers restraint. That could lift oil prices
  • White House economist refuses to back Trump’s pleas for rate cuts
  • Julian Assange’s arrest could end as a test for press freedom
  • How a Russian-owned media outlet landed the first video of Julian Assange’s arrest
  • PERSPECTIVES I served in the Army for 35 years. Veterans have the skills that businesses need
  • Europe is about to get a bitcoin debit card
  • Why Ikea is opening a tiny store in New York
  • How to buy stocks that pay you back
  • It’s only April and Disney has already had a massive year at the box office
  • Bank of America will hike its minimum wage to $20
  • INTERACTIVE The US minimum wage through the years
  • American hiring bounced back in March, but a slowdown still looms
  • How tight is the job market? Taco Bell is throwing ‘hiring parties’
  • SpaceX faces a key test in the upcoming launch of its biggest rocket
  • NASA says it’s committed to Boeing-built rocket after considering alternatives
  • Why space is becoming a dangerous place to do business
  • She turns Elon Musk’s bold space ideas into reality
  • Why Florida still dominates the space launch game

Select Bullets from Fox Business

  • Elizabeth Warren’s new corporate profits tax would cost Amazon $698M, she says
  • Alexandria Ocasio-Cortez suggests the IRS should do your taxes for you
  • Taxpayers still outraged over IRS refund amounts as tax deadline draws near
  • Herman Cain’s Fed board bid in jeopardy, as GOP senators signal dissent
  • A ‘new era’ of retirement: This is what it means for you
  • Americans are getting over yogurt. Here’s why
  • AAF faces class-action lawsuits from players, employees after collapse: Report
  • Tesla, Panasonic halt Gigafactory expansion amid sagging vehicle demand: Report
  • Wells Fargo CEO drama eclipses struggling business
  • Masters Tournament concessions menu prices: Why food, drinks are so cheap at Augusta National
  • Masters Tournament’s green jacket: A mysterious sports symbol worth millions
  • Masters Tournament purse breakdown: A look at the winner’s share
  • Banks were ‘stupid’ during housing meltdown: Fmr. FDIC Chair
  • Fed pick Stephen Moore pushes free markets despite leftist backlash
  • The National Enquirer is up for sale after Jeff Bezos scandal
  • What ‘Game of Thrones’ finale means for HBO’s future
  • Massive IRS refund a mistake? Here’s what to do
  • There could be legal ramifications for spending money that isn’t yours.
  • Tax season tips: How to avoid an audit
  • Taxpayers in these cities tend to get larger refunds
  • Trish Regan: House Dems attack AG William Barr over Mueller report findings
  • What Beto O’Rourke gets wrong about the middle class and American wealth
  • The Federal Reserve needs (Stephen) Moore transparency
  • Trump is hitting the ‘reset button’ on DHS: Former acting ICE Director Tom Homan
  • Bernie Sander, Elizabeth Warren reveal wealth amid tax push
  • Bob Doll on US markets: We have to consolidate for a bit
  • Ray Dalio gives Connecticut $100 million, state’s largest gift ever
  • James Patterson donates $1.25 million to classroom libraries
  • Ken Griffin single-handedly boosted Manhattan’s real estate with $238M condo purchase

 

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

9MarketIndicatorsYahooFinance4.11.2019DailyBusinessNeawsManufacturedHousingIndustryStocksMarketsReportsDataMHProNews

 

Today’s Big Movers

For all the scores and highlights on tracked manufactured home connected stocks today, see thBloomberg graphic, posted below.

Today’s MH Market Spotlight Report –

 

StephenMooreWouldChallengeFedsGrowthPhobiaPlusManufacturedHomeStocksUpdate

There is no question that media is often tainted by spin from one side or the other of the political aisle, that’s why we often use that left-right media divide graphic noted further above.  That said, we are not among those who think that every report from every source is tainted. Having communicated with journalists for years, it is fair to say that some truly want to get it right, while others want to frame a story to fit an obvious or hidden agenda.

 

In our case, at MHProNews, w have and continue to state our agenda.  We’re pro-manufactured homes as a proven affordable housing solution. That means we are pro-industry growth, as well as pro-consumer, the final point made by MHI’s former President in a column linked here

While we are long-time professionals in our industry, our understanding has grown and evolved over time as to what the industry’s core problems are for underperformance. Articles like those linked here, here, or here explain some of that evolution.

The economy was propped up in part during the Obama Administration due to Fed policies like QEs. Those are being unwound during the stronger economy now.

With that tee up, there is little doubt, as Moore himself said, that the Fed was a factor in the headwinds near the end of last year.  MHProNews would say, there is more too it than that – pardon the pun – but the Fed was an avoidable, artificial headwind.

Two largely useful inputs on the Stephen Moore and the Federal Reserve issue.  The video is from Bloomberg, the commentary is an Op-Ed on Fox Business.   Each source is a useful bookend on this topic.

 

The Federal Reserve needs (Stephen) Moore transparency

By Adam Brandon

Potential Federal Reserve Board nominee Stephen Moore discusses his outlook for the U.S. economy and why the December rate increase was a mistake.

In choosing Stephen Moore as a potential nominee to serve on the Federal ReserveOpens a New Window. Board of Governors, President TrumpOpens a New Window. made a good faith gesture to the American people to bring more transparency to the Federal Reserve.

The Trump administration promised to “Drain the Swamp” and to hold Washington accountable to the American people. Without a doubt, a Fed board with Stephen Moore will bring us one step closer to achieving that goal. Moore would certainly shake things up as a fierce advocate of the taxpayer, and a vocal critic of the Federal Reserve. This, of course, makes him an enemy of the Swamp.

What is the Federal Reserve doing behind closed doors? This question has been asked countless times by economists wary of the government institution behind the wheel of the American economy.

When the Federal Reserve plays with money supply and interest rates, it changes the strength of the U.S. dollar and wreaks havoc on savings and investment. The Federal Reserve chairman is one of the most powerful officials in Washington, if not the global economy, and few citizens know his name.

It is correct to be skeptical of any government-run entity holding tremendous power with almost no transparency or oversight. The Federal Reserve is an independent central bank, but that doesn’t give it license to be a closed-door, secretive bank.

Moore is exactly the type of economist and thought leader the Fed board desperately needs. He spent years at nonprofit advocacy groups and think tanks, fighting to bring more transparency and accountability to Washington.

He is a former senior economist on the Congressional Joint Economic Committee, a former member of the Wall Street Journal editorial board, and currently a senior economist at FreedomWorks. He assisted two presidential administrations with economic research and advice. He is one of the most established intellectuals in the field of economics today.

The Washington establishment has done its worst to sabotage Moore in the media. Once again, a cabal of left-leaning consultants, lobbyists, lawyers and politicians are colluding together to protect the status quo at the expense of the rest of us. They are attacking Moore’s professional history, and his personal life.

They know Moore is not afraid to shake up “business as usual” in Washington, and they are trying to smear and ridicule him into silence. It’s not going to work this time.

With 35 years of experience as an economist, Moore is used to scrutiny. His platform as a syndicated columnist and network news commentator has allowed him to deliver a free-market message to millions of Americans nationwide. His public persona forced him to defend his economic analysis daily, often during hostile interviews and live debates.

Moore’s background as a visible communicator makes his record completely transparent and allows the Senate to know exactly where he stands. They know he will be a voice on the Fed board that sticks up for the American consumer and businesses. They know he believes in the pro-growth policies that are currently propelling the U.S. economy upward.

Moore would also bring a much-needed contrarian viewpoint to the Federal Reserve Board as they govern monetary policy. The Federal Reserve currently has a groupthink problem, and Moore is the solution. Unlike the current Fed board, Moore doesn’t believe economic growth causes inflation. He believes in promoting private sector growth, rising wages, job creation and a strong dollar.

The Senate must ignore the distractions and sideshows perpetuated by this Democrat-led smear campaign and proceed with Moore’s confirmation. A Federal Reserve Board of Governors with Stephen Moore would solidify a bold new path forward for Washington, one that puts the American people and U.S. economy first.

Adam Brandon is president of FreedomWorks.

 

Related Reports.

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Former Godfather CEO, GOP POTUS Contender Herman Cain to Join Fed? Plus, MH Stock Updates

 

 

 

Bloomberg Closing Ticker for MHProNews…

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

NOTE: The chart below covers a number of stocks NOT reflected in the Yahoo MHCV, shown above.

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

4.11.2019DailyBusinessNewsManufacturedHousingConnectedMarketReportsBloombergMHProNews

 

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

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

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

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

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

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

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