Source: MPA News – Retail home lender Rocket Mortgage has introduced its latest initiative. ONE+ allows homebuyers to make a down payment of no more than 1% of a property’s purchase price, with Rocket Mortgage covering the remaining 2% needed to meet the usual loan threshold amount. ONE+ also does away with the monthly mortgage...
Source: Respa News* -The U.S. The Department of Housing and Urban Development (HUD) announced appointments to its Manufactured Housing Consensus Committee. Three new members will be joining, while three current members have been reappointed. “Manufactured housing is an increasingly important affordable alternative for families across the nation,”Assistant Secretary and Federal Housing Commissioner Julia Gordon said...
Tesla CEO Elon Musk has plans to build his own town in the Austin, Texas area after purchasing thousands of acres. The town is being pitched as a sort of utopia that would run along the Colorado River, the Wall Street Journal reported. Executives at one of Musk’s companies, The Boring Company, have discussed plans...
Champion Home Builders and Champion Retail Housing, subsidiaries of Skyline Champion Corp, has closed on its previously announced $313 million acquisition of Mississippi-based manufactured home dealer Regional Enterprises. Regional Homes has 42 dealerships in Mississippi, Louisiana, Alabama, Florida, North Carolina, South Carolina, and Texas. “We are excited to announce the closing and to welcome Regional...
Source: Bestocks – Legacy Housing Corporation, a prominent player in the manufactured homes and tiny houses industry, has seen steady stock performance in recent times. On August 25, 2023, shares of LEGH stock opened at $21.23. With a market cap of $517.80 million, a price-to-earnings ratio of 8.01 and a beta of 0.85, Legacy Housing...
Source: FreddieMac – Manufactured homes – also known as factory-built homes – are an increasingly popular housing option that can be more affordable to buy and own than site-built homes. If you are thinking about buying a manufactured home, you should consider howto go about titling your home. In contrast to a site-built home, a...
Sales of previously occupied U.S. homes fell in July to the slowest pace since January as elevated mortgage rates and a stubbornly low inventory of homes on the market combined to discourage many would-be-homebuyers. According to The Associated Press, sales slumped 16.6% compared with July last year. It was also the lowest home sales for...
Newer manufactured housing ‘handled it decently’ after 2022’s Hurricane Ian, DeSantis said. Florida Governor Ron DeSantis continues to offer evaluations of how various types of construction in Florida fare during hurricanes. Speaking in Lake City, the Governor praised the surprising sturdiness of manufactured homes. “I was surprised at how resilient some of the mobile homes...
The following random facts validate manufactured housing as the answer to the American need for quality affordable housing, many contrasting the advantages over traditional new site-built and pre-owned homes. Headwinds in the housing industry are potential tailwinds for manufactured housing, as the competitive pricing and speed at which manufactured homes can be built. Furthermore, the...
Source: Reuters (9/1/23) – A group of the country’s largest corporate managers of mobile home communities and a market data provider were sued in U.S. court on Thursday for allegedly conspiring to inflate rental prices for older and low-income residents. Two Illinois residents who rented lots for their manufactured homes filed the prospective class action...
