Posted on May 29, 2008

Environmentalists have added to the list of groups with a critique against California's June 3rd initiative on eminent domain, Proposition 98.

Proposition 98 is one of two ballot referenda which would curb eminent domain. It has been a focus of MHR because it would also gradually phase out rent control, a protection that governs lot rents in many municipalities in California.

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Posted on May 29, 2008

If a mobile home is one that comes on wheels, than could a buy of such a product have a legitimate complaint if it turned out that mobile homes with wheels cost extra?

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Posted on May 28, 2008

Its not an impossibility that a recession could restore the manufactured housing sector.
Consumers often change their purchasing habits when times are tough. You know the logic -- less steak, more hamburger.

Today, we have evidence of some of that kind of thinking. Dollar Tree just blew away its earnings

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Posted on May 28, 2008

On June 3rd, voters in California will go to the ballot box to decide upon two initiatives on eminent domain.  One, Proposition 98, would also establish provisions to gradually phase out rent control in California.

There are many counties and municipalities in California that have utilized some kind of rent control in the mobile home communities.  One list, from 2005,  attempts to catalog those communities here. (pdf)

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Posted on May 27, 2008

For all of the opportunity provided by the low cost of buying a manufactured homes, other systemic issues foil the sector.  The lack of a fully functioning secondary market has been one of those issues.

Fannie Mae announced this weekend that they will participate in a pilot program in New Hampshire to buy loans at Lilac Drive Cooperative.  Two local banks, St. Mary's Bank and Merrimack County Savings Bank, are working to originate the loans.  They will be standard 30 year fixed rate loans.  Right now, it looks like some of the mortgages will bear interest rates at or near 6 percent.  That is a substantial difference from the 9 or 10 percent that homes in the cooperative were getting elsewhere.

Lilac Drive, located in Raymond, New Hampshire, is a cooperative park owned by its residents.  It was developed under the system set in place by the New Hampshire Community Loan Fund.  A double wide in Lilac Drive Cooperative is currently listed for $117,500.

For years, some personal property loans on manufactured housing have been sold on the secondary

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Posted on May 23, 2008

Recent quarterly reports show that the financial performance among the producers of manufactured housing are behaving differently than site built home builders.  Cavalier and Cavco have both released their 8-Ks in the last month.

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Posted on May 22, 2008

Opponents of Proposition 98 -- the ballot initiative up in California on June 3rd that would restrain the use of eminent domain and eliminate rent control, simultaneously -- have found another reason to be against the proposal.

A group led by the Association of California Water Agencies are pushing back against 98.  These groups believe that eminent domain might be a necessary tool to help communities satisfy their needs for water in the near future.

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This story was published in Salon Magazine on January 27th, 2014. In March, Senator Richard Durbin cited this story when speaking on behalf of his bill, The Student Loan Borrowers Bill of Rights.

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