Today’s Manufactured Housing News
IBS – a.k.a. Innovative Building Systems – acquires Future Home Technology, Inc – Canadian housing prices and debt causes Moody’s investor services to issue warning about the cost of rising housing prices when combined with consumer debt – and the New York Times concur that the Consumer Financial Protection Bureau’s recent report was correct – manufactured homes are crucial to affordable housing. It’s Wednesday, October 22 … and it’s time to roll with today’s manufactured housing news.
Some smell future profits in the fast-growing prefabricated home sector: Custom manufactured home builders, like Innovative Building Systems (IBS), are rapidly consolidating their earning power by purchasing companies like Future Home Technology, Inc. based out of Port Jervis, New York. Currently the company, Innovative Building Systems, produces their manufactured homes from five centrally located facilities throughout the US. Stretching from the East Coast to the Midwest, IBS currently builds manufactured homes under a few different brand names: All American Homes, Modukraf Homes and Keiser Homes, Excel Homes.
Canada’s housing concerns: While Moody’s Investor Services, a leading credit-rating agency, currently rates the Canadian economy as AAA debt risk, primarily thanks to its strong underpinnings within the financial sector and its robust regulatory framework; many are concerned over the rapidly increasing cost for single-family residential housing. Particularly when combined with the countries rapidly rising consumer debt. Currently Canada’s housing market has witnessed meteoric inflation, predominantly thanks to supply and demand issues within Canada’s bigger metropolitan areas. Scaring some analysts into surmising that as interest rates come up from their historic low point, Canada’s elevated home prices and household debt will put pressure on the Great White North’s economy.
The New York Times drills down on financing manufactured homes: In an October 16th article on “Financing Manufactured Homes,” the New York Times acknowledged that Manufactured Homes have become a integral part of America’s affordable housing for the majority of residents of northern New England. According to the Consumer Financial Protection Bureau’s (CFPB) report last month, a single-section manufactured home, can be purchased straight from the factory floor for as little as $43,000. Now that’s affordable housing.
For those inquiring minds looking to learn a little bit more about the fiscally responsible decision of purchasing a manufactured home … read on.