With the economy in flux and stock pricesdown across the board, the U.S. commercial real estate property outlook lookspretty grim, Green Street Advisorssaid in a webinar Tuesday.

Businesses have shut down, some restaurants are going to limited operations and many employees are working from home.REITshareholders are taking notice.

In the three weeks ending Monday, the S&P was down nearly 30% and REITs were down 35%, Green Street Advisors Managing Director of Strategic Research Peter Rothemundsaid during a conference call.

On Tuesday, the S&P and REITs were up slightly, but the wild market fluctuations in the past couple of weeksare atelltale sign of things to come, Rothemund said.

"The market is pretty freaked out about the spread of the coronavirus here in the U.S.," Rothemund said. "And it tells you that we are in a recession right now."

Fears about a recession, defined as two consecutive quarters of falling GDP, come as coronavirus, which causes COVID-19, continues to spread globally.

As of 8 p.m. EST Tuesday, there are more than 195,000 reported cases worldwide with 5,700 in the U.S., according to Johns Hopkins. In the U.S., there have beenmore than 100 deaths across 17 states and the numbers keep going up,Johns Hopkins reported.

In an effort to stop the spread of the virus, several states and cities have declared a state of emergency, asked businesses to close or limit service, and have halted people from gathering in large numbers.

In San Francisco, officials have ordered 7 millionresidents to shelter in place. In New York and Los Angeles, bars, restaurants, theaters and even major theme parks have been asked to close, which many have done willingly.Major sports leagues, which draw thousands of spectators on any given night, such as theNational Basketball Association, Major League Soccer, Major League Baseball and the National Football League, have suspended some of their season's operations.

The closures and limited operating hours havealso stoppedtourism and economic activity. Gaming is down and some hotels, especially in Las Vegas, have been forced to close.

On Monday, economists from the UCLA Anderson School of Management reported that the U.S. economy has entered a recession, ending the expansion that began in mid-2009.

Courtesy of Green Street Advisors

A slide showing REIT performance from February 2020 to March 2020 by Green Street Commercial Property Outlook 2020

UCLA economists forecastGDP growth in the first quarter of just 0.4%. GDP for the second quarter of the year is now forecast todecline by 6.5%, and by 1.9% for the third quarter.

"With the assumption of an end to the pandemic and repaired supply chains by this summer, the forecast predicts the resumption of normal activity in the fourth quarter of 2020 and a GDP growth rate of 4.0%," UCLA officials said in their report.

Rothemundlikened the NBA suspension of its season last week to D-Day and Armageddon.

"That was the bottom," Rothemund said. "Now, everything is shutting down. And when things shut down, economic activity is not coming to a complete halt, but in Q2 we're going to have a nasty negative GDP number. Q2 is probably going to be the bottom."

Analyzing the public market, Rothemund said he's surprised by the underperformance of REITs during this time. Since REIT earnings from rent and profits are not as sensitive during a downturn as the S&P 500, it usually performs better, Rothemund said.

But the past three weeks or so, as the coronavirus spread, REITs have performed worse than the S&P. Rothemund couldn't really explain why, but correlates the performance of REITs and the drop in share prices as an indication of lower commercial real estate property values, which aredown 25% from at least three weeks ago.

REITs focused on gaming, lodging and healthcare are down 35% during the same time period. Student housing, which some had considered recession-proof, is down 30%. Office, apartments, malls and industrial REITs are down 20%.

Things can change very quickly, he said, because the marketis fickle.

"Some of these moves make sense and some of these moves are overdone," he said. "It's like the market is on a death scare ... In times of stress like this, there's a lot of distressed selling going on. You need to use some of these signals with a grain of salt."

One thing that is clear isa continued slide in private market real estate values. Rothemund said he sees market values going down by as much as 5% to 10% six months from now.

"The decline will vary a lot by property type," he said. "It's possible industrial values don't go down. [Manufactured homes] are probably not going to go down. Storage might not go down. But a lot of other property types are going down and going down significantly."

The rest is here:
Green Street: 'We Are In A Recession Right Now' - Bisnow

Some call them small homes, while others prefer tiny homes or tiny houses.

Whatever the terminology which, like the homes themselves, is evolving more and more people are getting their heads around the idea of creating living spaces that depart significantly from the consumption-oriented large-footprint model that has been considered the norm in recent decades.

With thousands worldwide building and living in their own tiny homes often off the grid, and usually off the radar of local authorities the idea has transcended what some critics decried as a fad to become an international movement with both economic and ecological advantages.

At the same time, there are roadblocks to full acceptance of tiny homes including a lack of formal recognition by governments on a local, national and regional level that have made most tiny home dwellers virtually rebels by default.

But online videos, like those produced and hosted by New Zealands Bryce Langston (whose Living Big In A Tiny House has become a highly popular YouTube channel) have provided examples of enterprising tiny home-owners and DIY builders around the world, helping to accelerate interest at an exponential gallop.

On B.C.s Lower Mainland, the highly successful Westcoast Small Home Expo, currently scheduled to return for a second year at the Abbotsford Tradex on the weekend of June 6-7 again with Langston as one of the headline guest speakers provides ample evidence of that interest on a local level.

READ ALSO: Home Buying 101 Forum cancelled due to COVID-19

Tiny home experts and professional builders provide one of the most attention-getting components of the show including a construction zone feature, where a live-build of a tiny home will take place through both days of the expo.

Exhibitors can also give attendees a good idea of whats available in the way of fittings, appliances and accessories, kitchen, bathroom and storage ideas, and many others products and services geared to a pared-down lifestyle (for tickets and more information, visit smallhomeexpo.ca).

A tiny home is generally defined as a residence of no more than 400 square feet, usually built on a flat-bed base for relatively easy transportation when towed by a truck, with a maximum width of eight-feet six-inches (anything wider makes special moving permits mandatory).

Lower areas of the typical tiny home strike a balance between kitchen, living room and bathroom areas, while beds are usually located in low-ceiling lofts accessed by ladders or stairways.

Working within such limits, owners and manufacturers around the world are daily probing the outer limits of ingenuity in finding solutions for creating a sense of openness in spite of long and narrow envelopes, as well as maximizing storage, bathroom and utility space.

Depending on the site chosen, theres potential for a tiny home to hook up to existing electrical and sewer/septic services, or, with the use of solar panels, propane-powered appliances and composting toilets, living off the grid entirely, with a minimal ecological footprint.

But its not just a matter of ecology. Reducing the footprint has become increasingly attractive as people ponder the very real 21st century challenges of owning their own homes, particularly in inflated markets where even exceedingly average houses have become million-dollar properties.

Langston who compares Auckland, New Zealands tough housing market with Vancouvers said following last years expo that it was a very real issue for him, as a young actor who had gone back to auditioning for roles after his character was written out of a major television series.

I began to realize that a tiny home was one of the only chances a young person like me would have to own their own home, he said.

READ ALSO: The priciest home for sale in Canada: A $38M Vancouver penthouse

Its clear that many others feel the same way. The Living Big In A Tiny House channel has 2.9 million subscriptions, with untold further millions of unsubscribed viewers while for Langston and his partner Rasa, shooting and editing segments around the world has turned into a full-time occupation.

Australian-born Ben Garratt of B.C.-based Healthy Homes an expert builder and teacher of low-impact tiny homes and a senior advisor for the expo agrees that economic factors are fueling the current wave of interest in this style of housing.

The main driving force is affordability, he said. I think the idea of this being a fad or a trend is long past. Maybe it was at the start, a little, but now affordability is the big thing, and thats not a trend thats reality for a lot of people.

While Garratt says that interest in tiny homes seems to cross all age demographics, he calculates that some 70 per cent of the people investigating the concept are women and many of those are approaching their retirement years.

They dont just want somewhere to live theyre interested in creating a home, he said.

On the Healthy Homes website Garratt whose company provides assistance and advice for would-be tiny home owners and builders from providing plans, through courses and building workshops to the finished product lists a rough rule-of-thumb cost for a tiny home built to professional standards of $60,000.

Prices can vary widely, however, with high-end manufactured homes coming in at considerably higher than that, while DIY enthusiasts have built for as little as $10,000 to $30,000 through enterprising sourcing of materials.

Langley resident Anette Atsma who coincidentally fits Garratts profile of the tiny home-curious did just that when she designed and built her own home in the Chilliwack area in 2016, with the help of a friend with building expertise who was also intrigued about the process.

The 240-sq. ft. home which included two lofts was built on an 18-foot commercially-rated flatbed trailer base.

We built it from scratch and it cost me a total of $17,000, of which $4,000 was for the trailer base, she said.

There was less than $1,000 in used materials and the rest was all brand-new material.

But Atsma, who has a working background in the RV industry and subcontracting out her own home renovation in the 1980s, said she benefited not only from that experience, but also by making friends with staff at a local Rona, who were able to advise her in choosing strong but flexible light-weight products and point her toward bonafide deals on materials.

I bought the trailer on June 1, we prepped it and had it all ready for construction by July 1 and even with only working on it on weekends, it was ready for me to move in by Nov. 1, she said.

Lightness and durability of construction was a must for Atsma, who said her natural wanderlust inspired a home plan intended for frequent moves from community to community.

You have to stay under 10,000 lbs. so that it is able to be pulled by a regular truck, she said.

While Atsma remains enthusiastic about the tiny home concept, shes less enthused by the haphazard building techniques and highly individual, but less than pragmatic, materials that she sees in a lot of current projects.

I look at some of these units and I cringe, she said. If you plan on travelling anywhere with it, you dont use drywall, you dont use tile you dont use anything that will crack or break. You hit a pothole and you know whats going to happen.

Garratt whose long-time career emphasis on safety and healthy building techniques stems from early experiences with toxic products in the mainstream construction industry that compromised his health also suggests that investing in some professional advice can help the unskilled and unwary DIY builder avoid costly-to-rectify mistakes.

These can range from dangerous construction flaws and wiring errors to serious condensation and mould issues as a result of choosing the wrong kinds of materials and not providing adequate ventilation to the structure, he said.

Even if one is not yet ready to take the plunge into a tiny home, Peggy Richardson, marketing manager for the upcoming expo, said it aims to provide a wide range of ideas for those interested in occupying a smaller footprint.

Were all about small homes of all types: condominiums, townhouses, laneway homes, tiny houses, Granny suites, and those downsizing from larger homes, she said.

Richardson noted that tiny home designs have also become far more individual over the last few years even though a typical long box/one-way tilted roof look has tended to dominate.

(The tiny home) used to be seen as very homogenized, she said. But its become very regionalized, depending on where you are in the world, incorporating traditional ideas and materials. Europe is putting a different spin on it than Asia, and Canada is putting a different spin on what the U.S. is doing.

Part of the appeal of a tiny home is that provides an opportunity to assert individuality and have a space which, while small, is truly reflective of the owners personality.

At the same time, it must be noted, most tiny homes currently occupy a grey legal area local governments have generally not kept pace with the trend or been able to modify zoning regulations to allow the homes legally-recognized sites.

And financing, while available in Canada, tends to hinge on the tiny homes being built on a flat-bed trailer base and CSA certified as an RV which, officially at least, precludes them being lived in year-round.

Garratt said he believes the majority of tiny homes in B.C. are technically sited outside the law not unlike the situation with illegal suites.

(Enforcement) is a complaint-driven process if you are on a property thats a little out of the way, and you get on well with the neighbours, you dont have a problem.

In the worst-case scenario, a municipality can demand a non-conforming tiny home either be removed or demolished, which is why its desirable to build on a wheeled base to protect your investment, Garratt said.

I think with tiny homes, were in the same place that lane-way homes were in in the early 2000s, when a lot of people had built out their garages as extra units. There had to be a lot of advocacy done for them to be permitted in Vancouver. Tiny houses are in the same early stages and there are a few different groups working on advocacy including the BC Tiny House Coalition.

But Garratt said the key for advocates is not demanding changes on a municipality or regional level, but lobbying for tiny homes to receive a new CSA certified RV category one that recognizes them as suitable for habitation year-round which would give municipalities flexibility to allow them in already RV-approved zones.

There are some indications on the local front that tiny homes could be accommodated.

White Rock housing advisory committee chair Coun. Anthony Manning said the committee would be prepared to look into tiny homes as one potential strategy for providing affordable housing.

City of Surrey general manager of planning and development Jean Lamontagne said its technically possible for someone to buy a property in the city and apply for a permit to build a tiny home. It just hasnt happened to this point, he said, since most property owners are focused on building a home near or to the maximum allowed by the zoning bylaw.

A tiny home on wheels would fall within the mobile homes category and Surrey has properties where the zoning allows for mobile homes, he added.

Garratt and Atsma agree that there are some lingering prejudices when it comes to tiny homes partly based in resistance to change, but also in fears that allowing them might result in a proliferation of casually-constructed eyesores and shantytowns.

Atsma ended up selling her tiny home for $35,000 more than doubling her money, it should be noted because she could not find enough RV parks in B.C. that were willing to set a precedent by accommodating it, even for an overnight stay.

I loved it and I would live in another one again if people wouldnt be so pig-headedly obstinate, she said. But very few parks will take them because they dont look like other RVs.

The people I sold my home to happen to be sitting on an acreage overlooking a lake near Kamloops, which is a perfect spot for it theyre in a non-conforming area where they dont have to worry about rules and regulations.

But Garratt said he remains optimistic that tiny homes will soon have the seal of legitimacy as a viable affordable housing option.

Were poised and waiting for the cities and municipalities to catch up, Garratt said. It will happen its just a matter of time.

One of the great things about the tiny house movement is that most of the kinks about building them have already been ironed out, he said.

Its always going to be trending up, he added.

Its plateau-ing a little at the moment because of a lot of these legislative and regulatory issues, but as soon as those are sorted out its going to spike. If this is the most affordable way for people to get into a house, then thats what people are going to do.

alex.browne@peacearchnews.comLike us on Facebook and follow us on Twitter

Housing

Langley resident Anette Atsma scratch built this 240-sq. ft. tiny home in Chilliwack in 2016 for a total of $17,000. Anette Atsma photo.

Read more here:
Big future in tiny homes, says New Zealand expert - Surrey Now-Leader

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Global Manufactured Housing Market : Full In-depth Analysis by Top Key Players, Regional Outlook, Latest Trend and Forecast to 2024 - Nyse Nasdaq Live

LAND O LAKES The empty land, fronting U.S. 41 and stretching westward toward Lake Thomas, is shared by small herd of cattle and a handful of egrets.

But its the potential for new occupants that has residents in the neighboring rural enclave objecting.

Youre about to kill a golden goose, said Joe Seidle who lives on Lake Thomas Road.

The golden goose, he says, is the natural beauty of Land O Lakes shorelines and old Florida neighborhoods that differentiate it from the cookie-cutter subdivisions that sit atop former ranch land elsewhere in fast-growing central Pasco.

The vacant land, nearly 42 acres, is positioned to become the site of more than 200 town homes vying for a view of Lake Thomas, the 164-acre centerpiece of serenity in the residential area that shares its name.

Current residents said they understand that development will happen. The countys long-range land-use plan designates much of the vacant property as suitable for three single-family homes per acre., known in government vernacular as Res-3. The front parcel, along U.S. 41, can be used for a combination of offices and higher-density housing of 24 units per acre.

What residents dont understand is why the future density for some of that land should double, as developer Tony Tanico of Eastern Meridian Property Group requested. If approved, the new zoning will allow up to six homes per acre and accommodate Tanicos plan to put 218 town homes there.

The new development would sit amid a mix of modest mid-century, cinder-block houses, manufactured homes and custom-built executive estates the owners of which use narrow roads minus shoulders and space for two cars to pass side-by-side to get to U.S. 41.

Neighbors wrote emails to Pasco County, used social media, appeared before the advisory Pasco Planning Commission and last week made their concerns known to elected county commissioners.

The proposed development, they said, could cause safety hazards on U.S. 41 because town home residents will need to drive south to Ehren Cutoff and then make a u-turn to head north to reach the nearest grocery, and the elementary and high school that will serve the community. They also fear more flooding in an area susceptible to high water.

"Theres no way. I mean, were going to flood again,'' said Linda Amason, 63, standing outside her home at 6005 Thomas Circle.

She and her husband, Mike, 69, have lived there 33 years. Their property has flooded four times in 10 years, requiring them to gut the house, install new flooring and sheet rock and put in a new septic system.

"If we flood again, were pulling back and moving on,'' she said.

Tanicos attorney, Barbara Wilhite, said the development team revised the initial plans to accommodate neighbors concerns. Access to the town homes will be from multi-lane U.S. 41, not narrow Little Lake Thomas Road. There will be a right-hand turn lane built on U.S. 41 to enter the project. There will be a pedestrian boardwalk, but no dock for motorized boat launches on Lake Thomas.

The state will review the drainage plans to ensure the project does not increase storm water discharge, cause flooding or damage water quality, said Joe Cimino of the civil engineering firm WRA. The plan is to retain water on the property rather than allow it to drain toward Little Lake Thomas Road and Thomas Circle, as it does now.

"It doesnt make any sense to continue discharging where there are flooding problems along those roads,'' Cimino told county commissioners.

Those accommodations, however, didnt answer the question of why 218 town homes should be built on land designated for 100 single-family homes. Seidle called it a dangerous precedent that will open similar vacant land to double its housing capacity.

"Whats the use of having a land plan if they wont follow it?'' Seidle asked in an interview.

The county called the proposed designation a "transitional land use and will be a means to gradually step-down in density and in lot size'' from a maximum of 24 units per acre that is available elsewhere in the vicinity.

Wilhite pointed out that higher-density housing in that location was encouraged in the 2008 Urban Land Institute report that Pasco County followed to establish higher-density urban service areas in the western and south-central portions of the county.

"This project is exactly what you said you wanted when you adopted that plan,'' she said.

"Its not ideal for best planning,'' Commissioner Jack Mariano acknowledged about the proposed in-fill development.

But both he and Commissioner Kathryn Starkey said they were satisfied with the developers attempts to try to accommodate neighbors concerns.

The commission voted 4-0, with Commissioner Mike Moore absent, to send the proposed land-use change to the state Department of Economic Opportunity for review. Final consideration by the commission is scheduled for April 7.

More here:
Residents fear Lake Thomas townhouses will drown their quality of life - Tampa Bay Times

Last year they were touted as property rights bills. This year, theyre being promoted as affordable housing bills. In fact, they are neither.

They are House Bill 302 (HB302) and its counterpart, Senate Bill 172 (SB172); if enacted by the legislature, they will, prohibit local governments from adopting or enforcing ordinances or regulations relating to or regulating building design elements as applied to one or two-family dwellings;

HB302/SB172 were introduced at last years legislative session but did not come up for a vote. Consequently, bill sponsors have raised their ugly heads for the 2020 legislative session. And since last years property rights ploy didnt play well, proponents are now singing the affordable housing melody.

The simple fact that sponsors have changed the reason this legislation is needed is ample evidence that they are using bait and switch tactics to benefit homebuilders, not homeowners. Further, the fact that a house is built with cheap materials is no guarantee that it will any more affordable than a house built with quality materials that meet a communitys design standards.

Specifically, HB302 prevents cities and counties from regulating:

Exterior building color

Type or style of exterior cladding material

Style or materials of roof structures or porches

Exterior nonstructural architectural ornamentation

Location or architectural styling of windows and doors, including garage doors

The number and types of rooms

The interior layout of rooms

Types of foundation structures approved under state minimum standard codes.

Exceptions are granted for historic structures, manufactured homes, overlay districts, or if an ordinance is adopted as a condition of participation in the National Flood Insurance Program.

HB302 requires home construction to meet state standard code minimums, thereby recognizing the importance of design standards. However, it specifically prohibits local governments from regulating or enforcing those standards, unless local regulation is a requirement (of a state minimum standard). But for the most part, enforcement, if there is any, will have to be done by state agencies. Yet the relevant state agencies have neither the budget, the personnel nor the desire to be the enforcement arm of 159 counties and 538 incorporated cities. With no enforcement strategy, there is no mechanism to assure that one-family and two-family buildings are safe, durable and inhabitable.

Admittedly, the design standards imposed by some cities and counties are an overreach and an assault on individual property rights. However, the proper way to address overreach is to restrict it. Instead, HB302 attempts to control overreach in one direction by overreaching in another. That overreach could well result in the construction of houses that look like small warehouses; with no design standards for roofs, type or style of exterior cladding or location and styling of windows, residences with flat roofs, concrete walls and no windows could be built- to the detriment of the home values of adjacent property owners.

As for the affordable housing ploy, affordable is a target thats blowing in the wind. Definitions range from Section 8 housing that is subsidized by the federal government, to housing that is priced such that payments are affordable by families earning less than the Area Median Income. It comes as no surprise that proponents of HB302 are at best vague about their definition of affordable.

Thats most likely because their true concern is not affordability. Its profitability.

See the original post here:
Legislative Bait and Switch - HB302 - Gwinnett Citizen

Its Severe Weather Awareness Week and an important part of severe weather preparedness is knowing your safe place during severe weather. If you live in a mobile home, you are more vulnerable. According to the National Weather Service Birmingham office, because of the more dispersed nature of manufactured housing across the state, mobile homes are four times more likely to be struck by a tornado in Alabama than in Kansas.

In 2019, there were 25 tornado fatalities in Alabama, 23 of these fatalities were during the Lee County EF4 tornado on March 3, 2019. Out of the 23 fatalities, 19 of them were in manufactured housing. According to the Auburn-led Structural Extreme Event Reconnaissance Network, all of the mobile homes lacked ground anchors, had degraded anchors, or had anchor systems not up to state code.

According to NWS Birmingham, a mobile home is completely destroyed with winds around 45 percent of winds expected to destroy a permanent home. This is why we stress the importance of NOT STAYING in manufactured housing during the threat of severe weather.

Where do you go? Go to a neighbor or familys permanent home. Or, go to a local storm shelter. Contact your countys EMA office if you are not sure where the nearest storm shelter is located.

While leaving is your best option, to protect your mobile home, making sure you have adequate anchorage is imperative. Here are some important tips to consider:

Go here to read the rest:
Severe Weather Awareness Week: What to do if you live in manufactured housing - WIAT - CBS42.com

MONROE, La. (KNOE) - Louisiana Severe Weather Awareness Week kicked off on Sunday.

The National Weather Service calls attention to the high impact weather conditions throughout the state. Tornadoes, flash flooding, and dangerous winds are all conditions that affect people living in the Arklamiss region. Spring and fall are both considered to be severe weather seasons.

The National Weather Service advises people to come up with a plan now, prior to when severe weather conditions arrive. The first step is to find a safety shelter.

In a single-family home, its gonna be the lowest floor, interior room, with as many walls between the outside and you as possible, said National Weather Service meteorologist Charlie Woodrum.

If you live in a mobile or manufactured home, be prepared to evacuate if necessary.

Know where you want to evacuate to. Identify where that concrete reinforced structure is that you can go as a safe place. It might be a church, it might be a big community building. It might be a friends home, said Woodrum.

They say mobile homes are especially prone to storm damage.

Woodrum said, In this area of the country, particularly mobile and manufactured homes are really at risk when storms threaten. It only takes an EF1 tornado which is winds of up to about 110 miles per hour to completely pick up a single wide mobile home, throw it 100 yards, drop it, and destroy it completely.

There are many ways to keep yourself in the know. One of the most simple ways is right at your fingertips.

On your cellphones, we have a program called wireless emergency alerts that go right to your cellphone, and for all tornado warnings, youre gonna get that on your cellphone, also for most flash flood warnings well do that as well, said Woodrum.

The National Weather Service advises people to keep the severe weather notifications turned on in their mobile settings. Stay tuned to KNOE-TV, and knoe.com for the latest weather updates. Also, download the KNOE weather app.

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Louisiana Severe Weather Awareness Week brings attention to the need for an emergency plan - Knoe.com

Universal Forest Products, Inc. (UFPI), a Basic Materials Lumber & Wood Production corporation, saw its stock trade 56.99 shares, a spike against to its 10-day trading volume of 451.71k.Universal Forest Products, Inc. (UFPI) stock is trading at $56.99, up 6.88 cents or +13.73% on the day. Based on this we can see some traders are either waiting on the sidelines to get involved or perhaps some are taking profits.Total Revenue for Universal Forest Products, Inc. (UFPI) is $4.41B. Gross Profit is $592.89M and the EBITDA is $305.81M.

The average 10-day trading volume of Universal Forest Products, Inc. (UFPI) is 451.71k compared to 352.78k over the last 3 months which indicates a spike in trading activity. Right now, Universal Forest Products, Inc. (UFPI) has a 50-day moving average of $49.04 and a 200-day moving average of $45.40. These moving averages are popular technical indicators that investors use to analyze price trends of Universal Forest Products, Inc. (UFPI).Approximately 1.65% of the shares of the company are sold short from traders betting the shares might trade lower. The beta value of Universal Forest Products, Inc. (UFPI) stock is 1.86, indicating its 7.04% to 3.32% more volatile than the overall marketplace.Technically, UFPIs short term support levels are around $51.75, $51.75 and $51.75 on the downside. Based on technical analysis, UFPI has short term rating of Bullish (0.26), Intermediate rating of Neutral (0.21) and the long-term rating of Bullish (0.42) giving it an overall rating of Bullish (0.29).UFPI is trading 96.52% off its 52 week low at $29.00 and -1.08% off its 52 week high of $57.61. Performance wise, UFPI stock has recently shown investors 13.93% a spike in a week, 18.68% a spike in a month and 14.25% a spike in the past quarter. Furthermore, Universal Forest Products, Inc. (UFPI) has shown a return of 19.48% since the 1st of this year.

Universal Forest Products, Inc. (UFPI) is a mid cap company with a market cap value of $3.481B. UFPI insiders hold roughly 2.78% of the shares.On Aug-03-18 Seaport Global Securities Initiated UFPI as Buy at $47. On Feb-13-20 Wedbush Initiated UFPI as Neutral and on Feb-14-20 Wedbush Initiated UFPI as Neutral. There are currently 59.68M shares in the float and 63.39M shares outstanding. There are 1.65% shares short in UFPIs float.The industry rank for Universal Forest Products, Inc. (UFPI) is 149 out of 255 ranking it at the Bottom 42% .

UFPI last 2 years revenues have decreased from $4,489,180 to $4,406,150 showing a downtrend. Wall Street expects Universal Forest Products, Inc. (UFPI) to report an EPS next Qtr profit of 0.59 and a profit of 8.97% next year.The growth rate on UFPI this year is 10.31 compared to an industry 13.00. UFPIs next years growth rate is -3.43 compared to an industry 6.50. The book value per share (mrq) is 20.20 and cash per share (mrq) is 1.29. Giving them a price/book (mrq) of 2.78 compared to an industry of 2.52 and UFPIs price/cash flow (mrfy) is 14.19 compared to an industry of 17.13. UFPI fundamental ratios shows an EPS growth vs. previous year 3.21 and EPS growth vs. previous quarter 0.54.

Headquartered in Grand Rapids, MI, UFP Industries, Inc. is a holding company with its subsidiaries throughout North America, Europe, Asia, and Australia. The company supplies wood, wood composite and other products in retail, industrial, and construction market.The company classifies its top-line results based on its end markets. A brief snapshot of the end market sales has been provided below:UFP Retail (accounting for 36.9% of third-quarter 2019 gross sales) includes Do-It-Yourself retailers, and distributors, pro-dealers and other retail customers.UFP Industrial (28.1%) consists of packaging, crating and other products for manufacturers.UFP Construction (35%) comprises Residential Construction, Commercial Construction and Concrete Forming and Manufactured Housing sales.Residential Construction includes builders of single and multifamily homes.Commercial Construction and Concrete Forming includes non-residential construction and concrete forming.Manufactured Housing includes manufactured housing and recreational vehicles business.

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Will Universal Forest Products, Inc. (UFPI) Beat Its Last Earnings Report? - Stock Watch 247

Zachary Oren Smith, Press Citizen Published 3:39 p.m. CT Feb. 13, 2020

State Sen. Zach Wahls, D-Coralville, knocked on doors at West Branch Mobile Village to see if there was appetite to organize among mobile homes tenants in his district, on Friday, April 19, 2019.(Photo: Zachary Oren Smith)

In 2019, Havenpark Capital, a Utah-based private equity firm, bought up manufactured housing parks in Johnson County and across the state. Residents of those parks quickly were hit with sharp rent increases, someas high as 58% in North Liberty's GolfviewMobile Home Park.

It became clear to residents and their advocates that protections afforded to apartment renters and other consumerswere not extended to mobile home residents who might own their home but rent the parcel it sits on.

On Wednesday, a bipartisan group of 15 Republican and 15 Democratic senators introduced S.F. 2238, a bill that aims to expand those protections for mobile home residents.

More: Taskforce releases recommendations for manufactured homes

State Sen. Zach Wahls, D-Coralville, knocked on doors at West Branch Mobile Village to see if there was appetite to organize among mobile homes tenants in his district, on Friday, April 19, 2019.(Photo: Zachary Oren Smith)

Sen. Carrie Koelker, R-Dyersville, introduced the bill in the Iowa Senate. She could not be reached by press time.

In the waning days of the last session, Sen. Zach Wahls, D-Coralville, attempted to pass legislation with similar aims but it was unable to clear both chambers.

"I think the big difference is the amount of education that went on in the interim. For seven months now, we've been engaged in writing legislation with members of both parties and both chambers," Wahls said. Both Iowa Legal Aid, who represents some Golfview residents, and the Attorney General's Office have weighed in on the crafting of the bill. "And we've been keeping the Governor's Office in the loop."

While he said the bill does not do all the actions he set out for, he said it takes two important steps. First, it aims to protect property and due process rights for people who own manufactured homes. Second, it provides legal protections that are at least as strong as people living in apartments."

The bill as introduced would do the following:

Candi Evans, the co-chair of the Golfview Residents Association, said that while the bill doesn't accomplish all she would like to see, she was heartened by the bipartisan support on the bill.

"Not all of it came through that we wanted, but this important. It has real impacton our families who are in need," Evans said.

Next week, she said mobile home park residents will head to the Capitol to share their stories. She said that Republican and Democrat lawmakers alike have been willing to listen before. She said she is hopeful to continue those conversations next week.

Republican Senators signed on:

Democratic Senators signed on:

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Zachary Oren Smith writes about government, growth and developmentfor the Press-Citizen. Reach himat zsmith@press-citizen.com or 319 -339-7354, and follow himon Twitter via @zacharyos.

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Bipartisan bill introduced to add protections for manufactured home residents - Iowa City Press-Citizen

Make sure youre aware of these expert-approved tips before buying your first home. USA TODAY

After a decade of litigation, more than 1,800Florida homeowners who bought homes made unlivable by drywall manufactured in China will be sharing in a $248 million settlement.

Defective drywall that caused damage to property and health concerns hit people in 44 states, estimated at as many as 20,000 homes. Florida had the most. The drywall materials reacted to produce fumes that corroded fixtures. The gas smelled of sulfur and raised health concerns.

The settlement approved by a federal judge in New Orleans last month resolves two suits and potentially more than 3,000 claims filed against Taishan Gypsum Ltd., the China-owned company that sold much ofthe defective drywall in the United States, beginning in 2009.

The Biltz family, Shane, Darlene and their son Vincent, 1, pose for a portrait at their home, Friday, Feb. 7, 2020, in Golden Gate Estates. The couple had to delay starting a family because of health issues caused by exposure to fumes created by drywall made in China that was used to build their home.(Photo: Jon Austria/Naples Daily News USA TODAY NETWORK - FLORIDA)

Victims includeShane and Darlene Biltzof Collier County, who thought they had found the perfect home to raise a family,a 3,300-square-foot residence in Golden Gate Estates.

Darlene Biltz said the discovery was heart-breaking.

"When we bought the house, we bought it as a forever home, we wanted to raise our children in that home, we wanted to have our animals in that home, we wanted to bring our family together in that home," she said."I mean its a beautiful home but its not one that we could have been in forever because of health issues."

More: How to file a claim to be part of the $248 million Chinese drywall settlement

Drywall installation became big business in Florida between 2004 and 2006. Abuilding boomspiked demand for drywall.Then, extensive repair and replacement damage tobuildings in Gulf Coast states inflicted by hurricanes Rita and Katrina in 2005 added to the pressure on supplies.

With domestic inventory tight, builders and suppliers turned to China. Slowly, tales began to emerge of an odor of sulphur in the homes and unexplainable corrosion to fixtures.

The Biltz family home is pictured, Friday, Feb. 7, 2020, in Golden Gate Estates. The home was built using Chinese dry wall.(Photo: Jon Austria/Naples Daily News USA TODAY NETWORK - FLORIDA)

The gas began to cause damage to the homes and raise fears that the contaminated air was a threatto the health of residents.

Government scientists blamed the drywallfor damaging buildings and causing health problems after its internal parts reacted and produced dangerous gasses.

As the housing boom was replaced by the Great Recession, homes that had lost much of their value were abandoned. Crashing property values made walking away the choice for many.

Previous coverage in The News-Press

More than individual homeowners were affected.

Lennar Corp., a major homebuilder in the state, said in a government filing that it had found the faulty drywall in hundreds of homes that it had builtand put $40 million aside to fix it, while pursuing legal action against subcontractors who used the drywall.

WCI Communities Inc. of Bonita Springs, a prodigious builder of luxury homes in Southwest Florida,filed for bankruptcy in 2008 as claims against it mounted. The company cited the bottom falling out of the housing market in Lee County.WCI eventually discharged billions of dollars in debt, as well as its obligation for at least 100 homes with the drywall problem in a bankruptcy reorganization. Secured creditors took control of the company and sold it toLennar for more than $640 million.

Worker removes China-manufactured drywall from a Southwest Florida home. The drywall is blamed for emitting hazardous fumes that made people sick and buildings uninhabitable. A federal lawsuit over the drywall has been settled.(Photo: News-Press file phoeo)

Edwardo and Carmen Amorin filed suit in U.S. District Court in Miami in July 2009.Stephen and Diane Brookefiled suit inVirginia in 2015. Both cases were against Taishan.

The cases were assigned to the federal court system's multi-district litigation docket, and were all overseen by a single judge in U.S. District Court in New Orleans.

The victims will be notified of their settlement amounts by a court-appointed expert who will use factors such asthe size of the property and which of multiple class action suits the individual property owners joined in determining what they will be paid.

Individuals who are covered in the Amorin suit may receive higher payouts because that suit was filed earlier. The judge's settlement decision said a lot more groundwork for the case was done in the class action led by the Amorins than the suit initiated by the Brookes

As the case churned through the preliminaries toward potential trial, scientific evidence of health and safety issues raised by the drywall mounted.

The Florida Department ofHealth had reported in 2009 that the fumes led to corrosion of evaporator coils in air conditioning units as well as corrosion of electrical connectors, copper wires and chrome-plated fixtures.

A 2014 reportfrom the federal Agency for Toxic Substances found health issues caused by exposure to sulfuric gasses andhydrogen sulfide released by drywall imported from China. The report suggests the emissions were highest in drywall manufactured between 2006-2009.

Exposure made some existing conditions worse, such as eye, ear, nose and throat problems. Some people who came in close contact withthe material sufferedrespiratory discomfort, and general malaise, the reportsaid.

As the drywall plague deepened, theU.S. Consumer Product Safety Commission called for replacement of problem drywall, and warned that the fumes couldeven damage smoke and carbon monoxide alarms, electrical switches and circuit breakers, even some types of fire protection sprinkler heads.

Drywall made in China and imported to Southwest Florida during the building boom of the early 2000s was blamed for medical issues. A federal lawsuit over the use of the drywall has been settled.(Photo: New-Press file photo)

Last month, U.S. District Judge Eldon Fallon approved the settlement for people who sued in the cases started by theAmorins and the Brookes. Litigants said the settlement avoids the risk of long and costly trials with an uncertain outcome.

Others think the lawyers could have done a lot better.

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Cape Coral resident Russell Moody, in an-email to The News-Press, was critical of the judge for approving thenegotiated settlement.

Moodyargues that in his case, it will pay only a fraction of the estimated $163,000 it would cost to remove the offending drywall and its effects from his home.He is among the people who sued that have not removed the drywall.

"It is a cleverly worded rationale, obfuscated in legalese and based on faulty and mischaracterized information, for approving a settlement that deprives over a hundred SW Florida residents of hundreds of thousands of settlement dollars that they are legally entitled to," Moody said.

Moody filed his objection to the settlement in November and claimed that the handling of the case was procedurally flawed and claimed that some representations by lawyers on the case were false.

Judge Fallonoverruled the objections of Moody and 26 others in finding that the settlement was "fair, reasonable and adequate."He ordered payment of nearly $50 million in attorneys' fees and costs from the settlement proceeds.

Attorney Pete Albanis, of Orlando-based Morgan & Morgan, said the ultimate decision to recommend settlement was based on weighing the risk and expense of further litigation against the chance of getting more money in a case that had been in court for more than a decade.

Even winning a judgment had no guarantee ofsuccess.

The Biltz family, Shane, Darlene and their son Vincent, 1, pose for a portrait at their home, Friday, Feb. 7, 2020, in Golden Gate Estates.(Photo: Jon Austria/Naples Daily News USA TODAY NETWORK - FLORIDA)

If we were to continue the case, meaning there would be no settlement and peoples cases would proceed to trial, there would be some serious concerns and potential problems that homeowners would face with respect to collecting in China, Albanis said. This is one of the most difficult class actions that has been ever been pursued.

Ultimately, the victims of the Chinese drywall will be paid pennies on the dollar for the damage to their homes and possibly to their health. The emotional strain of a decade lost will not be compensated.

The Biltzesdecision to move out was based on the expense of fixing their home. Instead, they disclosed the issues with the house and found a tenant who would rent it.

The couple'splans to start a family had to beput on hold, on the advice of Darlene's doctor, because of the uncertain effect drywall fumes might have on an unborn child.

"They said no, you may want to give yourself time to have your body detox, they didnt know what kindof effects it might have on a baby," she said. "We finally have a one-year-old son,he is healthy and happy."

A federal judge has issued a final order in the$248 million drywall settlement thatincludes a master list of more than 3,000 drywall victims.

If you're not on the list, thejudge has set Wednesday as thedeadlineto file a claim to be eligible for any money. Visit chinesedrywallsettlement.com for more information.

The idea that youll save money buying a fixer-upper doesnt always hold true. Buzz60s Sean Dowling has more. Buzz60

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Defective drywall lawsuit reaches settlement, a decade after Chinese product forced many from their homes - News-Press