Triad Financial Services, a subsidiary of ECN Capital Corp., a leader in financing solutions to manufactured housing dealers across the U.S., has announced a letter of intent for $1.14 billion in financing from Blackstone’s Asset-Based Finance Group.
The capital will be used to originate high-grade consumer loans that will be serviced by Triad.
“Triad provides critical financing solutions that help prospective homeowners meet their family’s needs,” said Steve Hudson, CEO of ECN. “We look forward to continuing to innovate with our dealers and provide affordable housing to more Americans. We anticipate this new capital will accelerate growth.”
Rob Camacho is the senior managing director and co-head of ABF Group.
“We are pleased to expand our relationship with Triad, providing capital to help more families access affordable housing and an attractive opportunity for our investors,” Camacho said.
The Blackstone ABF capital will enable the origination of new, high-grade consumer loans and aligns with the company’s goals.
ECN Capital and Skyline Champion will form a captive finance company that will be 51 percent owned by Skyline Champion and 49 percent owned by Triad Financial. The captive finance company will provide a tailored retail finance loan program for customers and a new branded floorplan offering for Skyline Champion and its affiliates in the manufactured home finance space and will operate with services provided by Triad.
The captive finance company is expected to enable both companies to work more closely together to grow their respective businesses and create value for their stakeholders. Among other things, the captive finance company is expected to:
Drive greater demand for product by providing broader and more attractive financing options and services for Skyline Champion’s customers
Enhance Skyline Champion’s turn-key homebuying solutions while magnifying the benefits of their digital and direct-to-consumer strategic investments; and
Generate increased retail loan originations and floorplan balances, driving growth and scale efficiencies for Triad
“We are excited to announce this new strategic collaboration with one of our long-standing business partners,” Skyline Champion President and Chief Executive Officer Mark Yost said. “The partnership with Triad will help streamline the homebuying experience for our channel partners as well as the consumers of our homes.
“This will allow us to expand our ability to offer affordable housing solutions more efficiently while driving company-wide growth. The asset-light model of these financing solutions combined with the strength of our balance sheet allow us to partner with ECN Capital while continuing our investments in our longer-term commercial and operational initiatives. We are excited about the future and the benefits this investment will bring to both companies’ stakeholders.”
Anaheim Shores Estate, a Newport Pacific manufactured home community.
August 2023 JLT Reports for mobile home rent comps, occupancy, and other vital data from manufactured home communities in Southern California show moderate rental increases and steady occupancy rates across six counties.
JLT Market Reports provide detailed research and information on communities in 186 housing markets throughout the United States. These include the latest rent trends and statistics, marketing programs, and a variety of other useful management insights.
Datacomp’s August 2023 release of JLT Reports in Southern California includes information on Los Angeles, Orange, Riverside, San Bernardino, San Diego, and Ventura counties. Datacomp maintains and provides the JLT Market Reports and is the nation’s #1 provider of market data for the manufactured housing industry. JLT Market Reports are recognized as the industry standard for manufactured home community market analysis.
August 2023 manufactured housing market data published in JLT Market Reports for Southern California include information on 503 “All ages” and “55+” manufactured home communities.
Altogether, the reports from Southern California manufactured home communities include data representations for 101,863 homesites.
What’s in JLT Market Reports?
Each JLT manufactured home community rent and occupancy report from Datacomp has detailed information about investment-grade communities in the major markets. The detailed information includes:
Number of homesites
Occupancy rates
Average community rents, and increases
California rent control and next increase data
Community amenities
Vacant lots
Repossessed and inventory homes, and much more
JLT Market Reports also include management insights that rank communities by the number of homesites, occupancy rates, and highest to lowest rents. Established reports show trends in each market with a comparison of August 2023 rents and occupancy rates to August 2022, as well as a historical recap of rents and occupancy from 1996 to present date in most markets.
The August 2023 JLT Market Reports for Southern California manufactured home communities are available for purchase and immediate download online at the Datacomp JLT Market Report website, or they may be ordered by phone in electronic or printed editions at (800) 588-5426.
Each fully updated report for mobile home communities is a comprehensive look at investment-grade properties within a market, enabling owners and managers, lenders, appraisers, brokers, and other organizations to effectively benchmark those communities and make informed business decisions.
MHInsider Publisher Patrick Revere: Can I interview you about how your language model might be able to help organizations in the manufactured housing industry operate more efficiently?
ChatGPT: Of course! I’d be happy to discuss how a language model like mine could potentially help organizations in the manufactured housing industry operate more efficiently. Please go ahead and ask your questions, and I’ll provide you with relevant information and insights. If I work in an office and have a busy day interacting with residents and the general public, how might your capabilities assist in saving time and improving sales efforts? As a language model, I can offer several ways in which my capabilities can assist in saving time and improving sales efforts in the manufactured housing industry. Here are a few examples:
Customer Support: I can help automate and streamline customer support interactions. You can integrate my capabilities into your website or chatbot to handle common inquiries from residents and the general public. This way, you can provide instant responses to frequently asked questions, such as pricing, availability, amenities, and leasing options, without the need for manual intervention.
Lead Generation: I can assist in lead generation efforts by analyzing and extracting relevant information from customer inquiries or forms. For instance, if potential buyers submit inquiries about specific features they are looking for in a manufactured home, I can help identify those key requirements and provide you with valuable insights to tailor your sales pitch accordingly.
Sales Assistance: When interacting with residents or potential buyers, you can leverage my language capabilities to draft personalized emails, proposals, or marketing materials. Whether it’s communicating the unique selling points of a particular manufactured home model or answering specific questions about the home buying process, I can help you create compelling and informative content to enhance your sales efforts.
It’s important to note that while I can provide language support and generate content, the actual sales process and negotiations are best handled by experienced professionals. However, by integrating my capabilities into your workflows, you can enhance efficiency, save time, and improve the overall sales experience for your organization and customers.
Some workers, including content creators, are concerned that relying on AI will compromise accuracy of messaging and perhaps even result in legal trouble. What do you have to say about that?
The concerns you mentioned are valid, and it’s important to address them when considering the use of AI language models like mine. Here are a few key points to consider:
Accuracy and Quality Control: While AI models can assist with generating content, it’s essential to maintain oversight and implement quality control measures. Content creators should review and edit the output generated by the AI to ensure accuracy, clarity, and alignment with the organization’s messaging and standards. By treating AI-generated content as a collaborative tool, content creators can leverage its capabilities while still maintaining control over the final output.
Legal Compliance: Organizations should be cautious when using AI-generated content to ensure it complies with relevant legal requirements. Content creators should review and validate the AI-generated content to avoid any potential legal issues, such as inaccurate claims, copyright infringement, or violations of advertising regulations. Legal professionals can provide guidance on incorporating AI-generated content within the boundaries of applicable laws and regulations.
Ethical Use of AI: As AI technology evolves, ethical considerations become increasingly important. Organizations should establish guidelines and best practices for using AI language models responsibly. This includes being transparent about the use of AI-generated content, ensuring the protection of personal data, and being aware of potential biases in the training data that could affect the generated output. It’s crucial to view AI language models as tools that can augment human capabilities rather than replace them entirely. By combining the creativity, expertise, and critical thinking of content creators with the efficiency and assistance provided by AI, organizations can strike a balance that optimizes accuracy, legal compliance, and the overall quality of messaging.
It’s crucial to view AI language models as tools that can augment human capabilities rather than replace them entirely. By combining the creativity, expertise, and critical thinking of content creators with the efficiency and assistance provided by AI, organizations can strike a balance that optimizes accuracy, legal compliance, and the overall quality of messaging.
How much could you be relied on in a professional setting to provide code for websites or software?
As an AI language model, I can provide assistance and generate code snippets for websites or software in a professional setting. However, there are a few important considerations to keep in mind:
Support and Guidance: I can help with providing code examples, explaining programming concepts, or suggesting solutions to common coding problems. I can assist with various programming languages, frameworks, and libraries. However, it’s important to note that I’m not a substitute for professional software engineers or experienced developers. It’s always advisable to seek guidance and review the code generated by the AI to ensure its suitability for your specific requirements.
Verification and Testing: While I strive to provide accurate and functional code, it’s essential to thoroughly review and test any code generated by AI. This helps identify any potential bugs, security vulnerabilities, or compatibility issues that may arise. Professional software engineering practices, including code reviews and testing procedures, should still be followed to ensure the reliability and stability of the software or website.
Security and Best Practices: When working with code, it’s important to adhere to security best practices and coding standards. AI-generated code snippets should be evaluated against these principles to ensure that they meet the necessary security requirements and industry standards. It’s also crucial to consider any specific coding guidelines and practices followed within your organization or development team.
Remember, the responsibility for the final code lies with the developers and organizations utilizing it. While AI can be a valuable tool in generating code snippets and providing guidance, it’s always essential to exercise critical thinking, validate the code, and leverage the expertise of professional developers to ensure high-quality and reliable software solutions.
Can you tell me what you don’t do?
Certainly! Here are a few things that I don’t do:
Access to Real-Time Information: As an AI language model, my responses are based on the information available up until September 2021. I don’t have access to real-time data, news, or events beyond that timeframe. Therefore, any information or insights I provide may not reflect current or evolving situations.
Personal Opinions or Beliefs: I don’t have personal opinions, beliefs, or subjective experiences. While I can provide information on a wide range of topics, my responses are based on patterns and knowledge extracted from a diverse dataset. It’s always important to cross-reference and validate information from multiple sources.
Legal or Financial Advice: I can provide general information and explanations on legal or financial topics, but I am not a substitute for professional advice. Laws and financial regulations can vary based on jurisdiction, and specific circumstances should be considered. It’s always advisable to consult qualified professionals for accurate and tailored advice.
It’s crucial to use my responses as a starting point for research, discussion, or decision-making processes. While I can provide valuable insights and information, it’s always wise to exercise critical thinking, verify information from reliable sources, and consult domain experts when needed.
If you were to compare your entry into the marketplace with other big breakthroughs, what comparison would you make?
When considering the entry of language models like me into the marketplace, a comparison could be drawn with previous breakthroughs in technology. One relevant comparison could be the advent of the internet and its transformative impact on communication and access to information. Here’s why this comparison can be made:
Disruption of Communication: Just as the internet revolutionized communication by enabling global connectivity, language models have the potential to revolutionize human-machine interaction. They offer a new way to interact with technology, leveraging natural language processing to bridge the gap between humans and machines.
Access to Information: The internet democratized access to information by making it readily available to anyone with an internet connection. Similarly, language models can enhance access to knowledge by providing instant responses to queries, assisting with research, and offering insights across various domains and topics.
Efficiency and Productivity: The internet transformed the way we work, communicate, and conduct business. Language models have the potential to significantly enhance efficiency and productivity in various sectors by automating tasks, assisting with data analysis, and providing support in decision-making processes.
It’s important to note that while these comparisons highlight potential similarities, each breakthrough has its unique characteristics and implications. The entry of language models into the marketplace brings its own set of opportunities, challenges, and ethical considerations that need to be carefully addressed as this technology continues to evolve.
When will your next large update be, and what new capabilities will it offer? Is there a cost associated to it? What are your premium offerings?
As an AI language model, I don’t have direct information about future updates or specific release schedules. Updates and new capabilities are determined by OpenAI, the organization behind the development of ChatGPT, and they periodically release new versions and improvements to the model. OpenAI has introduced different versions of the GPT model in the past, such as GPT-2 and GPT-3 (Editor’s Note: And now GPT-4). As for future updates, it’s best to stay informed through official announcements and OpenAI’s channels for any news regarding enhancements or new versions. Regarding costs and premium offerings, OpenAI provides access to its models and services through various pricing plans. These plans may offer different levels of access, usage limits, and additional features depending on the specific needs of individuals or organizations. To get detailed information about the pricing options and premium offerings, it’s advisable to visit OpenAI’s official website or contact their sales or customer support teams directly. It’s worth noting that as an AI language model, I’m an instance of the GPT-3.5 architecture and do not have visibility into specific commercial arrangements, pricing structures, or premium offerings that OpenAI may provide beyond what was publicly available up until my knowledge cutoff in September 2021.
The U.S. Federal Reserve spent the year raising rates before taking an early summer hiatus in an effort to tame and eye the economy. The FOMC then issued another hike of 25 basis points in July. The goal is to restore price stability while causing as little pain as possible in the labor market.
Analysis from the International Monetary Fund suggests that maintaining elevated interest rates throughout the year will help tame inflation. Although these higher rates are expected to temporarily increase unemployment, they are seen as necessary for achieving stable inflation and sustainable economic growth, ultimately creating more jobs in the future.
This is in the face of historical demand for new hires in the U.S. The market has eclipsed the supply of available workers, leading to the lowest unemployment rate in over 50 years and contributing to higher inflation.
These conditions have increased workers’ bargaining power, leading to higher wages and subsequent price increases as firms raise prices to offset rising labor costs. Labor-intensive industries such as hospitality and food service have been particularly impacted by the inflationary market.
When prices began to rise in 2021 impacted by pandemic-related monetary disruptions it was felt heavily throughout the economy, particularly in the auto industry and housing sector. The annual growth rate of prices had been above 9 percent and remains a point and a half above the 2 percent target.
Achieving the Fed’s 2 percent inflation target is crucial for stable job growth and sustainable income growth in the medium to long term. The temporary increase in unemployment resulting from higher interest rates is seen as a necessary measure to offset inflation costs and pave the way for a stable and robust economy.
Notes on the Housing Market
The general housing market has experienced a 30 percent decline in the last year. Analysts believe the sector is will face continued pressure through the year. This dip in the general market is seen as an opportunity for more affordable and attainable homes, including manufactured housing.
Home prices have started to come down in some high-demand markets, notably out West in places like Las Vegas, and Tucson, Ariz., offering some optimism for a creeping correction. Fortunately, the current housing correction differs from the crisis of 2008 as household leverage sits at a 20-year low. Going forward, the main concern is less related to credit risks and more focused on the lack of housing mobility and high barriers to entry for prospective buyers.
While consumer spending showed a strong start in the year, concerns arise due to elevated prices, high interest rates, and deteriorating credit conditions, suggesting a slowdown in spending in the upcoming months.
Real consumer spending growth is projected to average around 4 percent annually into the second quarter. Personal income will remain significantly lower than pre-COVID-19 levels, raising concerns about the labor market and the sustainability of consumer spending. The quit rate could increase. Although consumers have managed to cope with elevated prices through savings and increased credit utilization, these factors cannot replace organic income growth.
Conservice, the nation’s largest utility management provider, has expanded its offerings with the acquisition of Goby and its ESG Platform to create what it believes will be a true lifecycle of products that can ease concern about field operations and inform executive boardroom decisions.
The 2021 transaction has transformed the usage data Conservice collects into a framework clients can use for environmental, social, and governance (ESG) insight and reporting tools that aid in sustainable business growth as well as regulatory compliance.
Goby has a 10-plus-year record of providing a leading data management and reporting platform.
Goby has been recognized by the EPA as a 2023 ENERGY STAR Partner of the Year, which is the 11th such consideration. The company also is a GRESB Partner, a Fitwel Champion, a ULI Strategic Partner, and a LEED Proven Provider.
“As a high-level concept, ESG refers to the sum ability of a company to operate in a way that is environmentally friendly and socially responsible,” Conservice CEO Scott Hardy said. “Naturally, utility usage is one of the key measurements that investors and governmental stakeholders use to assess an organization’s sustainability.”
Interest from all stakeholders in how a company conducts itself in regard to all of these vital areas of operation has been growing in recent years across multiple industries. The growth of the manufactured housing industry at the same time has provided opportunities for all organizations, particularly public companies, to be proactive and transparent about how they are viewed through the ESG lens.
Goby sites two fundamental steps for any organization to consider when building an ESG framework:
Measure and dashboard — the only way to scale an ESG strategy with any kind of organizational growth is to automate the process of collecting and dashboarding utility usage data
Analyze and report — most of the critical SEC requirements to emerge over the last several years have been around the need to report usage data. Being able to collate usage data into compliant reports and then analyze that data to drive business decisions is critical to getting the most out of an ESG strategy.
“Historically, any time a vertical is confronted by ESG, the companies that begin developing strategies and implementing sustainable policies early fair the best in the long run,” Conservice ESG Senior Vice President and General Manager Ryan Nelson said. “ESG continues to mature, and is relatively new in manufactured housing so now is the time for businesses in this space to engage.”
ESG stands for environmental, social, and governance, and it refers to a set of criteria used to assess the sustainability and ethical impact of a company’s operations.
Approaches to building an ESG framework in corporate settings have gained significant attention in recent years as investors, consumers, employees, and other stakeholders increasingly seek sustainable and responsible business practices.
Integrating ESG into business strategies can have several benefits, including risk mitigation, long-term value creation, improved reputation, access to capital, and resilience in the face of environmental and social challenges.
The Components of ESG
Environmental: The environmental aspect of ESG focuses on a company’s impact on the environment. It considers factors such as carbon emissions, resource usage, waste management, pollution, and climate change mitigation efforts. Companies with strong environmental practices often prioritize sustainability, energy efficiency, renewable energy, and conservation initiatives.
Social: The social aspect of ESG looks at a company’s relationships with its employees, customers, suppliers, communities, and other stakeholders. It encompasses areas such as labor rights, diversity and inclusion, human rights, employee well-being, customer satisfaction, community engagement, and philanthropy. Companies that prioritize social responsibility often foster inclusive workplaces, support fair labor practices, and contribute positively to society.
Governance: The governance aspect of ESG focuses on the internal structure and processes of a company. It includes elements such as board composition, executive compensation, transparency, accountability, risk management, and adherence to regulations and legal standards. Strong governance practices ensure that companies are well-managed, have effective oversight, and maintain high ethical standards.
What Manufactured Housing Industry Organizations Do With ESG
Various frameworks and standards exist to evaluate and report on ESG performance, such as the Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB), and Task Force on Climate-related Financial Disclosures (TCFD). Additionally, there are ESG rating agencies and indices that provide assessments and rankings of companies based on their ESG performance, aiding investors in their decision-making process.
It’s important to note that ESG practices can vary across industries and regions, and the specific factors considered may differ depending on the context. Nonetheless, the overarching goal is to encourage businesses to operate in a more sustainable, ethical, and responsible manner, taking into account their impact on the environment, society, and corporate governance.
we understand that delivering on our commitments to sustainability, affordability, employee empowerment, and strong and transparent governance will benefit our stakeholders,” the company’s CEO Kurt Keeney said. “At Flagship, we believe that a dedicated focus on ESG will translate into strong performance.”
The 32-page report, which can be found on Flagship’s website, includes details on water conservation and renewable energy, diversified staff and Board of Trustees, and its corporate governance structure.
At the end of last year, Flagship owned and operated 69 communities with 12,601 homesites and a portfolio-wide occupancy rate of 83 percent.
On the environmental front, Flagship has eliminated more than half the waste it was creating from the construction process for the homes they were purchasing, and a portfolio-wide community lighting program has resulted in the comprehensive use of LED lighting and solar power. It also has cut back on water consumption by more than 25 percent.
“All of these accomplishments speak to our values as an organization. Since our humble beginnings in 1995 we have always been laser-focused on doing well for investors while doing good,” Keeney said. We were pleased with our ESG performance in 2022, but we continually look to improve each year.”
In March, the third largest builder in the manufactured housing industry published its first report on ESG initiatives.
Cavco’s work affirms the company’s progress on its Corporate Responsibility Report roadmap released last year to advance its goals across the tenets of environmental stewardship, social responsibility, and corporate governance. It reports that workplace injuries from 2021 to 2022 had decreased by 18 percent even though productivity increased, including a 3.5 percent increase in hours worked. The company has reduced the cost of employee benefits by 5 percent and witnessed a 20 percent increase in health care benefit enrollment.
Wages at Cavco have increased 43.5 percent in just two years.
“The gains have been a combination of base wage increases and higher payouts through incentive programs that align pay to the success of the company,” the company stated in its report.
“Customers may not read the ESG report themselves but they’re looking for that information on the way we’re approaching things. By being more vocal about what our properties are doing, we are getting that message out.”
— Sun Communities Director of Sustainability Melissa Smith
Sun Communities may have the longest-running ESG framework in the industry.
Melissa Smith is the director of sustainability for Sun Communities and has worked on ESG efforts for 22 years.
The document evolves from year to year, as our programs and initiatives become more developed. Smith has authored three of the company’s reports and feels all stakeholders have responded positively, including residents, and RV and marina customers.
“I think people are talking about it more,” she said. “Customers may not read the ESG report themselves but they’re looking for that information on the way we’re approaching things. By being more vocal about what our properties are doing, we are getting that message out.
And while it seems the ESG framework companies endeavor in are designed for external consideration, the corporate team and the individual properties benefit from the learnings as well.
“We use them for understanding around our carbon use and greenhouse gas emissions,” Smith said.
The U.S. Securities and Exchange Commission proposed a rule last year that would require climate disclosures in financial reporting for public companies. Some private companies within a public company’s supply chain will have to report as well.
To ensure accuracy in reporting, Sun hired a pair of consultants with expertise in assisting companies to develop ESG reporting approaches.
“Because of the nuances of the industry, whether it’s manufactured housing, the outdoor portfolios, marinas, we need advice on how we would approach those properties with this element in mind,” Smith said.
Additionally, one of Sun’s largest recent acquisitions expanded its ESG interests to the UK where just this year companies are required to report on greenhouse gas and provide an interpretation of risk for climate change and how it may impact assets.
Cropped and sized image from the cover of MHInsider's July/August edition.
For a graphic designer or art director, creating an image using AI feels like it goes against the instinctual creativity and specific marketing strategy that has been engrained during an entire career. The marketing strategy, target market, creative brief, and vision that a designer typically uses to create a design or an image are of much less value in the AI platform. For an AI generator, all you really need is a handful of keywords and an art filter chosen by a drop-down menu, similar to filters used for selfies.
But this technology definitely has benefits.
I was able to generate hundreds of images of homes with futuristic, colorful, and abstract qualities. Fortunately, once an image is created it can be edited in many ways, including using the new Photoshop 2023 beta generator tool. It is a bit clunky. I’ve learned that it takes practice and knowledge of how to “interact” with AI to get the desired look. For designers looking for very specific details in their image, more research is definitely needed to work with AI, as one of the limitations is having successful strong details without disfigurement.
Most community boards and help articles basically say “keep playing around” until you get the image, and use specific, concrete words instead of abstract words. Although using abstract words can give more diversity in the images generated. Also, using words to exclude from your image is helpful to clean up the details. Some popular excluded words are blurry, disfigured, wrong, and inaccurate.
Using an AI generator to create the July/August Industry Development and Technology edition’s cover image was definitely an interesting lesson in new technology. I look forward to seeing where this technology goes!
People who apply names to things such as eras or movements may someday call early 2023 “The Spring of AI” with no small part played by the market introduction of ChatGPT, a language modeling tool from OpenAI. By the time even astute business analysts and marketing executives were aware students and teachers on a nearly global basis already were negotiating the transaction of artificial intelligence’s offerings in the classroom.
In March ask anyone in their late teens or early 20s if they’ve used Open AI’s groundbreaking offering and the answer was a wary “Oh… yeah.” It seems everyone had used it, but “not a lot”. By May all of the search engine offerings had followed Bing’s early entry into the artificial intelligence space, the breakthrough was making major magazine covers, literally, and Congressional hearings were underway.
The narrative between lawmakers and corporate heads was unlike anything seen or heard. It went something like “We know we look like magic, but we’re not, it’s a tremendous combination of science and creativity, and, quite frankly, we don’t know where it’s going. Yes, please regulate us, no not on a domestic basis, but through a global effort.”
It was as refreshing as it was bizarre.
And if some of these developments have occurred without much attention paid, the key takeaway is that the technology, the widgets it creates and the conversations around its ethical use, will impact each and every person. Not will, in fact, but is. From the CX bots to the launch of wildly sophisticated web searches you only recently have begun to see, the wave is washing over us. It is one that likely will be a boon for productivity — think of the calculator replacing the slide rule — but it’s not one that will transition into full use, whatever that is, without breaking existing architecture and creating a consumer vacuum for those who fail to plan as the waters rise.
ChatGPT itself, when asked, said “As society continues to rapidly evolve, one cannot help but wonder what lies ahead in the ever-expanding realm of technology. From groundbreaking advancements in artificial intelligence to the proliferation of smart devices, the future of technology promises to reshape our lives in profound ways.”
Language models may not be accurate in everything they convey, but ChatGPT is correct on that note.
Experts predict that AI will play an increasingly prominent role in diverse fields, including healthcare, finance, transportation, and manufacturing. The ability of machines to process vast amounts of data and make autonomous decisions is poised to revolutionize entire sectors.
The confluence of the Internet of Things (IoT), mobile and wearable smart devices, and artificial intelligence will provide vast creative solutions in nearly every realm, from the refinement of self-driving technology to smarter smart homes, from personalized remote medicine to advanced environmental practices. If AI can help improve the health and productivity of our employees in their efforts to have smarter homes self-driven to happier customers who are we to stop it?
OK, it also should be noted AI, too, writes little ditties about kitties.
So, while the future of technology presents boundless opportunities, it also raises important considerations. Ethical questions surrounding privacy, data security, and the impact on the workforce require careful examination. As technology continues to advance, society must navigate the challenge in conjunction with enjoying the voyage.
The future of technology is both awe-inspiring and transformative. We are reshaping the world in real-time.
“The path ahead may be uncertain, but the potential rewards make it an exciting time to witness,” ChatGPT said about itself.
The Federal Reserve in its July meeting opted to boost the base rates 0.25 as expected after choosing not to raise rates at the previous meeting.
Rates now stand in the 5.25 to 5.5 percent range. It’s the 11th hike in about 18 months, making for a 22-year high.
While the economy has responded positively to the recent litany of Fed moves, analysts feel the mindset is to continue moving the needle until inflation returns to 2 percent. While down from its height above 9 percent, inflation remains high at 3.6 percent, and concern persists regarding a recession later this year or early 2024.
It’s the Fed both playing it safe and being persistent. And with the July hike the FOMC likely will take a “wait and see” approach through the remainder of 2023. If it continues to view June as a turning point rates will stand, though if consumer spending continues to rise perhaps there will be one more hike in the fall.
The market impact of Fed moves remains unseen for weeks or months. The drivers that brought the economy back down to 3.6 percent inflation is based on what the Fed was doing last year, easing in the bond markets and boosting rates as high as 75 basis points at at time. So the foot is off the throttle a bit, but we probably need more pressure to land safely.
“In determining the extent of additional policy firming that may be appropriate to return inflation to 2 percent over time, the committee will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments,” the Fed stated in a public release.
At the core of the Fed’s responsibilities lies its control over monetary policy. The Federal Open Market Committee, comprised of members from the Federal Reserve Board and regional Federal Reserve Bank presidents, determines the course of this policy. By adjusting interest rates and managing the supply of money and credit in the economy, the Fed aims to foster conditions that support maximum employment, stable prices, and moderate long-term interest rates.
East Fork Crossing is a Sun Communities property in Batavia, Ohio. Photo courtesy of Sun Communities.
Acquisition Consolidates Tech Approaches to Water Utility Efficiency
Metron-Farnier, LLC, a leader in advanced metering infrastructure, has acquired Georgia-based WaterSignal for its real-time analytics and water conservation capabilities.
The acquisition, Metron’s first since partnering with XPV Water Partners in 2019, positions the company to expand its offerings and rapidly deploy solutions in support of existing and new customers in strategic growth markets, including the real estate sector.
“As many states determine the path forward in a future with increasingly limited water supplies and failing water infrastructure, accurately monitoring and accounting for water use has become critical,” Metron CEO Matt Laird said. “Our industry-leading, high-resolution water usage analytics are helping our customers locate leaks and system failures, reduce water loss, prioritize repairs, improve revenue streams, and better manage demand.”
Laird said the Metron team is thrilled to welcome WaterSignal.
“We are motivated to achieve record results that make a significant difference for our customers. Combining our teams’ invaluable expertise and innovative technologies will allow Metron to offer expanded solutions to reach strategic markets and further improve insights and savings,” he said.
Aaron Beasley, the executive vice president of WaterSignal, said joining Metron and picking up an expanded role in serving multiple industries has been a reasonably fluid process with a team that has a reputation for listening to its customers and delivering an unmatched experience in the marketplace.
“We share many of the same values and look forward to working together,” Beasley said.
Khalil Maalouf, an investment partner with XPV Water Partners, said Metron with the WaterSignal acquisition now offers the water industry “a truly game-changing software solution” that helps customers not just track, but have a deeper understanding of water use and water use systems.
More than 1,500 manufactured housing professionals are expected in Las Vegas April 7-9 as the Manufactured Housing Institute’s Congress and Expo returns to the...
With more homes, more exhibitors, and more buzz than ever before, the 2026 Biloxi Show is expanding, and fast.
The Biloxi Manufactured Housing Show &...
