Manufactured Home News and Views from Across the U.S.
A first-of-its-kind solar garden for residents of Boulder, Colo. mobile home park — According to a report by Daily Camera, a first-of-its-kind solar garden is set to save Ponderosa Mobile Home Park residents money on their energy bills.
According to the city, more than 100 households in Boulder spend at least 14% of their income on energy needs. The solar garden is expected to save Ponderosa residents about $400 annually. Some may see more savings; some may see less. It is dependent on how much energy the particular household uses.
There are other solar gardens that dedicate a portion of the kilowattage to lower-income households. However, this particular facility, owned by the City of Boulder, Colorado, and located near the Boulder County Regional Fire Training Center at the Boulder Reservoir, is the first municipally owned garden in the nation to designate the entire capacity for low-income participants — as far as those involved know
Real estate investors adding unwelcome competition for many would-be homeowners, in the “traditional sense” – – According to a report by the Associated Press, soaring home prices and rents are fueling real estate companies’ appetite for houses, adding unwelcome competition for many would-be homebuyers.
There are so-called “iBuyers,” companies like Zillow, Redfin, and Opendoor, which buy homes, typically from individual sellers who want to sell their home quickly and then put the home back on the market.
“Homes aren’t staying on the market very long,” said Sheharyar Bokhari, senior economist at Redfin.
“Flipping” houses by real estate investors is a big contributor to the soaring home prices that eliminate much lower and middle income, would-be homebuyers, from realizing the uniquely American dream of homeownership, “in the traditional sense.”
Manufactured housing is the one bright spot for those seeking super affordable high-quality homeownership. A new manufactured home is “everything a home should be,” and will be at least equal, and often superior to a new site-built home in every respect, including construction, amenities, safety, energy efficiency, appearance, and will have a cost up to 50% less than a newly constructed on-site built home, (not including land).
New Biden plan would add 100,000 manufactured homes and “plexis” – – According to NEWSNATION USA, The U.S housing market is about as unwelcoming as it ever been for first-time buyers. A new Biden plan would help homebuyers find more houses at affordable prices.
In July, the nation’s housing supply was 12% lower than it was a year before, while the median selling price of a home was up by a stunning 17.8%, according to figures from the National Association of Realtors. If the number of available homes continues to erode, there are only one place prices can go!
The administration is targeting two specific property types to help buyers find: manufactured homes and small multi-purpose properties or “plexis.”
Manufactured homes are built in factories, then installed on-site. Fannie Mae has backed loans on manufactured homes since 2020, and Freddie Mac was recently given an OK to do the same, to increase access to those homes.
Though the administration’s plan for 100,000 homes within three years is winning praise in the housing industry, it’s a far cry from the number of houses the U.S. needs. How that is to be accomplished has not been explained.
The manufactured housing industry has the capacity to dramatically help satisfy the need for affordable high-quality homes American home buyers want.
Manufactured housing comes through Covid-19 as an even hotter senior living option — Prior to the Covid-19 pandemic, mobile home parks were on the rise as a senior living option. Offering similar amenities as active adult communities, manufactured housing was increasingly popular for consumers and a “red-hot target” for real estate investors, according to a report by Senior Living News.
The pandemic did not temper investor interest in, or the performance of, age-restricted manufactured housing communities. The manufactured housing sector continued to post strong performance over the past 18 months, and the investor pool seeking opportunities in the space is bigger than ever.
In fact, Covid-19 arguably strengthened the case for manufactured housing as a more prominent part of the senior living landscape — and a type of asset that can both compete and inspire innovations in other types of age-restricted housing.