MFH News/Views: Sm+rt Homes Hopes to Help Minneapolis, Millennial’s Find Housing, and GOP Takes Aim At Dodd–Frank

It’s Monday, July 4, 2016. Below are your manufactured housing headlines for this Fourth of July holiday…

Creating affordable housing, potential employment opportunities, and some much-needed commercial development, the North Side of Minneapolis could soon see the largest minority-owned manufactured housing company set up shop – benefiting both sides of the Twin Cities. Millennial’s, those 18 to 34, are gaining independence thanks to the affordability of manufactured housing, according to a new Pew poll. And the GOP plans on abolishing Dodd-Frank and overhauling of the Consumer Finance Protection Bureau (CFPB), to the consternation of Clinton and Sen. Warren.

Those are some of the more intriguing manufactured housing headlines currently circulating the Internet, now let’s drill down on some facts…

Sm+rt Homes Offers Employment and Affordable Housing to Minneapolis North SideScreen Shot 2016-07-03 at 11.30.20 AM – Thor, the North Star state’s largest black-owned business is currently trying to negotiate a win-win deal for a piece of vacant land with Hennepin County. If negotiations are successful, they’ll move Thor’s new headquarters to Minneapolis North Side in 2017. Sm+rt Homes, a new subsidiary of Thor, will build, sell, and transport high end, contemporary styled manufactured housing … at nearly 25 percent less than the average cost of stick-built construction. Helping to redevelop the urban blight caused by the current inventory of over 500-plus vacant lots – produced when the local government demolished discarded, tax-forfeited property.

Screen Shot 2016-07-03 at 11.33.07 AMMillennial’s Discover Prefabricated Housing –  Underpaid, underemployed, and anxious to move out of their parent’s basement, millennial’s – those individuals 18 to 34 – have discovered the fiscally responsible solution to today’s housing crisis … manufactured / prefabricated housing. Fresh out of college with an average debt load of approximately $20,000, 32.4% of today’s millennial’s have been riding out the recession and its slow recovery with mom and dad, according to the Pew Research Center. Down but not out, these 18 to 34 -year-olds have shown tenacity in the face of adversity and have quickly become one of the fastest growing demographics for today’s quality built manufactured homes.

GOP Takes On Dodd-Frank, CFPB, Ms. Clinton, and Sen. WarrenScreen Shot 2016-07-03 at 11.13.53 AM – Backstory: During our recent financial meltdown, more commonly known as the Great Recession of 2008-2011, when the Dems ruled Congress with an iron fist, shoving massive financial reform through with minimal opposition, Dodd-Frank, was one of the more odious pieces of legislation passed. Dodd-Frank placed harsh rules and regulations on all types of consumer lending. Focusing myopically on what they called “loose” and “predatory” real estate lending practices, the savage logic of the Dodd-Frank rules is a perfect example of policy run amok. Now in 2016, a Republican Rep. from the great state of Texas, serving as the Chairman of the Financial Services Committee, has vowed to repeal and replace Dodd – Frank with an economically stimulating “pro-growth”/”pro-consumer” alternative. Speaking at the Economic Club of New York, R-Texas Rep. Jed Hensarling made clear he wanted to completely overhaul the Consumer Financial Protection Bureau (CFPB) and change the “legislative paradigm in banking and capital markets.” In true political form, both Hillary Clinton and Sen. Warren were quick to demonstrate their relentless partisanship. With Sen. Warren calling it a “wet kiss for Wall Street,” and  Clinton’s camp claiming she would create “tougher new rules, stronger enforcement, and more accountability.”

MFH News/Views prediction:

What becomes of Dodd-Frank will be decided in the November General election. If Hillary Clinton is elected POTUS, Dodd-Frank “stays.” Donald Trump wins, “it goes.”

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