Manufactured Homes Deliver the American Dream
as seen on USAToday
Meet Chesney Cross, Chesney and her husband began house hunting in the Knoxville, Tennessee area just as the pandemic hit. After a year of searching, and months of discouragement, the couple were not able to find a home within the $250,000 budget that was not a major fixer upper. As frustrating as the house hunting process has become, Chesney would spend hours searching the internet for her dream home with a farmhouse aesthetic.
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Fast forward a few months when she came across the 'Southern Charm' model by Clayton Homes, it was e-v-e-r-y thing she had been looking for in her dream home. From there it was a quick process, she, her husband and their son Cash moved in just three months after signing a contract.
So many Americans are priced out of the housing marketing with double digit price increases, bidding wars and housing shortages - puts the dream of homeownership out of reach for thousands of Americans. However, due to the current housing market it has allowed for a positive spotlight to be put on manufactured homes as they continue to grow in popularity, because their cost is roughly half that of homes built on a permanent site.
According to the Manufactured Housing Institute, more than 43,000 land-lease/communities exist in the U.S. with an estimated 4.3 million home sites. Nearly 22 million people live in manufactured homes, with that number expected to grow. For the first time in 15 years, manufactured homes are on track to deliver more than 100,000 units this year, a 23% increase over 2016, says MHI.
There is no question, the quality and durability of manufactured homes have improved in recent decades to conform to federal and state requirements, making manufactured homes attractive to those who otherwise may have never considered a manufactured home.
Jacob Channel, an economist with Lending Tree says "his company's report shows that mobile homes can be a good investment." It is the 'trailer park' stigma that still hangs over so many, and the lack of proper knowledge and education that needs to change. Channel goes on to say, "people are afraid to buy mobile homes for a variety of reason, and one being they're afraid they won't see any return on investment. As long as you buy in a decent location, in a decent community, you can expect to see a return on your investment."
So many Americans are priced out of the housing marketing with double digit price increases, bidding wars and housing shortages - puts the dream of homeownership out of reach for thousands of Americans. However, due to the current housing market it has allowed for a positive spotlight to be put on manufactured homes as they continue to grow in popularity, because their cost is roughly half that of homes built on a permanent site.
According to the Manufactured Housing Institute, more than 43,000 land-lease/communities exist in the U.S. with an estimated 4.3 million home sites. Nearly 22 million people live in manufactured homes, with that number expected to grow. For the first time in 15 years, manufactured homes are on track to deliver more than 100,000 units this year, a 23% increase over 2016, says MHI.
There is no question, the quality and durability of manufactured homes have improved in recent decades to conform to federal and state requirements, making manufactured homes attractive to those who otherwise may have never considered a manufactured home.
Jacob Channel, an economist with Lending Tree says "his company's report shows that mobile homes can be a good investment." It is the 'trailer park' stigma that still hangs over so many, and the lack of proper knowledge and education that needs to change. Channel goes on to say, "people are afraid to buy mobile homes for a variety of reason, and one being they're afraid they won't see any return on investment. As long as you buy in a decent location, in a decent community, you can expect to see a return on your investment."
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