Today, in the united States, housing is facing two major problems-affordability and time lag to build. The cost to construct a new, site-built home is skyrocketing; the cost of lumber alone has risen 87% since March. Builders are unable to finish a home in less than 12 months in most cases—sometimes two years! Lack of skilled labor, scarce material and high demand has created this log jam.
The biggest benefit of manufactured housing is affordability followed closely by speed to build. To be able to have a home built in a factory that rivals site built housing for significantly less per square foot and a much quicker build time is a significant advantage that our industry must take advantage of.
We are living in unprecedent moment in history. We have been riding the wave of prosperity and growth for 12+ years. 2020 started with very strong fundamentals but veered sharply with the current situation with covid-19 altering every aspect of the world’s economy, not just our industry.
Pre-covid, manufactured housing was the best solution to the affordable housing crises in the united States. It is still the best solution during the crises and after the crises! Sure, the cost of manufactured homes is climbing. Sure, the delay in manufacturing is increasing. But, neither of these are nearly as bad as the site-built home industry.
Our industry is showing very strong fundamentals and the community market is a very appealing option for more and more Americans who want affordability, comfort and a sense of community. Stand tall and be proud of what we do!