By John Chason, Director of Acquisitions at The Firm, Inc.
I hope I don’t sound like “Captain Obvious” here but if you are even remotely interested in owning manufactured housing communities, now is the time. No one can predict what next year will hold for the economy and real estate markets, but affordable housing will be a necessity and in high demand.
So, here is a list of reasons on why you shouldn’t be late to the party!
1 – The interest in manufactured housing across the US has jumped in the past year at an increase of about 49% based on Google searches.
2 –Manufactured housing is more affordable and has a much lower cost of living rate than single family homes or most multifamily units.
3 – Unfortunately, the economic effects of the COVID-19 pandemic will most likely be far reaching into 2021 especially in regards to personal income and spending. Again, affordable housing will be a necessity.
4 – The Laws of Supply and Demand are extremely favorable towards manufactured housing as virtually no city or county will approve zoning for new manufactured housing communities. This is due to the tax base dollars being less than the expense to the municipality.
5 – Investors from other commercial asset classes such as single family, multifamily, self-storage, retail, etc., have been increasingly interested in, and currently acquiring, manufactured housing assets. This demand is also increasing manufactured housing community valuations.
It is my hope that you, if interested in manufactured housing, find this information useful. Please reach out if you have any questions or if I can help.