Expect excessive growth in manufactured homes over the next five years.
A trend we have discussed numerous times is gaining not only momentum, but attention. If you have followed Mobile Home Millions at all, you certainly can understand how this surge in acceptance and appreciation (both financially and publicly) is noteworthy. These prefabricated houses simply are not what they once were and offer far more than other options to would-be homeowners who want to break free from the rent cycle. It is great to see how this method of real estate investing is finally getting the appreciation it deserves.
There are a few primary factors propelling the insistence with which these houses are increasing in popularity. One is the awareness being brought to the growing homeless population and the utter lack of affordable housing. The other is the material upgrades offered in manufactured homes, their locations, and the type of people making them their homes.
The naysayers of the manufactured housing market have primarily been based upon consumer confidence, which comes back to a lack of education out there for consumers to realize just how much times have changed. This is where investing in this product is so profitable, there simply aren’t as many investors as there could be. There is increased availability of attractive home loans for site-built homes and this can also hamper the enthusiasm behind manufactured homes. The U.S. holds the greatest share of the revenue generated from manufactured housing sales. Canada holds a less substantial share, as it has seen a decline in overall construction spending recently. Additionally, the slowdown in installation rates precludes a struggle for Canadian growth within the industry and a lagging recovery period through 2024.
Alternatively, within the U.S. there are a significant number of manufacturers of these houses and their service providers who simultaneously occupy important positions in the global and local markets.
These North American manufactured housing key players have strategies in place to track market trends, capture niche segments and spot potential new segments. Their teams keep a vigilant eye toward revolutionizing the industry and increasing the footprint of the manufactured housing industry, given the chance they need to provide the solution they were made for. The fervor, enthusiasm, and general know-how is there, but the question really is, “Are you ready to invest in a recession-proof market and recession proof your portfolio?”