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Posts Tagged ‘Housing Market’

HUD Secretary Ben Carson Sounds Off on Housing Market, Opportunity Zones, More

March 14th, 2019 Comments off

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There is discussion of the 2020 Housing and Urban Development (HUD) Budget, and its impact on housing.

 

There talk about opportunity zones, something that could prove useful for manufactured home producers, among others.

Then there is discussion by Secretary Carson on homelessness and more.

This week, Secretary Ben Carson appeared on CNBC to discuss how HUD is promoting economic opportunity through the Opportunity Zones initiative, among other tools for revitalizing distressed communities around the country and creating more affordable housing for American families.

 

With Opportunity Zones – which MHProNews spotlighted earlier this week – Carson said, “you are taking dollars that are going to be invested in something somewhere, and you are directing them to the areas that have been most neglected economically, historically,” Secretary Carson said. We have “a chance to revitalize those areas and to provide jobs and opportunities for the people there so they can climb the ladders [of opportunity] and become part of the American dream.”

 

 

Secretary Carson serves as Chair of the White House Opportunity and Revitalization Council. The Council’s 13 Federal member agencies will engage with governments at all levels to identify ways to effectively use taxpayer dollars to revitalize low-income communities.  The video also discussed the 2020 HUD Budget, some facts about the manufactured housing component of that topic are in the report linked below the byline, email headline news sign-up, and notices.

That’s this tonight’s “News through the lens of manufactured homes, and factory built housing” © where “We Provide, You Decide” © ## (News, analysis, commentary.)

 

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Related Reports:

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What HUD Will and Won’t Say About Manufactured Housing Programs in 2020 HUD Budget

HUD Secretary Ben Carson on Opportunity Zones, Revitalization, DROPS 2020 Announcement, Plus Manufactured Home Stock Updates

Is POTUS Trump Racist? “Here Today, Here to Stay” – HUD Secretary Ben Carson Sounds Off

HUD Secretary Ben Carson and Senator Thom Tillis Discuss Affordable Housing and Manufactured Homes, Video

“A New Era of Cooperation and Coordination,” is Promised by HUD Secretary Carson, Saying “I Hear You”

Greener, Stylish Manufactured Homes – Hidden Facts in the Washington Post Manufactured Housing Narrative

 

2020 Federal Budget Request For Hud Manufactured Housing Program Needs Further Reform

 

Manufactured Home Production Decline Persists As 2019 Begins

HUD Whitewash on DOE Rule Costs, More Washington Manufactured Housing Updates

 

 

 

 

 

 

Zillow’s Predictions for U.S. Housing Market Under Donald Trump

November 29th, 2016 Comments off
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Credit: Newsmax.

With the election of Donald Trump, many are trying to predict what’s to come for the U.S. economy in 2017 and beyond.

Zillow recently shared its predictions for the U.S. housing market in 2017, including:

  • which demographic segment will have more homeowners,
  • that buyers may have to spend more as builder attempt to cover costs,
  • and how much home values may grow in 2017.

For those considering new construction in 2017, it’s worth considering the added cost that may come amidst ongoing construction labor shortages that could get worse if President-elect Trump follows through on his hardline stances on immigration and immigrant labor,” said Dr. Svenja Gudell, Zillow’s chief economist.

The firm thinks that the president-elect’s stated plan to deport criminal illegal aliens will hurt conventional construction labor shortages.

Zillow predicts more millennial buyers. There are 80 million millennials in the U.S., so millennials will drive up the homeownership rate. The online real estate tracking and data firm also believes that rental rate increases will slow in 2017.

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Photo credit, Business Journal.

Based on Zillow’s survey of over 100 economic and housing experts, the company thinks home U.S. values will grow 3.6 percent in 2017. National home values have risen 4.8 percent so far in 2016.

For a related story on the NAHB view and how manufactured housing pros can respond to the construction labor shortage, click here. ##

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

U.S. Homebuilder Confidence, November Report

November 26th, 2016 Comments off
ushomebuilderconfidenceremainsstudyinnovembercreditpeoplespunditdaily-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: People’s Pundit Daily.

The National Association of Home Builders (NAHB)/Wells Fargo builder sentiment index was released on November 16th and remained unchanged at 63. The index is two points below September’s reading, which was the highest in nearly a year. Readings above 50 indicate that builders view sales conditions as good rather than poor.

Ongoing job creation, rising incomes and attractive mortgage rates are supporting demand in the single-family housing sector,” said Robert Dietz, the NAHB’s chief economist. “This will help keep housing on a steady, upward glide path in the months ahead.

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Robert Dietz. Credit Twitter.

Builders’ view of current sales held steady from last month, while a gauge of traffic by prospective buyers edged higher. But their outlook for sales over the next six months declined slightly.

Even so, builders remain optimistic overall about new home sales, which are running ahead of last year’s pace.

The index shows that sales of new U.S. homes hit a seasonally adjusted annual rate of 593,000 units as of September, which is up nearly 30 per cent from a year ago. Sales of new homes were up 13 per cent through the first nine months of this year compared to the same period in 2015.

A healthy job market and low interest rates have bolstered demand for new homes and fueled construction of single-family homes this year. Still, builders complain new construction is being hampered by a shortage of skilled labor and rising costs for ready-to-build land parcels in many markets.  That reality, and other factors, have been cited by MHProNews as reasons why factory-home building could be poised to gain market share, given the right steps by industry companies and leaders.

NAHB Logo

 

This month’s NAHB builder index was based on 325 respondents.

Though new homes represent only a fraction of the housing market, they have an outsized impact on the economy. Each house conventionally built creates an average of three jobs for a year and generates about $90,000 in tax revenue, per NAHB data. By comparision, each manufactured home built ads about one job to the economy, because of greater efficency. ##

(Image credits are as shown above.)

rcwilliams-writer75x75manufacturedhousingindustrymhpronews

RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

Manufactured/Modular Home Retailer Grabs Positive Local Media Coverage

September 24th, 2016 Comments off

anacapahomesteam-creditanacaphomespostedmanufacturedhousingindustrydailybusinessnewsmhpronewsVentura, California based Anacapa Homes received positive local media coverage by announcing that they are the new area representative for Skyline Homes. The company touted how the addition of Skyline Homes adds to a mix that also includes California and Arizona based producer Redman Homes.

Anacapa Homes is owned and operated by Katherine and David Hackett.

Speaking about their deal to represent Skyline Home, they naturally told The VCStar that they are pleased.

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A contributed photo by Anacapa Homes to the Ventura County (VC) Star. Similar to the Bakken story by UMH Properties, this is an example of how an advertorial can be used in ways that conveys a more positive image of manufactured and modular homes.

Skyline offers both manufactured and modular homes at affordable pricing without sacrificing quality,” Katherine Hackett told the local publisher. With their eyes on the prospective home buying public, Hackett adds, They offer Formica, tile, granite and quartz counter tops. They also offer laminate and tile flooring, which seems to be the popular choice for today’s consumers.”

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Contributed photo that appeared in the VC Star. Consultant and publisher L. A. “Tony” Kovach, commenting on the Anacapa story, noted that beyond curb appeal, there are advantages in showing appealing home interiors via stills and video, and photos and video of team members. The home photos below will be from the Anacapa website, but note that these were not part of the VC Star’s article. The photo collage at top is also from the Anacapa website.

In business since 1951, Skyline Homes is an Energy Star Partner, which means its homes can save 20 percent to 30 percent on energy bills versus conventional construction. In a high cost state like California, that designation will be of keen interest to many home shoppers.

Making the Experience & Reality Match the Message

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Marketing campaigns designed to change an image and attract more upscale customers – says Kovach – are marathons, not sprints. Surveys reflect that buyers with good credit and cash often take months or even years to shop, so marketers must get and stay in front of that valuable target audience. Qualified buyers require consistent effort, and then the experience must match what is being projected. Photo credits, Anacapa Homes, but noting again that these were not part of the VC Star advertorial.

Our industry succeeds when our customers are happy,” says Tom Fath, a partner in his family’s Northwestern Indiana community business that retails new manufactured homes at their location.  “If a customer is under a false illusion without facts, we fail as an industry and lose credibility.”

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Tom Fath, New Durham Estates.

Fath’s comments came as part of a broader commentary on wrong and right ways that advertorials and other promotional outreaches could be done.

 

The Fath’s reported an over 400% increase in sales this year. They have done that by attracting more conventional home buyers, selling not only more, but also higher priced manufactured homes than they had in the 4 previous years.

Anacapa Homes says their mission is to provide an affordable, lower-cost alternative to site-building a residence, while taking less time than a traditional site-built home. That’s a solid message manufactured home (MH) retailers can project to conventional housing shoppers.

We will help you find the land, provide you with a cost estimate of the project, pull permits and offer the services of local engineers and surveyors,” Hackett told the VC Star, with those local readers in mind. “We also offer CAD design with 3D elevations, interior and exterior views of the home, and we provide the best contractor for every job, with the required experience to get the job done right.”  

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From Joe Dyton’s recent report, click the image above or here to read the story.

Projecting Manufacturd Home Postives, While Reframing Negative Sterotypes

Many forms of positive media coverage can reflect how an appealing image can be projected for manufactured and modular home retailers and communities. One of the ways that can be accomplished is the advertorial approach, but there are numerous others.

But for what Fath describes as “a great industry that is in decay and under attack,” an equally important need beyond projecting positive messages are tackling thorny issues.

Controversial issues can be handled in ways that are fair, balanced and yet project important, positive truths about manufactured homes, MH land-lease communities and the professionals in this industry. ##

(Image credits are as shown above.)

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RC WIlliams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News, MHProNews.

 

 

 

Bloomberg – Manufactured Home Industry is the Solution to the Affordable Housing Crisis

September 23rd, 2016 Comments off
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The single section home is featured in a video on MHLivingNews. The Energy Star ™ would often sell in the low 50s, has 3 bedroom, 2 baths and is thus lower in cost than what the Bloomberg story shows as the average price. Image, Sunshine Homes, Red Bay, AL.

An article in Bloomberg makes the case that manufactured homes – what they refered to as mobile homes (sic), are an obvious solution to the affordable housing crisis.

It starts with a simple question: Why Aren’t We Building More Mobile Homes?” While their terminology isn’t exactly accurate – and they admit that mobile homes aren’t very mobile – their message is clear.  The manufactured home industry provides real hope for the American Dream of home ownership at a reasonable price.

Bloomberg’s article shares metrics that show people in West Virginia accepted delivery of more than 1,000 manufactured homes last year, while 2,000 conventional builders secured permits to for new single family homes. This means that 1 in 3 homes added in the state last year was a manufactured home.

The more facts one sees, the more apparent the solution becomes, as MH professionals know.

The average sales price of a manufactured home was $67,800 in April, 2016. By contrast, the average sales price for a site-built home in the same month was  $380,000. While the manufactured home was priced without land, even factoring land cost in creates an amazing savings.

According the stats in the Bloomberg article, 75% of manufactured homes residents have household incomes of less than $40,000 per year.

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Bloomberg means, HUD Code Manufacturd Homes, not mobile homes, but the stats are useful. Credit, Bloomberg.

While the graphic shown above cites that most of the manufactured homes are highly concentrated in southern states (where the bulk of sales have been,) there are over 500,000 manufactured homes in California, which has pushed aggressive regulation that continues to affect the ability to own a home.

While those of us in the industry can see growth, it’s not always as clear to those outside of manufactured housing, due to long insufficiently addressed lingering perceptions.

solvingamericasaffordablehousingcrisissenbobcorkerhudsecretaryjuliancastrorichardcordraycfpbsamlandyumh-mhlivingnews

Bloomberg cites age, loose lending practices and the fact the manufactured home sales peaked in the mid 90’s – when they made up 1 in 3 homes sold nationwide – among reasons they think MH loans started to go bad, flooding the market with foreclosures and thus limiting demand.

While MH is years into its recovery, the data also shows that manufactured home sales have been slower to recover from the last recession than other forms of housing.

Bloomberg points to Doug Ryan, director of affordable home ownership at the Corporation for Enterprise Development (CFED – a Washington-based nonprofit group,) who cites advantages, and challenges, that the industry faces.

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Doug Ryan, CFED.

You can put them anywhere you have the land, said Ryan. As the Daily Business News recently reported, CFED’s Ryan routinely promotes manufactured homes as an important option in the affordable housing crisis.

What you’re up against is the stigma. You’d have people coming to the planning meetings and saying that you’re killing their home value.” The Daily Business News has covered this scenario playing out in Austin recently.

The Bloomberg piece ends with something for the industry to think about:

Maybe it’s time for another rebrand. The homes vary in size and price, but they’re generally smaller than the typical site-built home. Instead of “manufactured,” why not borrow the name for another kind of often prefabricated abode: the tiny house.”

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Narrative control, it seems, is everything in the fight for the American dream.  As regular readers know, MHProNews and MHLivingNews, we’ve extensively covered the many ways that the MH industry is the solution to the housing affordability crisis in the U.S.

Underscoring Bloomberg’s tip to the MH Industry?  Rebrand them as tiny houses, which are hot. ##

(Image credits are as shown above.)

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RC WIlliams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News, MHProNews

Housing Market has more Room for Expansion: Fitch Ratings

June 21st, 2016 Comments off

housing_recovery__globest.com__creditAccording to the 2016 U. S. Housing Forum report from Fitch Ratings, the housing market’s current upswing should last for two more years, as reported by nationalmortgagenews to MHProNews.

Using single-family starts as a proxy for overall housing metrics, and calculating that single-family starts have risen in five of the last six years, Fitch analysts forecast the expansion of the housing market for two more years based on an historical pattern.

The report said the average length of an upswing market is 4.3 years, when excluding the cycle preceding the most recent financial crisis. That cycle lasted about 14 years of expansion followed by five to six years of contraction.

Since 2012 single-family starts have risen consistently, and although it has not been as sizeable as in previous housing cycles, 2015 saw a 10.3 percent increase. Last year’s production hit 1.1 million properties, which included 720,000 single-family homes, short of the average of one million starts which the commentator, Jacob Passy, indicates the current upcycle has room to continue.

Meanwhile, First American Financial Corp.’s Potential Home Sales model for May indicates the market for existing home sales is under performing its potential by 2.8 percent, as they fell short of the seasonally adjusted annual rate (SAAR) of 156,000 in May, although an improvement over the 232,000 shortfall in April. ##

(Image credit: globest)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J Silver to Daily Business News-MHProNews.

MHI and MHARR Respond Differently to DOE’s Proposed Energy Standards

June 20th, 2016 Comments off

dept_of_energy__u_s__their_creditIn response to the Department of Energy’s proposed rules on energy standards for manufactured housing in the Federal Register, the Manufactured Housing Institute (MHI) says it worked closely with the DOE to try and avoid excessive costs to consumers that will outweigh benefits.

The DOE based their recommendations on the Manufactured Housing Working Group:

The MH Working Group’s recommendations were based on the 2015 edition of the International Energy Conservation Code (IECC), the impact of the IECC on the purchase price of manufactured housing, total lifecycle construction and operating costs, factory design and construction techniques unique to manufactured housing, and the current construction and safety standards set forth by U.S. Department of Housing and Urban Development.”

MHI further says that these regulatory efforts should be in keeping with HUD’s role as the prime regulator of manufactured housing, and “to ensure that these regulations are consistent with the HUD Code. MHI plans to submit written comments during the written comment period. The Manufactured Housing Consensus Committee (MHCC) will also be evaluating the impact of the rule on MH.

Meanwhile, the Manufactured Housing Association for Regulatory Reform (MHARR) says the proposed rule will add thousands to the cost of MH, depriving many in the moderate to lower-income housing market away of potential homeownership, as well as harming smaller players in the MH industry.

The rule began in 2011 with a selective leak of the proposed rule to the Manufactured Housing Institute (MHI), the industry’s largest trade organization, and others of interest, until the Office of Management and Budget demanded they re-start the rulemaking process.

The fresh start became an alleged collusion between MHI, the Department of Energy and other special interests to ram a proposed rule through an obscure committee while the DOE “awarded multiple lucrative contracts to MHI-connected ‘research’ entities to, among other, things, tout DOE manufactured housing energy regulation and break-down industry opposition to any ultimate DOE rule.”

MHARR says the DOE then provided a copy of the proposed rule in advance of the official publication date to MHI in an attempt to possibly soften opposition to the rule.

MHARR says the rule offers a solution to a non-existent problem: According to the U. S. Census Bureau, manufactured homes are already energy efficient, comparable, and sometimes lower in energy use, than site built homes.

According to DOE Manufactured Housing Working Group data, the rule would add an average of at least $2,226 to the price of a single-section MH, while adding $3,109 retail to the price of a multi-section home.

MHARR says, however, the cost will likely be closer to $4,000 for a single-section and $6,000 for a multi-section MH, although these do not include testing, enforcement or any compliance costs, and basically amount to a regressive tax that hurts those at the lower end of the economic spectrum, the very demographic affordable, manufactured homes are designed to help.

The DOE would basically impose energy measures on manufactured homes that are already available as options homebuyers can choose from, or not, measures that are not even mandated for million dollar site-built homes in most states.

MHARR says in addition to consumers, the greatest negative jolt will be on smaller HUD Code businesses who do not have the cushion to absorb the up front impact of the proposal.

MHARR says: “Thus, the industry’s largest corporate conglomerates – and their national representative MHI – have not only ‘gone along’ with DOE, but appear to have worked publicly and behind the scenes to advance government action that will disproportionately harm smaller competitors. This, together with a level of industry domination that either does – or will — exceed half the national manufactured housing market, raises antitrust questions that should and will be explored further.”

The DOE did not offer to allow the Manufactured Housing Consensus Committee (MHCC) the opportunity to consider the proposed rule or the ramifications of its cost.

MHARR has subsequently filed Freedom of Information Act (FOIA) requests because of the closed door collaboration of MHI, Dow and other parties; and seeks documents that show DOE payments to MHI-connected entities and individuals.

MHARR will submit comments to the DOE before Aug. 16, when discussion is closed; and if there are not substantive changes to the rule, MHARR says it may seek legal action.

For the DOE proposal in the Federal Register, please click here. For the link to MHARR’s full statement to MHProNews, please click here. The full download of the NAHB’s priced out study – which reflects the numbers of prospective home buyers lost per each $1000 in price increase – is found in the article linked here##

(Image credit: U. S. Department of Energy)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J Silver to Daily Business News-MHProNews.

NAHB Builder Sentiment Index Rises; Economist Questions Veracity

June 16th, 2016 Comments off

house under const  housingwireWith a reading over 50 meaning most builders see the single-family housing market as good rather than poor, the National Association of Home Builders (NAHB) housing market index rose two points to 60 in June over May, according to wsj., although economists expected a reading of 59.

Positive since mid-2014, the index hit a post-recession high of 65 in Oct. 2015, but has remained at 58 the previous months.

Continuing to move unevenly, the National Association of Realtors (NAR) reports existing home sales rose in April, but only for the 2nd consecutive month, while the Commerce Dept. tells MHProNews sales of new single-family homes also increased in April to their fastest annual rate since 2008.

Jim O’Sullivan, chief U. S. economist at High Frequency Economics Ltd. said housing is gaining momentum; but economist Joshua Shapiro of MFR Inc. says the home builders index has diverged noticeably from the actual pace of homebuilding since 2012, with sentiment outpacing building. “There remains a big disconnect between what home builders are saying and what they are actually doing,” he added.

Typically, low mortgage rates and steady job gains increase the demand for housing, but a combination of only 38,000 new jobs added last month, and continuing shortages of skilled labor and buildable lots may hamper the new homes industry in coming months.

Of the four regions, the NAHB index indicates only the Midwest fell, losing four points to 56.The Northeast moved up three points to 39, the South gained four points to 64 and the West saw an advance of three points to 70. ##

(Photo credit: housingwire)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J Silver to Daily Business News-MHProNews.

New CFPB Ruling Broadens Lending in Rural Areas

June 6th, 2016 Comments off

mfg com  arrowhead village mobile home park  jake bacon arizona daily sun  creditFor many years rural housing issues have been to the housing market what middle America has been to the east and west coasts—the flyover zone. Eighty percent of U. S. land is rural comprising just 20 percent of the population, says CoreLogic‘s Faith Schwartz, adding that rural housing is “a laboratory for cutting edge affordable housing techniques.”

The United States Department of Agriculture (USDA) and the Department of Housing and Urban Development (HUD) have mortgage programs for, respectively, rural housing and Native Americans which comprise four percent of the $436 billion in Ginnie Mae securities issued last year–$17 billion for rural housing.

A new ruling by the Consumer Financial Protection Bureau (CFPB) will implement Congress’ HELP Act—Helping Expand Lending Practices in Rural Communities—which expands guidelines for lenders to reach a broader market, as dsnews informs MHProNews.

CFPB Director Richard Cordray says: “The Consumer Bureau today has acted to implement the recent law that extends to more small creditors the specific provisions for operating in rural or undeserved areas. This rule provides broader eligibility for lenders serving in those areas to originate balloon payment qualified and a high-cost mortgages.”

A new rule introduced in Dec. 2015 requires the Federal Housing Finance Agency (FHFA) to implement the Duty to Serve rule, directing the government-sponsored enterprises (GSEs) to serve three underserved markets including manufactured housing, as well as rural markets and preserving affordable housing. It would be directed to very low-, low- and moderate-income families. ## 

(Photo credit: arizonadailysun/Jake Bacon–Arrowhead Village MHC)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J Silver to Daily Business News-MHProNews.

Modular Container Housing to House At Risk Women and Families in Vancouver

May 18th, 2016 Comments off

Vancouver__modular__atira_womens_resource_center_credit__imageMHProNews has learned the seven story modular housing complex made from old shipping containers rising in downtown Vancouver, British Columbia is headed up by the non-profit Atira Women’s Resource Center, which already has a 12 unit modular building providing housing for women in town. This 21-unit housing project is for women and their families, according to cbc.ca.

Vancouver Mayor Gregor Robertson said, “We know the housing market is very difficult for people on low and fixed incomes and we urgently need creative projects built at low cost.”

The building will include seven micro units and 14 two-bedroom units with community space and retail on the ground floor, as requested by the Strathcona Residents Association. The Canadian Mortgage and Housing Corporation is contributing $600,000 to the project. Other community groups involved in the project include Vancouver Aboriginal Child and Family Services, Sheway, and Watar.

MHProNews reported May 13, 2016 another project involving affordable modular housing in Vancouver is divided into two separate sites. One on High St. will have 40-80 micro units, each with its own kitchen and bath. The other modular complex will have 40 units but with a shared kitchen. ##

(Image credit: Atira Women’s Resource Center–modular housing complex)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.