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Posts Tagged ‘millennials’

Gen Z – Manufactured Housing Independents’ Intelligence Report, Useful Research Infographic

April 10th, 2019 Comments off

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Generation Z or Gen Z are the rising group of workers and prospective younger home buyers that follow the Millennials.  While all such simplistic presentations are obviously boiled down generalizations, they can provide independents in our industry the same type of snapshot insights normally only accessible to the industry’s giants.

 

Larger firms get such reports for their teams.  Here on the Daily Business News on MHProNews, we want to make sure we provide “Delivering to Manufactured Home Independents & Investors Useful Intelligence for Your Professional Life.” ©

 

This infographic in part compares Millennials – what they refer to herein below as Gen M – with the younger Gen Z.  Definitions are provided below for both groups.

 

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As thousands of regular MHProNews know, we use a ‘wheat and chaff’ approach to people, as well as to all such data and presentations. There are doubtlessly useful insights for those hiring workers, or those who encounter a younger housing seeker.  When you understand a potential worker’s or housing seeker’s attitudes better, it is easier for you to connect professionally.

 

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That’s this morning’s morsel of intelligence for your business life, here at the home for “News Through the Lens of Manufactured Homes, and Factory-Built Housing,” © where  “We Provide, You Decide.” © ## (News, analysis, and commentary.)

 

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Current & Forecast Investing Habits of Millennials, $30 Trillion Dollar Transfer of Wealth Looms

The “Need For Quality Affordable Housing Has Never Been Greater,” Says LT

Compelling Information for Renters and Manufactured Home Owners

 

 

 

 

 

 

 

Current & Forecast Investing Habits of Millennials, $30 Trillion Dollar Transfer of Wealth Looms

January 18th, 2019 Comments off

 

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Centralization. Globalization. Immigration.

 

Those three words sum up much of what “the establishment” of both major political parties have actively or passively accepted and/or promoted for decades.  Those three words also help explain how Washington, D.C. has become more remote from the people it is supposed to serve.  Those three words help explain why wages have been stagnant for so many years.

That’s simplicity.

Those words are not considered often enough by millennials, or any other group, in the U.S. today.  But they should be pondered as part of the solution in understanding why the world’s wealthiest nation doesn’t even rank in the top 40 countries on earth in the rate of home ownership.

 

These irksome realities are educational opportunities in disguise. So too are specific items about the millennial generation, that over the next 3 to 4 decades will ‘inherit’ an estimated $30 trillion dollars.  Accenture says that $30 trillion will be the largest transfer of wealth, ever.

Morning Brew and the Visual Capitalist provided the data for the following infographic.  Note the relatively low amount being invested in housing?

Record low numbers of millennials think buying a home is a good investment—here’s why. America’s attitude towards home-ownership is changing. Only 48 percent of millennials (age 21-36) believe that buying a home is a good investment, according to the latest ValueInsured Modern Homebuyer Survey,” per CNBC on Aug 23, 2018.

CNBC provided the following infographic.

 

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With that vexing tee up, consider the VC/Morning Brew infographic on the investment habit trends of millennials.

 

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These factoids represent monumental opportunities in disguise.  What are you doing to tap it in your market(s)?

 

MostMenAppearnNeverConsideredWhatHouseIsNeedlesslyPoorAllTheirLivesHenryDavidThoreauManufacturedHomeLivingNews

For newcomers to the website not familiar with modern manufactured homes, learn more by clicking the image above or the link here.

 

As a plug, we know from experience how to attract this audience, and the others, and move them from curious to home owners.  It’s obvious from shipment data that others in our HUD code manufactured and modular home industry either don’t understand how the attraction of millennials are accomplished, or they have some other reason why they’ve left millions stuck in rentals. To learn more about our services, click here.

That’s this morning’s Manufactured Housing “Industry News, Tips, and Views Pros Can Use,” © where “We Provide, You Decide.” © ## (News, analysis, and commentary.)

 

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Production Decline Continues in November 2018

The “Need For Quality Affordable Housing Has Never Been Greater,” Says LT

Compelling Information for Renters and Manufactured Home Owners

 

 

 

 

 

 

Millennials, Student Debt, and the Overlooked Manufactured Home Option – National Association of Realtors (NAR) Report

April 6th, 2018 Comments off

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When the National Association of Realtors ™ (NAR) does research, they often get granular in their details.

 

A growing share of homebuyers are millennials, and more of them are purchasing single-family homes outside of urban areas, according to the 2016 National Association of Realtors® Home Buyer and Seller Generational Trends study, which evaluates the generational differences1 of recent home buyers and sellers,” said the NAR in a release to the Daily Business News.

NAR2018ResearchAgeGroupsHomeBuyersManufacturedHousingIndustryDailyBusinessNewsMHProNews600The NAR research also found that “although student loan debt is more prevalent among millennial buyers, they aren’t the generation with the largest student debt balances.”

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Lawrence Yun, NAR chief economist, said that while many millennials may prefer to live in an urban area as renters, the survey reveals that most aren’t staying in cities once they’re ready to buy.

The median age of a millennial homebuyer is 30 years old, which typically is the time in life where one settles down to marry and raise a family,” he said. “Even if an urban setting is where they’d like to buy their first home, the need for more space at an affordable price is for the most part pushing their search further out,” said Yun.

LawrenceYunNARShort8.3MillionHousingUnitsRisingRentsHousingPricesCuredOnlyByMoreBuildingNARRealtors2018AdultCompositionofHouseholdDailyBusinessNewsMHProNews

The numbers reflect that the percentage of millennial buyers in an urban area is declining.

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The share of millennials buying in an urban or central city area decreased to 17 percent (21 percent a year ago) in this year’s survey,” said NAR, “and fewer of them (10 percent) purchased a multifamily home compared to a year ago (15 percent). Overall, the majority of buyers in all generations continue to purchase a single-family home in a suburban area, and the younger the buyer, the older the home they purchased.”

MostMenAppearnNeverConsideredWhatHouseIsNeedlesslyPoorAllTheirLivesHenryDavidThoreauManufacturedHomeLivingNews

Every home in this collage photo is a modern manufactured home. Learn more at MHLivingNews.com.

 

The Challenges and Opportunities for MH

That NAR research could be good news for manufactured housing sellers looking to engage with millennials.

Historically, one of the two big categories of buyers that manufactured homes attracted were young households and retirees. A somewhat rough and dated industry quip captures that insight by saying that manufactured homes are sold mainly to “the newly wed, and the nearly dead.”

Millennials or Generation Y are defined by the NAR as those 37 years old and younger.

Per NAR’s research, “buyers 37 years and younger (Millennials/Gen Yers) is the largest share of home buyers at 36 percent.”

In the NAR’s report student loan debt is identified as an important barrier issue for obtaining housing. Federal Reserve Chairman Jerome Powell, in an Congressional oversight hearing, also said that student debt is a looming economic issue.

Factors such as income, credit history, down payments, and debt-to-income ratios are common parts of the formulas used by lenders in or out of manufactured housing to determine if someone qualifies for a home loan.  What that means in practical terms is that some who can’t qualify for a loan on a more expensive conventional home, will be able to qualify for financing on a manufactured home.

The GAO graphic below helps make that point, and is linked to a report that reflects that it can be a good option for wealth building, per Florida Atlantic University (FAU) researcher Ken Johnson, Ph.D.

NAR has been generally supportive of manufactured housing for some years, as a report published on MHLivingNews spotlighted about 2 years ago (see linked related report, linked at the end of this article, below).

That said, there may be no specific reason for the NAR to promote a solution – such as manufactured housing – that doesn’t directly involve Realtors™. That reality is one of several reasons why the MHProNews report linked below is so important for the industry’s potential future progress.

“Kevin…the Problem of Your Industry…”

The issues millennials and student debt is one that MHLivingNews has tackled, see the video in the article posted below.

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The video on this page includes a millennial talking about her manufactured home, a young veterinary doctor, who talks about student debt and her manufactured home, and a real estate agent who is bragging b out her manufactured home. Click the image above to see the video. https://www.manufacturedhomelivingnews.com/publisher-rebuked-doubting-doctor-skeptic-stunned/

Sharing this link –> https://www.manufacturedhomelivingnews.com/publisher-rebuked-doubting-doctor-skeptic-stunned/  <– via your operation’s social media is one easy way of boosting your firm’s outreach to Millennials and others who may be saddled with student loans or other debt in your specific market(s).

The opportunity for manufactured home sellers to tap into the largest part of the population is an important one.  While associations might in theory be useful in this process, at the end of the day, UMH President Sam Landy was correct. Landy told MHProNews that it is the individual business that must be responsible for its own marketing.

The full download of the NAR research is found linked here. ## (News, analysis, and commentary).

(Third party images are provided under fair use guidelines.)

Related Reports:

Bloomberg, HousingWire, Realtor and Fox all suggest Manufactured Homes as Important Solution for Affordable Housing in America

Two Great Laws Already on the Books NOW,  Can Unlock Billion$ Annually for Manufactured Housing Industry Businesse$, Investor$

2 Video Seminars with Tips on Reaching More Qualified Buyers, Including Millennials:

Understand, Plan, and Execute – Monday Morning Sales Meeting

Marketing, Web, Video, Consulting, Recruiting and Training Resources

SoheylaKovachManufacturedHomeLivingNewsManufacturedHousingIndustryDailyBusinessNewsMHProNews-Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.

Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

America and the Manufactured Housing Industry’s Future – It’s in Their Hands?!

January 30th, 2018 Comments off

CampusReformNYU-SOTUDailyBuisnessNewsManufacturedHousingIndustryMHProNewsInvestopedia said that, “According to the College Board, the average annual tuition at a private university is $31,231 for the 2014-2015 academic year. With room, board and fees included, the total is $42,419. That means, over four years, a typical NYU student will pay $84,212 more than the average for a private-university attendee.”

NYU is New York University.  How smart do you have to be to attend a collage like NYU?

The average GPA at NYU is 3.7. This makes NYU Strongly Competitive for GPAs. With a GPA of 3.7, NYU requires you to be above average in your high school class. You’ll need a mix of A’s and B’s, with a leaning toward A’s,” says Prep Scholar.

 

That’s useful background for understanding the video that follows.

According to their YouTube page, Campus Reform, a project of the Leadership Institute, is America’s leading site for college news.”

As a watchdog to the nation’s higher education system, Campus Reform exposes bias and abuse on the nation’s college campuses.”

Days before President Donald J Trump’s State of the Union Address (SOTU), “Campus Reform took to the campus of NYU to ask their opinions on President Trump’s State of the Union address… except the speech hadn’t happened yet.”  President Trump’s first SOTU will be Tuesday night, 1.30.2018.

 

Campus Reform also says that, “Our team of professional journalists works alongside student activists and student journalists to report on the conduct and misconduct of university administrators, faculty, and students. Campus Reform holds itself to rigorous journalism standards and strives to present each story with accuracy, objectivity, and public accountability.”

As a cross check, the Campus Reform video seemed reminiscent of a NYU edition of “Watters World.” In a pre-2016 election episode, Fox News’ Jesse Watters asked students from that same campus some basic questions about the then upcoming election.

Some did get it right, however…

 

 

Future Leaders

These are going to be some of the future leaders of America.

Regardless of a person’s political affiliation, or lack thereof, this ought to be a bracing reality check.

First, how is it possible that so many in institutions of higher learning could be so ignorant on the issues of the day?  What does it say about the state of American education?

Keep in mind that these young women and men are also among those who are discerning their next housing choices.

 

If they can be so misinformed/uninformed about politics that impact their lives and discussions, is it any surprise when research reveals they have only a dim understanding of manufactured homes?

Clearly, this isn’t to say that all young people are uniformed or misinformed.  This writer personally knows numbers of savvy young Americans.  But a nation is made up of a cross section that includes people like those shown in these videos – who often clearly need to be better informed.

Part of the Problem, or Part of the Solution?

Understanding a problem is the first step.

But the next step must be to engage those millennials and others who are so misinformed or uniformed about the kinds of matters that many of us would have considered basic during our college years.

Consider sharing links and/or encouraging your team mates to read and watch reports like these.

America and our industry are still near a tipping point.  One reason politicos can make absolutely outrageous statements on camera – and often seem to get away with it – is because tens of millions don’t know any better.

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Whining or worry won’t fix it.  The proper engagement can. “We Provide, You Decide.” © ## (News, analysis, and commentary.)

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SoheylaKovachManufacturedHomeLivingNewsManufacturedHousingIndustryDailyBusinessNewsMHProNews-Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.

Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

Millennials, Affordable Housing and Manufactured Housing, 2017 to 2018

January 1st, 2018 Comments off

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Among the larger groups of mainstream housing shoppers are millennials.

Millennials have surpassed Baby Boomers as the nation’s largest living generation, according to population estimates released this month by the U.S. Census Bureau. Millennials, whom we define as those ages 18-34 in 2015, now number 75.4 million, surpassing the 74.9 million Baby Boomers (ages 51-69),” per Pew Research, in an April 2016 report.

The National Association of Realtors ® (NAR), Zillow and others have done in depth research on those millennials.

NAR – Millennials Want Quality Affordable Homes to Buy in 2017

Unfortunately, only a tiny sliver of millennials are considering manufactured homes.

A Look at Today’s Home Buyer, Analyzing Zillow’s Consumer Housing Trends Report

When attending the normal Manufactured Housing Institute (MHI) or Manufactured Housing Association for Regulatory Reform (MHARR) meetings – to put it politely – the attendees tend to come more from the ‘getting gray hair’ age groups, as opposed to from among millennials.

That said, thousands of millennials are working in manufactured housing.  They are performing in a variety of positions that largely span the spectrum of roles, save the higher levels and C-suites.

  • Beyond sheer numbers, what do those millennials bring to the table?
  • What are their political, economic, social, spiritual, or ethical beliefs?
  • How do those play out politically, and in the workplace?

The report linked below offers some sobering indications.

Troubling New Study Reveals a Millennial Trend, Business, Economic, Political Impact 

 

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Practicing What’s Preached

MHProNews has from the outset believed that problems need to be explored, understood, and met with fixes and solutions.

So, to balanced out the concerns linked above, we published this report that industry professionals can share with their millennial colleagues and team mates.

“Death by Government,” Fascism, Communism, Socialism, ‘Big Brother,’ per Williams, Rummel and Owens

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2017, Engaging Millennials with a Millennial

For several months last year, MHProNews entered into a practical test.

Imagine for a few moments, a Bernie Sanders voter, with typical Sanders world-views.

Then imagine someone who also has an open mind, and appeared to be coachable.

Then, picture taking a millennial and walking them through some research and writing assignments that yielded lessons relevant to manufactured housing business, investors, and home owners. Also visualize research and writing assignments for such a millennial on political, and economic issues that impact the nation, and the factory-built home industry.

Julia Granowicz

Generational Buyers, Millennials, Boomers & Manufactured Homes

Micro Solar Mods for Millennials

Economic Freedom, Millennial Considers Founders Through Lens of Ron Paul, Walter Williams, Milton Freidman

Certain Voices are Pushing It – Would Universal Income Help or Hurting Americans?

Understanding Income Volatility

America, Manufactured Housing & Debate Over Minimum Wage$

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Featured image credit, HUD. Click above to see DBN report.

Vicious Cycle of Entitlement, Addiction and Keeping the Sick, Sick

2018, 2020 Campaigns Underway, Bernie & Jane Sanders, Scandals, and Democratic Party Rebranding

 

Food Stamp Enrollment Down, Employment Up and Industry Opportunities Growing 

MH Estates – Manufactured Housing, Community Sector, Reimagined

Energy Secretary Rick Perry, the Law of Supply and Demand

Life After Hurricane Irma…

Note that it was in the aftermath of Irma, for reasons professionals ought not disclose, that this millennial test came to an abrupt halt.

Life, happens.

But what the above reflects to any objective analysis is that people who are properly engaged, can be nurtured in positive, productive ways.

The long-term investment in time, talent, and treasure in the future, pays.

Q2 2018

The Daily Business News will strive to complete its look back at 2017, and look ahead to 2018 by the end of this week.

But as a teaser for later in this New Year, 2018, look for new initiatives from MHLivingNews and MHProNews to come once the ‘show season’ for manufactured housing draws to a close.

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3:1 To every thing there is a season, and a time to every purpose under the heaven:

2 A time to be born, and a time to die; a time to plant, and a time to pluck up that which is planted;

3 A time to kill, and a time to heal; a time to break down, and a time to build up;

4 A time to weep, and a time to laugh; a time to mourn, and a time to dance;

5 A time to cast away stones, and a time to gather stones together; a time to embrace, and a time to refrain from embracing;

6 A time to get, and a time to lose; a time to keep, and a time to cast away;

7 A time to rend, and a time to sew; a time to keep silence, and a time to speak;

8 A time to love, and a time to hate; a time of war, and a time of peace.” Ecclesiastes 3:1-8 (Bible Hub, KJV).  ## (News in review, 2017, millennials, analysis, commentary.)

## (Manufactured Home Marketing-Sales-Management, 2017 Monday Morning Sales Meeting Recaps, analysis, commentary.)

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Understanding Income Volatility

August 22nd, 2017 Comments off
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Featured image credit, Investment News, MHProNews.

40 percent of American households make less than $25,000 annually in 2015, according to numbers from the National Wage Index.

A recent report by Pew Research found that income volatility – fluctuation in income whether monthly, annually, or both – affects those with lower incomes more than others.

Income volatility, for the purpose of the Pew Research study, was defined as those with variances in their year-over-year income of at least 25 percent. That variance could be either in the form of gains or losses.

The study found that income volatility spreads across every demographic group.  It affected 43 percent of families, as of 2011.

A similar report from the JPMorgan Chase Institute found that on average, 55 percent of people experience a 30 percent change in income on a month-to-month basis.

Those with the lowest incomes – often working minimum wage and other low-wage hourly jobs – saw a 30 percent change at minimum, said Forbes.

Seventy-two percent of respondents from households with stable income said they did not experience any shortfalls in 2015, compared with 64 percent of those from households with income gains and 63 percent from those with losses. Similarly, families with stable income in 2015 were more likely than those with volatile income to report that they had savings and that their household probably or certainly could come up with $2,000 for an unexpected need,” per Pew Trusts.

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Image credit, Pew Research Trust.

For many of those making less than $25,000 each year, one of the main reasons for month-to-month and year-over-year income volatility is due to the nature of hourly jobs. Sometimes there is more work than others.  That’s especially so for seasonal jobs, and ones that rely on tourism, among others.

For those with an hourly rather than a salaried job who take a sick day or leave of absence for a family emergency, they can lose a significant amount of income.

When my son was sick, I had to stay at the hospital with him, so I couldn’t go to work; my husband had to stay home with our twin babies, so he couldn’t work. Here’s the problem: neither of us had paid sick leave, so we lost hours on the job, and we lost pay, too. The result was we could not afford to pay our rent on time, nor our light bill. From there, we became homeless,” per such a worker’s testimony to Congress in 2014, per Forbes.

It can be hard for people working low-wage jobs to work their way out of poverty.  If they have relied on government or state assistance programs like SNAP (food stamps), Section 8 housing, and others that seem like a plus are actually like flypaper.  They may harm chances for economic freedom.

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Actively retired Rev. Donald Tye, Jr. has told MHProNews that for years, the black community often pulled together to keep members from buying into those programs.  Over time, the steady promotion of federal handouts eroded those efforts for self-reliance. As a Masthead post explained, whatever you subsidize, you tend to get more of it.

76 percent of Americans are living paycheck-to-paycheck, per CNN Money.

In 2015, the typical household with an income loss had $1,550 in savings, and the typical household with a gain had $3,000. By comparison, the typical family with stable income had $5,500 saved,” per Pew Trusts.

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Image credit, Pew Research Trust.

On the lower end of income, one expensive emergency – car repair, hospital trip, or similar – could easily wipe out most or all of those savings for low income citizens.

This is clearly represented in the “Worst Case Housing Needs2017 Report to Congress” by the Department of Housing and Urban Development (HUD). The report found that there are 8.3 million people who are either spending more than half their income on rent, are living in substandard conditions, or both.

WorstCaseHousingNeeds2017ReportCoverCreditsHUDDailyBusinessNews

Featured image credit, HUD.

Why a Minimum Wage Hike Won’t Fix the Problem

Daily Business News readers already know that raising the minimum wage may cause an initial increase in income, but historically fails to provide the relief backers believe it will bring.  The solution? Per experts, applying the law of supply and demand.

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While the president’s economic proposals are controversial to some, they’re based upon pragmatic concepts of protecting and advancing U.S. businesses, and workers through an application of the law of supply and demand; as well as risk and reward. To learn more about documented results, scroll to the spotlight market feature, in the Daily Business News report, linked here.

IncomeVolatilityGainsandLossesCreditPewChartableDailyBusinessNews

Image credit, Pew Research Trust.

How Manufactured Housing Could Make an Impact

These nagging woes could find some measure of a free-market solution through manufactured housing.

With the affordable price-point of manufactured housing – especially in comparison to rents, which are through the roof and completely out of reach for many – people may have an easier time making it month-to-month.

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From the Government Accountability Office’s report on manufactured housing. Click the graphic above to download.

As HUD Secretary Carson and Tye have repeatedly pointed out, affordable home ownership boosts household wealth. That in turn improves sustainability in the face of income volatility.

HUDCashManufacturedHousingIndustryDailyBusinessNewsMHProNewsPixabay

A new expose sparked by a federal official’s comments is found with quotes and comments from industry professionals, Dr. Carson and Rev. Tye.

But HUD’s Pam Danner and her colleagues have not been applying the “enhanced preemption” that could lead to more low-income and other Americans gaining access to manufactured homes in more urban areas.  For a new report, see the video with Danner and related industry commentary and analysis, at this link here.

With households already struggling to make ends meet, income volatility places yet another burden on families’ attempts to create a financial buffer,” per Pew Trusts. ##  (News, analysis.)

(Image credits are as shown above, and when provided by third parties, are shared under fair use guidelines.)

JuliaGranowiczManufacturedHomeLivingNewsMHProNews-comSubmitted by Julia Granowicz to the Daily Business News for MHProNews.

 

 

 

 

Generational Buyers, Millennials, Boomers & Manufactured Homes

August 8th, 2017 Comments off

GenerationalBuyersManufacturedHousingIndustryNewsMHProNewsNew research spotlights the gaps and differences between the various generations, and how manufactured housing could potentially tap into those opportunities.

Many desire to move from renting to owning, but often struggle to find that a real possibility in the current site-built market. The manufactured housing industry can offer a solution to that problem,” said millennial Lindsey Bostick, to our sister publication MHLivingNews.

In 2017, over half of the individuals and families looking to purchase a home will be first-time home buyers – and of that 52 percent, roughly 61 percent will be under the age of 35.

Unfortunately, the slowly recovering economy, stagnant wages, and rising home prices have forced too many people to believe that buying a home is out of reach.

Millennials have an average annual income of $40,581. That’s 56 percent ($10,090) less than the baby boomers before them were making at the same point in life.

That, say some experts that are not tuned into manufactured housing, has left many unable to save enough for a down payment on a traditional home as the market prices for new and existing homes continue to rise.  What those housing advocates miss is profiled in a report, linked here.

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Today’s manufactured homes can look and live like a conventional, site-built house, and can be half the price of new construction. Additionally, many manufactured homes are Energy Star rated, so they are more efficient than older, existing homes,” the university-graduated Bostick said.

Manufactured housing presents a unique opportunity for millennials looking to buy a home – yet many don’t consider the option due to outdated information being spread by mainstream media as fact.

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2017 Home Buyers Break-down Chart Credit, NAR, posted on MHLivingNews

A recent Daily Business News article took a look at another study, which found that even renters are being priced out of their homes, making the need for affordable housing all the more immediate.

One of the largest populations to look towards manufactured housing is retirees – who according to the U.S. Census Bureau – are the population with the lowest income with $33,800 in annual income.

Things Are Not Always How They Appear At First Glance

However, due to underreporting of incomes that is the result of not counting essential revenue streams – such as retirement accounts and pensions – boomers may be doing better than was thought.

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Generations by year chart, Credits – Dallas Morning News, MHLivingNews.

The median U.S. household 65 or older earned $44,400 in 2012, those data show, a figure 30 percent higher than the median given in the census’s Current Population Survey from that year.”

By adjusting the data provided by the U.S. Census Bureau with information provided by administrative income records, researchers found there was a more than $10,000 difference between what was reported to the Census Bureau through surveys, and what the true average annual income for retirees (age 65 and older) is, per Newsmax.

This is also seen by those who work in the manufactured home industry.  People of all ages and income levels – including well off retirees – in thousands of cases every month decide to go with a more affordable housing option.


The median wealth of Americans 62 and older leapt 40 percent in just a generation, a St. Louis Federal Reserve analysis found—but the same time, from 1989 to 2013, the typical net worth of younger families plunged, by 31 percent for the middle-aged and by 28 percent for families younger than 40.”

Many of these facts dovetail with manufactured home lender research on MHProNews’ August 2017 featured articles and reports, see that fast-paced lender’s video seminar, linked here.

The income gap between millennials and retirees is growing. The prices of traditional housing continues to creep higher and higher.  Manufactured housing offers – as savvy professionals know – an opportunity for people of all incomes to save on housing costs, and still become a homeowner. # # (News.)

(Image credits are as shown above, and when provided by third parties, are shared under fair use guidelines.)

JuliaGranowiczManufacturedHomeLivingNewsMHProNews-comSubmitted by Julia Granowicz to Daily Business News on MHProNews.

 

 

Sunday Morning Weekly Recap Manufactured Housing Industry News July 23rd to July 30th, 2017

July 30th, 2017 Comments off

MHProNewsHomePage610.2017IpadManufacturedHousingIndustryReportsRecapResearchData6182017Our theme for this month: July Justice 2017 – MH Billionaires, Millionaires, and You  Our featured articles will be available on the MHProNews.com home page. Our May theme will be available mid-week this week.

 To see the line-up of over 2-dozen featured articles for this month, along with the headline commentary, please click the link above.

Manufactured, modular and prefabricated home professionals know that how a home got to its location should not define a person or their dwelling.

What the Daily Business News spotlights day-by-day are the tragedies, triumphs and struggles for acceptance of the obvious solution for millions for the growing affordable housing crisis in the U.S. and beyond.

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When you read the lineup for the month found on the home page, you can reflect on another motto as you chart your own professional path ahead: “We Provide, You Decide.”  ©

 

What’s New On MHLivingNews

Rising Renters Nation, Pew Research, Overlooked Affordable Home Ownership Solution, plus Infotainment Videos
Separating Fact, Fiction and Using Correct Factory-Built Home Terminology


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What’s New On MHProNews

July 28th, 2017

 

July 27th, 2017

 

July 26th, 2017

 

July 25th, 2017

 

July 24th, 2017

July 23rd, 2017

 

Report – How Short is the Attention Span of Millennials for Video Ads?

July 21st, 2017 Comments off

MillennialVideoAdsCNBCPostedDailyBusinessNewsMHProNewsAdvertising to millennials?

Get right to it, says a new report. But there is a catch, as you’ll see at the end of this news brief.

The length of time of an episode or a viewing period is really important and has got to be short, otherwise you just won’t keep the attention of millennials,” comScore CEO Gian Fulgoni told CNBC’s “Squawk Alley.”

If the data is accurate, that would mean that advertisers will have to make their case in much less time than the traditional 30 or 60 second ad that marketers are used to making.

The study also says that 4 out of 5 millennials are using Snapchat.

Fulgoni notes that Facebook is copying some of Snapchat’s more popular features.

What the Study Doesn’t Say

What the study doesn’t say is that this large and growing target audience for home buyers won’t view a longer video, news report, or movie.

It’s ads that have to be hyper focused.

This growing, younger generation is still very capable of reading and tuning into video or other information and entertainment that is much longer.  Who says?  Manufactured home retailing and community professional, Tom Fath.


Thus, the need for real-life ‘story telling’ in video, or in stories. MHLivingNews.com and has been tuned into the value of that for some years. ##

(Image credits are as shown above, and when provided by third parties, are shared under fair use guidelines.)

SoheylaKovachManufacturedHomeLivingNewsManufacturedHousingIndustryDailyBusinessNewsMHProNews-Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.

 

The Latest Report on Credit Scores; and What It Means

May 30th, 2017 Comments off

CreditScoresWhichWayManufacturedHousingIndustryMHProNewsNew numbers out show that under the guidance of the Trump Administration, the nation’s economy is finally recovering from the recession.

According to the Daily Caller, Americans credit scores notched a record high this spring in conjunction with a decline in the share of U.S. consumers that are deemed to be high-risk borrowers. The average credit score hit 700 in April, the highest level since 2005. Also of note, the number of customers classified as the riskiest borrowers with a credit score below 600 make up just 20 percent of borrowers. This number is down from 25.5 percent seven years ago.

Additionally, about 6 million Americans will have bankruptcies removed from their credit scores within the next half decade, according to a report from Barclay’s PLC.

The increased scores represent reflection of the improving U.S. economy and a sign that customers are recovering from the housing crisis.

 

Progress…and Challenges?

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A look at the progress of the Trump Administration. Credit: CNS News.

Per Newsmax, there is some concern among economists that old spending habits are coming back, but the economy is in much better shape and home loans are not being handed out like so much free candy, which was the bane of the Great Recession.

Some of us are worried that consumers are going back into old habits, but the U.S. consumer is in a much different position before the financial crisis and even before in the late 1990s,” said Ryan Sweet, an economist with Moody’s Analytics.

An important question is also posed: are consumers getting into the kinds of debt trouble that lead to recessions?

Consumers now owe roughly $12.73 trillion to banks and other lenders for mortgages, car loans and credit card spending, according to the New York Federal Reserve. That exceeds even the total before the last financial crisis.

While economists feel that a consumer’s willingness to borrow is good, as it shows their confidence in their financial future, economists also see three main stress points: auto loans, credit cards and — to a greater extent but for different reasons — student loans.

If it’s not a tool you can use to build stability and long-term net worth, debt leads to more problems than it can solve,” said Todd Christensen, a credit counselor with the nonprofit organization Debt Reduction Services.

 

What Does This Mean for “Generation Buy?”

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Avocados stopping home buying? Credit: Daily Caller.

Research from the National Association of Homebuilders (NAHB), the National Association of Realtors (NAR), and others, shows that millennials are likely to continue having trouble coming up with a down payment for a site-built home largely because of student debt.

This provides a huge opportunity for the manufactured housing industry to position itself as a viable option.

Many of the challenges and desires of millennials read like a list tailor-made for modern manufactured homes. Greener, more affordable, a choice of sizes, styles and customizable floor plans.

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Johnathan Smoke. Credit: Move.com.

Millennials “represent an ‘Oh, shift’ moment in housing,” said Jonathan Smoke, chief economist for Realtor.

Many desire to move from renting to owning, but often struggle to find that a real possibility in the current site-built market. The manufactured housing industry can offer a solution to that problem,” said millennial Lindsey Bostick of Bostick Homes.

Bostick has lived in several kinds of housing, and now is a manufactured homeowner herself, so she knows.

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Image credits, Lindsey Bostick, Inside MH Road Show, home photo, Sunshine Homes and ManufacturedHomes.com.

Today’s manufactured homes can look and live like a conventional, site-built house, and can be half the price of new constructionAdditionally, many manufactured homes are Energy Star rated, so they are more efficient than older, existing homes,” the university-graduated Bostick said.

For more on millennials and their desire for quality, affordable housing, click here. ##

(Image credits are as shown above, and when provided by third parties, are shared under fair use guidelines.)

 

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RC Williams, MHProNews.

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

 

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