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Patrick Industries-Manufactured Housing Supplier-PATK Investor Relations Spotlights Manufactured Home Industry Challenges, Opportunities

May 30th, 2019 Comments off

 

PatrickIndustriesLogoPATKirManufacturedHousingSupplierSpotlightsManufacturedHomeIndustryChallengesOpportunitiesMHProNews

It has been some times since the Daily Business News on MHProNews took a look under the hood at Patrick Industries.  Patrick (PATK:NASDAQ) is a supplier to the RV, Marine, Manufactured Housing, and other segments of the broader Housing Industries. Their Investor Relations (IR) package is a useful resource in understanding that firm.  But it is also useful in understanding the true picture of the state of manufactured housing, in the context of a broader view of the economy, and other industries, as they compare or relate to manufactured homes potential.

 

This report will be done primarily through slides, from the Patrick IR package.  Some commentary are on select slides, with more below and linked.

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Patrick has facilities positioned close to most major manufactured housing markets. Note that MHProNews has no position in PATK, and is not commenting on them as an investment per se. PATK is one of the companies MHProNews tracks in its evening market report.

USEconomicFundamentalsPatrickIndustriesManufacturedHousingIndustryMHProNews

Patrick is not alone to point to the robust economy, notably taking off since the election of President Donald J. Trump. These are positive background facts that ought to point to far more robust manufactured home (MH) sales. Why isn’t MH doing better?

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While RVs and automotive have both taken a dip, there are factors at play in those industries that don’t always apply to manufactured homes. RVs are a ‘luxury’ item for most. Manufactured homes are more commonly purchased as primary housing, or as a secondary home. During an affordable housing, why would RVs outperform MH?

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Note that Clayton Homes, 21st Mortgage, other Berkshire Hathaway connected brands, and the Manufactured Housing Institute (MHI) have been repeatedly invited to comment on, clarify, or refute concerns we have raised in reports like the one linked below.

 

SmokingGunEvidenceOfAntiTrustMonopolisticCollusionMoatClaytonHomesKevinClayton21stMortgageTimWilliamsWarrenBuffettMHLivingNewsMHProNews

In a series of direct quotes in context, a document from 21st Mortgage signed by Tim Williams, and video recorded comments by Kevin Clayton, these all line up to demonstrate how independent retailers, communities, and producers – among others – where purportedly harmed by action that could be deemed an antitrust violation. Why hasn’t Allen told his readers how that cost them money? https://www.manufacturedhomelivingnews.com/bridging-gap-affordable-housing-solution-yields-higher-pay-more-wealth-but-corrupt-rigged-billionaires-moat-is-barrier/

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While the video below doesn’t mention antitrust, it does specify several other federal issues that Clayton Homes, 21st Mortgage Corp, and Vanderbilt Mortgage and Finance (VMF).  Views on this video have more than tripled since it was first promoted by MHProNews.

 

 

Those in the Knoxville metro and Arlington, VA have routinely declined doing so in the past two years, although prior to that, they used to reply promptly to MHProNews inquiries. Why the change?  Were the questions too uncomfortable?

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In 1998, manufactured homes (MH) outsold RVs by some 3 to 2. In 2017, RVs outsold MHs by some 5 to 1. RVs recovered far more quickly from 2008. The facts raise questions. One, is the effectiveness of MHI as the post-production or ‘umbrella’ association in the country. The other question is more sobering. Has Buffett-Berkshire “Moat” strategies kept manufactured home production at historically low levels to allow a few big boy brands to consolidate others at a discounted ‘value’ by MHI insiders?

MHARR Launches “Fighting Discriminatory Zoning Mandates” Manufactured Housing Project

MHARRshipmentProductionMarch2019ManufacturedHousingReportMHProNews

While MHI in their monthly shipment report doesn’t deny the decline, neither are they addressing the underlying causes, nor have they proposed a remedy via their messages to the industry. Why not?

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From the early days of this publication, MHProNews featured content from state associations and both national trade groups.  These sources did not always agree with each other.  That was part of the origin of our phrase, “We Provide, You Decide.” MHProNews provided the comments of MHI, the Manufactured Housing Association for Regulatory Reform (MHARR), and members of MHEC – the Manufactured Housing Executives Council, made up of the bulk of state associations.

 

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MHI, and Berkshire brands were among those that once sponsored this website.  Perhaps due to our questions and reports, they stopped sponsoring and advertising on MHProNews, which is their right. What is not their right are allegations that they obliquely organized a boycott to discourage sponsorship of this site, if true, that could be an antitrust violation.

But as or more important is why would the Arlington, VA based MHI trade group do so, when we were a multiple year MHI member? Why did those who previously praised our work, turn against us? Given that the thrust of our effort for years has been focused on practical solutions for sustainable, ethical manufactured home industry growth, does that provide an insight on the motivations for the Omaha-Knoxville-Arlington axis’ efforts to marginalize MHProNews?

Why doesn’t MHI have this video below, first shown on Fox Business, prominently on their website?

 

 

Rephrased, are these additional pieces of evidence that Berkshire, Knxoville metro based Clayton Homes, 21st Mortgage, and some key MHI members working to suppress the industry’s performance?

That is a logical conclusion is that our reports could led an open-minded researcher to conclude.

Quotes that often come from past or present MHI members – like those that follow – would support that contention.

 

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MarkWeissDTSQuoteManufacturedHousingAssocRegulatoryReformMHARRDailyBusinessNewsMHproNews

Allen has pointed out the obvious, that MHARR is a sponsor of our website. But that’s out in the open, MHARR has banner ads here. What Allen fails to mention is that MHI used to sponsor MHProNews too. Our coverage has been based upon our LLC’s own research and work, without favor.

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MHProNews looks at the facts, considers the sources, and follows the evidence. MHI earlier last year, and for years before, MHI routinely replied promptly to all inquiries. But since we’ve spotlighted the problems and concerns, they’ve gone silent. Why? If the facts are on their side, why not make offer a cogent explanation?

FollowThe MoneyPayMoreAttentionToWhatPeopleDothanwhatTheySaySpySea72MartyLavinYachtManufacturedHousingINdustryProMHProNews

Ask yourself. Do these Marty Lavin dictums apply in the case of concerns that MHI is posturing effort, but failing to deliver what they claim, in order to promote industry consolidation that benefits a few at the expense of the many?

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Never forget that even during medieval times, castles and their moats were in fact breached.

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The full Patrick presentation is available as a download from this link here.

 

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News has been described as the first draft of history. That’s today’s latest edition to the manufactured home industry’s turbulent history, what we’ve dubbed: “News through the lens of manufactured homes, and factory-built housing” © where “We Provide, You Decide.” © ## (News, analysis, and commentary.)

 

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To report a news tip, click the image above or send an email to iReportMHNewsTips@mhmsm.com – To help us spot your message in our volume of email, please put the words NEWS TIP or Comments or Letter to Editor in the subject line.

NOTICE: You can get our ‘read-hot’ industry-leading emailed headline news updates, at this link here. You can join the scores who follow us on Twitter at this link. Connect on LinkedIn here.

NOTICE 2: Readers have periodically reported that they are getting a better experience when reading MHProNews on the Microsoft Edge, or Apple Safari browser than with Google’s Chrome browser. Chrome reportedly manipulates the content of a page more than the other two browsers do.

(Related Reports are further below. Third-party images and content are provided under fair use guidelines.)

1) To sign up in seconds for our MH Industry leading emailed news updates, click here.

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To see a sample of our emailed news update, click here. To sign up for the factory-built home industry’s #1 headline news, click here or the graphic above.

2) To pro-vide a News Tips and/or Commentary, click the link to the left. Please note if comments are on-or-off the record, thank you.

3) Marketing, Web, Video, Consulting, Recruiting and Training Re-sources

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted 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.

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Shocking, True State of the Manufactured Housing Industry, plus Solutions for Profitable, Sustainable Growth – May 2019

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“The Illusion of Motion Versus Real-World Challenges”

MHARR Releases Study Recommending Independent Collective Representation for Post-Production Sector

 

 

 

 

 

 

 

Aging in Place Harms Millennial Home Buyers, Says New Video and Report – MHVille Opportunity or Obstacle?

February 12th, 2019 Comments off

LouisTenenbaumHousingAdvocateMDAgingInPlaceHarmsMillennialsSaysCNBCFreddieMacHarvardJCHSManufacturedHousingOpportunitesObsticalsMHProNews

CNBC and Freddie Mac have released new information that claims that more seniors “aging in place” – not downsizing or selling their homes – is complicating the housing market for millennials and other buyers.

 

CNBC said, “As more older Americans ‘age in place,’ millennials struggle to find homes,” was Diana Olick’s headline, here were her top line bullets yesterday.

  • With more seniors than ever aging in place and choosing not to sell the family home, an estimated 1.6 million fewer properties are now available in a market already experiencing a critical shortage, according to Freddie Mac.
  • That is about the same number of new single-family and multifamily housing units built each year.
  • That stay-put trend is crashing into the rising demand for housing from the huge millennial generation: fewer homes for sale will continue to put upward pressure on already overheated home prices.
  • There’s a stalemate,” said Jane Fairweather, a longtime real estate agent in Bethesda, Maryland. “We can’t get enough housing for the couples who want to put their kids in good public school systems.”

 

Question – Follow the Facts and Evidence – Compare and Contrast

Freddie Mac’s estimate for the housing shortage is much smaller than the estimates from the National Low Income Housing Coalition (NLIHC) and the National Association of Realtors (NAR) chief economist, Lawrence Yun, Ph.D. NLIHC said that there is a 7.2 million unit shortage in their “GAP” report, while NAR’s Yun said that some 8.3 million units are needed.

 

 

 

By contrast, “We believe the additional demand for homeownership from seniors aging in place will increase the relative price of owning versus renting, making renting more attractive to younger generations,” said Sam Khater, chief economist at Freddie Mac, which CNBC’s report said estimated the current market needs about 2.5 million more homes to meet demand.

That means that NLIHC and NAR see it quite differently than Freddie Mac on this issue.

But Olick’s report – linked here – noted that 64 year old Louis Tenenbaum, a housing advocate in Kensington, Maryland – who himself is preparing to age-in-place – cited data from Harvard’s Joint Center for Housing Studies (JCHS) on the topic. Tenenbaum said that 63 percent of the estimated $383 billion spent on remodeling each year is among people over 50 years of age, per the JCHS.

That remodeling figure should once more give manufactured housing professionals pause. Imagine, $383 billion spent on remodeling alone in 2018. That dwarfs the estimated $7.62 billion total spent on all new manufactured housing in 2018.

Or another way to consider this is that the $1,664,587,000,000 spent on new and existing conventional housing in 2018, plus the $383 billion the JCHS states was spent on remodeling, mean the combined spending on construction and remodeling exceeds $2 trillion a year in the U.S.

More specifically, the estimated total is $2,047,587,000,000.

Manufactured housing professionals, investors and affordable housing advocates, this is one more wake up call.

 

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Thousands of professionals are taking the path of least resistance, day-by-day.  But the same old, same old, yields the same old results.

Many are advertising for and getting ‘the mobile home buyer,’ and many of those – after decades of ‘easy financing ads’ are of the belief that financing on a new manufactured home is easy. Not so. Which explains the scores of turn-downs and many loans that don’t close because the down payment required was too much for a potential buyer to raise.

By contrast, the approval rates on conventional housing is reportedly higher, in part because the prospects are better qualified in the first place.

As a plug, keep in mind that MHProNews’ consultant, L. A. ‘Tony’ Kovach has developed proven marketing and sales processes that attract and convert well qualified shoppers who consider a conventional home into buyers of manufactured homes. For more on business development services, click here.

To learn more about the factors holding manufactured housing back from its true potential, see the related reports, below the byline and notices that follow. That’s this morning’s “News through the lens of manufactured homes, and factory-built housing” © where “We Provide, You Decide.” © ## (News, analysis, and commentary.)

 

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To report a news tip, click the image above or send an email to iReportMHNewsTips@mhmsm.com – To help us spot your message in our volume of email, please put the words NEWS TIP in the subject line.

NOTICE: You can get our ‘read-hot’ industry-leading emailed headline news updates, at this link here. You can join the scores who follow us on Twitter at this link. Connect on LinkedIn here.

NOTICE 2: Readers have periodically reported that they are getting a better experience when reading MHProNews on the Microsoft Edge, or Apple Safari browser than with Google’s Chrome browser. Chrome reportedly manipulates the content of a page more than the other two.

(Related Reports are further below. Third-party images and content are provided under fair use guidelines.)

1) To sign up in seconds for our MH Industry leading emailed news updates, click here.

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To see a sample of our emailed news update, click here. To sign up for the factory-built home industry’s #1 headline news, click here or the graphic above.

2) To pro-vide a News Tips and/or Commentary, click the link to the left. Please note if comments are on-or-off the record, thank you.

3) Marketing, Web, Video, Consulting, Recruiting and Training Re-sources

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted 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.

 

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Former Manufactured Housing Institute President, Manufactured Home Owners, Urban Institute, and You

“The Illusion of Motion Versus Real-World Challenges”

 

 

 

 

 

HUD’s $2+ Billion Grants, Manufactured Housing Institute, Manufactured Housing Association for Regulatory Reform, & MH Opportunities Galore

February 11th, 2019 Comments off

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The U.S. Department of Housing and Urban Development (HUD) announced on Friday, February 8, 2019 over $2 billion dollars in new grants.  Their full, official statement will follow below.  It holds significance for manufactured housing on a variety of levels.

 

Why?  Because there are a wide range of programs and opportunities that manufactured housing could be tapping into.  One might say that there are “opportunities galore” for affordable manufactured home professionals and investors.

To set the stage of the HUD Release, it is worth noting that the over $2 billion dollars in grants would be be more than 25% of all HUD Code manufactured homes sold in 2018.

 

With the final 2018 production and shipment reports now in, it is known that manufactured housing finished the year with well under 100,000 new HUD Code manufactured home shipments (96,555).  About a year before, the Arlington, VA based Manufactured Housing Institute (MHI) had estimated the year would finish at some 107,000 thousand new units shipped.

Four years ago, MHI President Richard ‘Dick’ Jennison pledged on a video recorded statement before dozens of industry professionals at the 2015 Louisville Manufactured Housing Show that the manufactured home industry could achieve 500,000 new homes produced.  More details on that are available at the linked text/image box below.  But recall that in the early 1990s, in 3 years, manufactured housing production more than doubled. There is more capital, and more technology available today than there was then.  There is also arguably more demand for affordable housing today than at that time.

Put differently, MHI’s Jennison was not wrong in saying that the 500,000 new home shipments total could be achieved. That would deductively imply that in markets like yours, sales could rise by over 500%.

 

MHI CEO Dick Jennison’s Pledge – 500,000 New Manufactured Home Shipments

 

In 1998, the industry hit its last high-water mark of over 372,000 new HUD Code manufactured homes built and sold.  In the pre-HUD Code mobile home era, factory builders approached 600,000 new units for 2 years.

Both major trade groups – the Washington, D.C. based Manufactured Housing Association for Regulatory Reform (MHARR) and MHI have noted in various statements the quality of today’s manufactured homes.  That is a point of agreement between the two national trade associations.

There is an industry blogger who periodically confuses – by intent or accident – the nature of the two oldest national manufactured housing trade groups.  The difference is significant, and the Daily Business News on MHProNews will turn to what each association says about itself for the distinction.

The Manufactured Housing Association for Regulatory Reform is a Washington, D.C.-based national trade association representing the views and interests of independent producers of federally-regulated manufactured housing.” That statement by MHARR was on their last press release to MHProNews and is what their releases have stated for years. A 501c3 non-profit group must state their mission, it isn’t in principle a matter of conjecture.

What does the MHI say about itself?

The Manufactured Housing Institute (MHI) is the only national trade organization representing all segments of the factory-built housing industry. MHI members include home builders, retailers, community operators, lenders, suppliers and affiliated state organizations,” is what the MHI about us page states.

A press release by MHI public relations staff member Patti Boerger said, “MHI is the only national trade organization representing all segments of the factory-built housing industry.  MHI members include home builders, lenders, home retailers, community owners and managers, suppliers and others affiliated with the industry.  MHI’s membership also includes 50 affiliated state organizations.”

Rephrased, MHARR represents producers of HUD Code manufactured homes.  MHI represents producers too, but also state that they represent the “post-production” sectors of the industry.  As a related point, since that 2016 release by Boerger quoted above, 2 state community association broke ranks with MHI, and in 2018 launched a national community-owner focused association. That group is The National Association of Manufactured Housing Community Owners (NAMHCO).

Those are facts, facts, facts – including what the various trade groups have said about themselves.  It should be noted that there are modular housing or commercial construction, and systems building trade organizations too.  But those noted above are specifically engaged in manufactured housing, with MHI alone claiming to do even more by including the phrase “all segmentsof factory-built housing.

 

HUD’s Release, Data, Followed by Analysis

On Friday, the Department of Housing issued the following release. It linked to the list immediately below, where the featured image and map at the top of this column were from.

See for yourself just how many – or few – projects involve manufactured housing?  Per HUD, by state and territories.

 

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Here is the full HUD release from Friday, February 8, 2019.  The commentary below the HUD breakdown by state was provided by MHProNews.

 

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HUD AWARDS OVER $2 BILLION TO HELP END HOMELESSNESS

Federal grants to help thousands of homeless assistance programs nationwide

        WASHINGTON – The U.S. Department of Housing and Urban Development today awarded $202 million in FY18 Continuum of Care (CoC) Program grants to support new homeless programs across the country, including nearly $50 million to projects dedicated to assisting survivors of domestic violence, dating violence, and stalking. View a complete list of all the state and local homeless projects awarded funding.

Last month, HUD announced nearly $2 billion in CoC grants to renew funding to thousands of local homeless assistance programs nationwide.  Combined, this funding represents a record investment to support state and local efforts to reduce and end homelessness.

HUD Secretary Ben Carson made the announcement in Akron, Ohio today during a visit to the Battered Women’s Shelter, a grantee that received funding and will use it to house domestic violence victims who are on the verge of homelessness.

“Today we make another critical investment to those persons and families living in our shelters and on our streets,” said HUD Secretary Ben Carson. “These new programs will join those already on the front lines in their communities working to end homelessness.”

HUD supports a broad array of interventions designed to assist individuals and families experiencing homelessness, particularly those living in places not meant for habitation, located in sheltering programs, or at imminent risk of becoming homeless.  Each year, HUD serves more than a million people through emergency shelter, transitional, and permanent housing programs.

HUD continues to challenge state and local planning organizations called “Continuums of Care” to support their highest performing local programs that have proven most effective in meeting the needs of persons experiencing homelessness in their communities.  Many of these state and local planners also embraced HUD’s call to shift funds from existing underperforming projects to create new ones that are based on best practices that will further their efforts to prevent and end homelessness.

 

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HUD’s mission is to create strong, sustainable,
inclusive communities and quality affordable homes for all.

— end of HUD release —

 

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Collage by MHProNews, with MHI elements from their website on today’s date.

 

Manufactured housing is failing to meet the stated goals of its post-production sector staff ‘leader,’ MHI President Dick Jennison.

 

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There is an affordable housing crisis. As the links below the byline and notices reveal, top MHI staffers have been getting paid bonuses.

 

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There are numerous third-party reports and news stories in 2018 that reflected the quality, value, and need for manufactured homes.

So why is the industry underperforming?

MHI production rival MHARR laid out the facts in the report linked here and further below.

MHARR points their finger directly at MHI, as they are the post-production association side of the industry. The article above provides the final tallies and hard data.  Their article linked here and further below shares an analysis by Mark Weiss, JD, President and CEO of MHARR.

The questions are not moot.  They are germane – indeed, necessary to explore – if the industry is going to recover from its 2-decade funk. A news analysis by our publisher is linked here and among the text-image linked boxes below the bylines and notices.

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

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To report a news tip, click the image above or send an email to iReportMHNewsTips@mhmsm.com – To help us spot your message in our volume of email, please put the words NEWS TIP in the subject line.

NOTICE: You can get our ‘read-hot’ industry-leading emailed headline news updates, at this link here. You can join the scores who follow us on Twitter at this link. Connect on LinkedIn here.

NOTICE 2: Readers have periodically reported that they are getting a better experience when reading MHProNews on the Microsoft Edge, or Apple Safari browser than with Google’s Chrome browser. Chrome reportedly manipulates the content of a page more than the other two.

(Related Reports are further below. Third-party images and content are provided under fair use guidelines.)

1) To sign up in seconds for our MH Industry leading emailed news updates, click here.

ManufacturedHomeIndustry#1HeadlineNewsMHProNews

To see a sample of our emailed news update, click here. To sign up for the factory-built home industry’s #1 headline news, click here or the graphic above.

2) To pro-vide a News Tips and/or Commentary, click the link to the left. Please note if comments are on-or-off the record, thank you.

3) Marketing, Web, Video, Consulting, Recruiting and Training Re-sources

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted 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.

 

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“The Illusion of Motion Versus Real-World Challenges”

 

 

 

 

 

 

 

 

 

 

New Report – More Americans Think Bad Time to Buy, Rentals Soar. Manufactured Housing, Opportunities, Takeaways?

January 8th, 2019 Comments off

 

BuyRentManufacturedHousingIndustryDailyBusinessNewsMHProNews

It’s one more #nettlesome data-point that must make a certain CEO in Arlington, VA turn red-faced.

 

According to Fannie Mae, and CNBC,More Americans think it’s a bad time to buy a home.” What’s bad for higher priced homes, and expensive rentals should be good for manufactured homes.  Certainly, that was the case for decades.

Some bullets from the new Fannie Mae and CNBC reports.

  • The share of Americans who think it is a good time to buy a home just dropped sharply, according to a December survey from mortgage giant Fannie Mae.
  • The share of those surveyed who think home prices will go up fell 2 percentage points, and those who expect mortgage rates to drop was unchanged.
  • The share of those who said their household income was significantly higher than a year ago fell compared with November, although it was up slightly from a year ago. Consumers are, however, quite confident about employment.

Mortgage rates declined in December, 2018, from an average 4.85 percent on the 30-year fixed at the start of the month to 4.61 percent on New Year’s Eve, per Mortgage News Daily.

But the financial markets see mortgage rates rising throughout much of 2019.  That means that the December drop was just a temporary. Rates are higher than one year ago.

 

This Should Be Good for Affordable Housing Sellers, But…

These are historically trends that in decades past would have signaled a rise in manufactured home sales.  The data from the National Association of Realtors(NAR) in the graphic/chart below is useful in understanding the longer-term industry trends.

 

Figure1MobileManufacturedHomeSalesSHipmentsVsExistingingNewHouseSalesManufacturedHousingiinudstryDataMHProNews

There are a growing number of industry voices that believe that BH/CMH and MHI have by various action/inaction has kept manufactured home sales at historically low levels. Evidence? See Related Reports and videos, linked below, which quotes and cites BH, MHI, CMH, 21st Mortgage Corp, and other sources.

 

So, while manufactured housing often benefited in years gone by from rising conventional housing and soaring rents, for whatever reason one cares to mention, that is not the case this time.

 

 

To learn more about the most recent new home data in manufactured home production, click the linked text/image box below.

 

Manufactured Home Production Decline Accelerates in November 2018

 

At the very time when near-record numbers of Americans are renting, manufactured homes ought to be rolling, rolling, rolling down the road to their final destinations.

 

 

These facts bely the Manipulative Housing Institute’s (MHI) claims of promoting manufactured housing to tens of millions of potential buyers.  If so, MHI’s self-proclaimed efforts have not only failed to notably move the needle, but in recent months shipments have stalled, and in November, slipped.

It’s a trend that MHProNews has been warning industry professionals, investors, and affordable housing advocates about for months, but has signaled the possibility of this occurrence for years.

What are the causes?

Many, but it could be summed up in 3 letters, a symbol, and one word.  Failure @ P.E.P.  Failure by the Monopolistic Housing Institute (MHI) to effectively Protect Educate Promote the MH Industry with regulators, zoning, and the public at large. Attribute that failure to whatever one wishes to, but the facts remain the same.

 

MonopolisticHousingInstituteLogoMHILogoManufacturedHousingInstiutteLogoLarge

Click here or the image above to learn more.

The solution?

First, understanding the causes of the headwinds that have led the industry to this point in time.

ProblemSolvingZigZiglarFirstStepRecognizetheProblemExistsNextIsProblemOurResponsiblityProblemSolvingVeryImportantDailyBusinessNewsMHProNews

Next, action steps which obviously require leaving the status quo behind.  More on both in the articles linked herein and below.

The rental and mainstream conventional housing data should be causes for manufactured homes to roar, not snore. It doesn’t matter how the ‘powers that be‘ spin it, but the numbers don’t lie. People are entitled to their own opinions, but not to their own facts.

 

YouAreEntitledtoYourOwnOpinions.ButYouAreNotEntitledToYourOwnFactsDanielPatrickMoynihanDailyBusinessNewsMHProNews

 

That’s MH “Industry News, Tips, and Views Pros Can Use,” © at the #1 most-read resource of its kind in manufactured housing, where “We Provide, You Decide.” ©  Here, you find facts, evidence and straight talk, not double-talk or mumbo jumbo. ## (News, analysis, and commentary.)

 

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Bridging Gap$, Affordable Housing Solution Yields Higher Pay, More Wealth, But Corrupt, Rigged Billionaire’s Moat is Barrier

 

 

 

HUD Secretary Carson Visits North Carolina, POTUS to FL, Survey Hurricane Damage, Response Efforts, Federal Funds

October 16th, 2018 Comments off

HUDSecretaryNCPOTUSFLSurveyHurricanDamageResponseFederalFundsDailyBusinessNewsMHPronews

On Monday, Dr. Ben Carson, Secretary of the Department of Housing and Urban Development (HUD), joined Alex Acosta, Secretary of the Department of Labor , Senator Richard Burr (NC), Senator Thom Tillis (NC), and Congressman David Rouzer (NC-7) in North Carolina to visit areas impacted by Hurricane Florence,” said HUD in a statement to the Daily Business News on MHProNews.

 

After touring damaged areas, Secretary Carson, Secretary Acosta, Governor Roy Cooper, Congressman David Price (NC-4) and Congressman G.K. Butterfield (NC-1)  received a briefing on the recovery efforts at FEMA’s Joint Field Office,” the federal spokesperson stated.

We work for the people, the people don’t work for us,” Secretary Carson explained. “The best way to actually work for the people is to see what the people are doing, to hear from the people themselves.”

Carson subsequently was interviewed by One America Network News (OANN). Emerald Robinson spoke with HUD Secretary Ben Carson to discuss the department’s work with FEMA, federal loans, and other coordination efforts.

 

 

Meanwhile, President Donald J. Trump, the first lady Melania, and GOP Senate hopeful Governor Rick Scott visited Mexico Beach, Florida to tour the devastation left behind by Hurricane Michael.

 

 

HUD previously sent a statement to MHProNews that includes potential opportunities for manufactured and modular housing professionals in the wake of Michael, and/or other disasters, such as Florence.

 

HUD Announces Post Disaster Assistance for Hurricane Recovery

See that prior report, linked above.

These videos are also stark reminders that conventional housing can fail spectacularly in such storms, as block after block of devastation reveals. Check the related reports, further below the byline. That’s this evening’s “News through the lens of manufactured homes, and factory-built housing.” © ## (News, analysis, and commentary.)

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Related Reports:

President Donald J. Trump Visit to Manufactured Home Community, Video, Hurricane Florence Update

 

Weather Expert’s Surprising, Bombshell Statement on Tornado Deaths and Affordable Manufactured Homes

Celebrating Manufactured Housing! Protect, Educate, Promote, and “the Ground Floor”

October 15th, 2018 Comments off

 

CelebratingManufacturedHousingProtectEducatePromoteTheGroundFloorDailyBusinessNewsMHProNEws

When you or others know the truth, and act upon it, then the truth will set people free.

 

There are principles and ideals that are timeless.  The above is a paraphrase of such a principle.  What follows are also tried and true principles that when applied, can be a cause for celebration today and for years to come.

We’ve all seen articles, heard radio or watched reports on television that ‘if you had invested in company X when it first started, here is what it would be worth today.’  That’s referred to as ‘the ground floor’ opportunity.

Of course, people don’t know when something is

  • the leading edge,
  • the bleeding edge,
  • or the next big .com flop.

So, some get in on the ground floor, while others don’t.  That’s life.

Here’s a real world example of X. Amazon. Per Investopedia on Oct 10, 2018: “When Amazon first went public in 1997, its stock was priced at just $18 per share.

From that modest beginning, the online retail giant has seen its stock skyrocket, despite a rocky period during the dot-com crash. The company’s shares hit a new high of $2,050.50 a share on Sept 4, 2018, before dipping to $1,870.32 on Oct. 10.

If you had invested just $100 in Amazon’s IPO, you would have received 5 shares. What is beyond impressive is that investment would have been worth nearly $120,762 at the Aug. 31, 2018, close price of $2012.71/sh. That would yield an increase of more than 120,000% on the initial $100 investment.”

Those are impressive numbers.  But among the challenges with that kind of investment is the lack of control.  When you own your own company, and/or when you are selling for a company that rewards performance, there is a much higher degree of control over how something performs.

That’s motivation.

  • When Lawrence Yun, the Chief Economist for the National Association of Realtors says that the nation needs 8.3 million housing units, and that builders alone can close that gap, that spells opportunity.  That’s a cause for celebration.
  • This year, manufactured housing will only produce roughly 105,000 (+/-) shipments. Compare that to 20 years ago, when this industry achieved 372,000 + shipments.  The RV business grew significantly since that date, why not manufactured housing?  RVs are often a ‘luxury’ item, homes are a necessity of life.

Retailer Alan Amy said on camera that manufactured homes are the future of housing.  That’s why the billionaires are buying it up as much as they can.

 

If manufactured housing went to ten times its current sales level, it would be shipping about 1,000,000 new homes a year. Sound impossible? Even at that pace, it would take 8.3 years to fill all of the needs that Yun has said exist.  Don’t forget, the population will continue to grow too.

That sounds suspiciously like a ground floor opportunity, doesn’t it?  Only there is a twist.

This opportunity is a proven one.

What are the hurdles or road blocks?

We won’t go through every detail, there isn’t time.  But we will sum it up with three words.  Protect, Educate and Promote (PEP).  Inside and outside of our industry, those same 3 letters apply.  One must PEP inside MHVille, and PEP outside too.

 

PEPProtectEducatePromoteUnlockingMindsKeyToAdvancementMHProNews

 

PEP, Me and Thee

At a meeting of industry professionals, this writer used those words “Protect, Educate, Promote,” and people in the room lit up. I’ve never heard it put that way,’ said one corporate leader. ‘That’s a program that makes sense.’

Keep it simple, smarty. KISS.

It is my goal to give credit where it is due. That PEP came from a state association executive. He demurred when we offered to give him credit, saying its standard association thinking.

It may be standard for him, but it isn’t as clear to many others in MHVille.

Trade media like MHProNews is not a trade association. But we do similar things. Ideally, trade media is working in collaboration with trade associations and companies of all sizes to get the right words out at the right time. PEP.

The right words, properly and timely presentation are what education is all about.

  • Take the right words, and they will protect your operation.
  • Use the right words, and they will promote your operation.
  • PEP.  The right words, the right way, at the right time.
  • Then, keep repeating.

 

Celebration!

MHProNews is celebrating today the completion of its 9th year of MH trade publishing. Put differently, we are beginning our tenth year of serving manufactured home – and other factory-built housing professionals – in this fashion.

Many forget, or didn’t realize, that publishing is just part of what we do, because we offer business development services like marketing, sales coaching, recruiting, speaking that inspires people to do their best, videos, consulting, PR, content creation, and much, much more that all spells profitable business development.

But years before we began this trade media adventure, this writer was already doing business development and contract services for MH:

  • Retailers,
  • Communities,
  • Financial Services firms,
  • Factory builders,
  • Investors, and
  • Other service providers involved in manufactured housing.

 

Time, Talent, Treasure, and Vision 

When we launched this trade publication, the industry was down to two other privately owned operations that either blogged or printed items for industry professionals.

One of those two has since closed, and along with others, we tipped our hat publicly to Jim Visser. He left on his own terms. He could have sold the Journal, had numerous offers, but turned them all down. Jim had built a certain legacy. His legacy is thus intact.

The other is a monthly letter and a blog that’s often, but not always, weekly. There’s been another monthly blog too, by another duo.

After we had been publishing several years, others have jumped in, especially in the last few years.  If we can do it, they reasoned, they can too.  That’s fine.  But as their leaders have said privately, they don’t try to compete with MHProNews.  They try to cheerlead for specific causes, which is their right. We respect their rights.

But we have more visitors in a single day than others may have readers all month – or in three months. That claim is based upon third party data.  We way out perform the competition.

As one competitor put it to me privately, ‘Tony, thousands of manufactured housing pros talk in bars and restaurants about industry topics like monopoly that you alone publish.’

From a competitor, that’s a compliment.  But we don’t publish things simply to be sensationalistic.  We publish it because only the truth, followed by the correct action, will set people free.

 

Serious Research, Plus Genuine News with Analysis Equals Being #1 in MHVille 

That success formula is one that you could be doing in your market(s) too. We’ve done it with others, why not you?

When you make the case with PEP properly, then growth occurs. It’s not passive, its active.  It takes some change, but its smart change in a ground floor opportunity.  Manufactured housing done right.

Some want to do that on their own, and that’s fine.  But others realize that they are writing a check to – and/or investing their time – Google, Facebook, and other media.  They get a result.  They are in a habit, as one manufactured housing marketer frankly told me.

AllTruthPassesThrough3stagesFirstRidiculed2ndViolentlyOpposed3rdAcceptedAsSelfEvidentManufacturedHousingIndustryDailyBuinessNewsMHProNews

We have been, are, and will continue to be different.  Because feel good, cheerleading DOES NOT set people free. If cheerleading was the answer, then our industry would collectively be at a half-million or more sales a year.  Nor is it isn’t a mere cold recitation of the facts that moves minds and hearts.

People have to be met where they are, and then they have to be convinced.  That’s a process.  Processes are part of how companies like Amazon became fabulously successful.  Its a process of engagement.  That process requires good service. Happy customers. That’s training, motivation, and information combined.

The truth well told sets people free to buy what they at some level want to try. They want a home.

  • There are millions curious enough about what they may call a ‘mobile’ or manufactured home to be doing millions of internet searches every year.
  • But only a few are buying.
  • That’s opportunity in disguise.  That’s better than a ground floor, because this industry is proven.

When some 17 million cars are sold in a single year in the U.S., that tells you the potential of the automotive industry.

When RVs outsell MH by 5 to 1 today, but 20 years ago, MH outsold RVs by 3 to 2, that tells you how far MH has fallen behind.  But that spells opportunity in disguise.

We know from field experiences how to unlock those opportunities at the local market level.  We’ve been doing it for years.

Celebrate with us today, as we head into our 10th year of serving the manufactured and modular housing industry .  We take on the tough challenges, and thank the Lord, we are not only standing, but growing. Come grow with us.

My sincere thanks to all of those who have been sending messages via LinkedIn and/or in other ways for helping us celebrate our 9th anniversary of publishing what we’ve called for years, MHProNews.

But keep in mind that the original name was MHMarketingSalesManagement.com.  Those are elements of success, like PEP.

Success is routinely collaborative.  Together with our clients, sponsors and those who see the value of the truth well told, the best is yet to come.

Because the numbers tell us that we are on a very special ground floor.

MH “Industry News, Tips and Views That Pros Can Use© is more than a slogan. You are either standing still, going backward, or moving ahead.  “We Provide, You Decide.” © ## (Manufactured housing related marketing & sales news, analysis, and commentary.)

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By L.A. “Tony” Kovach – for MHProNews.com.

Tony is the multiple award-winning managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

Office 863-213-4090 |Connect on LinkedIn:
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Related References:

 

Attracting and Retaining Sales Talent – Evidence and Data-Driven Potential in Manufactured Housing

Proper Planning, Manufactured Housing, Marketing and Sales, Monday Morning Meeting

 

“Family Owned,” a Formula for Outperforming “Big Boys,” Monday Morning MH Marketing Sales Meeting

 

Sustainable Success. Your Best MH Investment? Monday Morning Manufactured Housing Sales and Marketing Meeting

 

Becoming a Standout Performer, Monday Morning Sales, Marketing Meeting

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Apartments vs. Manufactured Housing, NMHC and NAR Data, Opportunities

August 18th, 2018 Comments off

 

ApartmentsVsManufacturedHomesNMHCNARDataOpportunitiesDailyBusinessNewsMHProNEws

National Multifamily Housing Council® (NMHC) and National Association or Realtors® (NAR) are the sources for bulk of the data and graphics, shown below.

 

The executive summary could be captured with a statement made by Scholastica ‘Gay’ Cororaton, Certified Business Economist (CBE), with the National Association of Realtors® (NAR).

MonthlyMedianGrossRent2016HousingTypesManufacturedHomesScholasticaGayCororatonNARDailYBusinessNEwsMHproNews

Note there seems to be a difference between NAR and NMHC data on median rents.

She said “Based on 2016 latest data, the median household income among manufactured homeowners was $43,900, about half the median household income among all homeowners.  The median household income of manufactured homeowners is about the same as the median income of all renters, at $42,500. This indicates that renters can transition to homeownership without significant change in housing expenses via ownership of a manufactured home, if other factors that homebuyers look for are also met (e.g., accessible transportation, presence of a good school, other neighborhood qualities).”

Let’s start with the age of multifamily housing rental units, which many may find surprising.

Why?

WhenWhereApartmentsBuiltNMHCDailyBusinessNewsMHProNews

Because out of 19.506 million apartment units, using NMHC data, 10.316 million were built after 1980.

CharacteristicsofAptRentalUnitsNMHCDailyBusinessNEwsMHProNews

So, over 9 million units were built before 1980, with 2.137 million units built on or before 1939.

NMHCAptMedianRentNMHCDailyBusinessNewsMHProNews

Note there seems to be a difference between NAR and NMHC data on median rents.

Cororaton’s data reveals that it would be a simple budgetary change to go from an apartment to a manufactured home.  Her data also shows the appreciation possible in a modern manufactured home.

ComparisonMonthlyPaymentsChattleLandHomeMixedVsConventionalExistingHomesNARScholasticGayCororatonDailYBusinessNewsMHProNews

By contrast, there is obviously no equity in an apartment rental.  So there’s about 225 percent more apartments than manufactured homes. Since turnover is steady in apartments, that’s a vast market opportunity.

DTIRatiosConventionVsManufacturedHomesNARSchoalsticaCororatonApartment construction is booming.

HousingAppreciationByLoanTypeManufacturedHomesScholasticaGayCororatonNARDailyBusinessNewsMHProNews

Like RVs, they are out-performing manufactured homes by a country mile.

What RV Industry’s 2018, Prior Results Reveal for Manufactured Housing

The RV report, linked above, reminds professional readers and investors that RVs trailed manufactured housing in 1998.  20 years later, they are outselling manufactured homes by some 5 to 1. See that report to learn more.  It’s opportunity in disguise for those who see it, and get it.

SunCommunitiesSUI-InvestorPageComparetoMultiFamilyHousing10ManufacturedHomeCommunitiesIndustryDailyBusinessNewsMHProNews600

Graphic, data, per Sun Communities (SUI).

There is a need for every kind of housing that exists.  Some need or want a short- to medium-term rental. But with hundreds, if not thousands, of manufactured home communities offering rentals, that too could be a market for the manufactured housing industry.

When Bloomberg, NAR and others are increasingly featuring positive news about manufactured homes, that should make investors sit up and take notice.

Bloomberg “New Home for $90,000? Manufactured Housing Is Making a Comeback” Reveals MH Media Challenge

Even high rises could be done with manufactured homes, when density is an issue. See that related report, linked below.

So manufactured homes are a common-sense choice. Millennials and others must be shown why they are a cool, even savvy, option.

IfPrettyPicturesVideosAloneWereEnoughMHIndustryWillOnlyAchieveItsGoalsByResovingItsCoreIssuesLATonyKovachMHProNews1

Learn more about the above, linked here.

Perhaps these are among the reasons why the Blackstone Group has recently entered the manufactured home space? See that in the related reports, linked below.

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media; Manufactured Home Living News (MHLivingNews.com) and MHProNews.com for business professionals and investors.

Kovach’s work has been featured in publications such as the Washington D.C.’s The Hill, Value Penguin, Chicago Sun Times, and a host of other media. He’s been involved in the manufactured home industry as a manager, high-volume retail center owner, consultant, and publisher for over 25 years. Kovach has likely interviewed more industry professionals, experts, and manufactured home owners, than anyone in U.S. news media.

 

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Blackstone Brilliantly Bets Big On Manufactured Housing, Enters Manufactured Home Communities Contest

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Fresh Facts, Figures, Future of Affordable Housing -Comparisons- Conventional Site-Built v Mobile/Manufactured Home Industry Data

“Thou Shall Not Steal,” $2 Trillion Annually Lost to Lack of Affordable Homes, Making the Manufactured Home Case

 

Warren Buffett Would be Okay With Clayton Homes Losing Money, Says Kevin Clayton – But Why?

Manufactured Housing Shipment Totals, June 2018

Skyline Champion Corp – Manufactured Homes, Modular Housing – Outlook, Opportunities, & Obstacles

July 31st, 2018 Comments off
SkylineChampionLogoPhotoIPManufacturedModularParkModelHomeDailyBusinessNewsMHProNewsThirdPartyMHProNewsLogo550-315

Slide from IR presentation. as are others below. Text graphics by MHProNews. While a design like the home shown above could, in theory, be done as a HUD Code manufactured home, the odds are that this was built as a state-code modular home. 

With almost 2 months since the combination of Skyline and Champion – producers of manufactured home, modular housing, and other forms of factory-crafted construction – has occurred, it’s an apt time to take a snapshot of the new #2 in HUD Code home industry.

 

As with several other publicly-traded operations previously analyzed on the Daily Business News on MHProNews, this first look will begin with their own internally crafted information.

skylinechapmpionSKYlogoSnapshotManufacturedModularParkModelHomeIndustryDailyBusinessNewsMHproNews598

Slide from IR presentation. as are others herein.

It is worth noting again that often useful industry insights are gained – not only for investors, but for others in the manufactured home industry – by reviewing such IR (investor relations) presentations.

SkylineChampionIRPresenationJune2018USCanadaFootprinttopTenStatesFastestGrowingMarketsDailyBusinessnewsMHproNews

The top ten states, and the fastest growing states, are shown at the right. Note that some of the fast growing states had such low shipment levels that it could skew the impression. See related reports, linked below, for more details.

These documents – properly understood – can also be useful for advocates, lenders, researchers, and public officials.

SkylineChampionSKYIRImprovingFinancingOptionsManufacturedHomeDailyBusinessNewsMHProNews598

Finance – and access to capital – is more available, especially since the Trump Tax Cut, and deregulatory changes. Those have indeed made a positive difference for the industry. That said, so far, the Duty To Serve (DTS) manufactured housing is still toe in the water, and is being protested by MHARR as insufficient and strayed from the purpose of the law established in 2008 by the Housing and Economic Recovery Act. Rephrased, there are more improvements in financing options possible. is iThe top ten states, and the fastest growing states, are shown at the right. Note that some of the fast growing states had such low shipment levels that it could skew the impression. See related reports, linked below, for more details.

Typical of such reports are mostly accurate industry information.

#2ManufacturedHousingPositionMarketShareTop8DailyBusinessNewsMHProNews

One of the driving forces that are growing in the next tier after Clayton, Skyline Champion and Cavco is Legacy Housing. They’ve grown rapidly in Texas, and are now doing the same in GA. Part of their success? Its financing, as well as other price point and specialized products.

The Daily Business News says “mostly,” as there are still times – for example, Cavco’s IR presentation – that cites information that is contradicted by other sources.

SkylineChampionSKYirStructuralAdvantagesOpportunitiesManufacturedHomesVsSiteBuiltDailyBusinessNewsMHproNews

This is arguably one of the best slides in this report, as it captures several key facts about HUD Code manufactured homes. To learn more about third party research on manufactured homes, see the recent NAR report by Scholastica ‘Gay’ Cororaton, linked here or below.

“Market for Manufactured Homes,” Scholastica “Gay” Cororaton, for Realtor University, Analysis and the Manufactured Housing Institute (MHI)

A specific example is the manufactured home community count, which matters very much to those in the community segment of the industry.

SkylineChampionirIncreasingInvestmentsByManufacturedHomeCommunitiesDailyBusinessNewsMHProNews

Commentary and analysis by MHProNews.  The community count issue is one that public companies can address without MHI help, but they would be wise to get MHI to correct their apparent error, see what their own members say, in the report below..

Frank Rolfe, Dave Reynolds, George Allen, Manufactured Home Community Controversy Continues

Hundreds of New Manufactured Home Communities Opened, But How Many Have Closed? Industry Research Result$

MHProNews is a strong believer – as are others who are forward-looking in MHVille – that accuracy in data matters.  Any given company, as well as the industry at large, benefit from accurate data and facts.

SkylineChampionIRDemograpicTrendsCostComparisionsDailyBusinessNewsMHProNews

This is another useful presentation slide, gathering some data which reflects why manufactured housing could be poised for serious growth.

 

Disclaimers

As with any source cited, or any report done by MHProNews or MHLivingNews, the relaying of information or an analysis should not be construed as an endorsement, nor its opposite.

Facts, insights and information are being conveyed for the sake of a deeper, richer understanding of the manufactured home industry in specific, or factory-built housing in general.

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Click the above to learn more or register for the event, which is unrelated to the article.

We’d also note that when we see an inaccuracy and mention it – again, using the example of the community count – that doesn’t mean that there may not be others.

We hold no stocks, nor any other positions for or against, this operation, which operates under Skyline Champion Corp. (NYSE:SKY), and is covered as part of our evening/nightly market snapshot.  Last night’s closing numbers are found at this link.

MostMenAppearnNeverConsideredWhatHouseIsNeedlesslyPoorAllTheirLivesHenryDavidThoreauManufacturedHomeLivingNews

For newcomers to the website not familiar with modern manufactured homes, learn more by clicking the image above or the link here.  The opportunities are spelled out in reverse, in the report, below.

New Home Sales Fall to 8-Month Low in June, Data Signals Trouble – or Opportunity in Disguise for Manufactured Housing?

 

Market Snapshot

Given the above disclaimers, the presentation by Skyline Champion (SKY) is one of the better ones for insights provided by publicly traded firms in manufactured housing.

SkylineChampionIRPlantsRetailOperationsIdlePlantsDailyBusinessNewsMHProNews

The chart above reflects an interesting factoid, that Skyline Champion has 7 idle plants, which rephrased, means they could in theory ramp up more quickly than some others.

While it is graphically rich, it could benefit from more photos that exemplify the full range of housing options offered.

Producers of HUD Code manufactured homes or modular housing often show the fanciest and biggest models they can.  That makes sense for showcasing potential and for giving a good first impression.

EricBelksyManufacturedHousingIndustryManufacuredHomeManufacturedHousingInstituteResearchDataAffordbleHousingMHProNewsDailyBuisnessNews575

The facts are so powerful in favor of manufactured housing, some ask, why isn’t the industry doing much better?  The answer is found in part in Smoking Gun 3.

But such reports – Skyline Champion or others – should arguably show more entry level housing too.  Why?  There are more low-to-mid range potential buyers than those at the top that may want a modular waterfront getaway.

“Why Advocates Need to Rethink Manufactured Home Quality,” Harvard, GSE, Genz, “High Satisfaction”

IR presentations have certain limitations.  Not being specialized attorneys in public companies, we claim no expertise on those legal nuances in an IR presentation.  That said, when Skyline Champion says that there is significant upside for their business, or the industry in general – with proper management – consider that an understatement.

Why?

Several tech giants have spawned or inspired leaders who have launched factory-built housing enterprises.

LawrenceYunNARShort8.3MillionHousingUnitsRisingRentsHousingPricesCuredOnlyByMoreBuilding

Collage by MHProNews.

MHProNews recently noted that Japanese based SoftBank has bet big on Menlo Park, CA based Katerra.

Billion Dollar Startup Modular Builder, Using Robotics, Could Soon Rival Clayton Homes’ Total Sales

They are only the latest higher profile move by a factory-builder to address the affordable housing crisis.

  • With approximately 8.3 million housing unit shortage,
  • and with numerous voices inside and beyond the factory-built housing world having said for years that the construction gap can’t be closed by site builders alone,
  • the upside for factory home building should be obvious.

CompareMobileHomeTrailersPastManufacturedHomesSaferMoreDurableQuoteScholasticiaGayCororationPhotoSmallPercentageDamagedDuringHUrricanesMHProNews

This snapshot has selected those slides which in our view reflects the most interesting items to the greatest number of readers. A comparison between quality concerns of manufactured homes vs. conventional housing is launched in the related report, linked below.

Investors, Heartbroken Home Owners, Site Building Giant DR Horton, and Manufactured Housing

To see the entire SKY presentation, you can click the download linked here. “We Provide, You Decide.” © ##(News, analysis, and commentary.)

(Third-party images and content are provided under fair use guidelines.) See Related Reports, linked further below.

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SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted 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.

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Winners and Losers, 5 Midwestern States, Manufactured Home Shipment Breakdown

 

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Opportunities for Savvy MHProNews – Replacement or Repair Programs for Mobile Homes or Older Manufactured Homes

July 17th, 2018 Comments off

 

OpportunitiesForSavvyMHProNewReplacementsProgramsforMobileHomesOlderManufacturedHomeOwnerCenterDaiilyBusinessNewsMHProNews

In states and local jurisdictions from coast to coast, various private or public agencies offer programs that provide grants, low cost loans, or other assistance in obtaining repairs or even replacements for aging mobile home or older manufactured housing units.

 

These types of programs routinely have income and other qualifications.  They are routinely a recognition that manufactured homes are an important resource in affordable housing efforts.  It’s interesting to note that several of these programs use the correct industry terminology, that sadly eludes many in the mainstream media. 

An example of such a program is found below, which was brought to the attention of the Daily Business News on MHProNews via a media release.

ReplaceMobileHomeswithNewManufacturedHomesMHPronews

Check with your local agencies to see what types of homes qualify for these programs.

Before diving into the details of that specific program and release, savvy professionals who retail homes and want to sell more new homes should ask certain questions.

·        What program(s) are available in my market(s)?

·        What are the qualifications for that program(s)?

·        How can a retailer – or manufactured home community – best position itself to sell a home to those who qualify?

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Click to learn more about this upcoming wholesale event.

With an estimated 2 million plus pre-HUD Code mobile homes, plus some of the mid-to-late 1970s manufactured homes, the potential market is not insignificant. A little time invested in research could yield a steady stream of additional new home business for those who learn the process. 

Keep in mind that some state associations can be a resource in this, others for various reasons may not be.  So be prepared to use Bing, Yahoo, and Google searches to find what’s available in your market(s). Let’s note that there are differences between the search results of those three major search engines, so if one doesn’t reveal the information you seek, use another. 

Often, state housing associations will have a resource list as well. 

The following is an example of one such program.  “Easy doesn’t pay well,” says Sunshine Homes President John Bostick.  This won’t fall in your lap, but once you learn how to navigate the hoops, it can be a benefit to those who get the home, and clearly a new profit center to those who are willing to navigate those opportunities.

 WhatsTheLatestHomeOwnerCenterUticaNYMobileManufacturedHousingINdustryDailyBusinessNewsMHProNews

 

We are now accepting applications for manufactured home replacement assistance! 

The manufactured home replacement program assists low income, rural Oneida County residents in securing new manufactured homes.  

Assistance will be issued as a grant and will cover the cost of the manufactured home replacement, and the installation of a foundation system. THIS PROGRAM IS 100% GRANT FUNDED! GET A NEW HOME AT NO COST! 

HomeOwnershipCenterUticaNYManufacturedHOusingIndustryDailyBusinessNewsMHproNews

This is one of numerous programs operated by private, public or joint funding.

Program eligibility requirements include:

       Must own the land and the existing manufactured home (no liens, mortgages or loans)

       Must meet the definition of low income, and provide documentation verifying income is below 80% of the area median income

       The property must meet the definition of substandard

       Property taxes, insurances and electric bills must be current

       Applicants must occupy the manufactured home as a primary residence

       Must demonstrate proof of ownership for both the manufactured home unit and the property on which it is situated.

       Program participants will be required to complete a Financial Education workshop offered by HOC.

For a complete list of eligibility requirements, or for more information, please contact the HomeOwnershipCenter at (315)724-4197, or visit www.UNHS.org. Completed applications are accepted and reviewed on a first come, first served basis. You may submit your application via email to Home@unhs.org, fax to 315.724.1415 or direct mail to 1611 Genesee St. Utica, NY 13501. ## (News, analysis, and commentary.) 

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

Related Reports:

 

An Industry with a Heart – The Tomorrow’s Home Foundation

Proper Definitions, Mobile Home, Manufactured Home, or Trailer House – Civil Rights, Respect, Public Policy, & Value Issues

Friday the 13th, Mobile Homes, Fires, Tornado Magnets and the 2020 U.S. Census

NPR-Tornado Hits Mobile Home, Fact Check-Why Terminology Matters to Manufactured Housing Industry, Home Owners, Weather, News Pros

 

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SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted 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.

Emerging Trends, Opportunities, Reflected in Interview with America’s First Black Billionaire, Robert Johnson

April 16th, 2018 Comments off
RobertJohnsonBETRLJCompaniesDailyBusinessNewsMHProNews

Credit, CNBC.

Industries, companies and professionals ignore or overlook emerging trends to their own peril.

 

Significant trends are emerging in the black community, that bear close attention, as a recent interview with America’s first black billionaire, Robert Johnson indicates.

 

Background

Nationally, under 9 percent of manufactured home residents are blacks or African Americans, per the research done by the Consumer Financial Protection Bureau (CFPB) for their 2014 white paper on manufactured housing.

CFPBWhiteppaerRaceEthnicBreakdownManufacturedHousingIndustryHomeOwnershipResidentsDailyBusinessNewsMHProNews

In places like the Chicago metro, there are some land lease communities that have sizable black populations.  In various parts of the country, the black population presents a well-established customer base for manufactured housing sales.

But more is possible, and needed.

As HUD Secretary Ben Carson, M.D., noted last year, home ownership is statistically one of the keys to wealth building. Carson said that the typical renter has a net worth of about $5000, while the typical home owners net worth is about $200,000.

ManufacturedHousingShareofOccupiedHousingUnitsByStateCFPB2014MHIndustryDailyBusinessNewsMHProNews793

In that observation, Carson echoes research produced by CFED (rebranded as Prosperity Now), or commentary by manufactured home advocate, the Rev. Donald Tye, Jr.

The ideal outcome for the vast majority of Americans is to see more home ownership, and a decreasing need for subsidized housing.

In that regard, reams of research reflects the fact that manufactured housing is the all-star solution for largely unsubsidized homes that are affordable to the vast majority of the population. This is true in part because of its superior affordability – and as Carson noted – the surprising quality of modern manufactured homes.  See the related reports for more insights, linked at the end of this article.

RevDonaldTyeJrBusinessmanManufacturedHousingAdvocateDailyBusinessNewsMHProNews

Tye explained that in his experience, subsidized public housing – an entitlement – often yields addiction and other problems. Ownership vs. renting or living in “projects” leads to integrity, a view he likens to those of Dr. Martin Luther King, Jr.

Home sales – conventional and manufactured – often track with employment data. As employment rises, and incomes grow, so too does housing sales.

 

Johnson’s Interview in that Context

In that context, the comments of BET founder Robert Johnson’s interview with CNBC are noteworthy for social, economic, political and opportunities to increase home ownership to a population that lags behind other racial groups.

RobertLJohnsonBETFounderRLJCompaniesFounderWikipediaDailyBusinessNewsMHproNEwsPut differently, the improvements in black employment and earnings, combined with relatively low levels of home ownership are strong potential target markets for manufactured housing companies.

Some of the bullets by CNBC in the video interview with Johnson include:

  • The growing U.S. economy and improving business environment bringing black workers back into the labor force, BET founder Robert Johnson told CNBC.
  • When you look at that, you have to say something is going right,” Johnson says.

 

Highlights from Johnson’s Video Interview

In January, the Labor Department reported the unemployment rate among black workers was at its lowest since at least the early 1970s, when the government began tracking the data.  The unemployment rate for African Americans was unchanged in March at 6.9 percent.

When you look at that [January report], you have to say something is going right,” said Johnson, whom CNBC describes as a Democrat and founder BET and chairman of The RLJ Companies.

You have to take encouragement from what’s happening in the labor force and the job market,” Johnson said “When you look at African-American unemployment, … you’ve never had African-American unemployment this low and the spread between African-Americans and whites narrowing.”

Johnson said that means the jobs market is “soliciting employees who have been out of the labor force, some of it based on discrimination, some of it based on changes in education, access and technology changes.”

Johnson noted several positive initiatives undertaken by the Trump Administration. “I believe if you take into account the Trump tax cut, you take into account the drop in unemployment, … and you take into account that interest rates are fairly stable,” he said.

I believe the economy is on a strong growth path,” Johnson added. He said he didn’t think economic growth would hit 5 percent, which his friend and long-time CNBC contributor, Larry Kudlow, says could happen.  Kudlow recently joined the Oval Office’s economic advisory team.

PresidentTrumpCenterRobertJohonsonRTraciBluntTransitionNBCManufacturedHousingIndustryDailyBusinessNewsMHproNews

Working with POTUS Trump?

Johnson spoke about a job offer he received from Trump during the transition. He said he didn’t take the unnamed position because he didn’t want a government role, not because of any disagreement with the president or his policies.

No matter what the president would do,” Democrats and other political opponents would slam the president, Johnson said. He spoke about concerns over the “deep state.” But he stressed that “Something is going right,” for blacks and the nation as a whole.

 

Rhetoric and Charlottesville

Johnson told the president-elect during the transition, “Do not say, ‘what do you have to lose.’” Rather, he encouraged the president to talk about what they have to gain from a Trump Administration.

Those gains are now being felt.

Johnson said he’s met with the president since the transition. He spoke about his “access” to Steve Mnuchin, the Labor Department, and GOP leaders like Senator Tim Scott (R-SC).  Johnson said he’s working on issues related to “leakage” in “small dollar 401K accounts,” which if changed, would help blacks and others.

He also spoke about serving black banks, among numerous other issues raised.

 

Pressed by CNBC panelists on Charlottesville, the president’s rhetoric, and Donald Trump’s alleged racial bias from some quarters, Johnson said, “I don’t think he’s racist.”

 

RLJ Companies Insights

From third party sources, and from a listing on their website, the influence that Johnson has in the black community is apparent.  A few pull quotes from their website:

  • Johnson was named by USA Today as one of “The 25 Most Influential Business Leaders of the Past 25 Years.”
  • In 2014, three of Johnson’s holding companies were featured on the Black Enterprise 100s list: RML Automotive, LLC ranked 1st in a category of 60 in the auto dealership rankings; RLJ Equity Partners, LLC and RLJ Credit Management, LLC ranked 12th and 14th respectively on the private equity firms list.
  • Currently, Mr. Johnson serves on the following boards: RLJ Lodging Trust; RLJ Entertainment, Inc.; KB Home; Lowe’s Companies, Inc.; Retirement Clearinghouse; Elevate Credit, Inc.; The Business Council; and Smithsonian Institution’s National Museum of African American History and Culture. Mr. Johnson holds a Master’s degree in international affairs from the Woodrow Wilson School of Public and International Affairs at Princeton University and a Bachelor of Arts degree in social studies from the University of Illinois.

 

The Bottom Lines?

Johnson is a highly educated, successful, and a very well-connected professional.  He clearly sees value to the Trump agenda for African Americans, but also for the nation at large.

As Johnson noted, the facts about rising employment, opportunities, and income for blacks are all good signs.

He’s met with the president on a number of occasions.  Johnson seems to believe that the president isn’t the racist that some of his opponents would have people believe. He clearly stated that the agenda is a good one for blacks and for the country.

Black Americans lag behind other ethnic groups in housing ownership.  The comments by Johnso – combined with insights from HUD Secretary Carson about the amazing” quality found in today’s manufactured homes – all point to potential opportunities for more industry professionals to better serve the needs of the black community.

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

Carson noted several times last year that home ownership is important for wealth building, a point that manufactured home advocate the Rev. Donald Tye, Jr. has also stressed. ## (News, analysis, and commentary.)

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

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Trump Administration and the Manufactured Housing Industry

The Ultimate Manufactured Home Industry Fact$, Data, and Insights – Bullets plus at-a-Glance Infographic

Affordable Housing, and Today’s Manufactured Homes, Yesteryear’s Mobile Homes

“Move, Open, Live” De Rose Industries & Senator Thom Tillis’ Mobile Home Comments

YIMBY vs. NIMBY, Obama Admin Concept Could Unlock $1.95 Trillion Annually, HUD & MH Impact

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