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Zillow Research Reveals Impact of Rising Rents on Homelessness, Affordable Housing Advocates, Public Officials, and Investors Take Note

December 21st, 2018 Comments off

 

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In a press release to the Daily Business News on MHProNews, Zillow has timed the results of their own study on homelessness in the U.S.A. near the date that the U.S. Department of Housing and Urban Development (HUD) annual report to Congress occurred.

 

The Zillow findings are eye opening. The real estate website powerhouse asserts, among other points, that HUD has long underestimated the actual count of homelessness in the U.S. by some 20 percent.

 

HomelessnessClimbsFasterWhen_RentAffordabilityReaches22%Threasholds

 

Communities where people spend more than 32 percent of their income on rent can expect a more rapid increase in homelessness, according to new Zillow-sponsored research on the size and root causes of the nation’s homelessness challenge. The research also estimates that the scale of homelessness nationwide has been undercounted by roughly 115,000 people, or 20 percent,” per Zillow’s study.

EffectRisingRentsonHomelessnessZillowResearchDailyBusinessNewsMHProNews

The video posted below gives a snapshot into the report.

 

 

MHProNews will plan a more in-depth review of the Zillow findings, perhaps after Christmas. Because once more, the facts from Zillow and HUD alike point to several vexing issues that should cause minds and hearts to stir into action.

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If HUD is correct, and you can see our report from HUD in the related reports linked below the byline and notices, over 550,000 Americans are homeless in the U.S.

New HUD Report Reveals Tragedy of Homelessness, When Solution for Affordable Housing is Hiding in Plain Sight

 

But if Zillow is correct, that number stands at some 660,000 souls.

As Christmas approaches, and tens of millions celebrate of the birth two thousand years ago of the child Jesus in a stable, it seems that public policy has failed hundreds of thousands of our fellow citizens.

The video and research are troubling, but also point to opportunities to turn their plight into a promise for a better future that our industry should be front and center in by making homelessness here history.

That’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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Manufactured Housing Institute Housing Alert, Affordable Housing Crisis, MHI’s #NettlesomeThings Response

Scandalous, Presidential Politics, Affordable Housing, Mobile and Manufactured Homes

 

 

 

Manufactured Housing’s Latest Production Stats, Import for Industry, Investors

January 8th, 2018 Comments off

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The following press release was provided to the Daily Business News, which will be followed by a brief analysis and commentary, with some related links.

 MANUFACTURED HOUSING PRODUCTION UP IN NOVEMBER 2017

Washington, D.C., January 5, 2018 – The Manufactured Housing Association for Regulatory Reform (MHARR) reports that according to official statistics compiled on behalf of the U.S. Department of Housing and Urban Development (HUD), year-over-year manufactured housing industry production grew once again during November 2017. Just-released statistics indicate that HUD Code manufacturers produced 8,602 homes in November 2017, a 21.1% increase over the 7,098 HUD Code homes produced during November 2016. Cumulative industry production for 2017 now totals 85,657 homes, a 15.5% increase over the 74,141 HUD Code homes produced over the same period in 2016.

A further analysis of the official industry statistics shows that the top ten shipment states from the beginning of the industry production rebound in August 2011 through November 2017  — with cumulative, monthly, current year (2017) and prior year (2016) shipments per category as indicated — are:

CummalitiveManufacturedHousingProductionChartNov2017Top10StatesMHARRDailyBusinessNewsMHProNewsThe 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.

-– 30 –

Last month’s report is linked below.

Latest Manufactured Home Shipment Data, for October 2017 Released

The industry needs to look at such statistics through a dual lens.

First, it naturally a good thing that the industry is witnessing rising shipments since it hit bottom in 2009.

 

NAR’s Yun – No Quick Fixes Spell$ Manufactured Housing Opportunitie$

Second, the industry is only scratching the surface of its potential. 

MobileManufacturedHomeAnnualShipments1959-2012CalculatedRisk-DailyBusinessNewsManufacturedHousingIndustryResearchReportsMHProNews

If the Manufactured Housing Institute (MHI) had the visions and solutions that they claim, would the industry have experienced the kind of slides and slow recovery witnessed since 1998?

Historically and in the future, the industry did more, and could do roughly 10 times (+/-) better than it currently is in terms of new home sales.

ManufacturedHousingIndustryShipmentsFEMAManufacturedHomesNotMobileHomesTrailersIndustryResearchReportsDataMHProNews

NAR says there are 8 million new housing units needed. Site builders can achieve the needed numbers, but factory builders – given the vision and commitments needed – can. Credits, MHI, Cavco.

With over 8 million new housing units needed now, and conventional construction unable to meet those needs in terns of speed, price, quality and volume, investors ought to be salivating of the potential in manufactured housing.

MultipleReasonsExpectManufacturedHousingDoBetterThanSiteBuiltHousingEricBelskyEecDirJointCenterHousingStudiesHarvardUnivDailyBusinessNewsMHProNews

At the time Belsky made this prediction, manufactured homes (MH) were selling over 250,000 new units per year. This year, MH won’t reach 40 percent of that total. What happened?

Appealing Manufactured Housing Institute (MHI) Marketing, Finance Booklet Reviewed

That said,  there are also several warning signals and possible rivals to the industry that professionals must grasp, and cross.

Trends in MH Communities, Impacting Producers; Looming Crash?

While Manufactured Housing Overall Rises, Some Slip Sliding Away

Properly understood, each of the issues can be navigated with the correct effort.

Is their proof for that claim?

Yes.

Because there are companies growing at more than double the rate of the industry at large, and individual locations growing at more than 4 times the rate of the industry at large.

KYPs, and the $64 Billion Dollar Question-Monday Morning Manufactured Housing Sale$ Meeting

Finally, the potential could be tapped by others, it won’t simply fall into manufactured housing’s lap.

$58,000 PreFabs, Videos, Updates of More Hi-Tech Backers

So, the industry’s potential must be approached as a mid-to-longer term move.

Survey Top 2017 PreFab, Modular, Tiny and 3D Printed Housing News Stories

Manufactured housing isn’t a fast buck.  That’s a key lesson from Warren Buffett, who took the long term view.

Warren Buffett, “the Moat,” Manufactured Housing, Berkshire Hathaway, Clayton Homes, 21st Mortgage, Vanderbilt, Wells Fargo, NAI…

Beyond Skyline/Champion Merger, What’s Next in Manufactured Housing? Plus MHMarket Update$

But it’s a sure buck for those who know what they are doing, and are wiling to invest the time, talent, and treasure to mine the opportunities. ## (News, analysis, and commentary.)

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Manufactured Home Community Rent Control on Public Meeting agenda

August 29th, 2014 Comments off

santa-clarita-ca-rent-control-hearing-credit-signalscv-posted-daily-business-news-mhpronews-com-The City of Santa Clarita, CA, will host three public comment meetings to discuss draft updates to Santa Clarita Municipal Code 6.02, the Manufactured Home Park Rent Adjustment Procedures. Meetings are open to the public, as well as to residents of manufactured home communities, business owners and managers.

The City of Santa Clarita and signalscv  tells MHProNews that meetings will be held at the following locations and times:

Tuesday, September 2, 2014 from 6:00 p.m. to 8:00 p.m. at the Old Town Newhall Library, located at 24500 Main Street. Wednesday, September 3, 2014 from 1:00 p.m. to 3:00 p.m. in the Century Room at City Hall, located at 23920 Valencia Boulevard. Thursday, September 4, 2014 from 6:00 p.m. to 8:00 p.m. at the Canyon Country Library, located at 18601 Soledad Canyon Road.

In an exclusive interview that will be published next week on MHProNews, Sheila Dey, executive director for the Western Manufactured Housing Communities Association (WMA), has said such meetings can be intimidating to public officials who are subject to election, because 100 residents may show up and only one or two representing community owners are there to share their perspective.

Since 1945, the WMA has served the“exclusive purpose of promoting and protecting the interests of owners, operators and developers of manufactured home communities in California.”

The comments of Sheila Dey, JD, will be of keen interest to manufactured housing professionals. “A Cup of Coffee with…Sheila Dey” will be on the home page under Featured Articles starting September 1, 2014.

A balanced perspective, including a video from a Canadian news organization, on the rent control topic is found at this link. ##

(Photo credit: signalscv)

CNBC says 5 to 6 Million Renting Should Own – Affordability = Credit Access, Rates & Price

August 27th, 2014 Comments off

credit-comstock-getty-cnbc-posted-daily-business-news-Tim Rood with the Collingwood Group was part of a CNBC discussion that pointed to factors that manufactured home professionals relate to: the many – and often competing – dynamics that cause someone to buy a home or stay in a rental. Elements such as price and interest rates, CNBC’s Diana Olick  tells MHProNews,  along with knowledge of options, down payments and access to credit all impact prospective home buyers.

Olick says, “There has long been a saying in the real estate market that potential homebuyers don’t buy according to the home price or the mortgage rate. Instead, “they buy the monthly payment.” The monthly payment is, of course, a combination of rate and price, but the weight of each can change dramatically.”

Olick described factors in the last boom and bust: “For example, home prices were able to soar uncontrollably during the last housing boom only because risky mortgage products at the time made monthly payments minuscule and down payments often nonexistent.”

MH professionals know that well intended, ‘corrective’ regulatory hurdles imposed by the Consumer Financial Protection Bureau (CFPB) and/or states have in many cases harmed sales that would have taken place otherwise.  

For example, when a community operator or private money investor is willing to lend at a rate that still yields an affordable payment, but fails to fit the peghole regulators established, would-be sales are lost. This in turn keeps factories from building homes that would otherwise have been ordered by MH retailers, developers and communities to fill demand.

If Rood is correct, 5 to 6 million potential home sales represent a huge economic stimulus that would create millions of jobs. As demand on rentals would ease, monthly rates could be mitigated and housing affordability for millions more would improve.

Manufactured housing professionals can point to facts found in the recent GAO study which cites the lower monthly payment MH enjoys, combine it with stories of affordable quality living, to tap into more sales, to sway more opinion leaders and public officials.

“It never ceases to amaze me how hung up mortgage borrowers can be on rate,” said Matthew Graham of Mortgage News Daily. “In fact, a lot of times we have to remind them that the .125 percent difference in rate only amounts to X dollars and they’re surprised.” ##

(Image credit: Comstock/Getty/CNBC)

(Editor’s Note: A chart by FannieMae, published in this article here, underscores the relationship of price, rate and affordability for manufactured housing.)

 

Private, Non-profit Support Affordable Housing

February 5th, 2013 Comments off

HousingWire reports that non-profit NeighborWorks America and Wells Fargo have provided $27 million in down payment assistance grants to help 1,624 moderate-income buyers purchase a home. Initially begun in Los Angeles and Atlanta in 2012, the program has provided $15,000 to $30,000 down payment grants to those who meet the requirements. Jon Campbell, Wells Fargo’s executive vice president, says, “These programs encourage the kind of collaboration that needs to keep happening between the private sector, the non-profit sector and elected and public officials.” MHProNews has learned over $64 million is still available in select markets.

(Image credit: andyenstallblog)

Cheers and Jeers; Allen and Ghorbani

January 15th, 2013 Comments off

Two new Industry in Focus reports drew cheers from numerous industry business and association leaders from coast to coast. Sources close to George F. Allen and Danny Ghorbani whispered they met the reports with jeers – and in concert with their close knit group of cross-promoters – are already discussing potential response tactics. Ken Rishel provide a spirited defense of Allen, his ally, in a one page article in an emailed document. But A Manufactured Controversy? shredded Rishel’s defense, including by quoting Allen himself as indicating he is starting a ‘new association’ because he can’t sell his business interests to prepare for his desired retirement.

Danny Ghorbani, president of MHARR, allegedly attempted to divert attention by issuing a statement on a different topic. A source in the MHARR camp informed MHProNews about a division in their association. One faction favors working more closely with the Manufactured Housing Institute (MHI), while another backs Ghorbani out of a sense of loyalty for a man willing to fight for what the HUD Code ought to give our Industry by law.

A source told MHProNews that the challenge is that Ghorbani, while smart and talented, is a bridge burner. That source and others have said they have personally watched Danny as an “equal opportunity” attacker of U.S. Senators, Congressmen, regulators and/or their respective staffs when he doesn’t get his way. “They (public officials) simply don’t want to talk to him.” the source told us. “That makes it hard for Ghorbani to be an effective association leader.” Another said, “MHARR’s factories could save 6 figures a year and quadruple their policy impact overnight. When will they figure that out?” The report on threats made by Ghorbani is in Industry In Focus, linked here.

“The phones lit up Monday morning and our email brought numerous kudos messages,” said MHProNews publisher L. A. ‘Tony’ Kovach. “There was one light defense of Ghorbani and one of Allen. But most of our readers feedback agreed, with some congently pointing out that the industry has only advanced its agenda in DC when MHI, MHARR and MHEC (Manufactured Housing Executives Committee) all worked together.”

“There is no doubt that Ghorbani and Allen have small pockets of support.” Kovach said. “But as our Masthead’s blog, Bring it On! analysis demonstrates, their own supporters are arguably among the most harmed by the divisive actions of these two ‘anti-leaders.’ They are similar in the sense (that) they both attack MHI, but they never stop to think that the lack of unity, which their published negative missives foment, harm everyone.”

“Logically, that includes their own constituencies of Allen’s ‘small communities,’ and MHARR’s independent manufacturer.” Kovach added.

A Manufactured Controversy? quotes MHI CEO Dick Jennison and includes downloadable documents. MHI declined comment on the Ghorbani threats article. “MHI routinely keeps it positive or silent about MHARR publicly, depending on how MHARR’s president behaves.” Kovach observed. Links to each of the stories and the related downloadable documents are found in red above. ##

(Photo: George F. Allen (l), Danny Ghorbani (r))

 

FEMA Trailers in NYC. Can it Be?

November 6th, 2012 Comments off

The housing shortage in New York City for this winter is so acute public officials are considering FEMA (Federal Emergency Management Agency) trailers and manufactured housing in areas outside the city where there is room to site them. Other options include area hospitals with empty beds, even state-run mental hospitals. Gov. Andrew Coumo says, “It’s going to be decided on a community by community basis. Some people will use trailers, others will use hotels, motels. You are going to have some people who need short-term housing, you have others who wil need long-term housing solutions. And those are two very different things.” As NY1 tells MHProNews, the governor says the needs will change over time.

(Photo credit: CountryLiving—New York City)