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Latest New Residential Home Sales Data from HUD and U.S. Census Bureau

February 1st, 2019 Comments off

LatestNewResidentialHomeSalesDataFromHUDUSCensusBureaUnderConstructionMHProNews

Big-picture focused manufactured home pros should find the latest data from the U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau to be of keen interest as the latest reality check.

 

The official press release from HUD and the Census Bureau to the Daily Business News on MHProNews is followed by a brief analysis of the data.

 

 HUDCensusBureauNewResidentialSalesNov2018PressReleaseDailyBusinessNEwsMHproNews

WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential sales statistics for November 2018

 NewResidentialHomeSalesNov2018CensusBureauHUDDailyBusinessNewsMHProNews

New Home Sales

Sales of new single-family houses in November 2018 were at a seasonally adjusted annual rate of 657,000. This is 16.9 percent (±19.9 percent)* above the revised October rate of 562,000 and is 7.7 percent (±20.7 percent)* below the November 2017 estimate of 712,000.

 

Sales Price 

The median sales price of new houses sold in November 2018 was $302,400. The average sales price was $362,400. 

 

For Sale Inventory and Months’ Supply

The seasonally adjusted estimate of new houses for sale at the end of November was 330,000. This represents a supply of 6.0 months at the current sales rate.

 

EXPLANATORY NOTES

In interpreting changes in the statistics in this release, note that month-to-month changes in seasonally adjusted statistics often show movements which may be irregular. It may take three months to establish an underlying trend for building permit authorizations, six months for total starts, and six months for total completions. The statistics in this release are estimated from sample surveys and are subject to sampling variability as well as nonsampling error including bias and variance from response, nonreporting, and undercoverage. Estimated relative standard errors of the most recent data are shown in the tables. Whenever a statement such as “2.5 percent (±3.2 percent) above” appears in the text, this indicates the range (-0.7 to +5.7 percent) in which the actual percentage change is likely to have occurred. All ranges given for percentage changes are 90 percent confidence intervals and account only for sampling variability. If a range does not contain zero, the change is statistically significant. If it does contain zero, the change is not statistically significant; that is, it is uncertain whether there was an increase or decrease. The same policies apply to the confidence intervals for percentage changes shown in the tables. On average, the preliminary seasonally adjusted estimates of total building permits, housing starts and housing completions are revised 3 percent or less/

* The 90 percent confidence interval includes zero. In such cases, there is insufficient statistical evidence to conclude that the actual change is different from zero.

### End of HUD/Census Bureau Press Release

 

Facts are #NettlesomeThings.  Nettles, properly understood, can both sting but also have a medicinal element that can be used to bring healing.  That’s how we use the apt nettles metaphor.

Step back and ponder the huge spread between manufactured home sales and that of conventional housing.  Recall that the Manufactured Housing Institute’s (MHI) President and CEO, Richard ‘Dick’ Jennison promised 500,000 new home shipments.  What happened to that public pledge?

The industry’s purported ‘leaders’ were strutting around the Louisville Show on Wednesday, as if they owned the place.  Yet, the results are anemic, compared to the rest of mainstream housing. See the related reports, further below. 

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

 

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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.

 

Related Reports:

You can click on the image/text boxes to learn more about that topic.

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

Positive, Uplifting Third-Party Reports Favor Modern Manufactured Housing, So What’s Going Wrong?

Bonuses, Bonuses! Manufactured Housing Struggles During Affordable Housing Crisis, While Top MHI Staffers Get Bonuses

“The Illusion of Motion Versus Real-World Challenges”

 

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

 

 

 

 

 

 

MH Silver Lining? Residential Construction Report, Oct 2018, per HUD, Census Bureau

November 22nd, 2018 Comments off

MHSilverLiningHUDCensusBureauResidentialConstructionReportOct2018DailyBusinessNewsMHProNews

Prior to diving into the latest residential construction data from the federal government, we’ll simply note that our reports from official sources are often among the most popular on the Daily Business News on MHProNews.

 

For example, from our primary URL (web address) – observing that we have several others, which have their own website statistics – the article linked below for 2/3 of November produced over 10,000 hits. That’s as of the date and time shown, shown below.

The data is per third-party Webalizer, with the normal disclaimers previously noted on the linked page.

SummaryByMonthOctober2018

Usage Statistics for mhmarketingsalesmanagement.com

Summary Period: November 2018
Generated 21-Nov-2018 06:06 CST

Rank on site – Hits – URL

10 10139 http://www.mhmarketingsalesmanagement.com/blogs/daily-business-news/hud-announces-relief-from-california-wildfires-mh-owners-can-qualify/

 

It should be noted that even that single article, linked above, reflects more readership – traffic – for manufactured housing trade media than others in our industry will get in weeks-to-months for all of their content.

Because we do over 100 reports monthly, that readers find relevant, and because readers read several reports on average per visit, we get over 2 million total visits annually.  Nothing else in manufactured housing trade media even comes close. Thanks for making and keeping us the runaway #1.

Let’s dive into the data and graphics, and then we’ll do a CNBC video on this related subject, a few announcements, plus some manufactured housing related analytical bullets.

 

 HUDPressReleaseCensusBureauDailyBusinessNEwsMHProNews600

HUD AND CENSUS BUREAU REPORT RESIDENTIAL CONSTRUCTION ACTIVITY IN OCTOBER 2018

WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential construction statistics for October 2018.

Building Permits:  Privately owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 1,263,000. This is 0.6 percent (±2.4 percent)* below the revised September rate of 1,279,000, and is 6.0 percent (±1.6 percent)* below the October 2017 rate of 1,343,000. Single-family authorizations in October were at a rate of 849,000; this is 0.6 percent (±2.2 percent) below the revised September figure of 854,000. Authorizations of units in buildings with five units or more were at a rate of 376,000 in October.

NewResidentialConstructionOct2018HUDCensusBureauBuildingPermitsHOusingStartsCompletitionsDailyBusinessNewsMHProNews

Housing Starts:  Privately owned housing starts in October were at a seasonally adjusted annual rate of 1,228,000. This is 1.5 percent (±12.9 percent)* above the revised September estimate of 1,210,000, but is 2.9 percent (±10.4 percent)* below the October 2017 rate of 1,265,000. Single-family housing starts in October were at a rate of 865,000; this is 1.8 percent (±10.8 percent)* below the revised September figure of 8881,000. The October rate for units in buildings with five units or more was 343,000.

2018-11-HUDCensusBureauYoYTrendLinesOct2013toOct2018DailyBusinessNewsMHProNews

Housing Completions:  Privately owned housing completions in October were at a seasonally adjusted annual rate of 1,111,000. This is 3.3 percent (±10.5 percent)* below the revised September estimate of 1,149,000 and is 6.5 percent (±9.2 percent)* below the October 2017 rate of 1,188,000. Single-family housing completions in October were at a rate of 832,000; this is 1.2 percent (±10.6 percent) below the revised September rate of 842,000. The October rate for units in buildings with five units or more was 269,000.

The November report is scheduled for release on December 18, 2018.

EXPLANATORY NOTES

In interpreting changes in the statistics in this release, note that month-to-month changes in seasonally adjusted statistics often show movements which may be irregular. It may take three months to establish an underlying trend for building permit authorizations, six months for total starts, and six months for total completions. The statistics in this release are estimated from sample surveys and are subject to sampling variability as well as nonsampling error including bias and variance from response, nonreporting, and undercoverage. Estimated relative standard errors of the most recent data are shown in the tables. Whenever a statement such as “2.5 percent (±3.2 percent) above” appears in the text, this indicates the range (-0.7 to +5.7 percent) in which the actual percentage change is likely to have occurred. All ranges given for percentage changes are 90 percent confidence intervals and account only for sampling variability. If a range does not contain zero, the change is statistically significant. If it does contain zero, the change is not statistically significant; that is, it is uncertain whether there was an increase or decrease. The same policies apply to the confidence intervals for percentage changes shown in the tables. On average, the preliminary seasonally adjusted estimates of total building permits, housing starts and housing completions are revised 3 percent or less. Explanations of confidence intervals and sampling variability can be found at the Census Bureau’s website.

* The 90 percent confidence interval includes zero. In such cases, there is insufficient statistical evidence to conclude that the actual change is different from zero.

###


As noted in the red text on the second graphic, this data, while somewhat concerning for conventional housing, it points to significant potential for manufactured housing.

To keep it upbeat, but accurate:

  • Marketing and sales operational changes are obviously needed at the location-level to increase the market penetration of manufactured homes.
  • With some 8.3 million housing units needed, there’s a huge upside.
  • The reason that several new HUD Code builders have opened in 2018, is because regulatory and financial conditions are improving.
  • The reason that Legacy Housing, (LEGH) has filed for an IPO, is because the clearly see the upside potential. Their report, linked below, indicates they are planning to significantly grow their retail presence.
  • Based upon October 2018 data, 1,544,187 pages accessed / 24 = 64,341.125.  What that means is that our page views, would be like over 64,300 24 page magazines being read, cover-to-cover. 
  • It should be noted again that MHProNews is projecting the launch of its newest, best yet version of our website in early 2019. Additional features are planned for 2019, and our audience share continues to grow, having more than doubled traffic in the last 12 months. Once that new version of MHProNews goes-live, there will be a rate increase for sponsors, but current and new advertisers can lock in 2017 rates until that time. See the link, here.

Happy Thanksgiving.  See related reports, linked below.  “We Provide, You Decide.” © ## (News, analysis, and commentary.)

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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.

 

Related Reports:

Legacy Housing IPO, Lending Tree, & New HUD Ruling Updates

 

#NobleNotMobile, New Contest and Video Program Launched, Exclusive Details

What’s the Truth About Thanksgiving in MHVille?

 

 

 

Labor Day Origins, U.S. Income and Job Growth, is the Trump Administration’s plan working?

September 4th, 2017 Comments off
LaborDay2017CreditPixabayDailyBusinessNews

Featured image credits, MHProNews/Pixabay.

Over the years holidays change, and some can tend to lose their original meaning.

For Labor Day, the holiday was meant to recognize the working class.  While that meaning isn’t forgotten, today the holiday has become a marker for the transition from the summer into fall.

Millions today enjoy BBQs, swimming, or other ways of celebrating the end of the summer months. Meanwhile, millions of others will work today. In that dichotomy, some see wisdom in taking a few moments to remember why the holiday was created in the first place.

To celebrate the average worker and his contribution to society.

Labor Day Origins

The first ever Labor Day celebration on record, per the U.S. Census Bureau, was likely September 5, 1882. On that day, around 10,000 workers in New York gathered for a parade.

Over the next couple years, similar celebrations popped up throughout the nation.

It was 1894 that then President Grover Cleveland signed the bill officially designating the first Monday in September as Labor Day.

The problem with declaring a single “founder” of Labor Day is that, at the time, no one realized that a new national holiday was being born. It was only after the fact that people tried to pinpoint a single founding father,” said Linda Stinson, a former U.S. Department of Labor’s historian, per AL.

So the historical conundrum seems to hinge on the fact that the two names sound alike and were probably mixed up in the common consciousness. Toss in the years of bitter rivalry between the American Federation of Labor and the Knights of Labor and, of course, you’re going to have multiple heroes emerging in the legend of Labor Day.”

An Overview of U.S. Labor Statistics

The unemployment rate in the United States, as of August 2017, is 4.4 percent, per the U.S. Bureau of Labor Statistics (BLS). This number has remained stable since April, at 4.3-4.4 percent each month as we reach what some economists are calling “full employment.”

UnemploymentRateUSAugust15to17CreditUSBLSDailyBusinessNews

Unemployment rates in the U.S. from August 2015 to August 2017. Image credit, U.S. Bureau of Labor Statistics.

You can download the full report from the U.S. Bureau of Labor Statistics here.

Over the last few years the unemployment rates have continued to drop. Now, incomes are finally starting to rise as well.

You can download the “Income and Poverty in the United States: 2015” report from the U.S. Census Bureau here.

IncomeandPovertyCreditUSCensusBureauDailyBusinessNews

Click the image above to download the Income and Poverty in the United States: 2015 report from the U.S. Census Bureau. Image credit, U.S. Census Bureau.

More recently, a report from Sentier Research says that annual household incomes have increased to $59,361 as of April 2017.

This is up 2 percent from January, and a record-high since February of 2002.

There is debate over whether this is just the economy finally leveling out again after the recession, or if this points to positive impacts of the Trump Administration since the inauguration in January, per Investors.

According to the U.S. Census Bureau, 159.8 million people age 16 and older currently make up the U.S. workforce, as of May 2017.

How These Statistics Apply to the Manufactured Housing Industry

OccupationsMostEmployeesCreditALDailyBusinessNews

Image credit, AL.

Many of the occupations on the list to the left are being served by professionals in the manufactured housing (MH) industry. Some of those retail sales people also sell manufactured homes.

Other occupations found within the industry include customer service reps, general and operations managers, general laborers, administrative assistants and more.

Another important note for industry professionals, is that with income growth will come more people looking to buy homes.

For families making under the median income, who have still seen increases in their annual income, manufactured homes are the ideal option for quality and affordability.

With the proper local promotion of the benefits of manufactured homes – especially as news about FEMA, HUD and others rushing to get Hurricane Harvey survivors out of shelters and into homes – many more might look towards the more affordable and durable option for housing.

Is the Trump Administration Improving the Job Markets?

President Trump, during his campaign, promised that he would create more jobs than any other president.

So far, there have been over a million jobs created since Trump took office in January, per Politico.

IWillBeGreatestJobsPresidentGodEverCreateddonald-trumpNYDailyNewsMHProNews

Image credit, New York Daily News.

Last week when the Labor department announced that 209,000 jobs were added in July, president tweeted, “Excellent Jobs Numbers just released – and I have only just begun. Many job stifling regulations continue to fall. Movement back to USA!”

Plans the Trump Administration have for increasing jobs and wages in the U.S. include cutting down on illegal immigrants coming into the U.S., loosening restrictions and regulations, tax reform and a repeal-and-replace of ObamaCare, new trade deals and more. This can all have a positive impact on job creation and boosting wages.

ItsNotOverUntilTheFatLadySingsEnglishTest-netDailyBusinessNewsMHProNews

However, just on what the administration has gotten done so far, the economy has already seen improvements, as the Daily Business News has previously reported.

TrumponomicsFirst6Months9ChartsDailyBusinessNewsManufacturedHousingIndustryMHProNews

 

Unemployment is the lowest it’s been in years – and the nation has nearly reached “full employment.” On top of that, wages are – albeit too slowly for many – on the rise after years of being stagnant.

Happy Labor Day, from MHProNews!  As the markets are closed, their is no stock market report today. ## (News, analysis.)

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

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

 

 

 

 

 

How Much Does the Average American Pay in Taxes?

September 1st, 2017 Comments off
AmericansTaxesCreditPIxabayDailyBusinessNews

Featured image credit, Pixabay, MHProNews.

Our self-destructive tax code costs Americans millions and millions of jobs, trillions of dollars and billions of hours spent on compliance and paperwork,” said President Donald Trump, in a speech in Springfield, MO., per Newsmax.

The president’s words are not an exaggeration.

Data released this week by the Bureau of Labor Statistics (BLS) found that the average American spent $10,489 on federal, state, and local taxes combined in 2016.

That broken down, is $8,367 in federal taxes, $2,046 in state and local income taxes, and $75 in other taxes.

Last year, Americans spent more on taxes than they did on food and clothing – combined.

The BLS used data provided by the U.S. Census Bureau in their Consumer Expenditures report for 2016.

The study looks at individual “consumer units,” which include

  • all members of a particular household who are related by blood, marriage, adoption, or other legal arrangements,”
  • or “a person living alone or sharing a household with others or living as a roomer in a private home or lodging house or in a permanent living quarters in a hotel or motel, but who is financially independent,”
  • or “two or more persons living together who use their income to make joint expenditure decisions.”
AmericansSpendMoreTaxesCreditCNSNewsDailyBusinessNews

Americans spending on taxes compared to food and clothing. Image credit, CNS News.

In just three years, the amount spent on taxes has increased by 41.13 percent. In 2013, Americans spent $7,423 on taxes, compared to the $10,489 in 2016.

The only cost that was higher than taxes, was housing – which included mortgage or rent, and utilities – totaling at $18,886.

No Surprise

Regular readers of the Daily Business News will not find this to be a surprise.  Note the recent reported that rents are growing out of reach of low-wage workers, and that there are over 8 million people who are at risk of losing their home over a single emergency expense.

WorstCaseHousingNeeds2017ReportCoverCreditsHUDDailyBusinessNews

Featured image credit, HUD.

The study determined that the average consumer unit had $74,664 in annual income. The Bureau of Labor Statistics full break-down on how American’s are spending their money is available here for download.

Trump “Doesn’t Want to be Disappointed by Congress” on Tax Reform

Coincidentally, as this information was released President Trump was in Springfield, MO, giving a speech on tax reform.

This is our once-in-a-generation opportunity to deliver real tax reform for everyday hard-working Americans,” Trump told employees of the Loren Cook Co.

You can watch his full address and crowd interaction in the video below.

The Daily Business News has reported that tax reform is one of the key issues that industry professionals, and the National Federation of Small Businesses (NFIB) want to see tackled soon.

We want to renew our prosperity — and to restore opportunity, then we must reduce the tax burden on our companies and on our workers,” President Trump said. ## (News.)

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

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

 

 

 

New Home Sales Drops Sharply, Why? Video

August 26th, 2017 Comments off
NewHomeSalesDropSharplyPixabayDailyBusienssNewsMHProNews

Image credits, MHProNews/Pixabay.

New home sales took a steep 9.4 percent drop in the month of July.  This occurred after a stronger start to 2017 for the first six months.

The figures are per the U.S. Census Bureau and the Department of Housing and Urban Development (HUD) announcement Wednesday.

At a seasonally adjusted annual rate (SAAR), there were only 571,000 units sold in July. That’s the lowest number since December 2016, and the biggest drop since August 2016, per CBNC.

The sudden drop was a surprise to economists who expected a 0.3 percent gain.

Volatility

New home sales are volatile on a month-to-month basis.  On single and multi-family housing, the numbers are determined through building permits. Year-over-year, new home sales for July were down by 8.9 percent.

The Daily Business News reported last month that housing starts were up in the month of June.  That trend obviously did not continue into July, as both permits and housing starts declined along with new home sales.

The median cost of a new home in July was $313,700, and the average selling price was even higher at $371,200. That price dramatically limits the  potential buyers for a new home.

IanshepherdsonCreditWikipediaDailyBusinessNews

Ian Sheperdson. Credit, Wikipedia.

This looks bad, but note that sales over the previous three months were revised up by a total of 46K,” Ian Shepherdson, chief economist for Pantheon Macro, said Wednesday, per UPI. “Prices are rising too, but the data are so volatile that it’s hard to be sure what the underlying trend rate of increase is at any given point.”

Regardless of the trend, conventional housing at these prices are out of reach for low and median wage workers.

The housing market is being hampered by a shortage of properties, which is driving up home prices. The new housing market has not capitalized on the acute shortage because of supply constraints facing builders, including labor, land and finance,” per CNBC.

The Daily Business News has also previously reported that a lack of new home building is one of the biggest contributing factors in the current supply and demand gap.

However, the high cost of building is making it harder to build affordable housing.

5PointsUSHousingCreditsPixabayDailyBusinessNews

Featured image credits, MHProNews/Pixabay.

According to UPI, the national inventory increased 1.5 percent to 276,000 units in July, the highest recorded since 2009. Yet new home sales still dropped by almost 10 percent with that increased inventory.


As Credit Human’s veteran Barry Noffsinger said in a recent video, the woes of these broader housing market are an open invitation for manufactured housing professionals.

Perhaps when more professionals put Noffsinger’s tips to work, the nation can rise on the global stage in home ownership, where it currently lags behind dozens of other nations.  See that report, linked here. ## (News, Analysis)

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

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

Homeownership Rates in U.S. Compared to Top 50, MHI’s Idea Revisted

August 25th, 2017 Comments off
HomeownershipRatesIntheUSFeaturedCreditChicagoTribuneDailyBusinessNews

Featured image credit, Chicago Tribune, MHProNews.

Homeownership is a way for people to generate stability and wealth and not just go to work every day,” said Deborah Moore, neighborhood planning director for Neighborhood Housing Services of Chicago.

In addition, homeownership can “change the trajectory of neighborhoods,” she added.

Homeownership is a dream that for many Americans seems far off.

The growing lack of affordable housing options across the country is manifest in a host of reports and in a variety of data.

Rents are higher than ever.  That makes it harder for minimum – and low-wage workers – to be able to afford their current housing costs, let alone save for a home.

In the United States, the homeownership rate as of the second quarter of 2017 was 63.7 percent, per the U.S. Census Bureau.

FREDHomeownershipRatefortheUSCreditUSBureauofCensusFREDSTLouisFed

Image credit, US Census Bureau, FRED St. Louis Fed.

But how does the United States stack up against the rest of the world?

According to Wikipedia, which takes twenty-one different sources into account, the United States ranks 41st highest percentage of homeowners in the world, with 65.4 percent.

The country with the highest homeownership rate is Romania, with 96.4 percent of citizens owning their home.

Coming in just under Romania is Singapore at 90.8 percent, Slovakia at 90.3 percent, and Cuba at 90 percent.

The U.S. is nearly neck-and-neck with the United Kingdom, where 63.5 percent are homeowners. (Editor’s Note: see the footnotes below, after the ## on Julia’s article.)

Rev. Tye on the Obvious Solution

Homeownership benefits more than just the homeowners, says manufactured housing advocate, Rev. Donald Tye, Jr.  People who own their home are more likely to maintain it, which keeps neighborhood’s more appealing, and adds to the tax base.

DonaldTyeJrNewFaceFactoryBuiltHousingAdvocacyHUDDrCarsonDailyBusinessNewsMHProNews-563x430

Tye told MHProNews that, “As we think about housing in today’s world, the most important aspect should start with affordability. When home ownership is affordable, it has ancillary benefits.”

HUD Secretary Ben Carson has stated that the average net-worth of a homeowner in the U.S. is $200,000, while the net-worth of a renter is on average $5,000.

Ownership builds character, competence and integrity,” Tye said in soft yet potent tones.

One of the reasons that the U.S. ranks so low on homeownership compared to some of the countries on the Wikipedia list is because of the lack of affordable homes on the market.

JDHarperExecutiveDirectorArkansasManufacturedHousingAssocPostedMHProNews

Harper’s Op-Ed on a related issue can be found at this link here, or by clicking the image above.

Since the so-called Great Recession of 2008, it has been more difficult to qualify for a home loan.  Conventional housing prices  continue to rise well above wages ability to sustain a mortgage on the average house.

Insufficient numbers of new homes being built are among the biggest contributing factors per a recent study, as the Daily Business News previously reported.

Manufactured housing presents a clearly viable solution, through cost-effective building that offers high-qualify homes for a fraction of the cost.

JD Harper told MHProNews last December that “most cities [in Arkansas] view factory-built structures through the same prism as billboards, cell towers and sexually-oriented businesses… something to be avoided if at all possible, but restricted and heavily regulated if allowed at all.”

However because of NIMBY (Not In My Back Yard) attitudes described above, along with outdated information perpetuated by the media, many people don’t consider it an option at all.

NIMBYDefintionManufacturedHousingIndustryResearchDataReportsDailyBusinessNewsMHProNews

If manufactured housing was better understood millions more could afford to become homeowners, and the number of homeowners in the U.S. could far exceed the current 63.4 percent. ## (News, Analysis, Fisking – below.)

FiskingFiskDefinitionYourDictionaryManufacturedHousingIndustryDailyBusinessNewsMHProNews

Editor’s Note: The spark for this article was our request to Julia Granowicz to do some research on MHI’s most recent Did You Know? feature.  What her research turned up was the latest example of flawed data, and unattributed information.  Please see the below.

 

 

NeatManufacturedHousingInstituteMHIdeaButComedyofErrorsPixabayDailyBusinessNewsMHProNews

Original photo credit, Pixabay, text and collage credit, MHProNews.com.

Please see the statistics MHI showed, in the screen shot from their most recent email, below.  Then, compare it to the actual list shown on Wikipedia, which is shown further below.

Does it look to you like the very first country MHI showed is wrong?  Plus MHI failed to give proper credit to the source?  Then, MHI slapped their own copyright notice on someone else’s data?

We Provide, You Decide.” ©

MHIManufacturedHousingInstittueDidYouKnowPercentageHousingUStoTop50CountriesWorldPostedMHProNews

You are entitled to your own opinions. but your are not entitled to your own facts.” – Daniel Patrick Monaghan.

Top50CountriesinWorldHomeOwnershipRatesWikipediaPostedDailyBusinessNewsMHProNews1878

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

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

 

 

 

 

 

 

Generational Buyers, Millennials, Boomers & Manufactured Homes

August 8th, 2017 Comments off

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

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

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

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

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

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

CorrectingRecordHousingAffordabilityHomeWordCloudMHIManufacturedConventionalHousingMHLivingNews660

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

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

2017HomeBuyersChartCreditsMHLivingNewsDailyBusinessNews

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

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

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

Things Are Not Always How They Appear At First Glance

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

GenerationsChartCreditsMHLivingNewsDailyBusinessNews

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

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

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

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


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

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

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

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

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

 

 

Americans On the Move – How Often? What are the MH Opportunities?

July 3rd, 2017 Comments off

AmericansAreMoving!ManufacturedHousingIndustryResearchDataReportsDailyBusinessNewsMHProNewsManufactured home professionals may not always realize how many people are ‘on the move’ in their market.

Not every mover in an area may not represent an opportunity to sell a home, or fill a leased site/home in a community.  But many – once they’re properly exposed to the realities of contemporary manufactured home living – discover they like what the industry offers, and will act positively.

How Often Do People Move?

The percentage of Americans moving over a one-year period fell to an all-time low in the United States to 11.2 percent in 2016, according to data released by the U.S. Census Bureau last November.

But that ‘low’ still means that almost 1 out of every 9 people you pass is going to make a housing change – in the next 12 months.

While some are last minute housing shoppers, National Association of Realtor figures suggest that home buyers start looking online months in advance of a housing transition.

Those advance shoppers are also often the more credit qualified buyers.

MovingInAmericaUSMovesCensusBureau2016ManufacturedHousingIndustryResearchDataReportsDailyBusinssNewsMHProNews

The numbers may be historically low, but they are still so common as to represent 1 out of 9 Americans moving annually. Those represent opportunities for manufactured and modular home professionals.

Details on People Moving

People in the United States are still moving, just not to the same extent as they did in the past,” David Ihrke said, a survey statistician in the Journey-to-Work and Migration Statistics Branch.

The decision to move can be personal and contextual. What causes one person to move might not be enough to convince another,” Ihrke said.

WhyDoPeopleMoveCensusBureau2013GraphicManufacturedModularHomeIndustryReportsResearchDataNewsMHProNews

According to the Census Bureau, among those who moved, 42.2 percent said they moved for a housing-related reason, such as wanting a new or better home/apartment.

By comparison,

  • 27.4 percent said they moved for a family-related reason,
  • 20.2 percent said they moved for an employment-related reason,
  • and 10.2 percent said they moved for some other reason.

Among the various regions in the U.S., the South saw the greatest number of people moving out (901,000), but also saw the largest inflow of people moving into the region (940,000).

The ratios, states the Census Bureau, was similar in other parts of the country.

The highest mover rates by race:

  • black or “African-American alone population” – 13.8 percent, and
  • Asian alone population” – 13.4 percent.

By comparison,

  • the “white alone” population moved at a rate of 10.3 percent, and
  • the Hispanic or Latino population (12.6 percent) were more mobile than the non-Hispanic white population (9.8 percent).

Geographic Mobility

The statistics came from Geographical Mobility: 2015 to 2016, a collection of national- and regional-level tables from the Census Bureau’s Current Population Survey Annual Social and Economic Supplement.

TomFathNewDurhamEstatesMillenialExplainsTheirSuccess

Still from video interview below.

Also published were updated historical tables and graphs on migration. Some of those statistics extended as far back as 1948, stated the Census Bureau report.

Tapping into the Opportunities Revealed by the Facts

The proper understanding of the market, what moves housing shoppers, and the correct mind-set are all important for a manufactured home professional,” says consultant and manufactured home industry veteran, L. A. ‘Tony’ Kovach.

The video interview with Tom Fath of New Durham Estates on this page demonstrates how changing a professional’s understanding and approach to marketing and selling can yield more credit qualified and cash customers.

The truth well told is powerful,” says Kovach. “What award winning operations like the Fath family’s has learned, is that there’s no need to exaggerate, over-promise, or under-deliver.  Those who do, suffer in the long run.  Those who learn more to earn more, often see sustained growth and success.” ##

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

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

NAR – Millennials Want Quality Affordable Homes to Buy in 2017

January 19th, 2017 Comments off
NARMillennialsWantQualityAffordableHomestoBuyin2017credtiMHLivingNews-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: MHLivingNews.

The times are changing, and so are the demographics.

Research from the National Association of Realtors (NAR) states that in 2017, more than half of all first-time homebuyers will be a millennial.

The Digital Journal and hundreds of other media and special interest websites have picked up the exclusive MHLivingNews story, “Millennials Will Surge Housing in 2017, Want to Buy Quality Affordable Homes.

The millennial generation is now the nation’s largest age group, according to the U.S. Census Bureau,” Arkansas State University said in a marketing report. “These young adults, between the ages of 18-34, are digital natives with enormous social influence and purchasing power. Millennials dominate the workforce and the consumer market.

The millennial influence shows in the numbers.

In sharp contrast with 2016, when only 33% of people planning to buy a home were first-time buyers,” said Realtor’s ® writer Cicely Wedgeworth, “52% of buyers with their eye on a home purchase next year will be first-timers. And 61% of those are under age 35.LindseyBostick-SunshineHomesManufacturedHousingIndustryDailyBusinessNewsMHProNews

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

The full story on MHLivingNews is linked here. ##

(Editor’s Note: Lindsey Bostick and Sunshine Homes will at the show in Louisville this week, offering tips for those who want to connect with the Millennials market in 2017. For more details, click here.)

(Image credits are as shown above.)

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RC Williams, for Daily Business News, MHProNews.

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

2014-2016 Manufactured Housing Industry, New Retail Home Pricing Trends by Region

August 29th, 2016 Comments off
USCensusBureauAffordableHousingManufacturedHousingIndustyRetailPriceTrendsReportPartI-ManufacturedHomes-com-MHLivingNews-postedMHProNews-

To see Part II of this report, please click here or the image above. Photo credit, ManufacturedHomes.com Text credit, MHProNews.

Data released by the U.S. Census Bureau reveals a mixed pattern in prices for new manufactured homes, depending on month, single vs. multi-sectionals and the region of the country.

For example, single sectional manufactured homes in the Northeastern United States in January, 2014 sold for an average of $48,700 in January 2014, while in March 2016, the average single sectional (“single wide”) sold for $45,100.

During the same time frame, a multi-sectional in the Northeast in January 2014 sold for an average of $92,600.  In March, 2016 the average mult-sectional (“double wides”) sold for $103,200.  In all cases, as is routine for manufactured home retail pricing, they are priced “home only,” without the cost of land, improvements to property, or site fees if land is leased for placement.

The full breakdown by region and total dollars for single and multi-sectional homes follows.

Northeast States
Total 1 Single Double
2014
January 72100.0 48700.0 92600.0
February 59100.0 40600.0 76200.0
March 76400.0 43100.0 91600.0
April 61300.0 44000.0 82500.0
May 62900.0 50200.0 76200.0
June 73800.0 47000.0 94900.0
July 57900.0 43900.0 73300.0
August 71700.0 43100.0 93600.0
September 71900.0 45000.0 88500.0
October 63400.0 50900.0 73600.0
November 80500.0 58000.0 98300.0
December 68100.0 55300.0 77500.0
2015
January 64700.0 45600.0 77200.0
February 66500.0 50000.0 88800.0
March 89000.0 52300.0 114000.0
April 69400.0 48900.0 88800.0
May 69500.0 46100.0 84700.0
June 68100.0 53200.0 90700.0
July 68000.0 47700.0 83100.0
August 73300.0 53600.0 94100.0
September 71600.0 54400.0 91400.0
October 77100.0 45100.0 95200.0
November 79000.0 52500.0 90600.0
December 74200.0 52100.0 95300.0
2016
January 69400.0 48100.0 90700.0
February 81500.0 50000.0 97300.0

“Total 1” represents the combined average price in dollars of single and multi-sectional homes.

Midwest States
2014 Total1 Single Double
January 72,000 51,400 88,200
February 59,700 44,800 86,100
March 58,100 45,100 81,800
April 59,100 45,700 78,500
May 61,700 46,800 79,600
June 58,700 45,600 81,200
July 61,600 45,200 77,800
August 60,200 46,800 80,900
September 59,000 41,600 78,500
October 64,500 50,900 78,700
November 61,600 47,600 84,700
December 57,000 45,600 72,900
2015
January 57,000 43,700 78,300
February 59,600 47,500 80,600
March 60,900 47,400 86,400
April 59,700 47,900 75,000
May 61,800 43,000 92,600
June 60,500 45,900 84,200
July 62,600 48,500 84,600
August 61,600 45,700 90,000
September 63,900 50,600 83,900
October 56,500 43,100 79,700
November 61,100 47,300 84,500
December 63,300 46,600 85,900
2016
January 61,400 48,200 86,800
February 57,900 45,600 85,100
March 59,200 46,200 83,200

As might be expected, prices were lowest in the South, somewhat higher in the Midwestern states, and the hightest in the Northeast and the West.

Southern States
2014 Total1 Single Double
January 63,800 46,900 80,700
February 62,200 44,800 79,700
March 63,600 42,400 82,100
April 66,100 43,900 81,300
May 64,000 44,200 76,100
June 62,600 44,600 81,000
July 61,200 45,700 77,800
August 66,400 43,300 87,800
September 66,000 44,500 80,900
October 59,000 44,400 74,700
November 59,100 39,900 78,300
December 62,000 45,500 75,000
2015
January 64,600 44,900 79,400
February 65,900 45,600 84,200
March 63,200 44,100 80,300
April 64,700 46,800 82,200
May 68,100 49,000 85,600
June 66,100 44,000 83,700
July 59,800 42,900 78,400
August 62,800 39,400 80,700
September 68,500 46,800 85,500
October 65,500 43,200 82,200
November 63,200 42,500 84,000
December 69,200 45,700 85,500
2016
January 65,200 44,600 80,200
February 65,300 43,000 89,700
March 69,600 44,100 86,300

As most industry professionals know, the 40th anniversary of the production of HUD Code manufactured homes began on June 15, 1976, to learn more, click here.

Western States
Total1 Single Double
2014
January 87,700 55,400 93,900
February 79,600 48,800 90,800
March 84,400 46,700 90,300
April 77,100 47,600 92,900
May 77,400 49,000 88,900
June 82,300 44,200 92,300
July 79,300 45,200 92,900
August 75,400 45,800 88,900
September 80,200 39,900 90,100
October 77,100 47,100 84,700
November 84,800 57,400 95,100
December 86,900 52,600 91,800
2015
January 102,500 42,600 107,700
February 90,200 45,500 99,600
March 79,300 53,600 96,600
April 89,600 45,100 111,100
May 83,400 44,200 100,700
June 93,700 46,700 102,800
July 88,200 46,800 101,000
August 89,200 48,200 106,400
September 90,100 49,700 97,900
October 78,900 47,300 95,400
November 96,100 51,000 110,300
December 84,400 44,600 96,400
2016
January 86,900 50,000 96,100
February 84,800 45,400 106,600
March 83,200 42,500 97,000

Totals in dollars for all four regions used by the U.S. Census Bureau, are as follows.

United States
Total1 Single  Double
2014
January 68,300 48,000 84,500
February 64,300 45,000 82,200
March 65,700 43,200 83,900
April 66,400 44,700 83,000
May 65,400 45,700 78,300
June 65,200 44,900 84,000
July 63,500 45,400 80,100
August 67,100 44,200 87,600
September 67,000 43,600 82,600
October 62,400 46,000 76,900
November 64,200 43,700 83,500
December 64,800 46,200 78,100
2015
January 68,400 44,600 84,400
February 68,300 46,200 87,000
March 66,200 46,100 85,000
April 67,400 46,900 86,500
May 69,500 47,300 89,100
June 69,100 45,500 87,500
July 64,500 44,400 83,700
August 67,000 42,900 87,100
September 70,700 48,400 87,700
October 66,800 43,800 84,900
November 68,000 44,300 89,400
December 70,800 46,200 88,100
2016
January 67,600 45,900 84,100
February 67,600 43,900 92,600
March 69,800 44,500 88,300

By comparison, the U.S. Census Bureau’s latest report showed the following figures for number of new conventional construction or “site built” housing sales by price ranges in March 2016 as follows in the chart below.  The figures are rounded, and are thousands of units per price range.  Notice that only some 2,000 units were sold under $150,000.

TotalConventionalHousingSalesByPriceRangeMarch2016-USCensusBureau-postedDailyBusinessNewsMHProNews-

Source – U.S. Census Bureau data.

Clearly, there is room for growth for manufactured housing in this era of the growing affordable housing crisis. A download of the manufactured housing data above is available at this link.

The latest U.S. Census Bureau data for “residential” (single-family, conventional, on site construction) of new houses can be downloaded from this link here.

To see Part II of this multi-part series on manufactured housing industry statistics, please click here. ##

(Image credits are as shown above.)

(Editor’s Note: Matthew Silver is taking some much needed and well-earned time off, and L. A. “Tony” Kovach will be helping fill the Daily Business News role in the interim).

l-a-tony-kovach-daily-business-news-mhpronews-

L. A. ‘Tony’ Kovach is the publisher of MHProNews.com and MHLivingNews.com.

Article submitted by L. A. “Tony” Kovach, to the Daily Business News for MHProNews.