As we head into the next decade, the US will be faced with a continuing epidemic in the area of affordable housing. With housing prices skyrocketing in many areas, many would-be buyers have been forced out of the market. At the same time, zoning and HOA guidelines have put a damper on some of the most affordable housing options, regulating them to designated areas only. And then there's the issue of public perception. What options are available that are affordable without succumbing to poor quality? This is exactly the issue that many experts are taking on today.
Manufactured Housing News
For any bank or credit union looking to improve their investment portfolio over the next few years, manufactured home loans pose a unique opportunity. Manufactured home loans offer more flexibility and higher yields than traditional mortgages, and despite some myths about manufactured homes, they are actually in high demand these days. Here's why you need to be thinking about manufactured home loans for the future of your portfolio.
Just a decade ago, many people used to prefer site-built construction to manufactured homes particularly due to the stigma of “trailer” living that was erroneously associated with manufactured housing. Because manufactured homes have evolved significantly over the years, they’re completely different from the old-style factory-built housing types. In fact, modern manufactured homes comply with the same quality, safety and design standards as a conventional site-built house. As a result, manufactured homes provide one of the best solutions to the current affordable housing crisis.