The current health crisis is wreaking havoc on the economy and people’s lives. According to industry data, about 30% of households have failed to make their full housing payments over the past few months. Even before the pandemic, about 70% of renters were severely cost-burdened, struggling to cover their rental obligations, monthly utilities, and necessities like food, clothing, medical care, and transportation.
Manufactured Housing News
During an economic downturn, people tend to cut spending and postpone big purchases, like cars and homes. But even though we’re currently facing a decline in economic activity, many people are planning to buy a home within the next few months. Conversely, many financial institutions are originating fewer auto loans despite rock-bottom interest rates.