Manufactured home builders are currently facing the same challenges as traditional home builders, including material cost increases, supply-chain disruptions, and labor shortages. However, opting for factory-built housing options to solve America’s housing shortage seems like a great idea. Whether we refer to modular or manufactured homes, these housing options have gained more and more popularity over the past decade mainly because they usually take less time to complete and are less expensive than conventional site-built construction.
Manufactured Housing News
Millennial homebuyers have finally become the dominating force in the housing market. But one important aspect is that these homebuyers prefer different types of homes in different types of neighborhoods than their parents and grandparents did. Unlike previous generations, which predominantly bought conventional homes in big cities, millennials prefer factory-built homes that are located in the suburbs or rural areas. To better understand the trends that are shaping the housing market right now, let’s take a look at the most important factors that influence millennials to purchase a manufactured home.
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.