Chrisman points out in part that the gap between new conventional housing and resales has hit a $70,000 price differential. That’s the biggest spread since the National Association of Realtors (NAR) and the U.S. Department of Commerce started tracking figures in 1968.
Kelly Brady, Vice President of credit and underwriting at Freddie Mac Multi-Family, thought doing business with manufactured housing (MH) communities was so important, that he planned his wedding around MHI’s Congress and Expo (C&E) last spring.
“We needed to prove to the MHC industry that we could be a reliable capital source in this particular market segment,” Brady stated on the Freddie Mac Multi-Family blog.
The annual Manufactured Housing Institute (MHI) event in Las Vegas attracted the kind of audience Brady and Freddie Mac wanted to foster relationships with. “So – I kid you not – I actually planned my wedding around the conference! Rather than doing a destination wedding and missing the conference, my fiancée and I agreed to get married in Vegas. And that’s exactly what we did the day after the conference ended. I hope you agree, that’s dedication.”
That’s an amazing way of stating, we see Manufactured Housing and MHCommunities (MHCs) as a significant part of the future of American housing. Brady went onto say he met MHC industry veteran, Erik Hagen of Cobblestone Real Estate at C&E, and they’ve begun forging that and other industry relationships.
Combine the facts Chrisman referenced – a $70,000 price gap between new and resale conventional housing and – Brady’s insightful tale of commitment, and manufactured housing professionals, investors and enthusiasts see anew the reasons why manufactured housing is poised for future growth. These spell current MH and MHC opportunities. ##
Related story – linked here.
(Image credits: Fredric Bisson/FlickrCreativeCommons – forging metal – and Freddie Mac Multi-family logo)
