The Manufactured Housing Association for Regulatory Reform (MHARR) informs MHProNews that statistics compiled on behalf of the Department of Housing and Urban Development (HUD) reveal production of HUD Code manufactured homes (MH) increased 26.9 percent in March 2016 over March 2015, 7,110 homes in 2016 over 5,602 homes last year.
Totals for the year have hit 19,101 as compared to 15,374 homes at this point last year, a 24.2 percent increase over last year.
MHARR says the billowing production growth of MH is indicative of the demand for affordable housing despite the lack of “federally-based securitization and secondary market support for manufactured housing chattel loans as part of the ‘Duty to Serve’ (DTS) mandated by Contgress in 2008.”
MHARR adds that the current dominant lenders appear to more more interested in maintaining their higher-cost market share than expanding the MH financing market to include more lenders and thereby more buyers who would be “enticed into the market by non-discriminatory federal securitization and secondary market support.” ##
(Photo credit: Manufactured Housing Institute–MH under production)
