Centralization. Globalization. Immigration.
Those three words sum up much of what “the establishment” of both major political parties have actively or passively accepted and/or promoted for decades. Those three words also help explain how Washington, D.C. has become more remote from the people it is supposed to serve. Those three words help explain why wages have been stagnant for so many years.
Those words are not considered often enough by millennials, or any other group, in the U.S. today. But they should be pondered as part of the solution in understanding why the world’s wealthiest nation doesn’t even rank in the top 40 countries on earth in the rate of home ownership.
These irksome realities are educational opportunities in disguise. So too are specific items about the millennial generation, that over the next 3 to 4 decades will ‘inherit’ an estimated $30 trillion dollars. Accenture says that $30 trillion will be the largest transfer of wealth, ever.
Morning Brew and the Visual Capitalist provided the data for the following infographic. Note the relatively low amount being invested in housing?
“Record low numbers of millennials think buying a home is a good investment—here’s why. America’s attitude towards home-ownership is changing. Only 48 percent of millennials (age 21-36) believe that buying a home is a good investment, according to the latest ValueInsured Modern Homebuyer Survey,” per CNBC on Aug 23, 2018.
CNBC provided the following infographic.
With that vexing tee up, consider the VC/Morning Brew infographic on the investment habit trends of millennials.
These factoids represent monumental opportunities in disguise. What are you doing to tap it in your market(s)?
As a plug, we know from experience how to attract this audience, and the others, and move them from curious to home owners. It’s obvious from shipment data that others in our HUD code manufactured and modular home industry either don’t understand how the attraction of millennials are accomplished, or they have some other reason why they’ve left millions stuck in rentals. To learn more about our services, click here.
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Washington, D.C., January 3, 2019 – The Manufactured Housing Association for Regulatory Reform (MHARR) reports that according to official statistics compiled on behalf of the U.S. Department of Housing and Urban Development (HUD), HUD Code manufactured home production declined once again in November 2018.
The “Need For Quality Affordable Housing Has Never Been Greater,” Says LT – manufacturedhomelivingnews.com
The headline is missing two words from the original that was provided to MHLivingNews by Lending Tree (LT), via a news media release. Those missing two words? ” In Miami.” While that was accurate, it is equally accurate for the vast majority of the U.S. today, thus our edit of those two words.
In all 50 states, it is difficult for renters to afford rental housing, based upon a wage of $15 an hour. According to the National Association of Realtors, the typical renter could own a manufactured home for less than the cost of their rent.