Frank Rolfe Denounces Special Interests-‘Don’t Tell Me We Can’t Solve Affordable Housing’ Truth is ‘We Don’t Want to Solve Affordable Housing’ Calls UMH-Landy Plan ‘Asinine’ plus MHMarkets
“So don’t tell me “we can’t solve affordable housing” because the correct statement is “we don’t want to solve affordable housing.” So said “Frank and Dave” in an emailed memo dated 6.7.2024. Give some people enough rope, and wittingly or not, they may hang themselves. In the course of hanging themselves, some may be dragging others along with them for the proverbial nose. Like him or not, agree with Frank Rolfe and his business partner Dave Reynolds or their business model for manufactured home communities or not, Frank Rolfe is popular among numbers of investors and community owners. Needless to say, Rolfe is denounced by significant numbers of the residents of properties he and Reynolds have owned and operated under an array of different business names. Rolfe may well be one of the more quoted individuals in the manufactured home community sector in the 21st century as a result of these competing dynamics. Rolfe has been featured by numbers of mainstream news sources and pundits, including characters apparently based on Rolfe and the satirical romp dubbed “Mobile Homes” on HBO’s Last Week Tonight with John Oliver. Rolfe is seen and promoted by some in MHVille as a straight talker. With that backdrop, what follows is from the latest installment (6.7.2024) by Rolfe and Reynolds on manufactured home industry commentary. What this analysis and commentary will reveal among other items is how his latest “memo” is ironically as critical of themselves as it is of the Manufactured Housing Institute (MHI), other nonprofits, special interest groups, politicians and bureaucrats. The obvious cheap shot of insulting name calling (which is a logical fallacy or error in reasoning) employed by Rolfe of a plan advocated by Sam Landy, CEO of the UMH Properties as “asinine” is but one of several possible pull quotes by Rolfe that in that example was deployed against a fellow MHI member. It might be worth noting that Rolfe labeling Landy’s plan “asinine” is a shot at a rival firm that is roughly the same size as their business has achieved, but UMH has apparently achieved their level of success without the same negative media, resident pushback, and legal drama that Rolfe and Reynolds have generated.
Meaning, perhaps on some subtle level, Rolfe slurred someone who is successfully advocating for a path that undermines their own business model’s claims to fame. Equally ironic or perhaps hypocritical by Rolfe is the point that the Landys and UMH are attempting with success to show one way that develops more affordable housing. That is the claimed focus of the “Frank and Dave” memo.
Restated, Rolfe and Reynolds “memo” and one of their “analysis” of a news item about Sam Landy and UMH shows just how self-contradictory they can be. Who says? How about artificial intelligence powered Bing Copilot? That and more will be shared and unpacked in Part II.
In Part I of this report with fact check and analysis is the “memo” from Frank and Dave that provided the headline paraphrases:
Frank Rolfe Denounces Special Interests-‘Don’t Tell Me We Can’t Solve Affordable Housing’ Truth is ‘We Don’t Want to Solve Affordable Housing’ – while Rolfe (or “Frank and Dave,” whatever) may have a point, they also apparently have three fingers pointing back at themselves as will be revealed in Part II, based on their own words.
Rolfe calling UMH Properties plan pitched by Samuel “Sam” Landy, J.D. “asinine” will also be explored in Part II. Name calling without evidence is a crude method that may seemingly work in the minds of some, but is hardly proof of Rolfe’s complete stated claim, which is provided and then examined in the light of known facts.
Following the added information and analysis in Part II will be our Daily Business News on MHProNews market report in Part III.
Part I
A Quick Memo from Frank:
You can’t solve the U.S. affordable housing crisis given the current tools. American incomes cannot support $400,000 homes and $2,000 apartment rents. Not even close. How did we end up in such a mess? The reality is that we are a country that has created a monster when it comes to having a roof over your head.
But there’s nothing more annoying than watching state and federal bureaucrats and non-profits that come up with ideas that don’t have a prayer of working and just throw good money after bad. And this week’s news articles are a cornucopia of such idiocy.
If you want to solve U.S. affordable housing you would have to eliminate all the barriers, from the Uniform Building Code to zoning restrictions, and let the free market take over. Next thing you’d know, smart entrepreneurs would build 3-D printed home subdivisions and other novel, new ideas and the price of homes would plummet to $100,000 or so based on the power of capitalism and competition. But, of course, that’s not going to happen, and we all know it. So don’t tell me “we can’t solve affordable housing” because the correct statement is “we don’t want to solve affordable housing”. There are too many special interests – both inside and outside the government – to ever let that happen.
We hope you enjoy this edition. Let us know of any thoughts or questions!
Sincerely,
Frank & Dave ##
Part II – Additional Information with More MHProNews Analysis and Commentary
The screen capture of the Frank and Dave memo is here, including evidence that they are MHI members. Note that in the list of things that “smart entrepreneurs would build 3-D printed home subdivisions and other novel, new ideas” there is no mention of using HUD Code manufactured homes in dramatically larger numbers to create more affordable housing? Note too that no evidence is offered to support their claim that unleashing such “free market” forces would cause “the price of homes would plummet to $100,000 or so based on the power of capitalism and competition.” While their broad points about unleashing the free market have some merit, they undermine their own argument by exaggerated and failure to support their claim, not to mention the apparent hypocrisy that will be explored in this segment below.
Before going into the weeds, truth telling requires that Frank Rolfe and Dave Reynolds be acknowledged as arguably effective self-promoters. Agree or not, an aspect of their version of news analysis above and below is apparently to use some news item to drive home one or more aspect of their marketing pitch for investing in “mobile home parks,” “trailer parks,” and rail against those who push rent control or other notions that run contrary to what they want to see occurring in the marketplace.
In no particular order of importance are these evidence-based observations with the facts and additional information linked.
1) What makes this interesting is that Rolfe, who has a point about the need to unleash housing production to solve the affordable housing crisis is revealing his apparent hypocrisy and is self-contradictory to his own prior pitch. The following two reports were uploaded circa September 5, 2019. The contradiction between ‘never building a mobile home park’ and his statement above: “If you want to solve U.S. affordable housing you would have to eliminate all the barriers, from the Uniform Building Code to zoning restrictions, and let the free market take over” are logically polar opposites. So, when Rolfe slammed what he called “a cornucopia of such idiocy” he is ironically slamming himself, Reynolds, and all of those who are following his self-declared business model.
2) To illustrate how apparently illogical and self-contradictory (think, arguably hypocritical) the memo in Part I is, the following Q&A with left-leaning Bing’s AI powered Copilot occurred.
Copilot, on 6.7.2024 Frank Rolfe and Dave Reynolds sent out an email that said the following. “A Quick Memo from Frank: You can’t solve the U.S. affordable housing crisis given the current tools. American incomes cannot support $400,000 homes and $2,000 apartment rents. Not even close. How did we end up in such a mess? The reality is that we are a country that has created a monster when it comes to having a roof over your head. But there’s nothing more annoying than watching state and federal bureaucrats and non-profits that come up with ideas that don’t have a prayer of working and just throw good money after bad. And this week’s news articles are a cornucopia of such idiocy. If you want to solve U.S. affordable housing you would have to eliminate all the barriers, from the Uniform Building Code to zoning restrictions, and let the free market take over. Next thing you’d know, smart entrepreneurs would build 3-D printed home subdivisions and other novel, new ideas and the price of homes would plummet to $100,000 or so based on the power of capitalism and competition. But, of course, that’s not going to happen, and we all know it. So don’t tell me “we can’t solve affordable housing” because the correct statement is “we don’t want to solve affordable housing”. There are too many special interests – both inside and outside the government – to ever let that happen. We hope you enjoy this edition. Let us know of any thoughts or questions! Sincerely, Frank & Dave”
But Copilot, isn’t what Frank and Dave wrote seemingly hypocritical and self-contradictory? Rolfe has made the claim that no one should build a new manufactured home community, which he called a mobile home park. https://www.manufacturedhomelivingnews.com/frank-rolfe-says-why-you-should-never-build-a-mobile-home-park-seriously-fact-check-and-analysis/ https://www.manufacturedhomepronews.com/investors-frank-rolfes-mobile-home-u-thinking-on-why-you-should-never-build-a-mobile-home-park/ He has also deliberately borrowed the language of Warren Buffett about developing a moat, and creating a local monopoly by limiting competition that results in driving up costs for residents of the properties that follow their business philosophy: https://www.manufacturedhomepronews.com/mhaction-demand-letter-to-impact-communities-dave-reynolds-frank-rolfes-partner-calls-on-manufactured-housing-institute-to-cancel-impact-communities-mhi-membership-hypoc/ Can you unpack those two seemingly self-contradictory claims? If Rolfe were more consistent, wouldn’t he be following a philosophy closer to what Eugene and Sam Landy have promoted in a recent earnings call that calls for 100,000 new communities? https://www.manufacturedhomepronews.com/umh-properties-fq4-2023-earnings-call-transcript-sam-landy-expansions-greenfield-development-significantly-outperform-stabilized-properties-eugene-landy-build-100000-communities-plus-mhm/ Using the appropriate phrasing for such a fact-based analysis (e.g.: “purported” “alleged” etc.), use that logical analysis you have built into your AI to see if Rolfe and Reynolds are apparently contradicting themselves or not. To me, it certainly seems that they are on both sides of the proverbial fence.
Affordable Housing Crisis and Eliminating Barriers:
Frank and Dave argue that the U.S. affordable housing crisis persists because of bureaucratic inefficiencies and a lack of willingness to eliminate barriers.
They advocate for letting the free market take over, envisioning innovations like 3-D printed home subdivisions that could significantly reduce home prices.
Frank Rolfe’s Stance on Mobile Home Parks:
Frank Rolfe has publicly criticized building new mobile home parks (manufactured home communities).
He argues that mobile home parks face negative perceptions and are not a viable solution for affordable housing.
Borrowing from Warren Buffett’s “Moat” Concept:
Frank Rolfe has invoked Warren Buffett’s concept of a “moat” (a competitive advantage that protects a business from competition).
He suggests that mobile home parks have a “moat” due to zoning restrictions and the lack of new park development.
Eugene and Sam Landy’s Call for 100,000 New Communities:
Eugene and Sam Landy advocate for building 100,000 new communities.
Their approach aligns with addressing the affordable housing crisis by expanding housing options.
Analysis:
Frank Rolfe’s position on mobile home parks seems inconsistent with his advocacy for eliminating barriers and embracing capitalism.
If mobile home parks have a “moat,” as he suggests, then they should be a viable solution for affordable housing.
Eugene and Sam Landy’s call for new communities aligns with the idea of addressing housing shortages through expansion.
Frank Rolfe’s stance appears contradictory when compared to the Landys’ approach.
3) Rolfe recently told Andrew Keel that he and his partner currently have about 10,000 home sites, which would be fewer than UMH Properties has, but they previously had more home sites than UMH Properties report. But then or now, both UMH and the Rolfe-Reynolds duo seem to both be “top 10″ community operators as measured by home sites.
4) This isn’t the first time that Rolfe has made apparently hypocritical remarks. When Rolfe slammed then MHI chair Nathan Smith, he might as well have been pointing a finger at himself.
5) Despite such apparent hypocrisy, there is no known sanctioning of Impact Communities or other enterprises involving Frank and Dave by MHI. It is just another example of hypocrisy involving not only Frank and Dave, but MHI itself which claims to have a “Code of Ethical Conduct.” Meaning, it isn’t just Frank and Dave that behave in a self-contradictory manner, MHI does too by giving awards to firms that may have poor Better Business Bureau (BBB) or other ratings.
6) The day may come when a wave of litigation or regulatory/legal actions catches Rolfe, Reynolds and others into something a step higher than the antitrust suits that are already underway against certain MHI members.
7) MHProNews has been and remains, along with MHLivingNews, the sole trade media source that exposes such contradictions, cronyism, ethical or legal concerns, and hypocrisy. While readers decide what becomes a top article and what doesn’t, based upon years of experience, it would not be a surprise if this report joins the next ‘most read’ reports in MHVille.
8) Traffic month-to-date in June 2024 is up significantly over the same timeframe last year. Industry pros apparently want to know what others are not reporting, or in some cases, even attempting to project the opposite.
9) It is worth noting that UMH Properties and Eugene and Sam Landy have recently promoted the notion that there should be more manufactured home communities developed. The Landys have not said that just a few should be developed. Rather they have made the rather public argument that as an industry 100,000 new manufactured home communities (MHCs) should be developed. That would mean roughly tripling the number of MHCs, which per FEMA and George McCarthy at the Lincoln Institute for Land Policy has put at something over 50,000 MHCs nationally. Put differently, there is now two very different ‘camps’ in the land-lease community sector. In one camp is Rolfe and Reynolds and numbers of consolidators of land-lease communities. They believe that severely limiting new development of MHCs is an advantage. Then there is the Landy-UMH Properties view which promoted, at least recently, the notion that developing new properties with new homes can produce a greater rate of return than buying existing properties and doing what’s necessary to upgrade and improve them.
10) Rolfe and Reynolds are intelligent fellows. But they have what has been described as a predatory and self-serving business model. Therefore, they are often viewed as a black eye to the industry, as Rolfe’s own remarks about Nathan Smith revealed. That predatory behavior is what fuels the kind of legislative, media, and legal efforts that have caused negative media to be more common in MHVille in the 21st century than was seemingly the case during parts of the 20th century. So, ironically and/or hypocritically, while seemingly acting as a champion for the free market, they are sparking the kind of pushback to by their behavior that is harming access to affordable housing.
11) To the point raised by SECO-linked David Roden, it seems that part of the problem is that certain members of the MHC sector are willing to engage in so-called predatory practices that give the industry a bad name among some segment of the public. Anyone who looks at comments posted on videos or in reviews of certain ‘predatory’ firms online reveals that vexing reality.
12) Again, in fairness, the Rolfe and Reynolds version of this business model is hardly unique. Others among MHI’s consolidating members have accused with evidence of similar behaviors as reports linked here and here indicate.
13) Manufactured housing is unperforming. Rolfe knows it and has blamed MHI. But what Rolfe hasn’t done is admit that he, Reynolds, and others like them are contributing to that pattern. To learn more, see the linked and related reports.
14) Notice: in contrast to Rolfe’s ad hominem (name calling) attack on UMH CEO Landy, the article below asks the question – could MHI leaders have been moreincompetent if they tried to be incompetent at advancing manufactured housing? In that and numerous other such-fact checks, not only is evidence given. But it is acknowledged that those leaders are intelligent people with experience. Meaning, they ought to know better. If someone wants to expose or slam some person or entity, they should bring evidence and do so in a balance fashion that stands up to scrutiny.
15) MHProNews brings the evidence that our readers crave. We don’t just ‘name call’ or slur some person or organization. We provide context, and then examine the issues in a methodical and reason-based (logical) fashion. In the last roughly year, that has been buttressed with analysis using AI, so not only our analysis is provided, but a third-party check of that analysis is offered by using another firm’s AI system. Other than MHLivingNews and MHProNews, who else in MHVille invests this amount of time and effort to reveal why the industry is underperforming during an affordable housing crisis?
That said, Rolfe’s rant does have some crude utility. Noting some of the errors pointed out herein above, he is not wrong in saying that some affordable housing plans advocated by certain nonprofits, educators, or public officials are:
“ideas that don’t have a prayer of working and just throw good money after bad.”
“If you want to solve U.S. affordable housing you would have to eliminate all the barriers, from the Uniform Building Code to zoning restrictions, and let the free market take over.”
“So don’t tell me “we can’t solve affordable housing” because the correct statement is “we don’t want to solve affordable housing”. There are too many special interests – both inside and outside the government – to ever let that happen.”
Rolfe and Reynolds are apparently among those “special interests.” They don’t seem to want to solve the affordable housing crisis either, because they could easily be promoting “enhanced preemption” under the Manufactured Housing Improvement Act of 2000 (a.k.a.: MHIA, 2000 Reform Act, etc.). There are apparently some in the federal government who are aware of this option, but they have ignored it (doubtlessly for reasons that Rolfe’s “memo” said is due to “too many special interests – both inside and outside the government – to ever let that happen.”
To see the next two images in a larger size, depending on your device, click the image and follow the prompts.
16) When Rolfe and Reynolds memo argued for repealing the ICC, a curious argument for someone in manufactured housing to advance, or removal of zoning barriers – all that Rolfe had to do was press the case for more developing using manufactured housing by robustly using the already existing MHIA and its enhanced preemption provision. The MHIA’s enhanced preemption provision already does what Rolfe claims should happen if the affordable housing crisis is to be solved. The Frank and Dave memo is thus a mish-mash of accurate and inaccurate (think paltering, red herrings and other logical fallacies) items that only kick the can down the road, while he and his cronies continue to consolidate the industry to their heart’s content. Deep pocketed ‘special interests,’ per the Senator Elizabeth Warren’s letter linked in the report here, are among those who have apparently benefited Rolfe and Reynolds. Can you spell posturing, paltering, projecting, and head fake?
17) Quoting the headline and preface remarks from the Rolfe and Reynolds memo: “So don’t tell me “we can’t solve affordable housing” because the correct statement is “we don’t want to solve affordable housing.” Curiously, they are arguably correct about that point, even as some fingers are pointing back at themselves and those like themselves. See the linked reports to learn more. ##
Our Daily Business News on MHProNews stock market recap which features our business-daily at-a-glance update of over 2 dozen manufactured housing industry stocks.
This segment of the Daily Business News on MHProNews is the recap of yesterday evening’s market report at the closing bell, so that investors can see-at-glance the type of topics may have influenced other investors. Our format includes our signature left (CNN Business) and right (Newsmax) ‘market moving’ headlines for a more balanced report.
The macro market moves graphics below provide context and comparisons for those invested in or tracking manufactured housing connected equities. Meaning, you can see ‘at a glance’ how manufactured housing connected firms do compared to other segments of the broader equities market.
In minutes a day, readers can get a good sense of significant or major events while keeping up with the trends that may be impacting manufactured housing connected investing.
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Notice: MHProNews invites the firms named in these reports to respond to any concerns about possibly inaccurate information via email that identifies the concern and offers evidence that sheds a different light on the topic discussed. That said, until 5.9.2024, neither MHI nor most MHI publicly traded ‘insider brands’ have done so. They’ve been repeatedly invited to do so, including but not limited to an outreach on Dec 7, 2o23 and Feb 25, 2024.