Is the Sky Falling on Manufactured Housing?

The Wall Street Journal says as interest rates remain low and the housing recovery continues to pick up, more people will be buying traditional houses instead of manufactured homes. Citing the drop in production of manufactured homes the last two months following 16 months of consecutive industry growth, and the fall in earnings of two of the biggest MHC owners nationwide in the last three months, analysts say it’s the high interest rate on MH that is causing the drop, especially compared to conventional mortgages. While they expected the climb to continue, they are far from dismayed. Sam Landy, president of MHC owner UMH Properties, Inc., while noting the “real boom in sales” is not here yet, remains confident, adding manufactured home sales are up 33 percent since 2009. Monthly rentals comprise 11 percent of UMH’s portfolio, an increase from under nine percent in 2009. As MHProNews knows, UMH owns a portfolio of 41 properties comprised of over 9,000 home sites.

(Photo credit: Wall Street Journal/UMH Properties, Inc.)

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