Breaking News — Measure to Preserve Access to Affordable Manufactured Housing Clears Key Hurdle in U.S. House
On May 22nd, the U.S. House Financial Services Committee passed the bipartisan Preserving Access to Manufactured Housing Act (H.R. 1779) to protect the ability of manufactured home customers to buy, sell and refinance affordable manufactured homes, the largest form of unsubsidized affordable housing in the nation. Specifically, the bill would amend the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) to address the criteria by which home loans are classified “high-cost” while keeping in place strong consumer protections. Sponsored by Representatives Stephen Fincher (R-TN), Bennie Thompson (D-MS), and Gary Miller (R-CA), the bill is also supported and cosponsored by an additional 110 House Members on both sides of the aisle.
Congress & Expo General Session Speaker Chris Fisher’s Presentation Posted on the Congress & Expo Web site
The presentation from the 2014 Congress & Expo’s Thursdaymorning general session speaker, Chris Fisher, Managing Principal at Ducker Worldwide, has been posted on the Congress & Expo Web site. Click here to view the presentation. Mr. Fisher delivered a data packed presentation that forecasted growth for the industry in the future. He stated that we are five years into recovery from the recent “great recession” which was one of the longest recessionary periods over the past 30 years. However, residential housing spending is not tracking with the total economy. He reviewed the key drivers for housing demand – population, household formation, GDP and employment health, and spending. He then equated these drivers to trends that would favor affordable housing.
Fisher showed that household formations are increasing over levels seen during the past 20 years and employment levels are also increasing. The increase in part-time employment vs. full-time employment will increase demand for affordable housing. Housing shortfalls are indicating a level of pent up demand, and apartment occupancy and rents are at high levels. Builders and multi-family developers are struggling to develop and manage offerings for the entry level, affordable home buyer. He concluded that the market has set itself up for a high demand for affordable housing and that the manufactured housing industry specifically should see growth during the next four to five years. Lastly, he talked about how the industry can accelerate growth through focusing on the customer.
In addition, the handouts from the twelve educational workshops held during the Congress & Expo on Wednesdayand Thursday can be viewed on MHI’s Congress & Expo Web site at www.congressandexpo.com. The programs focused on consumer financing, commercial lending, regulatory compliance, sales and marketing, business financial management, energy efficiency, and community management issues.
CBS Sunday Morning Features Report on Manufactured Housing
MHI provided material for a CBS Sunday Morning report that ran on May 18th on affordable, quality homes and great communities. Click here to view the video. If the video does not play, you may need to cut and paste the link into another browser.