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MIT Answers – What’s the Minimum Needed by Family of Four for Housing, Food in Each State in U.S.?

MITAnswersWhatMinimumNeededFamily4FourForHousingFoodEachStateUSManufacturedHousingMHProNews

MIT is the famous and widely respected Massachusetts Institute of Technology.  They recently provided an update to what they call their “living wage calculator.”

The data shown is from CNBC based upon their use of MIT’s methodology.

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For those who look and say, ‘that’s too low,’ keep the following in mind.

The MIT Living Wage Calculator “…determines the minimum amount necessary to meet basic needs without dipping into poverty or relying on outside help.”  It doesn’t include restaurants meals, vacation or money left for savings and investment.

MIT explains that “It is a market-based approach that draws upon geographically specific expenditure data related to a family’s likely minimum food, childcare, health insurance, housing, transportation, and other basic necessities (e.g. clothing, personal care items, etc.) costs. The living wage draws on these cost elements and the rough effects of income and payroll taxes…”

  • For two adult families where both adults are in the labor force, both adults are assumed to be employed full-time.
  • Full-time work is assumed to be year-round, 40 hours per week for 52 weeks, per adult.

The Daily Business News on MHProNews make the obvious point at the end of this infographic.

MITLivingWageCalculatorMassInstituteTechCNBCHousingFoodEachStateManufacturedHousingMHProNews

The data, as noted, is for the minimum needed, vs the average or mean cost of housing in those same states. The figures shown routinely work for manufactured home sellers.  They routinely don’t work for conventional new home sellers but work somewhat better for existing home sellers.  MHProNews has made this point below for years.

ManufacturedHomesGAO2014ReprotCompareApartmentsSingleFamilySiteBuiltHousingManufacturedHomesMHLivingNews
https://www.manufacturedhomelivingnews.com/researchers-shake-up-american-dream-rent-vs-buy-ken-johnson-florida-atlantic-university-exclusive-to-manufacturedhomelivingnews/

HUD Secretary Ben Carson said it like this.

HUDSecretaryBenCarsonAffordableHousingManufacturedHomesQuotesManufacturedHousingConferenceMHProNews

 

HUDSecretaryBenCarsonAffordableHousingSupplyDemandCostSavingsFHFAAppreciationSustainableOwnership5000renters200000OwnersQuotesMHProNews
To see Secretary Carson’s entire address, click here.

There’s a good case to make that Secretary Carson is right.

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For newcomers to the website not familiar with modern manufactured homes, learn more by clicking the image above or the link here.

So why is manufactured housing struggling?  Among the reasons is a point made by controversial Frank Rolfe, who was nevertheless correct about the following.

FrankRolfeNegativeArticlesOnIndustryNoCommentbyManufacturedHousingInstituteMHIRVHorizonsMobleHomeUniversityPostedDailyBusinessNewsMHProNews-575x132
https://www.manufacturedhomepronews.com/frank-rolfe-blasts-mhi-for-poor-media-engagement-industry-reactions/

Carson’s comments are not on the MHI website again today. Frank, when you are right, you are right.

What’s MHI thinking? Or are they working to suppress performance while posturing efforts? Here’s another longtime MHI member, George F. Allen, who said this.

WeveGotAProblemGeorgeFAllenQuoteCommunityInvestorEducateMHCSECOMobileHomeParkManufacturedHomesMHProNews
To see more disconnects between Allen and his flip-flops, then and now, click here.

The evidence for factors that could cause a surge in manufactured home performance are all around, for those willing to look at facts.

The road blocks for the industry routinely grace back to what Rolfe directly, and Allen obliquely pointed to – it arguably does includes MHI, which is dominated by Omaha-Knoxville and the ‘big boys.’

YouGetMoreOfWhatYouEncourageLessofWhatYouDiscourageMartyLavin

 

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Learn more at the links below the byline and notices. That’s the promise, potential, and the problem in tonight’s manufactured housing “Industry News, Tips, and Views Pros Can Use,” © where “We Provide, You Decide.” © ## (News, analysis, and commentary.)

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Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.

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SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

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The last decade-plus has not been especially kind to the manufactured housing industry and consumers of affordable housing. The 21 stCentury began with a great deal of promise for the industry and consumers alike.

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