It’s one more #nettlesome data-point that must make a certain CEO in Arlington, VA turn red-faced.
According to Fannie Mae, and CNBC, “More Americans think it’s a bad time to buy a home.” What’s bad for higher priced homes, and expensive rentals should be good for manufactured homes. Certainly, that was the case for decades.
Some bullets from the new Fannie Mae and CNBC reports.
- The share of Americans who think it is a good time to buy a home just dropped sharply, according to a December survey from mortgage giant Fannie Mae.
- The share of those surveyed who think home prices will go up fell 2 percentage points, and those who expect mortgage rates to drop was unchanged.
- The share of those who said their household income was significantly higher than a year ago fell compared with November, although it was up slightly from a year ago. Consumers are, however, quite confident about employment.
Mortgage rates declined in December, 2018, from an average 4.85 percent on the 30-year fixed at the start of the month to 4.61 percent on New Year’s Eve, per Mortgage News Daily.
But the financial markets see mortgage rates rising throughout much of 2019. That means that the December drop was just a temporary. Rates are higher than one year ago.
This Should Be Good for Affordable Housing Sellers, But…
These are historically trends that in decades past would have signaled a rise in manufactured home sales. The data from the National Association of Realtors™ (NAR) in the graphic/chart below is useful in understanding the longer-term industry trends.
So, while manufactured housing often benefited in years gone by from rising conventional housing and soaring rents, for whatever reason one cares to mention, that is not the case this time.
To learn more about the most recent new home data in manufactured home production, click the linked text/image box below.
At the very time when near-record numbers of Americans are renting, manufactured homes ought to be rolling, rolling, rolling down the road to their final destinations.
These facts bely the Manipulative Housing Institute’s (MHI) claims of promoting manufactured housing to tens of millions of potential buyers. If so, MHI’s self-proclaimed efforts have not only failed to notably move the needle, but in recent months shipments have stalled, and in November, slipped.
It’s a trend that MHProNews has been warning industry professionals, investors, and affordable housing advocates about for months, but has signaled the possibility of this occurrence for years.
What are the causes?
Many, but it could be summed up in 3 letters, a symbol, and one word. Failure @ P.E.P. Failure by the Monopolistic Housing Institute (MHI) to effectively Protect Educate Promote the MH Industry with regulators, zoning, and the public at large. Attribute that failure to whatever one wishes to, but the facts remain the same.
First, understanding the causes of the headwinds that have led the industry to this point in time.
Next, action steps which obviously require leaving the status quo behind. More on both in the articles linked herein and below.
The rental and mainstream conventional housing data should be causes for manufactured homes to roar, not snore. It doesn’t matter how the ‘powers that be‘ spin it, but the numbers don’t lie. People are entitled to their own opinions, but not to their own facts.
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Bridging Gap$, Affordable Housing Solution Yields Higher Pay, More Wealth, But Corrupt, Rigged Billionaire’s Moat is Barrier – manufacturedhomelivingnews.com
America woke up today to division. But perhaps 75 percent (+/-) of the nation’s people could come together on a plan that demonstrably could do the following. Increase the U.S. Gross Domestic Product (GDP) by some $2 Trillion Annually, without new federal spending.