Freddie Mac released a research brief on June 29, 2022 on Manufactured Housing. That brief was provided to MHLivingNews and others in media and its key findings are found below. Their report will be followed by other information from mainstream news and other sources.
Research Brief | June 29, 2022
Majority of Consumers Say They Would Consider Purchasing a Manufactured Home
Two years of significant home price appreciation has resulted in national concerns about housing affordability. However, in new research by Freddie Mac, 6-in-10 individuals say they would consider purchasing the type of dwelling that has become the largest source of unsubsidized affordable housing in the United States: manufactured housing.
Construction costs for manufactured homes are typically lower, which may have contributed to their growing popularity in recent years. According to recent U.S. Census data, 6.2% of people currently live in manufactured homes.
A recent Freddie Mac housing survey shows that general familiarity with manufactured housing is relatively high, with 47% of respondents saying they are somewhat or very familiar with manufactured housing. In the study, 62% of people say they are likely to consider purchasing a manufactured home in the future.
Perception of Manufactured Homes
The overall perception of manufactured homes is positive, according to the survey results.
All told, 77% of people who are aware of manufactured homes expressed a positive sentiment toward these homes, describing them as “new,” “efficient,” “affordable” and “easy.” Most agree that there are tangible benefits to manufactured homes, including the following:
- Allow a wide range of customization.
- Affordable without compromising on quality.
- Ecofriendly and energy efficient.
- A good investment.
Who Is Likely to Consider Buying a Manufactured Home?
Although 62% of people say they are likely to consider purchasing a manufactured home in the future, certain populations are more likely than others to buy them. The survey results were analyzed by generation, race, urbanicity and household income to take a closer look at trends in likelihood to purchase a manufactured home.
Household income did not affect respondents’ reported likelihood to purchase, but the survey data shows that those with an annual income less than $50,000 have a significantly more positive perception of manufactured homes than the total sample or other income groups.
Likelihood to Consider Purchasing: By Generation
|Likelihood to Purchase
Likelihood to Consider Purchasing: By Race
|Likelihood to Purchase
Likelihood to Consider Purchasing: By Urbanicity
|Likelihood to Purchase
The 2022 Manufactured Housing Survey was fielded April 7-11, 2022, and includes responses from 2,092 respondents age 18 and older. The survey oversampled for Black and Hispanic consumers, Gen Z and Millennials. … ##
Additional Information, More MHLivingNews Analysis and Commentary
The video below, also by Freddie Mac, features a discussion among professionals about the opportunities to serve “mortgage ready” manufactured home buyers. Their YouTube page says:
“Freddie Mac subject-matter experts discuss key highlights from Freddie Mac’s first-of-its-kind research on manufactured housing market opportunities. Lenders can leverage these findings to grow their business while addressing affordable housing challenges. Lenders will gain insights they can use to advance the acceptance, use, and ownership of manufactured housing, as well as information on financing options including Freddie Mac CHOICEHome® and manufactured housing mortgages to help more clients become homeowners.”
It isn’t just Freddie Mac saying nice things about modern manufactured homes. Several regional news outlets have done video reports that focus on the growing acceptance of manufactured housing for reasons like those noted by Freddie Mac. The video above was posted on May 24, 2022.
But the reality is that there have been decades of research reports that praised modern manufactured homes. MHLivingNews has the largest known collection online of third-party research of manufactured homes conducted by government, nonprofit, university, and others. These routinely debunk the common misconceptions of manufactured homes while spotlighting the overall quality and value, as Freddie Mac has now done, only others have done so often in greater detail.
Research-Data-Stats – Media & Investigator Resources – Mobile Homes, Manufactured Homes, Manufactured Housing Research – HUD, Univ-Studies, CFPB, Nonprofits, GAO, NFPA – Exec Summary, Definitions, Facts, Trends, More
One might wonder why Freddie Mac, which is under a Congressional mandate or “Duty to Serve” Manufactured Housing that experts and industry professionals doubt the mortgage giant is properly fulfilling is making this pitch now? After all, the manufactured home industry was producing double the number of homes 20 years ago, and the homes were much the same. For more on that see the report linked below.
Or why didn’t Freddie Mac mention favorable research published some 4 years earlier by the National Association of Realtors (NAR)? That study by NAR’s Scholastica “Gay” Cororaton’s demonstrated several eye-opening points, including that most renters – tens of millions of them – could readily make the payments on a manufactured home because those payments would be less than their rent.
MHLivingNews has also provided consumer tips about manufactured housing picked up by Google news and provided to third-party news outlets, as the example linked below reflects. Further favorable research by Lending Tree late last year revealed that manufactured homes in many states were appreciating at a faster rate than conventional housing.
‘Half Priced New Homes’ — Tampa Free Press-MHLivingNews Reveals Federally Certified, 3rd Party Inspected New Affordable Homes, Facts, Video, Analysis Solutions to Festering Affordable Housing Crisis Problems
Weather data and solid research also debunks the arguably overgrown hype about manufactured homes and windstorms. Videos and facts in the report below reveal that neither conventional housing, nor manufactured homes, are tornado-proof. But both can withstand such windstorms, and insights on that are found below.
Additional insights and related information are found in the linked reports that follow.
But perhaps equally important, this platform and our sister site, MHProNews, have often pulled back the veil in so-called predatory brands. Consumers shopping for a new manufactured home need to be aware of how to navigate beyond ‘black hats’ and could use help in finding the white hats in the manufactured home industry.
The bottom line? Manufactured housing is the most proven form of affordable housing in the U.S. today. Shoppers and researchers should familiarize themselves with the items linked above and below to get the most home for your money. ##
That’s a wrap on this installment of “News through the lens of manufactured homes and factory-built housing” © where “We Provide, You Decide.” © ## (Affordable housing, manufactured homes, reports, fact-checks, analysis, and commentary. Third-party images or content are provided under fair use guidelines for media.) (See Related Reports, further below. Text/image boxes often are hot-linked to other reports that can be access by clicking on them.)
By L.A. “Tony” Kovach – for MHLivingNews.com.
Tony earned a journalism scholarship and earned numerous awards in history and in manufactured housing. For example, he earned the prestigious Lottinville Award in history from the University of Oklahoma, where he studied history and business management. He’s a managing member and co-founder of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com. This article reflects the LLC’s and/or the writer’s position, and may or may not reflect the views of sponsors or supporters.
Connect on LinkedIn: http://www.linkedin.com/in/latonykovach
Recent and Related Reports:
The text/image boxes below are linked to other reports, which can be accessed by clicking on them.