The answer is yes, but this may soon change.
I traveled extensively around the US to visit different communities. During my travels, I’ve come across many things, like interesting downtowns. These interesting downtown areas are typically surrounded by residential living that is very expensive. Mobile home communities obviously have a significant value proposition for home dwellers needing affordable housing in these areas where they work, and their kids go to school. The downside that comes along with this affordable housing solution is the stigma that comes along with living in a manufactured housing community.
Investors and Mobile Home Parks
We all know the stigma that comes along with living in a trailer park, but why do I believe the stigma may soon change? Personally knowing some of the largest investors in the mobile home park space, I can confidently say that the majority of owners/investors care about their residents. I’m not saying this as a puff piece because these men and women buy communities from me, I mean it! If the sentiment of this type of behavior remains contagious among investors, I believe they have an opportunity to maintain communities that are safer and cleaner than traditional stick built municipal communities.
Improvement in Mobile Home Quality
A number of traditional housing communities in the US are getting old and are starting to require a great deal of attention. While at the time that this article was written, I believe that an on-site home is still better than an off-site manufactured home, but manufactured homes are making advances that have improved their quality by leaps and bounds in the last 20-30 years. Most newly manufactured homes may not even be identified as manufactured homes by some individuals nowadays. The homes are really that nice. And this is the point I’m trying to get at.
Opportunity to Change the Mobile Home Stigma
If the community owners/investors do the right thing and invest the money back into the community. While new manufactured homes start making their way into these communities as well, they can change the stigma. These communities will have the opportunity to become a source of pride for the homeowners. This source of pride I believe will lead to lower delinquencies and easy management. This direction is a win-win for everyone involved, and I hope the industry keeps moving in this direction.
