D2 manufactured housing jason boehlert - mhi

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Manufactured homes have been an important source of housing in the United States for more than a half century. As this unique form of housing continues to evolve, so does its delivery into rural markets. Over the past decade there has been a concerted effort by several entities to develop a manufactured housing “done right” model. National organizations, philanthropic foundations, and community-based nonprofits are rethinking the way manufactured homes are built, sold, financed, and placed. What progress has been made as a result of this initiative, and what are the continued challenges with manufactured housing in rural America? The session will include a discussion on the state of the manufactured housing industry, finance markets, nonprofit development, park preservation, resident rights, legislative initiatives, and regulatory developments for manufactured housing.

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D2 manufactured housing jason boehlert - mhi

  1. 1. Manufactured Housing:An Industry Overview Housing Assistance Council National Rural Housing Conference Washington, DC Jason Boehlert Manufactured Housing Institute December 6, 2012
  2. 2. Manufactured Housing: America’s Sustainable and Reliable Housing Solution Manufactured housingcritical to housing market and American economy• What is Manufactured Housing• Economic Contribution• The Market we Serve• Historical Industry Trends• Industry Outlook• Policy Areas of Interest
  3. 3. Manufactured Housing: America’s Sustainable and Reliable Housing Solution What is Manufactured Housing• Homes built in a factory to the Federal Manufactured Home Construction & Safety Standards (the “HUD Code”)• The HUD Code is the only federally- regulated residential building code• Distinctive business model: Homes built indoors in a climate controlled setting, sold through a retail network, finished at the site by installation professionals
  4. 4. Manufactured Housing: America’s Sustainable and Reliable Housing Solution Advantages in Quality and Cost• Precision Built • Homes are tighter, stronger, and built with greater dimensional accuracy than site-built homes• Quality • QC oversight is continuous, with three layers of oversight nationally administered by HUD• Efficient Use of Skills/Resources • High Volume, skills integrated production and volume materials purchasing• Green • Optimal material use, minimal waste and recycling makes factory building inherently green
  5. 5. MH SHIPMENTS 1959 – 2011
  6. 6. The Perception
  7. 7. The RealityNewport Beach, California
  8. 8. Raleigh, North Carolina
  9. 9. Chantilly, Virginia
  10. 10. Tampa, Florida
  11. 11. Grayslake, Illinois
  12. 12. Germantown, Wisconsin
  13. 13. Tucson, Arizona
  14. 14. Mobile, Alabama
  15. 15. Manufactured Housing: America’s Sustainable and Reliable Housing Solution Economic Profile • 45 corporations • BRK, CVCO, SKY • 69 in 2001 • 122 home building facilities • 263 in 2001 • 2,000+ home sales centers • 50,000 land-lease communities (REITs) • ELS, UMH, SUN • 51,606 homes built in 2011 • 14.5% of all new single-family housing sold in 2011 • Approximately 60,000 full-time U.S. based employees • 200,000 jobs over the past decadeSource: U.S. Census, IBTS, MHI
  16. 16. Manufactured Housing: America’s Sustainable and Reliable Housing Solution Serving a Vital Market• 2011: Manufactured housing accounted for • 27% of all new homes sold under $200,000 • 47% of all new homes sold under $150,000 • 72% of all new homes sold under $125,000• 2 of every 3 manufactured homes are in rural areasSource: MHI, U.S. Census
  17. 17. Manufactured Housing: America’s Sustainable and Reliable Housing Solution Serving a Vital Market• Best Value Proposition • Average Price Without Land • Manufactured Home - $60,600 or $41.22 per SF • Site-Built Home - $207,950 or $83.38 per SF• Homes Placed Anywhere • 70-75 percent on private property • 25-30 percent in residential land-lease communities • Roughly 2/3 in rural communities
  18. 18. Manufactured Housing: America’s Sustainable and Reliable Housing Solution Serving a Vital Market All Home Owners MH Owners $70,000 $60,000 $60,000 $50,000 $40,000 $32,000 $30,000 $20,000 $10,000 $0 73% of manufactured home households earn less than $50,000Source: U.S. Census, American Housing Survey
  19. 19. Manufactured Housing: America’s Sustainable and Reliable Housing Solution Historical Trends • 8.7 million households with 22 million people live in manufactured homes (6.7% of nation’s housing stock/9% of single family housing stock) • Since 2000: Manufactured housing has accounted for roughly 10% of all new single family homes starts • 2002- 2005: Market imbalance due to subprime activity in site-built marketSource: U.S. Census, American Housing Survey, MHI
  20. 20. Manufactured Housing: America’s Sustainable and Reliable Housing Solution Historical Trends• New single family site-built homes sold in the US has declined by 76% since its peak in 2005• New manufactured homes sold in the US has declined by 57%Source: U.S. Census
  21. 21. Manufactured Housing: America’s Sustainable and Reliable Housing Solution Industry Outlook Positive• Manufactured housing is back on the rise over the past two years, since bottom in 2009. Currently at 80% of 2011 sales and 13% increase in sales through Q3 of 2011• 2011: Manufactured housing accounted for 14.5% of all new single family homes soldSource: U.S. Census, MHI
  22. 22. Manufactured Housing: America’s Sustainable and Reliable Housing Solution Industry Outlook Positive• Industry is responding to current housing market demands and stresses• Rapid growth in population over next decade looking to maximize housing value proposition• Changing demand of baby boomers and millenials• As demand for our homes grows, more U.S. jobs created
  23. 23. Manufactured Housing: America’s Sustainable and Reliable Housing Solution Policy Areas of Interest• Energy Efficiency• Tax Issues• Dodd-Frank/SAFE Act Implementation• GSE Reform• HUD/FHA
  24. 24. Manufactured Housing: America’s Sustainable and Reliable Housing Solution Please Visit Uswww.manufacturedhousing.org MHIupdate Manufactured Housing Institute
  25. 25. Manufactured Housing: America’s Sustainable and Reliable Housing Solution“If home buyers throughout the country had behaved like our [manufactured] buyers, America would not have had the crisis that it did.”“The government wants high quality, low cost housing and manufactured housing provides that product.” – Warren Buffett
  26. 26. Manufactured Housing: America’s Sustainable and Reliable Housing Solution Please Contact Us Jason BoehlertVice President, Government Affairs jboehlert@mfghome.org 703.558.0660 Manufactured Housing Institute 2111 Wilson Blvd. Suite 100 Arlington, VA 22201

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