Brookfield Fund Sells $325 Million of Manufactured Home Sites (Source: Bloomberg) – A Brookfield Asset Management LTD. property fund sold a large chunk of a manufactured housing portifolio as the company seeks to capitalize on growing demand for the sector. The $325 million deal consists of 19 manufactured housing communities across seven U.S. states, totaling...
Source: MHI Housing Alert – Earlier today (October 26, 2023) the House of Representatives passed an amendment offered by Represenative Ralph Norman (SC-5) to prohibit Department of Energy (DOE) funds to be used to implement the DOE’s rule for energy standards for manufactured housing. The amendment was offered during House consideration of the funding bill...
A solution to rural New York’s housing problems could lie in manufactured homes. A 2023 report found manufactured homes only comprise around 2.5% of New York’s housing stock. In rural counties, it jumps to more than 10%, both numbers are considerably less than found in most U.S. states. Local and state New York housing groups...
Updated requirements for valuation of manufactured homes contribute to FHA’s efforts to increase the availability and affordability of manufactured housing as part of the Biden-Harris Housing Supply Action Plan. WASHINGTON – The Federal Housing Administration (FHA) on November 2, 2023 announced the publication of updated appraisal requirements for the valuation of manufactured homes certified under...
Living in a mobile home or trailer probably doesn’t always have a positive connotation among the wealthiest class. But, that perception apparently didn’t stop “Shark Tank” businesswoman and real estate entrepreneur Barbara Corcoran from buying a double-wide trailer in Los Angeles. She recently showed off her mobile home to TikTok star Caleb Simpson in a...
Financing for manufactured homes considered as chattel should be made available through the U.S. Department of Agriculture Rural Housing Service (RHS) program, a joint letter from mortgage and housing groups said. This letter was in response to a proposed rule that would, among other things,update the current regulations to permit the purchase of existing manufactured...
Just because manufactured homes are more affordable than site-built homes doesn’t mean they’re cheap – especially in Idaho. In fact, the cost of a new manufactured home is more expensive in the Gem State than anywhere else in the country, according to a new report from Lending Tree, a North Carolina-based online marketplace. Can you...
Yes, VA loans can be used to purchase a new or preowned manufactured home or a mobile home. The Department of Veterans Affairs guarantees VA loans, which features competitive interest rates, no down payment requirement, and no private mortgage insurance. These loans are available to military borrowers; active-duty service members, veterans, and surviving spouses. ...
CAVCO Donates School Supplies Cavco Industries, CAVCO, based in Phoenix, Arizona, the third largest builder of manufactured homes in the U.S. wants to make sure kids at Monroe Avenue Elementary school in Hamlet, Va. are prepared for the start of the upcoming school year. Representatives from Cavco Industries delivered 40 colorful bags to the school...
New York Governor Hochul Signs Legislation to Support Homeowners at Manufactured Home Parks On October 25, 2023, Governor Hochul signed legislation into law supporting homeowners at manufactured home parks/communities, a critical source of affordable housing for residents in New York State, particularly Upstate and in rural areas. Legislation S.5881A/A 5549-A expands the right of first...
