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Manufactured Housing:An Industry OverviewNational Association of CountiesRural Housing ForumWestern Interstate Region ConferenceSanta Fe, NMPresenter:Jason BoehlertManufactured Housing InstituteMay 16, 2012
Manufactured Housing: America’s Sustainable and Reliable Housing SolutionManufactured housingcritical to housing market andAmerican economy What is Manufactured HousingEconomic ContributionThe Market We ServeHistorical Industry TrendsIndustry OutlookPolicy Areas of Interest
Manufactured Housing: America’s Sustainable and Reliable Housing SolutionWhat is Manufactured Housing Homes built in a factoryy to the FederalManufactured Home Construction &Safety Standards (the “HUD Code”) TheTh HUD CodeC d isi theh onlyl federallyf d llregulated residential building code Distinctive business model: Homes builtindoors in a climate controlled setting,sold throughg a retail network, finished atthe site by installation professionals
Manufactured Housing: America’s Sustainable and Reliable Housing SolutionAdvantages in Quality and Cost Precision Built HHomes are tighter,i hstronger, andd builtb il withihgreater dimensional accuracy than site‐builthomes Quality QC oversight is continuous, with three layers ofoversight nationally administered by HUD Efficient Use of Skills/Resources High Volume, skills integrated production andvolume materials purchasing Green Optimal material use, minimal waste andrecycling makes factory building inherentlygreen
The Perception
The RealityNewport Beach, California
Raleigh, North Carolina
Chantilly, Virginia
Tampa, Florida
Grayslake, Illinois
Germantown, Wisconsin
Tucson, Arizona
Mobile, Alabama
Manufactured Housing: America’s Sustainable and Reliable Housing SolutionEEconomici ProfileP fil(as of May 2012) 46 corporations BRK, CVCO, SKY 122 home buildingg facilities 4,000 home sales centers,land‐lease communities ((REITs)) 50,000 ELS, UMH, SUN 51,606 homes built in 2011 14% of all new housing in 2011 Approximately 75,000 full‐time U.S.based employeesSource: U.S. Census, IBTS, MHI
Manufactured Housing: America’s Sustainable and Reliable Housing SolutionServing a Vital Market 20112011: MManufacturedf t dhhousingiaccounted for 30% of all new homes sold under 200,000 50% of all new homes sold under 150,000 71% of all new homes sold under 125,000 2 off every 3 manufacturedf t dhhomesare in rural areasSource: MHI, U.S. Census
Manufactured Housing: America’s Sustainable and Reliable Housing SolutionServing a Vital Market Best Value Proposition Average Price Without Land Manufactured Home ‐ 62,800 or 41.45 per SF Site‐Built Home ‐ 206,560 or 84.07 per SF Homes Placed Anywhere 70‐75 percent on private property 20‐2520 25 percent ini residentialid i l land‐leasel dlcommunities
Manufactured Housing: America’s Sustainable and Reliable Housing SolutionServing a Vital MarketAll Home Owners 70,000MH Owners 60,000, 60,000 50,000 40,000 32,000 30,000 20,000 10 000 10,000 073% of manufactured homehouseholds earn less than 50,000Source: U.S. Census, American Housing Survey
Manufactured Housing: America’s Sustainable and Reliable Housing SolutionHistorical Trends 8.7 millionllhhouseholdsh ld withh 22 millionllpeople live in manufactured homes(6 7% off nation’s(6.7%ti ’ hhousingi stock/9%t k/9% offsingle family housing stock) SinceSi1989 Manufactured1989:Mf t d housinghiaccounted for 21.5% of all new singlefamily homes sold 2002‐ 2005: Market imbalance due tosubprimeb iactivityti it iin site‐builtit b ilt marketk tSource: U.S. Census, American Housing Survey, MHI
Manufactured Housing: America’s Sustainable and Reliable Housing SolutionHistorical Trends New single family site‐built homessold in the US has declined by 76%since its peakk in 2005 New manufactured homes sold inthe US has declined by 57%Source: U.S. Census
Manufactured Housing: America’s Sustainable and Reliable Housing SolutionIndustry Outlook Positive Manufactured housing is back onthe rise over the past two years,since bottombin 2009. Currentlyl at25% of 2011 sales and 31% increasein salesl over ffirst quarter off 2011 2011: Manufactured housinggaccounted for 14% of all new singlefamilyy homes soldSource: U.S. Census, MHI
Manufactured Housing: America’s Sustainable and Reliable Housing SolutionIndustry Outlook Positive Industry is responding to currenthousing market demands andstresses Rapidp ggrowth in ppopulationpovernext decade looking to maximizeg value ppropositionphousing As demand for our homes grows,more U.S. jjobs created
Manufactured Housing: America’s Sustainable and Reliable Housing SolutionPolicy Areas of Interest Energy Efficiency Tax Issues Dodd‐Frank/SAFE ActImplementation GSE Reform HUD/FHA
Manufactured Housing: America’s Sustainable and Reliable Housing SolutionPlease Visit Uswww manufacturedhousing ed Housing Institute
Manufactured Housing: America’s Sustainable and Reliable Housing SolutionPlease Contact UsJJason BoehlertB hlVice President, Government Affairsjboehlert@mfghome u actu ed Housingousi g IInstitutestitute2111 Wilson Blvd.Suite 100Arlington, VA 22201
Manufactured Housing: America’s Sustainable and Reliable Housing Solution“If home buyers throughout the countryhad behaved like our [manufactured]buyers, America would not have hadthe crisis that it did.”“The government wants high quality,lowo costo housingou i g aand manufactureda ua uehousing provides that product.”– Warren Buffett
Santa Fe, NM Presenter: Jason Boehlert . Source: U.S. Census, American Housing Survey 73% of manufactured home households earn less than 50,000. Manufactured Housing: America's Sustainable and Reliable Housing Solution . in sales over first quarter of 2011
