Could mobile homes make California housing more affordable HEAD TOPICS
Could mobile homes make California housing more affordable
10/21/2022 5:28:00 PM Could mobile homes make California housing more affordable
Source Mercury News
Could mobile homes make California housing more affordable The obvious lure is the price tag. The typical California manufactured home is valued at $110,200 vs. $648,100 for a California single-family home. UPDATED:Of course, they could.compiled by LendingTreeThe obvious lure is the price tag. The typical California manufactured home is valued at $110,200. Yes, that’s fourth-highest in the nation, but it’s dwarfed by the $648,100 value for a California single-family home, which is No. 1 in the U.S. California Manufactured Housing Institute“That’s staggering. That’s ridiculous.”Nationally, look what my spreadsheet found when it sliced the states into three groups based on their share of manufactured housing.Meanwhile, the 16 states most friendly to manufactured homes had 3.91 million of them — or 10% of all residences. Read more:
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UPDATED: October 21, 2022 at 7:35 a.m. RELATED: NYC workers must put in over 100 hours a week to afford an apartment: Report One advocate told the crowd that "this is an affordable housing crisis and luxury development, market-rate apartments at this rate will only worsen the crisis. Could mobile homes — yes, manufactured housing — help make California housing more affordable? Of course, they could. Sadly, factory-built homes aren’t a significant part of the state’s housing-policy discussions despite offering eye-catching savings. "The Bay Area was not low by any means. Let me explain the cost angle with the help of my trusty spreadsheet. Supporters of the project highlighted these aspects during their own rally also held on Wednesday morning. which reviewed some stats from the Census Bureau compiled by LendingTree about the current stock of manufactured housing. And just so you know, this housing hasn’t been officially called “mobile homes” since 1965 when the federal government set higher construction and installation standards for this residential niche. California has 508,589 manufactured homes, No. Queens Borough President Donovan Richards said, "These units are for, they're for people of color who have been systemically pushed out of communities like Astoria for years. 4 among the states. Benzene is on the EPA's list of hazardous air pollutants and is linked to leukemia. But considering the state’s vast size, that’s only 3.5% of the 14." The New York City Council is expected to vote in November.5 million California residences – the 14th smallest share in the nation. The obvious lure is the price tag. The typical California manufactured home is valued at $110,200. BREAKING NEWS. He said the only sure way to avoid exposure is to get rid of gas appliance. Yes, that’s fourth-highest in the nation, but it’s dwarfed by the $648,100 value for a California single-family home, which is No. 1 in the U.S. By the way, that’s an 83% savings on the purchase price — 15th best among the states. “It’s the highest value in housing there is,” says Jess Maxcy, CEO of the California Manufactured Housing Institute , a Riverside-based trade group. Other California cities have since followed suit. He also notes Californians buy more traditional homes priced above $1 million than they do those priced under $500,000. “That’s staggering. That’s ridiculous.” Price gap It’s not just California that’s seemingly missing out on a cost-cutting opportunity that comes off a housing assembly line. Nationally, look what my spreadsheet found when it sliced the states into three groups based on their share of manufactured housing. The 16 states where it’s hardest to find a manufactured home — including California — have 1.65 million of them — or just 3% of total residences. Workers attach two halves of a manufactured home in Villa Park, CA, on Wednesday, July 18, 2018 (Photo by Jeff Gritchen, Orange County Register/SCNG) Meanwhile, the 16 states most friendly to manufactured homes had 3.91 million of them — or 10% of all residences. Now let’s look at the average values of single-family homes between these two groups: $329,800 in states where mobile homes are uncommon vs. $213,750 where they’re most popular — a 55% gap. Manufactured homes don’t seem to be where they’re needed the most. Let me note that the lower pricing of manufactured housing in stats like these can be somewhat offset by other expenses for owners. You rent, not own, the land in a mobile-home park. Mortgages are pricier because the collateral is just the home, not the land. And manufactured housing’s value tends to depreciate in the long run. “Still, we build housing for the lowest cost,” Maxcy says. Bigger problems Maxcy, who started in the industry 60 years ago, has a collection of shock-value stats about this pricing gap. He highlights the average price of a new California manufactured home sold this summer. These residences have 1,455 to 1,560 square feet of move-in-ready living space and cost an average $177,000 — land not included. Maxcy notes this cost isn’t much more than the downpayment for a median-priced single-family California house. “And it’s pretty damn nice housing,” he adds. So why aren’t these homes a key part of the affordable-home solution? Especially when traditional builders complain about the difficulty and costs of completing construction when materials are pricey and labor is in short supply. The construction costs of a home – minus land – can triple on-site vs. housing from an assembly line. Let’s be honest, the idea of affordable housing is great when it’s planned for the other side of town. That’s true across the spectrum of lower-cost options — from rental projects to ownership condos and manufactured housing. One problem for Maxcy’s industry is that there are only seven factories building these homes in California, down from roughly 50 at the industry’s peak production in the 1960s. So any surge in demand would be hard to satisfy, and Maxcy adds there’s “zero interest” in adding new California manufacturing capacity. And like any California real estate executive, Maxcy’s got a list of regulatory headaches that would kill most projects – even if there was land available. State and local policies don’t make it easy for any new residential project, especially manufactured housing. Many zoning laws make single-family homes the priority. Various development fees hit affordable projects extra hard. And to no surprise, California’s land costs are a huge hurdle. Maxcy explains building traditional homes is more profitable when factoring in the huge property costs. “They’d rather build million-dollar homes,” he says. Small slice Manufactured homes may be just a sliver of home construction, but they serve a key niche — folks who otherwise couldn’t afford to own. Nationally, they were 9% of single-family home construction last year, says . In California, the 3,344 manufactured homes equaled 5% of the new-home market. Related Articles .