Manufactured Housing: Manufactured Housing: An Industry Overview An - - PowerPoint PPT Presentation

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Manufactured Housing: Manufactured Housing: An Industry Overview An - - PowerPoint PPT Presentation

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Manufactured Housing: Manufactured Housing: An Industry Overview An Industry Overview An Industry Overview An Industry Overview National Association of Counties Rural Housing Forum Western Interstate Region Conference Santa Fe, NM Presenter:

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Manufactured Housing: Manufactured Housing: An Industry Overview An Industry Overview An Industry Overview An Industry Overview

National Association of Counties Rural Housing Forum Western Interstate Region Conference Santa Fe, NM Presenter: Presenter: Jason Boehlert Manufactured Housing Institute May 16, 2012

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Manufactured Housing: America’s Sustainable and Reliable Housing Solution

Manufactured housing Manufactured housing critical to housing market and American economy

  • What is Manufactured Housing

What is Manufactured Housing

  • Economic Contribution
  • The Market We Serve
  • Historical Industry Trends
  • Industry Outlook
  • Policy Areas of Interest
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Manufactured Housing: America’s Sustainable and Reliable Housing Solution

What is Manufactured Housing

  • Homes built in a factory to the Federal

y Manufactured Home Construction & Safety Standards (the “HUD Code”) Th HUD C d i h l f d ll

  • The HUD Code is the only federally-

regulated residential building code

  • Distinctive business model: Homes built
  • Distinctive business model: Homes built

indoors in a climate controlled setting, sold through a retail network, finished at g the site by installation professionals

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Manufactured Housing: America’s Sustainable and Reliable Housing Solution

Advantages in Quality and Cost

  • Precision Built

H i h d b il i h

  • Homes are tighter, stronger, and built with

greater dimensional accuracy than site‐built homes

  • Quality
  • Quality
  • QC oversight is continuous, with three layers of
  • versight nationally administered by HUD
  • Efficient Use of Skills/Resources
  • Efficient Use of Skills/Resources
  • High Volume, skills integrated production and

volume materials purchasing

  • Green
  • Green
  • Optimal material use, minimal waste and

recycling makes factory building inherently green green

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The Perception

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The Reality

Newport Beach, California

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Raleigh, North Carolina

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Chantilly, Virginia

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Tampa, Florida

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Grayslake, Illinois

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Germantown, Wisconsin

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Tucson, Arizona

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Mobile, Alabama

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Manufactured Housing: America’s Sustainable and Reliable Housing Solution

E i P fil Economic Profile

(as of May 2012)

  • 46 corporations

46 corporations

  • BRK, CVCO, SKY
  • 122 home building facilities

g

  • 4,000 home sales centers
  • 50,000 land‐lease communities (REITs)

,

( )

  • ELS, UMH, SUN
  • 51,606 homes built in 2011
  • 14% of all new housing in 2011
  • Approximately 75,000 full‐time U.S.

based employees based employees

Source: U.S. Census, IBTS, MHI

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Manufactured Housing: America’s Sustainable and Reliable Housing Solution

Serving a Vital Market Serving a Vital Market

2011 M f t d h i

  • 2011: Manufactured housing

accounted for

  • 30% of all new homes sold under

$200,000

  • 50% of all new homes sold under

$150,000 $150,000

  • 71% of all new homes sold under

$125,000

2 f 3 f t d h

  • 2 of every 3 manufactured homes

are in rural areas

Source: MHI, U.S. Census

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Manufactured Housing: America’s Sustainable and Reliable Housing Solution

Serving 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
  • Homes Placed Anywhere
  • 70‐75 percent on private property

20 25 i id i l l d l

  • 20‐25 percent in residential land‐lease

communities

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Manufactured Housing: America’s Sustainable and Reliable Housing Solution

Serving a Vital Market

All Home Owners MH Owners $60,000 $60,000 $70,000 All Home Owners MH Owners $32,000 $40,000 $50,000 , $10 000 $20,000 $30,000 $0 $10,000 73% of manufactured home

Source: U.S. Census, American Housing Survey

73% of manufactured home households earn less than $50,000

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Manufactured Housing: America’s Sustainable and Reliable Housing Solution

Historical Trends

ll h h ld h ll

  • 8.7 million households with 22 million

people live in manufactured homes (6 7% f ti ’ h i t k/9% f (6.7% of nation’s housing stock/9% of single family housing stock) Si 1989 M f t d h i

  • Since 1989: Manufactured housing

accounted for 21.5% of all new single family homes sold family homes sold

  • 2002‐ 2005: Market imbalance due to

b i ti it i it b ilt k t subprime activity in site‐built market

Source: U.S. Census, American Housing Survey, MHI

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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% k since its peak in 2005

  • New manufactured homes sold in

the US has declined by 57%

Source: U.S. Census

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Manufactured Housing: America’s Sustainable and Reliable Housing Solution

Industry Outlook Positive

  • Manufactured housing is back on

the rise over the past two years, b l since bottom in 2009. Currently at 25% of 2011 sales and 31% increase l f f in sales over first quarter of 2011

  • 2011: Manufactured housing

g accounted for 14% of all new single family homes sold y

Source: U.S. Census, MHI

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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

p g p p next decade looking to maximize housing value proposition g p p

  • As demand for our homes grows,

more U.S. jobs created j

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Manufactured Housing: America’s Sustainable and Reliable Housing Solution

Policy Areas of Interest

  • Energy Efficiency
  • Tax Issues
  • Dodd‐Frank/SAFE Act

Implementation Implementation

  • GSE Reform

HUD/FHA

  • HUD/FHA
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Manufactured Housing: America’s Sustainable and Reliable Housing Solution

Please Visit Us

www manufacturedhousing org

d

www.manufacturedhousing.org

Manufactured Housing Institute MHIupdate

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Manufactured Housing: America’s Sustainable and Reliable Housing Solution

Please Contact Us

J B hl Jason Boehlert Vice President, Government Affairs jboehlert@mfghome org jboehlert@mfghome.org 703.558.0660 Manufactured Housing Institute Ma u actu ed

  • usi g I stitute

2111 Wilson Blvd. Suite 100 Arlington, VA 22201

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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

  • u i g a

a u a u e housing provides that product.” Warren Buffett – Warren Buffett