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What’s the Big Idea?

By
Patrick Revere
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patrick revere whats the big idea mhinsider mhvillage manfuactured housing
The 2023 MHI on the Hill event on the National Mall outside a Cavco home talking to Daniel Landy from UMH Properties. Photo courtesy of MHI.
The MHInsider magazine publisher Patrick Revere
Patrick Revere, MHInsider publisher and MHVillage vice president of communications.

I’ve been asking colleagues recently at manufactured industry shows and meetings to share with me the no-holds-barred concept they feel could reshape the manufactured housing industry.

My caveats, to be clear, are that budget is not a concern, there are no approvals required, the regulatory environment will be dealt with, and hiring is the least of your worries. What’s the big idea?

The answers, of course, ran far and wide.

As I cross paths with people in the weeks and months, I will continue to add to this vault of brave notions. At some future point, MHInsider will share a good lot of them.

The concept came up during the planning and production of the State of the Industry edition of MHInsider. It looks to capture the grand themes in the industry. Rather than curating that magazine in business categories, we tackle the industry challenges and opportunities at a higher level. It’s a way to raise our considerations from the daily tactical to the long-term strategic.

We, at MHInsider, want to hear from our audience and introduce you and your ideas to the marketplace.

“What’s the Big Idea” has become my very simple big idea to help carry this bold view of how the industry might evolve through the year rather than having it designated to any two-month period. Yes, the tactical day-to-day aspects of our lives must be addressed, but not at the expense of that ringing inclination that you may have just landed on the next big idea.

So happy inventing, manufactured housing professionals, and look me up or flag me down if you want to share your big idea!

National Home Prices: ‘Revenge of the Rust Belt’

By
Patrick Revere
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SPcorelogicCS home prices
home price index
Craig Lazzara, Dow Jones Indices.

The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a -0.5 percent annual decrease in May, down from -0.1 percent the previous month.

Chicago, Cleveland, and New York reported the highest year-over-year gains among the 20 cities in May.

At the other end of the scale, the worst performers continue to cluster near the Pacific coast, with Seattle prices down 11.3 percent, and San Francisco down 11 percent.

“The rally in U.S. home prices continued in May 2023,” S&P DJI Managing Director Craig J. Lazzara said.  “Our National Composite rose by 1.2 percent in May, and now stands only 1 percent below its June 2022 peak. The 10- and 20-City Composites also rose in May, in both cases by 1.5 percent.

“Regional differences continue to be striking,” he said. “This month’s league table shows the ‘Revenge of the Rust Belt’,” Lazzara said.  Chicago was up 4.6 percent, Cleveland up 3.9 percent, and New York up 3.5 percent.

S&P Dow Jones Indices provide index-based concepts, data, and research. It is the home of the S&P 500® and the Dow Jones Industrial Average®. Charles Dow invented the first index in 1884.

MHInsider is the leader in manufactured housing news and is a product of MHVillage, the top marketplace for manufactured homes.

Cavco CEO Testifies in Congressional Subcommittee Meeting on ESG

By
Patrick Revere
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cavco manufactured home energy efficient dc regulatory energy subcommittee hearing bill boor
A new home from Cavco.

Bill Boor, the CEO of Cavco Industries, which is the nation’s third largest builder of manufactured homes, testified before the House Subcommittee on Housing and Insurance on July 14 and pointedly told members how new DOE mandates would damage the industry’s ability to build, and would keep a significant swath of potential homeowners at bay.

bill boor subcommittee testimony washington dc manufactured housing fair housing affordable housing

“Our industry has a history of significant and meaningful improvement in safety and quality. Our modern, factory-built homes compare favorably to site-built construction in durability and energy efficiency,” Boor said.

Many of the industry’s homes qualify for Energy Star certification and other government programs for energy efficiency, he said.

“In short, the subcommittee should be disavowed of any misperception that ours is a lagging industry that needs to be pulled forward with regard to ESG performance,” Boor said. “We build to a federal construction code that has been developed by and administered by HUD for 48 years and we share the objective of continually improving building standards in a balanced manner.”

“The vast majority of manufactured homes being built today exceed HUD’s standards for energy efficiency,” he said.

The subcommittee’s meeting was called to address “How Mandates Like ESG Distort Markets and Drive Up Costs for Insurance and Housing”.

Boor, who also is the vice chairman of the Manufactured Housing Institute, urged the subcommittee to consider pending legislation that would designate HUD as the industry’s lone regulatory authority, preventing DOE and other governmental bodies from making rules that unnecessarily run counter to the goal of providing affordable housing.

“DOE standards must be subject to the HUD Code process, with HUD having final authority to issue such energy standards,” Boor said. “And, HUD should follow the guidance of its experts on the subject, the MHCC – a body that has already found serious fault with the proposed DOE standards.”

manufactured home on national mall washington dc capitol hill fair housing affordable housing

Cavco, founded in 1965 in Phoenix, operate 31 manufactured housing factories across the country and has 64 retail locations, a manufactured housing lending business, and an insurance company.

“We focus on delivering the high-quality, safe, reliable, and affordable housing our customers desire in a way that benefits all of our stakeholders,” Boor told the subcommittee.

Boor said corporate responsibility is not separable from operating and growing a business, but rather is good for business and an integral component of what drives success.

“The DOE rule is a perfect example of how external ESG mandates distort markets and have unintended consequences that outweigh any potential benefit to consumers, businesses, and the environment,” he said. “The DOE rule will increase cost of manufactured homes to the point of requiring thousands of low-income consumers to remain in older, less energy-efficient housing, and miss what for many may be their only opportunity to attain homeownership.”

MH FacTOURy Summit Opens Registration

By
Sean Vichinsky
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MH FacTOURy Summit 2023 manufactured home factory tours elkhart ind
Manufactured housing industry professionals get a tour during the 2022 summit.

Two Days of Factory Tours, Educational Seminars for Manufactured Housing Professionals

MH FacTOURy Summit Elkhart Indiana manufactured housing industry tours

Registration is now open for this year’s MH FacTOURy Summit, hosted at the RV/MH Hall of Fame, from Aug. 22 – 23, 2023. This event is an industry conference for manufactured housing professionals and is not open to the public.

The event will bring two days of factory tours and educational seminars to Elkhart, Ind.

Hundreds of industry professionals will have the chance to tour the region’s leading manufactured home building facilities, meet with factory representatives, see the latest manufacturing innovations, and foster new and ongoing business relationships.

“Last year’s return to Elkhart was a great success for both the MH FacTOURy Summit and the Scoular Manufactured Housing Museum, which had its grand opening last year,” Indiana Manufactured Housing Association – Recreation Vehicle Indiana Council Executive Director Ron Breymier said. “This year, we’re incredibly excited to welcome retailers, community owners, property managers, sales personnel, and other industry partners for two days of factory tours and educational seminars.”

The RV/MH Hall of Fame Induction Ceremony will precede the summit, on the evening of Monday, Aug. 21, when 10 manufactured housing and RV veterans will be honored for their industry service and enshrined in the Hall of Fame.

Special Guests to Speak at the 2023 MH FacTOURy Summit

The MH FacTOURy Summit also announced two special guests who will serve as keynote speakers for the event’s opening festivities on Tuesday, Aug. 22. 

Rep. Rudy Yakym, R-Ind., will speak at the MH FacTOURy Summit on the first day of the event. Rep. Yakym is one of the co-sponsors of the Manufactured Housing Affordability & Energy Efficiency Act, a topic he will address during his speaking engagement. 

Also speaking at the event is Manufactured Housing Institute Chief Executive Officer Dr. Lesli Gooch. Dr. Gooch has helped MHI become an influential and relied-upon resource for housing policy, including with Congress, the administration, the GSEs, the media and other housing industry groups. During her tenure, she has secured a number of legislative and regulatory successes and a significant increase in bipartisan support for MHI priorities.

Exhibit and Sponsorship Opportunities Available For This Year’s MH FacTOURy Summit

Exhibit and sponsorship opportunities are also open for the 2023 MH FacTOURy Summit. These are ideal ways to increase company exposure and show everything it has to offer. 

Sponsors can sign up for various opportunities throughout the event to boost their brand visibility among manufactured housing professionals.

For more information regarding exhibit and sponsorship opportunities, please contact Sue Bartee at (317) 247-6258 ext. 14 or email info@imharvic.org.
Visit www.mhfactourysummit.com today to register for the MH FacTOURy Summit or to learn more about the event.

 

New HUD Office Elevates Manufactured Housing

By
Patrick Revere
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greenbriar Idaho jlt reports community data report

The U.S. Department of Housing and Urban Development’s Office of Housing has created a new Office of Manufactured Housing Programs as an independent office that reports to Assistant Secretary for Housing and Federal Housing Commissioner Julia Gordon.

The office previously was under the Office of Housing’s Office of Risk Management and Regulatory Affairs. The new status acknowledges the importance of manufactured housing in meeting the nation’s housing needs.

“This organizational change represents a recognition of the critically important role that manufactured housing plays in our country’s housing market,” Gordon said. “Thanks to the work executed by our Office of Manufactured Housing Programs over the last two years, we have made significant progress to support the availability of modern and affordable manufactured homes.”

Manufactured housing has figured prominently in the Biden-Harris Administration’s efforts to increase the supply of affordable housing, and has proved to be a well-developed, helpful avenue to a high-value homeownership experience, especially for buyers in the low- to mid-level portions of the housing market where so few quality homes are available.

During the last two years, HUD’s Office of Manufactured Housing Programs has worked to facilitate widespread changes that support long-term growth in the availability and acceptance of manufactured homes, including:

  • Supporting the continued production of manufactured homes despite COVID-19 supply chain challenges: The office supported the ongoing production and availability of manufactured homes by issuing the first-ever industry-wide Alternative Construction Letters to alleviate COVID-19 supply chain challenges.
  • Implementing the first major changes in almost a decade to the Manufactured Home Construction and Safety Standards, commonly referred to as the HUD Code: HUD’s final rule for the manufactured housing third set of standards became effective in July 2021 and added provisions to the HUD Code such as attached garages and carports; zero-lot-line townhome-style housing; and requirements for carbon monoxide alarms.
  • Initiating the largest set of proposed changes to the HUD Code in over two decades: Through its combined fourth and fifth set of standards proposed rule published in July 2022, HUD is proposing to bring the HUD Code in line with more recent manufactured housing industry standards, including allowing materials that facilitate modern design approaches and improve quality; allowing certain ridge roof designs; adding provisions for multifamily manufactured homes of up to three units; updating requirements for open floor plans, truss designs, and specifications for attics; and accessibility improvements; and others.

More About the Office of Manufactured Hosing Programs

The Office of Manufactured Housing Programs is part of HUD’s Office of Housing and administers the Manufactured Home Construction and Safety Standards, commonly referred to as the HUD Code. The HUD Code establishes federal standards for the design and construction of manufactured homes to assure quality, durability, safety, and affordability. The office enforces standards directly or through state agencies that have partnered with HUD, inspects factories and retailer lots, regulates installation standards for homes, and administers a dispute resolution program for defects. The Office also oversees a Manufactured Housing Consensus Committee, a federal advisory committee composed of 21 producers, users, and general interest and public officials to advise HUD.

MHInsider is the leader in manufactured housing news and is a product of MHVillage, the largest marketplace for manufactured homes.

Industry Mourns the Passing of Event Organizer Dennis Hill 

By
Patrick Revere
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50 Years in Manufactured Housing
Dennis Hill, Show Ways Unlimited

Dennis Hill, who spent 55 years organizing some of the largest and most successful events in manufactured housing, passed away on July 2.

He was 80.

Mr. Hill was the talent behind Show Ways Unlimited, based in Roswell, Ga., and the hundreds of manufactured housing industry trade shows he and his team put on. Prior to the start of his 55 years in manufactured housing, he went to graduate school at the University of Georgia.

In 1966 he was swept up in the U.S.’s call for 50,000 troops to Vietnam. He trained and prepared but never was shipped out.

Instead, he was sent to Fort Rucker in Alabama where he organized musical acts to entertain the troops, 4,000 to 5,000 at a time. In civilian life, he found that same thrill in organizing trade shows and industry events, starting with shows in Atlanta and Nashville and more recently organizing the annual show in Louisville and the former Tunica Show, now held in Biloxi.

Working five decades ago at the Southeastern Manufactured Housing Institute,  Hill said that the trade show business literally just popped up.

“The regional group was there for 10 years, and my original role was member services and the service and supplier division,” Hill said. “Maybe it was a catch-all for anything and everything.

“My boss walked in and said ‘You’re going to do a trade show’ and I said ‘What is a trade show?’ I guess I figured it out.”

Mr. Hill had many people around him, including a 22-member board, to help organize a trade show from earliest planning, through working with partners and vendors, to securing space and getting show homes organized and speakers assembled.

He said it was an experience that got his blood flowing. Doing shows was something akin to running a political campaign with all the months of planning that must coalesce into action.

Mr. Hill was good at motivating people and took great joy in seeing a show come together.

Tim DeWitt, the former director of the Michigan association, collaborated for nearly 40 years with Hill.

“He found a niche and honed in on it. I think what’s made him as successful as he has been… when you’re in a state association it’s very helpful to be able to work with a private promoter who has more room to move and can make decisions to get something implemented a lot faster than you’d be able to working in public sphere,” DeWitt said. “He was always a calming influence, and that’s important. He supported us in good times and bad, and we could rally around that.”

Mr. Hill retired in 2021 but remained in contact with many industry colleagues. He is survived by his wife of 58 years Nancy, their daughter Alison, two grandchildren, Bri and Max, and a great-grandson, Everest Sebastian.

A Celebration of Life will be held on July 9, 2023, at 3:30 p.m., at Alpharetta Presbyterian Church, 180 Academy St, Alpharetta, Ga. In lieu of flowers, donations may be made to The Tunnel 2 Towers Foundation, Furkids Animal Rescue in Alpharetta, or the APC Pastors Emergency Fund.

Datacomp Publishes JLT Market Reports for Manufactured Home Communities in Colo., Del., NJ, Wyo.

By
Patrick Revere
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manufactured home community rank sea air rehoboth beach del
Sea Air, Rehoboth Beach, Del. Sun Communities.

Datacomp published July 2023 JLT Market Reports, mobile home comps for manufactured home communities in Colorado, Delaware, New Jersey, and Wyoming, which include occupancy, home details, pricing specifics, and other vital data.

JLT Market Reports provide detailed research and information on manufactured home communities in 187 U.S. housing markets. Reports include the latest trends and statistics, marketing programs, and a variety of other useful management insights.

Datacomp’s JLT Market Reports are the nation’s #1 provider of market data for the manufactured housing industry. JLT Market Reports are recognized as the industry standard for manufactured home community market analysis.

July 2023 manufactured housing market data published in JLT Market Reports for Colorado, Delaware, New Jersey, and Wyoming include information on 241 “All ages” and “55+” manufactured home communities.

Altogether, the reports from the four states’ manufactured home communities include data representations for 63,392 homesites.

What’s in JLT Market Reports?

Each JLT manufactured home community rent and occupancy report from Datacomp has detailed information about investment-grade communities in the major markets. The detailed information includes:

  • Number of homesites
  • Occupancy rates
  • Average community rents, and increases
  • Community amenities
  • Vacant lots
  • Repossessed and inventory homes, and much more

JLT Market Reports also include management insights that rank communities by the number of homesites, occupancy rates, community type, and housing mix. Established reports show trends in each market with a comparison of July 2023 data to July 2022 and a historical recap from 1996 to present in most markets.

The July 2023 JLT Market Reports for manufactured home communities in Colorado, Delaware, New Jersey, and Wyoming are available for purchase and immediate download online at the Datacomp JLT Market Report website, or they may be ordered by phone in electronic or printed editions at (800) 588-5426.

Each fully updated report for mobile home communities is a comprehensive look at investment-grade properties within a market, enabling owners and managers, lenders, appraisers, brokers, and other organizations to effectively benchmark those communities and make informed business decisions.

SkyView Advisors Employ Tech-First Approach

By
Patrick Revere
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skyview advisors broker manufactured housing technology
Jay Crotty and Ryan Clark of SkyView Advisors.

Jay Crotty, the co-founder of SkyView Advisors, believes that the commercial real estate industry is at a crucial point in its history. Crotty started his career at the traditional brokerage model in 2001. After several years of success in the multifamily sector, he stepped away in 2008 to buy and sell an electronic component and aerospace hardware company. However, his passion remained in commercial real estate. He came back into the industry several years later to form SkyView Advisors with Ryan Clark, an attorney and his lifelong best friend. They set out on a mission to revolutionize the way commercial real estate is bought and sold.

With ample experience and a significant footprint in the industry, Crotty and his colleagues have a track record, but they have also worked hard to bring in experts from outside the traditional model.

The founders view their firm as a technology company and talent development business that happens to sell real estate, one of the largest markets in the world. It has invested in Salesforce, Microsoft, and custom AI solutions to make a more efficient business model.

Multi-Industry Tech Offerings

SkyView Advisors specializes in three asset classes: self-storage, manufactured housing, and healthcare real estate. It has created an offer portal that allows clients to submit their best and final offer through the website. According to Crotty, restrictions during the Covid pandemic were a great accelerator for this kind of use and interaction, particularly among the 55-year-old demographic.

“We’re thinking about this for other industries, and how we can lead in this way,” Crotty said. “Every member of our team thinks about it and talks about it all the time.”

There is plenty of room to grow in manufactured housing, as well as in other industries and markets. The historical demand for resilient asset classes such as manufactured housing, healthcare real estate, and self-storage is fueled by long-term owners who are ready to sell. Crotty said he and his team have been studying manufactured housing for a long time, and there are other asset classes they continue to investigate.

“From the very start of the company, we knew we were going to go into multiple asset classes,” Crotty said.

Inspired for Change

Innovation being one of its core values, SkyView Advisors takes it upon itself to lead the trend.

“A great model for us is Rocket Mortgage, if you think of what that marketplace was… highly fragmented, there are still people sitting in wood-paneled offices. But it’s become more about a ‘mortgage in a box.’ You can pull up the phone app and get a mortgage.”

SkyView Advisors has handled more business than any other brokerage for self-storage to this point in 2023 and had $1 billion in transaction volume last year.

Crotty and Clark have built a system that delivers exceptional value in self-storage, creating millions of dollars in additional revenue for owners over the past decade. This system is designed to ensure the same quality of service across other asset classes, including manufactured housing.

“We’re business people first, entrepreneurs,” Crotty said. “There’s not been a ton of innovation, and why would you when it’s been such a great business, a great builder of wealth? But it will change, it has to change.”

National Home Prices in Flux, Inventory Improving

By
Patrick Revere
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u.s. home prices core logic home starts HPI census bureau hud
The U.S. Census Bureau

Annual home prices fell in April for the first time since 2012, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index. It showed a 0.2 percent year-over-year decrease.

Data from the latest national index was reported on June 27.

The 10-City Composite showed a decrease of 1.2 percent, down from the 0.7 percent decrease in March. The 20-City Composite posted a 1.7 percent year-over-year loss, down from -1.1 percent in March.

Indices Up Month over Month

After seasonal adjustments, the U.S. National Index posted a month-over-month increase of 0.5 percent. The 10-City Composite gained 1 percent and the 20-City Composite posted an increase of 0.9 percent.

“The U.S. housing market continued to strengthen in April 2023,” S&P DJI Managing Director Craig J. Lazzara said. “Home prices peaked in June 2022, declined until January 2023, and then began to recover.”

Home Starts on the Rise

May housing numbers released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development showed positive growth in housing starts and completions, largely driven by multi-family starts.

May housing starts came in at a seasonally adjusted annual rate of 1.631 million, up 21.7 percent, beating the market estimate of 1.34 million.

Housing starts are up 5.7 percent year-over-year, driven by gains in the Midwest, South, and West.

The jump in May represented the largest single-month gain in home starts since January of 1990.

“Looking at the details, gains were broad-based with three of four major regions and both single-family and multi-unit starts contributing,” Brian Wesbury, chief economist at First Trust Advisors, noted in a recent letter to subscribers. “While one month doesn’t make a trend, housing starts are now at the highest level since the previous peak in April of 2022, before mortgage rates began to surge. This signals that the developers may have finally found their footing in what has been a challenging environment for sales.”

Building permits and housing completions are up annually by 5.2 and 5 percent, respectively.

MHInsider is the leader in manufactured housing news and is a product of MHVillage, the largest marketplace for manufactured homes.

HUD Leadership Asks for Insight on Housing Reform

By
Patrick Revere
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Solomon Greene deputy HUD secretary IHS23 innovative housing national homeownership month washington dc
Solomon Greene, principal deputy assistant secretary for policy development and research.

In mid-June, the U.S. Department of Housing and Urban Development released a notice of funding opportunity, also known as a  NOFO, to build the evidence base to accelerate the adoption of innovative and effective practices and policies that will increase the production and supply of quality affordable housing.

The NOFO provides up to $4 million to…

  • assess the potential for off-site construction methods to increase housing supply, lower the cost of construction and/or reduce housing expenses for low- and moderate-income owners and renters,
  • and to study how reforms to local zoning and other land-use regulations can increase the supply of quality, affordable housing and expand housing choices and opportunities for low- and moderate-income households.

Proposals Due Aug. 1

Solomon Greene is the principal deputy assistant secretary for policy development and research at HUD.

“In recent decades, housing supply simply has not kept up with demand, which has driven up housing costs and limited affordable housing options for low- and moderate-income families. However, the housing supply shortage has also inspired pro-housing policy reforms at the state and local levels and new attention to alternative construction methods,” Solomon said. “The goal of this research is to better understand which of these reforms and innovations are most effective at producing new affordable housing and what are the conditions for success.”

This notice is the latest in HUD’s effort to support researchers, community residents, practitioners, and policymakers to work together to increase the housing supply.

In June, HUD organized the Innovative Housing Showcase on the National Mall. This event showcased new building technologies and housing solutions, with a particular focus on off-site construction, including manufactured housing. The goal was to explore ways to make housing more innovative, resilient, and affordable for American families. In April, HUD published a Policy & Practice brief that summarized the impacts of restrictive land-use policies on housing supply, location, and affordability. The brief also highlighted reforms that state and local governments can adopt to increase the availability of housing. Also in April, HUD announced a research grant awarded to Cornell University. The grant supports a study on the effects of zoning in the largest cities across the U.S.

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