Fed Chairman Jerome Powell exits the Dec. 18 press conference that followed the committee's December 2024 meeting.
Powell Indicates Likelihood of Fewer Cuts in 2025
The Federal Reserve in its December FOMC meeting cut rates another quarter point, the third cut of the year, and in doing so expressed more of a “wait and see” attitude for 2025.
“In assessing the appropriate stance of monetary policy, the committee will continue to monitor the implications of incoming information for the economic outlook. The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the committee’s goals,” the Fed said in its post meeting statement. “The committee’s assessments will take into account a wide range of information, including readings on labor market conditions, inflation pressures and inflation expectations, and financial and international developments.”
The goal of the Fed in its shifting of monetary policy — including rate changes and involvement in the bond market — is to achieve maximum employment and to keep inflation at 2 percent. It’s December change brings the target range for rates to between 4.25 and 4.5.
“Reduction in short-term rates is an important step towards aligning interest rates with the broader economy,” National Housing Conference President and CEO David M. Dworkin said in a prepared statement on the FOMC decision. “However, it is unlikely this is going to have a significant impact on mortgage rates in the near term. Ultimately investors must be more convinced that inflation is on a permanently downward trend before we see long-term rates come down as well. Until then, the cost of housing will remain too high, and unless we build more housing that is affordable to most Americans, it is going to stay that way.”
The stock market looked to continue a 10-day down streak on the news, the most consistent day-after-day declines in 50 years.
Champion Homes has appointed Tim Larson, the company’s former chief growth officer, as its CEO, succeeding Mark Yost.
Yost had served as president and CEO since June 2019.
Larson joined Champion Homes in 2021 and has been responsible for leading the company’s direct-to-consumer growth and brand transformation, driving what the company calls “a customer-centric approach to the business”.
“As we engaged in our ongoing succession planning activities, the board determined that Tim has the right set of leadership, operational and financial skills and experience to lead Champion Homes as it embarks on its next phase of growth,” Champion Homes Chairman of the Board Eddie Capel said. “Since joining the company, Tim has been instrumental in developing and executing our digital direct-to-consumer strategy, expanding our retail footprint, and driving a customer-centric approach to the business. We are confident now is the right time to transition leadership and that he will continue to build on the progress achieved during Mark’s tenure as CEO.
“We remain on track to deliver solid results in our third quarter and will look to capitalize on new opportunities to unlock even more value for our shareholders with Tim at the helm,” Capel said. “On behalf of the board of directors, I thank Mark for his leadership as CEO of Champion Homes and his many contributions over the past decade.”
Larson previously has been CEO of Jostens, Inc. and CMO and senior vice president of global customer excellence at Polaris Industries.
Champion Homes is a leading producer of factory-built housing in North America. It employs about 9,000 people. With more than 70 years of homebuilding experience and 48 manufacturing facilities throughout the United States and western Canada, Champion Homes maintains an innovative portfolio of manufactured and modular homes, ADUs, park-models and modular buildings for the single-family, multi-family, and hospitality sectors.
“It is an especially exciting time at Champion Homes.” Larson said. “There is a tremendous opportunity to expand and elevate offsite built homes through customer-centric product and service innovation, in support of both homeowners and our retailers. I look forward to working with our CFO, Laurie Hough, and the entire outstanding Champion team as we evolve and grow our portfolio of housing solutions.”
Attendees at The Louisville Show listen in on an education panel covering consumer lending.
A Dozen Speakers, Panels During Three-Day Event
Organizers for The Louisville Manufactured Housing Show, to be held Jan 15-17, 2025, at the Kentucky Exposition Center in Louisville, have announced an “all-star” lineup of presenters, a dozen sessions in all.
Wednesday, Jan. 15
8 a.m. — State of the Industry: Our Business in 2025 and Beyond
9 a.m. — The Road Ahead: Outlook on the Economy and Its Impact on Manufactured Housing
10 a.m. — Perspectives on Financing: Chattel Lending
11 a.m. — Elevating the Customer from King to Emperor
Thursday, Jan. 16
8 a.m. — Expanding Attainable Homeownership Through National Advocacy
9 a.m. — The Shape of Housing to Come: How Multi-Residential Homes, ADUs, and Expansion of the HUD Code Is Opening New Doors for Manufactured Housing
10 a.m. — Perspectives on Financing: Land/Home Lending
11 a.m. — Building Smart, Building Better: A Discussion of Emerging Trends with the Nation’s Leading Manufactured Home Builders
Friday, Jan. 17
8 a.m. — Community Management Insights: How to Increase Results, Reduce Expenses, and Get More Done in Less Time
9 a.m. — Innovation is Building: Developing with Manufactured Homes
10 a.m. — Designed to Sell: Discover the Latest Home Design Influences and Consumer Preferences
11 a.m. — Mastering Sales and Marketing: Tips and Tactics to Automate Your Marketing, Get More Leads, and Close More Business
The Louisville Show Is Back and Bigger, Better Than Ever
The Louisville Manufactured Housing Show is the annual kickoff to the New Year and the precursor to the spring selling season. Approximately 3,500 manufactured housing professionals will gather at the KEC over three days to tour nearly 50 homes, talk with about 200 vendors, and engage in educational sessions and social events with colleagues.
The Bureau of Labor Statistics for November employment shows an increase of 227,000 jobs and a steady unemployment rate at 4.2 percent. The news within the news is that real wages are up 0.4 for the month and 4 percent compared with the same month last year.
The increases in employment came from health care, leisure and hospitality, government, and social assistance. Retail trade lost jobs, but is certain to rebound for the season.
November was a rebound from a poor jobs report in October, with a gain of only 12,000 jobs, hampered significantly by gulf coast storms.
The labor force participation rate, which is a measure of those who are working or seeking work among the eligible population, is at 62.5 percent, only slightly changed from the previous month and within the narrow trend between 62.5 percent to 62.7 percent since December 2023.
Payroll employment has increased by an average of 186,000 per month During the 12 months prior to November.
Health care added about 54,000 jobs in November, in line with the average monthly gain of 59,000 during the last year. In November, ambulatory health care services added 22,000 jobs, led by a gain of 16,000 in home health care services. Employment also increased in hospitals with better than 19,000 and nursing and residential care facilities with more than 12,000 jobs.
Employment in leisure and hospitality trended up in November with 53,000 more jobs.
In November, government employment continued to trend up by 33,000, in line with the average monthly gain over the prior 12 months. Over the month, employment continued to trend up in state government, with an increase of more than 20,000.
Employment increased by 32,000 in transportation equipment manufacturing in November, reflecting the return of workers who were on strike. Employment in social assistance edged up by 19,000 in November, similar to the average monthly gain of 18,000 over the prior 12 months. Over the month, individual and family services added 17,000 jobs.
The Manufactured Housing Institute, which is the national advocacy group for factory built housing and land-lease community living, announced recently that annual home shipments for the first time since 2022 have surpassed the 100,000 mark.
Only twice previously in the last 18 years has the industry produced as many homes. The years 2021 and 2022 each eclipsed the 100,000 mark, and with the current need for housing and encouraging projections for growth the annual numbers in the near future may be more reminiscent of the 2003 through 2005 years when deliveries were 130,000 or better.
October production was up 22.3 percent year-over-year, and up 16.8 percent year-to-date. Single-section shipments were up 12 percent year-to-date, multi-section shipments increased by 20.8 percent year-to-date. The seasonally adjusted annual rate of shipments (SAAR) increased to 108,480, a 15.4 percent increase from 2023. Manufactured homes accounted for 11.2 percent of national home starts in October.
MHI stated that eight of nine regional divisions across the country experienced growth in shipments, comparing October 2023 to October 2024. The divisions with the greatest percent increase in shipments, it reported, were East South Central (35.6 percent year-over-year increase), Mountain (28.2 percent increase), and Pacific (24.9 percent increase).
Scott Turner Previously Headed the Opportunity and Revitalization Council
Scott Turner, a former professional football player, businessman, and public servant has been nominated by President-elect Donald Trump to serve as the next secretary for the U.S. Department of Housing and Urban Development.
HUD has been the regulator for manufactured housing for more than 50 years.
“We are thrilled about the nomination of Scott Turner as HUD secretary,” Manufactured Housing Institute CEO Lesli Gooch said. “We appreciated his engagement and attention to manufactured housing in his previous role during President Trump’s first term. We look forward to working with him again to elevate innovative housing and expand attainable homeownership.”
Turner visited three manufactured homes on the National Mall in 2019 and complimented MHI and the manufactured housing industry for its innovation and creativity.
Turner was Executive Director of the White House Opportunity and Revitalization Council in 2020. Collaborating with former HUD Secretary Ben Carson, Turner oversaw federal agencies in implementing policy measure to advance economic development. He was instrumental in the development of the opportunity zones program.
He played in the NFL for seven years in Washington, D.C., Denver, and San Diego. During the offseason he interned with Rep. Duncan Hunter, R-Calif. He won a State House seat in Texas and started a family foundation that aims to rejuvenate communities across the country through initiatives centered around sports, mentorship, and economic empowerment.
This year, there is a mood swing sweeping across the country. We seem to be f inally pulling ourselves back together after a difficult few years and people are starting to make plans to buy homes again. But with this optimism comes a sense of caution, and people are more concerned than ever about living within their means. Many of us, including our customers, spend more and more time on social media checking out TikTok, “how to” videos on YouTube, and beautiful photos of homes ‘Insta-worthy’ are my homes?” on Pinterest. Ask yourself a question… “How Are you showing the latest trends in your model homes, and are they staged so a buyer can see in 60 seconds that they want to live there? Here are some design and lifestyle trends that we think will be important in 2025, ones that you can show and sell in your homes.
Multiple Personalities
Factory-built homes are about constructing production-friendly designs to keep costs low and values high. The home, Great Escape by Cavco Homes, is among the favored floor plans for new In-Neighborhood community homes. Even though the home and finishes are the same in all of these community homes, each has its own personality using different colors, furniture, art, and design trends. The bayside model at Copano Bay highlights coastal bird watching, the home in San Antonio has a framed flag that flew over the Alamo, and the Flores Valley home has a boho/urban ranch feel that plays up the surrounding area. The home in Denton highlights its beautiful surroundings of live oaks and sunflowers, along with its close proximity to The University of North Texas. There are no changes between these homes to the materials and colors — all of the colors and lifestyle nuances are items we added that the new homeowner could purchase themselves at their leisure. Using different styles of accessories and furniture along with impactful art can make any home feel different from the ones around it.
Be Bold
Photo by Lisa Stewart/Lisa Stewart Photography
Minimal, colorless homes and kitchens are definitely an anti-trend. Gone are all-white, hard-to-keep-clean kitchens, and they are being replaced by soft, warmer colors with bold accents of darker colors, large art, and statement pieces. A striking blue wall is a beautiful statement when you walk into this smaller-scale home, for instance. But many potential home buyers might need to learn how to decorate around it. The buyer can understand how the look can come together by adding other colors, using a neutral sofa, and tying the blue into the rest of the room with accent pillows, patterned accent chairs, and lighting. Wilsonart is a well-known laminate surface supplier that offers thousands of different patterns and colors for countertops and other surfaces at a fraction of the cost of a butcher block or natural stone. This allows us to have fun with accent areas like a kitchen island or bath without breaking the budget. Stone looks, especially travertine in warmer colors, are very popular, and you will see many more patterns and matte finish looks in 2025.
The Great Outdoors
Photo by Lisa Stewart/Lisa Stewart Photography
Greens, especially leafy colors, continue to be a strong trend, and more natural-looking plants can be found in staged interiors. Bringing the outdoors in can make the home feel larger and more open. Outdoor entertaining areas remain essential, with porch model homes growing in popularity. At the 2024 International Builders Show, Cavco showed a home with a rooftop deck, which is a great way to use space on a smaller lot.
Photo by Lisa Stewart/Lisa Stewart Photography
Eco Trends
Living an eco-friendly green lifestyle is necessary for most consumers. Besides being a way to keep utility costs down, it is the right thing to do. Consumers are asking for recycled materials like the 100 percent recycled material tiles that Kohler showed at the Kitchen and Bath Show. Concrete is a material you will see a lot more of in design. Kast concrete basins had an incredible choice of colors, and are a great way to add color to any bath. Be sure to highlight how your business and your homes are environmentally friendly.
Get Cozy
Photo by Lisa Stewart/Lisa Stewart Photography
Our home is our haven, and comfort is back in style. Soft materials are a must, with beautiful woven textures that make you want to snuggle up. Rounded corners give any room a softer feel, and the new neutrals like camel, honey, and terra cotta give home interiors the warmth buyers want.
With 2025 being the year that more consumers than ever will be taking a look at manufactured homes for the first time, the industry must be ready to show how the homes from our builders are not only a great value but also help create that Instagramworthy home that buyers love
LED Lighting
Photo by Lisa Stewart/Lisa Stewart Photography
LED lighting is an area that will be trending heavily in 2025. With the cost of LED lighting coming down, now is a great time to try using this easily installed design element to add backlighting for a mirror, to add night lighting to the base of a kitchen island, or for accent lighting to open shelving. Recessed lighting for the ceiling has also come down in price and is a great way to light a room. Be sure to have the dining room and other spaces wired for chandeliers, ceiling fans, or pendants that the consumer can add. It is an excellent way for a buyer to easily models that can add aromatherapy to a shower or bath to make life a little bit sweeter. customize their home.
Photo by Lisa Stewart/Lisa Stewart Photography
Spa Baths
Bath areas are another place where buyers can customize their homes after purchase. Interchangeable shower heads are now available to turn any bath into a spa retreat. Kohler has its new line of Spa Viva hand showers with a cleansing device, and there are models that can add aromatherapy to a shower or bath to make life a little bit sweeter.
The interior of Adventure Homes facility in Garrett, Ind.
Indiana Builder Opened at The Worst Time ‘Never Expected to Make It’
Adventure Homes in 2009 was an outlier, an experiment in what homebuilding might be, a lark, if you will. To put it plainly, Adventure Homes was expected to fail even before it was named.
No one told Wally Comer.
“Yes, they did…” Comer said. “Everyone did, but it was clear to me what I needed to do.”
The writing was on the wall but it was in a language Comer doesn’t speak. Skepticism is fine, but there is a way. Consumer financing was wobbly, homebuilding facilities were contracting and closing faster than in recent memory. And Wally Comer wanted to take over an old plant and build a new company?
Please.
“We were never expected to make it,” Comer said. But he talked to his wife Joanna, talked some more with people from the plant about sticking around, bought the place and kept on moving… and there it was, an adventure at hand in Garrett, Ind.
Adventure Homes is owned by Walt Fuller, Jerry Henry, and Wally Comer, who remains vital to central operations and is in the office and plant most days.
The interior of a home built by Adventure Homes in Garrett, Ind.
“Wally Comer and Adventure Homes have been the true pioneers of the manufactured housing business, creating opportunities for the American dream in both employment and family home ownership. Wally and Adventure Homes are a true example of how an organization should be run!” — Nikki Elliott, Green Valley Homes
How Comer Came to Start Adventure
Comer came from LaCrescenta, Calif., and went to University of California for a marketing degree. He joined Redman with the RV division, moved to Oregon for a stint in the “mini-motor home” division before moving on to manufactured housing. After taking some turns with the industry, Comer was hired to run Fleetwood’s plant in Garrett.
“Our plant had a solid reputation with the dealers, a well trained workforce, and a seasoned management team in place,” Comer was quoted as saying at the time.
“The decision was really rather simple: Lose all that we had built together as a team or purchase the facility and save 80 jobs.”
The plant shut down on a Friday and re-opened on Monday under the new name, never to miss a step. Of the 230 current employees, 33 are from the original group of 80. Twenty-two of them have been there 10-plus years, and another 70 have been on the team for more than five years.
Comer confides that the company lost a little money the first year, stablized in the second year, and turned a decent profit by year three.
At the beginning, Adventure Homes couldn’t even hang a sign out front. There were no formal agreements for pay, or insurance or other benefits. In no time, all of the details would work out. The first year, Adventure Homes sold $13 million in homes. Ten years in it eclipsed $53.5 million.
“The thing I love about Adventure is Wally. He has the kindest heart. He treats everyone like family. He expects your best and that’s easy to do when you work for a guy who always gives his best. We are all one big family and that is the best work environment anyone could ask for” — Susan Kasinger, Adventure Homes Controller
Wally Comer, of Adventure Homes.
Adventure Homes by the Numbers
17,275 homes built (HUD single section, multi section and modular) 8-time Manufacturer of the Year award winner (MHI – Three plants or fewer) 4-time Home Design Award winner (MHI) 2-time Interior Design Award winner (MHI) 230 person team (Up from 80 in 2009) 2,095 floors produced in 2023 (up from 689 in 2010 – 1st full year in business) $91.7 million in sales in 2023 “built and sold” (up from $13.1 million in 2010 – 1st full year in business)
Because Fuller and Henry had confidence in Comer, they gave their full support. The Adventure plan was simple; keep prices low, and put all the resources they are able into the homes they build. To this day, signs hang in the factory that say “Would You Buy the Home You Built Today?” and “Remember, The Next Inspector is The Customer” as well as “If We Don’t Do It Better – Our Competition Will”.
A new home on the line and under construction in the Adventure Homes facility.
Comer reminds people that the homes Adventure builds cost a substantial amount of money, but the quality and care that goes into them is free. They don’t really care about the numbers, not as much as about the house, he has said.
Adventure builds what people want. The company is proud of its roots, “Luxury and Comfort for Less” and over time has evolved the motto to “Dream It. Design It. Build It. Love It.”
“I’m not a mass producer,” Wally Comer said. “I’m sort of a quasi-custom builder, and we’ve been very successful.”
How to Celebrate 15 Years
Shawn Carnahan, the sales manager at Adventure and a second-generation employee with the company, said the company celebrated during the week with a barbecue chicken dinner, and then tee-shirt and lawn chair giveaways.
“We continued the celebration on Saturday with a company picnic,” Carnahan said. “We rented out Fort Wayne’s largest indoor entertainment center, providing hours of fun and a buffet of food. It was a wonderful gathering! Everyone works so incredibly hard throughout the week, it’s awesome to meet everyone’s families and spend time outside of the work environment.”
“During my time as CEO at Zeman Homes I made the decision to take the ‘Adventure’ with Wally and his team. The partnership between our companies has been one of the best that Zeman has had. This partnership has provided us with a great product, at an affordable price and superb customer service, as well as a friendship with one of my favorite people in the world, Wally Comer.” — Dee Pizer, Zeman Homes
Kirk Kacsor is the purchasing manager at Adventure Homes.
“Without a doubt, the success and growth of Adventure Homes in the past 15 years has to do with the culture and the people who make up the team,” he said. “ The family environment, a ‘can-do’ attitude. It starts at the top with our owners and filters down through the company.”
The ownership at Adventure Homes has created a stable work environment by offering incentive pay and other benefits, the company’s production manager Keith Carnahan said.
“That keeps the workforce intact. I have always believed that the success of our company starts out on the production floor. Our workforce has the ability to build a wide variety of high-quality, customized homes from a very budget friendly single section, all the way up to a high end modular home, all in one facility,” Carnahan said.
In conjunction with the drafting, administration staff, purchasing, sales and our service department, they all work together to produce a quality home that people are proud to live in. Our workforce is the heart and soul of our company.”
The five honorees in the 2024 MHInsider Industry Awards will receive an engraved "Crystal Home" award.
In Recognition of the Highest Achievements in Manufactured Housing
The fifth annual MHInsider Industry Awards tell a decades-long story of hard work, ingenuity, perseverance, and a passion for innovative thought and business leadership. The manufactured housing professionals at Datacomp and MHVillage, through MHInsider magazine, are honored to be able to recognize the colleagues awarded for their high achievements.
Our MHInsider editorial board assisted in selecting among more than 90 candidates for the industry awards. Deliberations continued among our internal team and external advisors until consensus was reached for recipients in five categories.
Congratulations to all of the winners. Thank you for the work you do!
2024 MHInsider Industry Awards
MHInsider Advocacy Award
The Advocacy Award honors efforts toward outreach and education that go beyond professional position or title. The 2024 MHInsider Advocacy Award winner is Amie Hacker.
MHInsider Influencer Award
The annual Influencer Award honors individuals who, by their presence and authentic implementation of ideas, have created widely held business practices and wholesale improvement for the industry. The 2024 MHInsider Influencer Award winner is Dave Hegemann.
MHInsider Leadership Award
The Leadership Award honors individuals who have earned the highest levels of industry achievement through their corporate or organizational leadership approach. The 2024 MHInsider Leadership Award winer is Jim Scoular.
MHInsider Legacy Award
The Legacy Award honors manufactured housing professionals whose overall career contributions are certain to create meaningful and lasting industry improvement and excellence. The 2024 MHInsider Legacy Award winner is Charles Fanaro.
MHInsider Visionary Award
MHInsider’s Visionary Award honors those who have brought to market the coolest concept or product, the idea that makes the job easier, the offering better, the customer experience more meaningful. The 2024 MHInsider Visionary Award winner is Scott Roberts.
MHInsider Editorial Board
George Allen Barry Cole Ron D’Ambra Kevan Enger Suzanne Felber Dawn Highhouse Maria Horton Darren Krolewski John Neet Karl Radde TC Sheppard
Amie Hacker pictured here with industry colleague Barry Noffsinger.
Amie Hacker, of Clayton Homes
The five honorees in the 2024 MHInsider Industry Awards will receive an engraved “Crystal Home” award.
Amie Hacker, vice president of real estate and acquisitions for Clayton, is the former owner and principal at Parkplace Homes and Boardwalk Properties. In addition to dedicating much of her career to becoming Kentucky’s top manufactured home retail sales organization, she is a leader in creating change toward the sale of more energy efficient homes. Hacker is the past chairperson for the Kentucky Manufactured Housing Institute, and currently serves as secretary. She also has served as treasurer and vice chairperson for the institute’s political action committee. Hacker has been a trustee for the Manufactured Housing Institute’s board of directors, helping to lead the national organization and its efforts in Washington, in addition to working with the organization’s education Institute.
The Advocacy Award honors efforts toward outreach and education that reach beyond professional position or title
What do you believe are Leadership Award winner Amie Hacker’s greatest achievements?
“True leadership is inspiring and helping individuals reach their potential while assuring the organization achieves its goals. True achievements are things done successfully by attitude, effort, courage and/or skill. Amie’s career is the epitome of these. Her career started with a successful repo business that led to more successful retail, community, and insurance businesses. Along the way she learned each aspect of the manufactured housing business while forming strong relationships. Fighting unfair zoning issues became a specialty. She makes each organization better while inspiring and encouraging individuals. Amie has served as a role model for women in the industry and has devoted a lot of time advocating for qualified diversity in the industry.” — Credit Human National New Markets Catalyst Barry Noffsinger
What are the award winner’s personal skills or character traits that you feel have contributed most to these successes?
“It all comes down to Amie’s inclination to genuinely connect and collaborate. Because she is a natural leader, Amie has been tapped to serve on the National Retailers Council’s Board of Governors, including as chair. Amie’s path to success is realized through her inclination to foster relationships and build collaboration and trust. I can always rely on Amie to provide inspiration and encouragement, no matter the challenge. Amie is a great listener who really makes an investment in learning and understanding others. She has been integral to supporting the industry’s success, whether it was leading a board or participating in an advocacy effort. She leads and inspires through example.” — MHI CEO Lesli Gooch
In August, the RV/MH Hall of Fame will celebrate the 2025 class of inductees, five from each industry.
“Our selection committees held meetings to review...
