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Steep, unexpected rent increases, utility hikes, reduced services and abrupt evictions are among the practices Iowa mobile home owners are calling on state lawmakers to address again this year.
Please help us stay in our homes. Please stop out of town investors buying up trailer parks and raising our rent to the point we can no longer live in our homes, Connie Simon, a resident of the Table Mound Mobile Home Park in Dubuque, wrote to lawmakers.
Table Mound is one of dozens Iowa mobile home parks that have been bought by out-of-state investment firms in the past few years, a trend occurring across the country.
Simons brief statement summed up many of the public comments filed to House File 442, a bill aimed at expanding some rights of people who own manufactured housing but rent the property under their home.
Rep. Lindsay James, D-Dubuque, noted lawmakers had received nine pages of written public comments on the bill, many from residents living in mobile homes. These are single moms. They are veterans, they are people with disabilities, they are some of the most vulnerable in our community. And their stories in here are heart-wrenching. And they are asking us to help them, she said.
House File 442 deals with numerous aspects of the relationship between the dwelling owner and the land owner, including:
Evictions: The bill limits the park owners ability to evict a tenant, restricting reasons to material noncompliance with the rental agreement or park rules or a legitimate and material business reason that doesnt affect only one resident, such as a sale of the land. The landlord would have to provide at least three written notices of the violations dated 10 days apart. However, the bill also allows eviction for any reason with a 90-day notice, as long as it is not in retaliation for a tenants complaints or actions asserting specified rights.
Rent increases: Rent could not be increased more than once a year and a tenant must receive 120 days notice. Rent increases could not be levied as retaliation. Decreasing services or amenities that are included in the rental agreement without a change in rent to be paid would be considered a rent increase under the bill.
Utility charges: The bill deals with utilities in several ways, including forbidding landlords from overcharging a tenant for utilities provided and allowing no more than a $5 administrative fee per month for utility administration.
Sales of mobile home parks: The bill requires a 90-day notice to tenants prior to the sale of a mobile home park.
Representatives of the Manufactured Housing Association raised numerous objections to the legislation, including that the grounds for lease termination are unclear, that it restricts the property owners rights such as to increase rent, and that it treats mobile park owners differently than landlords of apartment complexes or other rental housing.
Tim Coonan, a lobbying for the association, said the bill imposes provisions that we think are unfair, and also impose unreasonable restrictions on our ability to do what were very proud of and thats provide an unsubsidized affordable housing option for Iowans.
Rep. Brian Lohse, R-Bondurant, the lead sponsor of the bill, said Wednesday he is striving for a balance of rights between people who own manufactured homes and those who own the land.
Its all about the property rights. But we cannot forget that park owners are not the only one that owns something in this equation. Mobile home owners also own something. They have property rights, and those cant be dragged through the mud. They cannot lose their home, were talking about losing a home, Lohse said.
Lohse said he believed lawmakers were nearing a compromise on similar legislation last year but they ran out of time when COVID-19 caused a month-long suspension of the legislative session.
Rep. Megan Jones, R-Sioux Rapids, joined Lohse and Democratic Rep. Ross Wilburn of Ames in moving the bill to the full House Judiciary Committee. But, she said, she believes the legislation still needs work to find a compromise.
She said she believes some tenants are unrealistic in not expecting rent to increase over decades, but its also unfair to have steep increases with little notice. So theres got to be some happy medium here, she said.
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Bill would expand rights of mobile home park tenants after years of complaints - telegraphherald.com
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HTF MIpublished a new industry research that focuses on COVID-19 Outbreak- Manufactured Housing market and delivers in-depth market analysis andfuture outlook of COVID-19 Outbreak-Global Manufactured Housing market. The study covers significant data which makes the research document a handy resource for managers, analysts, industry experts and other key people get ready-to-access and self-analyzed study along with graphs and tables to help understand market trends, drivers and market challenges. The study is segmented by Application/ end users [Residential, Commercial & Others], products type [, Mobile Homes, Modular Homes & Pre-cut Homes] and profiled players such as BonnaVilla, Pine Grove Homes, Clayton Homes, Crest Homes, Cavco, Kent Homes, Sunshine Homes, Schult Homes, Karsten Homes, Champion Home Builders, Nashua Builders, Titan Homes, Manufactured Housing Enterprises Inc., Marlette Homes & Moduline Homes].
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The study provides company profiling, product picture and specifications, sales, market share and contact information of key manufacturers of COVID-19 Outbreak-Global Manufactured Housing Market, some of them listed here areBonnaVilla, Pine Grove Homes, Clayton Homes, Crest Homes, Cavco, Kent Homes, Sunshine Homes, Schult Homes, Karsten Homes, Champion Home Builders, Nashua Builders, Titan Homes, Manufactured Housing Enterprises?Inc., Marlette Homes & Moduline Homes. The market is growing at a very rapid pace and with rise in technological innovation, competition and M&A activities in the industry many local and regional vendors are offering specific application products for varied end-users. The new manufacturer entrants in the market are finding it hard to compete with the international vendors based on quality, reliability, and innovations in technology.
COVID-19 Outbreak-Global Manufactured Housing (Thousands Units) and Revenue (Million USD) Market Split by Product Type such as , Mobile Homes, Modular Homes & Pre-cut Homes. Further the research study is segmented by Application such as Residential, Commercial & Others with historical and projected market share and compounded annual growth rate.Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million USD), and market share and growth rate of COVID-19 Outbreak- Manufactured Housing in these regions, from 2014 to 2025 (forecast), covering North America (Covered in Chapter 7 and 14), United States, Canada, Mexico, Europe (Covered in Chapter 8 and 14), Germany, UK, France, Italy, Spain, Russia, Others, Asia-Pacific (Covered in Chapter 9 and 14), China, Japan, South Korea, Australia, India, Southeast Asia, Others, Middle East and Africa (Covered in Chapter 10 and 14), Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Others, South America (Covered in Chapter 11 and 14), Brazil, Argentina, Columbia, Chile & Others and its Share (%) and CAGR for the forecasted period 2019 to 2025.
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Chapter 1, to describe Definition, Specifications and Classification of COVID-19 Outbreak- Manufactured Housing, Applications of COVID-19 Outbreak- Manufactured Housing, Market Segment by Regions;Chapter 2, to analyze the Manufacturing Cost Structure, Raw Material and Suppliers, Manufacturing Process, Industry Chain Structure;Chapter 3, to display the Technical Data and Manufacturing Plants Analysis of COVID-19 Outbreak- Manufactured Housing, Capacity and Commercial Production Date, Manufacturing Plants Distribution, R&D Status and Technology Source, Raw Materials Sources Analysis;Chapter 4, to show the Overall Market Analysis, Capacity Analysis (Company Segment), Sales Analysis (Company Segment), Sales Price Analysis (Company Segment);Chapter 5 and 6, to show the Regional Market Analysis that includes North America (Covered in Chapter 7 and 14), United States, Canada, Mexico, Europe (Covered in Chapter 8 and 14), Germany, UK, France, Italy, Spain, Russia, Others, Asia-Pacific (Covered in Chapter 9 and 14), China, Japan, South Korea, Australia, India, Southeast Asia, Others, Middle East and Africa (Covered in Chapter 10 and 14), Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Others, South America (Covered in Chapter 11 and 14), Brazil, Argentina, Columbia, Chile & Others, COVID-19 Outbreak- Manufactured Housing Segment Market Analysis (by Type);Chapter 7 and 8, to analyze the COVID-19 Outbreak- Manufactured Housing Segment Market Analysis (by Application) Major Manufacturers Analysis of COVID-19 Outbreak- Manufactured Housing;Chapter 9, Market Trend Analysis, Regional Market Trend, Market Trend by Product Type [, Mobile Homes, Modular Homes & Pre-cut Homes], Market Trend by Application [Residential, Commercial & Others];Chapter 10, Regional Marketing Type Analysis, International Trade Type Analysis, Supply Chain Analysis;Chapter 11, to analyze the Consumers Analysis of COVID-19 Outbreak-Global Manufactured Housing;Chapter 12,13, 14 and 15, to describe COVID-19 Outbreak- Manufactured Housing sales channel, distributors, traders, dealers, Research Findings and Conclusion, appendix and data source.
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Manufactured Housing Market to Eyewitness Massive Growth by 2026 | Crest Homes, Kent Homes, Titan Express Keeper - Express Keeper
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Sandie Hayes found her way out of a homeless shelter and into one of 30-subsidized units in the Solace Apartments in St. Peter in 2019.
The new setting provided the kind of housing stability her life was sorely missing. It helped Hayes escape a troubled relationship and aided in her pursuit of sobriety. She could easily tap into supportive services, including on-site Alcoholics Anonymous meetings and connection to mental health offerings.
Im alone now. I love myself. And Im not in a toxic relationship anymore, Hayes recounted recently. If I didnt have housing like Solace, that wouldnt happen for me.
Hayes shared those personal details with Minnesota lawmakers, who are searching for ways to replicate the success story.
Whether its people trying to get back on their feet or its companies struggling to expand because there are few places for workers to live, affordable housing is in critical demand.
Minnesota Housing, a state agency, estimated last year that more than 550,000 households devoted at least 30 percent of their income sometimes much more to housing. That benchmark is one measure of housing insecurity.
Rep. Alice Hausman, DFL-St. Paul and the chair of a legislative housing committee, said the problem has only grown more acute over the past year.
Housing was already a crisis. It has become even greater since the pandemic and jobs that were lost and people who are one paycheck away from not being able to pay their bills, Hausman said.
Sen. Rich Draheim, R-Madison Lake and head of a Senate housing panel, hears much the same.
When I travel the state, thats the number one thing I hear from chambers and business people is they dont have enough affordable housing, Draheim said. They have a hard time attracting people because they cant find anywhere that is affordable.
A 2018 Housing Task Force estimated the need for 300,000 new housing units in Minnesota by 2030. While that figure covers all types and price points, the task force found the most significant need was for places where low-income families could call home.
Legislators from both parties are pushing bills to address the lagging stock of emergency shelter space, adequate multi-family housing at affordable rents and availability of entry-level, single-family homes.
Proposals range from increased assistance for rent or mortgage to state borrowing toward new housing development and building rehab projects.
Lawmakers are hearing from civic leaders, business owners and housing specialists from across the state Alexandria, Grand Rapids, St. Peter and beyond. Thats probably by design.
Rep. Aisha Gomez, DFL-Minneapolis, said it highlights how substantial the statewide need is. She chairs a House committee focused on combating homelessness.
Housing supply and affordability impact every single community across Minnesota, Gomez said. And I know were going to have to continue to beat that drum because there is this sort of mistaken impression that it just impacts the urban core.
Take Roseau as an example.
Todd Peterson, community development coordinator in the far northwestern Minnesota city, said there are seldom vacancies in its affordable housing stock a chronic problem that he says has made it tough for the industrial area to fill job openings.
We just dont have the housing to house those people we need to bring in to work at those jobs, Peterson said. Weve tapped out our labor force and without additional housing we just cant move forward.
Dedicated workforce housing grants are among several proposals in the mix. Measures pushed by Gov. Tim Walz include $100 million in housing infrastructure bonds to foster more supportive housing, senior housing and manufactured home parks.
Since 2012, lawmakers have authorized $415 million in housing bonds that have supported $775 million in total development when local and private money is factored in. Housing Commissioner Jennifer Ho says the return on investment is strong.
Thats jobs. Thats economic development. Thats getting people to work, Ho said. And its also creating or preserving over 4,700 units.
Program skeptics say the cost-per-unit is too high.
The reasons are many: The prices of lumber and other construction supplies are up. There are permit fees that builders say drive up their costs. Many government-subsidized projects come with wage requirements for construction crews.
Were chasing perfection with the cost of building a new home or a new unit, Draheim said.
He said the debate shouldnt be limited to how much the state antes up.
We have to look at zoning, energy code, building code, density, he said.
The housing construction discussion could get tangled in the brewing debate over what to do about evictions once a COVID-19-prompted moratorium goes away.
Key lawmakers say they hope to keep the two separate, but that might not be possible as the session goes on.
2020 Minnesota Public Radio. All rights reserved.
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Drive for low-cost housing finds bipartisan buy-in - Southernminn.com
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Washington, DC, Feb. 17, 2021 (GLOBE NEWSWIRE) -- At a time when many people are in financial survival mode, addressing everyday money matters, building long-term stability and wealth is more important than ever. One way to build long-term wealth is through homeownership, and a Feb. 17 NeighborWorks America virtual symposium explored shared equity housing models specific types of housing strategies that create permanently affordable homes, build wealth for families and create equitable communities.
Shared Equity Housing: Creating Lasting Affordability and Community Ownership was part of the 2021 NeighborWorks Training Institute. The weeklong event, which began Feb. 15 and ends Feb. 19, hosted by NeighborWorks America, provided comprehensive professional education and training for housing and community development professionals.In 2020 NeighborWorks America awarded more than 18,000 training certificates to professionals from more than 2,000 community development organizations.
By creating shared ownership, these models give community members who wouldn't otherwise be able to own a piece of their community access to the wealth building and stability that homeownership offers," said Shanti Abedin, director of shared equity housing at NeighborWorks America.
NeighborWorks America provides vital training to professionals like housing counselors who help people become homeowners and therefore increase their pathways to wealth. More than 12,400 people enrolled in NeighborWorks Americas HUD-certification courses over the last year. On Aug. 1, 2021, all housing counselors must be HUD certified to provide housing counseling for a HUD participating agency.
Speakers at the symposium included:
Shared equity and cooperative models, including community land trusts, limited-equity cooperatives, deed-restricted homes, and resident-owned manufactured housing communities, ensure homes for families who may not otherwise be able to afford stable housing in their neighborhood of choice. This means that subsidies put into a community remain in that community over time, allowing affordable housing to serve multiple families over generations. Shared equity housing models also serve a pathway to traditional homeownership and wealth building for families who would normally not have access to equity-building opportunities. They also often allow for increased community control of housing and land.
Learn more information about the NeighborWorks Training Institute.
About NeighborWorks AmericaFor more than 40 years, Neighborhood Reinvestment Corp., a national, nonpartisan nonprofit known as NeighborWorks America, has strived to make every community a place of opportunity. Our network of excellence includes nearly 240 members in every state, the District of Columbia and Puerto Rico. NeighborWorks America offers grant funding, peer-exchange, technical assistance, evaluation tools and access to training, as the nation's leading trainer of housing and community development professionals. NeighborWorks network organizations provide residents in their communities with affordable homes, owned and rented; financial counseling and coaching; community building through resident engagement; and collaboration in the areas of health, employment and education.
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Symposium on expanding shared equity housing highlights innovations and best practices in community-owned land - GlobeNewswire
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Photo by Joanna BastianThe Methow Valley Interpretive Centers Seasons of the People exhibit shows traditions of the Methow people through dioramas, personal photo archives, artwork and artifacts.
Partnerships are key to telling valleys story
By Joanna Bastian
The Methow Valley Interpretive Center (MVIC) launched the new year with an updated mission statement that expands its scope.
Executive Director David LaFever noted that the initial work of MVIC was limited to the Methow watershed. But in recent years, the MVIC actively worked to expand its outreach beyond the Methow Valley. The organization has developed valued partnerships with Paschal Sherman Indian School and the River Warrior Society to connect with more people.
Hence the MVICs new guidance: Our mission is to foster cultural awareness and understanding of Indigenous peoples and the natural history of the Methow Valley and Upper Columbia region through education, interpretation, creative expression and cross-cultural connections.
One of our core values is honoring relationships, LaFever said. The new mission statement is a reflection of what the MVIC aspires to accomplish in the future.
We are building relationships, and trying to do it right, LaFever said. Tending those relationships is our first priority. Trust and relationship-building help people connect.
For example, Rob Crandall of Methow Natives Plant Nursery noted that MVIC is sponsoring Paschal Sherman Indian Schools (PSIS) Traditional Food Systems program.
In partnership with PSIS and Methow Natives Plant Nursery, MVIC will serve as the fiscal sponsor for this program, which is working to integrate the traditional food systems of the Upper Columbia region into the everyday learning of PSIS students, Crandall said.
The program will create an outdoor classroom garden of native plants. Tribal elders can use this natural setting to share plant knowledge and traditions with students and staff. The Native American Agriculture Fund awarded the project a $50,000 grant.
The majority of grant funds are dedicated to supporting tribal members and elders to implement the program, Crandall said. Colville Confederated Tribes members Faith Zacherle and Cody Saint are community coordinators for the project.
The MVIC was also awarded a Washington Equity Fund grant of $25,000. LaFever said the grant will fund the interpretive centers general operating budget. It is a reflection of us as an organization that we are considered for these types of grants. This competitive consideration and the recognition that our work is equity work is the result of the deep work of the founders, he said.
MVIC fire recovery work continued throughout the winter with the replacement of lost homes with manufactured homes, infrastructure building and repair, and ensuring that elders basic needs continue to be met. Recovery work will continue in the spring with fence repairs, outbuilding construction and planting seeds.
Wealth of exhibits
New exhibits at MVIC are the result of building the relationships LaFever promotes. The story of the original people and the Methow Valley place becomes more revealing through the new exhibits.
The first exhibit, Clouds of the Methow, showcases dramatic cloud formations photographed by Dennis OCallaghan.
The Emergence of the Methow exhibit explains geologic history, tectonic activity and glaciation that transformed the Methow Valley from ocean floor to icy peaks. According to the Methow people, rocks tell the oldest stories and are teachers from the dawn of time. The exhibit was first created in 2019 with contributions from local geologists John Adams, Alan Gillespie and MVIC volunteer Jon Hawley.
The exhibit was expanded in the last year to include the field work of Julian Barksdale who, along with fellow professor Peter Misch and University of Washington students, began early geologic work on the North Cascades in the 1940s. Theirs was a complex undertaking, as the rugged landscape yielded puzzles that grew more complete after the discovery of plate tectonics in the 1970s placed the geology of the Cascades in a global context. Tectonic drift is explained in the Emergence of the Methow exhibit through the work of geologist Ralph Haugerud.
The Ribbon of Life exhibit focuses on the Methow watershed. Aquatic ecologist John Crandall contributed photos and text that tell the story of the Methow River wetlands and aquatic life.
A Living Landscape showcases important Methow Valley plants and animals and some of their cultural uses. Photos are by clinical herbalist and local author Rosalee de la Foret, and naturalist Mary Kiesau. Animal displays were contributed by Paula Mackrow, Jane Gilbertson, Rich Davis, Ray Robertson and Rico Mileski.
Two exhibits describe how the Methow people lived throughout the seasons. The Seasonal Food Cycle follows the movement of star formations that coincided with different harvest times and related preparation tasks. Elaine Timentwa Emerson and Jimmy Timentwa shared their knowledge of gathering traditions for this exhibit. Seasons of the People was created through story and photo contributions from the personal collection of Tillie Timentwa Gorr.
There is depth of knowledge, artistic creativity and skilled craftsmanship that has gone into telling the story of the Methow Valley, said Carolyn Schmekel, founder of the MVIC.
Community efforts
The exhibits grew from a community effort created by the support and dedication of individuals and organizations. Most of the materials were donated and all of the displays were created by talented volunteers. Artful representations were completed by Susan Sprague, Ron Gross, Rich Davis and Elaine Timentwa Emerson. Descriptive text was written by Carolyn Schmekel, Bruce Morrison, George Wooten and Susan Sprague.
Cascade Columbia Fisheries, Methow Salmon Recovery and the U.S. Bureau of Reclamation sponsored the Ribbon of Life exhibit. Artifacts were donated by the Shafer Museum and Methow Valley residents. Featured photographs come from the archives of the Okanogan County Historical Society and the Confederated Tribes of the Colville Reservation.
The MVIC is open for private tours. Contact LaFever at (509) 919-0686 or email dhlafever@gmail.com.
A virtual tour of the center and never-before-seen displays can be viewed on the MVIC YouTube Channel. The link is located on the MVIC website home page, http://www.methowvalleyinterpretivecenter.com. The 30-minute narrated virtual tour includes oral histories as told by Methow descendants, Salish terms, and a scientific exploration of the Methow Valley formation and watershed.
Also found on the MVIC homepage are links to Notes from the Center, where LaFever discusses what each time of year brings to the Methow Valley, and what it means to the Methow people.
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MV Interpretive Center expands its scope - Methow Valley News
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This report on Manufactured Homes, Modular Homes, and Mobile Homes market Added by Market Study Report, LLC, covers valuable insights based on market valuation, market size, revenue forecast, SWOT Analysis and regional outlook of this industry. The research also presents a precise summary of the industrys competitive spectrum, while drawing attention to the growth prospects and expansion plans adopted by key market players.
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According to industry experts, the Manufactured Homes, Modular Homes, and Mobile Homes market is projected to register a year-over-year growth rate of XX% over the forecast period.
The study also deciphers the business scenario in all its geographical and product segments. Moreover, it analyses the competition in this vertical by investigating the hierarchy of the top organizations. In addition, recommendations and conclusions for the measures that should be undertaken by businesses for dealing with the disruptions caused by the Covid-19 pandemic are discussed at length.
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Latest Study explores the Manufactured Homes, Modular Homes, and Mobile Homes Ma - GroundAlerts.com
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CHICAGO, IL / ACCESSWIRE / February 15, 2021 / Significant demand and media attention has been brought to mobile home parks recently and for good reason. Mobile home parks were the top-performing real estate class in 2020 as stated by Green Street Data. Mobile home parks had a 12% increase in commercial property value when a majority of other commercial real estate asset classes struggled in 2020.
A worker earning the average wage does not have many other housing choices, with the national mobile home park lot rent at $375-425 range per month in a majority of the country. In comparison, the average rent on a one-bedroom apartment was $892 a month in 2017. Families have even fewer choices. A two-bedroom apartment was $1,103, according to the Fair Market Rents kept by the U.S. Department of Housing and Urban Development according to Manufactured Housing Institute.
Important trends show a surge in the population aging into retirement increases the demand for affordable housing. The age 55-plus cohort in the U.S. will grow by nearly 1.7 million people in 2020, and through 2025, another 7.6 million will reach this milestone. As these residents retire, many will consider purchasing manufactured homes in age-restricted communities, boosting mobile home park demand even more.
Midwest Park Capital is a private real estate investment firm providing accredited investors with exclusive access to high-yield investments in the Mobile Home Park vertical. Our fundamental strategy is to assemble a diversified portfolio of low-risk, high cash-flow mobile home park assets with the goal of delivering capital preservation, consistent quarterly cash-on-cash income paired with equity growth. We achieve this objective by acquiring, then adding-value or repositioning under-valued, mismanaged, sub-performing, or improperly capitalized income-producing assets. Investing passively allows you to get the cash flow and tax benefits of owning real estate, without the headaches of being a landlord.
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As middle and lower-class families continue to be pressured financially, growing demand for inexpensive housing makes mobile home parks the most attractive housing option for the average American earner which currently is around $33k per year. Mobile homes will continue to be the best option for those unable to pay the high costs of conventional homes and ever-increasing apartment rents. Mobile home parks are typically 1/3 the cost of a single-family house or 1/2 that of an equivalent apartment building in the same community.
Due to increasingly burdensome zoning regulations, few mobile home parks are being built with approximately only 10 new parks developed in the past 20 years. These government regulations artificially constrain the supply of mobile home parks. In addition, profit margins for mobile home park developers are often inferior to those in the apartment industry. Finally, many parks are redeveloped or torn down every year for bigger real estate projects that bring in higher tax revenue to the community.
The cost of moving a mobile home is roughly $5,000-$10,000 along with the headache of hiring a fully licensed transporter driver and a licensed and insured technician team to disassemble all the utilities. This is too high of a cost for most of the residents in a mobile home park. Mobile home parks in which you rent the land to the homeowners have a much lower turnover ratio as compared to apartments as the average mobile home tenant stays 14 years in the same community. In most cases, once the home is moved into a park, that home will stay for decades. When residents decide to move, they simply resell the home which remains in the park and the new homeowner becomes a tenant.
For 5 decades, mobile home parks have outperformed other real estate sectors. Even outperformed other real estate sectors during the most recent recession by a large margin and were the top-performing real estate asset class even in 2020. Mobile home parks increased in value by 12% when a majority of other real estate asset classes went down in value during Covid-19. Demand for mobile home parks which are the only affordable housing and non-subsidized option actually increases as the economy tightens. The unique, favorable economics of mobile home parks produce superior risk-adjusted returns for investors in 2021 and the foreseeable future.
Looking forward to the rest of 2021, with the US facing a potential dollar collapse and the economy looking unstable due to Covid-19 restrictions and closures. Mobile home parks historically tend to do even better during economic downturns as they provide the only form of non-subsidized low-income housing and serving the 60 million Americans who need affordable housing. Factor in that the average household income for 20% of all Americans is under $20,000. Based on the government's suggested ratio of housing costs to total income about 33% of these families can afford around $500 per month. Mobile home parks are the only option for this large percentage of the US population. Mobile home parks are very well-positioned to outperform the markets and properly position to hedge inflation for the foreseeable future.
Contact:
Midwest Park CapitalJonathan TuttleInfo@MiwestParkCapitalFund.com833-MHP-FUNDwww.MidwestParkCapital.comwww.MidwestParkCapitalFund.com
SOURCE: Midwest Park Capital
View source version on accesswire.com: https://www.accesswire.com/629641/Why-Mobile-Home-Park-Investments-Will-Thrive-in-2021
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Why Mobile Home Park Investments Will Thrive in 2021 - Yahoo Finance
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Sandie Hayes found her way out of a homeless shelter and into one of 30-subsidized units in the Solace Apartments in St. Peter in 2019.
The new setting provided the kind of housing stability her life was sorely missing. It helped Hayes escape a troubled relationship and aided in her pursuit of sobriety. She could easily tap into supportive services, including on-site Alcoholics Anonymous meetings and connection to mental health offerings.
Im alone now. I love myself. And Im not in a toxic relationship anymore, Hayes recounted recently. If I didnt have housing like Solace, that wouldnt happen for me.
Hayes shared those personal details with Minnesota lawmakers, who are searching for ways to replicate the success story.
Whether its people trying to get back on their feet or its companies struggling to expand because there are few places for workers to live, affordable housing is in critical demand.
Minnesota Housing, a state agency, estimated last year that more than 550,000 households devoted at least 30 percent of their income sometimes much more to housing. That benchmark is one measure of housing insecurity.
Rep. Alice Hausman, DFL-St. Paul and the chair of a legislative housing committee, said the problem has only grown more acute over the past year.
Housing was already a crisis. It has become even greater since the pandemic and jobs that were lost and people who are one paycheck away from not being able to pay their bills, Hausman said.
Sen. Rich Draheim, R-Madison Lake and head of a Senate housing panel, hears much the same.
When I travel the state, thats the number one thing I hear from chambers and business people is they dont have enough affordable housing, Draheim said. They have a hard time attracting people because they cant find anywhere that is affordable.
A 2018 Housing Task Force estimated the need for 300,000 new housing units in Minnesota by 2030. While that figure covers all types and price points, the task force found the most significant need was for places where low-income families could call home.
Legislators from both parties are pushing bills to address the lagging stock of emergency shelter space, adequate multi-family housing at affordable rents and availability of entry-level, single-family homes.
Proposals range from increased assistance for rent or mortgage to state borrowing toward new housing development and building rehab projects.
Sen. Rich Draheim, R-Madison Lake is head of a Senate housing panel.
Draheim has introduced legislation to redefine how Minnesota Housing chooses projects for funding. Under his proposal, state officials would prioritize projects that are ready to build over future planned projects. Minnesota Housing would also have a cost-per-unit spending cap where projects that cost more than the median cost of a house in the community where that project is being built wouldn't get funding.
"The premise of the bill is 'What can we do to get more housing units overall?'" Draheim told lawmakers Tuesday at a Senate Housing Policy and Finance Committee hearing.
Draheim would also like to see more state money divvied up throughout the state. His proposal includes stipulations that housing funding be split by congressional districts throughout the state.
Housing advocates and state officials agree with Draheim's premise, but several organizations took issue with the senator's proposal, fearing it would have unintended consequences and could make some Greater Minnesota projects more expensive.
Draheim told lawmakers he was willing to work with other groups to provide different language or exceptions as needed, but he would like to see the agency concentrate on getting as many housing units built as possible.
He said after the hearing that his proposal is meant to spur more action on the agency's part to address housing shortages, but the state needs to start tackling the problem with new approaches.
"I think this is a logical step in trying to use these resources the best that we can," he said.
Lawmakers are hearing from civic leaders, business owners and housing specialists from across the state Alexandria, Grand Rapids, St. Peter and beyond. Thats probably by design.
Rep. Aisha Gomez, DFL-Minneapolis, said it highlights how substantial the statewide need is. She chairs a House committee focused on combating homelessness.
Housing supply and affordability impact every single community across Minnesota, Gomez said. And I know were going to have to continue to beat that drum because there is this sort of mistaken impression that it just impacts the urban core.
Take Roseau as an example.
Todd Peterson, community development coordinator in the far northwestern Minnesota city, said there are seldom vacancies in its affordable housing stock a chronic problem he says has made it tough for the industrial area to fill job openings.
We just dont have the housing to house those people we need to bring in to work at those jobs, Peterson said. Weve tapped out our labor force and without additional housing we just cant move forward.
Dedicated workforce housing grants are among several proposals in the mix. Measures pushed by Gov. Tim Walz include $100 million in housing infrastructure bonds to foster more supportive housing, senior housing and manufactured home parks.
Since 2012, lawmakers have authorized $415 million in housing bonds that have supported $775 million in total development when local and private money is factored in. Housing Commissioner Jennifer Ho says the return on investment is strong.
Thats jobs. Thats economic development. Thats getting people to work, Ho said. And its also creating or preserving over 4,700 units.
Program skeptics say the cost-per-unit is too high.
The reasons are many: The prices of lumber and other construction supplies are up. There are permit fees that builders say drive up their costs. Many government-subsidized projects come with wage requirements for construction crews.
Were chasing perfection with the cost of building a new home or a new unit, Draheim said.
He said the debate shouldnt be limited to how much the state antes up.
We have to look at zoning, energy code, building code, density, he said.
The housing construction discussion could get tangled in the brewing debate over what to do about evictions once a COVID-19-prompted moratorium goes away.
Key lawmakers say they hope to keep the two separate, but that might not be possible as the session goes on.
Mankato Free Press Staff Writer Trey Mewes contributed to this story.
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AMARILLO, Texas (KAMR/KCIT) As temperatures continue to drop across the High Plains, these colder temperatures could mean costly repairs if you dont prepare right.
Matt Cobb, site manager with Carpet Tech Amarillo, said the last time they had a cold snap like this in 2016, they averaged 30 calls a day for the week of December 19th for flooded homes and they are anticipating a busy weekend ahead.
They are pretty frequent. Weve had quite a few this week and we are definitely expecting a bunch this over this weekend, said Cobb.
Cobb said to avoid your pipes freezing, you should shut off outside water spigots and set your interior faucets to drip to keep water flowing so they dont freeze.
Cobb said that homes that sit up off the ground such as manufactured homes or homes with pier and beam foundations can run a higher risk of freezing pipes.
Any home that is off the ground and that doesnt have a concrete foundation. If its a pier and beam home, if its a mobile home, a manufactured home. Any of those typically run a higher risk for freezing pipes just because they are exposed and not laid and poured into the concrete, said Cobb.
He said when a frozen pipe bursts it can cause serious damage.
Ive seen some pretty amazing things that water has done from a frozen pipe or a busted pipe or a thawing pipe. Its cold and then it warms up and then it just floods the whole house, said Cobb.
Cobb added, Hardwood floor, obliviously anytime wood gets wet it will expand or contract a little bit once it dries and then it will buckle. You may potentially have to remove the entire wood floor and have it replace. Carpet, there is a risk if you dont get those out of there and dry them properly of mildew smells or even mold.
Atmos Energy Friday also released some safety tips for warming your home during these bitterly cold temperatures.
Michael Gonzales, public affairs manager with Atmos Energy said to never use an oven or a gas stovetop to heat your home and to safely remove snow from vents for dryers and other natural gas equipment as both of these things can lead to a dangerous buildup of carbon monoxide gas in your home.
Gonzales also added if you think you smell gas to leave the area immediately and from a safe distance call 911 and the Atmos Energy emergency number at 866.322.8667.
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Map of fires in northwest Oregon, September 13, 2020, while the fires were still spreading.
FEMA has begun moving Manufactured Housing Units (MHUs) onto a newly constructed site in Mill City, Oregon that will provide temporary housing for qualified wildfire survivors and their families.
Several communities southeast of Salem along Highway 22 suffered severe impacts from the Beachie Creek and Lionshead Fires which grew large during the wind event of September 7 and 8, 2020. Some of the worst hit towns were Mill City and Gates.
Construction on the new Mill City site began earlier this month, with work completed ahead of schedule. The site is currently scheduled to receive 13 manufactured housing units (MHUs) and can accommodate up to 16 MHUs, providing necessary temporary housing for the qualified residents of both Linn and Marion counties.
As soon as all MHU are delivered and placed on site, each unit will be given a final inspection ensuring they are ready for occupancy, and families will be scheduled to move into their temporary homes.
To date, 85 families whose homes were severely damaged or destroyed by this years wildfires have been approved for temporary housing units. These units are placed in established RV parks or in FEMA constructed group sites.
In addition to Linn and Marion counties, FEMAs Direct Housing mission is establishing temporary housing for qualified disaster survivors in Jackson and Lincoln counties in sites like the one in Mill City. Housing units are chosen by FEMA based on the survivor family composition and needs, as well as to ensure that requirements for access or functional needs are met.
Currently, 240 qualified families are scheduled to receive FEMA Direct Temporary Housing in the four counties. The current number of qualified families has fallen as many households that qualified for this assistance have located alternate temporary or permanent housing on their own.
Other programs for fire victims such as rental assistance may be available. Apply online at DisasterAssistance.gov, by downloading the FEMA app, or by calling the disaster assistance helpline at 800-621-3362 from 7 a.m. to 10 p.m. PDT, seven days a week.
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