Questioning the Affordability of So-Called Affordable Housing

We've noticed the many press releases coming out in recent months about manufactured housing communities being torn down and replaced by class-A apartments. Sometimes, these communities are literally the last areas of affordable housing for the entire town! Well, this citizen of San Luis Obispo, California had the courage to pen a brief but direct letter to the editor of the San Luis Obispo newspaper, The Tribune, calling on the obvious need for more manufactured housing with very simple and excellent points. Truly, some affordable housing just doesn't make sense, but manufactured housing does. Image: "Affordable Housing" in San Luis Obispo On August 28, 2017, Ruth Starr of San Luis Obispo w

HUD Manufactured Home Safety Standards Proposed Update

Some might say, "it's about time", while others may find more regulations create obstacles to production. One of the biggest areas needing attention is certainly fire safety. Every week as we scan the news the number of manufactured homes that ignite and are gobbled rapidly by flames, and lives lost to it, is staggering. When manufactured homes provide such an important and widely used form of housing for millions, and they keep getting nicer (have you seen some of the new models lately?), even luxurious, the fire safety issue has to be addressed. Image credit: Occupational Health & Safety's website summarized the key areas of the proposal nicely: The U.S. Department of Housing

Mandatory Minnesota Mobile Home Park Storm Shelters Not Adequate

Did you know that of all fifty U.S. states that Minnesota is the only state to, by law, require that mobile home parks have storm shelters (at least for those built after 1988, which, as we know, is not many)? Here at The McAnuff Group we know that this topic of mandatory storm shelters at mobile home parks, provided by park ownership, is one that graces the news relatively frequently, particularly during tornado season. Storm safety has always been of importance to our clients for their residents, which is why we've started compiling storm resources for their reference. But, it seems that in Minnesota where the law demands on-site sheltering for mobile home parks after 1988 there are still

Manufactured Housing REITS' Steady Rock Star Double-Digit Returns

When we here at The McAnuff Group get asked if investing in mobile home parks is really as promising as it sounds from a ROI standpoint (and any standpoint, really) sometimes words and case studies simply are not enough to convince an able but skeptical investor whose experience in investing may be rooted in the stock market. So, to the stock market we turn, and specifically to the small but mightily growing Manufactured Housing REITS. While the mobile home parks inside a REIT portfolio are typically Class-A communities, the overall performance is still a good indicator regarding the demand and ROI that many well-maintained mobile home parks of most classes (or star-rating as it's called in

Why Kid Rock Loves his Mossy Oak Wrapped Manufactured Home

“I’m a very impatient person. It comes delivered to the door in two weeks. You can customize a few things in there as you go along. You can put a cool wrap on it. I wrapped mine in mossy oak. Very easy to clean. Simplicity at its finest,” Kid Rock told Dan Rather on his show called “The Big Interview,” as he described the manufactured home that he loves. “You see a lot of people in my business,” Kid Rock said. “You go to these houses and I go where do you start in this thing? Like, how many times do you use the movie theater? I’ve built one. I maybe went in there once.” Since announcing his interest in the U.S. Senate seat currently held by Debbie Stabenow (D-MI), performer Kid Rock has rele

Settlement Finally Reached in Mobile Home Park Sale Battle

For the past few weeks here at The McAnuff Group we have been following the developing news story surrounding Lowry Grove Mobile Home Park. As reported this afternoon, a settlement has finally been reached. Residents were displaced and a charitable fund was set up to help them, and the settlement will ensure that at least some of the land is utilized for more affordable housing by the developer. The Star Tribune reported the details, below, this afternoon. Image source: The Star Tribune August 02, 2017 - 1:28 PM A settlement agreement announced this week appears to mark the end of a heated legal battle over the sale and closure of St. Anthony’s only mobile home park. The developer that bough

Boulder City Promises Not to Displace Mobile Home Park Residents in Sale

Lately we've been hearing about more and more mobile home parks being purchased by cities, counties and local government when original ownership can no longer maintain the property. These are generally, from what we've observed, older mobile home parks that have had a single owner. Sometimes the city or county takes over and forces the residents to move out so the land can be used in another way (most likely because the property is beyond repair), and sometimes the property is preserved as a mobile home park. The following is one of the most recent of such sales, this time in Boulder, Colorado. In this case, the city of Boulder has promised residents that they will not be displaced. Image: d

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