George Allen / EducateMHC Blog Mobile Home & Land Lease Community Advocate & Expert

Blog Posting # 671 @ 31 December 2021: EducateMHC

Perspective. ‘Land lease communities, previously manufactured home communities, and earlier, ‘mobile home parks’, comprise the real estate component of manufactured housing!’

EducateMHC is the online national advocate, asset class historian, data researcher, education resource & communication media for all land lease communities throughout North America!’

To input this blog and or affiliate with EducateMHC, telephone Official MHIndustry HOTLINE: (877) MFD-HSNG or 633-4764. Also email: gfa7156@aol.com & visit www.educatemhc.com

Motto: ‘U Support US & WE Serve U!’ Goal: to promote HUD-Code manufactured housing and land lease communities as U.S. # 1 source of affordable attainable housing! Attend MHM class!

INTRODUCTION: This week’s blog materialized as I replied to the usual daily collection of email messages from friends and business associates throughout the manufactured housing industry and among land lease communities. Decided it might be interesting to you to read about what’s been going on around here for the past week or so. So….

I.

NEW YEARS EVE MUSINGS

First off, a sincere Thank You to many ‘friends in the MHBusiness’ who sent Carolyn and me holiday gift packages of fresh Florida citrus fruit, genuine Lebanese ‘extra virgin’ olive oil – and other Mediterranean treats, an equally genuine YETI – insulated travel flask, and such a variety of fudge, sausage, cheese, and other goodies!

Especially appreciated the manufactured housing-themed greeting cards from MHI and Monroe & Giordano. And the family photographs of the DeMarco families at Security Mortgage in NY.

I exhibited symptoms of Covid-19 on Saturday, 18 December, so checked-in to a local hospital, where the diagnosis was confirmed. Kept me there most of the day, until they infused me with the same pharmaceutical administered to President Trump awhile back. Told me I’d feel like new in 12 hours – and I did. But have been quarantined at home with Carolyn until 28 December, when I tested ‘negative’ for the virus. This meant we canceled a large family dinner Christmas Eve, and spent the holiday alone at home – our 58th Christmas together, except for my year in Vietnam.

Sad news. Learned from Rick Robinson of Bill Matchneer’s untimely death on Christmas day. Many of you will remember him from his days as head of HUD’s manufactured housing division. Sorry, but have no further details.

Have you seen the list of manufactured housing industry notables who comprise the Class of 2022 Inductees into the prestigious RV/MH Hall of Fame in Elkhart, IN.? They are Eugene Landy of real estate investment trust UMH Properties in NJ; Tim Williams of 21st Mortgage in TN; Harry Karsten of Karsten Homes in CA; Raylen Gritton a MHRetailer in CA; and David Carter from FL. The Class of 2022 will be officially inducted at the annual Hall of Fame banquet on Monday, 15 August 2022. For more information, phone (574) 293-2344. Plan now to attend; anyone who’s anyone in MH will be present for the festivities!

II.

THE B-ATTITUDES OF JOURNALISM

John W. Fountain is an award-winning columnist, journalist, and author, working out of Chicago, IL. In 2006 he delivered the Samuel E. Cornish memorial Lecture at the World Journalism Institute in Atlanta, GA. The lecture was titled ‘Mightier Than the Sword’

Within the presentation Fountain introduces his B-Attitudes of Journalism. While somewhat reminiscent of my personal ‘writing bromide’, the ABC3 Rule of Good Communication, Fountain digs much deeper.

First, the ABC3 Rule of Good Communication. Be Accurate, Be Brief, Be Clear, Concise & Complete! – when communicating in person and in print!

Now onto Fountain’s B-Attitudes of Journalism.

Be accurate. A journalist never sacrifices fact for details.

Be honest.. To the craft, to the reader, to your editors.

Be professional. Be on time; do quality work.

Build on good mechanics. Master the fundamentals of journalism.

Be consistent and diligent with writing and reporting. Regularly practice the craft. Diligently work in school to learn how to do good journalism.

Be a reader. Good writers are Good readers.

Be thick-skinned. Learn to take criticism and grow.

Be confident. As a journalist, there are hills and valleys. Don’t judge your worth by a difficult valley experience.

Build a network of support. Editors, colleagues, non-journalist friends and family can lend perspective and balance.

Be patient. Write and rewrite, understanding that good writing is a process.

Bring your perspective. Your uniqueness will generate unique stories and enable you to tell a story as only you can.

Be excellent. One can’t argue with excellence!

Believe. In the story, in the power of journalism, in your ability to make a difference.

BE. Rather than talking who you are, just BE who you are.

I can think of many a journalist who should be reading and practicing those Be Attitudes!

George Allen, CPM, MHM

Blog Posting # 670 @ 24 December 2021: EducateMHC

Perspective. ‘Land lease communities, previously manufactured home communities, and earlier, ‘mobile home parks’ comprise the real estate component of manufactured housing!’

EducateMHC is the online national advocate, asset class historian, data researcher, education resource & communication media for all land lease communities throughout North America!

To input this blog and or affiliate with EducateMHC, telephone Official MHIndustry HOTLINE: (877) MFD-HSNG or 633-4764. Also email: gfa7156@aol.com & visit www.eduatemhc.com

Motto: ‘U support US & WE Serve U!’ Goal: to promote HUD-Code manufactured housing and land lease communities as U.S. # 1 source of affordable attainable housing! Attend MHM class!

INTRODUCTION: As we enter this holiday season and prepare to begin a new year, be vigilant of those influences helpful to your line of work within manufactured housing and land lease communities. Here’s just two matters for you to read and ponder: Why do some folk insist on pontificating info they know little about; and, are you EMP-prepared? George Allen

I.

BEWARE FALSE FACTS!

It’s happening already; businessmen and women who should know better, are trafficking in false information! Just this past week on FACEBOOK, in a list of five questions purporting to explain ‘Why land lease communities are disappearing’ (Actually, the writer used a past term for the realty asset class, compounding the false information problem), the bold but inaccurate statement was put forth: ‘estimate only ten land lease communities have been developed during the past two decades’. Nothing could be further from the truth! There have been dozens of new communities developed throughout the U.S., during the past decade. Just ask landscape architect consultant Don Westphal, in MI, for a list of just his developments and expansions. And talk to the REITs (real estate investment trusts) about communities they’re developing in TX, FL, and elsewhere. Ask Ed Zeman and Jamie Dougherty about their communities in MI.

To me, this sudden appearance of false information belies a credibility problem besetting the manufactured housing industry and land lease community real estate asset class. With so many industry and property veterans retiring this past year, the internet is ripe for exploitation by individuals, many of whom are new to MH and communities, to seize the moment and put forth their theories and thoughts as to what what’s happening in their realms of experience and investment.

So, be alert to what you read and believe.

II.

ARE YOU EMP-PREPARED?

For a moment, stop and consider the dire consequences of being totally without electric power to light and heat one’s home, operate vehicles, and communicate via telephone, radio, TV and otherwise! Frankly, I’d not given the matter any thought until I read a novel recommended by a junior executive friend at the Federal Housing Finance Agency in Washington, DC. The book? ONE SECOND AFTER, by William R. Forstchen (Available for $10 from Amazon.com). There are two sequels in the EMP-centered triad of novels.

Here’s what I learned. Complete chaos will reign following an electromagnetic pulse, until individuals grasp what is going on and work to ameliorate the severe consequences of no longer having power to do anything beyond lighting a campfire, drinking water from a stream, and gathering together for warmth and protection. That’s the message, clearly set forth in the novel – which follows the lives of individuals in a small college town in western North Carolina. What replaces dollars and coinage as valuable legal tender? Bullets! Bullets needed to hunt local wildlife; and eventually, protect lives.

I’d allowed this ‘wakeup call’ message to fade somewhat from memory during ensuing years – until I read a recent email message from stormrecovery@srp24.com earlier this month. Here’s an edited portion of a paragraph labeled ‘Electromagnetic Pulse’:

“Israel and Iran are preparing for war. China is planning to annex Taiwan. Russia is amassing troops to annex the rest of Ukraine. China and Russia are working in cooperation and will likely strike simultaneously. To prevent the U.S. from aiding each of its’ allies, it is likely China will encourage North Korea to deorbit two satellites down to an altitude of 140 km above the earth. The President’s EMP Commission states that both satellites are likely carrying nuclear weapons. By detonating the nuclear weapons at that altitude, the gamma rays from the nuclear explosion will interact with the edge of the atmosphere and generate a very strong electromagnetic pulse (‘EMP’). The pulse is about 5,000 times stronger than a cell tower. It encompasses the AM and FM radio bands and travels at the speed of light. An EMP can cause a voltage spike of 50,000 volts or more in power lines and metal cables, and generate several thousand amps of current. The spike is a thousand times faster than lightning. Conventional lightning surge arrestors are too slow to stop it. Any electronic equipment that is not EMP-protected, including backup generators and vehicles, will no longer function. An EMP could cause a grid outage lasting a year of more.”

Is that scary enough for you? Is your home and business, as well as personal and corporate vehicles EMP-protected? Probably not. Even though some military vehicles are, many are not. Now is time to begin preparing for the consequences of an EMP strike in the atmosphere above our nation!

But what to do? Suggest you google ‘EMP-preparedness’. There you’ll find many resources containing information as to steps to take to be better prepared for such an emergency if/when it occurs. You decide what to do now and what to consider later.

Blog Posting # 669 @ 17 December 2021: EducateMHC

Perspective. ‘Land lease communities, previously manufactured home communities, and earlier, ‘mobile home parks’, comprise the real estate component of manufactured housing!’

EducateMHC is the online national advocate, asset class historian, data researcher, education resource & communication media for all land lease communities throughout North America!

To input this blog and or affiliate with EducateMHC, telephone Official MHIndustry HOHTLINE: (877) MFD-HSNG or 633-4764. Also email: gfa7156@aol.com & visit www.educatemhc.com

Motto: ‘U Support US & WWE Serve U! Goal: to promote HUD-Code manufactured housing and land lease communities as U.S. # 1 source of affordable attainable housing! Attend MHM class!

INTRODUCTION: This week, the most important ‘industry message’ appears as Part II, ‘Revisit DOE Proposal Crisis!’ – a continuation of last week’s warning from MHARR relative to MHs ‘twin crises’. As you read it, keep in mind: ‘If you’re not part of the solution, you’re surely part of the problem!’ So, get on the ball and work with MHARR, MHI, and others to fight DOE’s proposed rule relative to energy conservation mandates for manufactured housing! Part I? Well if you’re getting to be ‘long in the tooth’ (i.e. older, elderly) here’s human potential encouragement!

I.

YOU OLD? READ THIS!

Here’s clear evidence human potential does not cease at some arbitrary age. Following paragraph is quoted from the Handbook to God’s Promises, by Kenneth Boa & William Kruidenier. The 707 pages book was published during year 2020 via reflections.org.

“Antonio Stradivari (1644-1737), also known as Stradivarius, fashioned two of his most famous violins, the ‘Habeneck’ and the ‘Muntz’, in his early 90s. Noah Webster (1758-1843) published his two-volume American Dictionary of the English Language, at age 70. Galileo (1564-1642) published his masterpiece, Dialogues Concerning Two New Sciences, at age 74. Frank Lloyd Wright (1867-1959) designed the Guggenheim Museum in New York City at age 91. At age 84, Agatha Christie (1890-1976) oversaw production of the movie Murder on the Orient Express, based on her novel of the same name. Golda Meir (1898-1978) served as prime minister of Israel from age 70 to age 76. Peter F. Drucker (1909-2003) wrote Managing in Turbulent Times at age 71 and Management Challenges for the 21st Century, at age 89.” P.302

Know what? That sage observation tells me I was right to pen my autobiography, From SmittyAlpha6 to MHMaven, last year, my 75th year. Hmm. Wonder what project to take on before I reach 80?*1

How ‘bout you? Getting along in years? If so, NOW is time to begin penning short memoirs describing personal experiences over past years. Then collect and meld them into your autobiography to share with family members, friends, and business acquaintances.

And, to help you along – if you don’t already have a copy, let me know you’d like a FREE booklet titled, Who Will Preserve Your Legacy. Answer: You! Reach me via gfa7156@aol.com
Be sure to include your preferred postal mailing address.

II.

REVISIT DOE PROPOSAL CRISIS!

Last week’s blog posting introduced you to ‘MH’s Twin Crises’ as viewed by the Manufactured Housing Association of Regulatory Reform (‘MHARR’). Well, I was so motivated by Mark Weiss’s description of this thinly veiled attempt to KILL the manufactured housing industry as affordable housing, that I prepared – and will soon be sending letters to 11 state attorneys general and ten state MH association directors identified in the MHARR communique of 9 December 2021. Suggest you read what I’ve penned – following, and consider doing the same!

TO: Appropriate party

FROM: George Allen, CPM, MHM, author of SWAN SONG, a history of land lease communities & Official Record of Manufactured Housing Shipments since 1955.*1

SUBJ: DOE proposed rule relative to energy conservation mandates for manufactured housing

HUD-Code manufactured homes, since 1976, have been fabricated to incur energy costs lower
than site-built on a whole-home basis; at the same time ensuring purchase price affordability
for home buyers at all income levels! Hence, the Department of Energy (‘DOE’) proposed rule
relative to energy conservation mandates for manufactured homes is redundant.

Furthermore, the DOE proposed rule stresses speculative ‘life-cycle’ energy cost savings,
ignoring the high purchase price impact said rule would have on prospective homebuyers’
purchase (price) of mainstream manufactured homes!

Key points? HUD-Code manufactured homes are already more energy efficient than stick-built
homes. And spreading the cost of DOE rule implementation in new manufactured homes out
over years is moot if it causes the home buying market to be unable to afford heretofore ‘most
affordable housing alternative in the U.S.’

So please withdraw your support of DOE’s unnecessary and ill-conceived proposed new energy
standard for manufactured housing.

End Note.

1. Both books available for purchase at www.educatemhc.com Maybe even purchase and give copies as holiday gifts this month!

George Allen, CPM, MHM
EducateMHC

Blog Posting # 668 @ 10 December 2021: EducateMHC

Perspective. ‘Land lease communities, previously manufactured home communities, and earlier, ‘mobile home parks’, comprise the real estate component of manufactured housing!’

EducateMHC is the online national advocate, asset class historian, data researcher, education resource & communication media for all land lease communities throughout North America!

To input this blog and or affiliate with EducateMHC, telephone Official MHIndustry HOTLINE: (877) MFD-HSNG or 633-4764. Also email: gfa7156@aol.com & visit www.educatemhc.com

Motto: ‘U Support US & WE Serve U! Goal: to promote HUD-Code manufactured housing and land lease communities as U.S. # 1 source of affordable attainable housing! Attend MHM class!

INTRODUCTION: According to MHARR the manufactured housing industry is faced, today, with twin crises. And some might add ‘a third’ in light of the fact our industry appears to be incapable of reporting a consistent number of new HUD-Code homes shipped monthly.

I.

MH’s TWIN CRISES

As observed and described by the Manufactured Housing Association for Regulatory Reform in its’ November 2021 communique; actually a Q&A discussion between president & CEO Mark Weiss and an online trade publication.

Did you even know manufactured housing is faced with twin crises? Well here they are:

CRISIS # 1. The energy matter. Department of Energy (‘DOE’) proposed rule for manufactured housing was once blocked, but then revived in 2014, only to be withdrawn near the end of the Obama administration. Since then there’s been back-and-forth legal maneuverings, culminating in a requirement to publish a proposed standard in 2021, to be adopted as a final standard in 2022. Other related factors? ‘Climate change’ interest on the part of the current administration; failure of the two GSEs to implement their ‘Duty to Serve’ (‘DTS’) plans relative to chattel loans; and, GNMA’s ’10-10’ rule that’s collapsed FHA Title I lending. Result? “…a devastating impact on mainstream manufactured housing….” MW

CRISIS # 2. No post-production trade advocate. “…the industry does not have an independent national post-production representative organization to fight for, advance, and implement full and equal inclusion of manufactured homes in federal government housing largess.” (lightly edited) About which MHAARR continues: “MHARR is not – and will not become – a post-production association.” Understood. But it does bring to mind proverbial truism: ‘If you’re not part of the solution, you’re part of the problem!’ And I do understand MHARR’s frustration about this matter, but from a different perspective. On 26 October 1993, during a meeting in Dallas, TX. land lease community portfolio owners/operators drafted a Mission Statement and Strategic Objectives for what they hoped would be a ‘post-production association’. Well, long story short, these 19 executives and the Manufactured Housing Institute (‘MHI’) launched the National Communities Council (‘NCC”) on 1 January 1996. While it got off to an enthusiastic start, under the leadership of Jim Ayotte, CAE, it didn’t take long for cronyism and political upmanship to prevail. And while the NCC is a division within MHI today, it has not – in my opinion – come anywhere near being the post-production association envisioned and needed today.*1

So, where to go from here? That depends on how serious you feel these twin crises are for the manufactured housing industry and land lease communities nationwide. In the first instance, do as I did in years past, make it a point to attend and participate in DOE public hearings on the proposed rules. Second; well, that depends on how content you are with attending one well-attended Leadership Forum, sponsored by the NCC each year, or whether you too believe there should be a salaried MHI executive actively leading the division in advocating for professional property management, fair treatment of homeowners/site lessees, and more.

End Note.
1. For more information on this subject, read The First 20 Years, penned by the late Bruce Savage, former communications executive of MHI. Available via www.educatemhc.com

II.

9,254 VERSUS 9,247

Well, I guess this leopard will not, or cannot, change its’ spots – as the bromide goes. The first of the two numbers shown above, ‘9,254’ is how many new HUD-Code homes the Institute for Business Technology & Safety (‘IBTS’) says were shipped during the month of October 2021. IBTS is HUD’s official contractor for ‘keeping score’ of new HUD-Code homes shipped monthly. The second number, ‘9,247’ is a different number of new HUD-Code homes shipped, as reported by the Manufactured Housing Institute (‘MHI’).

What’s significant about this difference in ‘the number of new HUD-Code homes shipped’ is that during the previous two months, August & September, ALL reporting entities: IBTS, HUD, MHARR, MHI, & EducateMHC announced the very same shipment totals! But now MHI has reverted back to adjusting the industry’s official total by the number of Destination Pending units recorded by IBTS. Go figure.

George Allen, CPM, MHM

Blog Posting # 667 @ 3 December 2021: EducateMHC

Perspective. ‘Land lease communities, previously manufactured home communities, and earlier, ‘mobile home parks’, comprise the real estate component of manufactured housing!’

EducateMHC is the online national advocate, asset class historian, data researcher, education resource & communication media for all land lease communities throughout North America!

To input this blog, and or affiliate with EducateMHC, telephone Official MHIndustry HOTLINE: (877) MFD-HSNG or 633-4764. Also email gfa7156@aol.com & visit www.educatemhc.com

Motto: ‘U Support US & WE Serve U! Goal: to promote HUD-Code manufactured housing and land lease communities as U.S. # 1 source of affordable attainable housing! Attend MHM class!

INTRODUCTION: We’ve all heard the idiom (‘a form of expression’) to ‘not know any better’. Which is to say, someone does ‘not have the knowledge…to make an informed decision.’ Well, this is where today’s blog posting begins and ends. In summary, while HUD-Code manufactured housing IS the Solution to the Middle Housing Market Crisis in the U.S. today, home builders and realty developers are generally unaware how to bring this ready resource (housing) and need (shortage) together in a working, ongoing, positive fashion! Read on…

I.

SOLUTION TO MIDDLE HOUSING MARKET CRISIS

Manufactured Housing has been, and continues to be, The Solution to the affordable housing supply crisis in the U.S. today; a crisis a.k.a. (also known as) ‘the right kind of middle housing market solution’, i.e. affordable factory-built housing sited within land lease communities on rental homesites, and or on privately-owned scattered building sites within and outside platted subdivisions!*1

What are we talking about here? Well, during late November, almost simultaneously, two real estate investment-related trade publications (neither with any connection whatsoever to manufactured housing and land lease communities) published informative and insightful articles on this timely housing topic; titled:

‘Is Single-Family Build-to-Rent a True Missing Middle (housing market) Solution?’ Subtitled: ‘The model quickly delivers the right kind of housing….’ P.24 of Multifamily Executive magazine.
&
‘Housing Market Trends Fuel Single-family Home Rentals’, i.e. “…the star of the real estate show today (2021-2022) is the build-to-rent space.’ Alex Veiga writing for the Associated Press.

Well, as manufactured housing executives and land lease community owners/operators well know, the industry and realty asset class, ‘for decades’ has been active, in and out of the single-family home rental business! Rental manufactured homes were commonplace in (then) manufactured home communities in the 1970s, until consolidation prevailed and it became easier to sell a ‘community’ occupied by tenant-owned homes, not rental units. And, it’s also well known that manufactured homes have oft been purchased for placement on privately-owned realty (e.g. farms), to be rented out to family members and transient labor. Today or more accurately since year 2010 +/-, manufactured housing is back in the rental home business, with new HUD-Code homes routinely sold into land lease communities and used as rental units. Here, think Sun Communities, RHP Properties, YES! Communities and others. For that matter, quoting from the 32nd (& final) ALLEN REPORT, circa 2021, “26 of 92 respondents (to this survey) confirm the presence of 26,528 rental homes on-site in their communities, for an average of 1,020 rental homes per (reporting) portfolio.”

Here’s the enigma (‘riddle, anything puzzling’): Given the widely recognized need for affordable single-family housing throughout the U.S. today, and the seeming solution being new rental units (a.k.a. ‘build to rent homes’), why are developers of new housing tracts not flocking to factory-built housing in general, HUD-Code manufactured housing in particular, especially the relatively recent CrossMod™ design?

Before I proffer an answer to that tripartite question, let’s take a look at what non-manufactured housing real estate observers and pundits are writing and saying on the matter.

Today, only 5.4 percent of the single-family rental housing national market is cornered by REITs and investors (not Mom & Pop investors – who account for an even larger market share of ‘rentals’) who’re focused on renting single-family homes they’ve acquired. They are now (maybe) being joined by builders eyeing this entry market to affordable housing, having built 47,000 new homes during the past four quarters.

Here’re some miscellaneous points from the aforementioned trade publication articles:

“The missing middle – defined here as households who earn between 80% & 120% of the area median income (‘AMI’), occupies a difficult position in the housing market. In many areas, households at this level do not qualify for subsidized housing, cannot afford the housing options in a given (local housing) market, and have very little in the way of smaller-scale housing options from which to choose.” P.24. This comment relates to the first article title quoted earlier.

What’s causing this inability of prospective homebuyers and renters to find affordable housing? “…a perfect storm of causes, among them high land prices, building material prices, and regulatory considerations that drive builders toward larger and more elaborate homes in order to justify the cost of a purchase.” P.24.

So, “…single-family build-to-rent has emerged as an asset class that delivers precisely what this (middle) group wants. Scalable built-to-rent models provide what developers are rarely incentivized to build – small-scale housing, attached or detached, with lower barriers to access than the single-family for-sale market.” P.24. And who routinely designs and fabricates small-scale housing to a preemptive national building code? HUD-Code manufactured housing!

OK, back to ‘an answer to that question’ about developers not flocking to purchase and use HUD-Code manufactured housing as single-family rental housing. What follows is my opinion, honed during 40+ years as an observer of manufactured housing and land lease community owner/operator:

• To begin with, developers simply do not know who we are, nor do they understand how and why HUD-Code manufactured housing is so affordable, and how it answers today’s housing needs – especially in the middle market.

• The business mindsets characteristic of site-built housing and manufactured housing pros are different, as different as learning to fly a single engine airplane versus a commercial airliner. Manufactured housing execs are hyper-sensitive to every cost factor that increases product cost. Site-builders, on the other hand, oft seem happy to include cost increase factors, often faddish, that lead to ‘bigger box = bigger bucks’ home sale prices.

• Then there are the conceptual and practical differences between building custom homes stick-by-stick, by dint of employing cost saving principles of inventory control, mass production, in—plant climate control, and use of skilled but casual labor, throughout the building process.

Bottom line? We have never been very good, as an industry or realty asset class, at marketing ourselves across housing and community types and lines. Folk simply do not know about us; and when they do, they certainly do not understand what makes us tick. Until that changes, we will remain, sad to say, ‘dead in the water’ as a comprehensive housing provider, especially to the underserved middle market!

Consequence? Again, there’s a major need for our housing type and communities on the national scene these days, and it will continue to be unmet until we, including our national advocates, educate site-builders and developers as to why our product perfectly fills their need for affordable, single-family rental housing!

End Notes.

1. Right up front, let’s agree on the official definition of affordable housing. “Housing is Affordable when an individual or household’s Annual Gross Income (‘AGI’), or local housing market’s Area Median Income (‘AMI’) – identified by postal zip code and available online via zipho.com, can lease a conventional apartment and or buy a home in this local housing market, using no more than 30 percent of said AGI, or AMI, for shelter and related household (utility) expenses. For example; a $50,000 AGI/AMI X .3 Housing Expense Factor or HEF =$15,000/year or $1,250/month, available for rent or mortgage PITI (principal, interest, taxes, insurance) and household expenses.” Note. Not all lenders include household expenses in this calculation.” Quoted from EducateMHC’s Resource Document titled: ‘Solving Our Nation’s (Lack of) Affordable Housing Crisis, with Factory-built Housing & Land Lease Communities’, by George Allen, CPM, and MHM.

George Allen, CPM™Emeritus, MHM™Master
EducateMHC
Box # 47024, Indianapolis, IN. 46247

(317) 881-3815 & gfa7156@aol.com