Blog Posting # 687. Copyright @ 30 April 2022. 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, realty asset class historian, trend spotter, education resource & textbook supplier for land lease communities throughout North America!
To input this blog and or connect with EducateMHC, telephone (317) 881-3815, email gfa7156@aol.com and or visit www.educatemhc.com Previous phone #s no longer connected.
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! Be MHM certified!
INTRODUCTION: A primary consequence of not responding to the ‘Put Up or Shut Up!’ challenge of the past two weeks of blog postings? We will likely remain known as the ‘10% Housing Market Share Industry’. Seriously. While 105,772 new HUD-Code homes shipped during 2021 is a notable achievement – it’s still only 10% of the national housing market! Read Part I here following to learn how to increase this to maybe 20% or more market share.
Part II, frankly, is just plain sobering! And Part III should be a wake-up call to our industry.
I.
WE ARE THE 10% MARKET SHARE FOLK!
Yes, our 105,772 new HUD-Code housing units shipped during year 2021 calculates to approximately 10 percent of the national housing market share of single family residential houses started during that time period.
Here’re two ways to look at those numbers. One source announces 1,040,000 single family housing starts, of all types, during year 2021. Ten percent of that market is 104,000 – only 1,772 fewer than HUD-Code manufactured housing’s 105,772 units shipped.*1 Taking this a step further, 10 percent of the average of all four separately-published U.S. housing start totals (i.e. 1,040,000; 1,215,000; 1,238,000; & 1,087,000) = 114,500; still only 8,728 units more than the HUD manufactured housing shipment total for the year.
Point? Year after year it seems, we – as an industry – are stuck (Some say ‘satisfied’) with a measly 10% of national single family housing starts market share. But has that always been the case? No! Way back in 1973, the 579,940+/- new ‘mobile homes’ we shipped (i.e. HUD-manufactured housing code was legislated in 1974 & enacted in 1976) was a whopping 44 percent of national housing market share! And in 1998, the peak of our too sort renascence, the 372,943+/- new manufactured homes we shipped, pegged us at 23 percent of national housing market share! And frankly, there’ve been other similar ‘high points’, during years when national housing starts fell off sharply for various reasons.
OK, assuming manufactured housing ‘powers that be’ want to routinely achieve higher (e.g. 25%+) national market share (Again, some question whether such motivation is real and ready – or not), how might they achieve such a goal?
Well, one of the many responses received to two weeks of ‘Put Up or Shut Up!’ blog postings, suggested a couple common sense, practical measures, and here they are:
The independent (street) MHRetailers and ‘company stores’ should/must reposition themselves to attract and service traditional real estate homebuyers! To do so, they’ll need to become licensed real estate brokers and licensed general building contractors. Frankly, we attempted this during the late 1990s (a.k.a. land-home packages) but failed. Why? In part, because ‘dealers’ did not retrain and become licensed as suggested here. This is a whole new mindset and far more intense than simply selling and delivering (i.e. our DOR, or ‘Drop & Run’ delivery rep) new manufactured homes!
Furthermore, there absolutely must be more raw land development into land lease communities and subdivisions than has been the case anytime during the past 50 years! MHI is headed in the right direction with their efforts to identify and end local regulatory barriers to all forms of affordable housing, ameliorating local housing markets to receptivity of manufactured housing.
But I see significant challenges to the measures put forth in the previous two paragraphs.
• Unless there is already an independent (street) MHRetailers or ‘company stores’ already fully licensed and operating successfully with traditional real estate homebuyers – and willing to share said knowledge and experience with peers; we as an industry, are in the position of having to ‘reinvent the wheel’ to this end. This will not be a simple task.
• Given recent retirements, just who does the manufactured housing industry have on hand now to handle design and engineering of various raw land development projects nationwide? After all, it appears old mobile home parks are disappearing faster than new land lease communities are being developed. That is a sure path to oblivion, if not addressed soon.
• ‘Development, Marketing & Operation of Manufactured Home Communities’ text was published by J. Wiley & Sons in 1992 – a best seller at the time, but now out of print. The three co-authors are retired or deceased. We, as an industry and realty asset class, are in dire need of up to date HOW TO instructions.
• And last, but certainly not least of these concerns, remains the paucity of chattel capital (i.e. home-only loans) available to independent (street) MHRetailers, ‘company stores’, and community owners/operators marketing and selling new HUD-Code homes on-site within land lease communities. At least the sorry matter is being talked about in Washington circles these days, and elsewhere, but the handicap continues to exist.
In closing, it’s been interesting to me how the blog challenge of ‘Put up or Shut Up!’ has stimulated the discussion presented here today. Why interesting? Because, in my mind, it appears we have a classic ‘chicken or egg’ first conundrum. Do we just forge ahead to ‘break free of the 10% market share’ shackle, or do we first stop and decide whether the need is real, serious and timely enough to create a new POST-PRODUCTION ADVOCACY ENTITY for the manufactured housing industry and land lease communities of all sizes – INCLUDING MH subdivisions?*3
All this is why I’m anxious to hear more input from YOU, the blog readers. After all, it’s thanks to those who’ve responded during the past two weeks that this open conversation has progressed this far. Reach me via gfa7156@aol.com And don’t worry ‘bout me divulging your name; happy to keep it confidential if you wish.
End Notes
1. 105,772 is the widely-recognized official manufactured housing shipment total comprised from 12 monthly reports distributed, during year 2021, by HUD’s scorekeeper, the Institute of Building Technology & Safety (‘IBTS’).
2. 579,940+/- & 372,943+/- are burdened with (+/_) uncertainty (and have been from between 1974 & 2013), because four entities (i.e. IBTS, HUD, MHARR, & EducateMHC) report the comprised IBTS total and only one entity reports a different shipment total.
3. To this end, here’s what one veteran land lease community portfolio owner/operator opines: “I always thought a well-funded division of MHI was the way to go. But the NCC division doesn’t seem to be working in its’ present form. If we tried to pump up the NCC, or create a new advocacy group, would smaller operators (like me) support it? Or would we end up being pushed aside by the likes of ELS, SUN, RHP, UMH, etc? Isn’t that the reason MHARR exists? Smaller operators were pushed aside by the big guys?” (lightly edited. GFA)
II.
HAVE YOU HEARD OF THE ‘GREAT RESET’?
Well, I have during the past several months to a year long period of time. Sometimes it refers to
political matters, other times to domestic issues, and on and on. Well, I picked up a new book recently, authored by fairly well known pundit, Glenn Beck. (Do you recall my review of his earlier novel, The Overton Window – it described how we’re influenced by advertising messages, when repeated time and again, cause us to consider something once disliked, as now being OK).
Anyway, the new 317 page tome is co-authored by Beck and Justin Haskins, and carries the subtitle ‘Joe Biden and the Rise of 21st Century Fascism’. Here’s how the book ends: “This book offers a wealth of information you can use to help show others how to recognize the Great Reset for what it really is – a globalist, authoritarian scheme to manipulate virtually every industrialized society on earth….” P.277
Earlier in the book, the authors present this summary: “…how the Great Reset would be fueled (modern monetary theory), how the conditions have come about that make the Reset possible (the coronavirus pandemic), and what the justification is for the destruction of the current world economic system (claims of an ‘existential’ climate change crisis).” P.152.
And this scary thought: “…the Great Reset’s biggest backers have deliberately chosen to use terminology that sounds appealing to many supporters of free markets – like ‘capitalism’, ‘investments’, and ‘stakeholders’ – while meaning something very different from what many of us think of when we hear these ideas discussed in the United States.” P.152.
Does any of this sound familiar to you? “Countless members of the press have argued this is all just a wild conspiracy theory cooked up by the ‘far right’ to scare you. Why should you believe Glenn Beck when the New York Times is portraying the Great Reset in a completely different light? Well, here’s something you won’t hear the New York Times say, especially when it comes to the Great Reset. Do not take my word for it. Do your own homework, and you will see the Great Reset is all too real and that it is an overt power grab by the ruling class, one that might be impossible to fully reverse once it is in place.” P.221.
So, as is oft said, you have been forewarned, now you are forearmed – if/when you look into the Great Reset on your own.
III.
BEST BOSSES
In the March/April issue of Globe St., Real Estate Forum magazine, there’s a feature article titled BEST BOSSES. It begins with this: “On the following pages you will find our selection for Best Bosses in commercial real estate – (35) men and women who have had an indelible impact on their companies and our industry, even as they navigated the unprecedented events of the last two years.” P 15..
As I thumbed through the article and photographs of Best Bosses, I recognized several individuals – but only one, from the interrelated manufactured housing and land lease communities business model. This was DAVE HEGEMANN, founder of London Computer Systems, but better known for Rent Manager property management computer software.
My relationship with Dave goes back to the early 1990s when we launched the annual Networking Roundtables for (then) manufactured home community owners/operators. He was the first vendor to demonstrate computer software developed for the realty asset class. Today his company employs more than 400 and serves customers throughout North America.
So, why am I bringing this accolade to your attention? Simply because – in my opinion – we should and could do a far better job identifying and honoring our ‘movers and shakers’, or as this trade magazine puts it: Best Bosses.
Right now, tributes and citations for pioneers and achievers in our industry and asset class are limited to the RV/MH Heritage Foundation’s prestigious Hall of Fame, MHI’s annual awards to members only, and in the pages of MHInsider magazine. So, it is a ‘big deal’ when our folk are singled out, like this, by others. And Dave Hegemann is certainly worthy of recognition and honor – not only amongst his commercial real estate peers but with us as well!
Point? We need more avenues of recognition among our business leaders, male and female, entrepreneurs and association executives. I can think of at least two possible venues: the annual SECO conference for land lease community folk, and non-member recognition by the Manufactured Housing Institute. What do you think?
George Allen, CPM, MHM
EducateMHC
P.S. Next week, watch for yet another suggestion on how to increase our shipment performance.
April 30, 2022
WE ARE THE 10% MARKET SHARE FOLK!
April 21, 2022
PUT UP OR SHUT UP! – CONTINUED…
Blog Posting # 686. Copyright @ 22 April 2022. 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, realty asset class historian, trend spotter, education resource & textbook supplier for land lease communities throughout North America!
To input this blog and or connect with EducateMHC, telephone (317) 881-3815, email gfa7156@aol.com and or visit www.educatemhc.com Previous phone #s no longer connected.
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! Be MHM certified!
INTRODUCTION: The ‘Put Up or Shut Up!’ blog posting last week touched a nerve throughout the manufactured housing industry and among land lease community owners/operators nationwide. I’ve stopped counting the number of (all positive to date) responses we’ve received to date. Part I, here following, pretty much encompasses the viewpoints expressed in various forms of correspondence to us. And Part II is taking on increased importance as some new owners of communities continue to jack their rental homesite rates and add new fees. Doing so is akin to shooting oneself in one’s foot. We’ve ‘been here before’ and endured the resulting shakeouts among other new players. We’ll continue to watch and report on how this unfolds.
I.
PUT UP OR SHUT UP! – CONTINUED…
Last week in blog posting # 685, you learned of “…criticism that MHI (‘Manufactured Housing Institute’) does not truly and fully advocate for the entire manufactured housing industry, particularly its’ post-production segments (e.g. communities, finance, state associations, service firms, suppliers, etc.)” Criticism articulated by an ‘online publisher, MHARR (‘Manufactured Housing Association for Regulatory Reform’) and others of like mind’.
It was suggested, in the same blog posting, these parties should “…plan and convene a national gathering for everyone interested in improving advocacy for the post-production segments of the manufactured housing industry.” – on the 16th of August at or near the RV/MH Heritage Foundation Hall of Fame, Library & Museum in Elkhart, IN. – the day after the induction of ten RV/MH pioneers and executives are inducted into the prestigious Hall of Fame.
Well, the cited criticism, and possibility of a national gathering to discuss and resolve this perennial issue stimulated responses, plenty of them. And while most of it was positive, there were two reality checks amongst the whole that warrant mention here.
First off, in light of the ‘put up or shut up’ challenge to the online publisher, MHARR, and like-minded individuals, such a national meeting might well cut two ways:
• Is this issue or matter, Real or Not? If the former, it begs inquiry and discussion.
• Furthermore, degree of response to this call for a national gathering will make clear, once and for all, the degree of tacit and real support these disparate parties have.
And then there’s this second reality check. Given the political power brokers at play within MHI today (disparagingly known as the Big Boys Club), especially – in my opinion – in the manufacturers and finance divisions, and National Communities Council (manifested by who’s ‘in power’ or office, at any given time), why not expect this sort of power play to be replicated in any new advocacy organization, especially one birthed to serve post-production segments of the manufactured housing industry? After all, this is pretty much what occurred within the NCC division within a few years after it was formed.
So, given these reactions so soon after this call for national action, where do matters stand at present? I have no idea. But in my opinion, the online publisher, MHARR, and like-minded individuals should ‘man up’, once and for all, and make a very public play for independent post-production advocacy, or STOP complaining about the matter going forward. As said before, ‘Put Up or Shut Up!’
II.
HEADLINE ALMOST SAYS IT ALL!
‘Sitting on a time bomb’: Mobile home (park) residents at risk in red-hot housing market. Yes, that’s the way the headline read in a recent issue of Colorado Newsline. The article was penned by Ariana Figueroa, a reporter in Washington, DC.
In the article we learn there’s an estimated 2.7 million homes in 49 states, 45,600 ‘mobile home parks’, and the 2019 average cost of a manufactured home was $82,000.
And we also learn this: “Mobile home parks (i.e. land lease communities) provide affordable housing for millions of low-income residents – including seniors on fixed incomes – (who) own homes while renting the land underneath.” One homeowner/site lessee, a Mr. Zany “who pays $550 a month for his lot (rental homesite) compared to an average rent in the area of $1,700 monthly for a one-bedroom apartment.” What’s interesting about this scenario is it closely follows the pattern of the traditional Rule of Thumb comparing rental rates of rental homesites in land lease communities and conventional (non-subsidized) apartments in the same local housing market. The Rule of Thumb? To estimate the appropriate rental homesite rate for a land lease community, identify the average rent charged for a rental apartment in the same local housing market. For example. In this instance, average apartment rent is $1,700/month. Divide this by three and the result is $566. very close to the $550 cited in the article. So, in this instance, the apartment and land lease community rental rates are in sync.
A caveat. In today’s ‘red-hot housing market’, among land lease communities, the traditional 1:3 Rule of Thumb has morphed – due to large rental homesite rate increases, to 1:2. In other words, in the previous example, given $1,700 apartment unit rent, expect land lease community rental homesite rates to be closer to $850/month, rather than $550 or $560. Now, that’s a market where apartment and land lease community monthly rents are ‘out of sync’!
This sad reality is playing out in states throughout the U.S. as ‘Rent-Control Measures (become) a Top Priority for Local Lawmakers’ (title of a feature article in the March/April 2022 issue of Real Estate Forum. (p.6) And the article goes on to say: “…estimates (are) that home-rental prices have increased an average of 18% across the US during the past two years, hitting record levels with some cities reporting rent hikes of 30%.”
And get this! “The national housing crunch is so severe, it’s impacting mobile-home (park) occupants. Colorado is debating a new law that would cap rent increases on space at mobile-home lots (rental homesites) where rents have surged by as much as 50%.”
Harkening back to Part I of this blog posting, the ‘exorbitant rental homesite rate’ scenario today, is one reason some/many land lease community owners/operators are clamoring for alternative representation on the national level – along the lines of the National Apartment Association (‘NAA’) and Multi-housing Council, where issues are researched and resolved. And just like MHARR is widely regarded – and respected, as the manufactured housing industry’s ‘Watchdog in Washington, DC’, the realty asset class needs like representation, – whether it be a renewed NCC division at MHI, or a new national advocacy entity altogether. Same with the finance sector of post-production firms. How long will the industry abide excuses as to why we can’t access more chattel capital (i.e. home-only loans), and why there’s still no secondary market for selling-off seasoned manufactured housing loans?
Frankly, we – as an industry and unique income-producing property type, could well be on the cusp of taking a major step towards renewed productivity and prosperity, if/when we demand more of our salaried and volunteer leaders on the national and state levels. The question is whether this is accomplished with present day organizations or new ones willing to fight for what is needed, e.g. more chattel capital, a secondary finance market, and less regulation (i.e. rent control and other forms of landlord/tenant legislation), for starters.
George Allen, CPM, MHM
EducateMHC
P.S. Watch for next week’s blog posting. Penning it already, and it’ll include a practical plan, by an industry executive, for getting our industry out of the 10% production doldrums.
April 15, 2022
PUT UP OR SHUT UP!
Blog Posting # 685. Copyright @ 15 April 2022. 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, realty asset class historian, trend spotter, education resource & textbook supplier for land lease communities throughout North America!
To input this blog and or connect with EducateMHC, telephone (317) 881-3815, email gfa7156@aol.com and or visit www.educatemhc.com Previous phone #s no longer connected.
Motto: ‘U Support US & WE Serve U!’ Goal: to promote HUD-Code manufactured housing and land lese communities as U.S. # 1 source of affordable, attainable housing! Be MHM certified!
INTRODUCTION. Every once in a while, usually after a time of editorial or political posturing, one wishes the trumpeting party would ‘Put up or shut up!’ We seem to be entering into one of those times now – maybe for good reason. Read Parts I & IV, to see where you are on the matter described. And Parts II & II feature, in the first instance, a timely $ reference that should be in every land lease community; and in the latter instance, some sad and surprising news.
I.
PUT UP OR SHUT UP!
You may or may not have recently received and read a lengthy diatribe (‘bitter & abusive denunciation’) of the Manufactured Housing Institute (‘MHI’) by the publisher of an online newsletter. I don’t usually respond to these periodic communiques, but felt compelled to do so this time around. Here’s why and what I penned….
During my 44 year career in manufactured housing, and as a land lease community owner,
“I’ve vacillated from being an enthusiastic supporter of the way the institute does things – or doesn’t do what I think they should. So I understand the frustration that’s ‘out there’ today, especially with our industry shipping only 105,772 new HUD-Code homes during year 2021. And this in the midst of our nation’s affordable housing crisis. We should be shipping many more new homes nationwide.”
“A perennial ‘whipping boy’ has been criticism that MHI does not truly and fully advocate for the entire manufactured housing industry, particularly its’ post-production segments (e.g. communities, finance, state associations, service firms, suppliers, etc.) And, in a sense, that’s understandable – if true, since the majority of the institute’s operating funds come from the manufacturers division of MHI. And today, the majority of those funds presumably come from just three companies, i.e. The Big Three Cs: Clayton, Cavco, & Skyline/Champion. How’s the bromide go? ‘Follow the money!”
“So, what to do about this uncertain advocacy matter? In my opinion, if this online publisher, MHARR, and others of like mind, really and truly believe lack of representation is pervasive and self-defeating, then plan and convene a national gathering for everyone interested in improving advocacy for the post-production segments of the manufactured housing industry! Seriously. And here’s a practical suggestion. Convene a national meeting on the 16th of August 2022, at or near the RV/MH Hall of Fame in Elkhart, IN. After all, the day before, on the 15th, we’ll see ten RV & MH pioneers/notable executives inducted into the prestigious Hall of Fame at that location. Simply stay overnight and convene the next morning. I’ll be the first person to sign-up. And I can think of several others that will as well.”
“There’s precedent for this bold suggestion. On 31 August 1993, 19 portfolio owners/operators of (then) manufactured home communities met at a hotel in Indianapolis, IN., to strategically plan how to ensure effective representation for the realty asset class in the years ahead. (This meeting occurred one year before the first ‘community REIT’ was launched). And up until that time, representation of 50,000+/- communities nationwide, was handled by a committee of volunteers at MHI meetings. Eventual result? On 1 January 1996, under the leadership of MHI executive Jim Ayotte, CAE, the National Communities Council (later designated as NCC division of MHI) began its’ work. Has it lived up to expectations? Originally yes, but that’s a worthy subject for a future critique.”
“Bottom line, for online publisher and MHARR? If you and others truly believe the post-production segments of the manufactured housing industry need better representation and advocacy, than is presently the case, plan soon how to resolve the matter and get started this year! In a word: ‘Put Up or shut up!”
I sent this email communique out early Saturday afternoon. Literally, within minutes, I started receiving replies. Here’s the first one, from a HUD-Code housing manufacturer.
“Thank You for stating that. I am obsessed and committed to help this industry break out of the 9-10% of new single-family housing starts. That is where we are now and have always been – except when easy financing existed, and that turned around (to) set the industry back. As you indicated, we need specific suggestions as to what can help us break out of the 10% restraint, and action plans to achieve more! That is what we are working on at MHI.” (Lightly edited, GFA)
II.
MANUFACTURED HOME COMMUNITY FINANCING HANDBOOK
Do you have this valuable resource in hand? If not, then email eerik.edwards@wellsfargo.com and request a free copy. If you’re a land lease community owner/operator, you want to have this comprehensive document in your personal or corporate library. This is the 16th edition and besides the usual background and HOW TO information, it also includes a copy of the last published edition of the ALLEN REPORT (i.e. annual compendium of community operating statistics, market trends, and list of top 100 or so of the 500 known portfolio owners/operators in North America today.
III.
DID YOU KNOW?
WMA executive director Sheila Dey has retired after nearly three decades of service to land lease community owners/operators in the state of California? Doug Johnson, WMA’s senior regional representative has been tapped to serve as WMA’s new executive director. He’s been with WMA for 28 years. Source of this and following information: March/April 2022 edition of MHInsider magazine.
What a shock – to me anyway. Wally Moreland, long long time business partner with the likes of Gary McDaniel, Jim Grange, and others at ROC Properties, nee Chateau Communities, a REIT; and YES! Communities, died during January 2022. I’m sure there are many of you ‘out there’ who remember the comical skits his company put on during the MHCongress in its’ early years.
IV.
THE FOLLY OF POST-PRODUCTION ADVOCACY!
What? It was only in Part I of this blog posting that someone credible suggested the timely need for separate representation of the post-production segments of the manufactured housing industry! And here, already, the efficacy of that idea is being contested? Well, it’s true. Among the many responses to the communique described in Part I above, were some pretty heady, sobering observations about the present state of national and state advocacy, and why a ‘new player’ on the scene might well have little to no positive effect on manufactured housing matters. I’ll present and explore those reasonings in next week’s blog posting (# 686).
Until then, if you’d like to add your opinion on this heady topic to the mix, just let me know via gfa7156@aol.com
George Allen, CPM, MHM
EducateMHC
April 7, 2022
MHShipment Total@ February & Stock Market Report @ 4 April
Blog Posting # 684. Copyright @ 8 April 2022. 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, realty asset class historian, trend spotter, education resource & textbook supplier for land lease communities throughout North America!
To input this blog and or connect with EducateMHC, telephone (317) 881-3815, email gfa7156@aol.com and or visit www.educatemhc.com Previous phone #s no longer connected.
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! Be MHM certified!
INTRODUCTION: Other than by direct email from me to you, Part I, here following is our industry’s and asset class’ sole access to ‘MHShipment Totals & Stock Market Report’. And if you don’t know MHAction is nipping at your heels, if a community owner/operators, read about it in Part II. Part III? Review of another exciting novel by Charles Irion, former community owner. Most important of all, plan to participate in the 50th Anniversary Celebration of the RV/MH Heritage Foundation’s Hall of Fame at the annual induction banquet on 15 August 2020.
I.
MHShipment Total@ February & Stock Market Report @ 4 April
According to the Institute for building Technology & Safety (‘IBTS’), HUD’s ‘scorekeeper’ for HUD-Code manufactured housing production, 9,281 new homes were shipped during February 2022. This, the sole Official Total recorded and publicized by IBTS, HUD, MHARR & EducateMHC.
9,281 exceeds February 2021 total of 7,995 homes, and 9,110 homes reported last month, during January 2022. And 2022 YTD, we’re already 1,200 new homes ahead of 2021 YTD!
The production value of these 9,281 new homes, using Dr. Stephen C. Cooke’s $43,126/MH factor is estimated to be $400 million; and 2022 production value YTD is $793 million. As I’ve said before, it’s past time for an update of Dr. Cooke’s valuation factor. Anyone listening?
Stock price-wise; of ten publicly-traded manufactured housing and land lease community companies, during early April, five were UP and five were DOWN from previous month. The MH/LLCommunity Composite Stock Index (‘CSI’) for this period of time rose from $713 to $732. For a FREE stock market summary of these ten firms, request it via gfa7156@aol.com
II.
MHAction calls for Legislative Day of Action on 10 May 2022
This is a state (e.g. New York, et. al.) and national initiative aimed at ‘predatory investors’ acquiring and operating land lease communities. Specific provisions ban rent-gouging companies, provide better (property management) oversight (i.e. licensing), improve leases, and stop unfair seizure of homes. If you’re not following these developments you should be!
III.
MURDERED BY GODS – TIMBUKTU
Yet another murder mystery, high adventure tale, from former Arizona real estate broker and land lease community owner/operator Charles Irion. I’ve reviewed many of Chuck’s novels and non-fiction books (e.g. ‘Roadkill Cookbook for Campers’) over the years, and sincerely believe ‘Murdered by Gods – Timbuktu’ is one of his best as a wordsmith, to date. By way of review…
‘Murdered by Gods – Timbuktu is an eclectic mix of writing genres; from mystery to adventure to survival to sci-fi, even demon possession. Set in the Sahara Desert, Irion’s perennial hero Scott Devlon – mountaineer and director of Project: RESCUE, is on a mission of mercy, to rescue a group of kidnapped scholars who aim to restore the cultural heritage of Timbuktu.
The author’s writing style also varies, from being akin to late mystery writer Dick Francis’ penchant for details (i.e. which is to say, you’ll learn all about salt mining, intirion crystals and more), Karl Marlantes’ flare for penning graphic life and death scenarios (as in his ‘Matterhorn’ historical novel of U.S. Marines fighting in RVN), as well as describing exhausting personal endurance, as in Slavomir Rawicz’s The Long Walk’. Taken all together, this is one of those books that once-in-hand is darn difficult to put down!
Besides the education a reader receives, and gripping descriptions of hero Devlon’s high adventures in life and near death scenarios, there’s a continuing plot line from Irion’s previous novels that smacks of other-worldly presence, even demon possession. I’ve read all his books, but still get goose bumps when he first touches, then dives into a nether (or ‘higher’) world beyond that upon which most of us live and work. GFA
IV.
2022 = 50th ANNIVERSARY OF RV/MH HALL OF FAME!
Who knew? The repository and protector of our industry and realty asset class history will celebrate its’ 50th anniversary on 15 August 2022, at the RV/MH Heritage Foundation facility in Elkhart, IN.
To that end, watch for the July/August issue of MHInsider magazine. Therein, the Allen Legacy column will – for the first time in print – tell how the RV/MH Hall of Fame, museum and library was birthed, then describe some picturesque Hall of Fame members. Some examples: One sold a new ‘mobile home’ to Elvis Presley; another, an immigrant from Denmark who made his fortune in this business’; yet another was on the War Production Board during WWII; another, the mayor of a major Midwest City; and one revolutionized RV advertising!
For now, however, why not commit yourself to attend the RV/MH Hall of Fame induction banquet on 15 August 2022? I know I plan to be present among the expected 700 guests. For tickets, phone (574) 293-2344. Who’s being inducted, from the manufactured housing industry? Eugene (Gene) Landy, founder and chairman of the board of REIT, UMH Properties, Inc. Tim Williams, founder and CEO of 21st Mortgage. Raylen Gritton, an independent (street) MHRetailer with 13 locations in five states. David Carter, Sr., a supplier of lumber and OEM supplies to the manufactured housing industry. Harry Karsten, longtime HUD-Code manufacturer on the west coast, also son-in-law of an inductee in the inaugural 1972 class. In addition to these five honorees, there’ll be five inductees from the recreational vehicle industry.
New U.S. presidents have their fancy inaugural balls, Hollywood actors and actresses have their Oscars. Well, manufactured housing and land lease communities, along with their recreational vehicle brethren, have their annual Hall of Fame induction banquet! It is the most gala affair MH & RV folk enjoy almost every year (skipped 2020 due to the pandemic). Frankly, ‘anyone who’s anyone’ in both industries, will be present at this event. It’s the one occasion where everyone goes to ‘see and be seen’, especially those who aspire to be nominated and selected for induction into the RV/MH Heritage Foundation’s prestigious Hall of Fame. Will you be there in 2022?
And this footnote to the 15 August festivities. As in years past, I’ve already been asked to teach, over a two to three hour period of time, that day, ‘How to Pen One’s Memoirs & Wordsmith an Autobiography’. If this interests you, let me know via gfa7156@aol.com As in years past this seminar will likely be held in the RV/MH Hall of Fame library or another room at the facility.
George Allen, CPM, MHM
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