Blog Posting # 805; Copyright 9 August 2024. EducateMHC
Know this! HUD-Code manufactured housing (‘MH’) is federally-regulated, performance-based, affordable-attainable factory-built housing (a.k.a. offsite construction). And land lease communities (a.k.a. manufactured home communities & ‘mobile home parks’) comprise the commercial real estate (‘CRE’) component of MH! EducateMHC is the online advocate, official historian, trade term & trend tracker, as well as information resource for both business models, and to a lesser extent, the recreational vehicle (‘RV’) industry. Access EducateMHC via (317) 881-3815; email: gfa7156@aol.com, and via www.educatemhc.com to purchase Community Management in the Manufactured Housing Industry, and SWAN SONG – a history of land lease communities & official record of annual MH production totals since 1955. And my autobiography, From SmittyAlpha6 to MHMaven, describes personal combat adventures in Vietnam as a USMC lieutenant, a 45 year entrepreneur business career in MH & community ownership, as well as prolific nonfiction author and freelance consultant.
George Allen is the sole emeritus member of the Manufactured Housing Institute (‘MHI”), a founding board member of MHI’s National Communities Council (‘NCC’) division, an RV/MH Hall of Fame enshrine, and MHInsider magazine ‘Allen Legacy’ columnist and editor at large. He’s a Vietnam combat veteran and retired lieutenant colonel of U.S. Marines, and author/editor of 30 books & chapbooks on MH, communities, business management, prayer & figures of speech.
The ‘Whole U.S. Housing Story’ for June 2024!
It’s common knowledge the U.S. needs 2,000,000 new housing starts per year to adequately accommodate its’ citizenry. This month’s estimated total of U.S. housing starts of 123,851+/-
X 12 months = approximately 1,486,212 new homes during 2024, a shortfall of 513,788 units!
Components of the ‘Whole U.S. Housing Story’ include theses categories:
8,509 new HUD-Code manufactured homes produced during June 2024. Source: IBTS
+2,255 modular & panelized 9i.e. ‘prefab’) housing units estimated during June 2024
+337 new Park Model recreational vehicles (‘RVs’) produced during June 2024.
=11,101 subtotal of three above factory-built, offsite construction production totals
+112,750 US Census Bureau’ estimated # of single-family site-built housing starts during June
=123,851+/- estimated Grand Total of offsite & onsite US housing starts during June 2024
What you just read here is the first and only researched and published monthly estimate of the total, or ‘Whole US Housing Starts’ overview for the month of June 2024. If you’d like to know how each of the housing types was researched (e.g. using IBTS, RVIA, US Census Bureau, etc.), request a free copy of the ‘Whole U.S. Housing Story’ from gfa7156@aol.com
More About the 8,509 HUD-Code Homes!
The ‘MHShipment Volume & Stock Market Report’ has been researched and reported monthly since January 2015. Here are a few key stats from the June 2024 edition of the ‘MHShipment volume report & 6 August 2024 Stock Market report’.
June’s 8,509 units are fewer than the 9,408 new homes produced during May, but above the 8,169 homes produced a year ago during June 2023. So the MH production trend continues to fluctuate.
Furthermore; Year to Date (‘YTD’) production totals? As of June 2024, we’ve produced 51,165 new HUD-Code homes, compared to only 43, 388 a year ago during the same time period. Does that mean we’ll eclipse 102,330 units by the end of this year? Let’s hope so!
Economic Impact. Using Dr. Stephen C. Cooke’s decade-old estimated production value of new HUD-Code homes @ $43, 126/unit, suggests June’s new MHs = $366,000. And YTD, the 51,165 new MHs = $2.21 billion value! When will our national salaried and elected leaders see and understand the value of knowing and ballyhooing our entire industry’s (and realty asset class’) economic impact on our national economy? An interested party (e.g. legislators, etc.) await us!
Relative to the Stock Market report for 6 August 2024. Stock prices, among the ten public firms (i.e. ½ housing manufacturers & ½ = portfolio firms), were all up except for one land lease community owner/operator. And the Composite Stock Index (‘CSI’), including all but one of the ten public firms, increased from July 2024!
A TIMELY REMINDER!
Hope to see YOU at the RV/MH Hall of Fame induction banquet the evening of 19 August 2024, in Elkhart, IN. Then and there you will find the crème-de-la-crème, among pioneers and leaders of the manufactured housing & recreational vehicle industries, as well as land lease community owners/operators. I plan to attend. For info & to register visit the RVMHHall of Fame website or phone (574) 293-2344.
George Allen