Manufactured Housing Provides Affordable Housing SolutionBy jh_admin In Real Estate
Although housing prices are starting to cool, interest rates are climbing, and California continues to be in the grip of a housing crisis – with affordability being out of reach for many residents across generations. Under Governor Newsom, the state is pursuing its boldest housing and homelessness budget in state history, with an unprecedented investment of $22 billion to tackle these housing issues.
The funding will lead to the creation of over 84,000 new affordable homes for Californians, including over 44,000 new housing units for low-income buyers. As ordinances on zoning for manufactured housing and ADUs (Accessory Dwelling Units) ease throughout California, this will allow housing to be created at a faster and more affordable pace than in years past.
In addition, the U.S. Department of Housing and Urban Development (HUD) partnered with the Manufactured Housing Institute (MHI) to host the Innovative Housing Showcase on the National Mall in Washington, DC. earlier this summer. HUD Secretary Marcia Fudge officially kicked off the week-long event noting that manufactured homes could be “the future of housing.”
“Manufactured housing, including ADUs, has always been a great solution for affordable, flexible, and low-maintenance housing,” said Shane Joffe, partner, and general manager of HomeQuest. “Because manufactured housing is a more attainable price point than site-built homes, we know this is a great alternative to ease the housing crunch.”
Joffe adds that manufactured housing is often constructed better and in a more environmentally friendly manner than site-built homes, and at a fraction of the cost.
Home buyers struggling to find affordable housing may discover that manufactured homes are the ideal answer, with over 5,200 communities throughout California alone. ADUs can also be placed on private property for in-laws or young adults who can’t afford today’s exorbitant rents.
Today’s manufactured homes are well designed and high-quality, featuring high-end finishes and amenities such as wood-look flooring, stone countertops, farmhouse sinks, windows with the decorative casing, ample closet space, skylights, porches, on-trend bat and board siding, and more. Constructed to be energy efficient, manufactured homes also use less energy for heating and cooling than a traditional site-built home.
To explore the latest manufactured housing options in your area, contact HomeQuest today.