AFFORDABLE HOUSING CRISIS Just Got Worse...Manufactured Homes All Thats Left

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The median priced home in America is now far behind reach for most households considering that you would need to earn $115k/year just to be able to afford a median priced home at today's interest rates and the the average household actually earns about $75/year. That is a massive gap and is leading to an affordable housing crisis like we have never seen before. The only thing left affordable in this housing market for the average household, manufactured homes.
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Опубликовано:

9 ноя 2023

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Комментарии : 639

@MichaelBordenaro 8 месяцев назад

This Housing Market IS FAKE! MORE FREE MONEY IS HERE ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-PcSV5n34yOI.html

@grandmasmalibu 8 месяцев назад

Got a mortgage company in the same building as my office. They're doing deals with RE agents to finance everything (manufactured house and land). The trick is that they get the agent paid up front on the deal instead of having to wait until the home is built and delivered like they normally do.

@berlawberlaw1025 8 месяцев назад

You should not put that out in the universe.

@phuchyouh7171 8 месяцев назад

There is a fake pResident in the oval office. Let's get him out of there and have our rightful potus resume office.

@davidhunternyc1 8 месяцев назад

I've been watching Kerry Tarnow's RU-vid channel about prefab homes for years. Of all the prefab homes he featured, my favorite is the Lloyoll Skali. Even these homes, however, fully loaded verge on $400K all-in. Still, I hope you check out Lloyoll homes. My wish for you, however, is to build a home in the Northern California coastal hills, like the Apple architect's prefab home in Sonoma. I mean, seriously, Michael... I'm inviting myself on a vacation.

@gypsygirl9 8 месяцев назад

@@grandmasmalibu are you saying they get paid before clos🤨ing?

@shelleyirving2094 8 месяцев назад

My brother died in 2022 and left me most of his estate. I had about 150k, which in normal times, would have been plenty for buying a 3 bdr. house in cash. But, here in Washington state was not enough. I ended up buy a 3 bdr. 2 bath manufactured home in cash. My husband and I built spec homes in the 90s so we aren't newbies. We are nearly 70 and our double wide, so far as I can tell, was built like a normal stick built home. I want to keep our overhead way down and this is the way we are doing it .

@jaydeeare285 8 месяцев назад

Do you own the land ?

@jsanchez8855 8 месяцев назад

Manufactured homes in my area (hour north of Seattle) run about 450k for one built in the 70s, plus the land rent rate, which is about 750 per month, plus HOA. Still unaffordable.

@noreenn6976 8 месяцев назад

Wow, I thought central FL was high. Running around $225k for an old one in a nice area.

@pimpinaintdeadho 8 месяцев назад

😂😂😂😂😂😂😂😂 WTF!!!!!!!!!😂😂😂😂😂😂😂😂😂

@gypsygirl9 8 месяцев назад

Omg🤯🤯

@roncall6245 8 месяцев назад

Thats just not true... even in northern Washington, a manufactured home at that price will be on land you own. I'm sure a very specific exception exists.... but it's not the rule.

@jsanchez8855 8 месяцев назад

@@roncall6245 maybe things have chilled a bit in the last 3 months. My parents were up here in August and we looked at a few spots in Snohomish and Lake Stevens and that was the going rate. 400-450, 400-700 lot lease, $25/month HOA. They realized they can't sell their home in California to get a manufactured home here 😮‍💨. I hope it's been slowing down, but I felt so discouraged after that that I haven't bothered to look again.

@williethomas2628 8 месяцев назад

The politicians should be in jail for not having done something about housing in the United States. All they think about is lobbyists money.

@shannondavis5728 8 месяцев назад

Yelp!!!!

@nisbit3883 8 месяцев назад

Prices are going up because Woodrow Wilson brought in the central bank. Congress sends billions to Ukraine/Israel without and arguments, but fights of stupid stuff. They will never get rid of their paychecks from the banksters.

@prettyyoungthingpyt5015 8 месяцев назад

Exactly! They also need to curb the massive illegal immigration.

@nickc3856 8 месяцев назад

I look forward to owning nothing and eating ze bugs

@queenbey6678 8 месяцев назад

Lol

@Homeschool4Christ 8 месяцев назад

😂

@wheelofcheese100 8 месяцев назад

😂

@sandblast5636 8 месяцев назад

I can hardly wait Democrats will love the taste of insects.

@joannbeyer6168 8 месяцев назад

😂

@stuartwilkison8754 8 месяцев назад

I have a modular home...lived here 30 years....I worked construction for 25 years and most stick built houses aren't all that good.

@JasonAldeann-bt4xf 8 месяцев назад

Old manufactured homes don't appraise for anything so if you ever want to sell good luck

@stuartwilkison8754 8 месяцев назад

It's insured for 328000. Please tell that to my insurance company .

@jaydeeare285 8 месяцев назад

@@JasonAldeann-bt4xfIf he owns the lot and it's on a permanent foundation it appraises just like a stick built. Please stop spreading misinformation you don't know what you're talking about.

@JasonAldeann-bt4xf 8 месяцев назад

@@jaydeeare285 I've got one on property right behind me that's a 2022 model on foundation super nice. 3 different appraisers have given 3 different values so far. And say what you want they do use much cheaper materials and alot less care when slapping them together. I currently live in a 2020 modular on 20 acres that's already having issues, leaks, counter tops peeling, drawers falling off, wall plugs not working, super cheap materials. We are building our stick home with 2 adu this year and can't wait.. real wood countertops, real wood cabinets, better a/c system, better insulation, better roofing, better Long term value rentention.

@jaydeeare285 8 месяцев назад

@@JasonAldeann-bt4xf Those problems can happen with stick built houses as well. Sounds like you just have a very cheap one.

@queenbey6678 8 месяцев назад

Important note, manufactured homes and modular homes are not the same thing. That's an important distinction.

@SeanGunz 8 месяцев назад

Modulars are very nice, have basements. Really well built and insulated

@stoneyswolf 8 месяцев назад

Exactly. A manufactured home will have a VIN number

@gypsygirl9 8 месяцев назад

@@stoneyswolfand a yearly vehicle registration to renew. Lenders will not fund them either because there is no deed.

@roncall6245 8 месяцев назад

Modular and site built are the same end product built in a different way. Manufactured homes sit on a steel frame, are built to a different code, and are meant to be movable. Banks see them as very different things.

@jenniferestwin5814 8 месяцев назад

Thanks you Michael 😊

@GScully42 8 месяцев назад

Moving to another country is looking better all the time.

@amrice62 8 месяцев назад

It is such a disgusting situation- It’s become impossible for folks to stay in their home towns , if they would like to It shouldn’t have come to this. Taxes are part of the problem for younger home buyers…

@thedadyouneverhadchannel3544 8 месяцев назад

Mission accomplished.

@jodyhunt4001 8 месяцев назад

blame the yankees and the ones from cali....i do.

@freedomfields5569 8 месяцев назад

Taxes and insurance are not a huge problem for folks who owned outright before all this went down. Our problem is this house was supposed to be temporary.

@pre1980cars 8 месяцев назад

The idea is to price you out of everything

@amrice62 8 месяцев назад

@@freedomfields5569 I agree with the above , once you’re in. But for first timers scraping together their down payment and money for furniture it’s a lot on that monthly payment

@kmckee365 8 месяцев назад

The land usually needs leveled, plumbed and electric ran to it unless you choose to live off grid or live in a park with a lot fee. So there are generally additional expenses other than the manufactured home and the land. Some of the lot rents are wild too. Anywhere from $500-$1k here in AZ to rent a postage stamp of land.

@bernardallen55 8 месяцев назад

I'm hoping there will be a housing crisis so I can buy cheaply when I sell a few houses in 2024. As a backup plan, I've been thinking about purchasing stocks. What advice do you have for choosing the best buying time? On the one hand, I continue to read and see trading earnings of over $500k each week. On the other side, I keep hearing that the market is out of control and experiencing a dead cat bounce. Why does this happen?

@andrewlogan7737 8 месяцев назад

Investing in real estate and stocks might be a wise choice, particularly if you have a sound trading plan that can get you through profitable days.

@danieljackson87 8 месяцев назад

You're not doing anything wrong; you simply lack the expertise necessary to make money in a bad market. In these difficult circumstances, only really skilled experts who were forced to witness the 2008 financial crisis could expect to generate a large wage.

@danieljackson87 8 месяцев назад

They are true professionals at the top of their game; I had the pleasure of dealing with one, and it turned out to be really helpful as they assisted me in restructuring my complete portfolio. Julie Anne Hoover, a well-known professional in her field who you may be familiar with, is none other than my advisor.

@mikeharry96 8 месяцев назад

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@shojus 8 месяцев назад

I'd rather live in a trailer on some acreage than buy another home in the city! Hopefully the economy balances out in the next 4 years so I can escape the city.

@idnotapplicable 8 месяцев назад

Spent about the first ten years of my life in a manufactured home. Actually attempted to buy one three doors down from that very house. I offered 50k below the asking because I believed the sellers were being extremely greedy. They bought it about five years earlier for 65K and were selling it for 300k. Let's just say I laughed at their counter. Someone ended up paying for their asking price. Glad I didn't. That neighborhood is not worth that much and I should know lol.

@eddenoy321 8 месяцев назад

@@DonLicuala You don't understand what a manufactured home is. It looks like a house and it does appreciate depending on location. Not a trailer. Study up.

@critterscute3642 8 месяцев назад

If it’s put on a foundation it becomes real estate.

@idnotapplicable 8 месяцев назад

@@critterscute3642 yep, but this one wasn't even "real property," which is when they actually anchor it to footings, so it should have been less because of that.

@eddenoy321 8 месяцев назад

@@critterscute3642 Most manufactured homes are set on a frame of steel beams, below which the plumbing and electrical connections are usually located.

@mangodiet801 8 месяцев назад

(Beans, Tents, Condoms, Bullets) it's where I'm placing my money .. manufactured homes still too pricy in this economy .. even RVs, now it's more like: friend's couch > squatting > homeless shelter > tent city / we're better off traveling living abroad

@Xaforn 8 месяцев назад

Yup a friend moved overseas and has been loving it. Another friend is planning to do the same

@TheyRiseBand 8 месяцев назад

The new American Dream is leaving the country.

@MrNiceGuy500 8 месяцев назад

Honestly tho once you get all the utilities set up, the house set up, the land, driveway etc you are looking at 600k. That is if you buy land to put it on which is way better than renting a spot at a mobile home park

@jaydeeare285 8 месяцев назад

You're not wrong. A decent lot with utilities, foundation and site set up , tie-downs and a nice skirting can rival stick built pricing in some areas. And don't forget about you still have to build your two car garage and work shop.

@jibberjabber-fm6pb 8 месяцев назад

Manu home community called jamaica bay in ft myers charges $1200 a month in land rent and other fees

@MichaelBordenaro 8 месяцев назад

Forget about moving to any of these places that charge a lot rent. It’s a rip off and a bad deal for you. You need to buy a piece of land if you’re going to do this.

@jibberjabber-fm6pb 8 месяцев назад

@@MichaelBordenaro another issue is how resistant these homes are in hurricane condition.

@fraudsarentfriends4717 8 месяцев назад

They need to change outdated zoning laws with manufactured homes. Zoning laws created the trailer park.

@GenXamerica 8 месяцев назад

Indeed. There could be great alternatives to trailer parks if small lots with utility hook ups were made more readily available.

@christopherjelen7661 8 месяцев назад

It's because these people in their neighborhoods don't care they don't want you building a house in their area that's cheaper because they don't want their property value to be decreased so they don't care if you're homeless

@benton-benton 8 месяцев назад

It's the counties. They'll never change the rules. Dictatorship.

@christinestephenson1742 8 месяцев назад

If you buy land in Texas outside of city limits, you can build whatever you want for a house, no limitations or codes. That allows you to live in a shed you buy or build your own home in whatever way you want.

@benton-benton 8 месяцев назад

Congratulations to Texan's for passing the law to lower property tax!@@christinestephenson1742

@ajmartineau8221 8 месяцев назад

And if you're in Florida you must know what's going next year with insurance. People are going to be running out of there unless you're rich.

@pmscalisi 8 месяцев назад

That’s the whole point. The rich want their enclaves so they can be isolated from the peasants

@janetobrien6455 8 месяцев назад

So now the mobile home parks have raised lot rents to ridiculous amounts! 😢 $8-$900 monthly!! Whutt? 😮

@eddenoy321 8 месяцев назад

Manufactured homes are increasing in value , but nothing like the 'sticks n' bricks' trad homes. They do offer a much better quality of living than an apartment ( privacy, size, etc. ). The quality of the home isn't always great , but some owners make their own improvements. It has worked very well for me, but I am one who was never impressed by expensive 'trophy' homes anyway.

@fraudsarentfriends4717 8 месяцев назад

Homes don't increase in value at all. That's just Real Estate agent and politician propaganda. Rising home prices is nothing more than inflation. It's not the value of the home increasing, it's the value of the dollar decreasing. Real Estate is tied to the cost of everything in the marketplace, you can't get away from it and it causes the cost of everything to go up. For the past 50 years rising Real Estate prices have been exactly equal to inflation 1:1. When a Politician takes office and housing prices go up. He wants to tell that it's a good thing, what he did was a good thing.. When in reality, it's inflation and a symptom of mismanaging the economy. What he did was not a good thing.

@gypsygirl9 8 месяцев назад

Same here.

@CraftEccentricity 8 месяцев назад

I love my mobile home. 32yrs old, on 3 acres of fruit forest, vegetable garden, peace, and privacy. No neighbors, my own water well, an acre pond, and low property tax. I don't like keeping up with the Jones's, it doesn't show you've arrived, have a better quality of life, or make you a better person. Look at Jeffrey Epstein as an example. All those million dollar homes and credit cards competing with each other for the race to the bottom. No thanks!

@deenibeeniable 8 месяцев назад

You're completely wrong about commissions being negotiable, Michael. On paper maybe, but in practice, most agents (I've been through many interviews) treat the seller like their employee. They say what the commission is & if you don't want to pay it they'll turn down your business. The next person will say the same thing, & if you don't live in a big city you don't have a lot to choose from. Now, in today's market they might have trouble getting away with it, but in general it's been that way for eons & is why price fixing is REAL, not a conspiracy, not a lie. Sorry but it's happened to me more than once.

@noreenn6976 8 месяцев назад

I also tried to negotiate the commission, I got a big NO, this was 10 years ago.

@kharimarquette 8 месяцев назад

And say they're going by the "industry standard" rate of commission.

@patriciamay6396 8 месяцев назад

I’ve sold 7 homes in 30 years. Always negotiated down to 5% commissions. That’s about as low as they will go, but none ever walked away. I live in a suburb of Detroit with a plethora of realtors and always interview more than one before signing

@MichaelBordenaro 8 месяцев назад

In my experience, you can always find somebody to do it for less. The problem is people who are doing it for a lot less than the competition are usually not the greatest agents. Another reason why I think a lot of sellers will continue to pay these commissions.

@operationretribution1263 8 месяцев назад

I think once enough people actually find out about the seller / buyer commissions, realtors will be forced to accept how it is or go out of business.

@the_derpler 8 месяцев назад

I'm no longer in a rush to buy. Basically agree w/ you that the insane 40% gains every year or whatever are over. There is no longer a panic to buy. Just shoveling cash away and will buy in all cash eventually.

@rjtwigg1 8 месяцев назад

You've got the right idea.

@7fall 8 месяцев назад

Save a little in metals too in case your whole basket of eggs breaks due to “hyper devaluation”

@Litterbaux 8 месяцев назад

Make sure you're keeping all that cash in a high yeild savings account right now, typically over 5%. This won't last forever though.

@MichaelBordenaro 8 месяцев назад

I think that’s smart to sit out and wait for a while at this point. The massive gains are definitely over. Even in places where they saw the biggest gains are slowing down tremendously.

@rubyoro0 8 месяцев назад

“Shoveling”? Lmao. You wish.

@Studiovette 8 месяцев назад

Great timing. You are seeing more and more of these communities popping up as affordable housing due to the recent favorable laws passed. There's a major perk when you can classify the project as affordable housing.

@rebekahwarriorspirit8110 8 месяцев назад

In my state even home manufacturers are way overpriced! They want the same or MORE in some cases then homes. Insane!

@simonefeaster5131 8 месяцев назад

I know one other poster said that north of Seattle manufactured homes are overpriced…I was fortunate to find a small 960 sq foot manufactured home in Puyallup. It was in good shape for 100k in a rural area with deer etc surrounded by homes going from 300-900k. Great neighborhood and only 10 homes on my dead end street. Granted I do pay lot rent, but between that and my affordable mortgage, I am still paying more than 1500 less than I would renting. It’s not the ideal situation but it is still a blessing and I’m so grateful to have found it. Couldn’t even afford to rent otherwise. I think we all have to be creative and do what we can in these crazy times.

@JohnQPublic345 8 месяцев назад

Now, even mobile homes are over-priced. And the lot rent high. Lastly, cities arent passing permits for new mobile home parks

@hvaball150 8 месяцев назад

Seem to be relatively cheap to me!!

@mclark732 8 месяцев назад

Grew up in a trailer park, worked my ass off to make near six figures to only have trailers as my housing options as an adult. Awesome

@tammyicious 8 месяцев назад

I'm a widow and if I down-size I was thinking of renting a 1-bedroom versus buying a condo. I figure no taxes and no condo fees.

@noreenn6976 8 месяцев назад

Condos can be a risky investment, just my opinion.

@hvaball150 8 месяцев назад

Not a fan of either option. Buy a 2 bedroom "somewhere" or live in a RV trailer for a while until you find that place.

@Norm475 8 месяцев назад

You are going to pay taxes and condo fees, it will just be included in the rent.

@tjlarson6519 8 месяцев назад

You don't have those fees directly, but you're paying them.

@benton-benton 8 месяцев назад

And no repairs!

@lindajohnson. 8 месяцев назад

We have so many homes in the East Texas area for sale. Prices have really gone up. I thought they would go down, but they haven’t . Some new homes have been for sale for months.😊 We bought 18 years ago, thank goodness!😮

@RaptureReady-Nethinim 8 месяцев назад

I bought my double wide last August 2022 and it doubled in value in 1 year! We have people knocking on our doors in our very nice park! But keep in mind you still have to pass credit checks and prove income or retirement income. The trailer parks today are the best way to retire early and or not have to worry about a major layoff!

@DannyWalker247 8 месяцев назад

Well you have to park those things somewhere and that is the major problem.

@noreenn6976 8 месяцев назад

Agree 💯

@MichaelBordenaro 8 месяцев назад

Yeah, that’s why you should probably get the land first

@BologneseJones 8 месяцев назад

My double wide is literally 20 years old on a brick foundation. On my own land and I live in a hurricane zone and it withstood it . nothing wrong with a mobile home..just put it on a brick foundation on your own land

@jaydeeare285 8 месяцев назад

Mobile homes and manufactured homes are not the same thing.

@BologneseJones 8 месяцев назад

@@jaydeeare285 I know that.. I've seen single wides on brick foundation withstand hurricanes too.. mobile home on foundation are just about the same as those quick built houses I watch being built in developments in a month and sold for 300k

@stoneyswolf 8 месяцев назад

Do what you gotta do a manufactured home AKA a mobile home is a bad investment. If your buying a new one that on the lot you can't get a traditional mortgage you'll need dealer financing or pay cash. They are not built to the same standard as a traditional home and some areas won't allow you to place them in certain areas you'll need a trailer park. Bottom line if it has a VIN number walk away. Now a modular home is a completely different thing it's actually a home built to code or even better and qualifies for a traditional mortgage. A modular home is a traditional home built off site. Don't get fooled like i said if it has a VIN number it's not a modular home.

@daytondave3034 8 месяцев назад

We bought 2 manufactured homes on land (converted to real property) in 2012 and 2013 to use as rentals. Paid $55,000 for one and $72,000 for the other (including costs to make them rent ready.) Today, homes in the same neighborhood are selling for a little over $300,000. They both have been rented every month since we bought them and have pretty much paid for themselves. It has been a great investment for us and both came with a VIN number. I would not consider owning a manufactured home in a park without owning the land under it.

@jaydeeare285 8 месяцев назад

Manufactured homes are not "aka mobile homes" they are two completely different things. Modular homes are manufactured homes.

@annesearle5482 8 месяцев назад

Government or councils will make sure you can’t do this. No money for them

@iworkout6912 8 месяцев назад

The county I live in has no mobile or manufactured homes. But drive over into any of the surrounding county's and there are mobile home parks everywhere. Have no idea why the county I live in the are banned. Its been that way since I moved here in 1990, at least.

@ByDesign333 8 месяцев назад

Driving around in Raleigh/Durham NC metro yesterday, WOW! rows and rows of newly constructed townhouse condos and more under construction! Wondering what they cost to rent or own...cracker-box apts with tiny balconies...😮

@robertmanley2687 8 месяцев назад

Love it cracker boxes

@pmscalisi 8 месяцев назад

The new normal in cool trendy cities.

@rachele9566 8 месяцев назад

You shouldn't say negative things about people's homes. At least they're homes. A hell of lot better than living on the streets. It's not the size of the home or balcony. It's how much people enjoy those homes while they're living there. Many people don't want the hassle of cleaning or maintaining a mega mansion.

@missmartyjackson 8 месяцев назад

I own land already (with my humble home on it) and looked into adding a manufactured home. California ADU law says you can add two to your property. Lots of extra costs and permits, so waiting for prices to drop or leaving the state still makes more sense I think.

@sandblast5636 8 месяцев назад

LMAO at Liberals

@reluctantprophet 8 месяцев назад

I have a manufactured house with 6” stud outer walls, bullnose corners, and 1/2” drywall with tape and texture from the factory. It waaay better built then the tract homes right next to me they’re selling for $400K

@JasonAldeann-bt4xf 8 месяцев назад

They don't appraise near as well

@jaydeeare285 8 месяцев назад

@@JasonAldeann-bt4xfIf he owns the lot and the house is on a permanent foundation it is appraised as if stick built.

@karenmartinez3702 8 месяцев назад

In Miami most of the trailer parks run about $1000 a month best bet if you can by the land yourself would not recommend moving to mobile park rent keeps hiking up

@AmericanConstellation 8 месяцев назад

Trailer parks are tornado magnets.

@wheelofcheese100 8 месяцев назад

😂

@Alex-jx5bx 8 месяцев назад

🙈💯👌👍

@Bob-cd5pp 8 месяцев назад

I am a Pilot and flying along rivers you would be amassed at her number of people living like Indians along the rivers, some times there are no roads nearby they have to hike or off road .

@yadiravigilwing8398 8 месяцев назад

Warren Buffett owns the largest manufactured homes companies called Clayton homes, low end but low prices

@s99614 8 месяцев назад

I wonder how many of those new mobile homes were replacements after the last hurricane?

@Norm475 8 месяцев назад

Mortgage rates should never drop below 5%. It sounds good when you are buying a house, but all it does is drive up the price of the home. Also, many seniors rely on interest to live, so when the interest that they receive is 1/2 to 1% they put their money in the stock market which drives up prices of stock. Which is a good thing if you are in stocks. But, all it does is set up the next housing and stock market crash, and it gives the government an excuse to "DO SOMETHING" which creates more problems, Most of the boom and bust cycles that we experience are caused by government intervention.

@hvaball150 8 месяцев назад

The sheep are in full swing. No, high interest rates are not good for you. Zero would be fantastic. By the way... Houses have actually gone up less with lower rates. Houses went up 5x from 1970-1990 when 10% was seen. We are up 2x with below 5% for most of the last 20 years. Look at the MSPUS chart. Rates don't really drive prices. It just stems buyers to not buy.

@prettyyoungthingpyt5015 8 месяцев назад

@hvaball150 wrong on all counts.

@hvaball150 8 месяцев назад

@@prettyyoungthingpyt5015 yea. You know. Well, I gave you data. Is the data wrong. Nope. But you go on believing high interest rates are good for you ms 🐏.

@prettyyoungthingpyt5015 8 месяцев назад

@@hvaball150 😀😀😀

@jgg204 8 месяцев назад

Remember folks, the home itself is not what has appreciated so much in such little time. It's the land. It's all about the land. Your house could be a shed, but if it's on desirable land, it's worth "millions". The structure itself naturally depreciates over time, unless you spend money to maintain and/or improve it (ie why for primary residence owner occupants the IRS allows you to add improvements to the cost basis when you go to sell, which reduces your capital gains taxes from the sale....and for real estate investors, they get to take structure depreciation over 27.5 yrs).

@hvaball150 8 месяцев назад

Yeah, the argument a mobile home would depreciate is silly because your stick and brick structure depreciates (without maintenance). Some sales have the house value at zero, or less than zero as it must be removed.

@tomwiles 8 месяцев назад

Manufactured homes can be just as good as a site-built house as long as maintenance, appliance repair/replacement, etc. is kept up. Any structure will quickly deteriorate if ignored or abandoned.

@francismarion6400 8 месяцев назад

If you try and replace a 50 yo house right now, it will cost a lot so the old house has appreciated in value and appraisers are recognizing this. It has most to do with housing shortage and the lockdowns which caused materials to double over night and labor to double since the lockdowns.

@jgg204 8 месяцев назад

@@francismarion6400 when the replacement cost of a roof increases, it doesn't mean the existing roofing materials on an existing house have appreciated in value. structures depreciate, this isn't even a debatable fact.

@francismarion6400 8 месяцев назад

@jgg204 Not talking about shingles. I'm talking to run wire from the pole, pour concrete, trusses, drywall, cabinets, trim, Countertops, septic and drain field, electric, 2x4's, insulation, etc. If that house and its bones are still in good shape and if you had to rebuild that old house that's appraised at the old 150k number, it would cost you double to build that same house right now.

@alexmiles40 8 месяцев назад

All that snotty stuff re: mobile homes comes crashing down when you are looking at your family being homeless, on the streets. Maybe America needs to change it's point of view on issues. This will be the third housing/financial crisis since the 80's. Maybe America needs to learn from the past and make a better "plan" for the future. Trailers and those tiny house=add them as options?

@chrislastnam6822 8 месяцев назад

According to the WSJ and other sources, sale prices of luxury houses are up over 9% over this month last year and a large percentage of them are paid for in cash.

@stockey 8 месяцев назад

Tiny homes are great, but towns don't want them.

@JBoy340a 8 месяцев назад

I think you are better off renting until you can get a more traditional home. With manufactured housing, you still need a piece of land. Also, the value appreciation will be much less than in a conventional home.

@MichaelBordenaro 8 месяцев назад

All I’m saying is it’s better than living on the street or renting forever

@JBoy340a 8 месяцев назад

@@MichaelBordenaro agree with that but will rates will drop. It might take a year or two, but we will get under 5% again. At that point what will you be able to sell the manufactured home for?

@jaydeeare285 8 месяцев назад

Incorrect. If you own the land and the home is on a permanent foundation it appraises just like a stick built.

@bradapotamus 8 месяцев назад

I love seeing those monstera plants growing outside over there in miami

@evergreen8965 8 месяцев назад

I was noticing that, too. Very cool!

@joanncrimi 8 месяцев назад

Thank you for the daily update on these real estate issues!!! 🕵️📝🏡🏘️

@MichaelBordenaro 8 месяцев назад

You’re welcome!

@bomaniigloo 8 месяцев назад

I thought about doing this on a plot of land in the woods. On a foundation with a basement.

@seth101-hv4st 8 месяцев назад

That might be a good idea. My manufactured home a mile out of town (1785 sqf) on 2.5 acres on a foundation of course. 4.2% interest rate. Costs me just shy of $1100 per month and that includes insurance and taxes. I got into it a couple of years ago so you might not get that good of a deal now.

@bomaniigloo 8 месяцев назад

@seth101-hv4st very nice. I'm in the phx area so I'd have to go up north for any decent scenery but am definitely considering it. With solar and well water Ideally.

@T.RiceBuilds 8 месяцев назад

Unfortunately it’s going to be increasingly hard to find an insurance company willing to insure a manufactured / mobile home.

@jacquesreilly1850 8 месяцев назад

Insurance companies can go swim in urine 24 hours per day.

@jaydeeare285 8 месяцев назад

Its actually very easy to find insurance for manufactured homes. Mobile homes who knows , they are not the same.

@bigtom1948 8 месяцев назад

Mobile home USED to be a inexpensive way to go but not if you have to rent a tiny little lot to put it on $350 to the sky's the limit is the cost for a postage stamp of land to live on. Sheesh!

@stoneyswolf 8 месяцев назад

I remember when you could buy a mobile home for 10k with a $100 a month rent for the space. Those same trailers are 200-300k. The for sale sign says looking for suckers.

@jaydeeare285 8 месяцев назад

Mobile homes are not the same as manufactured homes.

@kbelanger52 8 месяцев назад

These manufactured homes are far nicer than you think

@mattanderson6672 8 месяцев назад

Thanks Mich!

@yojon1212 8 месяцев назад

Great story! In the early 1990's I was told by one of my real estate investors who split his time between Colorado and Pensacola that a young real estate agent was finding it hard to break into the market in Colorado because there were so many agents with more experience. He pointed out to her that mobile home sales was an untapped market. She focused on that market and worked to secure mobile home financing. After delving into this market, she became a top real estate producer in that area. Very similar to my experience in the real estate business. All the Old timers got the premium listings on the Gulf of Mexico side of the island. I focused on the back side of Pensacola Beach, which in my opinion has tons to offer, and flourished in that market.

@lisaremington3540 8 месяцев назад

I just inherited a mobile home in Navarre. Not sure if I should sell now or hold it

@charlesphilhower1452 8 месяцев назад

One of the big things with manufactured is finding a suitable lot in the area people want to live. People still have to get government approval and permits to put a manufactured home on a site.

@jaydeeare285 8 месяцев назад

Correction , Michael - A six month supply of inventory is considered a BALANCED market, not a "buyers' market". Which is why values in Miami are still rising.

@chefdave6596 8 месяцев назад

This is the route I'll most likely take. Thanks for covering this. I suggest you do a deep dive on the prefab, sustainable, ect housing market. Just a thought. All the best!

@MrWphilips 8 месяцев назад

Unfortunately, in Las Vegas, the main stream media is still trying to boost the housing market! So, thanks for people like you that provide the truth! I am keeping an eagle eye on this market! It is definitely unsustainable!

@redtiger7268 8 месяцев назад

Happened in 06/07 as well. The MSM kept trying to push the "if you don't buy now you never will be able to" lie. In Southern CA they kept the lie going until late 08 when the price decline was to big to hide.

@jaydeeare285 8 месяцев назад

"The truth" as given to you by a guy who bought a condo last year while making these same kinds of videos. 🙄

@deenibeeniable 8 месяцев назад

Modular can get conventional financing because it's site-built. Manufactured are mostly put together in the factory so financing is more expensive. A point or two.

@stoneyswolf 8 месяцев назад

Also a modular home doesn't have a VIN number.

@keithtauber4153 8 месяцев назад

Manufactured homes can get conventional financing too if it is put on a permanent foundation. No VIN numbers or stickers to buy because they remove the trailer.

@kim.in.nature. 8 месяцев назад

Michael! Manufactured homes had a 9 month to 1 year waiting list in 2021 / 22. The prices went way up from pre 2019. Remember when old 1976 trailers were $175K a year or so ago? Same thing.

@user-po9lg7et4h 8 месяцев назад

Same thing at the Jersey Shore people pay $800,000 or $900,000 in cash and than knock them down and build new amazing. Obviously Not everyone is hurting

@pmscalisi 8 месяцев назад

@@benton-bentonI read there are 18 million millionaires in the US. Not everyone is hurting, economic hardship has always been that way.

@pmscalisi 8 месяцев назад

We are approaching third world societal structure. Either wealthy or poor

@benton-benton 8 месяцев назад

There are millionaires everywhere. My neighbors are millionaires. Half of my siblings are millionaires. But they don't flaunt it. If I was a millionaire all I'd do is move back to Honolulu county and buy a small house in Wahiawa or Waianae and I'd just drive a used suv. I would eat all the expensive vegan food I wanted. I would have 2 cats. And go to the stadium swap meet every Sunday. IOW, a lot of people aren't looking for attention when they are millionaires. So the people paying 800,000 for a house, then tearing it down and building a new one might be on their way to becoming billionaires. Or they're politicians.@@pmscalisi

@azwife1715 8 месяцев назад

We own both. It really helps if your county requires footings to place them on. In our county in AZ. They don't, and the houses move which causes issues In some states they depreciate like a car. And you can't sell it if the "tag" Vin on it is missing. Do your homework before buying 😊

@rockman732 8 месяцев назад

I looked at a mobile home in San Clemente CA last month. It was empty, very old and smelly but a great view of the ocean. They were asking $700,000 lots of people looking on the open day. The real estate agent said he had multiple offers. I live in a mobile home in Orange County and it is very nice but $700,000 is ridiculous.

@pmscalisi 8 месяцев назад

@@rockman732CA in general is ridiculous 😂

@jaydeeare285 8 месяцев назад

Manufactured homes and mobile homes are not the same thing. Manufactured homes do not have Vin tags. 🙄

@timtebowfan628 8 месяцев назад

I bought a park model home in a 55 plus community for 79K 4 years ago and the home values have already doubled. We own our own lots and just pay a small HOA fee of 130 a month. The place has beautiful views, is clean and safe and for a senior, its a lifesaver.

@Resmith18SR 8 месяцев назад

$450,000 4 bedroom home to $100,000 manufactured home to $2,000 month apartment rent or $25,000 car to live in to $150.00 tent to live on the sidewalk next to Starbucks. 😂😂😂

@WhyteHorse2023 8 месяцев назад

I'm literally seeing people living in old school buses. They park at Lowes near Walmart. Probably use propane to heat/cook. If the bus is old enough you can get classic plates and only pay a one-time registration fee. Then you're just paying insurance(again cheap for a classic), maintenance/repairs. Seems like a better option than a car or tent.

@Resmith18SR 8 месяцев назад

@@WhyteHorse2023 In the richest and most powerful country in the World. This is how people have to survive. If it gets worse or for an even more prolonged period of time it's just a matter of time before the actual collapse. When it starts really affecting the wealthy and powerful in the U.S. then you might see a little change.

@WhyteHorse2023 8 месяцев назад

@@Resmith18SR I think we're 2 years out based on when the debt becomes unserviceable.

@dbrew2u 8 месяцев назад

A Quarter Million Dollars for a Home that's trucked to your Lot . Just one more Sign that the American Dream is on Life Support .

@JBoy340a 8 месяцев назад

Austin home sales and prices are also dropping. Much of that is due to the prices going up beyond reason during the pandemic. And when you add high interest rates on top of that, the market cannot support the high prices.

@alanheadrick7997 8 месяцев назад

I saw a house for sale today, a 2/1 near Pensacola for 159k. Looks pretty nice inside.

@Alex-jx5bx 8 месяцев назад

1000 sq ft

@Resmith18SR 8 месяцев назад

Pensacola: The Redneck Riviera 😂😂😂

@joanncrimi 8 месяцев назад

@@Alex-jx5bx😂

@alanheadrick7997 8 месяцев назад

@@Alex-jx5bx Probably.

@blissdad13 8 месяцев назад

I like pensacola. Spent my birthday there and had a great time.

@tizzx4945 8 месяцев назад

I just love starting the weekend with a video from Michael 😊

@MichaelBordenaro 8 месяцев назад

That’s so nice to hear!

@lorenl9262 8 месяцев назад

Great video Michael as I have never owned a home in the 50 years that I have been here on Earth :)- I have been looking at manufactured home for sometime now. Thank you for bringing this video to light!!! Kudos to you and your channel :)-

@WhyteHorse2023 8 месяцев назад

Here's an idea: You can get a condemned house in Detroit for $1k. Pay someone to scrape it and put in a manufactured home. Might be the best option these days.

@basha0810 8 месяцев назад

My son came by last night. A guy came in that he knows that just moved. He said contractors are leasing out new builds because they can't sell. He's got 5 roommates in a gorgeous 5 bdrm home. They pay $400 each.

@Resmith18SR 8 месяцев назад

Only in Florida and Miami , FOMO has a different meaning: Fear Of Melting Outside. 😂

@noreenn6976 8 месяцев назад

😂

@MichaelBordenaro 8 месяцев назад

Yeah really!

@glendabanta4832 8 месяцев назад

The biggest problem I see with manufactured homes is that there are so many areas that are restricted against them. For example, we own 20 acres of farm land in Texas---and guess what? It's restricted against manufactured homes!

@zeke5491 8 месяцев назад

Looking forward to getting aquatinted with my new neighbors- Ricky,Julius,and Bubbles 😅

@jodyhunt4001 8 месяцев назад

I wish you would discuss the housing market in nc. Cause so many moved here took jobs took homes drive like jerks made everything more expensive and destroyed the community we had. Now its like a mini NY. I want to get away and my family has been in this area since before the declaration of independence was signed. It's just not home anymore. The normal now is lots of traffic, crappy service, rude people, and a DR Horton development being built. "They" all came here and it didn't take long to go to crap. There is a stark contrast I assure you. I am fully aware of what their kind of behavior and mentality produces, and they can have it. I don't care for it and I am looking where ever they don't plan on going. I will consider Alaska at this point.

@pmscalisi 8 месяцев назад

Go to Nashville and see what they’ve done there.

@keithmahorney6533 8 месяцев назад

If considering a manufacturered home, make sure the subfloor is not particle board. Been there and done that.

@darthvader5300 8 месяцев назад

Manufactured homes can be MODIFIED to meet the needs of a customized home home buyer for it is just a matter of engineering ingenuity and tons of technological common sense. Here in Russia we have done it with the use of pre-fabricated steel rebar reinforcement and with high quality pre-mixed steel fiber reinforced concrete mixtures. Using precision steel molds that are indefinitely reusable, we can manufacture customized homes and buildings of all sizes and adjustable designs. We even have built a hyperbaric hospital building using manufactured prefabricated steel reinforced components on the CHEAP AT ULTRAHIGH QUALITY AND ULTRAHIGH SAFETY USER FRIENDLY DESIGNS for all ages and for all medical conditions.

@sandrahintz2617 8 месяцев назад

Remember if you buy a too old of a manufactured home you may not be able to get insurance for it.

@nmb5588 8 месяцев назад

Great points "just feels like the market won't change" and "real estate change is a slow moving process".

@madelineveggie3931 8 месяцев назад

You need to distinguish between mobile trailer homes, with wheels, that are very mobile and a MANUFACTURED home that is built in a factory in segments and assembled, put on a concrete slab with a "cellar" or lifted area with insulation, piping etc. Trailer park homes have wheels usually and the owners must pay land rents. A Manufactured home can be built on land that is NOT rented but owned by the buyer.

@pmscalisi 8 месяцев назад

Same facility makes both types of housing.

@jaydeeare285 8 месяцев назад

@@pmscalisiNor necessarily and even if they do they are not the same thing or built to the same standards.

@Curb-N-Sign 8 месяцев назад

Keep fighting the good fight. We appreciate your hustle

@phillipternullo4934 8 месяцев назад

Micheal you talk about all these prices going up in Miami FL and across the country . Like your HOA , home owners , flood insurance , etc . , interest rates , inflation in general . I bet you end up selling your condo within 3 months from now 11/10/2023 . Or at least listing it for sale after looking at the market across the country . And I can’t imagine condo’s are that popular . Good luck 🍀👍

@user-fy4lv6mf5n 8 месяцев назад

It’s not an “affordable housing crisis”. It’s an affordable city crisis. Plenty of great deals in good areas in may places outside of these vastly over priced over hyped cities like miami.

@hvaball150 8 месяцев назад

Agree. Hollywood dreams sold by the TV box. Look, you aint a star people!

@MichaelBordenaro 8 месяцев назад

What looks affordable coming from an expensive city is not so affordable for people who live in those so-called affordable cities

@user-fy4lv6mf5n 8 месяцев назад

@@MichaelBordenaro very true.

@user-fy4lv6mf5n 8 месяцев назад

@@MichaelBordenaro many cities aren’t just so-called affordable. They actually are affordable.

@parkershane1815 2 месяца назад

Thanks for the video. You can sell your home by owner. Not BUY OWNER. In this way you become the agent and save the 3%on one side. The agent representing the buyer does all of the paperwork for the closing and only asks you for any needed information or documents they may need which is easy to provide by attaching them to the e-docs link they provide. You don’t even need to be at the closing. Request a “ Stay Away” if the closing date conflicts with your schedule. Hope this helps 😊

@freedomfields5569 8 месяцев назад

In NC, Vanderbilt wont do it for less than $400k. Unless your looking at a single-wide you cant find prices inn the $200k's.

@alfredyost7972 8 месяцев назад

I agree Michael, the price of housing in California and Florida is just too much. Thoughts?

@peternorthrup6274 8 месяцев назад

WAIT FOR RATES TO GO BACK DOWN? It took 40 years for interest rates to get down the 2.5%. 40 years ago I paid 18%. I was there.

@christinamoneyhan5688 8 месяцев назад

There is nothing wrong with manufactured homes. They all have to meet building standards. You can have them custom built with most any type materials at increased cost which only makes sense. I know of a family that bought one in 1986 and still live on it with very minimal maintenance, just personal changes they do over 42 years.

@jaydeeare285 8 месяцев назад

Exactly

@debeeze1988 8 месяцев назад

I was looking at manufactured house, but the land leases are horrendous. And when you die, your kids can't sell without continuing paying park fees. Happened in my family. My aunt died. My cousin almost went broke trying to keep up with land lease dues. 55 plus restrictions and took a big loss and caused financial hardship. Plus in my own search, yeears ago, mortgages are different and higher. And a lot of mortgage brokers won't/ don't finance manufactured homes. A lot of kinks to work out. Yes, they're a good option, but can be a big loss and buyer un- friendly. The town i used to live in had $3,000 a month land lease. I'd love to mo e into mNufactured home park. I'm at the age wiith disabilitties and less yard work is very appealing. But watch out for the older ones.

@MichaelBordenaro 8 месяцев назад

You definitely need to have your own land if you’re going to manufactured home route

@jaydeeare285 8 месяцев назад

That's a mobile home not a manufactured home. Not the same thing.

@Riggsnic_co 7 месяцев назад

Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.

@Mohaimam316 7 месяцев назад

If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.

@maga_zineng7810 7 месяцев назад

Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.

@usieey 7 месяцев назад

I will be happy getting assistance and glad to get the help of one, but just how can one spot a reputable one?

@maga_zineng7810 7 месяцев назад

Natalie Lynn Fisk is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..

@usieey 7 месяцев назад

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.

@SirCarlosMusicBMI 8 месяцев назад

There are some amazing manufactured homes out there. I would love to put one on my one acre lot behind my house. Thank you Michael. Blessings, Carlos ✝️🙏❤️😊🇺🇸

@tonyd9489 8 месяцев назад

Hello Michael good video do you have any UDATE on what's going on with homeowners insurance in Florida

@shamrock7318 8 месяцев назад

The problem with mobile homes are they are harder to get financing on, the go down in value vs a house, and I wouldn't want to live in one during a hurricane or tornado 😂😂

@jaydeeare285 8 месяцев назад

Manufactured homes are not mobile homes. Different.

@georgetaylor2819 8 месяцев назад

People realize that paying "rent" will only leave them with a "receipt" for their occupancy. The renter can not do most things without getting the approval of the landlord. So, of course buying a prefab home and buying the piece of land will result in a lower monthly expense most times. Just make sure you are not paying "lot rent." Because the owner of the land can raise your monthly expense.

@ericscottstevens 8 месяцев назад

I had to endure a criminal check as a teacher working in schools. I offered my advice to the landlord stating if I was a criminal I would not be allowed to work around children. Landlord did not care and I paid $55 for the service.

@HODIUSDUDE 8 месяцев назад

I'm actively searching right now. But here is my problem. If something is affordable it needs lots of work. Ok, no problem I don't mind sweat equity. However, it's either getting snatched up for cash, flipped and sold way above my price range. Or it's tenant occupied and impossible to close on in the time frame required by my lender. Or the seller is still living in the home and he wants to stay until he finds something else. I heard somewhere that nearly 30% of affordable single family home sales are going to investors. This is a big part of the problem. Once they are flipped they are out of the affordable budget. I'm guessing it will be the small scale flippers that get burned by the market first.

@seth101-hv4st 8 месяцев назад

My quality built manufactured home a mile or so out of town (1785 sqf) on 2.5 acres on a foundation of course. 4.2% interest rate. Costs me just shy of $1100 per month and that includes insurance and taxes. I put in a detached garage and planted trees, lawn and landscaping. I got into it a couple of years ago so you might not get that good of a deal now.

@jaydeeare285 8 месяцев назад

Is the garage stick built ?

@seth101-hv4st 8 месяцев назад

@@jaydeeare285 yes

@jaydeeare285 8 месяцев назад

@@seth101-hv4st About how much extra did that run ?

@seth101-hv4st 8 месяцев назад

@@jaydeeare285 I think it was around $22000. That was a separate loan that I got from My 401k and not part of the regular house payment.

@jaydeeare285 8 месяцев назад

@@seth101-hv4st Not bad. Especially if it is a two car with a shop.

@ciimoon5661 8 месяцев назад

I have considered this myself. not a mobile home, but a prefab home. there are some super cute prefab homes! for like 50k. i like the idea of buying land and putting a small prefab home on it, something like 500 sq ft with a loft would be great.

@noreenn6976 8 месяцев назад

Same idea I had. Just check with town/city first.

@AnnAndNala 8 месяцев назад

I totally agree. But the land is soooo expensive if it already has power and water on it. And if it doesn't have it, it's crazy expensive to get all of that on.

@maxangeles6279 8 месяцев назад

hahhaa!! I don't think so. I don't think I would pay the buyer's agent's commission. I think it will change the status quo.

@jaydeeare285 8 месяцев назад

Then no one will come to see your house except maybe craigslist losers that will come back to rob you later. Lol

@ericscottstevens 8 месяцев назад

Manufactured homes in my area are $378,000. Placed gently on a cinderblock foundation. Not sure if there is a goldmine under a metal house for that price............ but maybe.