The Manufactured Housing Forums

Chrissy, I own 2 parks in the midwest and I have to tell you things are tough. 3 years ago we could lease every lot we had immediately. We were selling new and used homes. Yes, times where good. Now we have vacant lots, New or ussed homes are not selling, there are no lenders left and all the repos we had in our park have moved out as large park owners are buying up consecos in bunches. Most the dealers in my area have gone out of business. the manufacturing plants in Indiana are closing and laying off, some plants are only working 2 days a week.
I know I can buy repos and move them in and sell them with me carrying the financing. But I cannot afford that at this time.

My question is this. Do you see a turn around in the near future? Or will the mobile home deprssion continue? I am a big fan of yours and would love to hear your opinions. Oh yeah, I am usually an optimist but this last few years has really got me down.

The big problem for those in your shoes is finance...Why would a quality credit consumer pay 11% interest to be able to rent from you or others like you....Not many will...

I do not see much return of home only finance for our average customer in the near future...It is tough for all of us..

With low interest rates these days, mobile homes, especially multi-sections are no longer " affordable " housing. I think that the biggest problem is that all the lenders are being too greedy charging 11%. No wonder they have so many defaults, a 11% loan costs about 2/3 more then a 5% loan.