Manufactured Homes Could Mean a New Trend in The Housing Market
Existing homes are more than double the price they were four years ago. The interest rates have followed a similar pattern. Yet, wages in America have not budged to allot for homeownership. Consumers must, once again, think outside the box.
In a Harvard Study released July 2023, manufactured homes mean you can now afford luxury without a crippling mortgage payment. “The high cost of homes relative to incomes has recently become an even more significant barrier in the wake of sharp price increases in markets across the country,” the study reports.
Stylish Manufactured Homes Break the Cost Barrier of Luxury Homeownership
CrossModulars marry affordability and curbside appeal to the average working American. Two-story models in their highest price range still cost 35% less and can be built in less time, which cuts back on expensive labor costs associated with site-built homes.
Modular homes are no longer limited to single-wide and double-wide styles. Styles today are indistinguishable from traditional single-family homes with garages, porches, and more. Build a custom Cape Cod, T-Ranch, Cape Chalet, and even two-story homes for nearly half the price.
The Harvard Study sites, “Given the potentially strong demand for homeownership and the limited supply of new conventionally built homes that are affordable for low- and moderate-income households, manufactured housing has the potential to expand opportunities for affordable homeownership.”