Owning a home is a critical asset-building strategy and key to building wealth in the U.S. Unfortunately, homeownership is out of reach for too many Americans, especially people of color and those who live in rural areas. According to London-based Capital Economics Inc., "the homeownership rate will hit bottom at about 64 percent in 2014 as families leave the foreclosure pipeline and enter rental homes.” For Hispanics households, the homeownership rate now stands at 48 percent.
Manufactured housing can bridge the housing gap for many lower-income and rural families. For example, the findings of a recent CFPB report, “underscore the importance of the manufactured housing sector as a source of affordable housing for some consumers, including those outside of metropolitan areas, older households, and lower-income households.”
CFED and our partners have been working to transform the marketplace for manufactured housing into an environmentally sound, secure, appreciating and non-stigmatized asset for the nearly 7 million low- and moderate-income homeowners.
Please join us to learn more about the work underway nationally and in the Northwest to create innovations in manufactured housing and ensure that more Americans can be safe, financially secure and build wealth via their homes.
To learn more about CFED and innovations in the manufactured housing marketplace, please read Going Mobile in The New York Times.