Word choice matters. It can also evoke strong feelings in people.
It’s why the multifamily industry has moved over time to call renters “residents” rather than “tenants.” It’s nicer. Less clinical.
It’s why the industry uses the term “senior housing.”
And it’s why if you ever call me “ma’am” you’re in for a tongue lashing, you whippersnapper.
Which is why I’m also glad that the real estate industry has pivoted from “trailer parks,” which doesn’t have the best connotation, to “manufactured housing communities.” They’re also communities that provide sorely needed affordable housing to residents. And luckily, investors are starting to realize their potential.
“Manufactured housing outperforms every other asset class, especially in troubled times,” Marcus & Millichap’s Michael Glass told editor Mark Faris for “Why Manufactured Housing Is a Capital Magnet.”
Not only that but these communities generally have low operating costs.
“National institutions are realizing the fundamentals in the sector create a stable environment, particularly in high-quality properties,” Jorge Figueiredo, of Capital Square 1031, told Faris.
Manufactured housing has even recently gotten attention on the federal level, with President Biden focusing on the sector as a means to help with the national affordable housing shortage.
“People are seeing manufactured housing for what it is—the most affordable type of living there is in this country,” Figueiredo said.
What a nice way to phrase it!
Are you looking to invest in manufactured housing? I’d love to hear your thoughts about this or any other sectors. Please email me at [email protected]