Who Says There is a Shortage in Housing Demand in the United States?
Who Says There is a Shortage in Housing Demand in the United States
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Stagecoach Mobile Home Park, in Pueblo, Colorado, has set a new Mobilehomeparkstore.com record for most call-in inquiries for homes for sale, with a staggering 150 calls in one week!"We've never seen anything like this level of demand" said Dave Reynolds, who heads the investor group that owns the park. "That's probably more calls than every apartment complex and single-family home developer - combined - received during that same period".What's fueling the demand? At Stagecoach, you can get a nice detached mobile home, with yard, for the affordable price of $495 to $595 per month on a rent-to-own program. That's about 50% to 100% less than the other forms of housing in the market. And it's a combination that more and more people are finding appealing."We're thrilled to have a park with such high demand" said Reynolds. "I never thought we'd set the record, but we'll keep doing what we need to do to satisfy this level of demand". Options include bringing in additional homes to sell, as well as encouraging others to bring in homes as investment property.Stagecoach Mobile Home Park is located at 1901 Constitution Road in Pueblo, Colorado - a market of around 105,000. "I guess this proves that you don't have to be in a city of 1 million in order to get phenomenal numbers of calls" said Reynolds. There are roughly 60,000,000 Americans - 20% of the U.S. population -- thatlive in households earning $10 per hour or less. With a household income of under $20,000 per year, they don't have many housing options that they can afford. Apartments in the U.S. averaged over $1,000 per month in 2010. Mobile homes in mobile home parks average around $500 per month, which is roughly half that of apartments. Based on the government's formula on housing expenditure, that says that you should not spend more than a third of your income on housing, that makes mobile homes the only, truly affordable option. And there are other factors that make mobile homes an attractive alternative to apartment living. One is that, unlike apartments, mobile homes are detached housing - they don't have neighbors that share your walls, ceiling and floors. This gives you greater privacy and stress. Second, mobile home parks include yards, which allow for kids and pets to have a healthy environment. Third is the neighborhood "feel" that mobile home parks provide versus apartments. In a mobile home park, everyone knows each other, and can see every car or person that enters the property. They can look out for each other, and form a collective bond. While apartments are transitory by nature, mobile home residents are more permanent. A final reason is that most mobile home park owners are much more reasonable on credit standards with applicants. In many apartment complexes, the management is rigid on certain credit scores. Mobile home park owners often look more at current employment than past mistakes. "All it takes is one trip to the emergency room -- and no health insurance - to bankrupt the average American. Or a simple loss of your job, or divorce, can lead you to car repossession. "We try to look at the current picture, not the past", said Reynolds. "There is no reason to punish someone for a credit mistake from the past - in fact, some of those customers have learned from their mistakes and are actually better risks than those who have not yet fallen on hard times. Often, the difference between someone paying their bills and abandoning their property, is their willingness to fight to keep their property, by getting a second job or some other means. Credit scores do not reflect that strength of character" To learn more about the mobile home park industry, visit www.Mobilehomeparkstore.com.
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