The lingering underinvestment in residential housing continues to put upward pressure on housing costs. Manufactured Housing fundamentals reflect a significant shortage of affordable housing.
Manufactured Housing REITs have outperformed the broader REIT index for six straight years, and are on pace to push it to seven. Same-Store NOI growth topped 7% in 2018.
Rising construction costs, not speculation, have been responsible for much of the post-recession rise in home values and rents. Manufactured housing remains cheap largely because of lower construction costs.