Simple fixes could unlock more affordable homes
The Rundown Manufactured Homes Could Ease the Housing Crunch By encouraging more manufactured homes—factory-built, modern, and often half the cost of traditional site-built houses—the U.S. could vastly increase the number of available and affordable housing options. The challenge: While these houses aren't the trailer homes of the past, they are still treated that way by the laws in most states. Most manufactured homes are classified as personal property, like a car—not as real estate, like a home. That means fewer protections and higher-cost loans. At a recent Pew event, experts called for common-sense fixes: 🏡 Let buyers title homes as real estate to unlock mortgage access. 💵 Modernize federal loan programs for "home-only" buyers—people who finance just the house, not the land. 🛡️ Add protections for the riskier mortgage alternative known as contract financing, an arrangement typically made between a buyer and a seller rather...