How Manufactured Housing Can Expand Homeownership

Manufactured housing could offer a possible solution to two closely linked challenges in the U.S. housing market: inadequate supply and lack of affordable options. Historically, manufactured homes have been treated differently in financial and legal terms from site-built housing, which has diminished their potential to meet the needs of prospective homebuyers and the 4.9 million Americans who already own manufactured homes. But in recent years, federal, state, and local actors have taken steps to bring this critical type of housing into the financial and regulatory mainstream.

On June 25, 2024, the Federal Reserve Bank of Philadelphia and The Pew Charitable Trusts convened a diverse group of experts for a conversation on solutions for manufactured housing. Presenters discussed efforts and opportunities to improve the availability of safe and affordable manufactured home financing, address aging housing stock and community infrastructure, and improve the wealth-building potential of manufactured home ownership.

The Federal Reserve Bank of Philadelphia and Pew invited state and local housing and community development practitioners, government representatives, lenders, funders, other decision-makers, and community members to join the conversation and learn about best practices and innovative programs for manufactured housing.

Agenda

Panel 1: Addressing Financial Barriers to Manufactured Homeownership
This panel of researchers, policymakers, and practitioners discussed challenges homebuyers face in obtaining financing for manufactured homes and ramifications of the lack of loan options. Experts working to implement solutions talked about new approaches at both federal and local levels to improve access to safe and affordable credit.

• Introduction and moderator: Rachel Siegel, senior officer, housing policy initiative, The Pew Charitable Trusts
• Panelists:
  • Todd Kopstein, CEO, Cascade Financial Services
  • Dina Levy, senior vice president of single family and community development, New York State Homes and Community Renewal
  • Steve Saltzman, president and CEO, New Hampshire Community Loan Fund
  • David Sanchez, senior policy advisor, Federal Housing Administration

Panel 2: Responding to Threats to the Continued Affordability and Livability of Manufactured Home Ownership
With an emphasis on state and local strategies, this panel explored opportunities to preserve the affordability of manufactured home ownership and improve the security and stability of existing manufactured home owners, on both leased and owned land.

• Introduction and moderator: Eileen Divringi, community development research manager, Federal Reserve Bank of Philadelphia
• Panelists:
  • Victoria (Tory) Clark-West, executive director, Northcountry Cooperative Foundation
  • Jim Gray, senior fellow, Lincoln Institute of Land Policy
  • Katharine Millard, director of development and advocacy, Sussex County Habitat for Humanity

Lunch Keynote
Chris Herbert, managing director, Joint Center for Housing Studies of Harvard University

Panel 3: Perspectives from Manufactured Homeowners
In this final panel, owners of manufactured homes shared their perspectives on emerging challenges and reflected on opportunities to improve financial and residential stability for manufactured home owners.

• Introduction and moderator: Jeanee Wright, cooperative project coordinator, ROC USA
• Panelists:
  • Bob Besecker, co-chair, Rent Issues Committee, Douglass Village
  • Charles Masteller, board president, Evergreen Village Cooperative
  • Maureen Shindle, past board president, Evergreen Village Cooperative
  • Joseph Sullivan, executive director, Manufactured Home Owners Association of New Jersey