Last year roughly one-third of the homes added to West Virginia's housing stock were mobile homes, and the national average price for a mobile home was only $67,800. Bloomberg staffer Patrick Clark uses all of these facts to ask why more mobile homes aren't being built to help with the affordable housing problem in America.
While there is a controversial past associated with mobile homes including poor products and bad loans, one cannot ignore potential benefits:
The flip side is that mobile homes are cheap at a time when the home ownership rate is at a record low and a dwindling inventory of starter homes is driving up prices for first-time buyers. While mobile homes often make the most sense in sparsely populated areas, there’s no reason they can’t be used to increase the stock of affordable housing in U.S. cities.