Why don't more people live in manufactured homes (mobile homes)?
Maybe in other parts of the country, people do. Some of the research I've done seems to indicate that there are places where many people live in them. However, around here, they seem to have a negative stigma. And, I'll admit, the ones I've driven past aren't kept up too well. However, there are pockets of manufactured houses that are quite nice; much nicer than the house I currently live in. Manufactured homes are often a fraction of the price of a conventional house and can offer many of the same things a house can.
They don't hold their value, they are poorly constructed, you don't own the lot. These seem to be the top reasons for not owning a manufactured home (other than the negative stigma issue). If a family were intending to buy something to live in for the long haul, I would think they could find a quality made one. Also, since the mortgage would be paid off much sooner, the overall cost of owning one would be much less than that of a house (little or no property tax as well).
So, am I missing something here?
Derek
