So would it be better to buy a modular during this "recession" or wait until our Pres Elect "changes" things?
by 
manwonder
ANSWERS: 1
-
A "modular" or a "manufactured" home? Big difference. Many "manufactured home" dealers sell double-wides as "modulars". Be advised, double-and triple wide mobile homes are depreciating assets that will keep you upside-down in your mortgage for most of the life of the loan. A true modular home, although generally less desirable than a site-built home, will appreciate over time. They just will not keep pace with site-built homes. If you insist on a pre-fabricated home of some sort, panelized construction does not carry the stigma of other manufactured homes -- and can seldom be distinguished from site built homes. It is possible, for example, to build a million dollar panelized home. Back to your question. Buying an existing home or new onstruction in an overbuilt market) offer the best buys. Avoid manufactured housing altogether. Prices in the stronger markets are at levels that compare with 4 to 5 years ago. Weaker markets are even cheaper. Credit most certainly is NOT going to improve for some time, borrow NOW or you will be left with "change" and little else.
RELATED QUESTIONS
Copyright 2023, Wired Ivy, LLC