Dr. Benjamin Carson, Secretary of the Department of Housing and Urban Development (HUD), announced a proposed rule Thursday to revise the federal Manufactured Home Construction and Safety Standard to “expedite construction” of manufactured housing.
“The nation’s affordable housing crisis can’t be solved by one measure alone, but today we’re proposing changes that remove more of the red tape that stands between the production of safe, quality homes, and the nation’s families and individuals that need these homes to make homeownership a reality,” Carson said during HUD’s Driving Affordable Housing Across America Bus Tour in Russellville, Alabama. “This proposal is a strong example of how we believe we can both reduce regulation and improve safety and security for the nation’s homebuyers.”
The Department is recommending updates to modernize code provision and allow for more optimal use of manufactured housing in urban areas—including opportunity zones—additional requirements for the installation of carbon monoxide alarms or detectors, and additional provisions for homes designed for structures attached at the site.
An ATTOM Data Solutions report from 2019 found that about half the nation’s opportunity zones saw median home prices rise more than the national increase of 8.3% from the Q3 2018 to Q3 2019.
The report also shows that 79% of the zones had median home prices in the third quarter of 2019 that were less than the national median of $270,000—almost the same percentage as in the Q2 2019. Some 46% of the zones had median prices of less than $150,000, also roughly the same as in the prior quarter.
“The nationwide home-price surge in the third quarter spread through so-called Opportunity Zones, much as it did the rest of the country,” said Todd Teta, Chief Product Officer with ATTOM Data Solutions. “Despite sitting in some of the nation’s poorest areas, Opportunity Zones were hardly immune from a housing boom heading into its ninth year. That’s encouraging news for people living in those communities as well as investors looking to take advantage of the Opportunity Zones program.”
The Office of Manufactured Housing Program, part of HUD’s Office of Housing, oversees the construction law, standards, and regulation of manufactured housing in the federal Manufactured Home Construction and Safety Standards.
HUD states manufactured housing provides nearly 10% of all single-family housing stock—providing homeownership to more than 22 million Americans.
“I appreciate Secretary Carson touring the great work of Clayton, one of Alabama’s finest,” said Alabama Gov. Kay Ivey. “I applaud him and the Trump Administration for being laser-focused on removing burdensome regulations of big government and making homeownership an easier possibility for Alabama’s families.”