Welcome back to The Mobile Home Expert Podcast! Glenn and Jay are back to discuss the latest and greatest in the MHP space. Today’s subject: the term trailer park. The pair discuss the terms origins, and as well as how it has evolved to its current iteration.
Also, the team takes a look at For Sale By Owner properties. Skip further into the stream to hear more. As always, the Mobile Home Park Expert is here a resource for you. Any questions or concerns about joining the industry? Feel free to contact us today. We can point you toward success.
Once upon a time, trailer park was a pretty common term. Jay and Glenn discuss earlier experiences when the phrase was more accepted. “It used to not be a bad word,” recalls Glenn. But a string of programming that reinforced negative stereotypes would be its undoing.
“I think it did a lot of visual damage to our industry.” That’s not to say the depiction was without merit. There were instances of these blemishes happening. But the degree of damage it did to the industry’s image was fairly longstanding. So much so, that its nomenclature would be rebranded. It’s now the manufactured home community we know today. Land lease is also growing in popularity.
The impact has been tangible, especially on the economic side of things. The number of new parks has dipped a great deal in the past decade. Many manufacturers suffered big losses in the wake of this. Some were even unable to keep their doors open.
Luckily, things have picked up in the past few years. “New manufacturers are coming back online.” Given that many homes are now the opposite of that stereotype, a rebrand is in order. Have your expectations set though. Things can take anywhere from 3 to 12 months to get going.
Glenn predicts that things will only continue to grow for the industry over the next ten years. As long as you live in an area agreeable to your park, you’ll be fine. Steer clear of areas heavily affected by natural disasters. While it is a bigger concern for older homes, it can still pose an issue regardless of construction date.
Another thing discussed is the recent projected up tick in the housing market. Glenn admits that this doesn’t inspire much hope when it comes to mobile home communities. That’s not to say all hope is lost. “I have big beliefs on the sales of manufactured homes. We’re going to see some big growth in that industry”. Regardless, it will take a keen eye and patience to navigate this successfully.
Glenn also notes how unlikely it is that there will be any less opportunity for development. He predicts the need for manufactured homes will remain consistent in the future. Looking for more in depth information on the industry? Check out our extensive blog catalog here!