2 ms·
"your home that you own depreciates like a car [...]" is a crock I agree the organizational structure of it all can lead to some very bad outcomes, but it's no
by ip26 8y ago
"your home that you own depreciates like a car [...]" is a crock
I agree the organizational structure of it all can lead to some very bad outcomes, but it's not some grand design that a mobile home depreciates. It's a material good, it wears out. The only reason e.g. a SFH appreciates is because the land is appreciating faster than the structure is depreciating.
- DubiousPusher 8y agoThe value is also affected by perception. Older mobile homes were built with materials and processes that made them more difficult to update and maintain than site built homes. I believe this is largely not the case anymore but the idea that a mobile home has a shorter life span persists.
- yardie 8y agoOlder mobile homes turned to kindling during extreme weather. Newer ones are built much better because now there are building codes they have to meet. But reality is you pay for what you get. Newer mobile homes are treated like custom homes. Including being cemented to the floor, permanently. They cost more, mortgages are larger, so banks treat those homes as permanent. Going so far as making sure the undercarriage is completely dismantled and removed. If the owner defaults bank employees have shown up to take possession only to find an empty lot!