Why I'm Wary of Most Housing Stocks, Except This One
Manufactured housing is poised to become a huge part of the housing industry.
Overview
I've been writing about the ailing housing industry for a decade, and it just doesn't seem to improve.
The median price of a home hit a record $440,600 in June, and the average 30-year mortgage rate, at 6.7%, is more than double what it was five years ago. So many Americans can't afford a home, and many current homeowners, including my wife and me, don't want to move because doing so would double the 3% rate we enjoy on our current mortgage.
Details
And that's why home sales across the nation are struggling -- in a big way. The National Association of Realtors says existing home sales fell 1.7% in July, from the previous month, following a 2.4% decrease in June.
Source
Originally published at www.fool.com.