PITTSBURGH — Homeownership for many has become increasingly out of reach.
âWhen you go to the bank and you try to get a mortgage on this, and theyâre pretty much like, you know youâre approved for this much, and itâs not even close,â said first-time homebuyer Julie Johnson.
A six-figure salary is needed to afford a new single-family home in most cities according to a new Oxford Economics report. Nearly double what was needed in 2019.
That, along with a housing shortage and higher interest rates has some people looking for alternatives they can afford.
Julia Johnson went to Facebook Marketplace.
âItâs 2,200 square feet, and for the price we paid a little over $50,000 for it,â she said.
More than 77,000 new manufactured homes were shipped this year through September, a 16% jump from that stretch in 2023, according to the U.S. Census.
Amazon is looking to cash in too, listing foldable and multistory homes for under $30K.
Local zoning ordinances and building codes may be a hurdle but for Johnson, planning ahead made her home the right choice.
âIt has honestly been such a blessing to us, because without a mobile home as an option. I really donât know where we would be,â Johnson said.
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