This is different this year. It's it's got the really
nice front porch that's put out.
It is Portico. Yeah. This is again what we call
everything we do.
We're trying to innovate to be the best attainable housing
company out there.
So Warren always talks about how affordable our payments are
and that's why we do a mortgage with someone.
They're going to stay in it.
So we were now payments have really gone up
$650 a month pre pandemic.
We're now at 9:50. How much is that is higher
rates,
how much of those of that is it's more expensive
to build them
it building costs, I would say in that 30%
range. So that total is in the
45.
So that drove us to certify all of our facilities
across the country to build 0 energy ready.
We talked about that briefly last year.
So now every 50,000 manufacturing homes we'll build this year
will be 0 energy ready.
That means we're cutting their utility costs up to and
half.
So we're the only with the by far the largest
organization doing that and that's the Department of Energy's highest
standard
that's offered out there both both my wife and
my daughter and actually made myself but but it's just
too much
be too many problems with the the neighbors and a
few things
they don't like to be teared on my house
that I have now and actually
and you know be on one floor
and you
know I I I wouldn't have
they don't like me going up and downstairs and
and I would be very very very happy absolutely.
Well the affordable housing crisis in the country this is
a big part of that solution.
So this house
18160 square feet at only
$236,000, a $127.00 a foot and the utility costs are
only
$155 a month on average.
So the zero energy ready saving them about $90.00 a
month.
Though it's the zoning people and everybody are waking up
that this is an important part of that solution.
Yeah, yeah,
there's
there's opposition though every place obviously because
they don't like the fact that you should know build
these houses.
Yeah, it is really it's it's fascinating.
Yeah. And with so now we call we call this
luxury attainable.
So this, this home has every high end feature you
can imagine a traditional site built home tiles,
backsplash showers, quartz countertops. So I can't wait to
show it to you and you'll be amazed that you
can get that.
You know in Omaha the average site built homes
443,000. This, including land set up on your land would
be less than
300,000. Oh wow, I've got the
300,000 I just haven't got.
I'm ready to buy but
and and and I shouldn't ready to buy but
I'm not sure that the neighbours would be great if
I would turn up my president.
But
just the transformation in the industry in the
21 years it's been, it's been a sound.
Yeah. And that's why we deserve the term now modern
manufactured home because it doesn't resemble,
you know, 20 or 30 years ago.
And this house is built like a tank.
It can, it can handle anything thrown at it.
And right through 2008 and 9,
everybody else folded. Essentially. We kept financing people
when you bought us. Our market cap was greater than
the whole industry combined
at that time and we're certainly glad that you did.
It's. I'm glad that I did it
every now and then I stumble with them.
I've
been great for affordable housing in the country.
We're proud of it. I think we're 90 manufactured housing
is now 90 plus percent of all new single family
housing at
200,000 or below. That's how important.
It's got like 23
billion or so
people. He's finesse and he's
the, yeah we're
2525 billion. Did you buy that portfolio we talked
about yesterday? We did, we did.
So we've we've been able to acquire portfolios.
So 400,000 customers pay us and again on average the
they're paying anywhere from $500 a month to about 900
a month
and it's super affordable. And now their home built to
0 energy ready,
we've
got 30 billion or so homeowners coverage.
So please watch those Tortagos going
to hit one of ours for sure.
Warren really knew the insurance business when we got in
and appreciated that
is this 3 bedrooms, this one it is and this,
this is a flex model.
So this is the Today is the national launch
of our Encore offering. So there'll be 8 facilities across
the country this year that build this and you can
decide if you want 2 bedrooms and a flex room
or whether you want that to be a third room.
This comes with a porch option,
all that built into the home
on the side here. So it's a very flexible,
but we'll to gain efficiency,
we'll build this across the country
and be able to offer it at that kind of
affordability.
I'm ready. I bought a lot of the homes back
into that with 21 years ago and I I just
like one for myself.
We know you're good for.
I'd like to get one for yeah yeah.
It
hasn't been tested lately but it it is good.
Well you sure made a lot possible for us so
we're we're excited now to it's just started.
Yeah.
So we love building the traditional site build housing as
well as in addition to the modern manufactured home.
And our goal there is to
to be the affordable attainable entry level
on the site built side too and then kind of
blend
the technology we have of building a lot of components
indoors versus outdoor,
right. He's got 99 conventional
builders and they've made a few bolt on acquisitions.
So they'll build, they're on track to build
10,600 site built homes. That'll put us at about the
number 7th in the country as far as
site builder. But we need more houses in terms of
specific markets.
Worth
could usually be one or two.
I mean that. Yes,
that's right. Yeah. When you look at the Carolinas and
Florida and
Tennessee, we ranked up there very high.
Yeah, it
was a good day that
the students sent me down to claim.
Yeah, the, the students. I think the University of Tennessee
was the first class that you started bringing here for
lunch.
Yeah. Well, it could be.
It certainly was the first one
that that gave me a
a business tip, you know,
I mean, they always want stock tips for me and
they gave me a business tip for when they've all
written his book.
And yeah, I hope I I gave that professor
the sheriff a
oh, did you? And I gave the.
I gave the students. He's some big stock guy.
I hope they all held on to
it. Oh yeah, I was at that meeting and also
they all went crazy.
Tell them to vote for me.