A New Partnership to Help Homeless Families Own Manufactured Homes
Each year, as many as 3.5 million people are homeless in the United States, and an estimated seven million people are at risk of becoming homeless. Approximately 34% of the total homeless population are children under 18.
With so many people already homeless and at risk of losing their homes, safe, sustainable and affordable housing solutions are needed more than ever before. That’s why Prosperity Now is pleased to announce a new partnership with Family Promise, a network of community-based programs whose mission is to help homeless and low-income families achieve sustainable independence through community support. Five Family Promise affiliates from across the country will be participating in this new initiative, including Yellowstone Valley in Billings, Montana; Great River in Elk River, Minnesota; Anoka County, Minnesota; Knoxville, Tennessee; and Salem, Oregon.
Through the Family Promise Partners In Housing program, families participating in transitional housing programs will have the opportunity to directly transition to manufactured housing. This program provides families with an opportunity to escape homelessness in a way that is financially responsible while allowing them to become homeowners building their own equity. Prosperity Now is excited about this partnership and the impact the program will have on hundreds of families transitioning out of homelessness across the country.
Homeownership has long been the primary way for families to build wealth in the United States. Owning an affordable home can offer working families stability, security and wealth to pass on to the next generation. However, limited access to affordable financial products, the shortage of affordable starter homes and other barriers keep too many low- and moderate-income Americans at risk for homelessness. Manufactured housing offers a solution for low- and moderate-income families to achieve the dream of homeownership. Although many myths get perpetuated about manufactured housing, the truth is that it remains the largest source of unsubsidized affordable housing in the United States.
At Prosperity Now, we are constantly striving to provide more Americans, particularly people of color, the chance for homeownership. One of our key strategies for unlocking homeownership opportunities is our I’M HOME Network, which aims to transform public policy and private markets to make manufactured homes an affordable source of wealth creation that families are proud to call home. In conjunction with our I’M HOME Network partner organizations, Prosperity Now works to support the value of manufactured housing in the affordable housing arena.
Prosperity Now believes that whether you own or rent your home, it should be affordable, and it should not be a barrier to wealth creation. As our partnership with Family Promise evolves, we look forward to sharing more information about how we’re working together to create a more equitable housing landscape in our country. If you want to stay informed about these efforts, we invite you to join the I’M HOME Network today.