In the past 2 years, many buyers were unable to buy a house because they just could not compete with the cash buyers and exuberant overbidding that was going on. With many of the buyers I assisted during these crazy times, we were able to get into wonderful condos and townhomes.
The name of the game at that time was to get into a property, obtain some tax savings and put your money to work through homeownership. Fortunately, all 3 were accomplished. In fact, in some instances, the condos/townhomes purchased actually went up higher in equity than some of the homes.
The article mentioned mobile homes and while I am not a big fan of mobile homes, I can say that I have had friends with them and have seen huge appreciation for their purchases. The down part of purchasing a mobile home is sometimes you need a higher down payment, the space rent can be outrageously high and there are way more restrictions than with condos/townhomes. That said, mobiles can be the right investment for the right person.
In the end, we all just want to own our beautiful dream house, and sometimes starting out a bit smaller really makes sense because that will be your stepping stone to your dream home and hopefully an investment opportunity for the future
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