{"version":"1.0","type":"rich","provider_name":"Acast","provider_url":"https://acast.com","height":250,"width":700,"html":"<iframe src=\"https://embed.acast.com/$/5aad9a49e932f49b6bf95c66/6af24726ce118fd5b5a8e1de?\" frameBorder=\"0\" width=\"700\" height=\"250\"></iframe>","title":"Why Mobile Home Parks Didn’t Crash","description":"<p>info@evergreencap.com</p><p>https://www.evergreencap.com/income</p><p><br></p><p>The 10-year Treasury has climbed roughly 355 basis points since COVID, yet manufactured housing cap rates are up only about 70 basis points. In this episode, Brad Johnson goes beyond the usual supply-and-demand thesis to explain the financial theory behind why mobile home park valuations have held up.</p><p><br></p><p>Topics covered:</p><ul><li>Why cap rates haven&#39;t moved one-for-one with interest rates</li><li>How long it takes NOI growth to recoup a cap rate increase</li><li>The remarkable stability of manufactured housing NOI vs. apartments since 2007</li><li>The three components of a cap rate: required return, growth, and liquidity</li><li>Comparing real estate pricing to stock multiples (think Costco and Palantir)</li><li>Why compounding NOI growth and operating leverage support higher valuations</li></ul>","author_name":"Brad Johnson"}