I totally agree with all you said except for one thing. Does anyone buy a variable interest (adjusted rate) loan anymore? So I have relatives buying homes, fixed-rate 30 years and they'll pay much less than renting from the get go. Then considering their housing payments are fixed for 30 years...wow! They won't be able to rent and thus maybe there will be a shortage. (Though, I did get a D in economics )The price of lumber is way up - there’s a shortage.
Houses, not just manufactured, are selling over asking and fast.
Interest rates are low & people want to enter the market. If the rates go back up and they can’t make the payments, there’ll be lots of places available for less.