12/20/2019 | By Nareit Staff
Sam Landy, president and CEO of UMH Properties, Inc. (NYSE: UMH), participated in a video interview at Nareit’s REITworld: 2019 Annual Conference in Los Angeles.
Landy pointed out that 3.6 million affordable homes are needed across the country and one-third of all people are cost-burdened in that they are spending more than a third of their income on housing.
UMH Properties can provide housing for as much as 50% less than conventional housing, “so we are the affordable housing solution. There’s a lot of demand that we can satisfy,” Landy said.
With its focus on providing housing for blue collar workers, Landy said UMH will be watching employment fundamentals. This demographic sector “appears to be doing very well, and I think that will occur in the future,” he said.