Manufactured housing. The “lease” that they’re referring to is probably a land lease on the pad. Not counting the actual maintenance costs of the common elements for the park this is the equivalent of paying another $100,000 for a freestanding home on a subdivision or condo lot, assuming there are no escalation clauses in the lease.

If you’re looking at it from a housing standpoint it’s not necessarily a bad deal except that you never get away from those lease payments. From a wealth building standpoint it’s less appealing because at the end of the lease there probably isn’t anything left – you don’t own a lot that can be redeveloped.