Our Homebuilding & Manufactured Housing Panel highlighted continued resilience among higher-end consumers, while affordability and confidence remain obstacles for more payment-sensitive buyers. Builders described mortgage rate buydowns as an enduring competitive advantage over resale homes, with lower incentives representing a key opportunity for margin improvement. Elevated land costs and emerging pressure on labor and materials reinforced the importance of scale. Manufactured housing offered a more encouraging demand outlook, although strength also skewed toward higher price points. Greater design flexibility, state-level zoning changes, and potential financing improvements were viewed as longer-term growth opportunities, with the timing of meaningful volume benefits still uncertain.