The busting of the manufactured home bubble happened long before the rest of the housing market — since 1998, manufactured home placements have fallen by nearly 90%. As a percentage of total housing production, manufactured homes in 2012 accounted for 7.4% of the total, down from 20.2% in 1998, according to MarketWatch.

Patrick Simmons, director of strategic planning at Fannie Mae, notes these homes are a good low-cost housing option, accounting for 17% of owner-occupied units with monthly costs of less than $500 — at typically half the cost of other housing types.

He doesn’t expect a revival soon.