What happens when private equity takes over mobile home parks
Thanks in large part to the pandemic, home prices are soaring. In March, the median hit a record high of over $370,000. One affordable housing option is the mobile home.
Around 22 million Americans live in a mobile or manufactured house. It’s the largest sector of non-subsidized affordable housing in the country. Unfortunately, they aren’t turning out to be the haven many were hoping for. Now, investors are scooping up these parks during the pandemic.
New ownership from out of state has meant restrictive rules, price hikes, and sometimes even eviction. Mobile home residents are particularly vulnerable to these buyouts with few rights and protections.
We talk about what this means for affordable housing in the U.S. and mobile home parks across the country.
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