Private Equity Devouring Last Affordable Housing In US: Mobile Homes, Latest Target, Rents Spike

[appalachiablue]

Sept. 17, 2024, (13 mins). More Perfect Union, reporting real struggles of the working class https://perfectunion.us/
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🏚 YT Description : Mobile homes are one of the last remaining affordable housing options in America. Now they've become Private Equity's latest target. PE firms now own at least 1,200 parks nationwide. And residents have seen their rents spike by as much as 100% in the last 6 years.

[CentralMass]

1. This is one of the most important issue's facing us.

[appalachiablue]

10. Absolutely, another bad sign for the county, many problems to clean up.

40 years later, feudal lords rising and more.

[cbabe]

2. WA AG taking them on

https://www.courts.wa.gov › content › publicupload › eclips › 2024 01 03

WA AGs office investigating mobile home park owner Hurst and Son.pdf

PDF WA AG's office investigating mobile home park owner Hurst & Son
WA AG's office investigating mobile home park owner Hurst & Son JASPER KENZO SUNDEEN Yakima Herald-Republic Jan 2

https://www.kxly.com › news › washington-ag-calls-for-rent-fee-rollbacks-at-aberdeen-mobile-park › article_400944ca-6494-11ee-be66-e3a174729af4.html

Washington AG calls for rent, fee rollbacks at Aberdeen mobile park
Oct 6, 2023One of the Aberdeen tenants' largest concerns involved a monthly rent increase from about $485 under the

https://www.fox13seattle.com › news › owners-of-ilwaco-mobile-home-park-ordered-to-pay-926k-for-unlawful-evictions-shutting-utilities-off

Owners of Ilwaco mobile home park ordered to pay $926k+ for unlawful ...
Dec 16, 2023MONTESANO, Wash. - A Pacific County couple has been ordered to pay $926,500 in penalties following

https://www.chronline.com › stories › washington-attorney-generals-office-investigating-mobile-home-park-owner,331956

Washington Attorney General's Office investigating mobile home park ...

Jan 2, 2024After receiving more than 100 complaints from Hurst & Son residents across Washington in 2023, the state

(WA AG Bob Ferguson (D) running for governor)

[appalachiablue]

5. Excellent, glad to know this. Thanks for posting.

[Deuxcents]

3. PBS had a very sobering documentary about this issue a couple of nights ago from Aurora, Colorado

[appalachiablue]

6. Thank you, I'll look for the program..

PBS Newshour, Rents Spike as Large Corporate Investors Buy Mobile Home Parks, July 25, 2022

LOCKPORT, N.Y. (AP) — For as long as anyone can remember, rent increases rarely happened at Ridgeview Homes, a family-owned mobile home park in upstate New York. That changed in 2018 when corporate owners took over the 65-year-old park located amid farmland and down the road from a fast food joint and grocery store about 30 miles northeast of Buffalo.

Residents, about half of whom are seniors or disabled people on fixed incomes, put up with the first two increases. They hoped the latest owner, Cook Properties, would address the bourbon-colored drinking water, sewage bubbling into their bathtubs and the pothole-filled roads.

When that didn’t happen and a new lease with a 6 percent increase was imposed this year, they formed an association. About half the residents launched a rent strike in May, prompting Cook Properties to send out about 30 eviction notices. “All they care about is raising the rent because they only care about the money,” said Jeremy Ward, 49, who gets by on just over $1,000 a month in disability payments after his legs suffered nerve damage in a car accident.

He was recently fined $10 for using a leaf blower. “I’m disabled,” he said. “You guys aren’t doing your job and I get a violation?”

READ MORE: Investors are buying up mobile home parks. These Fresno tenants have a different idea...
https://www.pbs.org/newshour/economy/rents-spike-as-large-corporate-investors-buy-mobile-home-parks

[Deuxcents]

8. It is a series called A Decent Home. I had no idea this was happening nor did those caught up in it

Most owned their homes, sought out municipal help, lawyers..it was eye opening

[appalachiablue]

9. Thanks for the title, I'll check for it again. I knew PE was buying a lot of

of apartments, and single family homes that they're renting and holding onto until they increase in value. Many people want to buy a home now but are shut out during this shortage of housing. I didn't know PE was also buying up mobile homes. Predators, it's awful.

[DENVERPOPS]

4. According to JD Vance

in his latest Rally, the massive inflation in prices of housing is being caused by piss poor immigrants buying up residences across the country........(he seriously said that)

[appalachiablue]

7. I believe it, lying worthless mess. Immigrants buying up houses, what a crock.

[Deuxcents]

11. With these predators, it's the land they are after. They come in, evict the owners..some living there 20 years

And those that stay and fight, end up destitute n homeless. These tactics are ruthless and heartless. Very informative program but hard to take 😡

[DENVERPOPS]

12. they want the land

to sell to a company that will put up hundred of apartments on that property......

[appalachiablue]

14. He's so low, insecure and awful

[bucolic_frolic]

13. For many years, It has been written Americans will live on less

This is the method. Constant restructurings and churning of assets and ownerships. Each new owner strips out costs, raises prices. They've done it to clothing, machinery, power equipment, shoes, electronics. Houses is the latest fad. I don't know how to fight them. People will be living like sardines, locked and loaded. It's no way to live, or maybe that's the whole idea.

[appalachiablue]

15. The scary truth sorry to say. Its'very troubling to watch this process and

the suffering it's causing in a country with the most wealth in the world. It doesn't have to be this way but the powerful care not and their agenda is well supported. I hope the voters turn out and Democrats can blunt some of the dysfunction. We'll find out. Thanks for posting. Packed like sardines is right, and maybe laboring as trash pickers in extreme heat like the people in Elysium, the movie.