Private Equity’s Ruthless Takeover Of The Last Affordable Housing In America

Mobile homes are one of the last remaining affordable housing options in America. Now they’ve become private equity’s latest target. Private equity firms now own at least 1200 parks nationwide. And residents have seen their rents spike by as much as 100% in the last 6 years.
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[viserie]

Corporations should not be allowed to purchase residential land

[laurawalker]

The greed in this country is obscene. The inhumanity is cruel.

[Mexicanb]

Companies owning 100, 000+ homes should be illegal

[JoshuaArnold-icjg]

Housing crisis, health crisis, financial crisis, cost of living crisis, debt crisis, inflation crisis, Middle East crisis. How many crises can we endure? As I approach retirement with a solid financial cushion, I'm anxious about a potential banking crisis. Is private equity a good option to grow my money securely? Any guidance in this regard would be much valued.

[theundone]

Private equity is destroying every market in America. Every single one.

[Yormsane]

"There is no American dream any more, all it is is survival..." I really felt that.

[shekharmoona]

This is why I get angry at politicians and billionaires that call themselves patriots all while screwing over the same elderly veterans and civilians that supported this country.

[COLAITHE]

Forcing nearly 30% of Americans to be homeless is begging for an all-out civil war all over again. But this time the government isn't getting anything back.😂

[TheLexikitty]

Its wild that we constantly have to force businesses to do the right thing when the government is the one that allows them to operate in the first place.

[DarthFather_]

The United States is completely unsustainable at this point

[fionasmom]

That scene where people are attending a workshop and then touring like they are on a field trip to LEARN how to exploit the poor souls who live in the trailer park. It's beyond disgusting.

[dr.j]

When injustice becomes law, rebellion becomes duty!

[johnathansilva]

Rent:
2018: $750
2020: $850
2022: $1, 200
2024: $1, 500

RENT SHOULD NOT DOUBLE IN 6 YEARS!

[monkeyjshow]

My wife died unexpectedly two years ago. I fell apart and fell behind on the lot rent which was increased twice after she passed. I ended up homeless for a few months, and trying to buy something on back taxes in Michigan this year was not even remotely possible as the corporations threw tons of money at the auctions. Corporations should not be allowed to own residences

[jeffbroders]

Another example of corporate greed ruining the country.

[urbanfrog]

It is happening elsewhere too. I live in New Zealand. I used to live in a caravan park (as we call them here), then it was bought out by a francise group buying up caravan parks all over the country. It actually became cheaper to live in a house, with all the costs of rent, power, etc, than to live in there.
The other two caravan parks in the area were bought up by developers for high cost housing estates.

[PaulKatrina.]

To my own research In USA, individuals living in cars due to partial homelessness result from a complex interplay of factors. High housing costs relative to income, stagnant wages, and income inequality drive this issue. Job loss, weak social support, medical expenses, evictions, and lack of affordable housing also contribute, while systemic problems and inadequate policies further perpetuate the phenomenon.

[jer]

Sounds like straight up extortion.. These private equity heads should be thrown in prison.

[MeiMitokai]

"They can tolerate rent increases because they can't afford to leave" is just psychotic. I can't believe there are people out there who can say that out loud with no guilt.

[trb]

I watched my rent space go up from 450$ per month in 2002 to 1200$ in 2011.
This family owned property of 350 spaces in Southern California was sold to 1 of these Wall street investors & they have no interest in keeping it AFFORDABLE.