Investigated Private Equity-Owned Mobile Home Parks - More Perfect Union

[TexasTowelie]

Private equity's greed is squeezing mobile home residents living off of Social Security.

Residents have had to skip their medication to deal with 125% rent increases.

But a bill from Rep. Maxwell Frost could let residents buy their parks before Wall Street swoops in.

[SWBTATTReg]

1. And I think that these people buying MH lots, etc. are the lowest of the low, they know the types of renters and buyers

who are living in these homes. Relatively low income. Perhaps some are not, but for the most part....

I ran several mobile home lots, sold mobile homes, rented home homes. I know the people in them. Two of them were my sisters, one w/ kids. And I kept the rents low and paid the moving fee to move the home into my park. I would have stayed in the business on an ongoing basis after I graduated from college, but I decided to stay in my IT career. I'm glad I did, after all, the currents against decent mobile home parks was going negative, the greed from Wall Street finally reached this neck of the woods. I still can't get over a 125% increase in rent...how do they even justify this?

Right now, if you buy a mobile home, park it on your own land, and if you wish, park a friend or neighbor's there too, if you trust them. At my private mobile home park where my mom and Dad's house were, they stayed in my mobile home while they built their end-of-life home. Worked out pretty well.