What Happens When Investment Firms Acquire Trailer Parks

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There isn’t a state in the U.S. in which a person working full time for minimum wage can afford a one-bedroom apartment at the fair-market rent, according to a recent report. As income inequality rises, investors turn to trailer parks as a growing market.

As Presley discussed the complexities of the lease with Mills and their neighbors, she felt a surge of fury. “I was pissed,” she said. “I thought people were being played with.” The next day, she and Mills printed flyers inviting residents to a meeting the following Sunday afternoon in the yard outside the community storm shelter. A hundred and fifty people showed up. Presley and Mills handed out yellow stickers that read “No to.

Rolfe met Dave Reynolds, an accountant whose parents owned a mobile-home park in Colorado, at a mobile-home-investing conference in 2006, where both of them were speaking. Soon afterward, they created Mobile Home University, a program for potential park owners which offered, among other things, three-day seminars in Southern California and Denver, for almost two thousand dollars a ticket. Later, they established a partnership that invests in mobile-home parks.

Around this time, Presley was contacted by Lindsay James, a Democratic state representative. James, who had been hearing from distraught constituents who lived in the park, put Presley in touch with two Legal Aid lawyers, Alex Kornya and Todd Schmidt, who agreed to analyze the new lease, and with Tom Townsend, a business manager from the local chapter of the International Brotherhood of Electrical Workers, who offered the use of his organization’s union hall for the residents’ meetings.

One Saturday in April, 2019, Zach Wahls, a Democratic state senator who represents Iowa’s Thirty-seventh District, read a news article about rent increases at mobile-home parks in his district. Wahls is twenty-nine years old and six feet five, with brush-cut brown hair, rosy cheeks, and dimples. When the legislature is not in session, he works as a vice-president for community investment and development at GreenState Credit Union, in Iowa City.

There were only a few weeks left before the Iowa legislative session adjourned for the year. Wahls knew that there wasn’t time to get any ambitious new legislation through the state’s House and Senate, which are Republican-controlled, so he rushed to introduce an amendment to an existing bill, first proposed by a Republican colleague, that would extend some basic tenants’ rights to residents of mobile-home parks. The legislation was unanimously passed by the Senate.

 

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Notice those job aren’t being filled either. The market is working before your very eyes commies

amyliztweets Minimum wage isn’t meant to live off of ? It’s for high school kids and retirees ! Financial literacy Education, exposed to opportunities and inspired to greatness and no issues on housing ! For the rest yes either home share or trailer park

the gentrifying hurricane is the key twister in tin-can alley.🌀

BrentNYT '...no republic is safe that tolerates a privileged class, or denies to any of its citizens equal rights and equal means to maintain them'. Frederick Douglass, 1866

This article was very upsetting.

And still people have a hard recognizing: CAPITALISM IS THE PROBLEM! Capitalism is the reason our planet is boiling, kids are murdered in school, ppl are underpaid and cant afford a place to live, minimum wage is so low, high gas prices, medical care is so high, list goes on…

This is truly the time for regular America. The backbone and solid base of this nation. Through Covid you brave souls keeps America going. $15 is comical. Company leaders made the trucks full of money. I say to you! Start everyone at $18 to $22 per hour. Better benefits also.

Capitalism relies on the have not enough’s.

You live where you can afford it.

Snort. Can’t afford a place around here for $25 per hour.

In Nashville, they just tear them down and build something else.

Daily stable income, click my avatar

Interesting because many ppl don't even know what FMR is. My book explains how to correct that very issue of min. wage not enough even for an efficiency in any state. If interest in reading it let me know and I'll get you free kindle version.

Brutal

This is bleak at

There might well be investments in possible lower cost living trailer parks, but newly developed can't be geared for anyone making minimum wages to afford, buying up existing parks with much less than premium rental trailers, sure maybe, doubt it.

Wow no way. People making minimum wage full time can’t afford an apartment anywhere? Shocking

This is a grim read.

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more people will live in a car..terrible

Real estate & landlords are out of control. We need to take a serious look at these stats.

The federal minimum wage though right? Because the actual minimum wage set by the market where I live is around $14. McDonalds is paying $14/hr.

How did we come to set the price of a smoothly running economy at food, housing, job, and healthcare insecurity for millions of people, including children?

Considering worsening climate change that sounds like a lot of tornado carnage or storm damage. It's like co-signing future death.

And the investors keep buying up new housing as an investment before those properties are even built, building in future rental income for themselves while driving up prices and blocking out affordable housing for many.

That is quite the statistic. When homelessness is the only affordable option?!

look at my naked photos

You also want the place to be 95% white or more.

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