(RICHMOND, VA) One of America’s most affordable paths to homeownership is slipping away.
At manufactured home parks – sometimes called trailer parks or mobile home parks – rents are rapidly rising due to large-scale buyouts by private equity firms.
Although private equity’s foray into the housing market is not new, the buyout of mobile home parks by investment firms is on the rise – with devastating consequences for residents. Over the past decade, rents in these parks have risen 45%, according to census data. Once a park is sold, the risk of eviction rises significantly in the following year…