Trailer Home Rent EXPLOSION — Is Nowhere Safe from Inflation?
(TruthandLiberty.com) – Across the country, home prices and rents have exploded in the past few years as the demand for housing outstripped the supply of homes for sale. To avoid the high cost of housing, many retirees on fixed incomes chose to purchase trailer homes and rent the small lots for modest monthly fees. Mobile home parks have been a staple of affordable living, but now it appears like everything else, even living in an RV community may no longer be affordable for many US residents.
Approximately 20 million Americans live in mobile home communities, and in some instances, residents face land rents rising by 300% or more. Retired home-care aide Virginia Rubio told the Washington Post that she could no longer afford to live in her mobile home. The 75-year-old lives on $860 per month in Social Security benefits and receives food stamps. While she owns her house, she must rent the small space of land where it sits. The rent payment used to cost her $350 per month, but her landlord suddenly increased that figure to $1,000.
“Surging home prices and rents are cascading down to the country’s mobile home parks, where heightened demand, low supply and an increase in corporate owners is driving up monthly costs for low-income residents with few alternatives.” https://t.co/ywSwcu8bKX
— Economic Hardship Reporting Project (@econhardship) June 9, 2022
The rising mobile home park rents are part of a nationwide trend. The desire for low-cost mobile home communities is on the rise, yet there’s a low supply relative to the demand. At the same time, private-equity companies and other investors are looking to gobble up lucrative properties for their own increased profit.
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