This is part two of a two-part housing series from VPM News Focal Point.
On a hot summer evening, Alvaro and Rebecca Hernandez tend to their bountiful garden.
Tomatoes, peppers and cucumbers fill the plots around the Hernandez home at Bermuda Estates, a manufactured housing community in Chesterfield County. Like the Hernandez’s garden, the neighborhood is flourishing, too, thanks to long-awaited investment and new nonprofit ownership that has committed to working with residents on the park’s revival.
“I feel happy and...
Our thoughts on this story:
A non-profit buys a 50-space mobile home park for a total package price of around $6 million (original price plus improvements) and saves the residents from the evil park owner and they live forever in a land of unicorns and pixie dust. Sheer genius, right? Well, they could just have given each resident $120,000 cash to go buy a nicer stick-built dwelling with zero lot rent (the lot rent is $483 per month). I can’t believe that I’m apparently the only one that sees these type of virtue signaling events make no economic sense. Either the folks who fund these non-profits have poor math skills or have never looked at Realtor.com.