A mobile home park in Moses Lake is up for sale and a new state law assures residents a shot at buying the property.
In the past they might’ve never known it was on the market until after it was sold.
Owners of North Pointe notified residents on July 17 that they are looking to sell the 25-space mobile home park.
This started the clock on a process providing those living there and eligible organizations approved by the state Department of Commerce an opportunity to compete with other potential buyers.
That chance is etched into a law that took effect Sunday and is intended to help preserve this stock of affordable housing.
Until now,...Read More
Our thoughts on this story:
The residents rarely have the ability to come up with the money on these ridiculous first-option rules. The odds are about as large as a meteorite hitting the title company. Just read the article itself. Here’s the proof:
“There are now 24 resident-owned communities in Washington and roughly 300 across the country, she said”
Here’s a reality check. There are around 44,000 mobile home parks in the U.S. There are around 300 resident-owned communities. That’s .0.0068% probability that they pull it off. Or conversely a 99.32% chance they can’t. Is that really worth the delay these first-option rules require? Clearly not. Then why pass such nonsense? Because it panders to the voting base and most voters are too stupid to know the actual math.