Preview:
Four mobile home parks in the region recently voted to form a cooperative in order to counteract some of the issues they experience.
Residents of all four mobile home communities in the area are facing rent hikes of between 11% and 101%. (See accompanying chart)
According to the National Cooperative Business Association, manufactured housing is susceptible to unique concerns. Since residents only own their homes, and not the land that their homes are on, they can be subject to poor infrastructure. This issue was exemplified by the Appaloosa Court situation when residents experienced problems with their water supply.
In March, Victoria...
Read MoreOur thoughts on this story:
This journalist is apparently offended because of the“feudalistic arrangement” between the tenant and the mobile home park owner. My question is “what form of real estate does not have a feudalistic arrangement”? In all property rights, the owner holds all the cards and the tenant has none. Is there some other arrangement the writer proposes? Maybe one in which the owner puts up all the money and risk and then the tenants choose the rent level? Even Karl Marx would tell you it’s a hard sell.