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Over 20 percent of mobile home parks in Maine are owned by out-of-state investors, reports Zara Norman of Bangor Daily News, sparking affordability concerns among residents and housing advocates.
“Long ago, these parks were generally owned by the family owners who built them. Many of those owners are hitting retirement age and selling to corporate investors eager to scoop up some of the last bastions of affordable living,” Norman explains. “Almost always, they immediately increase lot fees on the residents that typically own their homes and steadily raise rent thereafter. New parks are almost never built, keeping rents high.”
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In a trend that has accelerated since the pandemic, over one in five mobile home parks in Maine are owned by out-of-state investors.
How exactly is an “out-of-state” owner any different from an “in-state” owner? Let’s look at America’s largest retailer: Walmart. Except for Arkansas, every single Walmart store is an “out-of-state” owner. Same is true for every McDonalds not located in Illinois and every Hilton Hotel not located in Virginia. The truth is that where the owner lives means absolutely nothing.
STUPIDITY RATING ON A 1 TO 10 SCALE: 8