Housing in the U.S. is getting more expensive all the time — especially lately. A real estate research firm found rent across the country increased by about 11% last year.
Now one of the last affordable housing options left in America is mobile homes, but people are being priced out of those, too.
One report from June 2021 showed investors made up almost a quarter of mobile home park purchases between 2019 and 2021.Mobile Home Park University is an organization that runs a boot camp to help investors looking to buy these parks. For these residents, an increase would have a significant impact on their ability to keep up with their finances.
Affordable housing options are limited, and only 1 of 4 low-income households eligible for federal housing assistance actually receives it. Investors have access to government loans from agencies like Fannie Mae, which has acknowledged those mobile homeowners tend to have lower incomes. "A lot of them are able to buy their parks instead of the investors, but when they do, they do it with less attractive financing," McCarthy said.
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