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Manufactured housing communities—where residents often own their homes but lease the land beneath them—have traditionally been viewed as an affordable housing option.
However, private equity firms and large investment companies are increasingly acquiring mobile home communities and raising rents.
That's what recently happened at Smoky Palms North in Clinton, TN, where rents more than doubled under new corporate ownership.
“They’re raising my rent from $275 to $650,” Lillian Goins told WATE. “Yes. I’m retired. I work two days part-time to make ends meet. I think this is absolutely ridiculous. I can understand when somebody bought it, you...
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According to a recent report from Realtor.com, the median mobile home listing price was just $141,450, compared with $410,000 for a single-family home.
Whenever you see an article that claims that the average mobile home costs $141,450 (when it’s actually more like $40,000) you know that each and every statistic is completely fabricated and it’s a total waste of your time.