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Bill of rights for residents of manufactured housing introduced in Congress
U.S. Rep. Cindy Axne is pushing for tenants’ rights to extend to residents of manufactured housing communities to protect them from predatory rent hikes.
The Iowa Democrat introduced two pieces of legislation last week. One bill aims to establish a set of minimum standards and protections for tenants of manufactured housing communities, which are typically single or multifamily homes built elsewhere and installed to a site, that receive federal financing through Fannie Mae, Freddie Mac, or the Federal Housing Administration.
The other is a reintroduced bill that aims to keep manufactured housing communities “affordable by providing federal assistance for acquiring and preserving these communities,” through purchases by non-profits or local groups.
By Ariana Figueroa (States News)
What Happens When Investment Firms Acquire Trailer Parks?
The financial industry’s pursuit of profits from mobile-home communities is undermining one of the country’s largest sources of affordable housing.
Wall Street investors pricing Americans out of last bastion of affordable housing – Great Falls mobile home park an example
The trend creates an unusual juxtaposition where some of Wall Street’s largest investment firms, including Apollo Global Management, The Blackstone Group and Brookfield Asset Management, are now landlords to some of America’s poorest residents.
