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What happens when investment firms acquire trailer parks

newyorker.com

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Re: What happens when investment firms acquire trailer parks

#61

Earlier quoted context omitted.

At $15/hour, that security guard is probably close to double the income people living in trailer parks earn.

Adjusted for cost of living, that security guard is poorer than the person living in a trailer park or very close to it. There's been a large rise in people living in campers in California due to high rents.

As we all know, how things are in CA does not evenly apply to the other 49.

Re: What happens when investment firms acquire trailer parks

#62
post #36

Having spent a decent amount of time in one of these myself, I much prefer the term "trailer park" to "mobile-home community". The article uses the term interchangeably, but they explain this important detail themselves: "The homes in the park are not as portable as its name implies; they’ve been placed on foundations, and their hitches have been removed." In my experience, in older parks especially, there is no way…

[deleted]

Re: What happens when investment firms acquire trailer parks

#63
post #14

The US are such a weird country... on one hand, Silicon valley et al, producing the coolest tech & the shiniest toys, and on the other hand... people who can only afford to live in trailer parks, even with a full time job. It never ceases to amaze & depress me simultaneously.

I suspect we gutted our middle class with globalization. Any jobs that could be exported overseas for cheaper were, and management was rewarded for saving investors so much money by outsourcing those jobs. If we had a stronger collective identity (as with many European countries) we might've felt a kinship or patriotic duty to protect those jobs or otherwise redistribute the wealth garnered by outsourcing. And I'm not optimistic that this will get better given how much Americans are being primed to reject any collective national or even human identity and instead identify with their race and party.

Re: What happens when investment firms acquire trailer parks

#64
post #14

The US are such a weird country... on one hand, Silicon valley et al, producing the coolest tech & the shiniest toys, and on the other hand... people who can only afford to live in trailer parks, even with a full time job. It never ceases to amaze & depress me simultaneously.

The oddest part about it is how much of a mess the Bay Area is. Typically you’d expect centers of wealth to be excessively clean, filled with expensive architecture and monuments, etc. to the point of being boring. Dubai, for instance. Somehow SV just decided to not bother with that at all.

This may literally be the first time in history someone recommended San Francisco be more like Dubai.

Genuine question - when you're in the bay, do you spend time in any of the following: Pac Heights / Presidio Heights / Seacliff / Woodside / St. Helena / West Palo Alto / Stanford's Campus / Saratoga?

I think the reason you have the perception that you do is that the bay area is one of the least tourist-friendly locations in the world, frankly because the class you talk about loathes outsiders.

EDIT: A great microcosm of this is Sand Hill Road. Looks like less than nothing from the street, but it's home to some of the most expensive and nicest office real estate in the world. Apple HW stands out as another great example.

Re: What happens when investment firms acquire trailer parks

#65
post #14

The US are such a weird country... on one hand, Silicon valley et al, producing the coolest tech & the shiniest toys, and on the other hand... people who can only afford to live in trailer parks, even with a full time job. It never ceases to amaze & depress me simultaneously.

The United States is the land of high variance. We let people crash and burn, but we also let people soar. A society that permits the former is unremarkable — letting people suffer is the default in poverty, and most countries are relatively quite poor. But the latter, letting the tall poppies stand proud with not much more than heckling for their height, is something special, and it's a big part of how we've become…

So true. This is why the US is so much better than Asia.

What worries me however is how there are more and more laws and regulation to not let people crash and burn - like forcing people to have health insurance. Stupid code for building houses - etc

EDIT: and I'm not being sarcastic. I admire how by taking the correct decision to apparently sacrifice the poor, we have made the pie bigger for everyone including the poor (unfortunately, as noted by a comment below about Des Moines, building code is quickly changing that)

Re: What happens when investment firms acquire trailer parks

#66
post #36

Having spent a decent amount of time in one of these myself, I much prefer the term "trailer park" to "mobile-home community". The article uses the term interchangeably, but they explain this important detail themselves: "The homes in the park are not as portable as its name implies; they’ve been placed on foundations, and their hitches have been removed." In my experience, in older parks especially, there is no way…

What people tell me is that it stops being mobile after you “park” it. So basically mobile from the dealer lot to the park and not so much after that.

Re: What happens when investment firms acquire trailer parks

#67
post #14

The US are such a weird country... on one hand, Silicon valley et al, producing the coolest tech & the shiniest toys, and on the other hand... people who can only afford to live in trailer parks, even with a full time job. It never ceases to amaze & depress me simultaneously.

I suspect we gutted our middle class with globalization. Any jobs that could be exported overseas for cheaper were, and management was rewarded for saving investors so much money by outsourcing those jobs. If we had a stronger collective identity (as with many European countries) we might've felt a kinship or patriotic duty to protect those jobs or otherwise redistribute the wealth garnered by outsourcing. And I'm no…

> I suspect we gutted our middle class with globalization.

It's not about middle class. In other rich countries, everyone, incl. the lower class, can afford to live in apartments, and doesn't have to resort to living in trailers.

Re: What happens when investment firms acquire trailer parks

#68
post #14

The US are such a weird country... on one hand, Silicon valley et al, producing the coolest tech & the shiniest toys, and on the other hand... people who can only afford to live in trailer parks, even with a full time job. It never ceases to amaze & depress me simultaneously.

I suspect we gutted our middle class with globalization. Any jobs that could be exported overseas for cheaper were, and management was rewarded for saving investors so much money by outsourcing those jobs. If we had a stronger collective identity (as with many European countries) we might've felt a kinship or patriotic duty to protect those jobs or otherwise redistribute the wealth garnered by outsourcing. And I'm no…

Globalization and other factors didn't help, but the continued refusal to pay people a reasonable wage for full or part time work is a huge part of why the middle class is struggling and the class below is failing to move up into the middle class over time. The minimum wage hasn't budged in decades, and in general wages have not remotely kept up with increases in productivity and revenues. If the minimum wage had been going up middle class wages would have had to increase to stay ahead and likely everyone would be doing a lot better. There's a lot of paranoia about possible negative impacts of wage increases, but it's been tested in many municipalities at this point with no major issues, and virtually every other western country has a much higher minimum than us.

Re: What happens when investment firms acquire trailer parks

#69
post #14

The US are such a weird country... on one hand, Silicon valley et al, producing the coolest tech & the shiniest toys, and on the other hand... people who can only afford to live in trailer parks, even with a full time job. It never ceases to amaze & depress me simultaneously.

And when you combine Silicon Valley and a mobile home park you have a $40M property. With 117 units, that's $342000 per unit + a the cost of renovations. https://www.paloaltoonline.com/news/2017/05/18/404m-deal-sav...

Re: What happens when investment firms acquire trailer parks

#70
post #65

Earlier quoted context omitted.

The United States is the land of high variance. We let people crash and burn, but we also let people soar. A society that permits the former is unremarkable — letting people suffer is the default in poverty, and most countries are relatively quite poor. But the latter, letting the tall poppies stand proud with not much more than heckling for their height, is something special, and it's a big part of how we've become…

So true. This is why the US is so much better than Asia. What worries me however is how there are more and more laws and regulation to not let people crash and burn - like forcing people to have health insurance. Stupid code for building houses - etc EDIT: and I'm not being sarcastic. I admire how by taking the correct decision to apparently sacrifice the poor, we have made the pie bigger for everyone including the p…

Wait, what? You're against building codes? A lack of building codes is in no way why the US has been successful. They prevent people from literally burning.
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