What happens when investment firms acquire trailer parks
1–10 of 166 posts
Re: What happens when investment firms acquire trailer parks
#2Who knew "own nothing and be happy" involved crushing rental fees to wall street.
Re: What happens when investment firms acquire trailer parks
#3Ready Player One and the dystopian future of trailers that are packed on top of each other reaching up like sky scrapers.
Re: What happens when investment firms acquire trailer parks
#4I'm going to guess on the record before reading article: debt based financing of the sale, PE firm steadily increases rent and lowers investment into facilities, bankruptcy and evictions ensue
Re: What happens when investment firms acquire trailer parks
#5New Yorker paywall kicks in after a few views: https://archive.is/NJbuh
Re: What happens when investment firms acquire trailer parks
#6For those who like John Oliver’s presentation style, he has also covered this topic in video form: https://youtu.be/jCC8fPQOaxU
Re: What happens when investment firms acquire trailer parks
#7I'm going to guess on the record before reading article: debt based financing of the sale, PE firm steadily increases rent and lowers investment into facilities, bankruptcy and evictions ensue
It’s the standard PE playbook, and you’re correct. In this case, they wait for the tenant to default on the ground rent, then seize the mobile home and resell/re-rent it. Repeat ad infinitum.
The manufactured home itself depreciates in value like a car or RV, so even if you don’t get fucked by your landlord, you get fucked on depreciation. At least in an apartment you don’t pay for maintenance or depreciation!
Re: What happens when investment firms acquire trailer parks
#8Who knew "own nothing and be happy" involved crushing rental fees to wall street.
They said you will own nothing, not them.
They also said "and you will be happy", which was an order.
Re: What happens when investment firms acquire trailer parks
#9I'm not done and it's a pretty grim read but I definitely got a smile from this about halfway through.
'A video of the speech went viral, prompting an Australian writer, Chloe Angyal, to publish a piece for the Web site Feministing titled “Marry Me, Zach Wahls.” In 2013, Angyal and Wahls met in New York; they are now engaged.'
Re: What happens when investment firms acquire trailer parks
#10> The financial industry[...] is undermining one of the country’s largest sources of affordable housing.
1. Yeah, I made an opinionated omission there. Sue me :D
2. That last part (the country’s largest sources of affordable housing) is even more damning than the rest. :( In a country that big, and that rich, with a frontier ethos like that, how the f*k does anyone think this is acceptable?