The Economics of Everyday Things 18. Mobile Home Parks
Sep 18, 2023
Explore the profitability and increasing popularity of investing in mobile home parks. Learn about the diverse living conditions and demographics of these parks, including stories of those who have been impacted by COVID-19. Discover the challenges and disparities faced by park residents, as well as the benefits of resident ownership and forming cooperatives to buy the land.
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From Billboard Executive to Mobile Home Mogul
- Frank Rolfe, initially embarrassed to own mobile home parks, saw their potential due to restrictive zoning.
- Despite criticism, he became a top owner, demonstrating the profitability of this overlooked market.
The Land Ownership Advantage
- Mobile home parks offer an attractive investment because residents own homes but not the land.
- This creates an imbalance of power, favoring park owners who can raise rents.
Rent Hikes and Resident Impact
- Cheryl Strayburger, a retired nurse, saw her lot rent increase significantly under new park ownership.
- This caused financial strain, highlighting the impact of rent hikes on vulnerable residents.