Housing in the U.S. is getting more expensive all the time — especially lately. A real estate research firm found rent across the country increased by about 11% last year.
Now one of the last affordable housing options left in America is mobile homes, but people are being priced out of those, too.
One report from June 2021 showed investors made up almost a quarter of mobile home park purchases between 2019 and 2021.Mobile Home Park University is an organization that runs a boot camp to help investors looking to buy these parks. For these residents, an increase would have a significant impact on their ability to keep up with their finances.
Affordable housing options are limited, and only 1 of 4 low-income households eligible for federal housing assistance actually receives it. Investors have access to government loans from agencies like Fannie Mae, which has acknowledged those mobile homeowners tend to have lower incomes. "A lot of them are able to buy their parks instead of the investors, but when they do, they do it with less attractive financing," McCarthy said.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
One Piece Fans Are Torn On One Piece: Red's Strange New CharacterOne Piece: Red is set to arrive this summer in theaters in Japan, with August 6th being the date [...]
Read more »
Greater one-horned rhino population is on the way upThings are looking up for the greater one-horned rhino.
Read more »
Tristan Thompson Says LeBron And Kyrie Are One Of Greatest Duos EverICYMI ... Tristan Thompson says the pairing of LeBron James and Kyrie Irving is one of the greatest duos ever.
Read more »
One More Day of Heat, Humidity Ahead of Scattered StormsA heat advisory is in effect as temperatures scorch this weekend with highs in the 90s both Saturday and Sunday as the humidity makes it feel as hot as around 100.
Read more »
Rolls-Royce builds its second Boat Tail, one with a pearl themeRolls-Royce reveals its second Boat Tail model. The hand-built convertible is the second of three and features a pearl theme.
Read more »
Latest line: A good week for Trina Thompson; a bad one for Natalie Le DeMolaOakland native, an Alameda County judge, wins Senate confirmation to federal bench.
Read more »