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Rents spike as big-pocketed investors buy mobile home parks

Investors are buying up mobile home parks across the country, leading to significant rent increases and complaints of neglect from residents

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Rents spike in mobile home parks

LOCKPORT, N.Y. For as long as anyone can remember, rent increases rarely happened at Ridgeview Homes, a family-owned mobile home park in upstate New York.

New yorkUnited statesNew hampshireUnited kingdomGreat fallsFreddie macJosh weissAlex kornyaMatt chapmanGerald korbGeorge mccarthyA freddie macCindy newmanBenjamin bellusJoyce baylesJeremy ward

Rents spike as deep-pocket investors buy mobile home parks

Critics contend mortgage giants Fannie Mae and Freddie Mac are fueling the problem by backing a growing number of investor loans.

New yorkUnited statesNew hampshireUnited kingdomGreat fallsFreddie macJosh weissAlex kornyaMatt chapmanGerald korbLauren petraccaGeorge mccarthyA freddie macCindy newmanBenjamin bellusJoyce bayles

Rents spike as investors buy mobile home parks

Institutional investors, led by private equity firms and real estate investment trusts and sometimes funded by pension funds, swoop in to buy mobile home parks.

New yorkUnited statesNew hampshireUnited kingdomGreat fallsFreddie macJosh weissAlex kornyaMatt chapmanGerald korbLauren petraccaGeorge mccarthyA freddie macCindy newmanBenjamin bellusJoyce bayles

Rents spike as big-pocketed investors buy mobile home parks

LOCKPORT, N.Y. (AP) For as long as anyone can remember, rent increases rarely.

New yorkUnited statesNew hampshireUnited kingdomGreat fallsFreddie macJosh weissAlex kornyaMatt chapmanGerald korbGeorge mccarthyA freddie macCindy newmanBenjamin bellusJoyce baylesJeremy ward

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