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Private Equity Firms Buying Mobile Home Parks and Driving Out Residents

The Conversation

One of America’s most affordable paths to homeownership is slipping away. Over the past decade, rents in these parks have risen 45%, and once a park is sold, the risk of eviction rises significantly in the following year; only 22 states have laws that require advance notice to residents of park sales, while Maine passed a law that gives park residents a right of first refusal and New York state passed a law limiting annual rent hikes in mobile home parks to 3%.

http://theconversation.com/private-equity-firms-are-snapping-up-mobile-home-parks-and-driving-out-the-residents-who-can-least-afford-to-lose-them-264456Read more...

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