Monday, May 4, 2015

The State of Economy: Housing

Well, this is just spiffy (sarcasm).

It seems investors are buying up trailer parks and raising fees on people who make below the poverty line and/or receive government assistance. This means that whatever money they had left over after rent and utilities is now completely gone... Or that they can no longer afford housing and have to go homeless.

But why are they raising rates? Because the rates are far below market value and because they can... The tenants truly have no where else to go but the street. That's just sick and wrong. Not all are doing this, but some are and I think it's wrong. The units are already profitable before raising rates.

What I find interesting is that 40% of the US is earning less than $20,000. Tell me, how is this economy doing? Does that jive with the 4.5% jobless rate? No, no it doesn't. This current administration wants you to believe we're out of recession, but we've really never left.

Reading this article should give one a new appreciation for the struggles of those living below the poverty line... clearly the bottom two quintiles, or for those that are ostracized, by law (due to their own actions), from general societal population. They also need a place to stay.  But those of us in a position to manage these locations should not be putting on the squeeze.


http://www.theguardian.com/lifeandstyle/2015/may/03/owning-trailer-parks-mobile-home-university-investment



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