Among Friends

[Carmie]

This is quite normal anywhere where you rent the land and move your mobile, park models or modular homes.  Not just over 55 places.

They raise the rent and they know you will either pay or sell to someone who will.

Some of these places will even take your home if you get behind in rent.

Use caution!! 

[Mom2Dogs]

I have heard that large corporations are also buying up homes in other area...personally I think it is wrong...once they purchase the prices skyrocket.

[Jersey Born]

@smoochy - Thank you for bringing this important issue to my attention. I knew that hedge funds were buying up a lot of medical practices, but I had no idea that the 55-and-up communities were equally vulnerable to buy-outs and lots of undesirable increases in expenses for those purchasing those homes. Yikes! How horrible for everyone suddenly encountering and having to deal with these bait-and-switch-like situations. I wonder what kind of legal agreement could be entered into and made legally binding upon any entity purchasing the community in the future in order to prevent this from happening to the homebuyers in these communities. 

[lgfan]

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@Mom2Dogs wrote:

I have heard that large corporations are also buying up homes in other area...personally I think it is wrong...once they purchase the prices skyrocket.

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I read that corporations are buying houses they then demolish them and then build condomoniums in their place.  This way they can sell more units and make a greater profit.

[smoochy]

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@FLtricia wrote:

Some of the purchasers of these communities are developers.  They raise the rent so high to force rewsidents to move.  They say this is happening in Central Florida.

Pretty selfish and morally bankrupt thing to do to people on a fixed income.

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im in central Florida, Tampa Bay area

[Winkk]

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@lgfan wrote:

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@Mom2Dogs wrote:

I have heard that large corporations are also buying up homes in other area...personally I think it is wrong...once they purchase the prices skyrocket.

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I read that corporations are buying houses they then demolish them and then build condomoniums in their place.  This way they can sell more units and make a greater profit.

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@lgfan @Mom2Dogs -- I recently read an article that said this was one reason why there is a housing shortage.  And, houses that are being built are so high priced very few people can afford them.

[Snowpuppy]

The trouble is in a development with older mfg housing like trailers and modulars, many won't survive the move, even if you can afford it. Modulars are anchored to a foundation.

I was reading that many new park owners in Florida were offering Cash for Keys like 2008. The sooner you vacate your mobile, the more cash but offers I saw were typically less than $2,000. That won't get you far.

Seniors are the fastest growing population of homeless.

[FLtricia]

@smoochy  i'm on the east coast.  Port Orange area.

[shoekitty]

I was greatly surprised at the cost of mobile home living, and some HOA fees.  No kiddin'.   My BFF in Oregon, bought mobile home outright 2 years ago.  They get a lot of fees now.  Plus, the fee for lot went up .  She thought she would reduce her costs by moving.   She was renting apt in California for almost 4,000.  Circumstances reduced her income...now she says between some kind of extra tax, the lot fee and maintanence. She could have stayed in CA

[Mom2Dogs]

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@Winkk wrote:

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@lgfan wrote:

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@Mom2Dogs wrote:

I have heard that large corporations are also buying up homes in other area...personally I think it is wrong...once they purchase the prices skyrocket.

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I read that corporations are buying houses they then demolish them and then build condomoniums in their place.  This way they can sell more units and make a greater profit.

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@lgfan @Mom2Dogs -- I recently read an article that said this was one reason why there is a housing shortage.  And, houses that are being built are so high priced very few people can afford them.

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We must have read the same article!