HBO's John Oliver Details How Private Investors Are Threatening the Fate of Manufactured Housing
Late night television host John Oliver took aim at the threat private investors are bringing to the manufactured housing industry on Sunday during his show Last Week Tonight. Oliver cited research statistics from Prosperity Now Senior Director of Affordable Homeownership Doug Ryan to outline the need for owners of manufactured homes to pull resources within their communities to build their own housing parks. Doing this would mean homeowners could bring an end to chattel home loans, and the threat of being displaced when private investors purchase the parks where their homes are placed.
Watch the full segment below.
Advocacy and improvement of financial security and housing stability of homeowners in manufactured and mobile home parks is a core component of Prosperity Now’s Innovation in Manufactured Homes (I’M HOME) initiative. Even though there is a growing movement of resident- and nonprofit-owned parks across the nation, 98% or so of all manufactured housing communities are privately owned. Many owners, including local, small operators care about the residents’ well-being and operate the parks in ways that reflect that.
However, there is a growing trend of national investors and operators entering the community market. Too often these entities and investors are disconnected from the communities, have short- to mid-term financial goals and significant influence on local policymakers.
With such partners as ROC USA and the National Consumer Law Center, Prosperity Now and the I’M HOME Network is improving local and state protections for resident, enhancing the rights of resident groups to purchase and preserve their communities and raising awareness on the consequences of what happens when unregulated and distant investors see established communities in the same return-focused way as self-storage facilities.
Please join our efforts to strengthen protections and resources for residents and advocacy groups in manufactured housing areas by doing one, or more, of the following:
- Join our I'M HOME Network
- Learn more about our I'M HOME Conference
- Use our Manufactured Housing Toolkit