Krystal and Saagar cover the massive increase in trailer park rents being caused by private equity entering the mobile home market leading to major issues for longtime homeowners
As a 30 year old still renting, these housing segments are always so demoralizing. I appreciate the honest reporting, don’t get me wrong. It’s just seeing the veil pulled back on all the lies I was told growing up. I always thought I’d have a house by now. I thought I’d have kids and a family of my own. These ghouls have made it unaffordable. They stole that from this and future generations and the government just stood by and let it happen. Helping, even, in some cases.
The first mobile home I sold as a realtor was the beginning of the year, since then, the cost of the land lease at that park has increased by about 200-300 per month. It’s not sustainable. These are our seniors, it makes me sick. This country is being ran by very indifferent, and sick individuals.This happened to a friend of mine. She is very low income and the mobile homes in her park are literally glorified shacks. A big company bought the park and doubled the rent. Residents are moving in with each other just to make ends meet. It is criminal that big companies are gouging poverty stricken people.I am not surprised at all. I personally know people who are experiencing this. Private equity is deadset on ensuring that no one other than them is able to own their own homes or land. If they are not already, they will be targeting RV parks next. Absolutely nowhere is safe from what can only be described as the cancerous growth that is private equity.Rents are getting crazy. Moreover they’re now actually charging renters for things that previously were always just things the landlord just did. My friend showed me his lease, if lightbulbs in hallways go they charge $40 to replace them, if you need your toilet snaked it’s $30, and so on. I swore that those things we’re the landlord’s responsibility anyway, and in some cases they are. What they do is charge for them and if someone wants to fight it to the point that they’re willing to go to court, they might win but when the lease is up at the end of the year the “properly management” entities (ie these investment companies) will either jack up the rent or just decide not to renew it and the renter has to leave. It’s disgusting and i believe may be the proverbial Straw that breaks the camel’s back. This is unsustainable. I have two different friends that are currently living in tents. Both have jobs, they’re don’t have mental health or substance abuse issues or any other of the usual reasons that are behind being homeless; they just flat out can’t afford to rent anything that’s available. The reason that this has been on mind is because unless SOMETHING changes in my own situation, there’s a high likelihood that come this October I’ll be setting up camp right next to them.I felt this recently. Two years ago I was priced out of a home. Then last year I started looking at a mobile or manufactured home, because it’s time I own something. Well I got priced out again and people are outbidding each other on piece of crap mobile homes going over +200k.You can’t have the American dream. But you can rent it… For a little while.so many of my clients are in this position. Lot rents 700-1200 just for space with extremely high criteria to meet in order to qualify. It’s so unfair for a specific portion of the population that struggles to get by
Ms. Yellen has a possibility of being renominated, according to this consensus, but it is only 22 percent; experts think that Kevin Warsh, a former Fed governor with deep Republican ties, has a slightly better chance at 23 percent.
.. The case for renominating Ms. Yellen is straightforward.
She has presided over four years of steady economic expansion and rising financial markets. She moved cautiously toward raising interest rates even though the economy seemed to be approaching full employment. By contrast, some more conservative contenders for the job have indicated they want to raise rates more quickly, which could endanger the economy as President Trump approaches midterm elections in 2018 and a potential re-election battle in 2020.
.. Moreover, as President Trump dabbles in making deals with Democrats, reappointing Ms. Yellen could serve as an expression of good faith to Democratic senators. As administration officials focus on tax legislation and other priorities on Capitol Hill, it might be helpful to them to nominate someone who might sail through confirmation, rather than demand a bruising, time-consuming battle.
.. The case against Ms. Yellen is similarly straightforward: She is a liberal economist in a government dominated by conservatives. She is a cerebral academic serving during the presidency of a bombastic businessman. And she is a staunch defender of the work the Fed and other bank regulators have done to try to limit risk in the financial system — including in a high-profile speech last month — amid an administration focused on deregulation.
Kevin Warsh: well connected, but with baggage
He has a law degree, but no advanced degree in economics.
.. Mr. Warsh has been a skeptic of the Fed’s efforts to boost the economy through quantitative easing and has advocated raising interest rates more quickly. He also has a regulatory philosophy more in line with the administration’s.
.. Mr. Warsh’s father-in-law is Ronald Lauder, of the Estée Lauder cosmetics fortune, a major Republican donor with longstanding ties to Mr. Trump.
.. If Mr. Warsh is nominated, expect significant blowback during the confirmation process from Democrats, who are likely to accuse the 47-year-old Mr. Warsh of being underqualified, of being responsible for the 2008 bank bailouts and inclined to regulate banks too lightly now, and of being too overtly political for the traditionally nonpartisan Fed chairmanship... Democrats would be eager to criticize the administration for naming a recent top executive at Goldman Sachs to be the nation’s most powerful financial regulator. Some populist Republicans might join them... Foremost among them are several of the names we would probably be hearing about if a conventional Republican president were in the White House.. John B. Taylor is a respected economist at Stanford who worked in the George W. Bush administration and has been an influential voice among congressional Republicans who want to see the Fed bound by stricter rules governing its actions.
Glenn Hubbard was a top economic adviser to Mr. Bush who is dean of Columbia Business School.
Larry Lindsey was another top adviser to Mr. Bush and a former Fed governor with an economics doctorate from Harvard.
.. Their doctorates and affiliations with top universities may actually be downsides in an administration that has shown disdain for academic expertise... other names has emerged in various reports, including the F.D.I.C. vice chairman Thomas Hoenig and John Allison