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IPFS News Link • Housing

Private Equity Vultures Target Trailer Parks, Hiking Rents And Neglecting Repairs

• Zero Hedge

While Blackstone may be preparing to snap up some $50 billion in real estate during the coming crash, a constellation of out-of-state institutional investors, led by private equity firms and real estate investment trusts, have been swooping in to buy mobile home parks - where they've been raising rents and neglecting to perform necessary repairs.

In short, corporate vultures are taking advantage of one of the most vulnerable demographics in the country; some 22 million low-income Americans across 43,000 communities - many of whom are elderly and the disabled who are surviving on social security, disability payments and other forms of fixed income, according to the Associated Press.


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