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Land of Enchantment Manufactured Home Owners Alliance
(opens in a new tab)An alliance of New Mexico manufactured & Mobile homeowners and housing advocates working to protect and preserve affordable communities.
Imagine that thousands of residents of conventional subdivisions owned $100,000 or $150,000 houses, but a separate investor could buy the ground underneath the entire subdivision, substantially increase what every homeowner had to pay to remain there, and potentially making their houses economically worthless if they couldn't pay.It would be recognized IMMEDIATELY as a homeownership crisis.But when low and moderate income working families and elderly people put their life savings into their home in a lot-lease community and private equity and out-of-state investors buy their community land, lawmakers turn the other way.
Here is the fundamental question:Should someone be able to buy the land beneath your home and then use the fact that you cannot move your home as leverage to charge you more?If the answer is no, then we need laws that say so.
When a landowner can leave residents without basic utilities for months and then raise their rent, the market is not working. And when the market fails, lawmakers have a duty to repair the system.
Thank you, Congressman Vasquez!
Rep. Gabe Vasquez Calls for Hearing to Protect Manufactured Housing Communities from Private Equity
vasquez.house.gov
WASHINGTON, D.C. – U.S. Representative Gabe Vasquez (NM-02) called on the House Financial Services Committee to hold a hearing on institutional investors’ impact on Manufactured Housing Communitie...
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