US EditionPrivate equity is turning mobile homes into health hazards. What can governments do?
- Tenants in manufactured housing parks owned by Homes of America, including a class action lawsuit in Elkins, West Virginia, face dangerous living conditions and health risks.
- Approximately four years ago, these parks were acquired by a company owned by Alden Global Capital, an investment firm notorious for aggressive acquisitions and focusing on regions with minimal tenant legal protections.
- Researchers documented water contamination involving heavy metals, nitrates, and fecal matter at five Homes of America parks, causing residents to spend up to $200 monthly on bottled water.
- Inspection records cite 20 units unfit for habitation, while tenants report collapsing floors, vacant trailers, and possible plans by Homes of America to empty parks for redevelopment.
- Experts emphasize the need for stronger housing standards, tenant protections, community ownership, and government partnerships to limit corporate speculation and address abuses by private equity owners.
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Private equity is turning mobile homes into health hazards. What can governments do? | News Channel 3-12
Private equity is turning mobile homes into health hazards. What can governments do? Four years ago, Valeria Steele’s West Virginia mobile home park was purchased by Homes of America, a subsidiary of well-known “vulture fund” Alden Global Capital. The private equity giant has become infamous for buying distressed newspapers, cutting staff, offloading assets and loading them with debt. “They don’t make any attempt to sell them,” Steele says. “The…
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Private equity is turning mobile homes into health hazards. What can governments do?
Next City reports on new research showing health impacts of private equity buying manufactured housing—and offers some policy-based solutions to protect residents.
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Leaning Left3Leaning Right0Center39Last UpdatedBias Distribution93% Center
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- 93% of the sources are Center
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C 93%
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