HBO’s latest episode of Last Week Tonight with John Oliver unpacked the predatory nature of investors sweeping in on the financial accessibility of mobile homes.
According to the segment, roughly one out of every 18 Americans live in a manufactured/mobile home, as they cost an average of 50% less than conventional houses. However, investors and private equity firms have been horning in on the industry and snapping up mobile home lots because about a third of those who own their mobile homes do not own the land it occupies. The sharp increases in lot raises being made by the investment firms are completely negating the main selling point of these homes.
Oliver notes, “Usually when someone is that contemptuous of poor people, they are immediately visited by the Ghost of Christmas Future.”
Invest in the full segment below.