Securing the Opportunity of Manufactured Housing Through Resident Ownership
Manufactured homes are an important source of unsubsidized affordable homeownership: the resident owns their unit and leases the land beneath it from a landowner. However, many manufactured home communities have been recently displaced when park owners sell increasingly valuable land to developers.
In some states, “Opportunity to Purchase” legislation allows manufactured housing residents the right to purchase communities and secure housing, stability, and the chance to build home equity for the residents. While this legislation can be a powerful tool for residents to purchase their communities, the law varies across states in terms of protection and enforcement.
We learned more about threats to the wealth-building potential of manufactured housing, explore the opportunities and challenges presented by “Opportunity to Purchase” legislation, and hear an example of how residents in Massachusetts benefitted from this legislation to purchase their own community.
- Doug Ryan, Prosperity Now
- Carolyn Carter, National Consumer Law Center
- Michael Scarlett, Colonial Estates, Inc.