December 26th, 2008

Hat

Good News

From Fred Clarke we learn some people will be able to stay home for the holidays.

In early January ... about 500 residents of Bellwood Mobile Home Park will put in an offer to buy the land their trailer park sits on in Bells Corners. If the offer is accepted, the well-established community will not be uprooted and displaced as feared. ...


Big Win. Trailer parks are problematic. They, often, pretend to offer home-ownership, but the quirks of most people not owning the pad on which the home sits means the investment (in the home declines) while the owner sees the investment in the land appreciate. They get equity, and rent.

If one should be sold the cost of moving the homes to new pads is often too costly; and the depreciated value of the home isn't enough to get a loan to cover the cost. By being able to buy the property changes all of that.

It also improves the community at large. One of the things which home-owenership allows is for people to move up the ladder. By being able to sequester money they can pass things along to their children (in the form of education, and at death a huge pass-along of capital). It also adds stability, which makes local business more secure.

Frabjous Day.