Using Section 8 vouchers to buy a mobile home is going to succeed just about as well as no doc loans to buy a site built house. In far too many instances, it won’t be maintained, the payments won’t be kept up, there will be no equity because of depreciation due to the undesirability of the neighborhood. Even Section 8 people looking to buy won’t want to live with a bunch of Section 8 people, otherwise they’d be content where they are. This has boondoggle written all over it, I just have to wonder who benefits. Somebody does, it’s just not the people buying these things. No love lost on the mobile home manufacturers either, I suspect. So, look to finance and government in collusion for the culprits, as usual.
“This has boondoggle written all over it.”
Warren Buffett’s Berkshire Hathaway owns two of the largest mobile home manufacturers — Clayton and Oakwood. Buffett was a big Obama supporter. This new policy was just announced by the federal government. Given the government doesn’t move quickly, and Trump’s HUD secretary pick is still awaiting confirmation one might suspect this new program is a payoff to Buffett.
The devil is in the details. Are these going to be quality units placed in communities with good infrastructure or cheaply constructed units which will create suburban and rural blight like so many cheaply built apartment built in recent years and filled with Section 8 recipients?
Remember it was the policy of the Obama administration to use Section 8 housing to change the culture and character of communities. Mobile home parks can be quick and inexpensive to build. Within a year farm acreage can be transformed into acres of hundreds mobile homes crammed in rows on tiny lots. Roads in these hastily constructed communities can be dirt or gravel, not paved. In a few years poorly constructed dwellings, accessed by washed out roads, serviced by inadequate septic systems, and filled with unassimilated refugees on government assistance becomes a ghetto filled with angry idle people ripe for exploitation by community organizers.
Dotting rural America with thousands of mobile home parks filled with hundreds of thousands of refugees is one way to change voting patterns in flyover country.
section 8 housing is directly related to the old army section 8 discharge-—the one for the mentally challenged.
...I just have to wonder who benefits...
It reads, to me, like some investors bought themselves some media.