RT has the episode Are Americans living the ‘American dream’ in rented trailer parks? RT’s Keiser Report finds out.
Roughly 1 in 15 Americans live in so-called trailer parks which are shorthand for poverty, according to a report by the Financial Times. Most of them are part of households earning less than $50,000 a year.
RT’s Keiser Report looks into the problem where many Americans have to pay rent for the land underneath their own trailers while traditional mortgages on such properties aren’t available.
The actual details are much more horrifying than the above summary hints. Then the report talks about China, which is just as scary.
This gets two OMGs from me. It does talk about an “investment” “opportunity” that I have been missing. I think I will do a better job of staying away from this one than I did with Collateralized Debt Obligations that led to the economic crash of 2008/2009. The other OMG is about China.
Sometime the Keiser report is equal part information and craziness. This one is very low on the craziness scale and high on the information scale. If the thought of watching something on a Russian supported medium is too much for you to bear, then you won’t know what is hitting you when it does.
May 26, 2019
When I heard Max Keiser mention KOA in the discussion of mobile home parks, I thought he had just picked a wrong company to mention. Then I decided to do a little research. Here is the first clue I stumbled across – Golden Rule Koa Mobile Home Park.
The Google search KOA “mobile home parks” may not be the best, but there are additional hints here.
Then there is the Forbes article 7 Powerful Benefits To Mobile Home Park Investing. The early 2000s purveyors of real estate derivatives backed with liar loans didn’t ask “What could possibly go wrong?” They had back tested the theory of their investments using decades of real-estate mortgage history. There would have to be a rate of mortgage default unheard of in history before the CDOs would run into trouble. What they didn’t account for was that history was built in an era of high standards in mortgage underwriting. The very product these purveyors were inventing would smash those standards to bits. Is there a similar route to disaster in large scale investing in mobile home parks?