Tenants March to Stop Giveaways to Wall Street Landlords
While Republicans are proposing severe cuts to low-income housing assistance, they are continuing to subsidize Blackstone and other private equity housing profiteers.
It was a brutally hot and humid day in the nation’s capital and Margie Mathers needed a cane to get up to the podium, but the Florida senior had a story she was determined to tell.
“When I moved into our manufactured housing community in North Fort Myers, it was a beautiful, peaceful place,” Mathers told the crowd of around 1,000 activists who’d converged on the city for a July 13 Tenant March on Washington. “Now I have neighbors who are really struggling. They’re taking their medications every other day instead of every day and not eating the food they need to be healthy.”
What changed? Her development had been purchased Equity LifeStyles Property Inc., a private equity firm specializing in developments where residents own their trailer homes but rent the land under them. This new landlord quickly jacked up Mathers’s monthly rent to $630, from $230 just four years ago.