Archive

Posts Tagged ‘LA Times’

California Dreamin’ – Another Manufactured Home Community Under Siege

April 7th, 2017 Comments off
CaliforniaDreaminAnotherManufacturedHomeCommunityUnderSiegecredtiGoogle1-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Google.

In the Little Saigon area of Westminster, California, the Green Lantern Village & Mobile Home community has served as an affordable beacon, including veterans of the Vietnam War.

Now, its days may be numbered.

According to the LA Times, property owner Walsh Properties LLC informed residents last week about plans to apply for a new land use permit that would allow for development. About 100 residents filled the community’s clubhouse to learn more about the plans.

Then they got a surprise.

Residents say they were told that the property was already in escrow in preparation for its sale, and that they may be forced to move out by early 2018, once the owner complies with local and state regulations, including holding a public hearing and providing services to residents.

I feel frozen. I can’t think,” said resident Mai Luu. She moved into the community in 1989.

We were refugees. We will be adrift again.”

Eighty percent of the community’s residents are Vietnamese-American, and say they would be priced out of the Orange County housing market.

CaliforniaDreaminAnotherManufacturedHomeCommunityUnderSiegecredtihomes-postedtothedailybusinessnewsmhpronewsmhlivingnews

A home in the community. Credit: Homes.

Ross Bartlett, a member of the family that owns the community, was in attendance at the meeting, along with staff from Overland, Pacific & Cutler Inc., an Irvine-based relocation specialist. The company will interview each family to document their moving needs before submitting a report to the city.

Our family has been considering selling the property for the past decade,” said Bartlett.

My grandfather bought the property at the end of World War II. In order to continue to operate, we would have to rip up roads inside the park and lay new electrical, water and sewer lines on the property at an estimated cost of $3 million, which the family cannot afford.”

CaliforniaDreaminAnotherManufacturedHomeCommunityUnderSiegecredtiGoogle2-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Google.

For some residents, the idea that this had been a decade-long thought process did not sit well.

I feel betrayed,” said resident David Griffin.

They intended to sell the whole time — so why bother to have us together today? If they don’t give me fair market value for what I have, I don’t know what I will do.”

Resident Nghia Bui says that he does have a plan.

“I plan to stage a protest as the permit process winds it way though City Hall,” said Bui, who created a flyer, advising immigrant residents of what to say in protest: “We are old; we are poor. Changing the land is changing my living. Please don’t.

No one wants to leave here,” said resident Son Do. “New people moved in just months ago, others just a few years ago. What choices do they have? How does anyone find a safe and affordable place in Orange County?

As residents wait for the next steps, some say their stress levels are higher than ever.

We can’t sleep,” said resident Nhi Tran.

In my mind, I’m thinking: What about my job? What about finding a new school? But we are young — we worry for the older people. They have no place to go, no one to turn to.”

MH Industry Perspectives On Like Issues 

As this scenario continues to play out in the U.S. and Canada, the thoughts shared by ROC USA President Paul Bradley are relevant.

 

paul bradley roc usa founder fosters.com cedit

Paul Bradley. photo credit: Fosters.

How can we promote homeownership and sell new homes on leased land and at the same time close communities?” Bradley questioned.

It’s like selling tickets to a zoo where ‘only 1 in a 100 are eaten by the lions!’”

One way to address this is to segment true homeownership land lease communities and differentiate it from traditional ‘parks’ where closure remains a risk, not a certainty but a risk.

Georgia Manufactured Housing Association’s Jay Hamilton sees it differently.

One of the biggest reasons that a Manufactured Home Community Owner sells his property is that over time property taxes increase four and five-fold.  But the owner can’t economically escalate the lot rent quick enough to keep up.  Or the resident could not afford to live there if they did,” said Hamilton.

jay-hamiltong-executive-director-georgia-manufactured-housing-association-gmha-posted-mhpronews-com1-1

Jay Hamilton, Executive Director, Georgia Manufactured Housing Association.

As communities become surrounded and engulfed by restaurants, Hilton Hotels, stadiums, big box stores, airports, residential and commercial developments – property taxes begin exceeding the total revenue from renting spaces.” ##

(Image credits are as shown above.)

(Publisher’s note: The content following “MH Industry Perspectives On Like Issues” was added on 4.12.2017 for clarity, based upon industry reader feedback, which we hereby thank those who suggested that was useful for this article to enhance the balance of the narrative.)

rcwilliams-writer75x75manufacturedhousingindustrymhpronews

RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

Cordray Defiant, Says Trump Won’t Change Agency

January 28th, 2017 Comments off
CordrayDefiantSaysTrumpWon’tChangeAgencycreditLATimes-postedtothedailybusinessnewsmhpronewsmhlivingnews

Richard Cordray walks into a Treasury hearing. Credit: LA Times.

Consumer Financial Protection Bureau (CFPB) Director Richard Cordray has finally spoken in the wake of President Trump’s inauguration, per the LA Times.

And he’s not pulling any punches.

The new administration really shouldn’t change the job at all,” said Cordray at a forum held by the Wall Street Journal.

 

We’re expected to work with different administrations of different points of view. We have … an independent mandate to do what we do and we will continue working to protect consumers.

Cordray has said in the past that he has no intention of stepping down. His term ends in 2018.

As Daily Business News readers are aware, the Trump Administration has sent clear signals that Dodd-Frank is in the crosshairs for parts of the legislation to be rolled back, or repealed.

GOPSenatorstoPresidentelectTrumpFireCFPBHeadRichardCordraycreditTwitter-postedtothedailybusinessnewsmhpronewsmhlivingnews

A tweet from Senator Bob Sasse.

After the election, Republican Senators Bob Sasse (Neb.) and Mike Lee (Utah) penned a strongly worded letter to then Vice President-elect Mike Pence, urging then President-elect Donald Trump to remove Cordray.

It’s time to fire King Richard,” said Sasse.

Underneath the CFPB’s Orwellian acronym is an attack on the American idea that the people who write our laws are accountable to the American people. President-elect Trump has the authority to remove Mr. Cordray and that’s exactly what the American people deserve.”

The Daily Business News has also followed the CFPB saga closely, including their involvement in the Wells Fargo case and a D.C. circuit court ruling that deemed the organization unconstitutional due to it’s lack of independent oversight.

Senator Mike Lee touched on the importance of the unconstitutional ruling.

The Constitution was written to protect the American people from unelected and unaccountable bureaucrats, said Lee.

Considering the damage CFPB has done to credit unions and community banks, President Trump should act quickly to remove the director.

CFPB Dir. Richard_Cordray_c-span2__credit postedDaily BusinessNewsMHProNews

Credit: CSPAN2.

Within a week of the letter from Sasse and Lee, Democrats came to Cordray’s defense.

Do not tell Richard Cordray he’s fired,” said Senator Chuck Schumer (NY).

CarsonApprovedbySenateCommitteeProvidesViewonMHcreditSherrodBrownOfficialPhoto-postedtothedailybusinessnewsmhpronewsmhlivingnews

Senator Sherrod Brown. Official photo.

Firing Cordray might be part of the billionaire agenda, but removing him and gutting the consumer bureau would shatter Trump’s promise,” said Senator Sherrod Brown (OH), who is the ranking Democrat on the Senate Banking Committee.

Senators Schumer and Brown have now been joined by Rep. Maxine Waters (D-Los Angeles) and 37 other members of the Congressional Black Caucus in the effort stop action on Cordray.

In a letter to President Trump on Tuesday, they wrote that they “would strongly oppose” any attempt to remove Cordray and “would view such an action as an illegitimate abuse of power.

Director Cordray has done nothing to give the necessary cause for his removal from office,” wrote the lawmakers.

CordrayDefiantSaysTrumpWon’tChangeAgencycreditWikipediaMaxineWaters-postedtothedailybusinessnewsmhpronewsmhlivingnews

Representative Maxine Waters. Credit: Wikipedia

Communities of color and, indeed, all consumers in America will benefit from having director Cordray remain in his position and continue to independently implement the mandates imposed upon him by Congress as the director of the CFPB.

While the CFPB is credited with taking actions to protect consumers, most notably in the Wells Fargo case, those who have followed the history of the CFPB understand that the CFPB was not the lead agency in the case and during the time the events took place in 2011, the CFPB charter basically only allowed it to police the activity of big banks.

It did not catch the Wells Fargo activity at that time.

 

CFPBmanufacturedHousing-polititcalCartoon-c-2016LifestyleFactoryHomesLLC-LATonyKovach-575x355

Parody of CFPB logo – credit, Plus 1 Properties. Cartoon credit, MHProNews.

Cordray also commented about whether he would fight an attempt by Trump to fire him.

nortpointcommecialfinance_manufacturedhomelending200x200new6

MHProNews Sponsor, for more information, click the banner above.

I was nominated and then confirmed by the Senate to serve a term,” said Cordray.

All the independent federal regulatory agencies have terms that overlap one administration or another. That’s meant to preserve their independence.

That’s important because without the independence you end up mired in partisan politics, the big-money special interests … will try to dictate results.

For a deep dive into the CFPB, Dodd-Frank and their adverse effects on the manufactured housing industry, click here. ##

 

(Image credits are as shown above.)

rcwilliams-writer75x75manufacturedhousingindustrymhpronews

RC Williams, for Daily Business News, MHProNews.

RC Williams, for Daily Business News, MHProNews.