Why Wall Street is spending billions to buy mobile homes, one of US’ last affordable housing sources

Some top investment firms like the Carlyle Group, Blackstone and Apollo Global Management are spending billions buying trailer parks. Photo by Joggie Botma/Shutterstock.

An estimated 22 million Americans live in mobile homes. The industry term is “manufactured housing.” They’re one of the largest remaining sources of affordable housing in the U.S. Naturally, Wall Street is interested. Some of the top investment firms like the Carlyle Group, Blackstone and Apollo Global Management are spending billions buying trailer parks. In many cases, that means higher rents, stricter rules, and more evictions.