Land Prices are Getting Rid of Mobile Homes

Las Vegas Real Estate

 

Land prices, as you may be aware, have increased significantly in the Las Vegas area. As the plans progress for the seemingly countless number of high rise developments come to fruition, land that has provided affordable housing for so long to those in mobile home parks is now catering to those who aren't looking for affordable housing.

For example, a mobile home park on Tropicana was recently sold to Alkimya Investment LLC for @120 million, according to a June 2005 article in the Las Vegas Review Journal.

 

In 2004, two parks with a total of 135 spaces closed. This year, 10 parks have closed down and three more are expected to close by December, according to the same article.

Although property owners can choose to sell their property to anyone they wish, it creates a dilemma to local governments in providing affordable housing.

 

Packer, Adrienne. "Land Prices Squeezing Out Mobile Homes." Las Vegas Review Journal 13 June 2005 : B1+.