An investigative feature published by the New York Times has uncovered a previously unreported aspect of Bill Pulte’s portfolio: ownership of five trailer parks in Florida that are in various stages of disrepair.
The trailer park investments were not highlighted in the financial disclosure form that Pulte submitted during his confirmation hearing to become director of the Federal Housing Finance Agency. In that disclosure form, Pulte only listed his ownership of the parent companies of the subsidiaries that purchased the properties in 2023 and 2024 for $3 million.
A spokesman for Pulte claimed that he only owned “passive shares” in the properties, although documents show he was the signatory on a $2 million mortgage taken out on three of the properties in August 2024.
In a January 2024 podcast interview, Pulte said he was buying mobile home parks with the goal of renovating them to meet the rental housing shortage in Florida. But the Times’ investigative piece found Pulte raised rents at the properties after his acquisitions – one resident at a trailer park in Cottondale said his monthly rent increased to $950 from $550 after Pulte’s company assumed ownership. Rents were also hiked at another trailer park by $100 a month to pay for a new dumpster.
Higher rents did not translate into improved services. One tenant claimed it took months to replace a broken stove while another tenant spent $300 of his own funds to repair his broken air conditioning unit after management ignored his requests for help.
The Times also found that three of the parks were poorly maintained to the point of derelict status.
“Recent visits to two of the mobile home parks revealed a broken fence and overflowing trash bins,” said the Times’ report. “The dozen or so trailers at the parks were aging. Some had windows covered with faded American flags and cardboard. Duct tape patched torn screens.”
While I’m not a Pulte fan I hate to see a Trump administrator create so much controversy. There is a sense of “corporate greed” with many trailer parks across our country. Many residents are being priced out due to skyrocketing lot rent increases. Many trailer parks lack good maintenance and grounds care. Most trailer parks house some of our working to lower class citizens. Of all people to target ruthlessly it’s shameful. Of all the pledged billionaire monies to charities by the likes of Buffet, Gates, Bezos, etc why haven’t they formed a giant consortium to buy trailer parks, renovate them and keep the lot rents low so as to give these people a financial break? That’s working charity and solves housing problems that people like Pulte create or perpetuate.
would not count on the men you mention working together. very different points of view. The person that owns them needs to take care of the problems.
The more I know, the less I like Bill Pulte. Add slumlord to his list of titles. Shameful. What’s that quote about people who live in glass houses….?
Pulte is just another crook getting rich on the backs of the poor.
Oh my! Bill buying trailers is like the Walton family shopping at Target. I’ve been through Cottondale, FL several times. It’s a rural area with people that are the backbone of the USA. Taking advantage of these tenants is downright sickening. Bill should have to spend 24 hours living in Cottondale in one of his POSs. It might adjust his attitude some.