On today’s episode of Ownership Matters, we’re joined by Financial Times’ Global Business Columnist and Associate Editor Rana Foroohar to talk about two articles she wrote about manufactured housing communities for the Financial Times. In this episode, Rana shares her perspective on Resident Owned Communities and talks about her visits to two ROCs as part of the research she did for her articles.
Episode Title: Resident Ownership Goes Global with Rana Foroohar
Welcome to today’s episode of Ownership Matters, a podcast for homeowners in resident owned communities brought to you by ROC USA. With hosts, Paul Bradley and Mike Bullard, they share their conversations with community leaders, cooperative housing advocates, and leaders from across the manufactured housing industry.
Today, Paul and Mike sit down with international business journalist, Rana Foroohar. Author of various notable articles for the Financial Times on manufactured housing, Rana has seen first-hand what it means to be part of a resident owned community by visiting the Clackamas River Community Cooperative located in Portland, Oregon. Additionally, she is also CNN’s global economic analyst and author of the popular books, “Makers and Takers: The Rise of Finance and the Fall of American Business” and “Don’t Be Evil: How Big Tech Betrayed Its Founding Principles And All of Us” which earned the title of Porchlight Business Book of the Year in 2019. Prior to her work at CNN and Financial Times, Rana spent 6 years as an assistant managing editor and economic columnist at Time, as well as 13 years at Newsweek as an economic and foreign affairs editor and foreign correspondent.
Our hosts begin by asking Rana about how she came to be where she is today and what drove her interest towards manufactured housing communities. Surprisingly, she shares that her journey started down an entirely different path as a pre-med student. When that didn’t work out, Rana jokes saying that “failure can be a great teacher.” With a lifelong interest in reading, she shifted her focus towards becoming an English major and after graduating, became engrossed in all that the world of journalism had to offer.
Rana goes on to share a personal anecdote about how her son’s interest in cell phone games ultimately led her to further analyze exactly how capitalism works. In doing so, she has gained knowledge over the years not only about the manufactured housing industry, but about the residents who live there. She explains that while non-homeowners and renters are considered more vulnerable members of our communities facing both housing inequality and income inequality, people from all walks of life are not only residing together in these co-op communities, but thriving together. They’ve created a community based on shared ownership and Rana gives examples of neighbors providing support for one another in the form of shared elder care, yard work, or shared child care.
Rana believes that these community led efforts will continue to expand not just in the United States, but globally. She advocates a need for the overhaul of the current system and to have it replaced by an entirely new model that doesn’t enable only a small percentage of people owning the vast majority of assets.
The episode concludes with Mike and Paul asking what’s next for Rana. She reveals that she’s in the process of writing her third book to be released in the fall of 2022 titled, “The Homecoming.” As Rana bids listeners goodbye, our hosts take a few moments to debrief and reflect on everything shared today including their hopes for a future that supports those working for the betterment of their communities.
Find out more about ROC USA here.
Learn more about Rana Foroohar on her website.
Article “Why big investors are buying up American trailer parks” by Rana Foroohar for the Financial Times
Read news articles by Rana Foroohar.
Purchase Rana’s book Makers and Takers: The Rise of Finance and the Fall of American Business
Purchase Rana’s book Don’t Be Evil: How Big Tech Betrayed Its Founding Principles And All of Us
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