This year marks 10 years since the Center launched. When our organization was founded, New York was a different place. As the city reeled from the impacts of the foreclosure crisis, city leaders in government, the nonprofit sector, finance, and philanthropy came together to found the Center. At its launch, it was the largest independent […]
After her mother died, Jennifer Merin was left with the Laurelton, Queens, home that her family had lived in since it was built in 1930. Though it was not her primary residence, Merin described the home as a “sanctuary to my family.” It wasn’t until 2014, when she saw a large increase in her water […]
Breakfast Briefing: Affordable Homeownership in NYC When: Tuesday, May 8 at 10 am Breakfast and coffee will be served Contact caroline.nagy@staging.cnycn.org for further information & questions. This year marks the 10th anniversary of the foreclosure crisis, which irrevocably reshaped the lives of hundreds of thousands of New York homeowners, renters, and their neighborhoods. Ten years […]
East Flatbush, Queens Gardens, and Kew Gardens have been hardest hit with foreclosure and house flipping, with over 40 percent of homes flipped in foreclosure prior to being placed on the market. (Read the rest of the article on Metro USA)
House flipping helps to exacerbate gentrification in New York City’s most affordable neighborhoods. In fact, flipped houses in NYC are three times more likely to be in foreclosure at the time of purchase, often due to deceptive solicitations of homeowners from investors. This further deprives non-professional buyers from the opportunity to bid on homes as […]
House flipping in New York City has drawn investors who target homeowners in foreclosure as a means of racking up quick profits in gentrifying neighborhoods. Today, the Center is shining a light on how speculative real estate practices in the small home market are depriving New Yorkers of badly needed opportunities to find affordable housing. […]
Are you thinking of buying your first home? Becoming a homeowner can be an exciting, rewarding prospect, but it’s not without risks. Here are some of the benefits and drawbacks of homeownership. Benefit: You’re No Longer a Renter Sick of dealing with a landlord? When you’re a renter, you can find yourself facing rent increases, […]
The road to homeownership is a complicated, challenging experience for anyone. Sometimes it makes sense to turn to a professional who can help guide you along the way — a housing counselor. Housing Counseling for the Entire Homeownership Cycle Housing, financial, and legal counselors are primarily non-profit professionals who provide a wide range of services […]
Each year, the Department of Finance sells the liens of properties that have unpaid debts — including property taxes, water bills, and other charges — that can result in an increased financial burden for families already behind on their bills. Once a tax lien is sold, a third-party collection agency can add fees and high […]
Behind houses sold by well-coiffed brokers on shows like the popular reality TV series Million Dollar Listing is a much more complicated story: the rise of house flipping throughout New York City that can push affordable homeownership out of reach of most families. A new BuzzFeed News investigation published last December explores the rise of […]
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