Seniors are the fastest growing demographic in New York City, and many are homeowners living on fixed incomes. As housing costs have risen, it has become increasingly difficult for seniors to afford aging in place. That’s why the Center has been at the forefront of addressing these challenges with its Senior Initiative. Funded by the […]
No Funding to Continue Nonprofit Housing Counseling and Legal Services in Executive Budget Statement from the Communities First coalition in response to Governor Cuomo’s executive budget address: “For New York homeowners, there was one devastating omission in Governor Cuomo’s executive budget: funding to continue essential, free nonprofit housing counseling and legal services to New Yorkers […]
Investor home purchases have not only doubled since the foreclosure crisis but represent the nation’s largest landlords of single-family homes in the nation. “Investors” are defined as individuals or companies that purchase homes to profit from them by flipping them, converting them into rentals, or holding them for the purpose of storing and building wealth […]
Affordable homeownership is a key building block of a more inclusive and equitable New York that cuts across socioeconomic, racial, and ethnic boundaries. Working- and middle-class communities depend on homeownership as an engine for economic mobility — and with vast economic inequality in New York City, preserving affordable homeownership is more important than ever. Our […]
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@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. […]
Our Sites
