Items Tagged with 'New York'

ARTICLES

  • Trump’s housing-finance plan aims to curb GSE lending in areas with rent control

    “This is the Trump administration against the blue states,” says Raymond James analyst
    Buckle your seatbelts, California. You may be in for another showdown with the Trump administration. One of the proposals buried in Treasury’s housing-finance plan was: curbing Fannie Mae and Freddie Mac multifamily lending in areas that adopt rent control. “The lesson I've had through observing the Trump administration is: They tell you in advance what they are going to do and they more often than not follow through,” a Raymond James analyst said.
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  • Bronx property is first purchase in unique partnership designed to boost affordable housing

    Part of an effort to create stable affordable housing
    As part of an effort to increase the supply of affordable housing in New York City, the New York City Department of Housing Preservation and Development, Commissioner Louise Carroll, Settlement Housing Fund, the Community Preservation Corporation, and the New York City Acquisition Fund recently announced the first acquisition of a property through the city’s Neighborhood Pillars Downpayment Assistance Fund.
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  • Rent in the Big Apple hits 3-year high

    The nation's median monthly rent for a one-bedroom climbs to $1,223
    The nation’s median rent prices for a one-bedroom and two-bedroom unit rose 1.1% and 0.5% in August. Although San Francisco secured the largest monthly growth rate, Zumper's National Rent Report indicates it was really New York that experienced the most substantial increase.
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  • Finance of America Reverse launches New York's only proprietary reverse mortgage

    Older New York homeowners can now tap up to $4 million in equity with the HomeSafe Standard
    For years, HECM lenders have tried to launch a privately insured reverse mortgage product in the state of New York but have been stopped by repeated regulatory roadblocks. But now, it appears one lender has broken through the barrier, as Finance of America Reverse announced Tuesday that is has successfully launched its proprietary reverse mortgage, the HomeSafe Standard, in New York.
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  • WSJ: Rent control law sends New York building values tumbling

    "Every spreadsheet in New York just changed," says one broker
    New York’s new rent control law could cause rent-stabilized apartment buildings to drop 20% to 45% in value, brokers and investors said in a Wall Street Journal story on Monday. "Every spreadsheet in New York just changed," said Steven Vegh, a real estate broker who sells buildings to investors.
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  • New York launches its own CFPB

    NYDFS creates new division for consumer protection and enforcement
    Following through on a pledge made more than a year ago, the New York Department of Financial Services is launching its own version of the Consumer Financial Protection Bureau, seeking to fill the consumer protection gaps that are beginning to appear as the Trump administration puts more of its stamp on the CFPB.
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  • Ouch! New tax code hit Wall Street where it hurts: Hamptons home prices

    Sales tumbled 18% in Wall Street’s summer playground
    Home sales and prices tumbled in 2019’s first quarter in the Hamptons, the summer playground for Wall Street bankers and Hollywood glitterati. Wall Street bonuses are down and the new federal tax code is making it more expensive to own luxury properties in states that have high property taxes.
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  • [Pulse] Did Amazon's about-face on its NY HQ2 plans turn the Long Island City real estate market upside down?

    Real estate in the Queens neighborhood was hot even before the tech giant set its sights on the area
    Well before Amazon announced its plans to pursue a second headquarters in Long Island City, the Queens neighborhood was among the fast-growing real estate markets of NYC. Major players in the real estate industry set their foot on the once-crumbling industrial neighborhood and secured millions of dollars to finance massive commercial and industrial projects. Yet, Amazon’s snafu announced last week still stunned the LIC real estate market.
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