On Thursday, February 16, CHPC Senior Fellow Harold Shultz took part in Revisiting the Growing Impact of the Mortgage and Credit Crisis on New York City, hosted by the APA New York Metro Chapter at EDC. He was joined by Max Weselcouch of the NYU Furman Center for Real Estate and John Warren of Workforce Housing Advisers.
Harold presented research from CHPC’s new report, The Impact of Multifamily Foreclosures and Over-Mortgaging in Neighborhoods in New York City. The report shows that in New York City neighborhoods, a correlation exists between the presence of overmortgaged multifamily buildings and increased housing code violations and ERP liens. Harold called for continued awareness and government expenditure in these neighborhoods in order to prevent further decline.
To learn more about CHPC’s work on overmortgaged buildings, click here.