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“Scary and completely unsustainable.” Rent-stabilized buildings can’t pay their mortgages & the banks holding their loans are in serious trouble
Manage episode 464955419 series 3556055
Вміст надано Housing New York. Весь вміст подкастів, включаючи епізоди, графіку та описи подкастів, завантажується та надається безпосередньо компанією Housing New York або його партнером по платформі подкастів. Якщо ви вважаєте, що хтось використовує ваш захищений авторським правом твір без вашого дозволу, ви можете виконати процедуру, описану тут https://uk.player.fm/legal.
Plus, why does rebuilding after a fire take so long? And New York is the only place we know that ties rent stabilization to a perpetual housing emergency – thereby maintaining a perpetual disincentive to build new housing.
This is your New York Apartment Association weekly update with CEO Kenny Burgos.
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On The Agenda
1:34: Rent-stabilized buildings & the banks holding their loans are in serious trouble
→ Flagstar, formerly NYCB, dumps $142M in rent-stabilized loans
→ Flagstar reports 500% pop in past due debts as rent-stabilized purge continues
→ Bank’s multifamily loans at default risk skyrocket
→ SEC asks New York banks to reveal their exposure to rent-stabilized loans
→ Extend-and-pretend still reigns supreme
3:32: Why it takes so long to rebuild after a fire
5:23: Glorifying rent-stabilized tenants (and what gets lost)
6:48: The latest on rent stabilization in Kingston
8:35: Albany legislative session
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