Saturday, April 23, 2011

NYC Housing Advocates To Ramp Up Efforts Against Predatory Equity Investments Involving Residential Apartments Buildings

In New York City, the Brooklyn Daily Eagle reports:
  • The Urban Homesteading Assistance Board (UHAB), an organization that has assisted in the preservation of more than 1,700 buildings and created homeownership opportunities for 30,000 households in the city since it was established in 1973, reports that it is ramping up its fight against predatory equity.
  • Predatory equity is a process in which banks make unsupportable loans to speculative buyers, enabling them to purchase buildings with the explicit purpose of removing regulation, raising rents and displacing low- and moderate-income families.

For more, see Housing Preservation Organization Ramps Up Fight Against Predatory Equity.

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