The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($806,500 or less) increased to 6.31% from 6.30%.
New York recorded the lowest turnover rate among the top 50 metros, with only around 10 out of every 1,000 homes selling in the first nine months of the year.
The share of first-time buyers in the market has contracted by 50% since 2007—right before the Great Recession. The implications for the housing market are staggering.
The Resorts World New York City proposal features a 5.6 million-square-foot integrated resort that will allow for 6,000 slot machines, 800 gaming tables, 2,000 hotel rooms, a 7,000-seat arena, over 7,000 parking spaces and over 30 food and beverage outlets.
With the 5-0 CAC affirmative vote, the Yonkers project now advances for full consideration with the New York State Gaming Location Board.
According to the New York State Gaming Commission website: the CAC for the Empire City project has scheduled a final vote on the $2.3-billion project on Thursday, Sept. 25 at 10 a.m.
The CAC will meet on Thursday, Sept. 25 at the Yonkers Riverfront Library at 10 a.m., where it will likely vote on whether to approve or disapprove the MGM Empire City plan.
The Planning Board closed the public hearing, which signals a vote on the project’s site plan application and height exemption could come at the Planning Board’s next scheduled meeting on Wednesday, Oct. 8.
Genting Malaysia announced components of the bond sale deal on Aug. 15.
The analysis projects substantial traffic growth in the corridor over the next 30 years, due both to proposed development and long-term population trends.
In terms of setbacks, Boone noted that the project offers setbacks that are anywhere between 650% to 2,000% greater than the setback requirements by the town.
The Out of Reach report found that the cost of housing in the Hudson Valley continues to rise faster than wages for renters and buyers.
HGAR’s Hawkins-Syska told the gathering that the raising of the SALT Cap to $40,000 “is a big win for our communities.
Construction is scheduled to begin in the first quarter of 2026 with production operations anticipated to start in January 2027.
The mayor’s veto puts the $4-billion project to be built at Bally’s Golf Links at Ferry Point in the Bronx back in the running among six other applicants for up to three downstate gaming licenses.
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