Data shows that from 1996-2021, the Hudson Valley region lost a net total of 146,763 people to out migration, which calculates out to 5% of the Hudson Valley’s population.
Elected officials, seeking to appease vocal constituents, frequently uphold restrictive zoning laws that favor single-family residences over more diverse housing options.
In 2023, the Rockland County Office of Consumer Protection investigated 617 complaints and returned $66,000 to homeowners.
The beat goes on both at the federal and state level; issues that affect everyone in our industry and everyone in the country as well. It is imperative that Congress pass new legislation that provides aid to local and state governments, aid to small businesses to keep them afloat, and aid to landlords so they do not face foreclosure on their buildings.
The current negotiations for the next relief bill being discussed would include aid to unemployed Americans at some level, direct payments to most Americans below a certain income level, as well as school aid and health care for example. The Senate bill includes liability protection for businesses so that they are not sued for failing to live up to certain safety regulations that are required as a result of COVID-19. The House bill includes major aid for state and local governments that are facing big deficits due to the loss of tax revenue. The Senate is against that provision in the bill.
In other news primary elections have taken place at the state level. Many incumbents across New York City were defeated by Democratic Socialist members and Working Family Party members. Given the high level of voter participation and voting by mail it has taken several weeks to count ballots, which may not bode well for election night in November. We could be waiting several weeks for results.
Also, on the state level, a new anti-discrimination bill has been passed and signed into law by the governor that would allow the New York Department of State to suspend a Realtor’s license if they discriminate against prospective tenants or buyers based on any of the protected classes enumerated in the state’s fair housing law. This is a step forward in holding our industry accountable. Stay tuned for further updates on these issues.
Elected officials, seeking to appease vocal constituents, frequently uphold restrictive zoning laws that favor single-family residences over more diverse housing options.
These systematic barriers hindered the accumulation of wealth for African Americans for decades; this hindrance deprived many black families of the opportunity to pass down property and assets to future generations, thereby perpetuating economic disparities.
Traditional lenders often hesitate to finance such projects due to perceived risks or unfamiliarity with emerging technologies and practices.
This initiative aims to create housing opportunities without the high costs of land acquisition, utilizing properties that often enjoy central locations within communities.
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