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.
December has just about come and gone. Some progress has been made on the legislative front at the federal level. A $906-billion stimulus bill has been introduced in the Senate by a team of bipartisan lawmakers. The fate of the bill waxes and wanes each day.
Senate Majority Leader Mitch McConnell insists the bill include liability reform that would protect businesses from lawsuits. House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer insist it include more than $100 billion for state and local governments. This could help prep schools for opening, prevent massive cuts to state and local governments, and extend unemployment insurance. At the moment as I write this, monthly stimulus checks have not been included in the deal. Inclusion of stimulus checks is seen as something that would help people pay their rent and mortgages.
A measure that could get done by the incoming Biden administration is student debt relief or cancellation. This could be done by executive order. One big idea is to cancel up to $50,000 in student debt. There are pros and cons to this. One that is particularly attractive to the real estate industry, is that it would free up money to save towards home ownership. A potential down side, according to the critics of this approach, is that it would reward borrowers who could afford to repay their loans. Proponents of this view feel that relief should be more targeted. This would include reducing the interest rate on the loans and forgiving a much smaller portion of the debt owed.
Finally, rent relief is being offered by New York State under a measure signed several months ago. People must show that they have been negatively impacted financially by COVID-19. Details can be found on Governor Cuomo’s website. The state of emergency has been extended through January and is likely to be extended again. The eviction moratorium has also been extended for people who have been affected by the pandemic. Stay tuned for 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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