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.
A COVID rescue package has been signed into law by President Trump. The legislation included the following:
One item is $4 billion for the MTA. The funding is critical to stave off cuts that the MTA claimed would be unavoidable without federal aid. If the aid was not forthcoming, MTA claimed that Metro North service west of the Hudson River would have been shut down. Service East of the Hudson would have seen major service cuts.
Another key provision included in the bill is billions of dollars for the pay check protection program. This has helped keep businesses afloat. The loans would be forgiven if they are used for rent, mortgages, payroll and other vital necessities for a business to survive. This provision was originally passed into law in the Cares Act, that was signed into law in the first half of 2020.
Billions in aid for rental assistance was also included in the bill. The funds will assist multiple New York government entities and by extension will provide aid needed to keep New Yorkers in their homes. Landlords need more help, and have not gotten nearly enough aid to cover expenses and mortgage payments. With eviction moratorium extensions at the federal and state level, landlords are struggling to survive.
Finally, aid to state and local governments was not included in the most recent rescue package. With U.S. Senator Chuck Schumer (D-NY) as the incoming Senate Majority Leader, this will likely be included in legislation in the new Congress. An increase in the SALT cap is also likely. This would provide New York homeowners with much needed federal tax relief.
Stay tuned for updates on possible future COVID relief legislation.
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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