Chief among the reform measures included in the budget was disincentivizing institutional investors from buying up one- and two-family homes.
This draft language preserves or strengthens a raft of provisions vital to housing affordability.
In a third transaction, an existing 76-unit development completed about six years ago has a new owner.
That fact that both sales and home prices continue to increase is an indication of the high demand and low supply that exists throughout the New York metro area and lower Hudson Valley,” said HGAR CEO Lynda Fernandez.
“Mortgage rates in Trump’s first term (at 4%) were the good old days. Are we going to go back to 4%? Per my forecast, unfortunately, we will not. It’s more likely that we’ll go back to 6%.
New York City remains a top market for investment for international groups.
Some of the highlights of the two-day event included the selection of 2024 HGAR award winners, including Realtor of the Year Tony D’Anzica and Affiliate of the Year Richard Haggerty.
While Westchester still showed the highest median in the region, it did fall from a record high of $1.118 million in August to $905,051 in September.
CID President John Barrett prophetically related, “His legacy and leadership will be evident in this town 100 years from now.”
“If approved (by the court) on Nov. 26, we can finally put this in our rearview mirror,” Sears said.
Eckert of the Orange County Partnership said that national developer interest in Orange County remains “very strong” despite the present financial market volatility.
NYPA is pursuing an “aggressive” time line that projects a definitive development agreement to be reached with Hamilton Green Partners by November 2024 and the move-in to its new corporate headquarters by June 2027.
Members Day will once again feature a trade show with 50 Exhibitors.
For the build alternative that involves the construction of a general use third lane with interchange improvements and mobility and access improvements, the total cost estimate is $1,412,500,000.
Sales of single-family homes declined in all six areas, with the Bronx experiencing the largest decline at 18.5%, followed by Rockland County with a 10.6% drop.
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