“At this critical stage of the housing market, it is all about mortgage rates,” said NAR Chief Economist Lawrence Yun.
The report warns that if Westchester fails to address its growing housing shortfall, the county could lose between 8,400 to 12,000 jobs annually and $533 million to $742 million in annual earnings.
The move effectively keeps congestion pricing tolls in effect through at least June 9.
The HALO fund provides direct loans to borrowers in support of the creation or preservation of housing that is attainable to the average Rockland resident.
The new Westchester headquarters positions OLA for continued growth as it remains on a mission to create better, more efficient environments.
Contract activity fell more sharply in the high-priced regions of the Northeast and West, where elevated mortgage rates have appreciably cut affordability.
The donation allowed Lucas, a four-year-old Westchester boy and avid animal lover, to travel to Walt Disney World and Animal Kingdom in Orlando, FL.
Weisz noted that in the past 15 years, the county’s office market has been reduced from 35 million square feet to approximately 26 million square feet.
Homeowners are facing an insurance affordability crisis, squeezed by the triple threat of skyrocketing premiums, shrinking coverage, and vanishing options.
U.S. Existing-Home Sales Rose 2.2% in December
The proposal would deliver an estimated 9,700 new homes—including up to 2,900 permanently income-restricted affordable homes.
One of the report’s major findings is that new multifamily housing development has not resulted in spikes in student enrollment in impacted school districts.
Gov. Hochul said the current limit of $10,000 on state and local taxes in New York State costs New Yorkers up to $12 billion a year.
In 2023, 39.5% of older homeowners in the city spent 30% or more of their household income on housing costs.
“The top driver of our affordability crisis is the rising cost of rent and mortgages, and New Yorkers need our help.”
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