Report: Investors Bought Two-Thirds of NYC's Affordable Homes in 2017

Investors dominate the affordable homeownership market in New York City.

1 minute read

October 27, 2018, 7:00 AM PDT

"Nearly two-thirds of affordable homes were purchased by investors in 2017, according to a report released this week," reports Joe Anuta.

The report, by the Center for New York City neighborhoods, "found that 62% of affordable homes—which it defines as a property a household making the median income could purchase with a mortgage—were purchased mostly with cash in 2017 by limited-liability companies, frequent buyers of homes, or entities that flipped the property within a year."

FULL STORY: Investors purchased majority of affordable homes in 2017

Thursday, October 25, 2018 in Crain's New York Business

Housing New York New York City Affordable Housing Real Estate Market Investors Cash Homebuyers View More

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