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Office to residential conversions are a once-in-a-generation opportunity to provide affordable housing in New York City. In their “ Making New York Work for Everyone ” plan, released in January, Mayor Adams and Governor Hochul expressed eagerness to build more housing in New York City’s business districts after COVID.
3 In this article, I argue that these two standards are no longer essential given the evolution of the markets and mortgage industry over the decades since they were established. I find these recommendations lacking for four main reasons. 10 Second, the recommendations’ emphasis on Ginnie Mae is misplaced.
After the COVID-19 pandemic severely affected the hotel industry in New York City, policymakers considered whether to promote the reuse of distressed hotel buildings as housing. In a new white paper , the NYU Furman Center’s Noah Kazis details essential background information on the matter of hotel-to-housing conversions.
Introduction In November of last year, the Federal Housing Finance Agency (FHFA) published a report 1 (the Report) recommending reforms for the Federal Home Loan Bank (FHLB) System. This two-part article argues that the root cause of their need for reform is a fundamental flaw in Congress’ design of GSEs.
Housing costs and supply are dominating the news at the moment. Housing is the highest monthly bill typical Americans face, reaching an average of $1674 a month in 2021. Housing prices have increased far faster than incomes (Miller 2015), making affordable homeownership inaccessible for many aspiring homeowners (Hackett et al.
When I do searches for articles within the blog, I come across articles that remain in draft form, as I never got around to finishing them. So there is a current article in the Post (" Departing DC planner Harriet Tregoning hailed as 'forward-thinking public servant ") and a previous article in the City Paper (" Urbanista!:
From the article: During a worsening housing affordability crisis, New York City landlords are keeping tens of thousands of rent-stabilized units off the market — a phenomenon tenant activists call “warehousing.” The Housing Stability and Tenant Protection Act of 2019 (HSTPA) repealed both vacancy bonuses and vacancy decontrol.
Article by Armine Kardashyan and Weston Crewe Days before the US was expected to have its first ever default, Congressional Republicans and the White House negotiated a deal that lifted the debt ceiling and cut government spending.
In 2023 so far, at least 27 states and territories have pursued more than 80 bills related to AI, including legislation to study, restrict or prohibit its use. And the overwhelmingly bipartisan law established a new working group charged with adopting a Connecticut-specific AI bill of rights based on a White House AI Bill of Rights blueprint.
Open hybrid cloud offers a way forward, offering the ability to keep some applications in-house, and to scale when necessary in the cloud, without the risk of over-subscribing to services you aren’t using. This article appears in our guide, “ How to Kickstart Modernization.” That’s what effective modernization can do.
Introduction The Federal Home Loan Bank (FHLB) System 1 is a relatively unknown but important part of America’s housing and financial system, with over $1 trillion in assets. It was established by Congress in 1932 and today consists of 11 regional FHLBanks that operate as one system, cross-guaranteeing each other’s debts.
Introduction In April, the Federal Housing Finance Agency (FHFA) officially solicited public comment on a proposal from Freddie Mac, one of the two large government-sponsored enterprises (GSEs) it oversees, to begin a pilot program to finance closed-end second (CES) mortgages. It seems clear it would not.
They can be very helpful: Using artificial intelligence (AI), ADM systems assist or replace human efforts to make potentially life-altering decisions related to public benefits, policing, housing, health care, immigration, education, emergency response, child welfare and other concerns. According to a recent survey, 70% of U.S.
Housing-Related Exemptions Builders inventory ( G.S. While this exclusion is not very popular across the state, each year there are legislative proposals to expand its reach. Low- & moderate-income housing ( G.S. Also note that low- and moderate-income housing owned by the government is fully exempt under G.S.
Lire cet article en Français The potential of open data to transform governance and public services is immense, but realizing this potential requires overcoming common obstacles. Just as a shaky foundation undermines even the sturdiest house, flawed data diminishes the value of the most advanced algorithms.
Leadership or legislators might not be moved by the need for simplifying IT management or improving collaboration, but they understand the need to keep constituents safe and services running. This article appears in our Guide, “ Unpacking Digital Transformation.”
White House deputy press secretary Karine Jean-Pierre speaks to reporters. Here’s an article from CNN. An email I wrote to our state library association about the concerning things happening in Texas. I wanted to make you aware of an issue concerning book challenges. I draw your attention to the quote from ALA.
The second cohort of the county's Community Planning Lab wrapped up last month after the class spent weeks learning about urban development and design, planning and zoning, public engagement, affordable housing, transportation, land use and more. From the article: Residents who attended the Oct. Photo: David Jackson, Park Record.
Only the General Assembly is authorized to create property tax exemptions, and when that legislative body creates exemptions they must apply uniformly across the state. One idea proposed by housing advocates is to modify the “circuit breaker” residential tax exclusion so that it benefits more taxpayers.
Manufactured housing (MH) has recently taken on a high profile among affordable housing advocates, including in the Biden administration. As a result, the search for ideas to increase the usage of MH has been building given the critical affordable housing shortage that has grown for many reasons over at least the last decade.
You need to craft data-driven narratives that connect with the intended audience, whether government officials, legislators or constituents. Their research supports policy development around a wide array of issues, from transportation, energy and natural resources to education and housing. Its not enough to dig up good data.
In addition to housing issues, many tenants have been left unemployed either temporarily or permanently due to damage or destruction of businesses. Such assistance is in part meant to deter further displacement and loss of housing following a natural disaster. The rental of residential housing is an act that affects commerce.
So I was surprised to see it recognized in a recent article. I've seen a bunch of articles in the Philadelphia Inquirer : -- a church, not recognizing the value of interior architecture, including two stained glass windows by Tiffany, sells the stuff for a pittance, " A church sold its old stained glass windows for $6,000.
The Federal Housing Finance Agency (FHFA), the regulator and conservator of Freddie Mac and Fannie Mae, the two government-sponsored enterprises (GSEs), has been very prominently in the news lately. The changes then became the subject of hearings and legislation in the Republican-controlled House of Representatives to reverse the changes.
The average guarantee fee (G-fee) of Freddie Mac and Fannie Mae, the two government-sponsored enterprises (GSEs), who currently finance about half of the nearly $13 trillion of outstanding first-lien single-family mortgages in the country, 1 is among the most closely-watched numbers by housing finance policymakers and the mortgage lending industry.
The Detroit News has an article, " 2 Detroit museums seek same financial lifeline DIA, zoo got ," about how two cultural institutions based in Detroit, but serving the metropolitan area, The Charles H. From the article: Democrat Rep. That bill is before the House for final approval next week.
-- " Senate votes to block controversial DC crime bill ," CNN I haven't written a blog entry on this, just comments, and comments on Washington Post article. I write that for the most part, DC's legislators have it pretty good. It’s doubtful the council could have come up with any other bill that is more likely to provoke GOP reaction.
The Washington Post recently published a long article on Social Security Disability Insurance benefits in small rural communities. The Post article focused on a former roofer who was suffering chronic pain because he’d fallen to the ground. And one devoutly hopes someone else in the White House. Hence this post.
From the article: English councils collectively went on a near 7bn commercial property buying spree, a journey which has now proved to be responsible for bringing some of them to the edge of bankruptcy. But Labours overall communities strategy needs to be considerably fleshed out if its impact is to be transformative.
In non-emergency situations, local government housing loans are authorized “only when the planning, construction, and financing of residential housing is not otherwise available to ‘persons and families of low income’” due to “the inability of private enterprise and investment, without assistance, to meet that need.” 29, 49, 50 (1970).
Introduction The most discussed topic in housing finance policy in the last few months has been whether and when the second Trump administration (Trump II) might end the conservatorships of Fannie Mae and Freddie Mac (F&F), the two large government-sponsored enterprises (GSEs).
In normal times, it's tough to sell federal properties in DC because first it involves the federal government, but also has to get both the Legislative and Executive Branches to agree, at a time when the Executive Branch is anti-government, anti-urban, and anti-DC. According to the Wall Street Journal article, " The U.S.
The possibility of a GSE conservatorship exit has sparked considerable media attention, particularly in housing and mortgage industry circles. 2] This article, the first of a two-part series, will ask and then answer ten key questions about the long-discussed issue of when and how the GSEs might exit conservatorship.
Some of the articles about Earth Day (4/22/25, usually acknowledged the weekend before or after) focused on acts people can take to make a difference. Texas lawmakers are taking on cedar allergies during the 89th Legislative Session. One is planting trees. Some Utah lawmakers claim overgrown forests suck too much water ," SLT ).
From the article: A late addition to transportation-focused SB195 calls for a roughly yearlong moratorium on new road projects that aim to reduce or slow down traffic on streets in Utahs capital. And, umm, such interventions are already studied before being implemented. But still it wastes a year. And maybe UDOT will buckle.
This means the current administration has the power to make changes in GSE mortgage programs and policies that could materially impact large numbers of current and prospective homeowners, as well as the mortgage and housing industries. First, the White House can tell the FHFA what to do in as much detail as it chooses.
There is an article (" Salt Lake City has no more affordable neighborhoods, as gentrification turns 'scary' ") in the Salt Lake Tribune about how there are no affordable neighborhoods left in the city. The "affordability problem" is a function of lack of housing supply. Fareed Zakaria (" Forget pronouns.
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