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Total Household Debt Increases, Driven by Mortgage, Auto and Credit Card Debt

The Federal Reserve Bank of New York today issued its Quarterly Report on Household Debt and Credit,which reported that total household debt increased by $114 billion (0.9%) to $12.84 trillion in the second quarter of 2017. There were modest increases in mortgage, auto and credit card debt (increasing by 0.7%, 2% and 2.6% respectively), no change to student loan debt and a modest decline in balances on home equity lines of credit (decreasing by 0.9%).

New York State home sales set second quarter record

The New York State housing market set a record high for second quarter home sales, reaching 32,444 homes sold, according to the housing market report released today by the New York State Association of REALTORS®. The second quarter statewide median sales price of $245,000 represents an increase of 6.5 percent from the 2016 second quarter

New York State May home sales reach record level

Homebuyer demand remained strong in the Empire State during May as closed sales set a record for the month at 10,704, surpassing the record set last May by 4.6 percent, according to the housing market report released today by the New York State Association of REALTORS®. The statewide median sales price continued its upward climb, increasing by 7.1 percent compared to last May.

New York State’s REALTORS applaud NYS Legislature’s passage of nation-leading NY First Home bill

he following is a statement by New York State Association of REALTORS® President Dawn M. Carpenter: “The New York State Association of REALTORS® (NYSAR) and its 55,000 REALTORS® applaud the members of the New York State Legislature for taking action to help more New Yorkers achieve the American Dream of homeownership in communities across the Empire State

New York Building Congress and the Partnership for New York City Unite Industry Leaders...

The Partnership for New York City and the New York Building Congress have sent a letter signed by over 15 industry leaders asking the New York State Legislature to support design-build authorization for New York City.  They reflect the broad-based support for giving city agencies the procurement and contracting tools they need to save time and money on major capital projects.

NYC Schoolchildren Deliver Signed Postcards Asking Mayor de Blasio to Place More Homeless Families...

A group of Brooklyn fourth graders from Kids for a Better Future (KBF) joined by the Coalition for the Homeless, homeless advocates and elected officials delivered at a press conference today signed postcards to Mayor de Blasio asking him to increase NYCHA housing for homeless families. Twenty-three thousand children go to sleep in shelters each night, and the children hope to persuade Mayor de Blasio to double the number of families placed in NYCHA housing each year to 3,000.

Buyer demand drives median price growth as fewer homes available for sale in New...

Strong buyer demand, coupled with the ongoing decline in the number of homes for sale, fueled a 7.8 percent increase in the April statewide median sales price, according to the housing market report released today by the New York State Association of REALTORS. Inventory constraints also led to a 5 percent decline in home sales for the month compared to April 2016.

REALTORS Speak Out Against Federal Tax Proposals Harmful to New Yorkers; Urge Support for...

The New York State Association of REALTORS (NYSAR) today gathered in Albany for its annual Lobby Day to raise awareness about dangerous proposals included in President Donald Trump’s federal tax plan and meet with legislative leaders to promote the NY First Home, a proposal that would allow individuals to deposit up to $5,000 a year ($10,000 a year for couples) into a first home savings account, which would be tax deductible for state income tax purposes.

Partnership for New York City Calls on State Lawmakers to Address Mayoral Control, Charter...

The  Partnership for New York City, which represents the city’s largest private sector employers, investors and leading entrepreneurs, called on the New York State Legislature to permanently extend mayoral control, lift the charter school cap and grant design-build contracting authority to New York City agencies before this legislative session concludes

The Massachusetts Association of Realtors® Charitable Foundation Awards $13,500 in 2017 Spring Housing and...

The Massachusetts Association of Realtors® Charitable Foundation recently announced the 2017 recipients of its spring Housing and Homeless Assistance Grants.  The following 17 charities were nominated by local Realtor® Associations and then selected to receive a share of $13,500 in grants based on their initiatives to provide affordable housing, shelter and other emergency care services within Massachusetts

Home Price Growth Expectations Increase; Renters Perceive Easier Access to Mortgage Credit

The Federal Reserve Bank of New York today released results from its February 2017 SCE Housing Survey, which provides information on consumers' housing-related experiences and expectations.
Habitat

Habitat for Humanity and New York Mets unlock ballpark to celebrate “Home is the...

Habitat for Humanity International CEO Jonathan Reckford, New York Mets studio analyst Nelson Figueroa and Mr. and Mrs. Met helped unlock the Mets’ ballpark for the 2017 season to raise awareness and support of the critical need for affordable housing.

New York Reaches Milestone in Clean Energy Commitment

The New York Public Service Commission (PSC) voted today to approve the first phase of the Value of Distributed Energy Resources order, reaching a milestone in New York’s long-term vision of a modern energy system that puts customer participation and clean energy at its center

Empire State home sales set January record

The home sales growth trend continued in New York State during January with the 8,472 closed sales setting a new high-water mark for the month, according to the housing market report released today by the New York State Association of REALTORS. The January statewide median sales price of $250,000 represents an increase of 8.7 percent from a year ago.

Household Debt Increases Substantially, Approaching Previous Peak

The Federal Reserve Bank of New York today issued its Quarterly Report on Household Debt and Credit, which reported that total household debt increased substantially by $226 billion (a 1.8% increase) to $12.58 trillion during the fourth quarter of 2016. This marked the largest quarterly increase in total household debt since the fourth quarter of 2013, and debt today is now just 0.8% below its peak of $12.68 trillion reached in the third quarter of 2008. Every type of debt increased since the previous quarter, with a 1.6% increase in mortgage debt, 1.9% increase in auto loan balances, a 4.3% increase in credit card balances, and a 2.4% percent increase in student loan balances.

Staten Island REALTOR Dawn Carpenter inaugurated as NYSAR president

Dawn M. Carpenter, CPM of Staten Island, NY took the oath of office Monday, February 6, as the 2017 president of the New York State Association of REALTORS (NYSAR). The association’s inauguration ceremony was held in conjunction with its business meetings at The Desmond Hotel and Conference Center in Albany, NY. She will serve a one-year term in the post.

Ithaca REALTOR Christine ‘CJ’ DelVecchio inaugurated as NYSAR president-elect

Christine “CJ” DelVecchio, CBR, GRI of Ithaca took the oath of office Monday, February 6, as the 2017 president-elect of the New York State Association of REALTORS (NYSAR). The association’s inauguration ceremony was held in conjunction with its business meetings at The Desmond Hotel and Conference Center in Albany, NY

Property Manager Of Poughkeepsie Housing Project Sentenced For Stealing HUD Funds

Preet Bharara, the United States Attorney for the Southern District of New York, announced today that CARL IMMICH, formerly the property manager of Harriet Tubman Terrace Apartments, a Section 8 Housing Complex in Poughkeepsie, New York, was sentenced to 18 months in prison. United States District Judge Cathy Seibel imposed today’s sentence

New Yorkers call on Governor Cuomo and Legislature to assist first-time homebuyers

According to results from a Homeownership Poll conducted by the Siena Research Institute (SRI), 84 percent of New York voters supported the NY First Home proposal that would create a tax-free savings account to help New Yorkers save for a first home. Support for the program was bi-partisan and spread across the entire state

NYCEDC Seeks Proposals To Bring Mixed-Income Housing and Open Space To Long Island City

New York City Economic Development Corporation (NYCEDC), in partnership with the Metropolitan Transportation Authority (MTA), today issued a request for proposals (RFP) for the development of a 58,000 square foot site in Long Island City, Queens. Activation of this underutilized site represents a unique opportunity to deck over a below-grade rail yard and create vibrant mixed-use, mixed-income housing development above with open space, community facilities and neighborhood retail.

‘HOUSING NEW YORK: THREE YEARS OF PROGRESS’: CITY RELEASES NEW REPORT DESCRIBING THE...

New York City Department of Housing Preservation and Development (HPD) Commissioner Vicki Been and New York City Housing Development Corporation (HDC) President Eric Enderlin today announced the release of Housing New York: Three Years of Progress, describing the inroads made towards the goals of the Mayor’s housing plan. The new report comes on the heels of the Mayor’s announcement last week that his Administration financed more affordable housing in 2016 than in any time in the past 25 years.

CONNECTICUT DC/VA/MD FLORIDA HUDSON VALLEY MID-ATLANTIC NCFO NEW ENGLAND 615 NEW JERSEY NEW YORK...

32BJ announced today that its members have endorsed State Senator Bill Perkins in the special election for City Council District 9 based on his record of fighting for good jobs, affordable housing and immigrant rights

REALTORS ask governor to expand first-time homebuyer incentive

The following is a statement by New York State Association of REALTORS CEO Duncan R. MacKenzie: “The New York State Association of REALTORS (NYSAR) and its 52,000 REALTORS encourage Gov. Andrew M. Cuomo to consider a more broad-based, robust approach to assisting all our state’s residents in overcoming the barriers to homeownership. We need to invest in as many bright young minds as we can if we are to fully reinvigorate our state’s economy

Coalition for the Homeless Policy Brief Finds ‘Lost Decade’ Major Cause Underlying Historic Family...

Nearly 32,000 households were denied access to permanent housing assistance between FY 2005 and FY 2014. Report Outlines Steps State, City Must Take Immediately to Match the Scale of Crisis
SprinklerLawsLeadDecline in NYC Fire Fatalities 2017

NYC Fire Fatalities Fall to New Record Low in 2016

2016 was the Big Apple’s safest year in terms of fire fatalities, according to the FDNY. The world’s busiest fire department reported 48 fire-related deaths, the lowest number since the city began recordkeeping in 1916. It represents a 19% decline over the 2015 numbers, and a 17% drop from the previous record low of 58 fire-related deaths in 2012. The FDNY also reported a 9% reduction in “serious fires.”

Popular Government & Nonprofit Press Releases

VETERANS UNITED HOME LOANS TO PAY $604,000 IN RESTITUTION TO NEW...

Financial Services Superintendent Maria T. Vullo today announced that Mortgage Research Center, LLC, doing business as VAMortgage Center and/or Veterans United Home Loans, will pay approximately $604,000 in restitution to New York consumers, primarily veterans, as part of a consent order entered into with the Department of Financial Services (DFS).

Recent Government & Nonprofit Press Releases

Total Household Debt Increases, Driven by Mortgage, Auto and Credit Card...

The Federal Reserve Bank of New York today issued its Quarterly Report on Household Debt and Credit,which reported that total household debt increased by $114 billion (0.9%) to $12.84 trillion in the second quarter of 2017. There were modest increases in mortgage, auto and credit card debt (increasing by 0.7%, 2% and 2.6% respectively), no change to student loan debt and a modest decline in balances on home equity lines of credit (decreasing by 0.9%).