Monday, May 4, 2009

Non-profits desperate to sell

From the Epoch Times:

Inside the housing crisis is an agency buckling under the weight of 24 empty properties in the New York City area.

Neighborhood Housing Services (NHS) has recently gut-renovated the properties in Brooklyn, the Bronx, and Queens, as part of their mission to bring affordable housing and responsible lending to these neighborhoods.

“Our traditional audience and people who know us are usually first time buyers, small business owners, and immigrants,” said Sarah Gerecke, CEO of NHS. Banks are calling for larger deposits and the housing market is in a glut. “Our target market has lost its financing and they don't have 30-35 percent down payment,” she said.

NHS, a non-profit organization, has just been granted permission to sell on the open market—a last resort for the team, who have always sold to locals and owners who will reside in the building.


Lino said...

Tsk-Tsk So negative...think of those new stadiums!

Artful Dodd-ger said...

All those new developments going up in western Queens pushing out the local residents and hollowing out their communities by sending resources to line the pockets of the developers.

Glad to see out taxes being used wisely and for cross purposes.

(and for heavens sake, they can't clean the grafitti off their buildings? Nothing says 'slum' like that.)

Anonymous said...

what a misnomer, this organization doesn't do eviction prevention since about 1997. They help landlords to government money. lots of slumlords in Queens got mortgage, thanks to these idiots