Housing Crisis Hurts Immigrants More

The real estate run-up and ensuing credit crisis has exacerbated an already grim housing situation for New York City immigrants, according to a report issued today by the New York Immigrant Housing Collaborative and Pratt Center for Community Development.

According to the report, “
Confronting the Housing Squeeze: Challenges Facing Immigrant Tenants, and What New York Can Do” [pdf], foreclosures have been concentrated outside of Manhattan in neighborhoods with large immigrant populations — such as Jamaica and Queens Village in Queens, and Flatlands, East Flatbush, and Bushwick in Brooklyn. Immigrants who own homes pay far more of their incomes for housing, on average, than native-born New Yorkers, and may have been vulnerable to subprime lending.

For full article click on link below:

Leave a Comment

Your email address will not be published. Required fields are marked *