On Saturday Jim Dwyer of the Times had a piece on the overfinancing of apartment buildings in the Bronx and how community groups never pushed for this scenario. UNHP's Jim Buckley is quoted extensively defending the role of the Community Reinvestment Act (CRA), a 1977 law that aimed to end redlining but has now come under attack from the Right for fueling the current housing implosion.
Charles Bagli follows this up with an article today on the financial trouble many private equity landlords are experiencing as they realize they can't drive rents up quite as fast as they had planned. While most of the properties featured in the article are located in upper Manhattan, there are a lot of private equity buildings in west Bronx.
Monday, October 6, 2008
Housing Articles from the NY Times
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