Publications

  • Katherine M. O’Regan Testimony to U.S. Senate Committee on Finance Hearing on Affordable Housing

    On Tuesday, August 1, 2017, Dr. Katherine O’Regan, faculty of NYU Wagner and Faculty Director at the NYU Furman Center, testified at the United State Senate Committee on Finance’s hearing entitled, “America’s Affordable Housing Crisis: Challenges and Solutions.” Dr. O’Regan’s statement outlines the extent of the nation’s affordable housing crisis and its consequences for households and markets. In discussing the federal government’s role in responding to the crisis, she discusses three proposed reforms to the Low Income Housing Tax Credit to “increase its flexibility and feasibility in a broader set of market conditions, to streamline, and to more effectively meet key policy goals.” Read Dr. O'Regan's full statement or watch a video of the hearing.

  • Key Findings on the Affordability of Rental Housing from New York City’s HVS 2008

    Every three years, the U.S. Census Bureau releases the New York City Housing and Vacancy Survey (HVS), which assesses changes in various aspects of New York City’s housing and neighborhoods. The primary goal of the survey is to estimate the rental vacancy rate in the City, but the survey also provides valuable insight into other trends in the housing stock. However, the data are released in a format that is hard to understand without statistical software. In order to make the findings available to a wider audience, we have analyzed the data about New York City’s neighborhoods and compiled this summary of noteworthy trends.

  • Locating Landlords: An Analysis of Rental Property Registration Compliance in New York City

    In emergency situations like Hurricane Sandy, the city’s system for tracking rental property owners can serve as a crucial resource. However, a new Furman Center report finds that the vast majority of landlords required to register with the city fail to do so. Only 23 percent of rental properties are registered with the city, and only 61 percent of NYC’s renters live in buildings with current registrations. The report outlines strategies for boosting rental registration to help make the registration ordinance a fully effective resource, including greater outreach and stronger penalties.

  • Mortgage Lending During the Great Recession: HMDA 2009

    While home purchase mortgage lending declined throughout the recession, new research released by the Furman Center finds that ending to low and moderate income homebuyers actually increased in 2009, as did the number of new mortgages backed by the Federal Housing Administration (FHA) and Veteran’s Administration (VA).  The new data brief, Mortgage Lending During the Great Recession: HMDA 2009, finds that 16 percent of the 2009 New York City home purchase mortgages were FHA/VA-backed loans. By comparison, those type of loans accounted for less than one percent of home mortgage loans issued from 2005 to 2007.

  • Mortgage Lending to Vulnerable Communities: A Closer Look at HMDA 2009

    Across the U.S., the number of home purchase mortgages issued to low- and moderate-income borrowers jumped by 26 percent in 2009, even as overall home purchase lending declined, new research released by the Furman Center finds. The data brief, Mortgage Lending to Vulnerable Communities: A Closer Look at HMDA 2009, finds that lending to low- and moderate-income homebuyers increased nationwide in 2009, despite a reduction in the number of home purchase mortgages issued to higher income borrowers. Lending in low- and moderate-income neighborhoods, on the other hand, did not see a similar increase.

  • New York City Quarterly Housing Update 2010: 3rd Quarter

    In an analysis of third quarter housing indicators, the Furman Center finds that home sales declined between the second to third quarter of 2010, but the foreclosure crisis appears to be slowing citywide. The Quarterly Housing Update, which uses six key indicators of housing market performance from a variety of data sources, is the only New York City housing report to incorporate sales data, development indicators, and foreclosures. It also presents a repeat sales index for each borough to capture price appreciation while controlling for housing quality.

  • New York City Quarterly Housing Update 2010: 4th Quarter

    In an analysis of fourth quarter housing indicators, the Furman Center finds that home prices outside of Manhattan are still in decline, but foreclosures are down citywide. The Quarterly Housing Update, which uses six key indicators of housing market performance from a variety of data sources, is the only New York City housing report to incorporate sales data, development indicators, and foreclosures. It also presents a repeat sales index for each borough to capture price appreciation while controlling for housing quality.

  • New York City Quarterly Housing Update 2011: 2nd Quarter

    In an analysis of second quarter housing indicators, the Furman Center finds that home sales volume declined 20 percent from the first to the second quarter of 2011, although home prices citywide held steady. The report also finds that new construction is slowly starting to return with 1,556 units authorized by new residential building permits between January and June 2010, compared with 1,703 units authorized in all of 2010.

  • New York Quarterly Housing Update 2011: 1st Quarter

    In an analysis of first quarter housing indicators, the Furman Center finds that housing prices declined between the last quarter of 2010 and the first quarter of 2011 in every borough except Queens, where prices remained essentially flat. The volume of home sales continued to decline in every borough compared to the previous year. The Quarterly Housing Update is unique among New York City housing reports because it incorporates sales data, new construction indicators, and foreclosures. It also presents a repeat sales index for each borough to capture price appreciation while controlling for housing quality.

  • Population and Housing in the Floodplain Battered by Hurricanes Harvey and Irma

    In conjunction with the launch of FloodzoneData.us, the NYU Furman Center released a series of data briefs to illustrate the housing and population located in the U.S. floodplains. The third brief in the series, Population and Housing in the Floodplain Battered by Hurricanes Harvey and Irma, describes the housing and population located in the floodplains of metropolitan areas affected by hurricanes in recent months, including Houston, Miami, Tampa, and Jacksonville. The analysis describes the housing stock (including tenure, size, and number of subsidized housing units) and population demographics (including poverty rates, households with children and seniors, and race/ethnicity) in floodplains within these metro areas.