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Research & Policy
Furman Center Releases New Report on Federal Loan Limit Reductions
Oct. 11, 2011: A new paper by the Furman Center, A Canary in the Mortgage Market? Why the Recent FHA and GSE Loan Limit Reductions Deserve Attention, explores the potential implications of recent reductions in the maximum loan size that can be guaranteed by Fannie Mae and Freddie Mac (Government-Sponsored Enterprises or GSEs), or insured by the Federal Housing Administration (FHA) in many parts of the country. The changes, which went into effect on Oct. 1, 2011, represent the first step in a long-term policy goal to reduce the federal government’s current role in the mortgage system. The reductions will also be a significant test of the private mortgage finance system. View Factsheet.
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Research & Policy
Furman Center Launches Subsidized Housing Information Project
Sept. 8, 2011: The Furman Center released the Subsidized Housing Information Project (SHIP), a database containing financial and physical information on nearly 235,000 units of privately-owned, subsidized rental housing in New York City developed with major government programs. The data is accessible through a user-friendly, interactive data search tool available here. The Furman Center’s Institute for Affordable Housing Policy simultaneously released the State of New York City’s Subsidized Housing report, which provides a comprehensive analysis of the properties in the SHIP database, and identifies opportunities to preserve affordable housing in the coming years. Additionally, the Institute released an online Directory of New York City Affordable Housing Programs, a reference tool explaining nearly 200 unique housing programs that have been employed in New York City. View the press release.
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Research & Policy
Furman Center Releases New York City Quarterly Housing Report
August 18, 2011: 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. 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. View the press release.
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Research & Policy
Furman Center Releases New Report on Mortgage Lending to Vulnerable Communities
August 10, 2011: New research released by the Furman Center finds that 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. The new 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. View the press release.
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Research & Policy
Furman Center Releases New York City Quarterly Housing Report
May 19, 2011: A new Furman Center analysis of first quarter housing indicators 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 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. View the press release.
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Research & Policy
Furman Center and Institute for Education and Social Policy Release Study on Foreclosures and Kids
April 20, 2011: The second in a two-part series on the effects of the foreclosure crisis on children, Foreclosure and Kids: Does Losing Your Home Mean Losing Your School? addresses the relationship between foreclosure and student mobility. New York University’s Institute for Education and Social Policy (IESP) and Furman Center for Real Estate and Urban Policy find that New York City public school students living in buildings entering foreclosure are more likely to switch schools than their peers, less likely to leave the school system, and that their new schools tend to be lower performing than the ones they left. Read the press release. The next stage in this research will examine the effects of housing instability on children’s educational outcomes.
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Research & Policy
Furman Center Releases 2010 State of New York City’s Housing and Neighborhoods Report
April 12, 2011: The Furman Center is pleased to present the 2010 edition of the State of New York City’s Housing and Neighborhoods. In this annual report, the Furman Center compiles statistics on housing, demographics and quality of life in the City, its five boroughs and 59 community districts. This year we examine the impact of foreclosures on New York City’s multi-family rental housing stock, analyze where New Yorkers live and work and how they commute, and highlight the Furman Center’s latest research on public and subsidized rental housing. Read the press release here.
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Research & Policy
Furman Center Releases New York City Quarterly Housing Report
February 25, 2011: A new Furman Center analysis of fourth quarter housing indicators 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. View the press release.
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Research & Policy
Study on Rezonings and Park Accessibility Published in Cities and the Environment
February 1, 2011: The article “How do New York City’s Recent Rezonings Align With its Goals for Park Accessibility?” is featured in the 3rd Volume of Cities and the Environment. This study investigates how well city-initiated rezonings correlate with the goal of providing New Yorkers with good access to the City’s parks. View the report
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Research & Policy
Furman Center Marks 15th Anniversary with Release of “15 Years of Research, Analysis and Insight”
February 1, 2011: Over the past 15 years, the Furman Center has been committed to the highest standards of interdisciplinary empirical and legal research about housing, land use, real estate, and urban affairs. This report looks back at the Furman Center’s past research, events and reports in four focus areas: Housing Finance and Foreclosures, Affordable Housing, Land Use Regulation, and Neighborhood Change. View the report.