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Real Estate
Reply to "Realtor Fired for Suggesting Affordable Housing Go To "Deserving Blacks""
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[quote=Anonymous]He is right. In NYC there was a great think in 1970s-1980s where NYC took largely African American occupied run down apartments in sketchy areas owned by slumlords and turned them into HDFC coops. Usually slumlords moles after many years of back taxes, water bills and fines literally abandoned building. The original owners could sell after a long period but new buyers had to meet very low income requirements. Most banks won’t provide mortgages at all so cash only. Quick look today shows me units max income 36k on units that cost 450k. Who buys them? Rich white or Asian college new graduates were mommy and daddy front cash. How is a person earning 35k in Manhattan spending 450k cash? [/quote]
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