Categorized | This Place Called Home

Hard-Knock Living

In 1996 only three percent of mortgages in New York were subprime. By 2005, it was 25 percent. Housing prices began to drop in 2006, making it difficult for people who had assumed risky mortgages to refinance. In New York City alone, 18,000 foreclosures were initiated last year.

We talked to a man who may be losing his home in Queens; the Neighborhood Preservation Commissioner at the NYC Department of Housing Preservation and Development; and to a squatter who is working to legally own his space on the Lower East Side.


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