Archive | Economy

Could New York City’s Requirement to Build Affordable Housing Effect a Taking?

New York City Mayor Bill de Blasio has pledged to create or preserve 200,000 affordable units of housing in the next decade.  Among the several proposals being considered, one idea is to amend or remove a controversial real estate tax abatement available under section 421-a of the Rent Act of 2011.  The abatement gives developers a property tax break, in decreasing amounts, over a 25 year period.  The statutory authority for abatement expires this Spring.  In certain neighborhoods in the City, developers must set aside a percentage of units which… read more

Posted in Economy, Eminent Domain, New York, Published Articles, Real Estate, tax abatement, Zoning
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The 2015 Real Estate Economic Forecast

Dr. Mark Zandi, presenting the 2015 Economic Forecast held by the Metropolitan New York Chapter of the Appraisal Institute I attended the 2015 Economic Forecast held by the Metropolitan New York chapter of the Appraisal Institute as the guest of William Picoli, MAI. The guest speaker was Mark Zandi, PhD, the Chief Economist of Moody’s Analytics. Dr. Zandi is one of America’s leading economists. He was optimistic about the 2015 economy. He predicted that 2015 would be a good year, and so would 2016. He predicted that the economy would… read more

Posted in Appraisers, Economy, New York, Real Estate
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