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Report: Investors Bought Two-Thirds of NYC's Affordable Homes in 2017

Investors dominate the affordable homeownership market in New York City.
October 27, 2018, 7am PDT | James Brasuell | @CasualBrasuell
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"Nearly two-thirds of affordable homes were purchased by investors in 2017, according to a report released this week," reports Joe Anuta.

The report, by the Center for New York City neighborhoods, "found that 62% of affordable homes—which it defines as a property a household making the median income could purchase with a mortgage—were purchased mostly with cash in 2017 by limited-liability companies, frequent buyers of homes, or entities that flipped the property within a year."

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Published on Thursday, October 25, 2018 in Crain's New York Business
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