From abandoned to affordable, thousands of homes creating eyesores in city neighborhoods could soon be a beacon of hope in a tight real estate market. CBS2's Lisa Rozner has more on "zombie homes" in this exclusive report.
Abandoned homes have issues such as mold due to leaky roofs, so I suggest extreme caution when purchasing. It may look decent after the rehab, but the owners rehabbed them to sell, not live in. Banks are notorious penny pinchers; they'll cut corners whenever they can get away with it.
600k and you have rats running around everywhere, eating through your garbage. God forbid you do a little planting in the backyard, the possums, raccoons and rats will have a field day.
When I finally had enough to possibly buy a house or a condo is when the market spiked up and basically could no longer afford to. I’m sure by the time I have saved more. It will increase again…. At least I no longer have high hopes and I’m just accepting it for what it is.
@@yellowrice1453 I'm exactly in the same position. I've been camping on my parents good will for longer than I'd like. But it's given me the opportunity to save up even more. Hopefully by next year the market crashes and houses atleast go back to normal.
"Fix'in" them up so the city can get tax revenue and investors can buy and rent out at unaffordable rates. Nothing to do with helping "po fok" housing.
Exactly with small property size we left to jersey 50 minutes from work in manhattan and we got 100x100 3 bedroom 1 family home for 350k with 20/30 feet between our neighbors on both sides
When people think of housing as an investment, they do everything they can to limit the supply of housing. When no new dense housing is built, the price of the available units goes up. When zoning and building height restrictions disappear, and more housing can be built, housing will be affordable.
HPD should be ashamed of itself. $638K+ is NOT AFFORDABLE for us AA here in NYC. That 1 B/R co-op in BedStuy is better than dealing with a house pushing into $700K & the upkeep.
Don’t you think the next people who they let purchase the house are going to get it foreclosed as well …obviously these people can’t pay that much …this is a sick cycle
Why does it have to be a lottery system for those applicants wanting to buy a home? Why can't they process applications based on income levels, family size and credit worthiness?
All those factors are part of the lottery. There a lot of working class NYC residents that have excellent credit,but moderate income. Yet,they have strong, steady employment history. The lottery is a fair way to award the home to one of the many low income residents in the city.
It's abandoned EVERYTHING (empty lots, warehouses, old businesses and homes) in the city & the owners of these properties don't sell they just sit on it.
There's a reason why those houses are dilapidated. The communities that they're in. I don't care how cheap the cost of living there . I think I'm going to catch a bullet by simply sitting in my living room I'll pass. Location, location, location!
What do you do with acres of land? Shoot things for meat and start a small farm for self sustaining life style is the only thing I can think of, but that is a lot of work. I suppose with the extra money I have from moving to a very cheap area I could quit my job and do the hunting/farming full time. But that feels like moving backwards about 150 years in the course of human civilization
@@PelosiStockPortfolio Not really. My hubby and I left for down south. We're 30 mins from ATL and he works in Tech. You can find some nice homes with Land and still have essential amenities. We paid under 200k for a 4 bedroom with 6 acres.
this is wickedness with what going on in Queens, me and my husband have to live separately because we cannot find a home, we have to go on a 10 years waiting list while these homes are going to waste. I NEED A HOME
Damn woman MOVE ALREADY. Either move or rent an apartment together or move to another state/country. Stop just expecting welfare from the government to solve your problems. My family had to move off LI because we couldn’t afford a home there. We didn’t just sit around winging that the government needed to make us a house. FIX YA OWN PROBLEMS 👏
Archie bunker type homes in queens NY. Archie and George Jefferson bought them for 7 grand. AND Edith didn't HAVE TO WORK GREED, gentrification ruined all of that. As Archie would say, "those were the days!" Rest of the lyrics very apt, today!
Yes, those were the days indeed. Don't think they will ever be back. It is now very, very difficult for a person with a modest income to buy a home in a decent neighborhood. Many would be first time buyers are completely shut out of the market. Damn shame.
They’re expensive homes but people can’t afford them. If they just give them to the homeless randomly, they could become a trap house if that homeless person is an active addict.
This is not affordable! I work two jobs and make about $45k a year most years. I just went on the website and the MINIMUM income to purchase one of these is in the $90k range. If my household were bringing in close to six figures, I wouldn’t need this program. How are they helping LOW-Income families?
@@richardsearfoss5962 70k per person is way above the average mean of salary . I can see a 2 family household making over 100k but 140k might be a little much for the majority .
With those prices in NY the south isn't looking so bad after all. You can get a brand new home for a fraction of that price in the south. For the prices up there you can also have a home built from the ground up on a couple of acres of land.
The reason alot of us stay is the never ending potential, ability to attain more income. If you go to school & work decently hard you can make it. Maybe not become a millionaire persay lol but live comfortable. There's always a new buisness to be made that no one's thought of, or a job to fill 🤷
If you could pay rent it should be where you could buy a house, no taxes no property taxes, bad credit good credit they old house. credit score is a form to keep people down it should be a better way than lottery for someone to get a house it’s a necessity
Not even lol that house they showed is in the hood. Like why would you dump 600k into a run down hood house vs in the hood 700k and buy you a normal house? What is this??? I mean bruh
They’re expensive homes but people can’t afford them. If they just give them to the homeless randomly, they could become a trap house if that homeless person is an active addict.
Homeless people are homeless because of drugs and mental health issues. Also this just encourages people to be homeless. I’d 100% be homeless for 3 months to win a free 700k house if that was the reward for being homeless. We need to fix the causes of homelessness not just award free houses
@@LucasFernandez-fk8se homeless people are also homeless because of other reasons too 😂😂😭😭 you'd be surprised at some of the backgrounds these people have. It don't matter the cause.. the system completely failed lol they couldn't even service the internally displaced professionals changing careers because of a market reset. Y'all in for a surprise lmaoooo
They're ridiculous too expensive these homes. Be careful with all that black mold because if they cut corners with I'm sure they are as usual get a thorough inspection. They really need to lower the prices of these homes. Lets see how many squatters will take them over again lol. Even if I could afford that and get loan for that much I wouldn't buy in NY I would go out of state and get so much more for that money
$600K in the middle of Jamaica. That’s the hood. I would rather buy a home in Long Island. Sure the property taxes are higher but homes are a bit cheaper and neighborhoods are much quieter.
They only made $1mil in fees since 2017 so over 7 years, almost 8 years now. They probably have way more than 2 employees working on this program getting paid at least 50k each, so they have actually lost money.
Truly low income will still not be able to afford these homes. Even after "winning" this lottery you still have to meet certain income and credit parameters.
I think there should be laws that prohibit a person or company from Renovating houses in poor neighborhoods and push out the people that live there! They should fix up the current tenants house and keep the rent the same!. New Stove Fridge washer and dryer!. Pimp my Crib!.
It's tough, because there are a lot of slicksters run amok in that there, NYC. There are rich folk who send their kids to NYC Universities that take advantage of low-income subsidies because they know all the loopholes that allow them to. I could only imagine how they'd slime their way into these houses and flip them for more.
YEP! The way queens, NY USED to be Blue collar, all races, religions living affordability. George Jefferson and Archie bunker would FLIP, that generation, if alive today Those were the days! Archie was right! WW2 generation, NORMAL people Ethical, work ethic, believed in God, Sunday worship, or Saturday for Jewish people, family meant something, holidays weren't all about GREED. No gentrification BS Home owners associations. The old Normal, which was NORMAL The lyrics to, "those were the days," Archie sang, more apt than ever now! When America was America the great NOT 💰🤡😷👺👹🎭more 💲💲💲💲💲💲💲💲💲💲💲
