Policy Brief | Sep. 2008

Closing the Door 2008: Subsidized Housing Losses in a Weakened Market

Victor Bach, Thomas J. Waters

Summary: New York City’s supply of subsidized, privately owned rental housing continued to erode at a very past pace in 2007, but there were significant changes in the pattern of loss compared to the previous three years, reflecting the great increase in the difficulty of obtaining credit for all kinds of investment since the middle of last year. This paper updates the analysis of the crisis in subsidized housing contained in our previous papers, and it considers the factors that will influence whether the erosion of this stock will slow, or whether we will continue to experience the fast pace of loss seen since 2004.

Issues: Affordable Housing

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Closing the Door 2008 (Summary)

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