Mortgage Lenders Tighten Screws on NYC Home Buyers

Erin Hudson

Tue Nov 03 2020 05:00:00 GMT+0000 (Coordinated Universal Time)

The hurdles to accessing financing for the few homebuyers seeking to purchase in New York City is a gut punch to the city’s depressed housing market — that reveals institutional uncertainty and a lack of confidence in the city’s future, according to experts and industry insiders. The biggest concerns center on declining property values, potential new taxes and rising unemployment.