Source: Greenberg, D. M., et al. (2024). Housing Speculation, Affordable Investments, and Tenant Outcomes in New York City. Cityscape. Available at: https://bit.ly/4aadqAz
Note: Properties were identified as being subjected to speculative mortgage refinancing practices based on records from 2016-2017. Data on maintenance code violations are based on the years 2018-2020. Speculative mortgage refinancing can be understood as utilizing “cash-out” refinancing strategies to refinance a mortgage on a multifamily property for a larger amount than the previous mortgage, typically for the purpose of utilizing equity to fund other investments.