Unfly House - New York City - New York (NY) - Page 5 - City-Data Forum

yodel · 03-22-2018, 06:06 PM

Quote:

Originally Posted by upthere22

I have no issue with an HDFC selling for over a million, if thats below fair market value. HDFC are not public housing. if the city keeps taking away the equity of HDFC owners they have the right to drop from the program and sell at open market value ( taking away more affordable housing). any attempt to cap the value of an HDFC will only take way more equity from the owners making the program worthless for Coop owners, they will just pay full property tax and have their coops sell at full market price.

You said that the city is taking the equity of HDFC owners? In what way?

upthere22 · 03-23-2018, 08:42 AM

Quote:

Originally Posted by yodel

You said that the city is taking the equity of HDFC owners? In what way?

I say, if they cap the resale value they will take away the equity. right now they are not. But the proposal to cap the resale price will. the format that HDFC works now is limited equity as the flip tax works against the appreciation of apartment therefore discouraging investors to purchase.