Homeowner Stability, Displacement in East Brooklyn

WHAT YOU’LL LEARN

• How to use change-of-address data to track where homeowners have moved
• What connects redlining, the foreclosure crisis, and gentrification, as well as low- and moderate-income homeowners and their tenants
• How low- and moderate-income homeowners are threatened by gentrification, and how to implement policies to keep them in place

MORE SESSION DETAILS

This session will cover the Center for NYC Neighborhoods’ recent research on homeowner stability in gentrifying East New York, Brooklyn. Recently upzoned by the City, this area is home to a large community of low- and moderate-income homeowners of color, many of whom struggle with foreclosure, the costs of maintaining aging homes, and delinquent tax and water charges. Many also have unregulated rental units on their property, which they rent to some of the poorest households in New York City. The combination of a large number of financially vulnerable homeowners with a wave of speculation raises concerns that homeowners are increasingly moving out of the neighborhood, often pushed out by foreclosure, unsustainable costs, and/or property-related scams.

Based on qualitative and quantitative research, this presentation highlights the challenges facing homeowners and renters in 1-4 unit homes in East New York, along with the housing market trends driving their displacement. Next, we use change of address data to explore the places families who left the neighborhood have moved across the region and country. Finally, we will offer policy recommendations for ensuring homeowner stability in East New York and other neighborhoods targeted for upzoning or experiencing rapid rises in property values.