NYC Housing Shortage Likely to Worsen | Daily Business News

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Reporting from New York City, observer says the return to normalcy in parts of the battered city, from the homes that burned to those that washed away, will be many months. Owners of one expensive high rise in lower Manhattan do not know when their units will be habitable, and are releasing tenants from their leases. The vacancy rate is one percent in the city, a little higher in the boroughs. In addition to the 40,000 homeless, there are thousands currently displaced by Hurricane Sandy, including many with limited means in the outlying areas. In addition, those still in their homes sitting in the dark with no heat as the weather gets colder will soon be looking for warmer quarters. ?There?s a huge fear that folks are going to be displaced for the medium and long term,? city housing commissioner Mathew M. Wambua told The New York Times. Modular FEMA units will likely supplement apartments, MHProNews has learned, and officials want building owners to help create a clearinghouse of available units. If they accept FEMA vouchers, owners want to be indemnified by the government for damages and legal costs of evicting tenants.

(Photo credit: Country Living?modular in the city)

Categories: Factory-Built Homes, Modular, News Item, Trends Tags: boroughs, clearinghouse, commissioner mathew, damages, evicting tenants, FEMA, fema vouchers, homeless, housing commissioner, housing shortage, hurricane, leases, lower manhattan, MHProNews, New York City, new york times, outlying areas, quarters, return to normalcy, vacancy rate, weather

Source: http://www.mhmarketingsalesmanagement.com/blogs/daily-business-news/nyc-housing-shortage-likely-to-worsen/

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