Report: Immigrants Hurt Most By Housing Market
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A new report says the national housing crunch is going to hit the city's immigrants the hardest.
The Pratt Center for Community Development released a study Wednesday in Manhattan's Flatiron District, saying the city's roughly three million immigrants are in a difficult position because of landlords who have allegedly exploited them.
"The strategy was premised on ever-rising property values and rents, it's just like predatory lending," said Brad Lander of Pratt Center. "It's going to hit these buildings very hard, then owners are going to be in foreclosure, then owners are going to be in bankruptcy. And then, tenants are gonna continue to be pressed for higher rents at the same time that they see poor services."
The study also found that immigrants have largely been left behind by publicly subsidized housing programs. Only 32 percent of immigrant black and Hispanic New Yorkers live in such housing, compared to 50 percent of native-born blacks and Hispanics.
The study also says more than 56 percent of immigrant renters pay more than 30 percent of their income on rent, compared to 47 percent of native-born tenants.