“Scary and completely unsustainable.” Rent-stabilized buildings can’t pay their mortgages & the banks holding their loans are in serious trouble

Send us Fan MailPlus, why does rebuilding after a fire take so long? And New York is the only place we know that ties rent stabilization to a perpetual housing emergency – thereby maintaining a perpetual disincentive to build new housing.This is your New York Apartment Association weekly update with CEO Kenny Burgos.Follow NYAA on BlueSky: @housing.bsky.socialFollow @housingny on Instagram X TikTok YouTube & Substack Send us comments or questions at [email protected] On The Agenda1:34: Rent-stabilized buildings & the banks holding their loans are in serious trouble     → Flagstar, formerly NYCB, dumps $142M in rent-stabilized loans       → Flagstar reports 500% pop in past due debts as rent-stabilized purge continues    → Bank’s multifamily loans at default risk skyrocket       → SEC asks New York banks to reveal their exposure to rent-stabilized loans    → Extend-and-pretend still reigns supreme3:32: Why it takes so long to rebuild after a fire5:23: Glorifying rent-stabilized tenants (and what gets lost)6:48: The latest on rent stabilization in Kingston8:35: Albany legislative sessionVisit our website for more information.Follow Us:BlueSkyXInstagramTiktok