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NYC Department of Housing Preservation & Development
Press Room

FOR IMMEDIATE RELEASE

October 2, 2000

Press Contacts: Carol Abrams (212) 863-5176
Kim Brown (212) 863-8076

HPD ANNOUNCES NEW HOMEOWNERSHIP WEBSITE: NYCHOME.ORG

New York City Department of Housing Preservation and Development (HPD) Commissioner Jerilyn Perine today launched "nychome.org," a new website designed to assist potential homeowners in searching for a home in the five boroughs. The website was created by HPD and the Housing Development Corporation (HDC), and launched during the City's fourth annual Homeownership Month. The website is supported by the Fannie Mae Corporation.

Mayor Rudolph W. Giuliani noted, "With all the positive change that has taken place in New York City over the past six years, there has never been a better time to own a home here." The website, featuring photos and detailed information on neighborhoods across the city, vividly illustrates the reasons to live in New York City. Information about other New York City neighborhoods will be added to the website periodically.

The site is aimed at New York City renters as well as potential homeowners who are relocating to the area. According to a recent survey conducted by HDC, 60% of New York City renters who plan to move say they will most likely buy. This website gives the prospective homebuyer all the tools to search for, evaluate, and purchase a new home in New York City, including information on:

  • the homebuying process: from making an offer to closing on a new home, and all the steps in between;
  • resource numbers and contact information for homebuyers and homeowners;
  • diverse New York City neighborhoods;
  • the investment advantages of homeownership versus renting;
  • the financial advantages of purchasing a home in New York City versus the suburbs;
  • calendar of events listing classes and seminars related to homeownership.

Research has shown that homeownership corresponds to increases in wealth creation, neighborhood stability, and educational achievement. Currently in New York City, only 3 in 10 residents own their own home or apartment. As Commissioner Perine noted, "Homeownership is important because it helps former renters build equity and savings with a long-term investment." With the launching of "nychome.org," HPD and the City of New York are taking another step toward strengthening New York City's communities.

There is also a companion booklet to the website "8 Steps to Becoming an NYC Homeowner" for those without web access. Please call 212-863-8000 to request the booklet.

HPD is the nation's largest municipal housing preservation and development agency. A major responsibility of the agency is to encourage preservation of affordable housing through education, outreach, loan programs, and enforcement of housing quality standards.




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