To slow the loss of affordable housing a "flip tax" would discourage speculative buying of one- to five-family homes in New York City. A flip tax would have no impact on prospective home buyers, but would weaken the potential return on flipped properties by imposing a steep tax on properties sold within two years of their original purchase.
New York City Housing Authority (NYCHA)
NYCHA provides housing for more than 400,000 New Yorkers, and manages community space for more than 250 non-profit run community centers, child care centers, and senior centers. Unfortunately, after years of Federal and State divestment, NYCHA has an immense capital improvement backlog. UNH advocates for the establishment of a capital fund dedicated to non-profits operating out of NYCHA-based sites to empower them to address pressing capital needs.
Rent regulations protect New York City tenants and keep apartments affordable for long-term residents, slowing the displacement caused by gentrification and rising rents. UNH supports the renewal of rent regulations in 2019, the repeal of the vacancy bonus (which can financially motivate landlords to harass their long-term tenants), and the repeal of de-regulation laws that led to the loss of 152,000 regulated apartments since 1997.