Bronx Housing Protest

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Bronx Housing Protest Video Clips. Duration : 2.08 Mins.

We had a good read. For the benefit of yourself. Be sure to read to the end. I want you to get good knowledge from Today Mortgage Rates . CHAN: Affordable housing is one of the biggest issues facing New York City residents. In the Bronx section of the city, tenants of one of the buildings were making their voices heard to prevent a bank from buying out their building. Their building is known as the birthplace of hip-hop music. STORY: Residents of 1520 Sedgwick Ave. in the Bronx are fighting to keep their homes. Joined by New York lawmakers, they're voicing opposition to a potential buyout of their apartment building. [Gloria Robinson, Tenant]: I'm not too happy with the situation that's going on. It's a situation where if the person buys this building and goes at the market rate, a lot of people will be forced out of their homes and I myself cannot afford it. The building is currently protected by the Mitchell Lama program, which helps keep rent at affordable rates for low and middle-income families. But now the owner wants to withdraw the building from the program in order to sell it to private investors. [Aurelia Greene, New York Assemblywoman]: The state of affordable housing here in our borough and throughout the city continues to diminish, as those buildings that are deregulated become condos and co-ops to those in higher income brackets. Also supporting the tenants is US senator Charles Schumer. He says what residents are facing is similar to what's happening in the national mortgage crisis. [Charles Schumer, US Senator]: This is the New York City version of the subprime crisis. In the subprime crisis ...

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