Neighborhood Associations (
Proposed December panel discussion/presentation
December 3, 2008 – 6:30 pm –
Public Library Auditorium
Allotted time: 45
Topic: Is there
a housing crisis in
With less than encouraging news reports touting a national
crisis in housing and mortgage lending, do these same stories apply to the
greater Capital District and in particular, the City of Albany?
What are the realities of our market and where might we be heading?
This roundtable presentation with three perspectives will
afford the audience an insight to the realities we face locally.
The program would begin with a five minute synopsis from each presenter
followed by questions directed to the panel by a moderator.
(It has not been determined whether there will be need for
Each synopsis would address specific concerns the public
would have, such as:
James Ader, CEO, Greater Capital Association of Realtors
what is happening in the region relative to number of properties being sold
in 2008 versus a similar period in (for example) 2002 & 2006?
has happened to the average sale price using the same criteria?
does the City of
compare to the region?
there other factors affecting reported prices, such as seller’s
concessions and are these still popular or permissible?
the stats presented be divided as to reflect the different parts of the city
Paul Hurley, HSBC
has happened to the availability of mortgages?
credit tightened up?
are the new qualification criteria?
are the options for resolving problems with mortgages?
are “work-outs” and how many institutions are making them available?
is the first-time homeowner tax credit and how does it work?
Not for profit representative
Susan Cotner, Executive Director, Affordable Housing
is the current availability of assistance programs, both income-based and
how do these compare with what was available in 2002 & 2006?
does the Capital District compare to
many foreclosures have occurred in (for example)
this year versus 2002 & 2006?
percentage of participants experienced difficulty in meeting commitments in
2006 and 2008?
does the city rate of foreclosures compare to that in the county?
is projected for 2009 in program assistance?
other initiatives are expected to foster ownership?
In the roundtable discussion, the possible questions
addressed to the group might include:
does each of you see our local economy and where do you expect the housing
market to be heading?
our market is benefitting by an influx of companies and their employees
associated with R&D, where are these people moving to and are they
renting or buying?
term “affordable housing” has attained a different meaning with the
median value becoming less affordable to many people including the
traditional lower income and more frequently, lower middle income families.
What responsible measures can be taken to enable people to attain
steps can a prospective buyer take to improve their ability to succeed in
buying a property in the near-term market?
If time permits, questions could be taken from the