Affordable housing emerges from the 2008 housing crisis

Attorney General Eric Schneiderman has brokered a deal with Bank of American and CitiBank to help rehabilitate or construct more than 3,500 affordable units in New York State. Developers will receive low-interest loans for projects throughout the state, although the majority will be situated in New York City. This agreement is part of the banks’ punishment for their involvement in the 2008 mortgage crisis. 

For once, the consequence fits the crime. 

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