Since the housing bubble burst in 2007, many homeowners across the nation have faced foreclosure.

The number of Hispanic-owned businesses in New York State totaled 193,200 in 2007, the latest year for which data are available. This represented an increase of 85.4 percent compared with the 1997 level, or nearly three times the rate of growth in the total number of businesses in the State. 

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New York City has a serious lack of affordable housing. The New York State Comptroller issued a report on affordable housing in April 2009 that utilized data from the 2008 New York City Housing and Vacancy Survey (HVS), which is issued every three years.

Coney Island and Brighton Beach are located on a peninsula in southern Brooklyn, along the Atlantic Ocean. The oceanfront location, along with access to mass transit, helped shape the development of these neighborhoods, which became a summer resort and home to the country’s oldest amusement area.

The neighborhood of Flushing, located in northcentral Queens, has a rich history steeped in religious tolerance and cultural diversity. Founded in 1645, Flushing was the first permanent settlement in Queens.

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New York City’s tradition as a melting pot of cultures is vividly on display in the Queens neighborhoods of Corona, Elmhurst, East Elmhurst and Jackson Heights. These neighborhoods, which are located in northwestern Queens, have the highest concentration of immigrants in New York City.

The greater downtown Brooklyn area is the civic center of Brooklyn and includes the largest business district in New York City outside of Manhattan.

The greater downtown Brooklyn area is home to world-class arts and cultural organizations, such as the Brooklyn Academy of Music (BAM).

Since the 1970s, farmers’ markets have multiplied and become more popular in New York City and throughout New York State as the locally grown food movement has gained momentum.

This report is the third issued by the Office of the State Comptroller since 2009 concerning affordable housing in New York City.