The problems affecting Housing Development Fund Corporations—affordable housing co-ops in New York City that have given some West Harlem residents a rare opportunity for homeownership—are complex and varied. Watch the video for a run down of the major issues impacting HDFCs and the reason some shareholders are worried about the future of their current homes.
For a more in-depth discussion of HDFCs, read Spectator's three-part series on the issue. Part one looked at a recent rise in foreclosures among HDFCs. Part two focuses on management problems in some HDFC buildings. Part three explores sales trends of HDFCs in Harlem.