The current economic turmoil is taking a tremendous toll. Home foreclosures are common, market-rate condominium sales have stalled, owners of over-leveraged developments are defaulting, and unemployment is rising. This panel, hosted by the Center for New York City Affairs, explores the impact of the economic crisis on New York City housing by considering questions like the following: How are neighborhoods faring in the recession? Can Mayor Bloomberg's market-driven affordability incentives continue to work? Are there sufficient government resources to take advantage of declining real estate costs and other opportunities? What's working and what's next?

Speakers include: Rafael Cestero, Commissioner, NYC Department of Housing Preservation and Development? Martin Dunn, President, Dunn Development Corporation Ismene Speliotis, Executive Director, New York ACORN Housing Company, Inc. Mark Willis, Visiting Scholar, Ford Foundation

Moderator: Manny Fernandez, reporter, The New York Times

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Supported by the Milano Foundation and the Sirus Fund.