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» VISIT US ONLINE @ DSNEWS.COM 77 New York STRENGTH THROUGH LEADERSHIP WISDOM THROUGH EXPERIENCE Mitigating Your Risks and Maximizing Your Returns NEW YORK'S FINEST PROVIDER OF DEFAULT REAL ESTATE SOLUTIONS SINCE 1988 Todd Yovino Broker/Owner Island Advantage Realty, LLC Serving Metro New York & Long Island Todd@iarny.com | 631-820-3400 www.islandadvantage.com New Jersey Lisa G Lopez Broker of Record Home Alliance Realty 142 E. Bay Ave Manahawkin, NJ 08050 609-978-9009 (o) 609-384-5109 (c) lglopez@verizon.net www.HomeAllianceRealty.com www.LisaLopezProperties.com price growth, which were strongest in the West and weakest—although still relatively robust— in the Northeast, the study indicated. However, "it is also possible that households' enthusiasm about housing as an investment— despite the negative experience from the 2007-12 drop in house prices—helped sustain the house price recovery postcrisis," the researchers noted. In fact, residents in the West expected the most home price growth over the next year, predicting a 5.61 percent increase, compared to residents in the South who predicted a 5.12 percent rise in their region, residents in the Midwest who predicted a 3.72 percent increase in their region, and those in the Northeast who anticipated a 3.64 percent rise in their area. In its most recent report, the Fed also zeroed in on areas impacted by recent natural disasters to determine whether those disasters impacted residents' outlook on housing. While the percentage of those who said they viewed housing as a "bad" or "very bad" investment demonstrated an uptick, so too did the percentage of those who viewed housing as either a "good" or "very good" investment. "Overall the recent natural disasters do not seem to have dampened enthusiasm about housing, although views may have become more dispersed in response to this shock," according to the Fed. While the majority view housing as a good investment, the percentage who view it as an easily attainable investment declined over the year. About 17 percent of renters view obtaining a mortgage loan as "very easy" or "somewhat easy," compared to about 20 percent a year ago, according to the Fed's data. Renters revealed a waning enthusiasm for homeownership with about 67 saying they preferred owning, compared to 72 percent a year ago and 74 percent two years ago. However, the preference for renting was primarily driven by those who were 50 years and older. Goldman Sachs Mortgage Relief Settlement Actions Near $1B Goldman Sachs, headquartered in New York, is approaching the billion-dollar mark for mandated consumer-relief actions stem- ming from two mortgage-related settlement agreements with the U.S. Department of Justice and three states. Professor Eric D. Green, who serves as independent monitor for the company's consumer-relief agreements, announced this week that Goldman Sachs has thus far provided $993,420,822 in consumer relief, or 55 percent of the $1.8-billion target. Green, a professional mediator and retired Boston University law professor, was charged with responsibility for determining whether Goldman Sachs fulfills its consumer-relief obligations. Since his previous report on February 15, 2018, Goldman Sachs has forgiven $61,610,295 in principal on 666 first-lien mortgages, Green reported. e average principal forgiveness for the loans was $92,508, and the reportable credit toward the total owed was $75,278,610, "after the application of appropriate crediting calculations and multipliers." e modified mortgages were located in 41 different states and the District of Columbia. Green also reported that 26 percent of the relief occurred in New York, Illinois, and California, and 45 percent of the credit was in the Hardest Hit Areas, "census tracts identified by the U.S. Department of Housing and Urban Develop- ment as containing large concentrations of distressed properties and foreclosure activities." According to the media statement, the 2016 Goldman Sachs settlement stemmed from "legal claims against Goldman Sachs regard- ing the marketing, structuring, arrangement, underwriting, issuance, and sale of mortgage- based securities." Goldman Sachs settled with the DOJ, California, Illinois, and New York, as well as the National Credit Union Administra- tion Board and the Federal Home Loan Banks of Chicago and Des Moines. Goldman Sachs has until the end of January 2021 to meet its requirement of paying "a total of $5.06 billion, including consumer relief valued at $1.8 billion." NYC Property Investment Revisited At the height of the financial crisis in 2008, there were some people who bought or invested

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