McDonough: Zombie Properties A Detriment To Long Island, Legislature Needs To Act
Assemblyman Dave McDonough (R,C,I-Merrick) today called on legislative leaders in the Assembly to address the growing problem of zombie properties that adversely affect thousands of Long Island residents. McDonough applauded the Department of Financial Services’ announcement last month that industry leaders had agreed upon “best practices” to deal with these abandoned dwellings, but said the Legislature needs to act immediately before the problem escalates further.
“Parts of my district have some of the highest instances of zombie properties per one thousand compared to the rest of the state,” McDonough said. “During my years in the Assembly, I have seen this problem grow, exacerbated by the great recession, housing market collapse of 2007 and Superstorm Sandy. It is unfortunate that responsibility for maintaining these properties is often juggled between financial institutions and the previous owners, leaving the dwellings vacant for long periods of time and a hotbed for squatters and criminals. I am calling on legislative leaders to take immediate action and set specific guidelines for the upkeep of these properties. Our communities should no longer pay the price for others’ lack of responsibility.”
New data from RealtyTrac showed that on May 28, 2015, Nassau County had 1,956 properties foreclosed and officially classified as zombie properties. New York State has over 17,000 dwellings classified as zombie properties and home values on Long Island depreciated about $295 million last year as a result.