Q1: Manhattan Foreclosures Go From Low To Lower, None In LIC
Manhattan Map (L), Queens (R).....Maps Courtesy of Property Shark
A special thanks to curbed.com for waking me up to the latest foreclosure report.
As has been the case over the course of this housing crisis, the foreclosure wave has continued to leave Manhattan virtually untouched. Foreclosure filings in Manhattan dropped 26% from the same quarter last year- from 23 to 17. Of the 17, only 3 were below 110th Street, and there were none on the Upper East or Upper West Sides.
In Queens, which leads NYC with 577 foreclosures (up 15% year over year), the carnage is confined to Central and Eastern parts of the borough. Long Island City, for instance had zero foreclosure filings.
Quarter 1 Foreclosure Report: Brooklyn Plummets, Bronx Pops (Curbed)
Property Shark Foreclosure Report (Property Shark)
*ahem*
ReplyDeleteForeclosure moratorium by most banks means very few foreclosures since late fall.
I think those are expiring now, but they may just continue them indefinitely, as banks just don't want to be taking on the costs of owning any of these properties, let alone seeing them marked to market at an auction.
I agree that this impacts numbers, however, in regards to Manhattan, check the numbers, Manhattan has not had a foreclosure problem at any time during this crisis.
ReplyDeleteA couple of my friends loses their houses, they were so devastated when they had to gave the keys of their home.
ReplyDelete