New Foreclosures Drop in Brooklyn
Foreclosure results for the five boroughs were mixed in August, according to numbers just released by Property Shark. Staten Island and Queens saw increases in both year-over-year and month-over-month numbers, while the Bronx, Manhattan and Brooklyn saw declines in both numbers. In Brooklyn, the number of new foreclosures dropped from 31 in August 2009 and…
Foreclosure results for the five boroughs were mixed in August, according to numbers just released by Property Shark. Staten Island and Queens saw increases in both year-over-year and month-over-month numbers, while the Bronx, Manhattan and Brooklyn saw declines in both numbers. In Brooklyn, the number of new foreclosures dropped from 31 in August 2009 and 37 in July 2010 to just 20 last month. (Click through to the jump for a map of the Brooklyn properties in question.) The big question is whether the trend is your friend or this is just the calm before the pent-up storm.
“All you’ve got BHO is a hypothesis.”
A damned good one so far. And an LP’s don’t have to make it all the way to auction to indicate that prices are headed for further collapse. The formal NYC foreclosure process is notoriously slow enough to make all-cash shortsales a smarter practice for banks.
Until proven otherwise, I’ll assume that elevated lis pendens activity is directly proportional to elevated distress and thus shadow inventory.
Brownie said it best: “pent-up storm”.
***Bid half off peak comps***
I’ve seen couches covered in plastic, but never one sporting a tinfoil hat.
Yep, too much regulation caused the crisis–that is clear. Regulation that induced, promoted, and even forced loans to be made; government regulation that created a “buyer” and/or guarantor for loans that, in less regulation-distorted market, would not have been made.
The jig is up. The Democrat (and yes, Republican) social policy regulating morons are in for a bloodbath this fall. Conservative, anti-Democrat, anti-socialist officials will take their place.
There will be crying and loathing on the streets of Park Slope and the Upper West Side–CAN’T WAIT!
“obscure the issue by bogging it down with long-tired partisan rhetoric”
So, then, just what is the “issue”? What causes the meltdown? Or did it just happen? Or was it too little regulation? Or was it GREED? Yes, must have been greed (as if that was invented in the last decade, or in the last century…)
All you’ve got BHO is a hypothesis. I don’t have data on % of LPs that are foreclosure-related, because the data would come from actually reviewing complaints. But you don’t have data and it is your hypothesis. For LPs to prove your point, you would need to show: 1. trend in increased ##s of LPs even as foreclosures drop; 2. majority of LPs are foreclosure actions; 3. most foreclosure actions result in foreclosures rather than payment or settlement. Without 1, 2, and 3, you have no factual basis to dangle LPs as evidence of some shadow inventory in the pipeline or likely spike in future foreclosures. But you like to assume your way to your assertions, rather than get data on all fours.
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Sheer idiocy to blame credit crisis and housing bubble on too much regulation. Gee, if only we’d given the banks and wall street more freedom to do as they pleased? But no, government had to hold a gun to wall street’s head and force it to securitize mortgages into ever worsening bundles, and force the banks to make loans without documentation of income and assets. These things would never have happened if the banks were just allowed to use their own good judgment.
Nothing wrong with correctly-placed blame.
You are afraid of blame. My guess is that you voted for Obama. You live in a bubble of fact ignorance and of feelings. Thankfully, most Americans (at least outside NY) don’t, which is why the Dems are going to be gone in November–CHANGE!
“Because anything that’s not leftist or liberal BS”
Thanks for proving my point. Quite nicely, in fact. I’m out. Spew your shit to someone who cares to read it.
“annoy people”? Because anything that’s not leftist or liberal BS annoys people in that bubble. Oh, cry me a river, and grow up.
I’m not afraid of blame. I’m just sick and tired of people like you trying to obscure the issue by bogging it down with long-tired partisan rhetoric that serves no purpose but to annoy the shit outta people trying to have a decent discussion. But don’t let me stop you. Carry on —–>