New Report Says Brooklyn Foreclosures Up 27%
Another week, another new set of abysmal foreclosure stats, this time from RealtyTrac via a report in the Post. RealtyTrac’s numbers for the first quarter of ’08 show that one in every 241 Brooklyn homeowners is now in the foreclosure process, more than double last year’s rate. New York-area foreclosures are up 34 percent. RealtyTrac’s…
Another week, another new set of abysmal foreclosure stats, this time from RealtyTrac via a report in the Post. RealtyTrac’s numbers for the first quarter of ’08 show that one in every 241 Brooklyn homeowners is now in the foreclosure process, more than double last year’s rate. New York-area foreclosures are up 34 percent. RealtyTrac’s data takes into account that the city’s foreclosure process is very long, and a company rep says we probably haven’t reached the bottom yet. “We are still waiting for the other shoe to drop,” says RealtyTrac spokesman Daren Blomquist. Rep. Nydia Velazquez says more of her constituents are calling her up as rates rise on their ARMs. “They call because they don’t know what to do,” she says, also noting that she expects the situation to get worse. RealtyTrac’s report on New York foreclosures differs substantially from Property Shark’s first quarter report, which said there had been a 66 percent rise in the number of new foreclosures scheduled in New York City in the first quarter of this year. The difference in stats may be rooted in the fact that Property Shark only tracks new foreclosures. Either way, the news ain’t good.
Metro Foreclosure Rate Soars 34% [NY Post]
Graphic from the Post.
“The lets refute them without a ad hominem attack.” – The What.
Apologies for ever saying The What is anything less than hilarious. He didn’t really just say that, did he??
11:48 – based on your post, perhaps you should have stated artists OVER 45.
arts professional = oxymoron
that’s why i said, per se. i don’t make a ton, i just happened to be lucky on a home purchase. i find that different than the people you are describing…those who make 500K a year as the only people buying in park slope. i make a very modest salary but bought my home in cash. and home worth is paper wealth. you have a bad temper. and are clearly not happy.
OMG, what is wrong you with you, all I’m saying is Park Slope was able to improve so much because ALL of Brooklyn improved, and none of you Slopers will even consider that concept.
SO elitist.
By the way, if you own a house worth 2 million that you paid for using the sale of an asset, you are a millionaire. You count assets not just income.
Goodbye silly stupid people. I have work to do!
I just bought a house in Park Slope and am not a millionare, per se. I just happened to buy a place on the UWS for 250K and sell it for 2 million. Lots of people like me here in Park Slope. And yes, I work in the arts, as does nearly every person on my block. I believe the latest study I saw said that PS has the highest concentration of arts professionals in the city, in fact. 11:43…you have a very narrow minded view of the world.
Rents are coming down??? Wow.
So you mean I can now get a 1 bedroom in the West Village for $3000 instead of $3030??
(yes, that was the decrease).
Sorry, I don’t feel like throwing $36,000 a year for the rest of my life down a toilet.
And by toilet, I mean into my pocket!!!!
BTW, the vacancy rate in Manhattan is 1%.
Up from less than 1%. Sounds like the end of the world!!!!!
I’m married and happy, 11:33, sorry.
Say whatever you want but people who need to compete constantly and always feel better than everyone else are not happy people. Truly happy people don’t have anything to prove to anybody.
As for what people in Manhattan thought of Brooklyn in the 70’s, sure, fellow artists thought of Park Slope as viable. Not gentrifying millionaires. Not the people buying houses in Park Slope now. I remember visiting NYC in the early 90’s and even then upper income people never thought about buying in Brooklyn. Brooklyn rose up all together as a borough. Not in bits and pieces. Some areas are better and will always be better. But the improvement in those areas would NEVER have happened without ALL of Brooklyn improving. That’s always been my topic. Never changed the subject.
“It’s more than that, maybe you should leave NY for a while. travel to other parts of our great nation.”
Nope, it’s actually .4% in NYC.
So that would be LESS than 1%. Wow you’re stupid.
We don’t live in Las Vegas. If you think NYC is like the rest of the U.S. you need to cross the river and come visit us a little more often.
I know things are really bad in Jersey right now, but come on. Up until the real estate crisis, everyone thought NYC was a total separate entity than the rest of the country and now all the sudden that it’s tanking, we are JUST LIKE Vegas, Phoenix and Miami??
So stupid.