Although the foreclosure crisis has not hit NYC as hard as the rest of the country, new figures released today show more New Yorkers are losing their homes; NY1 reports:
Numbers by Realty Trac, an online real estate service, show city foreclosures are up 34 percent during the first three months of this year, compared to the first quarter of 2007.
That pales in comparison to the 112 percent increase around the country and 40 percent in New York State overall.
Still, rates are up in all five boroughs — with more than 6,200 homeowners unable to pay their mortgages. The highest foreclosure jump since last year is on Staten Island, then Manhattan — followed by Queens, the Bronx, and Brooklyn.
Experts tell the New York Post that the state’s lengthy foreclosure crisis could mean more homeowners are set to lose their homes.
According to a U.S. Census Bureau report, a record 18.6 million homes around the country were vacant in March.
No surprise there. Just travel around in Flatbush and you can find all of the open house signs.