Wednesday, April 2, 2008

Foreclosures hit Queens the hardest

The number of city homes on the foreclosure auction block surged dramatically in the first quarter of 2008, a report released Tuesday revealed.

Queens sees biggest jump in city housing foreclosure auctions

The biggest jump was in Queens, where the number of foreclosure auctions was 90% higher than the last quarter of 2007, according to, a real estate Web site.

"While Manhattan foreclosures are almost nonexistent, Queens has single-handedly taken New York City foreclosure levels to new heights," said PropertyShark's Ashleigh Rose Clark.

Citywide, foreclosure auctions were set for 918 homes in the first quarter of 2008, a 52% jump over the 606 homes put up for auction in the fourth quarter of 2007.

The city has 3 million households.

1 comment:

Anonymous said...

Just what the clubhouse ordered1

Now they can clear those neighborhoods of what they've long considered "those undesirables"....
thus paving the way for
"luxury" projects
and thereby increasing the level of over-development!