Monday, June 30, 2008

Foreclosures hit Jamaica hard

For many Americans the foreclosure crisis is nothing but a jumble of numbers and percentages, but here in the far edges of Queens, the human toll of the housing collapse is felt full force.

Foreclosures have popped up like weeds through the pavement, engulfing entire city blocks and profoundly altering people's lives.

In one of the highest concentrations of foreclosures in the city, a three-by-three-block section of South Jamaica, the Daily News found 98 properties in foreclosure from January 2006 through this month. This is ground zero of New York's foreclosure mess: Linden Blvd. to the north, Foch Blvd. to the south, 145th St., Inwood St., 146th and 147th Sts. west to east. No street is spared.


The tragic toll of housing nightmare

9 comments:

CntrySigns said...

I know I'm being the bad guy here saying this and I'm sure it's not the case with everyone. But should some of these people even bought houses in the first place? I know my husband and I were tempted but My Dad talked me out of it with a bunch of what if's and he was right. We seriously only could have afforded it if the market stayed the way it was and that realistically wasn't going to happen.

We Light Up Queens said...

It's easy to play the "I knew better" position. But what it comes down to is that I'd say in the past 7 -10 years or so people have been buying more with less capital. Assuming that times will get better rather than worse. Between the econ0omic hardships and the ARM's there is no way some people could avoid foreclosure, even those who crunched the numbers and took into account the possibility of rough times ahead. It's a sad state and now everyone is paying for it.

georgetheatheist said...

"I know I'm being the bad guy here saying this..."

If you have an opinion, express it. There's no need to apologize and temper your thoughts. This is the USA!

irrational exhuberance said...

and i thought renting was throwing money away!

how many of these asshats would love to be in a rental right now?

well they can kiss my ass because if the prices were still going up they would all be taking out helocs to buy shit they do not need to impress people they do not know or even like

what's in you wallet?
mine is stuffed with cash

why you ask?
i work 6 days a week pay all my bills save my money and have great credit and $0 debt!

oh and i am loser renter

fu%k off dummies rot in your ruined credit and slum it in a rental

it is funny when the things you "own" begin to own you

follow the herd and get slaughtered

Anonymous said...

The city's solution is to build more condo towers for foreigners and ignore the struggling masses who were raised in tihs city.

Anonymous said...

Why is everything the city's fault. whatever happened to personal accountability?

Anonymous said...

Irrational exhuberance, why can peolpe have both ways. We live within our means, pay our mortgage and credit cards and try to enjoy the positive things NY has to offer. Renting,owning different strokes... but no one should be as bitter as you are. I for one do not think you are NOT very happy with your decision

Anonymous said...

Irrational exhuberance, why can peolpe have both ways. We live within our means, pay our mortgage and credit cards and try to enjoy the positive things NY has to offer. Renting,owning different strokes... but no one should be as bitter as you are. I for one do not think you are very happy with your decision

Anonymous said...

Most of the people in the article seem to deserve it, but I do have sympathy for the widow who needed money after her husband died. After your husband dies, I can understand her not using her full mental facilities, and probably being taken in by a smooth hustler.

I feel bad for the guy who's deed was changed without his knowledge. How does that even happen. Good thing the judge decided to stick it to the bank that allowed it to happen.

I also feel bad for the old lady who's son scammed her and left her in debt. Her son deserves to be flogged and raped in prison, but I can understand the old lady not wanting to send that evil son to prison.