According to the comptroller’s report, areas immediately outside of New York City – such as Long Island and the mid-Hudson region – have seen the greatest number of pending foreclosures with cases rising 63 percent from 25,097 at the beginning of 2013 to 40,985 this year.
However, although pending foreclosure cases across upstate grew by 47 percent, New York City experienced nearly a drop of 10 percent over the two-year period.
For Queens, the situation looks to be “improving,” according to the report, with a high foreclosure rate of around 1.25 percent but decreasing caseload. At the beginning of 2013 Queens had 12,497 pending foreclosure cases and in the beginning of this year it saw 10,667, a decrease of 14.1 percent.
7 comments:
Queens is New York City. L.I. and upstate are Podunk with high taxes to pay bloated cop salaries and entrenched(mostly republican)administrations.
Say what you will about "Hipsters", Asians, etc their presence is positive sign of regeneration.
"Say what you will about "Hipsters", Asians, etc their presence is positive sign of regeneration."
No they're not.
Rats are a more positive sign of regeneration than these frivolous spending scoundrels.
I think the whole housing situation in nyc is out of hand. Nobody who is "middle income" can even compete in the housing market in nyc. Most of the people who own houses here just rent them out. We were sold out to foreign investors and developers who would pay top dollar for any type of house in nyc. Even in the bad neighborhoods, prices are skyrocketing! Something bad is brewing in the nyc housing market and it will soon catch up to us. Nyc did not see the housing bubble back in 2007/2008 because we have a different type of market out here. Nyc is in for its own tragic housing bubble. Wages here are not rising, everyone is a renter here and pensions no longer exist in most companies. In actuality, nyc can not keep going on the way it is once these dumb liberals start waking up to the fact that you can't retire while paying rent if you don't get a pension from your job! Do you really think that your 403b or 401k plans will help you keep up with your rents by the time you retire? Get real!! All that money will be eaten up so fast if you idiots keep renting! Rents are inflating every year but your 403b or 401k will not be able to keep up with it! You can also forget about relying on social security too because ss will not be around in another 25 years.....so bye bye social security! And if you think affordable housing will help the situation, you are even more delusional! The government has learned it's lesson from all the affordable housing that they put up many years ago and realized that those people ain't moving out because their rents are too cheap so once the government finally got wind of this, all affordable housing will increase in rent too more often! This whole city is bound to fail with 70 percent of a rental population. Also, you can forget about those rental houses to ever look good again....renters don't care about the property they rent and make everything just more trashy than what it is. Let's just sit and wait for this bubble to burst.
Until they cut down every tree in the neighborhood!!! And I'm not referring to the Hipsters!
Rats are a more positive sign of regeneration than these frivolous spending scoundrels.
ret-ard.. rats doesn't buy your house.. the ruin them and lower your house value.
Of course Asians are the one with money and thus helping fuel the home prices. Lets see if they don't buy your house.. who will. and also will not get as a higher price. =P. Truth hurts.
Let's just sit and wait for this bubble to burst.
bubble to burst? you try to sit in it 2008..nothing happen.
I predicted correctly that nyc queens will not drop like other areas and if any it will have a delay affect and I was right. 2012 was the lowest point all prices in Queens. it took 4 years to sink in.. So if there is a collapse in 2016, 2020 will the be year to buy in Queens..
But again, if you wait to burst, you can wait forever unless the whole US is in shambles..which by that time you don't even want to buy or can't buy. So it means wait forever. Now if you say wait it corrects a bit.. then I will believe you. There is only correction, but not a collapse when youare talkinga bout nyc housing prices.
Prices are skyrocketing mostly because of the number of people there and also because the chinese are buying them. All the feraking opens houses are 98% chinese... actually 100% at some. How do they have that much money.. yes you can say from China.. but others are local from the US and they had been saving like cats and dogs (which many people I know doesn't save like them) and working on businesses that when it's time, they go for it. To them, house owner ship is important.. more important than quality of life. To them it's call financial education that rich dad/poor dad talks about and the thing I found is that.. they were laughing or just shrugging him off when I mentioned it becasue they ARE ALREADY DOING what rich dad/poor dad does. They already know a house is not an asset unless it's cashflowing. They know building businesses and reinvest is important and pay check to paycheck is not a sign of wealth. They already know that, so it wasn't very enlightening to them. In fact some of them doesn't even have a college education like that 'rich dad'. They don't even know why that rich dad/poor dad book can be a best seller when it's commonly known to them already as it's common sense.
"ret-ard.. rats doesn't buy your house.. the ruin them and lower your house value."
Duh anonymous. Me just making silly reply.
Anon 2 totally nails it. And a lot of shit happened in 2008, we the people had to bail out the banks for their criminal actions for billions because of their bat shit deals,lending and the odious practice of waging on the shrinking value of homes.
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