Wednesday, April 17, 2019

Foreclosure stats remain the highest in Southeast Queens

Queens Chronicle

More than a decade after the mortgage bubble burst in the United States, Queens continues to be ground zero for foreclosures in the city.

In its latest report, PropertyShark, a website that chronicles residential and commercial real estate in major U.S. markets, said the borough’s numbers were up for the first quarter of 2019.

The report, written by Robert Demeter, states that first-time foreclosures in the city totaled 870 from Jan. 1 through the end of March, a decrease of five percent over the first three months of 2018.

But in Queens, the borough had 315 new foreclosures to begin 2019, a 4-percent increase over the 303 in the first quarter of 2018, and a 25 percent hike from the 252 registered in the final quarter of 2018, which includes October, November and December.

“The 11434 zip code encompassing Jamaica, South Jamaica, Rochdale and St. Albans neighborhoods had the most foreclosures in the borough: 28,” according to the report.

No comments: