search

The Real Deal Logo

Trending

Lawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421a“Million-dollar cities” in California now include working-class towns“Million-dollar cities” in California now include working-class townsCharles Cohen’s 750 Lex value slashed by 83%, foreclosure loomsCharles Cohen’s 750 Lex value slashed by 83%, foreclosure loomsBeverly Hills brokers make sense of NAR settlementBeverly Hills brokers make sense of NAR settlement
New York

U.S. foreclosure rates climbing

Sign Up for the undefined Newsletter

Foreclosures continue to increase across the country. Moody’s Economy.com predicts defaults on primary mortgages will rise to 2.2 million, up from 1.4 million in 2007. In 2009, Moody’s estimates the number will reach 1.6 million, and finally start to decrease only in 2010. The first responders to foreclosed homes are usually neighbors, sharing the responsibility of maintaining the homes and preventing vandalism. This month, The Real Deal examined the soaring number of bank-owned homes in New York City. [USAToday] and [Kiplinger]