New York’s foreclosures fewer than elsewhere

June 20, 2008 09:45AM

New York is bucking the national foreclosure trend, according to a new study by the Metropolitan Washington Council of Governments and Freddie Mac. The state’s numbers dropped compared to last year, and New York City was the second least foreclosed-on city this quarter, just below Boston with 53 foreclosures for every 10,000 properties. The report also noted that foreclosures were more frequent in neighborhoods with large minority populations. In its latest issue, The Real Deal took a look at what happens to foreclosed properties in poorer neighborhoods.

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