Protestors march outside forecloure auction

March 09, 2009 11:40AM

About two dozen protestors marched
outside the Jacob K. Javits Convention Center, where a foreclosed home auction was being held
this weekend,
criticizing banks for causing the foreclosure problem and calling for
a moratorium on foreclosures and evictions. Hundreds of foreclosed homes were sold at the Saturday auction, the second New
York City auction
run by Real Estate Disposition Corp., a California-based company. About 1,000 people attended the auction,
where more than 350 condos, single-family houses and duplexes in the
New York area and Pennsylvania were on offer, and bids on some
properties began as low as $1,000.
The Real Deal looks at condo auctions in the March issue.

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