The mortgage industry meltdown of 2007 is the new real estate bubble of 2005.
While delinquencies and foreclosures have largely affected credit-strapped borrowers in the subprime market, the contagion is spreading, including to parts of New York. This month, The Real Deal looks at the fallout with a series of stories.
Subprime slowdown spares Manhattan — for now
Foreclosure fears mount in city
Foreclosure notices hard to locate
By the numbers: Woes in the mortgage industry
Ken Harney – Creative ways to prevent foreclosure
Ken Harney – Inflated appraisals feed mortgage meltdown