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March 28, 2007
How many mortages foreclosed in Manhattan last year?
Yet more evidence that the New York real estate market is strong. Pop quiz: how many mortgage forclosures were there in Manhattan (below 96th St) last year?
Answer: One.
Yes, one single mortgage foreclosed in all of Manhattan (at least the parts where most people actually live). If you want to be really liberal and include all of Manhattan (including the hinterlands where I live north of 96th), about 30 mortgages foreclosed last year. The outer boros are a bit of a blood bath, especially areas like Bed-Stuy, but it appears virtally impossible to lose one's home thorugh foreclosure in Manhattan.
Despite all of what one reads about the national real estate markets, it's undeniable that New York's is still going strong.
Here's the map - check it out.
Posted by adrianjo at March 28, 2007 11:37 PM