By ADAM NICHOLS
June 20, 2008
Homes are being foreclosed in New York less than in nearly every other major US city, according to a study released yesterday.
And the state is bucking a national trend that has reclaimed more homes this year than last.
Eighty-seven of every 10,000 properties were seized in cities this first quarter, yet New York saw only 53 of every 10,000 foreclosed, according to the report, commissioned by the Metropolitan Washington Council of Governments and the mortgage company Freddie Mac.
Only Boston, with 44, had fewer. Phoenix, with 236, had the most, and every city except New York and Dallas has seen its numbers rise this year compared to the same period in 2007.
New York's figure actually dropped, by three houses for every 10,000.
The report also found that foreclosures were happening more frequently in neighborhoods with large black populations and that home prices fell by an average of 11 percent in the last year.
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