With today's news that foreclosures are up big in the five boroughs, this reader question to the inbox seems especially timely:
I'm a long time reader and admirer of your site. I'm an Residential Low-Income Architect in New York City and as you would know finding a decent apartment to buy is nearly impossible with an architects salary. I was wondering if you or any of your readers can guide me on where to find foreclosed homes in the New York City Area.Your best ideas for our architect-vulture friend in the comments, please.
Per a statement issued by Senator Chuck Schumer today in response to the news about the foreclosure leap in New York City:
Anyone who thinks New York City is going to escape the subprime crisis is just plain wrong. The foreclosure storm that’s been brewing elsewhere in the country has now made its way to New York. We must do everything in our power to take positive action to help homeowners through this crisis, including cracking down on predatory lenders, increasing foreclosure prevention resources, and beefing up federal protections for New Yorkers who are in danger of losing their homes.· Sharp Jump Is Seen in Local Foreclosures [CityRoom]