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No Foreclosure Crisis in Bushwick

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Sure, there's been a lot written about a "foreclosure crisis" in Bushwick. "Much sap has been made of a few people losing their houses in the neighborhood, but do the facts justify the hysteria?" Not really. "The vast majority of homes in Bushwick are not in foreclosure." The best solution is to just let home price fall "to a level where the average buyer will re-enter the housing market. Then vacant homes can be snapped up and occupied with less expense and far less need for shady mortgage acrobatics. This 'price discovery' process is being frustrated by the US government’s efforts to prop up prices, and may prolong the economic pain." Problem solved. [BushwickBK]