0 minute readThe New York region has the largest backlog in the country of delinquent mortgages that have yet to move through the foreclosure pipeline, which could weigh on home prices for years, ratings company Standard & Poor’s says. For years, the foreclosure problem in the US has been associated with cities in Florida, California, Nevada and Arizona. But several communities in New York have seen rising foreclosures, especially in suburban New Jersey and in Queens and Brooklyn.
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
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The story for the housing market over the past three years has been, “Home sales are down, home prices are up.” Because inventory was so restricted after the pandemic, prices pushed higher even as demand weakened. That story may finally be inverting as unsold inventory of homes is now great enough that home prices are […]
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Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio