As you can see Long Island is displayed in light brown showing an 50% to 200% increase in foreclosures over a year eariler. Based on the amount of LisPendens being filed each week I would venture to say that we are well over a 100% increase. Other data supports that 3 to 4 percent of the homes in NY are in forclosure, which doesn’t seem to be much until you do the math. Suffolk county has appoximatly 500,000 homes if 3% of those homes are in forclosure that would be 15,000 homes that will come on the in the next 1 to 2 years.

Source:
The Trouble in Housing Trickles Up
Neson D. Schwartz
http://www.nytimes.com/2008/06/01/business/01town.html

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