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Default Activity Is Rising In NYC.(Brief Article)
A foreclosure advisory and data firm here says that foreclosure activity is rising in the New York City metropolitan area.
"New York City is one of the five most troubled housing markets in the nation," said Alexis McGee, president of Foreclosures.com. "The employment picture is getting worse."
New York City has lost 225,000 jobs since 2000, with 176,000 of those jobs vanishing in the last two years. The city's unemployment rate, at 8.5%, is well above the national average.
Moreover, the number of people who have been out ...
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Source: HighBeam Research, Default Activity Is Rising In NYC.(Brief Article)