By admin on Saturday, May 16th, 2009 at 8:04 am
The New York Times has mapped foreclosures in the region with all sorts of pretty colors. Downtown Jersey City and Hoboken are fairing well, particularly compared to the outer boroughs. A high rate of foreclosures lowers home values in neighborhoods by flooding saturated housing markets with additional stock. The real lesson gleaned from the Time’s map however is the further from the island a neighborhood is, the higher rate of foreclosure.