It may be winter, but this is the time when many rent their summer vacation homes.
New mortgage foreclosure filings dropped last year in New York while still edging up nationally, according to state Comptroller Thomas DiNapoli, who cautioned the fallout continues from the U.S. housing crisis and recession.
“With the current MTA fare increase coming along, and your day-to-day expenses are going up, and your salary or income is not keeping pace at all, so at some point it’s going to break if it keeps this way,” one resident said.
Two recent reports that say sales of new and existing homes have taken a dramatic hit coupled with high unemployment has many concerned that the worst is yet to come.
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