Monday, January 29, 2007
From Flipper Nation
Also from the NY Post:
By ELIZABETH WOLFF
January 28, 2007 -- The number of New Yorkers forced into foreclosure is skyrocketing, especially in Nassau County, where foreclosures have jumped a stunning 82 percent in the past year.
According to foreclosure tracking firm RealtyTrac, the number of city foreclosures went up 15 percent in 2006 from the year before, while Long Island jumped 55 percent. The national rate surged by 42 percent.
"People in general are living outside of their means," said wealth manager J.J. Burns. "This generation wants everything now. People are not saving for the rainy day."
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