Saturday, February 23, 2008

Allston-Brighton Largely Avoiding the House Foreclosure Crisis

Over at the Boston Real Estate Blog, John Keith has compiled and mapped all of the deed foreclosures during January 2008 on properties in the City of Boston:

I was personally surprised that, at least for that one month, none of the properties listed as being in "deed foreclosure" at the Suffolk County Registry of Deeds were in Allston-Brighton. (One Brighton registered land foreclosure was listed at "masslandrecords"; see the comments at this post.)

Not surprisingly, though, is that most are in Dorchester. The city recently had a media event cleanup of properties along one particularly blighted street, Hendry Street, in Dorchester that was the subject of an earlier Boston Herald article (archive fee). Chris Lovett at Neighborhood Network News has the back story on that street.

Via UniversalHub. As one commenter there wrote:
The distribution on that map is striking. You have whole neighborhoods without any foreclosures at all -- Allston-Brighton, Jamaica Plain, Mission Hill, Fenway, South End, Back Bay. Then you have some neighborhoods with a few scattered dots -- Roxbury, Southie, Eastie, Hyde Park, Roslindale, Mattapan. And then there's Dorchester. Wow.

1 comment:

Enzo said...

Michael, the subprime crisis was caused primarily by people losing their jobs.

The Federal Reserve raised rates eight times to raise the unemployment rate. When this happens poor people are the first to lose their jobs. It's simple to see how the poorest neighborhood would be harmed this way.