Remember how the NY Times looks at apartment complexes in danger of defaulting on their mortgages last month? Well, Crain's continues that line of thought, noting that almost 600 buildings "have one or more factors that could lead to mortgage default." The Riverton Houses and Savoy Park in Harlem are both mentioned again, as is Stuyvesant Town. Per the Daily News, "Housing advocates told Crain's that buyers had unrealistic goals about rent increases. The same lenders caught up in the mortgage free-for-all in single-family homes lent them money anyway." Speaking of apartments in NYC, Britney Spears told Z100, "When I come back, it's like, 'Man, I wish I still had my apartment here.' But I love it. The energy is crazy."
Are Apartment Buildings Next in Mortgage Crisis?
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"It puts more of a burden on New York — puts more of a burden on 49 other states."
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