4 of 6
BACKNEXT
Slowing: New York
Foreclosure rate: 1 for every 211
Change from 2008: Down 23.5%

Mortgage delinquencies have not plagued New York as much as most other cities. Gotham has several factors going for it that help fend foreclosures off.

Home prices have kept their gains fairly well. New York prices are off 21% from their peak, according to the S&P/Case-Shiller home price index.

Homeowner tenure is also a positive. Many New Yorkers have lived there for years and have amassed considerable home equity. And New York is a global city, which tends to prop up demand by attracting international buyers, according to First American's Mark Fleming. "That can help moderate housing markets," he said.

New York is also more stable because of the large number of co-op apartments. Co-op boards often require buyers to make down payments of 20% or more before approving sales, providing big equity cushions to fall back on.

Future foreclosure risk: Medium. "Really tough to read at the moment," said Fleming. "New York may just be lagging the rest of the country." But the city's economic diversity, its international appeal and growing financial market stability could reduce foreclosure risk.

NEXT: Slowing: Houston
Last updated August 13 2009: 6:12 AM ET
Email | Print | Share  |  RSS
 
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)
Source: RealtyTrac
More Galleries
Revolving door: Washington to Wall Street Former House Majority Leader Eric Cantor is headed to Wall Street. See who else has jumped the political ship for a lucrative career in finance. More
How to keep your naked photos out of hackers' hands Follow these steps to make sure that your nude photos and other sensitive information won't get hacked. More
9 reasons to be excited about Windows 9 Microsoft is expected to begin showing off Windows 9's features later this month. Here are the expected changes you should be thrilled about. More

Special Offer
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.