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Re: Sticker Shock

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Posted by lobo on Tuesday, April 11th 2023:

In Reply to: Sticker Shock posted by Janice M on Saturday, April 8th 2023:

Norwood & vicinity real estate is incredibly hot. New apt. buildings going up everywhere, home prices skyrocketing! All thanks to Einstein/Montefiore Hospital & research facilities is my guess, not to mention easy public transportation via D, 4, & 5 train lines with easy access to Bx Rvr Parkway & Deegan! Even Park Side place, originally set aside by Robert Moses is practically gone thanks to new housing complexes. They even put up housing along Webster Ave. adjacent to the Harlem Line across from Woodlawn Cemetery!
Many folks who bought homes in the area when they were cheap took out junk mortgages when the home prices escalated in the late 80's & 90's. Many defaulted on these predatory loans, and properties foreclosed. There was a big turnover during those times.

Reference ID: BX91312


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