Murray Hill Middle Heathcote Is Not Mount Vernon

Higley1000 reports Scarsdale has the richest and largest number of neighborhoods in the Higley 1000 in Westchester County. Four out of the five richest neighborhoods are found in Scarsdale including the 5th wealthiest in the country,). Murray Hill Heathcote ($402,565 Mean Household Income).

I report that the mortgage cartel has massively unloaded in the subprime neighborhood of Mount Vernon. David Schepp in AOL Daily Fiance article The Housing Mess Hits One New York Town Hard reports dramatic price drops in working class and minority town Mount Vernon, NY, such as that of 27 Harrison St Mount Vernon, NY, 10550 which is now listed for $125,000.

Tim Murphy wrote on August 7, 2007 in the New York Times: “Reflecting statewide and national trends, there has been a steep rise in the number of Westchester County homeowners experiencing or facing foreclosures. In the first half of 2007, foreclosure filings in Westchester rose 32 percent and actual foreclosures increased 62 percent over the same period last year, said the county clerk, Timothy C. Idoni. Like Ms. Moore, the vast majority of those homeowners obtained so-called subprime mortgages, given to people with less-than-perfect credit, often at high interest rates, or rates that start low and then rise sharply after a year or two. In Westchester, the majority of people with subprime mortgages are black or Hispanic and live in communities like Yonkers, Mount Vernon, New Rochelle and Greenburgh.

Keywords: mounvernon, murrayhill, scarsdale, demographics, wealthy, poor


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