High-cost homes turned on their heads

From The Real Deal

NEW YORK CITY – From working-class enclaves in the outer boroughs to glistening new condo towers in Manhattan, the legions of New Yorkers at risk of losing their homes has been growing.

While the number of foreclosure filings in the state dropped during the first three quarters of last year compared to the same time in 2008, the filings jumped 14 percent in New York City, according to RealtyTrac. And no borough — including Manhattan (see related story here) — was spared.