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Rise in foreclosures to keep LI home prices low

A rising tide of foreclosures on Long Island

A rising tide of foreclosures on Long Island could last for several years, delaying a recovery in housing prices, experts on the housing market say. Photo Credit: iStock

A rising tide of foreclosures on Long Island could last for several years, delaying a recovery in housing prices, experts on the housing market say. In each of the last two quarters, the median home price on Long Island hasn't budged from a year earlier, according to appraiser Miller Samuel and the brokerage Prudential Douglas Elliman, both in Manhattan. The price in the third quarter was $365,000,...

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