Thursday, May 8, 2014

NEW YORK MORTGAGE FORECLOSURE - AFFORDABLE HOUSING

This chart is from a web article on the subject titled "1 in 3 homes is unaffordable and a bubble is forming". Line 2 states that in New York,  41.8% of the homes are unaffordable by historic standards while the percentage of monthly income that needs to be devoted to median housing is 31.6% (not sure if that figure of mortgage payments also includes real estate taxes).

The full link to this article, which appeared last month, can be found here:

http://www.housingwire.com/articles/29553-in-3-homes-is-unaffordable-and-a-bubble-is-forming




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