- It seems that 1 in 3 New Yorkers is paying more than 50% of their take home pay in rent. If you’ve ever looked at the Real Estate section in a New York paper or been faced with the unfortunate task all NY’ers dread–looking for a no-fee apartment that isn’t rat infested, this is not a surprise. I bet if we did a national study most people are paying more than the 30% standard applied in measuring housing affordability.
Sorry, NYC, we know how you like to be the exception to the rule. This time you simply prove the fallacy of the rule
- If you think the US Housing market is the worst in the world, try the UK on for size.
- Tomorrow, the House votes on the bill meant to help stimulate housing and stem foreclosures. Of course, after it passed the Senate, it pretty much wasted paper. Don’t worry, I will be posting on what I think about it verrrrrry soon.
- Hmmm, who knew that the foreclosure crisis would adversely effect renters? I wonder what types of renters those would be?
Well, I gotta go pay the man for the roof over my head and by some more Ramen. Anybody got any positive housing news? Please share.
2 responses so far ↓
» To Pay Rent or Eat? That is the Question? (And other interesting midweek tidbits) // April 30, 2008 at 11:33 pm |
[...] deltartufod wrote an interesting post today onHere’s a quick excerpt It seems that 1 in 3 New Yorkers is paying more than 50% of their take home pay in rent. If you’ve ever looked at the Real Estate section in a New York paper or been faced with the unfortunate task all NY’ers dread–looking for a no-fee apartment that isn’t rat infested, this is not a surprise. I bet if we did a national study most people are paying more than the 30% standard applied in measuring housing affordability. [...]
Tom Lindmark // May 1, 2008 at 4:58 am |
This is your number one fan but I might not be yours after you read this. These are some thoughts I put on my blog. You can see it at http://blog.metro-real-estate.com/?p=229. Basically, it’s an argument against low income housing as a viable purchase strategy for the working poor. I have to do a lot more thinking on this subject but I’m not at all sure we are doing favors to people at the lower end of the income scale by encouraging them to become homeowners. Let me have your thoughts.