Report: ‘Kings’ are actually the only people who can afford this county anymore

Get a good look at these brownstones, because you’ll never own one. via josh c. jackson on Flickr Well, that settles that. We already know that way too much of our income was going to rent. Just last year, New York City came in as second-most expensive place to raise a family. But those statistics suddenly pale in comparison to Brooklyn’s latest crowning yearbook superlative, Most Unaffordable Place to Live in America. Real estate data company ATTOM data solutions released their third 2016 quarterly report today, which ranked cities on a scale of unaffordability by comparing incomes with market rate housing and closing deal costs. Brooklyn won out by a landslide, with 123.5 percent of median income being the going rate for a house. Santa Cruz came in second, at 111.1 percent. Marketwatch, who first reported ATTOM’s findings, put it in laymen’s terms: “A person earning the average salary in Brooklyn cannot afford the average home there — even if he or she… Read More

Report: ‘Kings’ are actually the only people who can afford this county anymore : Brokelyn