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Condo Law & Practices

Report: NYC Has 5th Highest Home Price-to-Income Ratio in U.S.

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For most households, housing is itself the largest regular expenditure – so the failure of wages to keep up with housing prices can make housing costs even more expensive in real dollars. And since the onset of the pandemic in spring of 2020, housing prices have skyrocketed, with the cost of homes sold in the U.S. increasing by more than 40%.
That said, income growth lagging behind rising housing…


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