The New Coney Island - Brooklyn's Times Square by the Sea

Sunday, December 14, 2014

NY Mag - Brooklyn Is the Least Affordable Housing Market in the Country

Manhattan is Third! Brooklyn real estate is changing very quickly now

Excerpt -

Brooklyn real estate is more expensive than ever, and according to one new study that looked at 475 counties around the country, the borough now also has the dubious distinction of being the U.S.'s least affordable housing market.
Via Bloomberg:
Of the 475 counties analyzed by RealtyTrac through October, 98 areas weren’t as affordable compared with the average level for the period starting in January 2000, the Irvine, California-based data company said in a report today. Brooklyn, New York, where a resident would need to devote 98 percent of the median income to afford the payment on a median-priced home of $615,000, was the least-affordable market, followed by San Francisco and Manhattan.

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