Tweet
Looks like the economy is tanking faster than the housing market.
or at least just as fast
California and Florida still top the list of the least affordable housing
Nearly two in five homeowners with mortgages and half of renters paid 30% or more of their before-tax income on housing costs, which is the limit the government sets for determining that housing is unaffordable, [...]
The share of homeowners with mortgages spending nearly a third of their income on housing held stable in 2008, after steady increases since 2002.
Among the top 100 metro areas, most of the top 10 least affordable ones for mortgage owners were in California and the rest were in Florida.
Comment