The study by New York University’s Furman Center said nearly half of New York City homeowners with mortgages are paying 30% or more of their income on housing, a far higher percentage than their counterparts elsewhere in the U.S. And a quarter of city homeowners... While the high cost of renting a New York City apartment is well-known, a new study found that many homeowners are straining under the weight of their own financial burdens.

Source: Wall Street Journal August 05, 2016 01:28 UTC