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housing price to wage ratio

Started by cfranch
over 17 years ago
Posts: 270
Member since: Feb 2009
Discussion about
still way out of whack for entire NY metro area. normally 3.0 but we are somewhere in the teens. can be corrected 2 ways-wages rise or housing falls. does anyone really believe wages are about to rise in NYC? check out the map here: http://www.creativeclass.com/creative_class/_wordpress/wp-content/uploads/2009/05/housingbubblemap1.jpg big correction in housing yet to come at all price points.
Response by qqq
over 17 years ago
Posts: 66
Member since: Jan 2007

cfranch, is the 3.0 ratio normal for the US or specific to NYC or Manhattan?

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Response by cfranch
over 17 years ago
Posts: 270
Member since: Feb 2009

US, but I would imagine it is somewhat higher for Manhattan.

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