ברוקלין האוזינג מארקעט ווייניגסטע עפארדעבל אין גאנץ אמעריקע!
אזוי באריכטעט היינט די דעילי ניוז.
Kings County is officially the least affordable housing market in the entire country, according to a new survey released Thursday by housing data firm RealtyTrac.
A buyer would need to fork over a whopping 98% of the borough’s median income in order to make a down payment on an average home in the area, the survey found.
Brooklyn buyers even take a bigger hit on housing than buyers in other hot cities such as San Francisco and Los Angeles.
Overall, more than 20% of the 475 U.S. counties surveyed by RealtyTrac are now less affordable than ever before thanks to rising home prices and stagnant income growth. And experts say a bubble may be forming.
"While 99% of markets have not returned to the irrational affordability levels during the previous housing bubble, one in five markets have now exceeded their historical affordability norms, which is a strong sign that either a new home price bubble is forming in those markets or that home price appreciation will soon plateau until income can catch up" said Daren Blomquist, vice president at RealtyTrac.
Boroughwide, Brooklyn prices are hovering at record highs. Median prices increased by 5% in the third quarter to $549,000, the highest median price since the third quarter of 2008, a recent report shows.
