Suburbs Over Cities: Housing Shortages Push Millennials Out

A new report indicates half of New York City’s households are unable to comfortably hold down an apartment, access sufficient food and basic health care, and get around. The study reveals New York City is facing its worst affordability crisis of the last two decades. Nearly 80% of households that did not bring in enough to meet the minimum cost of living in the city ended up contributing more than 30% of their income to housing. Additionally, the study found that households in all five boroughs needed to be pulling in at least $100,000 to afford housing, food and transportation, and to have a shot at being able to plan for the future.

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