Long Island Association study: LIers pay too much for housing
Quick ReadAbout 40 percent of Long Island homeowners who have a mortgage pay too much for their housing, according to a Long Island Association study of census data, fueled in part by rising taxes and flat wages
Photo credit: James Carbone | A file photo of a home for sale on Long Island. (Nov. 10, 2010)
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About 40 percent of Long Island homeowners who have a mortgage devote too much of their income to housing, a statistic that economic experts say is fueled in part by rising taxes and flat wages.
In an analysis of 2010 census data, Long Island Association chief economist Pearl Kamer found that 4 in 10 homeowners with mortgages used more than 35 percent of their income for housing costs. Department...
