We’re not sure how much more we can write about New York City being so expensive.
Actually, that's a lie. We could go on forever.
But if you’re looking to own a house in NYC, you might want to start investing in lottery tickets.
Metro reports that homeownership in NYC is lower than the national average. This has been a twenty-five-year-trend in the making, given that since 1990 prices have been rising on properties across the board.
A majority of NYC households earn $55,000 or less annually, and as of 2014, could only afford 9 percent of the houses sold that year.
Those earning $114,000 or less annually (78%) didn’t fare much better. They could only purchase 42 percent of the houses sold in 2014.
It gets even worse when the report, released by NYU Furman Center and Citi, notes that incomes couldn’t keep up with the trend.
And in a surprising turn of events, Staten Island placed first among the boroughs!
Their homeownership rate is double that of the NYC average and above the national average. We were all like, "Go Staten Island, you beat that national average!"
And then we realized we were encouraging Staten Island and magically found better things to do. It didn't take long.
So then we did something even better with our time and started scouring the web for roommates who could help us afford this absurd cost of living in NYC. No, we stayed far away from Craigslist. We downloaded Roomi.
Roomi’s an incredible free app that helps you afford living in a city by helping you find roommates and housemates that aren’t sketchballs.
You should never leave an apartment you love because you can’t fill the space, and you should never sacrifice a solid friendship for an easy fix when it comes to your apartment.
Download Roomi, and find a roommate that’s actually good for you.[via Metro] [Feature Image Courtesy Instagram]