According to the Bureau of Labor Statistics, housing costs in the New York metropolitan area rose 6.5 percent last year, the biggest increase since 1989. Although housing price increases in the late ’80s precipitated a recession, Michael Slattery, a senior vice president at REBNY, said prices are now rising slower than they did at the beginning of last year, which means they may be sustainable. more [NYT]
Housing costs in region rise 6.5%
January 19, 2007 12:00AM
