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New York

Too much income spent on housing, report says

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If the rule of thumb is that no more than 30 percent of a person’s income should be spent on housing, then New Yorkers, by and large, are breaking the rule. More than 36 percent of New Yorkers spend more than 30 percent and nearly one-fifth spend more than 50 percent of their income on housing, according to a recent report. more [Sun]