The Real Deal Miami

Housing costs spiral in Palm Beach County

December 09, 2008 09:56AM

At least four out of 10 homeowners in Palm Beach County must spend more
than 25 percent of their household income on housing, according to 2007
Census figures. Housing analyst Jack McCabe, of McCabe Research
Consulting in Deerfield Beach, said foreclosures, increased
unemployment and high inventory means the situation will likely worsen.
At least 25 percent of county residents spend at least 35 percent of
their
household income on housing, federal data show.