Housing cheaper today but not in New York

Speaking of housing, it’s actually gotten a lot cheaper over the past 20 years or so to buy it if you don’t live in a city like New York, say, or Miami and San Francisco. Americans in the vast majority of the country can still, that is, buy a house for a smaller share of their incomes than they could have a generation ago, thanks to lower mortgage rates, a decline in mortgage fees, and a rise in income. This happy reality, however, does not apply in some of the bigger, booming cities, including the Big Apple. more [NYT]