Quarter of New Yorkers spend half their earnings on rent

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Rep. Anthony Weiner of Queens reports that about 28 percent of New Yorkers, or about 529,000 people, spend at least half of their paychecks on rent, up from 19.4 percent in 1999. In the Bronx, about 33 percent of renters spent more than half their income on rent in 2006, while 27 percent did on Staten Island and 22 percent did in Manhattan, according to Weiner’s report. Weiner, a prospective candidate for mayor, said the city should create a “60/20/20” program, which would fund buildings that provide 20 percent of housing to middle-income earners, 20 percent to low-income earners and 60 percent on the open market. [Sun] and [Post]

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