Rising Rents, Income Stagnation Force Renters to Pay Bigger Share of Income in 2017 According to Zillow, rising U.S. housing rents are eating up an increasingly large share of American incomes, costing the typical renter $2,000 per year. Currently, the median U.S. rental requires 29.1 percent of the median monthly income. However, in the years leading up to the housing bubble, renters spent just 25.8 percent of their income on housing. That...Read More
July 20, 2017
Luxury property sales in the Hamptons, New York’s weekend haven for the wealthy, are on the upswing thanks to a buoyant stock market, with four closings over the $20 million mark in the three months ended in June compared with none last year, real estate data show. Residential sales in the Long Island villages of East Hampton, Southampton and Bridgehampton came roaring back in the second quarter from a lackluster period a year ago, a report by brokerage Town and Country Real Estate said Monday. Closings in the $10 million to $19.