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Is NYC going through an affordable housing crisis ? To get a better understanding of the city’s rental market, RentHop compared median rents for a two-bedroom apartment in various parts of the city to the most recent median income data available at the neighborhood level. It turns out that just nine out of the 139 neighborhoods included in the study had median asking rents that could be afforded with 35 percent of the neighborhood’s median income. RentHop added an additional 5 percent to the recommended affordability of 30 percent to make room for the income growth that has taken place since the Census data was released. The map above shows the median asking rent of two-bedroom apartments in neighborhood tabulation areas (NTAs) across New York City and how that relates to the income of those neighborhoods. Darker shades of red indicate lower affordability , while the few green areas indicate that median asking rents are within reach for the neighborhood’s median household income . M...

After a UBS housing report pointed to as many as one in four homes owned offshore by mainland Chinese buyers being kept empty, and a further quarter used on a "temporary" basis, experts have been quick to say the results do not apply to Australian real estate . Among the naysayers is Jane Lu, head of Australia for Chinese international property site Juwai . She said there was "no hard data" and called the idea of vacant apartments held by offshore buyers as an "urban myth". "Most Chinese buyers of inner- city apartments are not so wealthy that they can afford to leave their property vacant ??? rather than renting it and earning some sort of income. There are some who do not live there full-time, because it is their second home. " Chinese investors are no more likely to turn down easy rent money than are Australians ... Australian second-home owners probably have more vacant properties in Ballina and Byron Bay than Chinese investors do...

Rochester has the second-highest gap in homeownership rates across races in the country, a new report shows. When measuring homeownership rates in the 50 largest metro areas nationwide , Apartment List found that in Rochester 70.1 percent of white households own their homes, compared with 21.2 percent for black households, 35.6 percent for Hispanic households and 48 percent for Asian households. Rochester’s 37. 1 percent average gap in homeownership rates across races was second behind Buffalo, where the gap is 40.5 percent. In Buffalo, the white homeownership rate is 67.8 percent, while the average homeownership rate across minority races is just 27.3 percent, according to the report. Utilizing data from the U.S. Census Bureau, Apartment List also found that Rochester is the third least diverse metro of the nation’s 50 largest metropolitan areas . On a national level, the report found that 64.4 percent of white households are homeowners, compared with 54 percent of Asian house...