Fewer than 5 percent of home sales in 2005 were affordable to those earning the city’s median income of $43,434. That’s down from 11 percent in 2000.
City home ownership more elusive, report says
The report found Hispanics to have the lowest rate of home ownership at 16 percent. This lags far behind the rate of homeownership among Hispanics in other cities, such as Chicago, where 45 percent own homes.
Also, NYU's Furman Center released their report on the SUB-PRIME LOAN BUBBLE IN CITY.
The NYU study found that in 22 of the city's 59 community board districts, more than 30 percent of all home-purchase loans were sub-prime. Manhattan accounted for just 1.1 percent of the loans...topping the potentially perilous 50 percent mark were Jamaica/Hollis in Queens, East New York in Brooklyn and Williamsbridge and Belmont in The Bronx.
The Real Deal and Property Shark are aware of these facts, too: Queens leads NYC in foreclosures
Photo from Queens.About.com