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Starter Homes Are Becoming Increasingly Unaffordable, Even in Secondary Markets

Pro Builder

a secondary city of the Los Angeles metro, the average renter household income was $63,127 in 2021, but the amount needed to afford the area’s average mortgage payment was triple that at $192,616. Such was the case in Yonkers, NY, and Paterson, NJ. In markets such as Burbank, Calif.,

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Starter Homes Are Becoming Increasingly Unaffordable, Even in Secondary Markets

Pro Builder

In markets like Burbank, CA, a secondary city of the Los Angeles metro, the average renter household income was $63,127 in 2021, but the amount needed to afford the area’s average mortgage payments was triple that at $192,616. Such was the case in Yonkers, NY, and Paterson, NJ.

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NAHB Releases Its 2022 “Priced Out” Estimates, and They Could Spell Trouble for Thousands

Pro Builder

are not able to afford a new median priced home in 2022, according to NAHB’s Eye on Housing, meaning that 69% of Americans have incomes that are insufficient to qualify for a mortgage under standard underwriting criteria. Roughly 87.5 million households across the U.S. Affordability. Market Data + Trends. Housing Markets. Affordability.

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New Jersey Is Home to Six of the Nation’s 10 Counties Most Vulnerable to a Downturn

Pro Builder

Six New Jersey counties are considered "at-risk" as costs of homeownership soar well beyond local household incomes. housing markets most vulnerable to a downturn are located in New Jersey, where a higher percentage of household income is required to maintain homeownership, according to Realtor.com. Six of the 10 U.S.

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UPDATE: New Plan for NJ's Trust Fund Stalemate

Construction Equipment

Their plan would give New Jersey drivers a maximum $500 income-tax deduction for gas-tax spending and a $3,000 annual income-tax exemption to veterans. A new plan to fund the New Jersey Transportation Trust Fund was released Friday by New Jersey Senate President Steve Sweeney and Assembly Speaker Vincent Prieto. cents a gallon.

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NJ Angel Investor Tax Credit Program Injects $125M In Tech Companies

Buisness Facilities Contributed Content

NJ Angel Investor Tax Credit Program Injects $125M In Tech Companies originally appeared on Business Facilities - Economic Development, Site Selection & Workforce Solutions. Check out Business Facilities’ New Jersey Incentives and Workforce Development Guide. Related articles across the web.

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Business Report: Garden State Growth Zones Aim to Lift New Jersey’s Cities

Buisness Facilities Contributed Content

It places extra emphasis on spurring development and private-sector job growth in new Garden State Growth Zones (GSGZ) identified in the legislation as the four lowest median family income cities in the state: Camden, Trenton, Passaic and Paterson. NJEDA approved a significant Grow NJ award of up to $39.5 Laurel, NJ.

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