Are South Florida Homeowners Spend Too Much On Housing?
Boca Raton News
People in Palm Beach County spent a large portion of their paychecks in 2007, on housing. In 2000, Palm Beach homeowners with mortgages spent 24 percent of their gross income on housing, which has risen to 35 percent in 2007, according to the U.S. census data, that was just released. 
Homeowners in Palm Beach and Boca Raton have been squeezed to spend more of their paychecks on housing due to rising interest rates, higher insurance and the increase in property taxes.
The difference between salaries and affordable housing could hurt South Florida's desirability, even with the recent drop in home prices.
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Date: Wednesday, September, 12th 2007 @ 01:28:38 AMViews: 785
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