Can young professionals afford to buy a home in New England?
Abstract: This policy brief explores whether young professional households can afford to own a home in New England. These are defined as households headed by a 25-39 year old with at least a BA and not currently enrolled in school. The analysis relies on two measures: (1) housing burden, defined as the percentage of household income spent on housing costs, and (2) income adequacy, defined as the ratio of household income to the income needed to purchase a home.
Keywords: Home ownership - New England;
File(s): File format is application/pdf http://www.bostonfed.org/economic/neppc/briefs/2008/briefs081.pdf
Provider: Federal Reserve Bank of Boston
Part of Series: New England Public Policy Center Policy Brief
Publication Date: 2008
Order Number: 08-1