Boston residents on average spend almost one-third of their income on rent — that's the sixth highest among the nation's major metro areas, according to a recent analysis by John Burns Real Estate Consulting.
In Boston, affordable housing stock just isn't keeping up with demand. The problem is even worse in New York City where, on average, people spend more than half of their income on rent. But the administration of New York Mayor Michael Bloomberg has come up with a possible solution — they call them "micro-apartments."
- Mathew Wambua, Commissioner of the New York City Department of Housing Preservation and Development
This segment aired on July 12, 2012.