One of the cities where over-leveraging (taking on too much debt in mortgage) is largely occurring is New York City, according to a recent report from WalletHub, which found NYC has an average mortgage debt of $556,171.
- The mortgage debt-to-income ratio in NYC is a whopping 1,590 percent, and the debt-to-house value ratio is 113 percent.
- NYC is in the 99th percentile and among the most over-leveraged cities in the nation.
- NYC data and debt figures do not include the surrounding metro cities.
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Inman Connect New York | January 29 - February 1, 2019