The Bronx's Co-op City could be a model for affordable housing
There is an affordable-housing crisis across America. As of June, the median sale price of a home in the United States was nearly $400,000. In large cities, the cost of homeownership is significantly higher. The median apartment in Manhattan sells for well over $1 million. Renting provides no relief. The average apartment in Manhattan rents for an eye-popping $5,058 a month, and the median is $4,050, an increase of $800 in the past year alone.
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