(ZEROHEDGE) – While every news anchor and talking head in the world of finance continues to congratulate the Fed despite inflation still not being under control, prices are telling another story.
Specifically, housing prices. In fact, a new report from Bloomberg is now detailing how even doctors making $350,000 per year are “struggling” to find places to live in locales like Long Island. The report cites the region’s “chronic housing shortage” and detailed the story of Paul Connor, who helps run Stony Brook’s Eastern Long Island Hospital.
“The single most difficult impediment to get around right now is the housing prices,” he said of the area. Long Island’s North Fork, including Greenport, epitomizes New York’s severe housing crunch, with home prices surging by 50% to nearly $1 million, and available listings plummeting by 60% for its 50,000 residents, the report says.
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Author: Around the Web
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