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The New York City real estate market has gotten so bad that people are paying millions to live in the basement

30 days ago   |   By Business Insider

Sean Pavone/Shutterstock
New York City real estate is so outrageous that homebuyers are paying millions for underground apartments, according to a New York Times article.
Below-grade spaces offer more space at a fraction of the cost of other units in their buildings.
A pilot program is in the works for the creation of legal basement and cellar apartments in Brooklyn - if successful, it would ideally bring more affordable housing.
New York City real estate may currently be a buyer's market at all price points , but that doesn't mean it's becoming any less outrageous.
The real estate market...
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20 of the best places to live for first-time homebuyers

20 of the best places to live for first-time homebuyers

30 days ago   |   By Business Insider

Sean Pavone/Shutterstock
Saving enough money for a down payment to buy a home isn't easy these days.
In fact, 39% of millennial homebuyers find it difficult to save for a down payment, according to Zillow Group's Housing Trends Report .
RealEstate.com found the places where first-time home buyers can save for a down payment the fastest based on average income and savings rates.
There are only six cities where it takes the average person less than four years to save for a down payment.
Saving for a down payment can be tough, especially when it's your first home.
The price of housing has...
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