Posted on August 23, 2015 by Victoria Bekiempis in Newsweek Newsweek, By Victoria Bekiempis While “The Rent Is Too Damn High” Party launched a few years ago as little more than a minor political party’s cry of protest, that phrase has since become de rigeur in serious discussions about affordable housing. On average, New York City residents spend nearly 60 percent of their income on rent, according to a recent StreetEasy analysis, meaning they bear a significant “rent burden.” Rent is considered “affordable” only if it covers 30 percent or less of monthly earnings.
