Housing Wire: Few California home shoppers can afford average-priced homes

Housing Wire: Few California home shoppers can afford average-priced homes
August 9, 2017 Peter

Los AngelesCalifornia’s infamous housing situation isn’t getting any better, with the number of people that can afford that Golden State’s averaged-priced home dropping even lower. According the California Association of Realtors’ Traditional Housing Affordability Index, only 29% of California households could afford to purchase the $553,260 median-priced home in the second quarter of 2017. This is down from 32% in first-quarter 2017 and down from 31% in second-quarter 2016. The drop also marks the 17th consecutive quarter that the index has been below 40% and the lowest since third-quarter 2015.

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