Pasadena Star: Middle-class workers can’t afford to buy homes in L.A. County and the future looks dim

Pasadena Star: Middle-class workers can’t afford to buy homes in L.A. County and the future looks dim
February 9, 2017 Peter

Middle-class workers in California are struggling to find homes they can afford. Home prices keep rising because of tight inventories and not enough new construction.Oscar Sol has spent the past five months searching for a home he can afford to buy. But so far, he has struck out. “I’m looking for a condo or town home, something in the price range of $300,000 to $350,000,” the 37-year-old North Hollywood resident said. “Homes are too expensive here so now I’m looking in Santa Clarita.” Good luck with that. Santa Clarita’s median home price — the point at which half of the homes cost more — was $550,000 in December, up 17 percent from a year earlier, according to price tracker CoreLogic. And that’s not the worst of it.

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