US EditionOnly 16% of Californians Can Afford to Buy a Home
- In the second quarter, only 16% of households in California could qualify to purchase a median-priced single-family home, down from 19% in the first quarter and 17% a year earlier. This is due to rising interest rates and limited housing inventory, leading to an affordability crisis in the state.
- The high cost of housing in California has resulted in people and companies leaving the state or choosing not to move there, which could hinder economic growth and population expansion. If nothing is done to increase the housing supply, California may face decreased competitiveness in the long run.
- Despite a 2.
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Only 16% of people in this state can afford to buy a home
(Image by Public Co from Pixabay) (BUSINESS TIMES) – Buying a home in California slipped further out of reach as interest rates climbed and scarce inventory bolstered prices. Only 16 per cent of households could qualify to purchase a median-priced single-family home in the second quarter, the California Association of Realtors reported on Friday (Aug 11). That’s down from 19 per cent in the first quarter and 17 per cent a year earlier. Get the …
·Medford, United States
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Sky-high home prices are contributing to more and more people leaving California to live elsewhere in the United States.
·Oslo, Norway
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Total News Sources6
Leaning Left1Leaning Right3Center1Last UpdatedBias Distribution60% Right
Bias Distribution
- 60% of the sources lean Right
60% Right
L 20%
C 20%
R 60%
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