The American dream of homeownership is fading in these California cities

The American dream of homeownership is fading in these California cities

For millions of Americans, the dream of homeownership is becoming increasingly elusive -- and in California, the financial barrier is especially high. A new analysis of housing affordability reveals that the income needed to buy a typical home has soared to nearly $125,000 nationwide — far above the U.S. median household income of $77,719. In California’s most expensive cities, that figure is more than double, and in some cases, more than quadru…