Los Angeles – The Least Affordable Housing Market in US
Here’s the most discouraging news of the week, from CNN/Money.
The Los Angeles metro area was again the nation’s least affordable market. Only 2 percent of the homes sold during the quarter there were affordable to those families bringing home the median earnings for the area, $56,200. The median sale price was $525,000.
Coming in a close second, was Orange County, just south of LA. These would be the only two markets I could possibly live in with my job. I’ve been wanting to own a home for a long time, but this is the main reason I’ve been unable to. I guess I’ll have to wait for the market to crash (which may not be too far fetched), or wait for the next big earthquake to scare everybody away.
Posted on Friday, February 23, 2007 @ 5:58 pm by BudgetFreak
Filed Under: Real Estate , Statistics
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