According to CAR, the percentage of home buyers who could afford to purchase a median-priced, existing single-family home in California in the first quarter of 2021 narrowed to a slim 27%, down from 35% in the first quarter of 2020, the organization said.
So what does that 27% of the county look like? What we do is we take the median price home in San Diego and look at where current interest rates are and assume that people are putting 20% down and that their home payment would be 30% of their household income, CAR s chief economist, Jordan Levine, told NBC 7. From there you figure out what the income would be and figure out how many households in San Diego are at that income level or above.
Suspense File Day: Which Controversial Bills Did California Legislators Kill?
laist.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from laist.com Daily Mail and Mail on Sunday newspapers.
Seinfeld Actor Steve Hytner Finds Gold In L A s Hot Housing Market
forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.