Fact of the day, thanks to the L.A. Times: For all of California, the minimum household income needed to afford a median-priced home was $94,020 in January, versus $39,090 for the nation, according to the California Assn. of Realtors.
The paper says consumers' inability to buy homes may trigger slower gains in home prices (and sales) -- but don't expect to see a turnaround in prices. This ain't the early 90s, "when massive aerospace layoffs and overbuilding resulted in prices plunging 23% in Los Angeles County."
No comments:
Post a Comment