Less than 1-in-5 of Californians earned enough to buy a median-priced home in 2023 — and things could get worse

A newly released study by the California Association of Realtors shows that housing affordability dipped last year as interest rates jumped and the typical mortgage payment for a median-priced home increased. Less than 1-in-5 Californians earned the minimum qualifying income needed to purchase a median-priced home in California last year, down from just over 1-in-5…

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