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California's housing prices are so high, only 16% of buyers can afford a home

Original post made on Aug 17, 2023

Fewer than 1 in 5 can afford to buy a home in California, according to the latest housing affordability index. In San Mateo, the state's least-affordable county, you'll need to earn $451,200 annually to buy a home.


Read the full story here Web Link posted Wednesday, August 16, 2023, 4:13 PM

Comments (2)

Posted by SalsaMusic
a resident of Cuesta Park
on Aug 17, 2023 at 2:20 pm

SalsaMusic is a registered user.

One thing you never hear the realtors asking for is better transportation. Build more homes so they can sell more.

NAR is like big sugar.

Very nice funded study though!


Posted by People Need Water
a resident of Shoreline West
on Aug 22, 2023 at 11:28 pm

People Need Water is a registered user.

Prices exist in equilibrium. The market is telling you that Earth's resources are tapped, and to stop breeding so that it can recover. But instead people push to build more, thinking that prices will go down. Even if they did go down temporarily (which they won't) people would just keep breeding until demand balanced out the increase in supply. It wouldn't even take very long. But of course, building increases prices. If you're lucky, some place in rural Kansas will get cheaper, but only for a short amount of time. The increase in population, spurred by the decrease in prices, will push prices even further than they were originally


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