Only 51% of Southern California households can ‘afford’ entry-level home with ‘generous’ mortgage

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She sells to entry-level floor sweepers who make $8 an hour and can’t afford. generous church. But government benefits were a very different story. Taking them meant you’d fallen and weren’t.

For example, only 51% of southern california households can "afford" an entry-level home even using a mortgage with generous financing terms. Meanwhile, rent inflation in Los Angeles and Orange counties is at a 12-year high.

People buy million dollar homes in California the same way they do anywhere else – because they can afford it. First, the vast majority of homes in California are available for under a million dollars. Indeed, only a few counties have homes that routinely go over a million dollars.

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Census Charts Index > Households & Families for California California Census Data: Households & Families. Household and Family statistics for California counties are shown in this easy-to-read table and chart combination. scroll down for information about Reading the chart. Source: U.S. census bureau 2000 census.

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Just 51% of Southern California households can comfortably buy an entry-level home – and they’d need to earn at least $70,090 annually, according to a California Association of Realtors first-time buyer financing index.

Just 51% of Southern California households can comfortably buy an entry-level home – and they’d need to earn at least $70,090 annually, according to a California Association of Realtors. Source: Only 51% of Southern California households can ‘afford’ entry-level home with ‘generous’ mortgage – Orange County Register

Only 60% of Inland Empire households can ‘afford’ entry-level home with ‘generous’ mortgage Income of $50,260 was needed for $1,680 payment on a $310,250 home.

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There are two different questions: How do people afford to move to California, and how do people afford to live in California. You want the answer to the first question, and frankly I don’t know the answer. But I do know how many of us afford to live in California. We’ve been here a long time, and bought houses when they were much, much cheaper.