L.A. Daily News - Priced out of a house? Affordability index hits lowest level since 1989

With prices and interest rates trending higher, only 19 percent of California households could afford the median-price home in May -- the lowest affordability rate since the previous housing boom, near its peak in 1989, a real estate group reported Thursday.


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It just gets worse and worse. In Los Angeles County, "It would take an income of about $110,000 to afford a median-price home costing about $465,000," according to the article. Ouch.