Housing Affordability in California Drops as Prices Increase
LOS ANGELES (LATimes.com)-
California homes are getting less affordable as property values rise, a real estate group says, offsetting the benefit to home shoppers from low mortgage interest rates.
The California Assn. of Realtors estimated that 49% of homebuyers in the third quarter could afford a median-priced house in California, a decline from 51% last quarter.
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