CA: Less than 1 in 4 in San Diego can afford typical home-even worse elsewhere in state

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CA: Less than 1 in 4 in San Diego can afford typical home-even worse elsewhere in state

UNION-TRIBUNE

October 5, 2000

Less than one in four households can afford to buy a median-priced home in San Diego County, making it one of the least affordable regions in Southern California.

Only 23 percent of households were able to afford a $250,000 home in the county in August, according to a report released yesterday by the California Association of Realtors. The median price of an existing home in San Diego County was $250,000 in August, according to DataQuick Information Systems.

Statewide, 29 percent of households were able to afford a median-priced home, down 6 percent from the previous year. Nationwide, 52 percent of households could afford a median-priced home, a 1 percent drop from a year ago.

The only other county in Southern California that's as tough on homebuyers is Santa Barbara County. According to the associations's report, Santa Barbara County tied with San Diego County because 23 percent of households are able to afford a median-priced home.

The San Francisco Bay area and Monterey tied as the most difficult spots in the state for homebuyers, with 17 percent of the households in those regions able to afford a median-priced home.

The most affordable region of the state was the High Desert region of Southern California, where 67 percent of households could afford homes.

http://www.uniontrib.com/news/business/20001005-9999_1b5housing.html

-- Carl Jenkins (Somewherepress@aol.com), October 06, 2000


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