HOUSING AFFORDABILITY - 2004-01-09
Twenty-five percent of California households were able to buy the median-priced home in the state in November 2003, unchanged from last month, but down from 30 percent in November 2002.

The household income needed to buy a home in November at the state's median price of $386,760 was $90,800, according to the California Association of Realtors. That's based on a 20 percent down payment and a 30-year mortgage at 5.85 percent interest, with the household spending 30 percent of its income on housing expenses.
Read the full story at San Jose Mercury News

5 stories from debt hell - 2004-01-09
There are a few ways that credit can assist you build a better life. Most of us, for example, couldn’t purchase a home without a mortgage, and a house is usually an excellent way to build wealth.

But there are many, many other ways in which the misuse of credit can lead to a hellish nightmare of stress, empty wallets and bankruptcy. I’ve chosen a few stories from my e-mail bag to illustrate some of those paths to perdition, along with cautionary words on how to avoid these fates.
Read the full story at CNBC