Real estate affordability drops 5% in California - 2005-03-10
Homes are becoming more out of reach for an increasing number of prospective homeowners in California, according to a January housing affordability report released today by the California Association of Realtors.
Approximately 18 percent of the state's households could afford to buy a median-priced home in the state in January, compared to 23 percent of households in January 2004, the association reported. The Housing Affordability Index slipped 1 percentage point from December 2004 to January 2005.
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