“Buyers needed to earn $82,200 to afford financing $411,170, the price the trade association estimated for an entry-level home during the quarter.”
OK, I realize that southern California is “different” from the mid-sized east coast city that I grew up in, but this seems ridiculous. I don’t even have to run the numbers.
Where I grew up, someone making $82K wouldn’t even dream of paying more than $225K (and I’m being aggressive) for a home. It shows you just how screwed up things are out here. What can I do but laugh?
