Friday, December 09, 2005
My Kingdom for a House
According to a new realty survey, 85% of California households cannot afford to buy their own home. Mortgage rates are simply too steep for wage-earners to afford, and the average price for a home in the state is now $568,700.
Does this make any sense to anyone? So it’s solely a renter’s market in California? How can anyway be expected to save for the future if they are locked into the renting cycle with no equity? What has happened to the American dream?
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