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To afford a typical L.A.-area home, you must earn $96,513, study says
To afford a typical L.A.-area home, you must earn $96,513, study says

Want to comfortably own a home in Los Angeles? You’ll need a pretty hefty paycheck. That’s according to a report from mortgage research firm HSH.com, which analyzed the required salary to afford a median-priced home, if the buyer puts down 20%. In Los Angeles and Orange counties, a buyer needs to take home $96,513 annually to reasonably afford a median-priced home, which was $481,900 in the third quarter. A quarter earlier, you could have purchased a typical house while making about $10,000 less. The high cost of housing in the Southland has sent sales down this year and cooled a once frothy market. While the high end of the market is still humming, many buyers are...

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