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Wage growth lags far behind home prices, report finds
Wage growth lags far behind home prices, report finds

The jobs recovery is no match for the housing recovery. And that's making it hard for many Southern Californians to afford to buy a home here. That's the thrust of a new report out Thursday from real estate data firm RealtyTrac, which analyzed wage growth and home price appreciation in markets across the country and found that, in most places, wages are sorely lacking. While the average weekly wage earned by workers nationwide grew 1.3% from the second quarter of 2012 to the second quarter of 2014, home prices in that time grew 17%. In Los Angeles and Orange counties, the gap was even wider, with home price growth of 28.4% compared to wage growth of 2.5%. While high local...

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