L.A.: Last in housing affordability

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Stop us if you’ve heard this one already: Los Angeles is still the least affordable place in America to buy a house.

‘Maintaining its spot at the bottom of the affordability scale for an 11th consecutive quarter was Los Angeles-Long Beach-Glendale, Calif., with 3 percent of homes sold that were affordable to median-income families.’

That’s Inman News coverage of the latest National Assn. of Home Builders/Wells Fargo Housing Opportunity Index, which ranks American cities according to the affordability of their housing markets.

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Photo Credit: LATimes