Californians spend more of their income on housing
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California communities are making a lot of lists these days, and it is not a good thing.
Inman News posted this item on an Associated Press report out that came out yesterday.
‘An analysis of census data by the Joint Center for Housing Studies at Harvard University found that of the top 13 metro areas where the most mortgage holders spend more than 30% of their income on housing, nearly all were in California and Florida -- only one was in Las Vegas.’
Say it ain’t so. Here’s the ranking:
Greatest share of mortgage holders spending 30%-plus on housing 1. Miami-Fort Lauderdale-Miami Beach, 58%2. Stockton, Calif., 57%3. Riverside-San Bernardino-Ontario, Calif., 55%4. Cape Coral-Fort Myers, Fla., 55%5. Los Angeles-Long Beach-Santa Ana, Calif., 54%6. Modesto, Calif., 54%7. San Diego-Carlsbad-San Marcos, Calif., 53%8. San Francisco-Oakland-Fremont, Calif., 53%9. Sarasota-Bradenton-Venice, Fla., 52%10. Oxnard-Thousand Oaks-Ventura, Calif., 52%11. San Jose-Sunnyvale-Santa Clara, Calif., 51%12. Las Vegas-Paradise, Nev., 51%13. Sacramento-Arden-Arcade-Roseville, Calif., 50%’
--Lauren Beale
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