Fewer Californians can afford houses
From Times wire reports
Housing affordability in California fell in December to 28% from 33% a year ago, the California Assn. of Realtors reported.
A household needed a minimum annual income of $81,120 to buy a median-priced home of $338,110 in December based on a 20% down payment and a 30-year, fixed-rate 6.1% mortgage.
A year ago, it took a household income of $71,450 to afford a median-priced home of $281,330 when the interest rate was 6.77%.
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