You’ve got to earn to own here
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Los Angeles and Orange counties top the least affordable list for major urban markets in the world on the basis of the common financial counsel that owners should spend no more than one-third of income for a place to live, according to Demographia, an international demographic and urban policy firm.
The median house price is 11 times the median household income in Los Angeles and Orange counties, according to the 2007 report. San Diego, at a multiple of 10.5, is followed by Honolulu at 10.3, San Francisco at 10.1, Ventura County at 9.4 and Stockton at 8.6.
Sydney, Australia -- the least affordable market outside of the U.S. -- ranks above San Jose, which is just ahead of London.
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Gayle Pollard-Terry
gayle.pollard-terry@latimes.com
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