Top 10 Least Affordable Markets in 2006, 3rd Quarter
November 21st, 2006 • Related • Filed Under
While living in almost any of these addresses would be wonderful, you really need to be in the top 10 percent of earners to buy a new home in any of these locales.
The National Association of Home Builders has their new affordability survey out and the results are very scary for average earners in these regions. To understand the severity of the situation, only 1.8 percent of the new housing inventory could be afforded by the average earner in L.A. Watch the middle class flee these cities as they gentrify to the extreme.
- Los Angeles-Long Beach-Glendale, CA 1.8 percent of homes built that are affordable to average buyer
- Salinas, CA 2.6 percent
- Santa Ana-Anaheim-Irvine, CA 3.8 percent
- Modesto, CA 4.1 percent
- Merced, CA 4.3 percent
- Stockton, CA 4.8 percent
- Madera, CA 4.8 percent
- San Diego-Carlsbad-San Marcos, CA 4.9 percent
- Napa, CA 4.9 percent
- New York-White Plains-Wayne, NY-NJ 5.1 percent
Well Tom, once again you have said it much better than I could have. Unfortunately the folks at Move, ...
It certainly does not bode well for a fast recovery in the economic climate. This will affect all real estate ...
I HAVE 25 YEARS EXPERIENCE IN TELECOMMUNICATIONS..HOW DO I APPLY AT KAI. 
Definitely not a fan of Move Inc.!!! 
A lot of you really need to go back to kindergarten and learn to spell correctly. If you cannot spell ...
In 2008, there was an extension to push first-time home buyers to purchase their homes quickly since the program did ...
I also need HELP and don't know what to do about my problem. I have a garden apartment off ...
I have the same situation. I sold my home in July and am scheduled to to close in a few ...
My cousin in Maryland going thru same thing as Jack Thomas. Have loan Mod Agreement from Countywide dated April 2009, ...
Print Ads is the popular way to advertise among seniors in the business industry but today it seems like it ...
Pingback by RealEstateUndressed » Blog Archive » So your new neighbor is from California? on 27 November 2006:
[...] Here is why people are leaving California. From Therealestatebloggers.com [...]
Comment by Athol Kay on 27 November 2006:
I’m seeing similar sorts of building in Connecticut. I don’t believe I’ve stepped into a newly built home that isn’t gunning for the high end dollar this year. Inside these homes you just walk and walk and walk…..
Comment by Virginia Beach, VA Real Estate on 3 December 2006:
New construction? Home builders are gunning for the top dollars in the Virginia Beach area to. Incentives are just not enough, because our buyers can negotiate a much better deal with the average “motivated seller” in our area.