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Housing Facts
Nine out of the 10 least affordable communities in the nation are in California. The state has 22 markets of the bottom 28 for affordability.
For every $1,000 added to the cost of a home in government fees, 217,000 prospective buyers are priced out of eligibility. For every $1,000 added to the cost of a mortgage, $2,160 is paid over the life of a 6% interest, 30-year loan.
In Livermore, California, government fees add more than $118,000 to the cost of a new home. That equals an additional $707 every month on the mortgage of a 6% interest loan. After 30 years, that homeowner has paid $254,520 for those fees.
The California Department of Finance estimates that the state needs to produce 250,000 new homes, condos and apartments per year to meet the demand of our growing population.
Half of California's annual population growth is concentrated in the six-county region surrounding Los Angeles.
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