That’s a headline from today’s L. A. Times 2/21/14, at p. B2). No comment seems necessary.
But be careful. This applies only to the “in” counties bordering on the Pacific: Los Angeles, Ventura and Orange in Southern California. and Santa Clara, Alameda and San Francisco up north. To qualify for a loan on one of these houses the buyer would have to have an annual income of $95,389. Rots of ruck!
Quoth a local housing maven, “The cost of financed homeownership is becoming dangerously disconnected with still-stagnant median incomes.”
Bubble, bubble, . . .