Thursday, October 12, 2006

Those Unaffordable California Places

The L.A.Times reports on Salinas,CA.:
only 3.5% of the city's households can afford the median-priced $610,000 home, according to a survey conducted by Wells Fargo Bank and the National Assn. of Home Builders. That makes Salinas the least affordable city of less than 500,000 in the United States (The least affordable large city is Los Angeles, where just 1.9% of the households can afford to buy.)
Probably not the future for most Americans.