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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: russwinter who started this subject2/12/2004 11:36:35 AM
From: Ramsey Su   of 110194
 
car.org

The minimum household income needed to purchase a median-priced home at $404,520 in California in December was $94,730, based on a typical 30-year, fixed-rate mortgage at 5.82 percent and assuming a 20 percent downpayment. The minimum household income needed to purchase a median-priced home was up from $81,290 in December 2002, when the median price of a home was $338,840 and the prevailing interest rate was 6.10 percent. The minimum household income needed to purchase a median-priced home at $173,200 in the U.S. in December 2003 was $40,560.
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