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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Mick Mørmøny who wrote (41109)	9/9/2005 9:51:11 PM
From: Mick Mørmøny	Read Replies (2) \| Respond to of 306849

Housing Affordability Not Improving In San Diego 09-09-2005 6:20 AM sandiego.cox.net (San Diego, CA) -- Only nine-percent of San Diego Households could afford to purchase a home in July. The California Association of Realtors reports that number is unchanged from the previous month and down one-percent from a year ago. According to the latest Housing Affordability Index the High Desert at 30-percent was the most affordable region in the state. The Santa Barbara and Northern Wine Country areas were the least affordable at seven-percent.< Media contact: Mark Giberson (213) 739-8304 E-mail: markg@car.org For release: Thursday, Sept. 8, 2005 C.A.R. reports California's Housing Affordability Index fell three points to 16 percent in July; record lows recorded for Los Angeles, Riverside/San Bernardino, High Desert regions LOS ANGELES (Sept. 8) – The percentage of households in California able to afford a median-priced home stood at 16 percent in July, a 3 percentage-point decrease compared with the same period a year ago when the Index was at 19 percent, according to a report released today by the California Association of REALTORS® (C.A.R.). The July Housing Affordability Index (HAI) was unchanged from June, when it also stood at 16 percent. C.A.R.’s monthly housing affordability index measures the percentage of households that can afford to purchase a median-priced home in California. C.A.R. also reports housing affordability indexes for regions and select counties within the state. The Index is the most fundamental measure of housing well-being in the state. The minimum household income needed to purchase a median-priced home at $540,900 in California in July was $125,670, based on an average effective mortgage interest rate of 5.73 percent and assuming a 20 percent downpayment. The minimum household income needed to purchase a median-priced home was up from $109,170 in July 2004, when the median price of a home was $461,760 and the prevailing interest rate was 5.93 percent. The minimum household income needed to purchase a median-priced home at $218,000 in the U.S. in July 2005 was $50,650. At 30 percent, the High Desert region was the most affordable C.A.R. region in the state, followed by the Sacramento region at 20 percent. The Santa Barbara and Northern Wine Country regions were the least affordable in the state at 7 percent. C.A.R.’s 2006 Housing Market Forecast will be released on Wednesday, Sept. 21. The August 2005 sales and median price report for the state and regions within the state will be released on Monday, Sept. 26. Leading the Way...® in California real estate for 100 years,the California Association of REALTORS® (www.car.org) is one of the largest state trade organizations in the United States, with more than 170,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles. car.org