From the California Association of Realtors (11/20):
Entry-level housing affordability more than doubles
For release:
Thursday, Nov. 20, 2008
C.A.R. reports entry-level housing affordability more than doublesin third quarter
"LOS ANGELES (Nov. 20) The percentage of households that could afford to buy an entry-level home in California stood at 53 percent in the third quarter of 2008, compared with 24 percent for the same period a year ago, according to a report released today by the CALIFORNIA ASSOCIATION OF REALTORS®.
C.A.R.’s First Time Buyer Housing Affordability Index (FTB-HAI) measured the percentage of households that can afford to purchase an entry-level home in California. C.A.R. also reports first-time buyer indexes for regions and select counties within the state. The Index is the most fundamental measure of housing well-being for first-time buyers in the state." ...
for the complete news release
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