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Miracle Hill Realty

Come for the hot water, stay for the stars.

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Economy

California’s High Housing Costs: Causes and Consequences

HOW EXPENSIVE IS HOUSING IN CALIFORNIA?

  1. Average price of a house in CA is $440,000 compared with the national average of $180,000.
  2. Monthly payments on the average house is $2,314
  3. You need to earn $92,500 per year to pay for an average house.
  4. In the Coachella valley, average price is $160,000 with payments of $889 you need an income of $52,000 per year.

 

WHAT’S THE PROBLEM?

  • Not enough houses
  • The banks won’t loan money
  • Payments are too high
  • CEQA law is a barrier to building
  • Building costs are too high
  • Because interest rates are low, investors don’t invest.

Continue reading “California’s High Housing Costs: Causes and Consequences”

California’s High Housing Costs: Causes and Consequences

 

HOW EXPENSIVE IS HOUSING IN CALIFORNIA?

Average price of a house in CA is $440,000 compared with the national average of $180,000. Continue reading “California’s High Housing Costs: Causes and Consequences”

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