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| Housing Affordability Focus of Special Report in June 'California Real Estate' Magazine |
'What You Need to Know and How You Can Help' Report Also Available Online
LOS ANGELES, June 30 /PRNewswire/ -- "Housing Affordability in California
-- What You Need to Know and How You Can Help" is the focus of a special
report in the June issue of "California Real Estate" magazine. The issue
takes an in-depth look at factors exacerbating California's housing
affordability crisis and details what REALTORS(R) need to know about how
affordability affects the communities in which they live and work.
"California Real Estate" magazine is the official publication of the
California Association of REALTORS(R), with a monthly circulation of more than
125,000.
The June edition of "California Real Estate" magazine also examines what
C.A.R. and other organizations are doing today to address the affordability
challenge.
"From sponsoring bills in the Legislature and providing initial funding
for C.A.R.'s new Housing Affordability Fund to creating a Housing
Affordability Task Force to coordinate all of C.A.R.'s efforts, I remain
upbeat about our industry's ability to meet this challenge," said C.A.R.
President Toby Bradley.
According to C.A.R. research, the percentage of households in California
able to afford a median-priced home at $363,930 was 27 percent in April and
the minimum household income needed to purchase a median-priced home in
California was $84,480, based on a typical 30-year, fixed-rate mortgage at
5.72 percent and assuming a 20 percent downpayment. Affordability within the
state ranges from 64 percent in the High Desert, the most affordable region,
to 13 percent in Santa Barbara.
"I believe that by working together, educating ourselves, our clients, and
our communities, we can begin to make the hard choices necessary as a society
to provide that most basic necessity, a roof over their heads, to more and
more Californians," Bradley said.
"Housing Affordability in California -- What You Need to Know and How You
Can Help" is available online at http://www.car.org/index.php?id=MjU4NA .
Printed copies can be ordered by calling (213) 739-8320.
The California Association of REALTORS(R) ( http://www.car.org ) is one of
the largest state trade organizations in the United States, with more than
115,000 members dedicated to the advancement of professionalism in real
estate. C.A.R. is headquartered in Los Angeles.
SOURCE California Association of REALTORS
back to topRelated links:
CONTACT:
Mark Giberson of California Association of
REALTORS, +1-213-739-8304, markg@car.org
