LA-OC home prices 10 times greater than incomes, report finds – OCRegister
Buying a home in Los Angeles and Orange counties costs 10 times more than what a typical family earns in a year, a new housing report shows. That’s double what it was in 1980, when the price of a house was five times the median household income, according to Harvard’s Joint Center for Housing Studies. The L.A.-Orange County metro area had the fourth-highest price-income ratio out of 385 U.S. metro areas listed in the report, which came out in late June. In the Inland Empire, home prices were more than six…
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