Home prices in 11 California metros ‘unaffordable’ even with 0% mortgage
Home prices in 42 U.S. metros – including 11 from California – would not meet a 30% affordability standard even with no interest charged.
Home prices in 42 U.S. metros – including 11 from California – would not meet a 30% affordability standard even with no interest charged.
Only 0.7% of California's borrowers owe more than their home's value, lowest among the states. Nationally, it's 1.7%.
California's mortgages have the nation's second-highest average cushion between home values and what's owed.
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Population flows suggest people were drawn to areas where more housing was being created, much of it far from the coast.
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Half of buyers surveyed say their mortgage would not be sustainable without refinancing, with many delaying children, cutting essential living expenses and preparing to take on second jobs to stay…