Published on Thursday, November 20, 2008
By Daily Bulletin Staff Writer
Housing affordability inches upward in twin-county region
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 Thursday by the California Association of Realtors. In San Bernardino and Riverside counties, 66 percent of households could afford to buy an entry-level home - up from 60 percent in the second quarter of this year, and up from 39 percent in the third quarter of 2007. During the third quarter - in the twin-county region - the minimum household income needed to purchase an entry-level home costing $193,130 was $37,500, and a monthly payment including taxes and insurance was $1,250.
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