Saturday, May 13, 2006

Who can afford to buy a home?

Interesting article in RIS Media, entitled Scrimping for a Mortgage indicates that your neighbor is stretched far more than you may think.

According to a 2005 study by the Public Policy Institute of California, more than half of households in Monterey County pay more than 30% of their pre-tax income on housing. I bet if the same study were performed elsewhere, we'd find similar results.

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