The median sale price for a home in California is more than double that in the rest of the nation.
|Median statewide home prices|
|(as of 4/1/2018, source Realtor.com)|
As a result, over a million more people moved out of California from 2006 to 2016 than moved in, according to a new report, due mainly to the high cost of housing that hits lower-income people the hardest.
More: California homeowners spend an average of 21.9% of their income on housing costs, the 49th worst in the nation, while renters spend 32.8%, the 48th worst. The median rent statewide in 2016 was $1,375, which is 40.2% higher than the national average. And the median home price was — wait for it — more than double that of the national average.
Fascinating stuff, read the whole thing: www.marketwatch.com
Hat tip marketwatch.com