✨The biggest problem in housing is the decreasing rate of affordability for homeowners. Especially in areas like California (20% can afford a median priced home). That is why downpayment assistance programs run out of funds in 2 weeks rather than a full year.
But obviously other states are following this path. This will not be improving with time, unless we build exponentially more affordable housing to meet demand. And this we know will not happen. This is a long term problem.
Think about that. 80% can’t afford to buy a median priced home in California.
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