Majority of Californians make less than half the income needed to buy a home - Yahoo! News: "California households are making less than half the income necessary to buy a median-priced home in the first quarter of 2005.
Statewide households, with a median household income of $53,540, are $60,380 short of the $113,920 qualifying income needed to purchase a median-priced home at $488,600 in California, according to the California Association of Realtors (C.A.R.) Homebuyer Income Gap Index (HIGI) report for the first quarter of 2005."
housing prices are nuts!!!!