Opinion: California Homeowners Build Wealth While More and More Residents Are Priced Out ...Middle East

A view of Pacific Beach from Kate O. Sessions Neighborhood Park. Photo by Chris Stone One of California’s many socioeconomic divisions is homeownership. California has the nation’s second-lowest percentage of residents living in homes that they or their families own — 55.5%, one percentage point higher than New York. But those owners are sitting on immense equity, roughly $2 trillion, thanks to the state’s highest-in-the-nation home prices. In September, the median price of single-family home in California was $868,150, according to the California Association of Realtors, more than twice the national median. “Monthly payments for a newly purchased mid-tier home — including mo

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Opinion: California Homeowners Build Wealth While More and More Residents Are Priced Out ...Middle East

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