The housing market is shaped mainly by the inventory of available housing, by housing affordability and by the present interest rates on mortgages. California`s inventory of housing units is not enough to meet the demand because our population increases faster than our supply of housing. Nearly 250,000 new households are formed every year and about 190,000 new housing units are are bulit ---- creating a shortfall of about 60,000 units. With a shortage of housing, there is a extreme demand.
The next thing to look at is the affordability index. The affordability index shows how many households will be able to afford a median-priced home in California. As the affordability index gets lower it means that fewer households will be able to buy a home. For example, if the affordability index falls to 19, less than one - in -five households will be able to purchase a median priced home in California.
Best Rate Funding - Direct Lender - Wholesale Rates
Senior Loan Consultant
Direct Line: 1-888-702-2225 x. 115
E- Fax :1-310-943-6551
"A business that makes nothing but money is a poor business. "
- Henry Ford