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San Diego's Growing Affordability Crisis
San Diego's Growing Housing Affordability Crisis
The cost of housing in San Diego is growing and more and more working families are facing difficult times in both acquiring a home or meeting the challenge of the costs of renting. The national average home price is in the $190,000's. In San Diego that average is more than two and half times that amount at $535,000. San Diego's average rent for a 2 Bedroom is now at $1700 per month. And for those with a bigger family, the average 3 Bedroom rental is over $2100. 
Think back to when your parents bought their first home and try to imagine them paying over a half million dollars for their first little piece of the American Dream. Chances are that their incomes have not risen 10 to 12 times what they were earning then over the same course of years.
We are seeing in so many parts of San Diego that the cost of housing is now exceeding 50% of income. The only saving grace is that the rising tide of housing prices is floating all boats (equity that is creating wealth). 
So in effect, while the housing affordability crisis is real for so many, for those fortunate to already be in the home ... more

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