affordable housing: Affordable housing in San Diego County - 01/30/09 08:08 AM
Along with the decline of real estate prices, the increase in inventory, and the shut down of many of the major new construction builders, another area that has fallen victim to this economy is affordable housing.
Just three years ago, only 7% of San Diego households could afford the median-priced home of about $515,000. December statistics show that 33% of San Diego households can afford the median-priced home, but the median price has fallen to $300,000. For those who don't know what the median price is, it means that half the homes that sold were priced above, and half the homes … (4 comments)