Thursday, February 22, 2007

"Central Valley has two of the nation’s ten least affordable places to buy a home"

From the Centrall Valley Business Times:

The Central Valley has two of the nation’s ten least affordable places to buy a home, according to figures released Thursday by the California Building Industry Association.

Merced ranks as the country’s fifth least affordable area and Modesto comes in at tenth, the CBIA says.

California has nine of the top ten rankings for the fourth quarter of 2006, joined only by the New York City metro area.

Stockton is ranked 13th nationally. Other Central Valley cities and their national housing affordability rankings are:

• Madera, 15th (tied with San Francisco)
• Fresno, 17th
• Sacramento, 16th
• Hanford-Corcoran, 23rd
• Yuba City, 24th
• Visalia-Porterville, 27th
• Bakersfield, 31st
• Chico, 52nd


howard k stern said...

This has almost become a joke.What the hell does merced or modesto have to often? The land is virtually all the same from the grapevine to redding.Like phil jackson said, "sacramento is a cow town".It is all farming communities througout the valley.The economies are really dependant on real estate.I am afraid there are a lot of bagholders to be out there.You should be able to pick up a house for 250k soon.

Anonymous said...

Housings prices are holding, but wheres my 50% raise to afford one?