CALIFORNIA BUSINESS MINUTE
Affordability
05-27-09
Hi, I am Tim Johnson and welcome to the California Business Minute.
Last week the National Association of Home Builders and Wells Fargo released a
study that illustrated the least and most affordable places to live in the nation.
The report illustrates that U.S. home prices are their most affordable in at
least 18 years. Nearly 73% of all homes sold during the first three months of
2009 were considered affordable. That was the highest percentage ever reported
by the 18-year-old Housing Opportunity Index, an analysis of markets compiled
quarterly by the National Association of Homebuilders and Wells Fargo Bank.
The most affordable list, with the exception of Indianapolis is comprised mostly
of communities with very low job prospects and opportunities and snow shovels
are required, hence the reason for their presence on the list. On the other hand,
it is hard to fathom that El Paso Texas becoming on the least affordable places
to live.
Most Affordable
Indianapolis, IN
Youngstown, OH
Akron, OH
Grand Rapids, MI
Syracuse, NY
Warren, MI
Cleveland, OH
Buffalo, OH
Toledo, OH
Dayton, OH
Least Affordable
New York, NY
San Francisco, CA
Los Angeles, CA
Nassau- Suffolk
Honolulu, HI
Santa Ana, CA
Newark, NJ
Miami, FL
McAllen, TX
El Paso, TX
I am Tim Johnson and this has been the California Business Minute.
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