The state’s homeownership rate of roughly 55% is second lowest in the nation, above New York, and a full 10 percentage points beneath the national average. Most of that gap, both common sense and researchers at UC Berkeley tell us, isn’t the result of an atypical fondness for the freedoms of renting but comes down to the price tag. The median price of a detached single-family home across in the United States is $426,800. In California, it’s $852,680. In San Francisco it’s well over $1 million.
RandyMarsh
Article URL : https://www.kcra.com/article/why-homeownership-in-california-isnt-nearly-the-financial-slam-dunk-it-once-was/69827172