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High land cost and low-density development with very small increases in housing density, which in turn keep land prices high. [1]: 12 The Sacramento Bee notes that residential land prices are more than 600% greater in coastal California than the average of America's other large metropolitan areas. [63]
Impossibly high home prices are ‘feudalizing’ California as unaffordable housing markets pose existential threat to middle class, study says Jason Ma June 16, 2024 at 1:47 PM
U.S. states and D.C. by median home price, February 2024 (in February 2024 dollars) [1] State rank State or territory Median home price in US$ 1 Hawaii: $839,013 2 California: $765,197 — District of Columbia: $610,548 3 Massachusetts: $596,410 4 Washington: $575,894 5 Colorado: $539,151 6 Utah: $509,433 7 New Jersey: $503,432 8 Oregon: $487,244 9
The disparity grows when property prices appreciate by more than 2% a year. The Case–Shiller housing index shows prices in Los Angeles, San Diego, and San Francisco appreciated 170% from 1987 (the start of available data) to 2012 while the 2% cap only allowed a 67% increase in taxes on homes that were not sold during this 26-year period. [33]
(The Center Square) - The monthly payment to purchase an entry-level California home has risen 88% since 2020, according to a new report from the non-partisan, state-funded Legislative Analyst’s ...
Property-data firm Attom has identified more than 50 counties across America at risk of a housing price crash. California, New Jersey and Illinois have the highest concentration of vulnerable ...
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