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California's Newest Homeowners: Affording the Unaffordable

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Publication Date: January 2005

Publisher(s): Public Policy Institute of California

Author(s): Hans P. Johnson; Amanda Bailey

Funder(s): Public Policy Institute of California

Funder(s): Public Policy Institute of California

Series: California Counts: Population Trends and Profiles v.7 no.1

Topic: Social conditions (Housing)

Type: Report

Coverage: California

Abstract:

Examines the latest trends in home-ownership, the characteristics of homebuyers, and how Californians are able to afford such high prices. Finds that many recent homeowners are financially overextended, that nonconventional financing has also played a role, and that many residents have moved to inland areas of the state where housing is more affordable.