Wednesday, November 22, 2006

Housing affordability in Orange County: Nothing to see here. Move along.

Like we really need reports from the California Building Industry Association to tell us these things, but OK, here it is. California is the state with the second least affordable housing.

Of the total housing on offer in Orange County, only 3.8% is considered "afforable".

Now, let's see... I'd like a single-family, 3 bedroom, 2 1/2 bathroom house with a front and backyard, and two car garage in Orange County, California.

Well, how much should I expect to fork over?

Depending on the area and age of the house, prepare yourself to cough up anywhere between US$650,000 to US$775,000!

And before you start thinking to yourself: "Jeeze, that must be a mansion"!, forget about it!

You'll have to sift through a long inventory list of tiny stucco shitboxes with no basements. You put the same OC home on the market in Indianapolis, Indiana your talking $115,000 tops!

Think I'm joking? Well alright, go ahead. I challenge you to find one cheaper.

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