The Law Office of Michael E. Ripley

Exceeding Expectations

Houses Are Becoming Less Affordable

According to USA Today (August 19, 2013), housing is becoming less affordable in a number of major markets, including San Diego. The problem, as the article explains, is that incomes have not been increasing, but housing prices and interest rates have been increasing. For five of six major areas in California, including San Diego, prices are 21% higher now than they were a year ago.