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BRIEFLY

California's housing affordability fell in April.

June 04, 1987

Citing the continued climb in housing prices and mortgage interest, the California Assn. of Realtors reported that its affordability index declined to 33% from 34% the month before, which means that only a third of the state's households could afford to purchase the median-priced single-family home of $134,552, which was up 2.1% from March's $131,799. In Los Angeles, the index fell to 29% from March's 31%. Households in this region needed a minimum of $42,019 in annual income to qualify for the median priced home of $137,001.

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