Descriptive Statistics - California's Unaffordable Housing.

Our team is pleased to provide this paper discussing the California housing market and its apparent lack of affordability for the average wage earner. With the research and statistics behind us, we will now focus on the analysis of the data and will provide the reader with some recommendations for dealing with this economics problem. In review, the Team researched housing prices, household incomes, and mortgage interest rates. Each of the three factors has a …

…the California housing market is a big disappointment to many hopeful homebuyers. One of the three factors would have to significantly change in order to affect the affordability for the average household. Interest rates would need to sink, home prices would need to rollback about 6 years, or households would have to earn twice as much as they do today. All three seem unlikely and unrealistic. The question still is who is buying California real estate?