Author's Summary
Recent studies reveal California's housing prices greatly surpass national averages, with mid-tier homes driving up living costs amid ongoing affordability challenges. (147 characters)
Key Findings from LAO Study
A report from the Legislative Analyst's Office (LAO) highlights that California home prices significantly outpace those across the U.S. Mid-tier homes, positioned around the median price point, contribute heavily to these elevated expenses. Since early 2020, monthly payments for such properties have surged 74%, far exceeding wage growth of 25%.
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