California Business Minute™

The California Redevelopment Association, CRA provides legislative
advocacy, professional development and public education.  In support
of its members it responds to legislative proposals and administrative
regulations.

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Hi, I am Tim Johnson and welcome to the California Business Minute.

The National Association of Home Builders and Wells Fargo released their annual
study that illustrates the least and most affordable places to live in the nation.
Indianapolis remains the ‘Most Affordable and New York the ‘Least Affordable’
in 2010.

According to the report, the typical American family, who makes the nation's median
income of $64,000 a year, could afford to buy 70.8% of all homes sold in the nation
in 2010. That's off just from the record 72.5% reached during 2009, but up substantially
from 2008 when only 55% of homes sold were affordable. And even though the economy in
California is slow, San Francisco, Santa Ana and Los Angeles were identified in the
Top 5 Least Affordable markets.

Most Affordable
Indianapolis
Detroit
Dayton
Youngstown
Akron

Least Affordable
New York
San Francisco
Honolulu
Santa Ana
Los Angeles

I am Tim Johnson and this has been the California Business Minute.