Buy Now - part III

That is, if you can afford it. Already increasingly un-affordable, the recent release of information reveals that less people can afford to own a home in Los Angeles than before. Last year, only 17% of LA residents could afford to purchase a home -- now only 12% can afford the median home price.

Say it together with me - HOUSING CRISIS.

One affect from this affordability crunch is higher financial risk that people are taking just to get into the market. This article is based on a recent study released by the Public Policy Institute of California, highlighting how people are trying to beat the unaffordability of the housing market boom.

On the upside, housing prices might be starting to peak and drop-off, though I anticipate a steep fall in prices before things return to more "normal" levels.

READ - "Buy Now" part IV.
Or part I, and part II if you missed it.