The income you need to buy a home in California has doubled since 2012 — and it's even worse in the Bay Area

Homebuyers in California need twice the income now to buy a house than they did in 2012, according to a new report by the California Association of Realtors. The second-quarter report looked at affordability throughout the state, and found that only 29 percent of California households could afford to buy a median-priced home in the state ($553,260 statewide), a drop from the 32 percent who could the quarter prior. CAR said that the state was being pressured by higher housing prices and shrinking…

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