California Fails the Affordability Test for Teachers
17 percent of California homes for sale are affordable on the average teacher salary
Jeffery writes about the L.A. real estate market for Redfin Real Time and works with journalists covering real estate throughout Southern California. He previously worked as an editor and researcher for a leading real estate publishing firm. Redfin is a full-service real estate brokerage that uses modern technology to make clients smarter and faster. For more information about working with a Redfin real estate agent to buy or sell a home, visit our "Why Redfin?," page.
Email Jeffery17 percent of California homes for sale are affordable on the average teacher salary
Local government and tech companies should join forces to create livable communities
Home prices in the city of Los Angeles rose 7.1 percent in July from a year earlier to $600,000 – nearly double the price buyers were paying for an L.A. home five years ago.
Silver Lake condos can be had for nearly half the price of a single-family home.
Consider a fixer-upper to avoid competition and high prices, Redfin agents advise.
After declining in April, L.A. home sales were essentially flat in May, dipping 0.6 percent.
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