| According to a new report, greater Los | | | | own their own homes. The national average for |
| Angeles ranks as the least affordable metro | | | | home ownership is 70%.Nationwide, the |
| area in the country.In fact, the report by | | | | affordability index stands at 40.6%. This |
| the California Building Industry Association | | | | means that only 40.6% of households with |
| found that nineteen of the top twenty least | | | | median incomes are able to afford the median |
| affordable metropolitan areas are located in | | | | home in the area.The top ten least affordable |
| California.The report is sponsored by the | | | | metro areas in the US in the second quarter |
| National Association of Home Builders and | | | | of 2006 were:Los Angeles/Long Beach/Glendale |
| Wells Fargo Bank. Called the Housing | | | | -- 1.9 Santa Ana/Anaheim/Irvine -- 3.2 |
| Opportunity Index, the report calculates the | | | | Salinas -- 3.5 Merced -- 3.6 Modesto -- 4.1 |
| percentage of homes sold in an area during a | | | | San Diego/Carlsbad/San Marcos -- 4.6 Santa |
| three-month period that were affordable to a | | | | Cruz/Watsonville -- 4.8 Santa Barbara/Santa |
| family earning the median income for the | | | | Maria -- 5.3 Napa -- 5.4 San Luis Obispo/Paso |
| region.Greater Los Angeles, which includes | | | | Robles -- 5.9Martin Lukac represents and a |
| Long Beach and Glendale, was the least | | | | finance web-company specializing in real |
| affordable area studied, with only a 1.9% | | | | estate and mortgage rates. We specialize in |
| affordability.Greater Orange County was | | | | daily updates, mortgage news, rate |
| second, with every single spot in the top 10 | | | | predictions, mortgage rates and more. Find |
| located in California.Metropolitan New York | | | | low home loan mortgage interest rates from |
| City was the only non-California city, | | | | hundreds of mortgage companies! |
| ranking at number 11.Only 57% of Californians | | | | |