[spiralpolitik]

It's a fair take. California is now unaffordable for most families and it's going to get worse.

Example: New construction in Santa Clarita (north Los Angeles county) $800k 3 bedroom town house. Even with ~50% down you are still looking around $4k+ per month in payments, with 25% of that amount being property tax.

You'll also likely be paying more due to Mello-Roos and with HOA and home insurance on top of that. Plus it's unlikely at this point you'll be able to get fire insurance.

Good luck trying to make the numbers work on the country medium income of ~$100k.

(And don't ask how someone on medium income can put 50% down on a $800k home).

[yostrovs]

"And don't ask how someone on medium income can put 50% down on a $800k home)."

I believe there are a lot of families that pass down wealth, most of it being used to buy houses.