Affordable Sac of Tomatoes

According to the California Association of Realtors, Sacramento is the 2nd most afforable area in the state for first time homebuyers. Excuse me if I don't Yippee kai-yay because realtor associations lack credibility (witness the repeated predictions of a bottom/rebound of the real estate market and the $60 million they will spend to convince buyers that now is a good time to hire them) and the minimum qualifying household income for a medianly priced home is still $62,640. The U.S. Census pegs the medium household income of Sacramentans at only $49,894!

The Sacramento region is the second most affordable area in the state for first-time homebuyers, according to a report released Thursday by the California Association of Realtors. In Greater Sacramento, 43 percent of households could afford to buy an entry level home, up from 40 percent last year. The first-time buyer median price was $310,670, with a minimum qualifying income of $62,640. The percentage of households who could afford to buy an entry-level home in California stood at 25 percent in the first quarter, down slightly from 26 percent for the same period a year ago.