Tuesday, June 27, 2006

Buyers in more markets find housing out of reach
San Diego could be a poster child for the affordability crisis. Home prices here have risen 142% since the start of 2000. Only 9% of residents could afford the median home if they had to put down 20% of the purchase price. Even so, a dizzying array of high-risk adjustable-rate mortgages has sustained the market by helping more people qualify.

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