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California Counts, Report · August 2005

California’s Newest Homeowners: Affording the Unaffordable

Amanda Bailey and Hans Johnson

Examines the latest trends in home-ownership, the characteristics of homebuyers, and how Californians are able to afford such high prices. Finds that many recent homeowners are financially overextended, that nonconventional financing has also played a role, and that many residents have moved to inland areas of the state where housing is more affordable.