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Week of July 12th- Harsh reality for young homebuyers

July 12, 2015

It takes 18 years to save for a home down payment in San Diego | SanDiegoUnionTribune.com

San Diegans who are between 25 and 30 years old may be graying by the time they can save enough to buy a median-priced home here.

A study released Wednesday by real-estate tracker Trulia says it would take 18 years for a San Diego household of college-educated young professionals earning the median income to afford a median-priced home in the county.

More specifically, a household earning $89,000 per year that can save 10 percent of its income for 18 years would then have enough money for the standard 20 percent downpayment on a median-priced home of $589,000 in the county, Trulia says. San Diego ranked as the nation’s fourth most difficult city to save to buy a home. Enjoy the article from the San Diego Tribune. 

 



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