The Price is Right?
Jul 31, 2020118K Shares5.3M Views
Now that California voters are recovering from last night’s primary and all the campaigning beforehand, they can move on today to pondering this little economic nugget:
You need $191,106 in income to buy a typical home in Orange County, Calif., real estate blogger Jon Lansnernotes. And that total assumes you can come up with a 10 percent downpayment.
Just a little reminder that while the housing market’s collapse is pulling down home prices nationwide, it doesn’t mean that homes in traditionally expensive markets are going to be that much easier to buy.
You can find out what salary you’d need to buy the average home in your metro area here, at the Center for Housing Policy.
Dexter Cooke
Reviewer
Dexter Cooke is an economist, marketing strategist, and orthopedic surgeon with over 20 years of experience crafting compelling narratives that resonate worldwide.
He holds a Journalism degree from Columbia University, an Economics background from Yale University, and a medical degree with a postdoctoral fellowship in orthopedic medicine from the Medical University of South Carolina.
Dexter’s insights into media, economics, and marketing shine through his prolific contributions to respected publications and advisory roles for influential organizations.
As an orthopedic surgeon specializing in minimally invasive knee replacement surgery and laparoscopic procedures, Dexter prioritizes patient care above all.
Outside his professional pursuits, Dexter enjoys collecting vintage watches, studying ancient civilizations, learning about astronomy, and participating in charity runs.
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