Tag Archives: household

Money Monday: Millennials under pressure

Millennials have multiple financial stresses

Why do millennials have more financial challenges than baby boomers? Several reasons:

  • Home prices have increased
  • It’s pricey raising a child
  • Median household incomes have decreased
  • More have student debt

CAR_Millennials_Under_Pressure

This infographic is from CAR.org.

Affordable housing coming to Escondido

Affordable housing coming to Escondido

“Construction is under way at a new apartment project in northern Escondido that will provide housing to low-income families and disabled veterans.

The 36-unit development, named Avocado Court, is expected to open in February, based on information from Community HousingWorks, a non-profit that provides affordable housing and is the builder of this project.

The community’s location is North Broadway and East El Norte Parkway, a corner the non-profit said was “vacant” and “blighted.” After the city of Escondido bought a site on that corner using $250,000 in government grant money, Community Housing Works picked up four surrounding parcels to make the future Avocado Court community, according to project details.

The North County Times reported the total cost of the project is $11.7 million, $3 million of which is from Escondido…”

Read the rest of this article by SignonSanDiego.com here: “Affordable housing coming to Escondido”.

California housing affordability rises in Q3

California Building Industry AssociationHousing affordability increased in 22 of the state’s 28 metropolitan areas in the third quarter, according to the California Building Industry Association’s Housing Opportunity Index (HOI).

On a statewide basis, the HOI found that a family earning the median income could have afforded 63.5 percent of the new and existing homes that were sold during the third quarter, up from 61.3 percent in the second quarter.

The San Francisco, San Mateo and Marin County metro area was once again California’s least-affordable metro area for the twelfth consecutive quarter, and second in the nation, with just 32.9 percent of the homes sold being affordable to a family earning the median income, up from 27.5 percent in the second quarter. Orange County was California’s second least-affordable market and fifth in the nation (43 percent), followed by Los Angeles County (45.1 percent) and Santa Cruz County (47 percent).

Read the article from the California Building Industry Association here: “California Housing Affordability Rises in Third Quarter, CBIA Announces“.