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An Activist’s Life, by Thomas Leavitt » Blog Archive » Cost of housing in SF Bay Area continues to rise…

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January 29th, 2004
Social Justice

Cost of housing in SF Bay Area continues to rise…

Ever fewer can afford a house in Bay Area
You’ll need to earn at least $124,000, study calculates
Kelly Zito, Chronicle Staff Writer
Wednesday, January 28, 2004
©2004 San Francisco Chronicle

URL: sfgate.com/article.cgi?file=/c/a/2004/01/28/MNG9N4JGO01.DTL

The yawning gap between incomes and Bay Area housing costs is pushing
home ownership out of reach for all but the older and most affluent,
according to a new report.

Even though last year’s falling mortgage rates helped some Bay Area
residents purchase homes, they did not increase low-income home
buying, the report says.

“It’s no longer just a poor person’s problem,” said Erin Riches,
senior policy analyst at the California Budget Project, a Sacramento
advocacy group for low- and middle-income people. “You have more and
more middle-income people who are devoting higher and higher amounts
of their incomes to housing.”

[…]

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This entry was posted on Thursday, January 29th, 2004 at 3:16 pm, and is filed under Social Justice. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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