A panel of economists assembled by the California Association of Realtors agree that housing affordability remains a lingering concern in California, namely in Los Angeles. The metro is the least affordable area in the nation when examining affordability relative to median income, and how those figures compare to 2000 and 2003 levels, according to Laurie Goodman, director of Urban Institute’s Housing Finance Policy Center.
- In most Los Angeles ZIP codes, the median price of a home exceeds half a million.
- According to one source, buying is still cheaper in Los Angeles then renting.
- A number of people are moving out of Los Angeles to cities in California's Central Valley.