By Matt Levin, CALmatters
The median price of a California single-family home is now well over half a million dollars. That’s more than double what the average house costs in the rest of the U.S.
Put a more nauseating way, you could buy two “average” non-California houses for the price of one California house. Can’t decide between the Cape Cod or the midcentury Craftsmen? Move to the Midwest and buy both!
You’d forgive Californians, though, for shrugging off words like “average” and “median” to describe the state’s housing situation. Our state is nearly 164,000 square miles, with housing markets as distinctly different as Redding and La Jolla. That means half a million dollars may sound pricey to those in Barstow, but it’s a bargain for anyone in Silicon Valley.
Read the complete story at CALmatters.
