


“How expensive?” tracks measurements of California’s totally unaffordable housing market.
Buzz: Los Angeles County house hunters face mortgage payments double from five years ago.
Source: My trusty spreadsheet tracked this yardstick of affordability by looking at the 37-year history of CoreLogic homebuying stats through November and swings in the 30-year fixed mortgage rate from Freddie Mac.
Estimated payments were calculated by combining a month’s median sales price and mortgage rate.
The pain: A typical Los Angeles County buyer in November got a $5,670 monthly payment, assuming a 20% down payment. That’s the eighth highest since 1988, a cost 3% below a year ago but 98% higher in five years.
Adding to local homebuying’s financial challenge are the wages required to complete a purchase.