According to a recent report, homeownership in California continues to remain at a historic low, making it difficult for individuals to afford homes in the state. The study found that in order to make monthly payments of $5,570, a minimum annual income of $222,800 was required. This staggering figure demonstrates the challenges faced by prospective homebuyers in California.

Key points:

– Homeownership in California remains at a historic low
– A minimum annual income of $222,800 is needed to afford monthly payments of $5,570
– Difficulty in affording homes in the state is a major concern for prospective buyers


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