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California Families Struggle for Homes Amid Rising Prices

2/1/2025

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Summary

Story summary

The Petersen family in California earns $270,000 but still cannot afford a home due to high costs.
A San Jose family allocates 80% of their income to purchase a median-priced home.
First-time homebuyers' median age has risen to 38, reflecting rising prices and limited inventory.
Boston's $24 million investment in homeownership assistance aids residents like Julieta Lopez in finding affordable housing.

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Story summary

The Petersen family in California earns $270,000 but still cannot afford a home due to high costs.
A San Jose family allocates 80% of their income to purchase a median-priced home.
First-time homebuyers' median age has risen to 38, reflecting rising prices and limited inventory.
Boston's $24 million investment in homeownership assistance aids residents like Julieta Lopez in finding affordable housing.