PITI, Minimum Annual Income Required to Purchase Median-Priced Home Rises More Than 50 percent in First Quarter, C.A.R. Reports

LOS ANGELES – May 15, 2014 – (RealEstateRama) — A combination of continued price increases and relatively higher  interest rates during the first quarter of 2014 led to decreased housing affordability in all regions of the state, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported.