Buying a home in southern California requires a lot of money. That's not a surprise. But what might be a surprise is just how much money a person or family needs. The California Association of Realtors finds the income needed is just over $200,000 a year to afford the median-priced home of $785,000. Housing expert Matt Lucido from Yardsworth says home prices remain elevated mostly because of higher mortgage rates.
Click here to listen to the latest KNX News Town Hall Priced out of SoCal: Will home ownership ever be affordable again?