Housing affordability in California was down by five percentage points in November from the level recorded a year earlier, according to the California Association of Realtors.Housing affordability stood at 30% in November, down from 35% in November 2001, although it was unchanged from the level recorded in October 2002, CAR said. (The index indicates the percentage of households that can afford to buy a median-priced home.) The minimum household income needed to buy a median-priced home in California (at $328,310) was $78,630 in November, the association said. CAR can be found on the Web at http://www.car.org.
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