In 1986, I bought a Santa Ana condo for $99,000, which sold for $600,000 last year, reflecting a staggering 612% rise in appreciation.
California incomes increased only 306% from 1986 to now, creating a significant payment-to-paycheck gap that is the fourth-worst among states.
Housing affordability isn't rocket science, but the quest for solutions is complicated by conflicting interests and a variety of self-serving opinions.
Fixing housing affordability requires sacrifice from some people for others to benefit, making it difficult to propose universally accepted solutions.
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