Strong wage growth and level home prices buoy California housing affordability 

Higher wages and lower seasonal home prices combined to push California housing affordability higher in the first quarter of 2016. The percentage of home buyers who could afford to purchase a median-priced, existing single-family home in California in first-quarter 2016 rose to 34 percent from the 30 percent recorded in the fourth quarter of 2015. This is the 12th consecutive quarter that the index has been below 40 percent and is near the mid-2008 low level of 29 percent.

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