San Diego was named the #3 city when it comes to affordable housing for the highest-paying occupations.
SAN DIEGO — It's disappointing news for people who have been trying to buy a home but haven’t been able to because of costs.
Mortgage rates have jumped this year partly because the Federal Reserve raised its benchmark rate several times in an attempt to cool inflation. They also said higher mortgage rates have contributed to the decline in mortgage applications and home sales.The rate jump is concerning for families who feel they won’t qualify to buy a home—especially as median home prices have remained high.
They found that in San Diego, a mortgage on a median-value home could cost nearly 28 hundred and 23 hundred more than what workers in the highest-paying occupation groups could comfortably afford.
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