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Tight Supply Still Big Factor in Housing Market

PROPERTY: Mortgage Rates May Climb; Price Increases May Ease a Bit

Mike Allen, SAN DIEGO BUSINESS JOURNAL

Saturday, January 4, 2014

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Kelly Cunningham, an economist with the National University System Institute for Policy Research, said the unaffordability for a majority of residents is shared by 12 other cities in California. The most unaffordable market is San Francisco, where about 19 percent of residents can afford that city’s median-priced house of $781,000, based on the city’s annual median household income of $101,200.