We Californians know, or should know, that while living in this state has many positive aspects, we are paying through the nose for the experience.
A flurry of recent studies drives home how deeply California residents must dig to meet costs of living that are either at or near the highest of any state.
One comes from the Legislative Analyst’s Office, the Legislature’s advisor on the state budget, delving into the astronomic costs of buying a home.
The LAO study found “California home prices far exceed the rest of the country.” Mid-tier homes, those roughly in the middle of the price range, are more than twice as expensive as the typical mid-tier home elsewhere in the U.S. Monthly payments for such homes run about $5,500 in California, 74% more than what they were 25 years ago.
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