10 News in San Diego reports that the supply of “starter homes” has dropped dramatically. The minimum wage to be able to afford a median-priced home is around $65,400/year. The median price is $327,450. To put this in perspective, this was the same inflation-adjusted median price back in 2004.
Stunning new numbers confirm what first-time home seekers already know: It’s getting dramatically more difficult to find an affordable first home in San Diego County.A new study by Trulia says the supply of starter homes has plummeted 80 percent over the last four years — to fewer than 1,000 homes for sale.